Bybit Review 2025: Complete Exchange Overview
The world of cryptocurrency can feel like a maze, especially with over 1,600 exchanges available today, according to Blockspot.io. For newcomers, the options can be overwhelming.
Each exchange offers its own blend of features, trading pairs, and fee structures, so it’s important you take the time to evaluate your choices before diving in. Key factors like security, user experience, liquidity, and the variety of assets on offer are crucial for creating a safe and efficient trading environment.
With security breaches and regulatory hurdles popping up frequently, assessing an exchange’s reliability is paramount. It’s not just about safety, either — having a diverse range of trading options, a user-friendly interface, and responsive customer support can greatly enhance your trading experience.
Bybit is one exchange that checks all of these boxes.
In this Bybit review, we will give you everything you need to know about the exchange.
Bybit is a popular cryptocurrency exchange known for its high-leverage trading options, offering up to 100x on derivatives and a user-friendly platform with advanced features like copy trading, trading bots, and Bybit Earn. It boasts strong security measures, including cold storage and multi-signature wallets, ensuring a secure trading environment.
Great Selection of Tradeable Assets- Bybit offers a wide range of trading instruments including derivatives, spot, and instant buy crypto features.
Professional Grade Trading & Matching Engine- Bybit is known for its ultra-fast matching engine and instant trade execution.
Multilingual Support– Bybit offers good customer support, available in multiple languages.
Leverage trading available
NFT Marketplace
Fiat Withdrawals
Crypto Loans
Bybit Copy Trading
Bybit crypto debit card
Note: Users located in the US and UK are not supported.
Bybit Overview:
Bybit is a cryptocurrency exchange specializing in derivatives and futures trading, with a spot trading market.
Initially based in Singapore, it moved its headquarters to Dubai in 2022 and operates under Bybit Fintech Limited, which is registered in the British Virgin Islands. The platform is known for offering high-leverage trading options, up to 100x on perpetual contracts, which has attracted both retail and institutional traders.
Bybit has quickly risen to become one of the top cryptocurrency exchanges, ranking second in derivatives trading behind Binance according to CoinGecko. The exchange’s main products include perpetual futures, but it also supports spot trading with leverage up to 10x.
Note: While the leverage feature on Bybit is popular, the use of high leverage is incredibly risky and is recommended for expert traders only. Be sure to understand the risks of leverage before utilizing it.
To ensure security, Bybit uses cold storage solutions, multi-signature addresses, SSL encryption, and additional user security measures such as two-factor authentication (2FA) and anti-phishing codes. It has a high-security rating from external audits.
Bybit also offers several unique features, including an insurance fund to protect traders from shortfalls in liquidation events, advanced order types, a robust matching engine, and customizable trading interfaces. In addition to trading, Bybit provides products like Bybit Earn, copy trading, options trading, and an NFT marketplace. It supports fiat deposits and withdrawals for various currencies and offers a mobile app for trading on the go.
Bybit has become a popular exchange globally but is restricted in certain jurisdictions, such as the United States, Syria, and Quebec.
If you are interested in Guy’s take, feel free to check out the guide he put together below:
Getting Started with Bybit
Getting started with Bybit is a breeze. You have two options for signing up:
- Through your email address
- Via your mobile phone number
To kick things off, just head over to the Bybit homepage and click the “Sign Up” button in the top-right corner. You’ll see prompts for both sign-up methods — pick the one that suits you best. If you have a referral code, go ahead and enter it; if not, no worries — you can skip that step.
Here’s where it gets a little different: if you decide to sign up with your email, you’ll receive a reCAPTCHA verification code in your inbox. Just check your email, grab that code, and enter it on the Bybit site. If you go the mobile route, the verification code will come as a text message instead. Once you input that code, you’ll be all set to explore the platform!
Don’t forget: If you use our special sign-up link, you could snag up to a $30,000 bonus.
Bybit KYC
Bybit is a centralized exchange that follows regulatory measures to prevent money laundering, requiring users to undergo Know Your Customer (KYC) verification to access its products and services. The KYC process has two levels:
- Level 1: Mandatory for all users, offering benefits like a daily withdrawal limit of up to 1 million USDT. However, it does not provide access to the Bybit Card.
- Level 2: This level allows users to access the Bybit Card and raises the daily withdrawal limit to up to 2 million USDT.
KYC is important for several reasons on Bybit:
- Regulatory Compliance: It helps Bybit meet legal requirements.
- Fraud Prevention: KYC aids in detecting and preventing illegal activities and suspicious behavior.
- Enhanced Services: Users who complete KYC can access fiat services, earn products, and enjoy higher daily withdrawal limits.
- Exclusive Offers: KYC verification unlocks access to special promotions and events, such as Launchpads.
- Account Recovery: A KYC-verified account simplifies the process of recovering access in case of lost credentials.
