Bybit Review
Best For
Future trading.
Bybit is one of the top crypto derivatives exchanges — known for its high liquidity, low fees, and robust trading tools.
Pros
- Low Fees
- Up to 100 x leverage
Cons
- No fiat deposit/withdrawal
- Not available in us
- The company has no long real track record
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Bybit Exchange Review: The Derivatives Powerhouse
Bybit is a fast-growing cryptocurrency derivatives exchange founded in 2018, headquartered in Dubai. It has grown to become the world's second-largest crypto exchange by trading volume, known for its perpetual contracts, copy trading, and professional trading tools.
Background
Bybit was founded by Ben Zhou in 2018 and initially launched as a derivatives-focused exchange. The company relocated from Singapore to Dubai in 2022. Despite regulatory challenges in some jurisdictions (restricted in the UK and several other countries), Bybit serves millions of traders globally and has expanded from derivatives into spot trading, Web3, and institutional services.
Key Features
Derivatives Trading: Bybit is best known for its USDT-perpetual and inverse contracts. It supports:
- Up to 100x leverage on BTC/USDT perpetuals
- Linear and inverse perpetual contracts
- Options trading
- Structured products
Spot Trading: Full spot exchange with 500+ trading pairs and deep liquidity.
Copy Trading: Follow and automatically copy the trades of top-performing professional traders.
Bybit Launchpad: Early access to new token launches.
Bybit Earn: Savings products, flexible APY on stablecoins and crypto holdings.
Web3 Wallet: Integrated non-custodial wallet for DeFi and NFT access.
Fees
| Type | Fee |
|---|---|
| Spot Maker | 0.10% |
| Spot Taker | 0.10% |
| Derivatives Maker | 0.02% |
| Derivatives Taker | 0.055% |
Volume discounts and BGB token discounts available.
Security
- Cold wallet storage for majority of funds
- Multi-signature withdrawal
- Two-factor authentication (Google Authenticator + email)
- Withdrawal whitelist
- Bug bounty programme
Bybit suffered a $1.4B hack in February 2025 — the largest crypto exchange hack in history — attributed to a compromised Safe{Wallet} multisig. Bybit fully covered all losses from its own reserves, maintaining 1:1 proof of reserves throughout.
Verdict
Bybit is a powerful exchange for traders who want deep liquidity, low derivatives fees, and advanced trading tools. The copy trading feature is excellent for less experienced traders. Be aware of the jurisdictional restrictions and the 2025 security incident (though user funds were protected).
- World's second largest exchange by volume
- Low derivatives fees
- Copy trading
- Deep liquidity
- Restricted in UK, EU (some countries)
- $1.4B hack (Feb 2025) — funds recovered
- High leverage suitable only for experienced traders
Maja & Leo
Reviewed by practitioners who actually use these products.
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