⭐ Quick Verdict

Rating: 9.2 / 10
Best For: Professional traders, futures specialists, and users who want deep liquidity, advanced tools, and low fees.

Bybit remains one of the strongest global crypto exchanges for derivatives, liquidity depth, and pro-level trading tools. With lightning-fast execution, low fees, and a rich ecosystem—including spot, futures, Earn, copy-trading, bots, options, and staking—Bybit is ideal for serious traders.

However, it’s restricted in major jurisdictions like the US, its fiat access depends heavily on region, and it suffered a major $1.5B hack in early 2025 (recovered via transparency measures and solvency reassurances).

What Is Bybit?

Bybit launched in 2018 and is headquartered in Dubai, positioning itself as a high-performance derivatives exchange built for professional traders. Over the past seven years, it has evolved into a multi-product ecosystem offering:

• Spot trading
• Perpetual futures
• Options
• Copy trading
• Grid bots & automated trading
• NFT marketplace
• Earn products (staking, dual investments, lending)
• Web3 wallet
• Fiat onboarding (region-dependent)

It consistently ranks among the top three global derivatives exchanges by open interest.

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Supported Regions & Restrictions

Available In

Bybit serves over 190 countries, including:
✓ Africa (South Africa, Nigeria, Kenya)
✓ Most of Asia (India, Indonesia, Philippines, Malaysia)
✓ Middle East
✓ Latin America

Fiat support varies widely depending on region.

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❌ Restricted or Prohibited Regions

• United States
• Canada (most provinces)
• United Kingdom (certain services restricted)
• Singapore
• China
• North Korea, Iran, Syria, Cuba, etc.

Users in these regions cannot trade derivatives, and often cannot use the platform at all.

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Regulatory Status

Bybit has acquired or applied for multiple licenses including:

• Cyprus (MiCA entry point)
• India FIU Registration
• UAE approval pathways

But it is not considered a fully Tier-1 regulated exchange like Coinbase or Kraken.

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KYC Requirements

Bybit enforces stricter KYC rules than offshore exchanges:

KYC Required For:

• Deposits
• Withdrawals
• Spot trading
• Futures & margins
• Fiat rails
• Earn products
• Copy trading

No-KYC Trading:

Not supported beyond browsing the interface.

Summary:
Bybit is pro-level, not a no-KYC exchange. Users seeking KYC-optional trading may prefer KCEX, Bitunix, MEXC (Tier 0), or Toobit.

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Bybit Trading Features

1. Spot Trading

Bybit offers:

• 600+ listed assets
• Ultra-low slippage on major pairs
• One-click chart trading
• TradingView integration
• Market, limit, conditional & advanced order types

The spot interface is sleek, fast, and responsive.

2. Futures & Perpetual Contracts 

Bybit is known for its world-class derivatives engine:

• Perpetual contracts
• USDT-margined & inverse contracts
• Up to 100× leverage
• Deep liquidity
• Institutional-grade matching engine
• Real-time funding rates
• Insurance fund for liquidation events

If you trade derivatives, Bybit is top 3 globally.

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3. Copy Trading

Bybit’s copy trading is among the most sophisticated:

• Transparency (PnL, drawdown, win rate)
• Multi-strategies
• Trader caps
• Risk controls
• Auto-deleveraging management

This makes Bybit beginner-friendly without compromising pro features.

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4. Bots & Automated Trading

Bybit includes:

• Grid trading (spot & futures)
• DCA bots
• AI-suggested strategies
• Easy backtesting
• API connectivity for algo traders

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5. Earn Products

Includes:

• Staking
• Dual investments
• Launchpool
• Savings accounts
• Liquidity mining

Returns vary based on risk appetite.

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6. Options Trading

Bybit supports European-style crypto options (BTC, ETH).
Great for hedging or advanced directional strategies.

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Bybit Fees 

Spot Fees

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Futures Fees

Summary:
Bybit is one of the cheapest major exchanges for high-volume futures.

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Other Fees

• Deposits: Free
• Fiat fees: Processor-dependent
• Withdrawals: Network-based (BTC, ETH, USDT etc.)

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Supported Cryptocurrencies

Bybit supports:

• 600+ spot tokens
• Hundreds of perpetual contracts
• Major assets (BTC, ETH, SOL, BNB, XRP)
• Trending categories: AI, GameFi, memecoins, RWAs
• Early launchpad listings

Not as many microcaps as MEXC, Gate, LBank — but liquidity is far deeper.

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Security & Track Record

Security Infrastructure

• Multi-sig cold storage
• Hardware security modules
• TSS custody
• Insurance fund
• 2FA, address whitelisting, device controls
• DDoS protection
• Real-time anomaly detection

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⚠️ The 2025 $1.5 Billion Hack

In February 2025, Bybit experienced one of the largest crypto exchange hacks in history, with ~$1.5B in ETH stolen from a single wallet.

What Happened Next:

• Bybit confirmed solvency
• Activated protection funds
• Reorganized hot wallet management
• Raised transparency standards
• No user balances lost

This event damaged public perception but the exchange’s response was widely seen as strong and professional.

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User Experience & Platform Quality

Desktop

• Rich, feature-dense interface
• Smooth charting
• Fast execution
• Perfect for pro traders
• Slight learning curve for beginners

Mobile App

Pros:
✓ Full-feature trading
✓ Clean interface
✓ Secure and fast
✓ Copy-trading built-in

Cons:
✗ Heavy for older devices
✗ Occasional high-load issues during large listings

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Customer Support

Bybit provides:

• 24/7 live chat
• Multilingual support
• Email helpdesk
• Detailed support center
• YouTube & academy content

Support is above average compared to industry standards.

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Bybit Pros & Cons

Pros

✓ Extremely deep liquidity
✓ Low spot and futures fees
✓ Advanced derivatives platform
✓ Reliable mobile app
✓ Copy trading + bots
✓ Institutional-grade execution
✓ Strong transparency after hack

Cons

✗ Not available in USA, Canada, Singapore
✗ Steeper learning curve
✗ Fiat access inconsistent across regions
✗ 2025 hack raises historical caution

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Bybit vs Competitors 

Bybit vs Binance

• Bybit: Better derivatives
• Binance: Better fiat access, larger ecosystem

Bybit vs MEXC

• Bybit: More regulated, deeper liquidity
• MEXC: More tokens, no-KYC withdrawals

Bybit vs KCEX

• KCEX: No KYC + simple
• Bybit: Advanced tools, stronger infrastructure

Bybit vs Gate

• Gate: Massive altcoin variety
• Bybit: Better pro-trading tools & security

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⭐ Final Rating: 9.2 / 10

Best For:
✔ Futures traders
✔ Copy traders
✔ High-volume spot traders
✔ Professionals & algorithmic traders
✔ Users wanting institutional infrastructure

Avoid If:
✗ You live in the U.S. or UK
✗ You want simple “buy crypto and hold”
✗ You prefer no-KYC platforms

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Bybit FAQ 

Is Bybit safe?
Yes — though the 2025 hack was significant, user funds remained intact and security measures have since tightened.

Does Bybit require KYC?
Yes — Bybit enforces mandatory KYC for full platform usage.

Is Bybit available in the US?
No — the platform is restricted in the United States.

What is unique about Bybit?
Institutional-grade liquidity, low fees, powerful derivatives engine, advanced copy-trading.

How many cryptocurrencies does Bybit support?
More than 600 coins and hundreds of perpetual contracts.

Get started on Bybit.