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Bybit is one of the largest cryptocurrency exchanges in the world, ranking among the top three platforms by trading volume in 2026. Founded in 2018 by CEO Ben Zhou, Bybit has grown from a derivatives-focused exchange into a full-service crypto platform offering spot trading, perpetual contracts, options, copy trading, staking, and an NFT marketplace. With over 1,700 listed cryptocurrencies, competitive fees starting at 0.10% for spot trades, and support in 160+ countries, Bybit serves millions of active traders daily.
This Bybit review covers everything you need to know before trading on the platform — from fees and security to the February 2025 hack recovery, regulatory status, and how Bybit compares to major competitors like Binance, Coinbase, and Kraken. Updated for January 2026.
| Feature | Details |
|---|---|
| Founded | 2018 |
| Headquarters | Dubai, UAE (registered in British Virgin Islands) |
| CEO | Ben Zhou |
| Supported Cryptocurrencies | 1,700+ |
| Spot Trading Fee (Non-VIP) | 0.10% maker / 0.10% taker |
| Futures Trading Fee (Non-VIP) | 0.02% maker / 0.055% taker |
| Maximum Leverage | Up to 200x (derivatives) |
| Supported Countries | 160+ (US, Canada, UK restricted) |
| KYC Required | Yes (mandatory since 2023) |
| Mobile App | iOS and Android |
| Proof of Reserves | Real-time Merkle Tree verification |
| Bitcompare Rating | 4.5 / 5 |
Bybit Overview: What Is Bybit?
Bybit is a centralized cryptocurrency exchange that initially launched as a derivatives-only platform and has since expanded into one of the most comprehensive crypto trading ecosystems available. As of January 2026, Bybit ranks #2 in global spot trading volume and #4 in derivatives trading volume according to CoinMarketCap data.
The exchange is headquartered in Dubai, UAE, and is registered in the British Virgin Islands. Bybit serves over 50 million registered users across more than 160 countries, making it one of the most widely accessible crypto exchanges globally. The platform is known for its fast matching engine (processing up to 100,000 transactions per second), deep liquidity, and a clean trading interface that appeals to both beginners and professional traders.
Bybit Key Features
Spot and Derivatives Trading
Bybit offers over 1,700 cryptocurrencies for spot trading, including major assets like BTC, ETH, XRP, SOL, ADA, and USDT. The derivatives platform supports perpetual contracts, quarterly futures, and options for hundreds of trading pairs with leverage up to 200x on select pairs. Bybit's matching engine processes trades in under 20 milliseconds, providing minimal slippage even during high-volatility periods.
Copy Trading
Bybit's copy trading feature allows beginners to automatically replicate trades from experienced traders. Users can browse master traders by ROI, drawdown, followers, and assets under management. Profit-sharing ratios vary by trader, typically ranging from 10% to 15%. The feature supports USDT-based trading pairs across both spot and derivatives markets.
Trading Bots
The platform offers several automated trading tools, including spot grid bots, futures grid bots, DCA (dollar-cost averaging) bots, Martingale bots, and futures combo bots. Users can create custom bots or use pre-built templates based on market conditions — bullish, bearish, or neutral.
Bybit Earn (Staking and Yield)
Bybit Earn offers multiple passive income products including flexible savings, fixed-term staking, liquid staking (ETH), dual asset investments, and wealth management tools. APY rates vary by asset and product type — stablecoin savings typically offer 3–8% APY, while some promotional products offer higher short-term rates.
Bybit Card
Bybit offers a crypto debit card that allows users to spend cryptocurrencies at merchants worldwide. The card supports multiple currencies and integrates directly with users' Bybit accounts for instant conversion at the point of sale.
Bybit NFT Marketplace
The platform includes an integrated NFT marketplace where users can buy, sell, and mint NFTs directly within the Bybit ecosystem. The marketplace supports collections across multiple blockchains.
Bybit Web3 Wallet
Bybit provides a non-custodial Web3 wallet that supports DeFi interactions, token swaps, and cross-chain bridging. However, following the February 2025 hack, some Web3 wallet features have been scaled back as Bybit refocused on core exchange security.
Bybit Fees: Complete Breakdown
Bybit's fee structure is among the most competitive in the cryptocurrency exchange industry. The platform uses a maker-taker model where makers (who add liquidity) pay lower fees than takers (who remove liquidity). Here is a complete fee breakdown for non-VIP users as of January 2026:
| Fee Type | Maker Fee | Taker Fee |
|---|---|---|
| Spot Trading (Crypto-Crypto) | 0.1000% | 0.1000% |
| Spot Trading (Fiat-Crypto) | 0.1500% | 0.2000% |
| Perpetual & Futures | 0.0200% | 0.0550% |
| Options | 0.0200% | 0.0300% |
| Pre-Market Perpetual | 0.0400% | 0.1000% |
Bybit's futures fees of 0.02% maker and 0.055% taker are very close to the industry average (0.024% / 0.053%), making Bybit a cost-effective choice for derivatives traders. Spot fees of 0.10% are competitive but slightly higher than Binance (0.10% base with BNB discount) and Kraken (0.16% maker / 0.26% taker for low volume).
