Bybit Crypto Exchange
U.S. Status
Supported Coins
Our Rating
Spot Trading Fee
Bybit is a popular cryptocurrency exchange that specializes in high-leverage trading, offering various options such as spot, margin, and futures trading.
Established in 2018, Bybit has grown quickly and is known for its advanced trading features, including its professional-grade matching engine, customizable interfaces, and copy trading options.
The platform supports +650 cryptocurrencies and is accessible to users from more than 180 countries. However, Bybit is not available in all countries, including United States.
Bybit provides a variety of payment options, including P2P trading and fiat deposits in multiple currencies.
While it offers a user-friendly interface, Bybit’s complex features may be challenging for beginners.
What is the minimum deposit amount on Bybit?
The minimum deposit amount depends on the cryptocurrency you're using. For crypto deposits, it's typically very low, but fiat deposits may have higher minimums, especially for bank transfers. Check the deposit page for specific requirements.
Does Bybit offer a demo account?
Yes, Bybit offers a demo account that allows users to practice trading with virtual funds. It’s a great way to get familiar with the platform’s features and trading strategies without risking real money.
Is there a mobile wallet for Bybit?
Bybit does not offer a dedicated mobile wallet, but it does provide a custodial wallet for your assets stored on the exchange. You can use the platform’s wallet to manage your holdings and withdraw funds to a personal wallet if needed.
How can I secure my Bybit account?
You can secure your Bybit account by enabling two-factor authentication (2FA) and using a strong, unique password. Additionally, Bybit offers withdrawal whitelists, which allow you to restrict withdrawals to approved addresses only.
Pros | Cons |
|---|---|
Advanced Trading Features | Not Available in the US and Some Other Countries |
Low Fees | Complexity for Beginners |
Security Measures | Lack of Insurance on Deposits |
Copy Trading |
In February 2025, Bybit, a Dubai-based cryptocurrency exchange, suffered a massive security breach resulting in the theft of approximately $1.5 billion in digital assets, primarily Ethereum.
Bybit's CEO, Ben Zhou, acknowledged the breach occurred during a routine transfer from a cold wallet, where the attackers manipulated the transaction to divert funds.
For new investors considering Bybit, this incident raises serious trust and security concerns, suggesting that the platform may not be the safest choice for storing large amounts of crypto.
Supported Cryptocurrencies & Assets
Bybit offers a wide range of cryptocurrencies for trading, including popular tokens, stablecoins, and even NFTs.
With +650 cryptocurrencies available, users can trade a variety of assets across spot, margin, futures, and options markets.
In addition to well-known coins like Bitcoin and Ethereum, Bybit also supports several stablecoins and lesser-known altcoins, allowing traders to diversify their portfolios.
One of the standout features of Bybit is its NFT marketplace, where users can buy, sell, and showcase non-fungible tokens.
This adds an extra layer of flexibility for those interested in digital art and collectibles.
Bybit Exchange: Supported Countries & Availability
Bybit is accessible to users in most countries around the world, but there are a few regions where access is restricted due to regulatory reasons.
Notably, Bybit is not available in the United States, Canada (including Quebec), Singapore, and a few other countries, including countries subject to international sanctions.
Bybit operates globally and supports a wide range of countries, including most of Europe, Asia, and South America. The platform offers multilingual support and local fiat payment options in over 60 currencies
Bybit Legal Issues & Trustworthiness: What You Should Know
Bybit has not experienced any major security breaches or problems involving the loss of customer funds since its launch in 2018.
When it comes to regulation, Bybit faces regulatory challenges, particularly in the U.S., where it is not available for derivatives trading due to non-compliance with SEC regulations.
Unlike some exchanges, Bybit does not offer insurance on user deposits, which may concern users prioritizing asset protection.
Compared to other exchanges, its rating in TrustPilot is quite good.
Main Features For Crypto Investors
Here are the key features that I found most appealing in Bybit:
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Instantly Swap and Trade Crypto on Bybit
Bybit offers an intuitive platform to buy and sell a variety of cryptocurrencies, making it easy to enter or exit the market.
Users can swap their assets directly through the platform without needing to use external exchanges.
Bybit’s swap feature allows you to instantly exchange one cryptocurrency for another at the best market rate available, whether you’re trading Bitcoin for Ethereum or other crypto pairs.
For beginners, Bybit also offers fiat-to-crypto trading, allowing you to purchase crypto with traditional currencies like USD or EUR using a debit/credit card or bank transfer.
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Competitive Fees, Especially For Frequent Traders
The platform has a tiered fee structure based on either trading volume over the last 30 days or the account's asset balance.
As traders move up the VIP levels, they unlock progressively lower fees, which can significantly reduce the cost of trading for active or institutional traders.