Funding Your Account
Bybit supports a variety of deposit methods:
- Crypto deposit: Involves transferring cryptocurrency from an external wallet or another exchange to your Bybit account
- Buy crypto using fiat currency: You can buy the crypto of your choice on Bybit using fiat currencies such as the US dollar and the euro.
- Credit/debit card payment: Linking your credit/debit card allows you to fund your account without relying on third-party channels.
- Third-Party Payment: To facilitate third-party payments, Bybit has partnered with over a number of service providers.
- P2P Trading: This provides a straightforward peer-to-peer platform designed for the buying and selling of coins between two users.
Bybit Order Types
Here are the main types of orders you can use on Bybit
- Market Order: Executes immediately at the current market price for quick entry or exit.
- Limit Order: Allows you to set a specific price at which you want to buy or sell an asset. For example, you can place a limit order to buy Bitcoin at $65,000, which will execute automatically once the price reaches that level.
- Conditional Order: Activates when certain conditions are met, such as reaching a trigger price, and can use various reference prices for activation.
- Stop-Entry Order: Triggers a market or limit order when a predetermined price is reached, with buy stop orders set above and sell stop orders set below the last traded price.
- Take Profit and Stop Loss Orders: Automatically close a position at a specified profit (take profit) or loss (stop loss) level.
- Iceberg Order: Splits larger orders into smaller ones to reduce market impact and slippage, hiding the total order size.
- One-Cancels-the-Other Order: Pairs two conditional orders so that if one is executed, the other is automatically canceled.
- Post-Only Order: Ensures that a limit or conditional limit order is placed in the order book unless there’s an immediate match, preventing market execution.
- Reduce-Only Order: Allows you to decrease your position size without increasing it.
- Close on Trigger: Automatically closes a position when a specified condition is met.
- Trailing Stop Order: Follows the market price at a set distance, adjusting the stop price as the market moves.
- Time-Weighted Average Price (TWAP) Order: Executes a large order gradually over a specified time to minimize market impact.
- Scaled Order: An algorithmic approach to executing large orders without causing significant price fluctuations.
- Chase Limit Order: Continuously adjusts its entry price to stay at the best bid or ask until filled, canceled, or reaching a set maximum chase distance.
For a step-by-step guide funding your account and placing your first order, check out our Bybit trading guide article. We also have a detailed Bybit sign-up guide, which also touches on how complete Bybit KYC.
Bybit Review: Products and Features
Bybit offers a wide array of products and features that cater to both novice and seasoned traders alike. Let’s take a closer look at what makes Bybit an appealing choice for cryptocurrency enthusiasts.
Bybit Convert
Bybit Convert is all about simplicity and convenience. It allows users to swap between fiat currencies and various cryptocurrencies with just a click, making it incredibly user-friendly — especially for those who are put by complex charts or market analysis.
The feature supports a broad range of trading pairs, allowing you to easily convert your assets as needed. Most conversions happen instantly, allowing you to take advantage of market fluctuations in real time. This feature spans across different account types, including spot, funding, and derivatives, which means you can use it flexibly.
Keep in mind: Bonus balances can’t be converted, so it’s a good idea to familiarize yourself with the rules surrounding your funds.
Bybit Earn
Bybit Earn isn’t just a single product; it’s a collection of seven different financial tools.
Bybit Savings lets you park your cryptocurrencies and earn interest over time.
ETH2.0 Liquid Staking allows you to stake your Ethereum while keeping your assets accessible.
Liquidity Mining encourages you to contribute to liquidity pools in exchange for rewards.Dual Asset enables you to benefit from price movements in two different assets at once.
Double-Win offers a way to potentially profit regardless of market direction, making it a great hedge against volatility.
Wealth Management provides personalized investment strategies tailored to your financial goals.
Launchpool gives you early access to new token projects, allowing you to invest before they go mainstream.
Check out our full review of Bybit Earn.
Bybit Lending and Crypto Loans
If you have idle cryptocurrencies just sitting in your wallet, Bybit Lending is a great way to put them to work.
This product lets you lend your assets to other users, earning hourly interest on your contributions. Bybit matches lenders with borrowers, whether they’re looking for funds for margin trading or other needs. They take asset safety seriously, employing multiple risk management strategies to protect your investments.
On the flip side, if you need quick access to liquidity, Bybit Crypto Loans allow you to borrow funds without selling your crypto. You can use your assets as collateral for short-term loans with terms ranging from 7 to 180 days. However, keep an eye on the liquidation risk; if the value of your collateral drops below a certain level, Bybit may liquidate it to cover your loan.
It’s essential to stay informed about the terms, especially regarding overdue interest, which can escalate quickly if you miss repayment deadlines.
Bybit Rewards Hub
The Bybit Rewards Hub is like a treasure chest filled with opportunities to earn rewards simply by engaging with the platform. Users can complete various tasks, such as signing up or inviting friends, to earn exciting bonuses.
