As of early 2025, Bybit is recognized as the world’s second-largest crypto exchange by trading volume, serving over 80 million users worldwide. This review covers everything you need to know about Bybit, from its features and fees to its regulatory standing and unique offerings, helping you decide if it’s the right platform for your crypto journey.
Introduction
Established in 2018 by Ben Zhou, Bybit has quickly risen to become a dominant force in the crypto trading landscape. Initially headquartered in Singapore, Bybit moved its global headquarters to Dubai in 2023, reflecting its ambition to be at the forefront of the industry. The platform is known for its user-friendly interface, advanced trading tools, and robust security measures, catering to both beginners and professional 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
Despite its broad availability, Bybit restricts access in several jurisdictions due to legal and regulatory reasons. As of 2025, Bybit is not available in the following countries and regions:
- 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 mid-2023, Bybit has enforced mandatory Know Your Customer (KYC) verification for all users. This means you cannot trade, deposit, or withdraw without completing at least the basic identity checks. The process typically involves submitting:
- Passport or government-issued ID
- Proof of residential address
- Biometric facial verification
This policy aligns Bybit with global anti-money laundering (AML) standards and enhances platform security.
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 stands out for its advanced trading tools, high leverage options, and strong focus on automation and copy trading. Its fees are highly competitive, especially for derivatives traders.
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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 offers up to 100x leverage on crypto derivatives and up to 500x leverage on forex and gold trading via its MetaTrader 5 platform.
Copy Trading
Bybit’s copy trading lets users automatically mirror the trades of experienced professionals. You can browse leaderboards, filter by ROI, win rate, and other metrics, and allocate funds to follow top-performing traders. This feature is particularly appealing for beginners or those seeking passive exposure to the crypto market.
Forex and Gold Commodity Trading
Through MetaTrader 5, Bybit enables trading in forex, gold, and other commodities. Traders can access over 100 pairs, utilize advanced charting tools, and apply leverage up to 500x. This positions Bybit as a multi-asset platform, not just a crypto exchange.
P2P Trading
Bybit’s peer-to-peer (P2P) platform allows users to buy and sell crypto directly with each other using local payment methods and currencies. This is particularly useful in regions with limited fiat on-ramps or where users prefer localized payment options.
Proof of Reserves
Bybit has implemented Proof of Reserves mechanisms to enhance transparency. The platform regularly publishes third-party audit reports, enabling users to verify that customer assets are fully backed and segregated from the company’s funds.
Bybit Card
Available in select regions (including Australia as of 2025), the Bybit Card lets users spend crypto directly at merchants worldwide. It supports automatic conversion of up to five cryptocurrencies (BTC, ETH, USDT, etc.) to fiat at the point of sale, making crypto spending seamless. I have personally tried it, and Bybit card users can earn 2% ‒ 10% Cashback Rewards on their everyday Spending as well as enjoy 100% rebates on selected partners to supercharge their card rewards!
Web3 Wallet
Bybit’s integrated Web3 Wallet enables users to interact with decentralized applications (dApps), manage NFTs, and securely store on-chain assets. The wallet bridges the gap between centralized and decentralized finance, providing a unified experience within the Bybit ecosystem.
Bybit 2025 Hack
Resilience and Fast Recovery Post-Crisis: Even after the largest crypto hack in history in February 2025, Bybit’s liquidity rebounded to pre-hack levels within a month. This rapid recovery demonstrates the platform’s strong market maker support and liquidity management, which preserves trading efficiency even during periods of market stress.
Bybit Tutorials
How To Download the ByBit App?
How To Deposit Funds?
How To Protect Your ByBit Account?
