Before we dive into the detailed analysis, here's a summary of Bybit's key metrics at a glance.
Bybit Quick Overview
About Bybit: Origins and Who It's For
Bybit is a cryptocurrency exchange founded in 2018 that has historically focused on trading. The global brand claims to have over 80 million users and offers spot trading, derivatives, bots, Earn, a card, payments, and tools for professional traders.
Pros
Global presence and licenses in the UAE, Europe, and other markets
Order book, derivatives, bots, copy trading, and API
Monthly Proof of Reserves with Merkle Verification
Earn flexible and fixed rewards, a card, and numerous fiat payment methods
Cons
Products, fees, and financial institutions vary by country
It is not available in the United States, Canada, or mainland China
Bybit suffered the largest exchange hack in February 2025
Trustpilot has received many complaints about account suspensions and customer support
Global operations are organized through various entities and domains. In the United Arab Emirates, Bybit obtained the first full federal license as a Virtual Asset Platform Operator in October 2025, granted by the Securities and Commodities Authority, which is now part of the new federal capital markets structure.
Regional separation is important. A feature available on Bybit Global may not be available on Bybit EU, Bybit Kazakhstan, Bybit Georgia, or the local platforms in India and Turkey. Each user must use the entity corresponding to their country of residence.
Who is Bybit for? For users looking for a trading-focused platform who want to combine spot trading, derivatives, bots, copy trading, Earn, and payments. It’s better suited for intermediate or advanced users than for someone who just wants to buy Bitcoin once a month.
The learning curve is steeper than on Coinbase, BLOX, or Finst. The unified account, separate balances, advanced orders, and VIP tiers offer flexibility, but they also increase the risk of making mistakes if you start out without knowing the platform.
One of its key differentiators is its combination of automated tools. Bybit Global allows users to set up bots, copy trading, and compatible strategies without connecting external software, and also offers APIs and sub-accounts for advanced users.
The offering varies by region. In markets where Bybit Global is available, the product lineup is much broader; in the EEA, users trade through Bybit EU under MiCA. This fragmentation improves regulatory compliance but makes it more difficult to compare products and fees.
What level of security does Bybit offer?
Bybit combines multi-signature cold storage, Proof of Reserves, two-factor authentication, withdrawal controls, and regional regulatory frameworks. However, any responsible analysis must include the attack suffered by the global platform on February 21, 2025.
The public assessment of global dominance is presented as follows:
Global Regulation and MiCA Authorization in Europe
Bybit does not operate globally under a single license. The group uses regional entities supervised by different regulators and restricts access when it does not have authorization or chooses not to provide services.
In October 2025, it obtained a full federal license as a Virtual Asset Platform Operator in the United Arab Emirates. This authorization allows the company to offer trading, brokerage, custody, and fiat conversion services to retail and institutional clients within the authorized scope.
In the European Economic Area, Bybit EU GmbH, registered under number FN 636180i and headquartered in Vienna, received MiCAR authorization from the Austrian FMA on May 28, 2025. The license covers custody, exchange for funds, exchange between cryptoassets, placement, and transfers.
Bybit also holds registrations or licenses in jurisdictions such as Kazakhstan, Georgia, India, and Turkey, with varying scopes. On August 4, 2026, the FMA granted Bybit Payments GmbH an electronic money license for certain European payment services.
Custody and protection of funds
Bybit states that it uses multi-signature cold wallets to store deposited assets. Sensitive transactions require additional checks, and withdrawals go through confirmation procedures.
Segregation and custody requirements vary by regional entity. In the EEA, MiCA safeguards apply; in other markets, local licensing regulations govern. Holding funds on an exchange involves counterparty risk, and the user does not control the private keys.
Key protection measures include:
- Primarily cold storage with a multi-signature scheme.
- Reserve Proof with Merkle Tree Verification.
- Google Authentication, passkeys, and biometric verification.
- Custom anti-phishing code in official communications.
- Whitelist of addresses and withdrawal confirmations.
- Secure Transaction Approval from the primary device.
Reserve Test and transparency
Bybit publishes a global Proof of Reserves report that allows users to verify liabilities using Merkle trees and displays addresses and coverage ratios for the included assets. The company announces 1:1 reserves that are verified on a regular basis.
Users can enter their audit ID to check whether their balance was included in the snapshot. This verification provides transparency, but it does not replace a full financial audit nor does it demonstrate the financial soundness of all entities in the group.