VIP traders can unlock significantly lower fees. Supreme VIP members pay 0.03% maker / 0.045% taker on spot and 0% maker / 0.03% taker on futures. The VIP program has six tiers based on 30-day trading volume or asset balance.
Deposit and Withdrawal Fees
Bybit does not charge deposit fees for crypto transfers. Withdrawal fees vary by cryptocurrency and network — for example, BTC withdrawals cost approximately 0.0002 BTC, and ETH withdrawals cost around 0.0012 ETH. Fiat deposits and withdrawals through third-party payment providers may incur additional processing fees.
Security: The February 2025 Hack and Recovery
Bybit's security track record took a major hit in February 2025 when the exchange suffered the largest cryptocurrency hack in history — approximately $1.4 billion (401,000 ETH) was stolen from multisig wallets. The attack was attributed to North Korea's Lazarus Group, who exploited a vulnerability in Bybit's Safe multisig wallet infrastructure.
However, Bybit's response demonstrated exceptional crisis management. The exchange recovered all user funds within 72 hours through a combination of reserve assets, bridge loans from partner exchanges, and insurance. No customer lost money, and withdrawals were never fully halted. This response actually strengthened user confidence in Bybit's commitment to user protection.
Current Security Measures
Following the hack, Bybit significantly enhanced its security infrastructure:
- Proof of Reserves (PoR): Real-time Merkle Tree verification showing 1:1 asset backing
- Multi-factor authentication: Google 2FA, SMS verification, email confirmation
- Anti-phishing code: Customizable codes in official Bybit emails
- Cold storage: Majority of assets stored in offline wallets
- Address whitelisting: Restrict withdrawals to pre-approved addresses
- YubiKey support: Hardware security key authentication
- Session monitoring: Active session management and alerts
- Fund password: Separate password for withdrawals and transfers
Supported Cryptocurrencies and Markets
Bybit supports over 1,700 cryptocurrencies across spot, derivatives, and P2P markets. The exchange is notably fast at listing new and emerging tokens, often adding them within days of launch. Major supported assets include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Dogecoin (DOGE), Avalanche (AVAX), Polygon (MATIC), and all major stablecoins (USDT, USDC, DAI).
The P2P marketplace supports over 300 cryptocurrencies paired with 75+ fiat currencies, making Bybit accessible to users in regions with limited banking infrastructure. Bybit also offers tokenized stocks (xStocks) allowing crypto-native exposure to traditional equities.
Bybit User Experience and Mobile App
Bybit's interface is clean, responsive, and well-organized. The web platform features a professional trading view with customizable charts (powered by TradingView), order book depth visualization, and one-click trading. Beginners benefit from a simplified trading mode, while advanced users can access the full derivatives interface with advanced order types (limit, market, conditional, trailing stop).
The Bybit mobile app (available on iOS and Android) mirrors the full functionality of the web platform. It includes real-time price alerts, portfolio tracking, copy trading access, and Bybit Earn integration. The app maintains a 4.5+ rating on both app stores with over 10 million downloads.
Customer Support
Bybit offers 24/7 customer support through live chat, email, and a comprehensive help center. The platform also maintains active communities on Telegram, Discord, and X (Twitter). Support response times are generally fast — live chat typically connects users within minutes. Bybit also has a dedicated VIP support line for high-volume traders. On Trustpilot, Bybit holds a mixed rating, with common complaints related to P2P disputes and account restrictions, though the exchange actively responds to reviews.
Regulatory Status (2026)
Bybit's regulatory landscape is complex and evolving. The exchange holds a Virtual Asset Service Provider (VASP) license in Dubai and has pursued MiCA compliance for European Union operations. However, Bybit faces restrictions in several major markets:
- United States: Not available — US residents are prohibited
- Canada: Restricted (including Quebec and Ontario)
- United Kingdom: Restricted since 2023
- France: Exited in August 2024
- Sanctioned regions: North Korea, Cuba, Iran, Syria, Sudan
Bybit has made KYC mandatory for all users since 2023, requiring identity verification before trading. The exchange operates in 160+ countries but traders should verify availability in their jurisdiction before signing up. For users in regions where Bybit is unavailable, alternatives like Coinbase (US) or Kraken (global, well-regulated) may be better options.
