As of early 2025, Bybit is considered the second-largest crypto exchange in the world when it comes to trading volume, with more than 80 million users around the globe. This review has got you covered on all the important stuff about Bybit, like its features, fees, regulatory status, and what makes it stand out. This way, you can figure out if it’s the right fit for your crypto adventure.
Introduction
Bybit was started in 2018 by Ben Zhou and has quickly become a big player in the crypto trading world. It started in Singapore but switched its main base to Dubai in 2023, showing it wants to lead in the industry. The platform is popular for being easy to use, having great trading tools, and solid security, making it a good fit for both newbies and experienced traders.
Countries Availability
Bybit is available in over 160 countries, spanning Asia Pacific, Europe, the Middle East, Africa, and South America. Its global reach is a testament to its adaptability and compliance efforts, although certain regions remain off-limits due to regulatory restrictions.
Prohibited Countries
Even though Bybit is widely available, it can’t be accessed in certain countries because of legal and regulatory restrictions. As of 2025, here are the places where Bybit isn’t available:
- United States
- United Kingdom
- Mainland China
- Hong Kong
- Singapore
- Canada (especially Quebec and Ontario)
- France
- Uzbekistan
- North Korea
- Iran
- Cuba
- Sudan
- Syria
- Russian-controlled regions of Ukraine (Crimea, Donetsk, Luhansk, Sevastopol)
Bybit also blocks users listed on major international sanctions lists and entities owned by sanctioned parties.
KYC Requirements
Since 2023, Bybit has required all users to go through a Know Your Customer (KYC) verification. This means you won’t be able to trade, deposit, or withdraw unless you handle at least the basic identity checks. Usually, you’ll need to submit:
- Passport or government-issued ID
- Proof of residential address
- Biometric facial verification
This policy keeps Bybit in line with worldwide anti-money laundering standards and boosts the security of the platform.
Fees Structure
Bybit’s fee structure is competitive, especially for active traders. Here’s a breakdown:
Deposit Fees:
- Crypto deposits: Free (network fees may apply)
- Fiat deposits: Vary by payment method and provider
Withdrawal Fees:
- Crypto withdrawals: Fixed network fee per asset (e.g., BTC withdrawals typically incur a 0.0005 BTC fee, and USDT withdrawals on ERC20 the network fee is 8 USDT, and on TRC20 it’s 2 USDT, and on Arbitrium, Solana, and BSC BEP20 it’s 1 USDT) you can learn more about the withdrawal limit and process on the official knowledgebase here.
- Fiat withdrawals: Fees depend on the method and currency; third-party provider charges may apply
Spot Trading Fees:
- Maker: 0.1%
- Taker: 0.1%
VIP tiers offer reduced rates for high-volume traders
Futures/Derivatives Trading Fees:
- Maker: 0.01%
- Taker: 0.06%
Trading Fee Structure Table
VIP Level | Requirements (Meet ANY of these) | Spot Trading Fees (Maker / Taker) | Derivatives Fees (Maker / Taker) |
Non-VIP | Asset Balance ≥ 0 or 30-day Trading Volume ≤ 50K | 0.1000% / 0.1000% | 0.0200% / 0.0600% |
VIP 1 | Asset Balance ≥ 100K or 30-day Trading Volume > 50K | 0.0800% / 0.0675% | 0.0180% / 0.0400% |
VIP 2 | Asset Balance ≥ 250K or 30-day Trading Volume ≥ 500K | 0.0775% / 0.0650% | 0.0160% / 0.0375% |
VIP 3 | Asset Balance ≥ 500K or 30-day Trading Volume ≥ 1M | 0.0750% / 0.0625% | 0.0140% / 0.0350% |
VIP 4 | Asset Balance ≥ 1M or 30-day Trading Volume ≥ 1.5M | 0.0600% / 0.0500% | 0.0120% / 0.0320% |
VIP 5 | Asset Balance ≥ 2M or 30-day Trading Volume ≥ 2M | 0.0500% / 0.0400% | 0.0100% / 0.0320% |
Pro 1 | 30-day Trading Volume ≥ 5M (API Trading Volume ≤ 20%) | 0.0450% / 0.0300% | 0.0000% / Inverse + all Futures: 0.0275% *Top 72 USDT Perp: 0.0275% Other USDT Perp: 0.0320% |