Following the February 2025 attack, Hacken published reports showing ratios exceeding 100 % for the assets in question. Bybit’s swift restoration of liquidity prevented prolonged disruptions to withdrawals, but the incident remains a key precedent.
The attack targeted an Ethereum cold wallet during a signing process and resulted in the theft of approximately 1,400–1,500 million dollars in ETH and stETH. It was attributed to the Lazarus Group. Bybit assured customers that their funds remained secure and covered the shortfall with its own resources and financing.
Account Security
Bybit allows you to secure access with a password, 2FA, passkeys, and biometrics, although the exact features may vary by region. The anti-phishing code helps distinguish authentic emails from fake messages.
Secure Transaction Approval links a primary device. If a withdrawal is initiated from the website or another device, the primary app receives a request to approve or reject it.
Pros
Regional Licenses in the UAE, the EEA, and Other Markets
Monthly Proof of Reserves and Merkle Verification
Multi-signature cold wallets and secure approval
2FA, passkeys, biometrics, and anti-phishing code
Cons
There is no single global license that covers all users
The test does not replace a comprehensive financial audit
The 2025 attack exposed a critical flaw in a signing process
Compliance reviews can delay recalls
Where is Bybit available?
Bybit operates in more than 160 countries and regions through its global platform and local entities. Specific availability depends on nationality, residence, location, and the product requested.
The global list of excluded jurisdictions includes the United States, mainland China, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Sudan, Syria, Crimea, Donetsk, Luhansk, Rostov, and Sevastopol. Bybit may impose restrictions due to sanctions, licensing requirements, or risk considerations.
Within the EEA, Bybit EU covers 29 countries, excluding Malta. In the UAE, Kazakhstan, Georgia, India, Turkey, and other markets, local platforms or entities may be involved. Even within a supported country, derivatives, P2P, Earn, or the card may be subject to restrictions.
Bybit Fees: How Much Does Trading Really Cost?
Bybit uses a maker/taker structure with VIP tiers determined by balance or volume over the past 30 days. The fee varies by market, product, and entity, and is displayed under “My Fee Rate.”.
Global trading fee: 0.10 % for makers and 0.10 % for takers
In August 2026, a non-VIP user on Bybit Global typically pays a 0.10 % maker fee and a 0.10 % taker fee for spot trading. Perpetual contracts and futures start at 0.02 % for makers and 0.055 % for takers, while options start at 0.02 % and 0.03 %.
| Platform | Maker | Taker |
|---|---|---|
Binance
|
0,10% | 0,10% |
Bybit
|
0,10% | 0,10% |
Bitvavo
|
0,15% | 0,25% |
Kraken
|
0,25% | 0,45% |
Coinbase
|
0,40% | 0,60% |
eToro
|
1% | 1% |
VIP tiers progressively reduce fees based on balance and trading volume. Exact rates may vary by region. On Bybit EU, VIP Tier 0 is different: 0.10 % for makers and 0.25 % for takers in August 2026.
Did you know? A spot purchase of 1,000 USDT costs 1 USDT with the flat fee of 0.10 %, whether it is executed as a maker or a taker.
Deposits and Withdrawals: Global Fiat Payment Methods
Bybit supports different fiat currencies and payment methods depending on the country, including bank transfers, credit/debit cards, Google Pay, Apple Pay, third-party providers, and P2P. The fee is displayed before confirmation and may be charged by Bybit, the bank, the provider, or the P2P advertiser.
Fiat withdrawal fees depend on the currency and the method. In Europe, the published guide listed 0.08 % plus €5.50 for SEPA and €1.60 for ZEN.COM, but these figures should not be extrapolated to other regions.
Bybit does not charge a fee for on-chain deposits. Crypto withdrawals are subject to a variable fee based on the asset, network, and network congestion, which is displayed next to the minimum withdrawal amount.
Earn Commission and Advanced Products
Bybit Earn offers flexible and fixed Easy Earn options, on-chain staking, and more complex products such as Dual Asset, Liquidity Mining, and Wealth Management globally, where permitted. The regional offering may be much more limited.
The APR is variable and not guaranteed. Users should distinguish between on-chain staking, promotions, and products where Bybit generates returns through third parties or its own strategies.
