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Bybit is the world's second-largest cryptocurrency exchange by trading volume, processing over $9 billion in daily spot volume alone as of early 2026. Founded in 2018 by CEO Ben Zhou, Bybit has evolved from a derivatives-focused platform into a comprehensive crypto ecosystem offering spot trading, perpetual contracts, options, copy trading, trading bots, staking, tokenized equities, and an NFT marketplace. With over 80 million registered users, 1,700+ listed cryptocurrencies, and presence in 160+ countries, Bybit competes directly with Binance for the top spot in global crypto trading.
This Bybit review provides a thorough, data-driven assessment of the platform covering fees, security (including the $1.4 billion February 2025 hack and full recovery), derivatives and spot trading, copy trading, Bybit Earn products, regulatory developments including MiCA compliance, and how Bybit compares to Coinbase, Kraken, and OKX.
Overall Rating: 4.5/5 ⭐⭐⭐⭐½
| Category | Rating | Summary |
|---|---|---|
| Fees & Pricing | ⭐⭐⭐⭐⭐ 5/5 | Ultra-low derivatives fees, competitive spot |
| Security | ⭐⭐⭐⭐ 4/5 | $1.4B hack recovered, real-time PoR, but not audited |
| Ease of Use | ⭐⭐⭐⭐ 4/5 | Powerful but steep learning curve for beginners |
| Crypto Selection | ⭐⭐⭐⭐⭐ 5/5 | 1,700+ assets, fast new listings |
| Staking & Rewards | ⭐⭐⭐⭐ 4/5 | Comprehensive Earn suite, 3-8% on stables |
| Customer Support | ⭐⭐⭐⭐ 4/5 | 24/7 live chat, VIP support, active communities |
Last updated: February 11, 2026. We independently research all platforms we review.
| Feature | Details |
|---|---|
| Founded | 2018 |
| Headquarters | Dubai, UAE (registered in British Virgin Islands) |
| CEO | Ben Zhou |
| Registered Users | 80 million+ |
| 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 |
| Options Trading Fee | 0.02% maker / 0.03% taker |
| Maximum Leverage | Up to 200x (derivatives) |
| Supported Countries | 160+ (US and Canada restricted) |
| Regulation | UAE VASP, MiCA (Austria), UK via Archax (FCA) |
| KYC Required | Yes (mandatory since 2023) |
| Mobile App | iOS and Android (4.5+ rating) |
| 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 launched in 2018 as a derivatives-only trading platform and has since expanded into one of the most feature-rich crypto ecosystems in the industry. As of February 2026, Bybit ranks #2 globally in spot trading volume and #4 in derivatives volume according to CoinMarketCap, serving over 80 million registered users across 160+ countries.
The exchange is headquartered in Dubai, UAE, and is registered in the British Virgin Islands. Bybit's core strength lies in its high-performance matching engine, which processes up to 100,000 transactions per second with sub-20-millisecond execution times. This infrastructure makes it a preferred platform for active derivatives traders who require deep liquidity and fast order fills. Beyond trading, Bybit now offers staking, lending, copy trading, trading bots, an NFT marketplace, tokenized equities (xStocks), and a Web3 wallet ecosystem.
Bybit Key Features and Products
Spot and Derivatives Trading
Bybit offers over 1,700 cryptocurrencies for spot trading, covering major assets (BTC, ETH, XRP, SOL, ADA, AVAX, DOGE) and hundreds of emerging altcoins. The exchange is notably quick to list new tokens, often adding them within days of launch to capture early market interest.
The derivatives platform is Bybit's flagship product. It supports perpetual contracts, quarterly futures, and options across hundreds of trading pairs. Maximum leverage reaches 200x on select pairs, though most major pairs offer 100x. Bybit's perpetual contracts are USDT-margined and inverse (coin-margined), giving traders flexibility in margin management. The options market covers BTC and ETH with European-style settlement.
Copy Trading
Bybit's copy trading platform allows users to automatically replicate trades from experienced master traders. Users can filter traders by ROI, maximum drawdown, follower count, and assets under management (AUM). Profit-sharing ratios typically range from 10% to 15%. The platform supports USDT-based pairs across both spot and derivatives, and Bybit offers 100 USDT compensation if a user's first copy trade results in a loss -- a unique risk-mitigation feature for newcomers.
Trading Bots and Aurora AI
Bybit provides 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 select from pre-built templates optimized for bullish, bearish, or neutral market conditions.