These rewards can come in different forms:
Bonuses that help offset trading lossesCoupons that reduce trading fees
Airdrops of tokens you can use as you wish
Fee discounts that lighten the load on your trading costs
APY boosters that enhance your yield in Bybit Earn product
Loss cover vouchers to cushion potential losses during trading
Each reward comes with its own set of conditions and timeframes.
Bybit Trading Bots
For those who prefer a hands-off approach, Bybit’s Trading Bots are here!
These automated tools execute trades on your behalf, allowing you to take a break from constant market monitoring. Bybit offers several types of bots, each designed to cater to different trading strategies:
- Spot Grid Bot is perfect for taking advantage of price volatility. It places buy orders below and sell orders above a specific reference price, continuously adjusting to market changes.
- Futures Grid Bot operates in the perpetual contract market, utilizing leverage to maximize potential profits. You can choose from three modes—long, short, or neutral—depending on market conditions.
- DCA Bot (Dollar-Cost Averaging) helps you invest regularly without worrying about market timing, which is especially beneficial for long-term investors.
While these bots can enhance your trading experience and help you capitalize on opportunities, they also come with risks, particularly in volatile markets, so it’s wise to approach them with a good understanding of how they work.
Bybit Copy Trading
If you’re new to trading or simply want to benefit from the expertise of experienced investors, Bybit Copy Trading is an excellent option. This feature allows you to replicate the trades of successful traders on the platform.
There are two main modes:
- Smart Copy Mode lets you follow master traders with a fixed risk ratio based on your balance, providing a level of safety.
- Advanced Copy Mode gives you the flexibility to customize your order settings, ideal for those with a bit more experience.
This feature has become quite popular, as it allows users to diversify their portfolios while leveraging the skills of others, making it a win-win situation for many traders.
Bybit Crypto Card
The Bybit Card is a digital Mastercard that simplifies the process of spending your cryptocurrencies in everyday transactions.
Users can choose one fiat currency (EUR or GBP) and one cryptocurrency (like BTC, ETH, XRP, USDT, or USDC) to fund their card. While the digital version is free to use, there’s a fee for the physical card, which takes up to 30 days to arrive. One limitation is that the Bybit Card cannot be added to digital wallets like Apple Pay or Google Pay, which may make it less convenient for some users.
While there are no annual fees, users should be aware of a 0.5% foreign exchange fee and a 0.9% crypto conversion fee, which applies if you don’t have enough fiat to cover a transaction.
Bybit Wallet
The Bybit Wallet is a custodial wallet, meaning that the exchange holds your assets and manages the private keys. This setup allows you to easily access a range of decentralized applications in DeFi, GameFi, and NFT marketplaces. The wallet also features cross-chain compatibility, making it simple to manage multiple assets across different platforms.
Key functionalities include private key management, automatic collection of airdrops, and access to DeFi products, which broadens your investment horizons and enhances your engagement with the crypto ecosystem.
Bybit NFTs
Bybit’s NFT marketplace is an exciting space for buying, selling, and trading non-fungible tokens.
Supporting both Ethereum and Solana blockchains, users can transact using ETH, XTZ, and USDT. However, it’s worth noting that NFTs can only be priced with one token at a time. The marketplace charges a 1% trading fee for sellers, along with a royalty fee for creators, which helps support the artistic community.
Currently, NFT deposits are only supported on Ethereum, while withdrawals can be made on both Ethereum and Solana.
Bybit Launchpad
The Bybit Launchpad is designed for those eager to get in on the ground floor of new blockchain projects.
It provides access to token sales before they go public, allowing you to invest early in potentially promising projects. Users can participate by committing Mantle (MNT) or using lottery tickets to gain allocations for new tokens. The process features multiple phases that include a warmup period, subscription, allocation selection and the announcement of results.
TradeGPT
Bybit TradeGPT leverages real-time market data to offer insights and suggestions tailored to your trading strategies.
Unlike traditional chatbots, TradeGPT provides up-to-date information on market trends, potential investment opportunities, and technical analysis.
ByStarter
ByStarter serves as a platform for token sales, where users can invest in early-stage digital assets.
The process unfolds in multiple phases, starting with a warmup period for KYC verification, followed by a subscription phase where you commit funds. Then comes the allocation phase, where winners are randomly selected to receive tokens. A lock-up period follows, during which token holders are prohibited from selling their assets.
VIP Program
Bybit’s VIP program is designed to reward loyal traders based on their trading activity and asset holdings.
It features several tiers, each offering unique benefits such as lower trading fees, access to exclusive campaigns, and priority customer support.
Institutional Services
For institutional clients, Bybit provides a comprehensive range of specialized services. These include over-the-counter (OTC) trading solutions, liquidity programs, and customized trading strategies designed to meet the unique needs of larger trading operations. These clients also get access to a dedicated support team ensuring real-time security alerts and robust risk management.