The spot margin accrues interest on borrowed funds and may incur a settlement fee. Bots do not necessarily have a separate fee, but each order pays the corresponding spot fee.
| Concept | Cost on Bybit |
|---|---|
| Non-VIP Global Spot | 0.10 % maker / 0.10 % taker |
| Perpetual and Future Non-VIPs | 0.02 % maker / 0.055 % taker |
| Non-VIP Options | 0.02 % maker / 0.03 % taker |
| Fiat deposit | Varies by currency, method, provider, and region |
| Cryptocurrency Deposit | 0 € via Bybit; the source network charges the fee |
| Crypto Withdrawal | Commission varies depending on the asset and network |
| Bybit Earn | Variable APR depending on the product, asset, and region |
Step-by-Step Guide to Opening an Account on Bybit
Opening an account on Bybit requires registration, selecting the correct country, and identity verification. The account type, limits, and products are assigned based on your country of residence and applicable regulations.
Step 1: Initial registration
The process begins on the official website or app for the region. You can sign up for an account using your email address, phone number, or Google account, along with a password and a verification code.
Users must correctly declare their place of residence. EEA residents are directed to Bybit EU; users in other regions may use Bybit Global or a local platform. Do not use a VPN to circumvent geographic restrictions.
Step 2: Identity Verification (KYC)
Bybit requires KYC to access most of its services and may have different requirements depending on the region. The process includes:
- A valid form of identification, such as a national ID card or passport.
- Selfie or biometric verification.
The platform may request your address, tax residence, occupation, source of funds, and additional documents. Advanced Verification increases certain limits and is required for some features, such as the physical card.
Automatic verification is usually completed within minutes, but a manual review may take longer. Public comments indicate that source-of-funds checks and withdrawals are among the main points of friction.
Step 3: Link a bank account
Depending on the country, different methods may be used:
- Local bank transfer, SEPA, or SWIFT, when compatible.
- P2P and third-party payment providers.
- Visa or Mastercard.
- Google Pay, Apple Pay, and PayPal, when available.
Did you know? The name on the bank account, card, or provider must match the KYC information. Third-party payments may be declined and trigger an additional account review.
Step 4: First deposit and first trade
Once the funds have been credited, they are transferred to the Unified Trading Account if necessary. Next, you select the market, the order type, and the amount.
On the global spot market, a market order typically incurs a 0.10 % taker fee. In derivatives, the fees and risks vary. Enabling "Post-Only" prevents a limit order from being executed immediately as a taker.
Summary of Requirements for Opening an Account on Bybit
- Be older than 18.
- Reside in a country or region supported by Bybit.
- Have a valid identification document.
- Complete at least the Standard verification.
- Provide a selfie and regulatory information.
- Use a bank account or card in the account holder's name.
- Provide proof of the source of funds when requested.
Important note: Limits depend on your KYC level, payment method, and account risk. Before sending a large amount, it's a good idea to check your personal limits and test a small withdrawal first.
Available cryptocurrencies: more than 600 worldwide
Bybit Global allows users to trade more than 600 cryptocurrencies and hundreds of trading pairs. These include Bitcoin, Ether, XRP, Solana, Cardano, Dogecoin, Chainlink, Avalanche, Polkadot, SUI, TON, and numerous smaller-cap tokens.
The global number should not be used as a guarantee for all countries. An asset may be available for spot trading, but not for derivatives, Earn, deposits across all networks, or direct purchases with fiat.
Bybit Learn, bots, and copy trading: education and automation
Bybit combines educational content with bots, copy trading, and professional tools. Users can access guides, set up automated strategies, follow other traders, and trade manually—all within the same ecosystem.
| Product | Focus |
|---|---|
| Bybit Learn | Guides on trading, security, networks, and risk management |
| Spot and Derivatives | Order Book, Perpetual Contracts, Futures, and Options by Region |
| DCA Bot | Automatic purchases of a single currency or a portfolio of up to five assets |
| Bybit Earn | Easy Earn, staking, and advanced products by region |
| TradingView and API | Charts, indicators, and integration of external strategies |
| Copy Trading | Automatic tracking of selected traders' strategies |
Beyond publishing content, Bybit integrates practical tools:
- Bots automatically execute orders based on defined parameters.
- DCA Bot supports a portfolio of up to five cryptocurrencies.
- Copy Trading allows you to replicate trades, but does not guarantee the same result.
- Subaccounts separate strategies and operating balances.
- The API allows you to connect third-party trading software.