In 2025, Bybit introduced Aurora AI, an artificial intelligence system that generates trading bot suggestions and market analysis. Aurora AI can recommend bot configurations based on current market conditions and historical patterns, lowering the barrier for users unfamiliar with algorithmic trading strategies.
Bybit Earn (Staking, Savings, and Yield)
Bybit Earn is a comprehensive passive income suite offering multiple product types:
- Flexible Savings: Deposit and withdraw anytime. Stablecoin rates (USDT, USDC) typically range from 3% to 8% APY depending on demand.
- Fixed-Term Staking: Lock assets for 7, 14, 30, or 60 days for higher yields.
- Liquid Staking: Stake ETH and receive stETH tokens for use in DeFi while earning staking rewards.
- Dual Asset Investment: A structured product combining two assets with enhanced yield, suited for experienced users comfortable with directional risk.
- Wealth Management: Curated portfolios managed by Bybit's team for hands-off investors.
For a comparison of staking rates across platforms, see our staking comparison tools.
Bybit Launchpad and Launchpool
Bybit Launchpad provides early access to new token sales before they list on the open market. Users stake BIT or USDT to participate in token allocations, with historical projects delivering significant first-day returns. Bybit Launchpool allows users to stake existing assets to farm new tokens without capital risk to the staked principal. Both products are accessible to KYC-verified users and have become popular among users seeking exposure to early-stage crypto projects.
Tokenized Equities (xStocks)
Bybit expanded into traditional finance in 2025 with xStocks, which offers tokenized versions of US equities including Tesla, Apple, Nvidia, and major indices. This allows crypto-native users to trade traditional stocks using their Bybit accounts and crypto balances, without needing a separate brokerage. xStocks settle in USDT and are available 24/7, unlike traditional stock markets.
Bybit Card and Payments
Bybit offers a crypto debit card that lets users spend crypto at merchants worldwide through instant fiat conversion at the point of sale. The card integrates directly with Bybit accounts and supports multiple currencies. Bybit Pay enables peer-to-peer crypto transfers between Bybit users at zero cost.
Bybit Web3 and On-Chain Products
Bybit provides a non-custodial Web3 wallet supporting DeFi interactions, token swaps, and cross-chain bridging. In late 2025, Bybit launched Bybit Alpha for on-chain discovery and yield farming, plus the Byreal Solana DEX for decentralized trading. The NFT marketplace remains integrated within the ecosystem for buying, selling, and minting NFTs across multiple blockchains.
Bybit Fees: Complete Breakdown for 2026
Bybit uses a maker-taker fee model where makers (who add liquidity with limit orders) pay lower fees than takers (who remove liquidity with market orders). Bybit's fee structure is among the most competitive in the industry, particularly for derivatives trading.
| Product | Maker Fee | Taker Fee | Notes |
|---|---|---|---|
| Spot Trading (Crypto-Crypto) | 0.1000% | 0.1000% | Flat rate, no native token discount |
| Spot Trading (Fiat-Crypto) | 0.1500% | 0.2000% | Fiat pairs carry higher fees |
| Perpetual and Futures | 0.0200% | 0.0550% | USDT-margined and inverse contracts |
| Options (BTC/ETH) | 0.0200% | 0.0300% | European-style settlement |
| Pre-Market Perpetual | 0.0400% | 0.1000% | Higher fees for pre-listing contracts |
VIP Fee Tiers
Bybit's VIP program offers six tiers based on 30-day trading volume or asset balance. Fee reductions are significant at higher tiers:
| VIP Level | 30-Day Spot Volume | Maker Fee | Taker Fee |
|---|---|---|---|
| Non-VIP | Under $1M | 0.1000% | 0.1000% |
| VIP 1 | $1M+ | 0.0800% | 0.0900% |
| VIP 2 | $5M+ | 0.0725% | 0.0800% |
| VIP 3 | $50M+ | 0.0625% | 0.0750% |
| Supreme VIP | By invitation | 0.0300% | 0.0450% |
Supreme VIP members also receive 0% maker fees on futures, making Bybit one of the cheapest derivatives platforms for institutional and high-volume traders.
Deposit and Withdrawal Fees
Bybit charges zero fees on crypto deposits. Withdrawal fees are network-dependent and competitive: BTC withdrawals cost approximately 0.0002 BTC (~$19 at current prices), ETH withdrawals cost around 0.0012 ETH (~$4), and USDT (TRC-20) withdrawals cost 1 USDT. Fiat deposits through third-party providers (Banxa, Mercuryo, or credit/debit card) typically incur a 1-3% processing fee.