Here are the standard fees:
Spot Trading Fees | Future Trading Fees |
|---|---|
0.10%
For both maker and taker orders. The more you trade, the lower the fees – can decrease to as low as 0.02%. Using Bybit's native token, BYD, to pay trading fees offers a 20% discount | 0.025% – 0.075%
0.075% for taker trades and 0.025% for maker trades. Using Bybit's native token, BYD, to pay trading fees offers a 10% discount |
- Deposit Fees: Bybit offers free crypto deposits, but fiat deposits via bank transfers or third-party services may incur a small fee, ranging from 0.08% to 2%.
- Withdrawal Fees: Crypto withdrawals vary depending on the asset and network, while fiat withdrawals typically incur small flat fees, like €2.60 for SEPA transfers.
- P2P Trading Fees: Bybit’s P2P platform allows free crypto-to-fiat transactions between users, with third-party providers potentially charging additional fees.
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How Bybit Copy Trading Work?
Bybit's Copy Trading feature allows users to mirror the strategies of successful traders on the platform.
This is a great option for beginners who want to take advantage of the expertise of experienced traders without having to actively manage trades.
Traders can browse profiles of top traders, review their strategies, and choose who to follow based on their performance.
There are two modes: Smart Copy, which adjusts the risk level according to the user's balance, and Advanced Copy, which allows for more customized settings.
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Bybit’s Expansion into NFTs and Web3
Bybit has made a significant move into the NFT and Web3 space.
Bybit’s NFT Marketplace allows users to buy, sell, and showcase non-fungible tokens (NFTs) directly on the platform.
This feature supports Ethereum and Solana-based NFTs, allowing users to interact with the world of digital art, gaming, and collectibles.
It offers an easy interface for trading NFTs, and the platform charges a low 1% transaction fee for sellers.
Additionally, Bybit integrates with Web3 technologies, enabling users to interact with decentralized applications (dApps) in the broader ecosystem.
This means that users can connect their wallets and participate in decentralized finance (DeFi), blockchain gaming, and other Web3 services directly from the exchange platform.
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Bybit Deposit & Withdrawal Options
Bybit supports a variety of deposit and withdrawal options, including cryptocurrency transfers, bank transfers, and P2P trading.
It accepts more than 60 fiat currencies, with popular options like USD, EUR, and GBP.
Deposits are usually processed quickly, especially for crypto transfers, while fiat withdrawals can take longer, depending on the method.
Users should be aware of small fees for certain deposit methods, especially when using bank transfers or third-party services.
Some countries face restrictions, and P2P trading offers a workaround for regions with limited fiat support.
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Bybit’s Security Features: Encryption, 2FA, and Cold Storage
Bybit prioritizes security with industry-standard encryption, two-factor authentication (2FA), and withdrawal whitelisting to protect user assets.
They store most funds in cold storage, minimizing the risk of hacking. Bybit also follows Know Your Customer (KYC) regulations, ensuring that users are verified before accessing full features.
However, Bybit does not provide insurance on user deposits. The platform operates under licenses in certain regions, such as Dubai and Cyprus, but is not fully regulated in all markets.
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Bybit’s Interface: Not Simple, Yet Powerful
The platform is designed with simplicity in mind, allowing users to easily navigate between different markets, such as spot, futures, and margin.
Beginners will appreciate the clean layout and quick access to account features, while advanced traders can take advantage of sophisticated charting tools, like TradingView integration.
Bybit's mobile app is highly rated and mirrors the desktop experience, providing flexibility for on-the-go trading.
However, due to the advanced features, beginners might need some time to fully grasp the platform's functionality.
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Bybit Trading Bots: Automate Your Strategies with Ease
Bybit offers automated trading through its Trading Bots, which allow users to set up strategies that run without manual intervention.
There are different bots available, including the Spot Grid Bot for price volatility and the DCA (Dollar-Cost Averaging) Bot for consistent investments over time.
These bots are especially useful for those who want to take advantage of market movements without having to monitor the market 24/7.
They can help traders save time and stick to their strategies while managing risks.
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Staking on Bybit: What It Offers
Bybit offers staking services that allow users to earn passive income on their cryptocurrency holdings.
By staking supported assets, users can lock their crypto into the platform and earn rewards over time.
Bybit provides options for staking popular cryptocurrencies like Ethereum 2.0 and other proof-of-stake (PoS) tokens, which offer attractive APY.
The platform handles all the technical aspects of staking, making it easy for users to participate without needing advanced knowledge.
Staking rewards are typically distributed daily, and users can unstake their crypto at any time, although some assets may have a minimum holding period.
When Bybit May Be a Good Choice? When Not?
As with any financial platform, Bybit isn’t the perfect fit for everyone.
Here’s a look at who might find Bybit a better choice and who might want to consider other options
When Bybit May Be a Good Choice | Who Should Look Elsewhere |
|---|---|
Experienced Traders, Day Traders | Beginners Looking For Simple Platform |
Derivatives and Futures Traders | U.S. Residents |
Crypto Enthusiasts Interested in NFTs | Investors Seeking Full Regulatory Compliance |
4 Simple Steps to Set Up the Bybit Account
Let's see the main steps when setting up an account with Bybit:
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1. Registering Your Account
To get started on Bybit, go to their official website and click on the “Sign Up” button.