Bybit Earn: Earnings on Your Cryptocurrencies
Bybit allows users to earn rewards through flexible, fixed, and on-chain products. BTC, ETH, USDT, USDC, and other assets are available depending on the region; Dual Asset and Liquidity Mining carry higher risks than a flexible savings product.
Highlights of Bybit Earn:
- Flexible plans with no lock-in periods and fixed-term options.
- Hourly billing and daily credit for flexible products.
- Variable APR based on the asset, credit limit, and market conditions.
- Product offerings are subject to KYC requirements, the financial institution, and regional availability.
Regular Purchases (DCA): Automate Your Purchases
Bybit allows users to create DCA bots and other automated strategies. The exact options vary by region; users define the amount, frequency, assets, and conditions within the available limits.
Each trade pays the applicable spot rate. DCA reduces reliance on a single entry price, but it does not eliminate volatility or guarantee returns.
Available order types
In addition to basic trading, Bybit offers:
- Market order: Executed against available liquidity and incurs a taker fee.
- Limit order: Sets the price and may pay a maker fee if it remains on the order book.
- Conditional and stop orders: These are triggered when the specified price is reached.
- Post-Only: Prevents a limit order from being executed as a taker.
Bybit vs OKX
The most natural comparison pits Bybit against OKX. Both operate globally through regional entities and offer spot trading, derivatives, margin trading, bots, Earn, a card, and Web3 tools, depending on the country.
| Characteristic | Bybit | OKX |
|---|---|---|
| Foundation | 2018 | 2017 |
| Regulation | Regional Licenses; MiCA via the FMA in Europe | MiCA via the MFSA starting in January 2025 |
| Initial commission | 0.10% maker / 0.10% taker | 0.20 % maker / 0.35 % taker (standard EEE) |
| Discounts | Balance or Volume and VIP Levels | By volume, assets, and VIP level |
| Fiat Deposits | Local Methods, P2P, and Providers by Country | Local Methods, P2P, and Providers by Country |
| Cryptocurrencies | More than 600 worldwide | Approximately 350+, depending on the region |
| Security | Monthly PoR, cold wallets, and MiCA controls | Monthly Reserve Test and MiCA Segregation |
| Unique Product | Derivatives, bots, copy trading, and unified accounts | Bots, Advanced Trading, and Web3 Wallets |
| Platform | Website, app, API, and subaccounts | Web, app, desktop, and OKX Wallet |
| Ideal for | Users who prioritize automation and trading | Users looking for advanced trading and the Web3 ecosystem |
Bybit Global offers a comprehensive trading experience and robust integration of bots and copy trading. Its spot trading fee of 0.10 % is competitive for non-VIP users.
OKX may be slightly cheaper as a maker and offers a more feature-rich Web3 wallet. The choice depends on the regional provider, the available derivatives, and personal preference for each interface.
Apps and Platform: How Do You Use Bybit on a Daily Basis?
Bybit offers regional apps for iOS and Android, a web platform, an API, and sub-accounts. Its global offering focuses on spot and derivatives markets, bots, copy trading, Earn, payments, and Web3.
The navigation is organized into several sections:
- Assets: Funding Account and Unified Trading Account.
- Trading: spot, margin, and advanced orders.
- Tools: DCA bots and compatible automation.
- Earn and Card: returns, payments, and rewards.
The unified account allows you to use assets as operating balance without moving them between multiple internal wallets. However, it’s important to understand which funds are available for trading, Earn, or the card.
In terms of functionality, Bybit is more powerful than a simple retail app. The sheer number of products, banners, and promotions can be overwhelming for a beginner.
Final Verdict: Is Bybit Worth It in 2026?
Bybit works particularly well for global users looking for advanced trading, derivatives, automation, and copy trading. Its liquidity, spot fee of 0.10 %, bots, Earn, and Proof of Reserves make for a comprehensive offering.
That said, there are three clear caveats: products and protections vary by provider, many countries are excluded, and the 2025 attack remains a security precedent that cannot be ignored.
All things considered, Bybit is a powerful option for spot trading, derivatives, and bots in supported countries. For a complete beginner, there are simpler platforms; before signing up, be sure to check your local jurisdiction, the available features, and the applicable regulatory protections.
This review is based on our actual experience using Bybit. We tested the platform by making deposits, buying, selling, and withdrawing cryptocurrencies, and we also evaluated its fees, security, and ease of use. The rating you see here reflects our hands-on experience, not just a first impression.
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