Pro 2 | 30-day Trading Volume ≥ 10M (API Trading Volume ≤ 20%) | 0.0400% / 0.0200% | 0.0000% / Inverse + all Futures: 0.0240% *Top 72 USDT Perp: 0.0240% Other USDT Perp: 0.0280% |
Pro 3 | 30-day Trading Volume ≥ 25M (API Trading Volume ≤ 20%) | 0.0300% / 0.0150% | 0.0000% / Inverse + all Futures: 0.0210% *Top 72 USDT Perp: 0.0210% Other USDT Perp: 0.0280% |
Pro 4 | 30-day Trading Volume ≥ 50M (API Trading Volume ≤ 20%) | 0.0200% / 0.0100% | 0.0000% / Inverse + all Futures: 0.0180% *Top 72 USDT Perp: 0.0180% Other USDT Perp: 0.0280% |
Pro 5 | 30-day Trading Volume ≥ 100M (API Trading Volume ≤ 20%) | 0.0150% / 0.0050% | 0.0000% / Inverse + all Futures: 0.0180% *Top 72 USDT Perp: 0.0180% Other USDT Perp: 0.0280% |
Premier | 30-day Trading Volume ≥ 200M (API Trading Volume > 20%) | N/A / N/A | 0.0000% / 0.0100% |
Diamond | 30-day Trading Volume ≥ 500M or ≥ 10% of Total Maker Volume (API Trading Volume > 20%) | N/A / N/A | 0.0000% / 0.0000% |
Supreme | 30-day Trading Volume ≥ 1,000M (API Trading Volume > 20%) | N/A / N/A | 0.0000% / 0.0000% |
Fiat-Crypto Trading Pairs Fee Structure
30-Day Spot Trading Volume (USD) | Maker Fee | Taker Fee |
<100,000 | 0.2000% | 0.1500% |
≥100,000 | 0.2000% | 0.1000% |
≥275,000 | 0.1500% | 0.1000% |
≥550,000 | 0.1200% | 0.1000% |
≥ 1,000,000 | 0.1000% | 0.0675% |
≥ 5,000,000 | 0.0775% | 0.0650% |
≥ 10,000,000 | 0.0750% | 0.0625% |
≥ 25,000,000 | 0.0600% | 0.0500% |
≥ 50,000,000 | 0.0500% | 0.0400% |
≥ 100,000,000 | 0.0450% | 0.0300% |
≥ 200,000,000 | 0.0400% | 0.0300% |
≥ 500,000,000 | 0.0150% | 0.0050% |
≥ 1,000,000,000 | Varies | Varies |
Deposit and Withdrawal Methods
Bybit supports a variety of deposit and withdrawal options:
- Cryptocurrency: Direct wallet deposits and withdrawals for all supported coins
- Fiat On-Ramps: Buy crypto using Visa/Mastercard, Apple Pay, Google Pay, and third-party payment providers
- P2P Trading: Peer-to-peer platform for buying and selling crypto with local currencies and payment methods
- Bank Transfers: Available in select regions for fiat deposits and withdrawals
Note: Availability of certain methods depends on your country of residence and local regulations.
Pros and Cons
- Intuitive and modern user interface
- Low trading fees
- Wide range of products (spot, derivatives, options, forex, gold)
- Advanced trading bots and automation
- Robust security (cold storage, MFA)
- High liquidity and deep order books
- Copy trading and social features
- Integrated Web3 wallet
- Not available in several major markets (US, UK, China, etc.)
- Mandatory KYC may deter privacy-focused users
- Regulatory uncertainty in some regions
- Fiat deposit/withdrawal options can be limited depending on location.
Comparison with Other Exchanges
Exchange | Spot Fees (Maker/Taker) | Derivatives Fees (Maker/Taker) | KYC Required | Max Leverage | Unique Features | Restricted Countries |
Bybit | 0.1% / 0.1% | 0.0550% / 0.0200% | Yes | 100x (crypto), 500x (forex/gold) | Copy trading, bots, MT5, Web3 | US, UK, CN, SG, CA, FR, etc. |
MEXC | 0% / 0.050% | 0.010% / 0.040% | Yes | 200x (upto 500x for selective accounts) | Wide altcoin selection, launchpad | US, CA, SG, etc. |
Bitget | 0.1% / 0.1% | 0.02% / 0.06% | Yes | 125x | Copy trading, launchpad | US, CA, SG, etc. |
KuCoin | 0.1% / 0.1% | 0.02% / 0.06% | Yes (partial) | 100x | Lending, staking, bots | US, CA, SG, etc. |
Binance | 0.1% / 0.1% | 0.02% / 0.04% | Yes | 125x | Largest liquidity, diverse products | US, CA, SG, etc. |
BingX | 0.075% / 0.075% | 0.02% / 0.05% | Yes | 150x | Social trading, copy trading | US, CA, SG, etc. |
BloFin | 0.1% / 0.1% | 0.02% / 0.06% | Yes | 100x | Simple UI, spot/futures | US, CA, SG, etc. |
Bybit shines with its cool trading tools and great leverage options. It’s all about automation and copy trading, too. Plus, the fees are pretty competitive, especially if you’re into trading derivatives.