Bybit Pros and Cons
| Pros | Cons |
|---|---|
| Very low derivatives fees (0.02%/0.055%) | Not available in US, UK, Canada, or France |
| 1,700+ supported cryptocurrencies | Suffered $1.4B hack in Feb 2025 (funds recovered) |
| Up to 200x leverage on derivatives | Complex for complete beginners |
| Copy trading and trading bots | Proof of Reserves not independently audited |
| Real-time Proof of Reserves | P2P disputes can lead to frozen accounts |
| 24/7 customer support with live chat | Web3 wallet features reduced post-hack |
| Fast matching engine (100K TPS) | Regulatory status still evolving |
| Bybit Earn staking and yield products | No fiat on-ramp without third-party provider |
Bybit vs Competitors: How It Compares
Choosing the right exchange depends on your trading style, location, and priorities. Here's how Bybit compares to major alternatives:
| Feature | Bybit | Binance | Coinbase | Kraken | OKX |
|---|---|---|---|---|---|
| Spot Maker/Taker Fee | 0.10% / 0.10% | 0.10% / 0.10% | 0.40% / 0.60% | 0.16% / 0.26% | 0.08% / 0.10% |
| Futures Maker/Taker Fee | 0.02% / 0.055% | 0.02% / 0.05% | N/A (limited) | 0.02% / 0.05% | 0.02% / 0.05% |
| Supported Coins | 1,700+ | 1,800+ | 250+ | 300+ | 700+ |
| Max Leverage | 200x | 125x | N/A | 50x | 125x |
| US Available | No | Yes (Binance.US) | Yes | Yes | No |
| Copy Trading | Yes | Yes | No | No | Yes |
| Proof of Reserves | Yes (real-time) | Yes | Publicly traded | Yes | Yes |
| Best For | Derivatives traders | All-round trading | US beginners | Regulated trading | Advanced features |
For a deeper comparison, see our guides on Binance vs Bybit and KuCoin Review.
Who Should Use Bybit?
Bybit is best suited for:
- Derivatives traders who want low fees, high leverage, and deep liquidity
- Active traders who value a fast matching engine and professional tools
- Copy trading enthusiasts who want to follow experienced traders
- International users in regions where Bybit is licensed and available
Bybit may not be ideal for:
- US, UK, or Canadian residents — the platform is not available in these countries
- Complete beginners — while improving, the interface can overwhelm new users
- Users prioritizing independent audits — PoR is not independently verified
Frequently Asked Questions
Is Bybit safe to use in 2026?
Bybit is generally safe to use, though it suffered the largest crypto hack in history ($1.4 billion) in February 2025. The exchange recovered all user funds within 72 hours and no customers lost money. Since then, Bybit has significantly upgraded its security infrastructure, maintains real-time Proof of Reserves via Merkle Trees, and requires mandatory KYC for all users.
What are Bybit's trading fees?
Bybit charges 0.10% maker and 0.10% taker for spot trading, 0.02% maker and 0.055% taker for perpetual and futures contracts, and 0.02% maker and 0.03% taker for options. VIP traders can access significantly lower rates — Supreme VIP members pay as low as 0% maker on futures.
Can I use Bybit in the United States?
No, Bybit is not available to US residents. The platform restricts access from the United States, Canada, United Kingdom, France, and several sanctioned regions. US-based traders should consider regulated alternatives like Coinbase or Kraken.
How many cryptocurrencies does Bybit support?
Bybit supports over 1,700 cryptocurrencies for spot trading and hundreds of trading pairs for derivatives. The exchange is known for quickly listing new and emerging tokens, often within days of their launch. The P2P platform supports 300+ cryptos paired with 75+ fiat currencies.
Does Bybit have a mobile app?
Yes, Bybit offers a fully-featured mobile app for both iOS and Android. The app includes spot and derivatives trading, copy trading, Bybit Earn, portfolio tracking, and real-time price alerts. It maintains a 4.5+ rating on both app stores with over 10 million downloads.
How does Bybit compare to Binance?
Bybit and Binance are closely matched on fees (both 0.10% spot base rate), but Binance offers more supported coins (1,800+ vs 1,700+) and is available in the US through Binance.US. Bybit offers higher leverage (200x vs 125x) and a stronger copy trading platform. Both maintain Proof of Reserves, but Binance has a longer operational track record without major hacks.
Is Bybit good for beginners?
Bybit has improved its beginner-friendliness with simplified trading modes, copy trading, and educational resources. However, it remains primarily designed for active and experienced traders. Complete beginners may find platforms like Coinbase more approachable as a starting point before transitioning to Bybit.
What happened with the Bybit hack in 2025?
In February 2025, North Korea's Lazarus Group exploited a vulnerability in Bybit's Safe multisig wallet infrastructure and stole approximately $1.4 billion (401,000 ETH). Bybit responded by covering all losses from reserves and bridge loans within 72 hours. No customer funds were lost, and the exchange has since overhauled its security systems to prevent similar attacks.
Final Verdict: Bybit Review 2026
Bybit earns a 4.5 out of 5 rating in our 2026 review. It is one of the best cryptocurrency exchanges for derivatives trading, offering ultra-competitive futures fees (0.02% maker / 0.055% taker), deep liquidity, and a professional-grade trading engine. The platform's expansion into spot trading, copy trading, staking, and tokenized stocks makes it a strong all-around option for non-US traders.
The February 2025 hack is a legitimate concern, but Bybit's swift and complete recovery — with zero customer losses — demonstrated strong crisis management and financial reserves. The real-time Proof of Reserves system adds an important layer of transparency, though independent auditing would further strengthen trust.
If you're outside the US, UK, and Canada, and you want a high-performance exchange with low fees and extensive trading tools, Bybit is a top-tier choice in 2026. For more exchange comparisons, explore our full exchange comparison tools on Bitcompare.
