As known from:
Write a Review
Write a Review
Nothing Found
Contains commercial content / Bybit Review

Bybit Review 2024

Bybit Review 2024

Unfortunately, Bybit is restricted in your area.
We instead recommend one of's Top3 alternatives:
User Reviews
Video Review

Bybit is a newer platform that emerged onto the trading scene in March 2018. It offers an industry-leading leverage trading exchange that focuses on cryptocurrency derivatives, trading the major coins, such as Bitcoin, Etherrum and EOS trading against the US Dollar. The primary product offered on the exchange is perpetual futures products with 100:1 leverage – which puts Bybit very much in competition with other margin trading platforms such as BitMEX and Deribit. This Bybit exchange review is intended to give you an in-depth look at how the platform functions, as well as its main advantages and disadvantages.

Read More
Bybit: Pros & Cons
  • High leverage
  • Supports anonymity
  • Good customer support
  • Low fees
  • Bybit can review withdrawals three times per day
  • Advanced features may be confusing for new traders
  • Lack of fiat currency support
Payment Methods
CNMV - Comisión Nacional del Mercado de Valores
Accepts Customers from
Players from United States of America not accepted
Bybit Fintech Limited
Available Languages
Customer Support
Email Support
(284) 494-2423
Overall Rating
Rating follows
  • Usability, Look & Feel
  • Payment Methods
  • Customer Service
No review posted yet.
User Rating
5 Stars
4 Stars
3 Stars
2 Stars
1 Star

Watch our in-depth review of Bybit!

Video: BYBIT REVIEW - DO NOT Sign Up Until You Watch This 🤯

BYBIT REVIEW – DO NOT Sign Up Until You Watch This 🤯

Dave Thatcher
Dave Thatcher
Last Updated on 09/05/2024

Usability, look & feel - Bybit interface

No Bybit exchange review would be complete without a thorough look at the platform’s usability, appearance and general feel.

Bybit’s interface is one of the best looking on the market. The charts are provided by TradingView, and as such they are intuitive and well laid out, providing a great deal of information without appearing too cluttered. Of course, looks and appearance are subjective qualities that come down to personal taste, but we found the Bybit trading screen to be clean and accessible with innovative use of colour.

In terms of metrics, Bybit has a comprehensive display which allows you to easily keep track of your asset overview and positions and their respective windows can be moved around to suit your individual preferences. Users can also adjust the scale design parameters, such as the positioning of its axis, and which data is indicated. You also have the option to add other indicators, such as Volume, Relative Strength Index and Simple Moving Averages.

In summary, we found that Bybit gives users everything they need to draw trend lines, adjust indicators and monitor patterns in order to perfectly time their trading using markets, limits or stop orders.

Bybit payment options

First and foremost, Bybit is a crypto-only exchange and whilst it does offer higher versatility than many competitors when it comes to deposits and withdrawals,  there are no options for fiat transactions. At the time of writing, Bybit deposit options are Bitcoin, Ethereum, EOS and Ripple – however, there is an expectation that Bybit will expand this offering in the coming months. Depositing funds is free and there are no Bybit withdrawal fees, however, traders must bear in mind that all transfers include a blockchain mining fee. There is no Bybit minimum deposit, but withdrawal limits vary according to currency.

One major strength of Bybit’s is that they employ more staff to take care of manual processing than many competitors, which in turn means they can cover a larger volume of requests. As such, Bybit can review withdrawal requests up to 3 times per day compared to the industry standard of just 1 time per day.

Customer service - Bybit service review

For this section of our review, we will look at the customer service provided by the platform – something many traders overlook when choosing a new platform.

Bybit puts in a strong performance in this category as  the platform has a highly professional customer service team available 24/7.  The most effective way to get in touch is via the zendesk live chat function, which under normal circumstances will see you connected with an advisor within minutes. For less pressing inquiries, there is also the option to email the support team.  One minor drawback, however, is the lack of phone support, but this is becoming increasingly standard within the industry. There is also a FAQ resource for issues that might be more routine, as well as other guides and instructional information.

Support is offered in English, Simplified and Traditional Chinese, Korean, Japanese and Russian.

License & security - is Bybit regulated?

Bybit found has a fairly solid reputation when it comes to security – utilising a range of the latest protocols to provide maximum protection.

The platform employs multi-signature cold wallets and processes all withdrawals manually, so Bybit can review each transaction to safeguard traders’ assets. A minimal amount of funds are kept in hot wallets to facilitate instant withdrawals.

When it comes to accounts and information on Bybit safe, the platform uses two-factor authentication which can be carried out using email, SMS, or via the Google Authenticator app. The Bybit website itself also has full SSL encryption.

To date, there have been no reported Bybit scams and the platform has not experienced any security breaches – which certainly struck a positive note for our Bybit exchange review. Of course, this is to be expected from such a new exchange, but Bybit has established a reputation for good reliability in a short time.

Bybit Crypto

Trade Offer

The first section of this Bybit exchange review considers the cryptocurrencies that can be traded on the platform. Bybit offers perpetual contracts for four cryptocurrency assets: Bitcoin, Ethereum, Ripple, and EOS. Naturally, this means the platform isn’t ideal if you are someone looking to explore the lesser-known altcoins but it should be noted that Bybit will review its offering in the near future and already has plans to support tokens like LTC, TRX.

Whilst the support for funding Bybit accounts left something to be desired, we found that the platform makes up for this to some extent with its sophisticated leverage/margin trading platform. Traders looking for a higher risk/higher reward trading experience can invest in perpetual crypto derivative contracts against each other or against the dollar. This means Bybit users are not buying an underlying asset, but entering into an agreement with the seller for the future price of said asset. Traders can enter a short or long position on every currency pair available: BTC/USD, ETH/USD, EOS/USD, and XRP/USD with a maximum leverage of x100.