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Bybit – Pros and Cons
- Intuitive and modern user interface
- Low trading fees
- Wide range of products (spot, derivatives, options, forex, gold)
- Advanced trading bots and automation
- Robust security (cold storage, MFA)
- High liquidity and deep order books
- Copy trading and social features
- Integrated Web3 wallet
- Not available in several major markets (US, UK, China, etc.)
- Mandatory KYC may deter privacy-focused users
- Regulatory uncertainty in some regions
- Fiat deposit/withdrawal options can be limited depending on location.
Stand Out Features
- Advanced Trading Bots: Grid, DCA, martingale, and combo bots for both spot and futures markets
- Copy Trading: Follow and replicate top traders’ strategies in real time
- MetaTrader 5 Integration: Access to forex, gold, and commodities trading with up to 500x leverage
- Bybit Earn: Flexible and fixed savings, high-yield products, and crypto loans
- Bybit Card: Multi-asset spending card supporting crypto-to-fiat conversion for everyday purchases
- Web3 Wallet: Integrated wallet for DeFi, NFTs, and on-chain asset management
Maximum Leverage
Bybit lets you use up to 100x leverage for trading crypto derivatives and even goes up to 500x for forex and gold trading on its MetaTrader 5 platform.
Copy Trading
Bybit’s copy trading lets you automatically copy the trades of seasoned pros. You can check out leaderboards, sort by return on investment, win rate, and other stats, and put your money towards following the best traders. This is super handy for newbies or anyone looking to get into crypto without much fuss.
Forex and Gold Commodity Trading
With MetaTrader 5, Bybit lets you trade forex, gold, and all sorts of other commodities. You can explore more than 100 pairs, use some fancy charting tools, and even leverage up to 500x. It really makes Bybit a go-to platform for more than just crypto trading.
P2P Trading
Bybit’s P2P platform lets people buy and sell crypto straight with each other using local payment methods and currencies. This is super handy in places where getting cash into crypto is tricky or where folks like to use payment options they’re familiar with.
Proof of Reserves
Bybit has set up Proof of Reserves to keep things clear and open. They regularly share audit reports from outside companies so you can check that the customer assets are completely backed up and kept separate from the company’s funds.
Bybit Card
You can get the Bybit Card in some places, like Australia, starting in 2025. This card lets you use your crypto to shop at stores all over the world. It automatically changes up to five different cryptocurrencies like BTC, ETH, and USDT into cash when you make a purchase, so spending your crypto is super easy. I’ve given it a go myself, and the cool part is that Bybit card users can snag 2% to 10% cashback on their everyday spending. Plus, you can get 100% rebates with some partners to boost those card rewards!
Web3 Wallet
Bybit has this cool Web3 Wallet that lets you connect with decentralized apps or dApps, keep your NFTs safe, and manage your on-chain assets all in one place. It brings together centralized and decentralized finance, making it super easy to use everything Bybit has to offer.
Bybit 2025 Hack
Resilience and Fast Recovery Post-Crisis: After the biggest crypto hack ever in February 2025, Bybit’s liquidity bounced back to where it was before the hack in just a month. This speedy recovery shows how solid the market maker support and liquidity management are on the platform, keeping trading smooth even when the market gets shaky.
Byreal DEX – What is Byreal?
Byreal is a decentralized exchange created by Bybit that gives you a safe and smooth way to trade digital assets. Since it’s backed by Bybit, Byreal will mix the perks of decentralized trading like transparency and user control with the trust and innovation that comes from Bybit.
The platform also has great promos like welcome bonuses and weekly leaderboards where the top traders can snag extra rewards like USDT. This not only encourages people to join in but also helps build a lively trading community around the DEX. You can check out more about it here.
- Byreal is Bybit’s first decentralized exchange, built to deliver CEX-grade speed and DeFi transparency.
- Built on Solana, Byreal combines RFQ and CLMM routing to power low-slippage, MEV-protected trading.
- The Byreal Mainnet is set for Q3 2025, with the testnet going live on June 30.
Bybit Tutorials
How To Download the ByBit App?
How To Deposit Funds?
How To Protect Your ByBit Account?