You can sign up using your email address or mobile phone number. If you choose the email option, you will receive a verification code in your inbox, which you'll need to enter to complete the registration.
For phone sign-ups, you’ll receive a code via SMS. Once verified, you can set a strong password to secure your account.
Our tips:
🔹 Choose a strong, unique password that includes numbers, letters, and special characters.
🔹 Watch out for phishing sites—always ensure you're on the official Bybit website.
🔹 If you’re using a referral code, enter it during registration to get potential rewards.
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2. Complete KYC Verification
After signing up, you will need to complete Bybit's Know Your Customer (KYC) verification to access full features.
This requires uploading an ID document (passport, driver’s license, etc.) and taking a short selfie video for identity verification.
Once submitted, Bybit will review your documents, which usually takes a few minutes but can take up to 24 hours.
Our tips:
🔹 Ensure your ID and documents are clear and readable to avoid delays in verification.
🔹 Use a well-lit space when recording the selfie video to avoid issues.
🔹 If you're in a region with limited verification options, check Bybit’s guidelines.
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3. Adding Funds to Your Account
To start trading, you need to deposit funds into your Bybit account. Bybit supports both cryptocurrency deposits and fiat options.
You can transfer crypto from another wallet, or if you’re using fiat, you can make a deposit through bank transfer, credit/debit card, or peer-to-peer (P2P) trading.
Once the deposit is processed, your funds will appear in your account balance.
Our tips:
🔹 For faster processing, crypto deposits usually take less time than fiat.
🔹 If using fiat, check the fees involved, especially for credit card deposits.
🔹Ensure your crypto wallet address is correct to avoid loss of funds.
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4. Start Trading
Once your account is funded, you can begin trading on Bybit. Choose from spot, margin, or futures trading depending on your experience and risk tolerance.
The platform provides advanced charting tools, order types, and leverage options to help you manage your trades.
For beginners, it's advisable to start with spot trading or use Bybit's demo account to practice without risk.
Our tips:
🔹 Familiarize yourself with the platform’s features by exploring the demo account first.
🔹 Always start with small amounts when using leverage or margin.
🔹 Ensure you fully understand the risks involved, especially with leveraged trading.
🔹 Take advantage of Bybit’s educational resources to understand market strategies.
FAQ
To withdraw funds, simply go to the “Assets” section, select “Withdraw,” and choose the cryptocurrency or fiat you want to withdraw.
Enter your wallet address or bank details, and confirm the withdrawal using two-factor authentication (2FA). Be aware of withdrawal fees, which vary by asset and method.
Bybit’s insurance fund is designed to protect traders in the event of a liquidation beyond the margin.
If a trader’s position is liquidated and they owe more than their available balance, the fund helps cover the shortfall, preventing auto-deleveraging (ADL).
Bybit offers 24/7 customer support through live chat, email, and its help center. The live chat is available directly on the platform, and email support is available for more complex inquiries.
Bybit supports over 60 fiat currencies through its P2P trading platform, including USD, EUR, GBP, and more.
You can deposit and withdraw fiat via bank transfers, third-party services, and other methods, depending on your region.
Review Crypto Exchanges
How We Rated Crypto Exchanges: Review Methodology
At The Smart Investor, we evaluated crypto exchanges based on their overall value, security, and trading experience compared to other leading alternatives. Our hands-on testing focused on key factors that matter most to traders and investors, including fees, security, liquidity, and available assets. Each exchange was rated based on the following criteria:
- Fees & Costs (15%): We prioritized exchanges with low trading fees, competitive spreads, and transparent pricing. Some platforms had hidden withdrawal fees or costly trading structures.
- User Experience & Interface (15%): A fast, intuitive, and well-designed platform scored highest. Some exchanges felt clunky or slow, impacting trade execution and overall experience.
- Security & Regulation (20%): We favored exchanges with strong encryption, two-factor authentication (2FA), cold storage, and regulatory compliance. Some lacked proper security, making them high-risk.
- Trading Tools & Features (30%): The best exchanges offered advanced charting, real-time market data, order types (limit, stop-loss), and automation tools. Some lacked depth, limiting professional traders.
- Supported Cryptocurrencies (10%): We rated exchanges higher if they supported a broad range of cryptocurrencies, including major coins, altcoins, and stablecoins. Some had limited selections, restricting options.
- Liquidity & Execution Speed (5%): Exchanges with high liquidity, deep order books, and fast execution times scored highest. Lower-rated platforms had frequent slippage or delays.
- Additional Features (5%): We favored exchanges with staking, lending, fiat on-ramps, NFT marketplaces, and DeFi integration. Some lacked these extras, making them less versatile.