How Bybit Fees Compare
Bybit's derivatives fees (0.02%/0.055%) are competitive with Binance (0.02%/0.05%) and OKX (0.02%/0.05%). Spot fees of 0.10% match Binance's base rate but lack a native token discount mechanism. However, Bybit's spot fees are significantly cheaper than Coinbase (0.40%/0.60%) and Kraken (0.16%/0.26%). For a detailed fee comparison, use our exchange comparison tools.
Security: The $1.4 Billion Hack and Recovery
Bybit's security was dramatically tested in February 2025 when the exchange suffered the largest hack in cryptocurrency history. Approximately $1.46 billion was stolen, including 401,347 ETH ($1.12B), 90,375 stETH ($253M), 15,000 cmETH ($44M), and 8,000 mETH ($23M). The attack was attributed to North Korea's Lazarus Group, who compromised multisig signers through phishing and injected a spoofed Safe UI to alter wallet logic.
Bybit's response was widely regarded as exemplary. The exchange recovered all user funds within 72 hours through a combination of reserve assets, bridge loans from partner exchanges, and emergency funding. Withdrawals continued to operate throughout the incident. No customer lost a single dollar, and CEO Ben Zhou provided transparent, real-time updates via social media during the crisis.
Current Security Infrastructure
Following the breach, Bybit overhauled its security systems:
- Proof of Reserves (PoR): Real-time Merkle Tree verification confirming 1:1 backing of all customer assets. Updated continuously rather than at periodic intervals.
- Multi-factor Authentication: Google 2FA, SMS verification, and email confirmation required for sensitive actions.
- Anti-phishing Code: Users set a custom code displayed in all official Bybit emails, preventing phishing attacks.
- Cold Storage: The vast majority of assets are stored in air-gapped cold wallets with enhanced multisig procedures post-hack.
- Address Whitelisting: Users can restrict withdrawals to pre-approved wallet addresses only.
- YubiKey Hardware Authentication: Physical security key support for an additional layer of account protection.
- Session Monitoring: Active session alerts and the ability to remotely terminate sessions.
- Fund Password: A separate password required for all withdrawals and internal transfers.
While the hack itself is a negative mark, Bybit's complete recovery with zero customer impact sets a new industry benchmark for crisis response. The main remaining criticism is that Bybit's Proof of Reserves is not independently verified by a third-party auditor.
Supported Cryptocurrencies and Markets
Bybit lists over 1,700 cryptocurrencies across spot markets, with hundreds of perpetual contract and futures pairs. The exchange is one of the fastest in the industry at listing new tokens, frequently adding coins within days of their initial launch. Supported assets include all major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Dogecoin (DOGE), Avalanche (AVAX), Polygon (POL), Chainlink (LINK), and all major stablecoins (USDT, USDC, DAI).
The P2P marketplace supports over 300 cryptocurrencies paired with 75+ fiat currencies, providing crucial access for users in regions with limited traditional banking infrastructure. Bybit's early-access listing strategy has delivered significant returns on several tokens, with the platform earning a reputation for identifying trending projects before competitors.
Bybit User Experience and Mobile App
Bybit's interface balances power with usability. The web platform features a professional trading terminal with TradingView-powered charts, order book depth visualization, and one-click trading. Advanced order types include limit, market, conditional, trailing stop, and iceberg orders. A simplified trading mode is available for users who prefer a cleaner interface without the complexity of the full derivatives dashboard.
The Bybit mobile app (iOS and Android) provides the full functionality of the web platform, including spot and derivatives trading, copy trading, Bybit Earn access, portfolio tracking, and real-time price alerts. The app holds a 4.5+ rating on both the App Store and Google Play with over 10 million downloads. Bybit also supports MetaTrader 4 (MT4) integration, making it accessible to traders transitioning from forex markets.
Regulatory Status and Licensing (February 2026)
Bybit made significant regulatory progress in 2025, expanding its licensed presence across multiple jurisdictions:
- United Arab Emirates: Bybit holds a VASP license from Dubai's VARA and secured the UAE's first SCA Virtual Asset Platform Operator License in 2025, enabling nationwide trading, custody, and fiat services.
- European Union: Bybit achieved full MiCA (Markets in Crypto-Assets) compliance through its Vienna-based entity, with Austrian authorization covering all applicable EEA jurisdictions.
- United Kingdom: After a two-year hiatus, Bybit re-entered the UK in December 2025 by partnering with FCA-regulated Archax, restoring spot and P2P trading access under the UK's financial promotion regime.
