Bybit is a popular cryptocurrency derivatives exchange with a powerful order-matching engine that can handle 100,000 transactions per second for each contract. Bybit operates as one of the safest and highest-liquidity cryptocurrency trading platforms, with over 60 million users worldwide and over 1,650 digital assets for trading.
In this Bybit exchange review, we will cover what Bybit is, explore its best features, and explain the trading fees. We will also discuss how to open a new account to buy and sell crypto on Bybit. Additionally, we will address the question, “Is Bybit safe and legitimate to buy and sell crypto in 2025?“
Bybit Review: What Is It?
Bybit is a cryptocurrency exchange that has existed since 2018. Its headquarters are in Dubai. This crypto exchange is licensed as a Virtual Asset Service Provider in Dubai and regulated by Cyprus authorities.
The platform is known for offering a wide range of cryptocurrencies. With Bybit, you’ll find over 1,650 cryptocurrencies available for spot trading. Bybit concentrates on advanced trading tools such as providing perpetual futures contracts, margin trading, copy trading, and trading bots.
The exchange is also highly secure, with no significant security breaches. It uses a cold wallet system to store assets securely and provide PoR data transparently. Also, beginners will find the user interface easy to navigate, and there’s plenty of educational content to get started. Plus, there’s an option to earn passive income through staking and liquidity mining.
Launched2018HeadquartersDubaiLicensedVASP in Dubai, the Cyprus Securities and Exchange Commission, and Astana Financial Services Authority, KazakhstanSupported Cryptocurrencies1,650+Trading FeaturesSpot trading, 100x perpetual futures trading, margin trading, options trading, copy trading, and OTC tradingEarn ProductsFlexible savings, fixed staking, crypto loans, dual investment, and moreFeesSpot trading: 0.1% maker/taker
Futures trading: 0.02% maker and 0.055% taker
Options trading: 0.02% maker and 0.03% taker
Security Measures2FA, cold storage, withdrawal address whitelisting, anti-phishing code, PoR data, etc.KYC VerificationYes (mandatory for trading, withdraw up to $20,000/day without KYC)Payment MethodsBank transfer, credit/debit card, crypto transfer, third-party payment processors like MoonPay, Simplex, Banxa, etc.Mobile AppYes (Android and iOS)Restricted CountriesThe United States, the Chinese Mainland, Hong Kong, Singapore, Canada, France, the United Kingdom, etc.
Are you new to Bybit? Get up to a $30,000 sign-up bonus and enjoy a 30% discount on trading fees!
Where Is Bybit Located?
Bybit is located in Dubai, United Arab Emirates, where it operates under a license from the Virtual Assets Regulatory Authority (VARA). It also holds regulation from the Cyprus Securities and Exchange Commission and the Astana Financial Services Authority in Kazakhstan. Bybit also opened its first European office in the Netherlands.
What Is The Pros of Bybit?
The pros of using Bybit are advanced trading features, a user-friendly interface, competitive fees, robust security measures, and many supported cryptocurrencies.
- Advanced Trading Features: Bybit offers advanced trading features such as futures trading, margin trading, copy trading, and options contracts. These trading tools allow you to increase your buying power using leverage. Some contracts on the platform offer up to 100x leverage. The platform also has various orders, such as limit, market, iceberg, and scaled orders.
- User-Friendly Interface: The platform is straightforward, regardless of whether you work at a computer or a phone. It is easy for both beginners and experienced traders. The simple navigation, TradingView integration, and easy deposit and withdrawal make it best for beginners.
- Low Trading Fees: Bybit has low trading fees, which is always suitable for saving money. For futures, taker and maker fees start as low as 0.055% and 0.02%. Spot trading fees are also competitive, around 0.1% maker/taker.
- Strong Security: It uses cold storage to keep most funds safe. It also has two-factor authentication for extra protection. There is no history of major hacks on the platform, which is reassuring for users.
- Wide Range of Supported Cryptocurrencies: Bybit supports more than 1,650 cryptocurrencies. This variety means you can explore and invest in different markets easily. You can invest in all niches like AI, RWAs, NFTs, metaverse, smart contracts, etc.
What Is The Cons of Bybit?
The cons of using Bybit are limited fiat currency support (including no direct fiat-to-bank withdrawals in some countries) and the fact that it is unavailable in the US, Canada, and the UK.
- The limited fiat support: Bybit mainly works as a crypto-to-crypto exchange. Hence, there are very few options for depositing or withdrawing fiat money. Also, in some countries, there is no direct option to withdraw fiat money into your bank account, which can be inconvenient.
- Not Available in Some Countries: Due to crypto rules and regulations in these countries,