It should be noted that there are risks involved in Bybit futures trading and it is advisable to thoroughly research margin trading and CFDs before making any transactions.

Trading Costs

Another important category in this Bybit exchange review is the platform’s fee structure. Bybit trading fees follow a similar maker/taker pricing structure to many of its competitors – “makers” being those whose orders make the liquidity in Bybit markets and “takers” being those who take this liquidity by matching makers’ orders with their own. What this means is that the fees you pay will depend on whether or not you provide the exchange with liquidity.

The fee for takers is charged at 0.075% per order, which is a relatively standard fee for the industry. Makers, on the other hand, receive a 0.025% commission – so if you are the maker in a trade worth, say $1000, then you would only pay $997.50, which we found to be a favourable rate. The fees are the same whichever currencies the deal is made on.

There is also a small fee of 0.0005 Bitcoin for BTC transactions  –  lower than the global industry standard.

Trading Conditions

Bybit is used by traders around the world.  The exchange is supported in hundreds of different countries worldwide, including the UK, Australia and New Zealand. As such, it is a good option for traders who either travel often or have business interests in various countries.

There are, however,  a few jurisdictions in which the platform is unavailable. Most notably, the USA, due to compatibility issues with American trading rules, however there are plenty of other apps available for US users. Bybit is also banned in Singapore, China (mainland and Hong Kong) and Cuba, as well as North Korea. The website stated that Quebec also restricts trading, however, there is no mention of the rest of Canada, so Canadian users are advised to check with the platform directly. Bybit is continually looking to expand globally and it is possible that the jurisdictions in which it operates may change, so if you are looking to operate in one of the affected areas, it’s worth checking back occasionally to see if things have changed.

Product Conclusion

If by this stage you are considering giving Bybit a try, you might now be interested to know exactly how to use the platform and start making trades.

1. Registering your account



First thing’s first,  you’ll need to register for an account. This is very straightforward and our Bybit review found it takes no longer than fifteen minutes. Clicking on the “Register” tab leads to a form requiring a few details. You’ll need to enter your email address and come up with a password. Bybit then sends out a confirmation email.  It’s important at this stage to go into your account settings and set up two-factor authentication to ensure your account is as secure as can be.

2. Deposits



Now you are ready to deposit funds. Once again this is simple to action: the ‘Assets’ screen will show you options for both depositing and withdrawing. As Bybit is a crypto-based platform, you’ll be presented with a crypto deposit address as well as its corresponding QR code. Once the transaction is complete, the coins will be credited to your wallet.

3. Withdrawals



Making a Bybit withdrawal is easy. Whilst there is no stringent verification involved for Bybit, you will need to ensure 2FA has been activated first. Bybit processes all withdrawals offline and does so in 3 batches per day. These are carried out at 0800, 1600 and 2400 hrs UTC Time. The cut-off time for requests is 30 minutes prior to the processing time, to allow enough time for Bybit to review the transactions, and funds should reach your account within a couple of hours. Our Bybit exchange review notes that there is a 10BTC Bybit withdrawal limit.

4. Trading options



When it comes to using Bybit and how to trade, users have a few options. It should be remembered, however, that Bybit allows users to trade in perpetual crypto derivative contracts. This subject is far beyond the scope of this Bybit exchange review, so it’s important to read up on what this involves before getting started with the platform.

Bybit offers several order types. The simplest option is to carry out a market order, which allows you to start trading as the touch of a button, with options to buy/long or sell/short. The Bybit price index will tell you the current rate. You can also set conditional limits and select the price at which you want an order carried out.

You’ll see these options clearly marked out under the “Trade” tab at the top of the user interface. All you then do is enter the required metrics, before hitting the “Buy/Long” or “Sell/Short” button, depending on how you think the crypto price will move.

Our Bybit review overall conclusion

Bybit is a new platform yet it has already built up a strong reputation as one of the most robust and intuitive trading exchanges on the market. As part of our Bybit exchange review, we researched customer feedback and found that many users lauded the platform’s usability and intuitive user interface, as well as its strong technology and security features. Whilst there is some discontent as to the number of cryptos traded on the platform and a few contract options are lacking, these are both things many expect Bybit to review in the near future.

Hopefully, this Bybit exchange review has furnished you with a good overview of the platform.

There are several features that make Bybit stand out from the crowd, perhaps most significant are the platform’s high stability and range of security protocols, and the attractive interface which offers a range of charting options.

Whilst ByBit is a derivatives exchange aimed at more experienced traders, the platform offers a professional customer service team along with plenty of information relating to leveraged trading and the various options available. Again, the platform offers limited asset coverage and is lacking a few options instruments, but these are things Bybit may review soon.

All in all, our Bybit exchange review found it to be a reliable exchange that’s easy to use and likely to get better as it further establishes itself in the market.

User Reviews for Bybit

No review posted yet.

Post your own Review

* required
Crypto Exchange
Rating follows
  • Advocates anonymity
  • Great withdrawal services
  • Very low associated fees
T&Cs apply, 18+
Rating follows
  • Top-notch security
  • Educational resources available
  • Up to 100x leverage on crypto
T&Cs apply, 18+
Latest User Reviews
No review posted yet. Be the first!
Receive the latest trading news by email + our free eBook
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the newsletter with the latest market news and broker reviews!.

By registering, I agree that may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

Your Bonus Code:
The bonus offer of Bybit was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site