- United States: Not available. US residents are prohibited from using the platform.
- Canada: Restricted, including Ontario and Quebec.
- France: Exited in August 2024 under regulatory pressure.
- Sanctioned Regions: North Korea, Cuba, Iran, Syria, and other OFAC-sanctioned countries are blocked.
Bybit's regulatory trajectory is positive, with MiCA compliance and the UK re-entry being particularly significant milestones. However, the absence of a US license remains the platform's biggest limitation. For US traders, Coinbase and Kraken are the recommended alternatives. KYC has been mandatory for all Bybit users since 2023.
Customer Support
Bybit offers 24/7 customer support via live chat, email, and a comprehensive help center with hundreds of articles and video tutorials. The platform maintains active communities on Telegram, Discord, and X (Twitter). Live chat response times are generally fast, connecting users within minutes. High-volume traders with VIP status receive dedicated support representatives and priority response channels.
On Trustpilot, Bybit holds a 3.4/5 rating. Positive reviews cite the clean UI, comprehensive feature set, and responsive chat support. Common complaints include P2P disputes leading to frozen accounts, occasional KYC verification delays, and account access restrictions in certain regions. Bybit actively responds to negative reviews, which is a positive indicator of customer service engagement.
Bybit Pros and Cons
| Pros | Cons |
|---|---|
| Ultra-low derivatives fees (0.02%/0.055%) | Not available to US or Canadian residents |
| 1,700+ cryptocurrencies with fast new listings | $1.4B hack in Feb 2025 (all funds recovered) |
| Up to 200x leverage on derivatives | Interface can overwhelm complete beginners |
| Copy trading with 100 USDT loss coverage | Proof of Reserves not independently audited |
| Aurora AI-powered trading bots | P2P disputes sometimes lead to frozen accounts |
| Real-time Proof of Reserves | No native token for fee discounts |
| MiCA-compliant and UK access restored | Fiat on-ramps rely on third-party providers |
| Tokenized stocks (xStocks) and Web3 ecosystem | Regulatory status still evolving in some regions |
| 80M+ users and deep liquidity | Trustpilot rating of 3.4/5 with mixed reviews |
Bybit vs Competitors: Head-to-Head Comparison
Selecting the right crypto exchange depends on your trading style, geographic location, and feature priorities. Here is how Bybit compares to the other major exchanges in 2026:
| 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% | Limited futures | 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 (with loss coverage) | Yes | No | No | Yes |
| Trading Bots | Yes (AI-powered) | Yes | No | No | Yes |
| Proof of Reserves | Real-time Merkle Tree | Periodic PoR | Publicly traded (audited) | Periodic PoR | Periodic PoR |
| Tokenized Stocks | Yes (xStocks) | No | No | No | No |
| Regulation | UAE, MiCA, UK (via Archax) | Multiple (varies) | SEC-regulated (US) | Multiple (US, EU) | UAE, EU (MiCA) |
| Best For | Derivatives and active traders | All-around trading | US beginners | Regulated, security-first | Advanced traders |
For detailed head-to-head breakdowns, explore our Binance vs Bybit and Bybit vs OKX comparisons.
Who Should Use Bybit?
Bybit is best suited for:
- Derivatives and futures traders who need low fees, up to 200x leverage, and deep liquidity across hundreds of perpetual contract pairs.
- Active and high-volume traders who benefit from a fast matching engine (100K TPS), VIP fee tiers, and professional charting tools.
- Copy trading users who want to replicate expert strategies with built-in loss protection.
- Bot and algorithmic traders looking for AI-powered automation through Aurora AI and customizable bot templates.
- International users in the EU (MiCA), UK (via Archax), UAE, and other supported regions.
Bybit may not be the right fit for:
- US or Canadian residents -- the platform is restricted in these countries.
- Complete beginners -- while improving, the derivatives-heavy interface has a steeper learning curve than Coinbase.
- Users who require independent security audits -- Bybit's PoR is self-reported, not third-party verified.
Frequently Asked Questions
Is Bybit safe to use in 2026?
Bybit is considered safe for most users in 2026, despite suffering the largest crypto hack in history ($1.46 billion) in February 2025. The exchange recovered all customer funds within 72 hours with zero losses to users. Bybit maintains real-time Proof of Reserves via Merkle Trees, requires mandatory KYC, and offers multiple security features including 2FA, anti-phishing codes, YubiKey support, and address whitelisting. The main caveat is that its PoR system is not independently audited by a third party.
What are Bybit's trading fees in 2026?
Bybit charges 0.10% maker and 0.10% taker for spot crypto-crypto trades, and 0.02% maker and 0.055% taker for perpetual and futures contracts. Options trading costs 0.02% maker and 0.03% taker. Fiat-crypto spot pairs carry higher fees of 0.15% maker and 0.20% taker. VIP members receive substantial discounts, with Supreme VIP paying 0% maker on futures.
Can I use Bybit in the United States?
No, Bybit does not accept US residents. The platform is also restricted in Canada (including Ontario and Quebec) and certain sanctioned countries. US-based traders looking for similar features should consider Coinbase for spot trading or Kraken for a broader range of trading products.
Is Bybit available in the UK?
Yes, Bybit returned to the UK in December 2025 after a two-year absence. The platform partnered with FCA-regulated Archax to offer spot and P2P trading under the UK's financial promotion regulations. UK users now have access to 100+ crypto trading pairs through this arrangement.
How does Bybit compare to Binance?
Bybit and Binance share similar spot fee structures (both 0.10% base rate). Binance offers more coins (1,800+ vs 1,700+), a native token (BNB) for fee discounts, and US access through Binance.US. Bybit offers higher leverage (200x vs 125x), AI-powered trading bots, tokenized equities (xStocks), and copy trading with loss coverage. Both maintain Proof of Reserves, but Binance has a longer track record without a major security breach. For a full breakdown, read our Binance vs Bybit comparison.
What is Bybit Earn and how much can I earn?
Bybit Earn is a suite of passive income products including flexible savings, fixed-term staking, liquid staking (ETH), dual asset investments, and wealth management. Stablecoin yields (USDT, USDC) typically range from 3% to 8% APY on flexible savings. Fixed-term products and promotional offerings may provide higher rates. Rates fluctuate based on market demand and available liquidity.
What happened with the Bybit hack?
On February 21, 2025, North Korea's Lazarus Group stole approximately $1.46 billion from Bybit by compromising multisig wallet signers through phishing and injecting a spoofed Safe UI. The stolen assets included 401,347 ETH, 90,375 stETH, 15,000 cmETH, and 8,000 mETH spread across 39 addresses. Bybit covered all losses through reserves and bridge loans within 72 hours, and no customer funds were affected. The exchange has since overhauled its security procedures.
Does Bybit require KYC verification?
Yes, Bybit has required mandatory KYC (Know Your Customer) verification for all users since 2023. Users must complete identity verification before trading, depositing, or withdrawing. The process typically requires a government-issued ID and takes minutes to complete.
Our Review Methodology
At Bitcompare, we independently research every platform we review using a consistent evaluation framework. Our Bybit review is based on:
- Fee verification: We analyzed current fee schedules across spot, futures, and options trading
- Security assessment: We reviewed the February 2025 incident, recovery process, and current security infrastructure
- Platform testing: We evaluated the trading interface, mobile app, and bot functionality
- Regulatory review: We verified licensing claims across UAE, EU (MiCA), and UK jurisdictions
- Support evaluation: We assessed available support channels and community responsiveness
- Competitor comparison: We benchmarked against Binance, Coinbase, Kraken, and OKX
We update this review quarterly or when significant platform changes occur. Last full review: February 11, 2026.
Editorial Independence: Bitcompare maintains complete editorial independence. Our reviews are based on research and are not influenced by partnerships. Where affiliate links are present, they do not affect our ratings or criticism.
Final Verdict: Bybit Review 2026
Bybit earns a 4.5 out of 5 rating in our February 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, 200x leverage, and a professional-grade matching engine processing 100,000 transactions per second. With 80 million registered users and $9+ billion in daily spot volume, Bybit's market position is firmly established as the world's #2 exchange.
The 2025 security breach remains a legitimate concern, but Bybit's complete recovery -- covering $1.46 billion with zero customer losses -- set a new standard for crisis management in the crypto industry. The real-time Proof of Reserves system adds transparency, though independent third-party auditing would further strengthen trust.
Bybit's regulatory progress in 2025 was substantial: MiCA compliance, the UAE SCA license, and the UK re-entry through Archax demonstrate a commitment to operating within regulatory frameworks. The expansion into tokenized equities, AI-powered trading, and Web3 products shows a platform building for long-term relevance beyond just derivatives.
If you trade derivatives, value low fees, and are located outside the US and Canada, Bybit is a top-tier choice in 2026. For more exchange reviews and comparisons, explore our full exchange comparison tools on Bitcompare.
