Greetings, fellow crypto fans! Since you’re here, we assume you want a thorough review of Bybit, one of today’s best cryptocurrency exchanges.
Whether you are a beginner or an experienced trader, Bybit offers several features, such as spot trading, futures, and even 100x leverage.
Bybit is considered a great platform for cryptocurrency traders and investors because it offers low trading fees and commissions, strong security, and a good interface.
What Is Bybit?
Bybit is the second-largest exchange in the world. Founded in March 2018, it now has more than forty million users and institutions worldwide, to whom it offers a variety of assets and contracts.
A professional platform designed to meet the needs of crypto investors and traders is available at Bybit, which has customers all around the globe who speak different languages.
Bybit Is also the partner of Oracle Red Bull Racing Team which is the current constructors and the drivers champion of Formula One.
Key Highlights of Bybit
| Feature | Details |
|---|---|
| Launch Year | 2018 |
| Fees | – 0.10% maker/taker for spot trading- Futures: Varies by contract, generally low fees |
| Supported Cryptocurrencies | Over 100 (Bitcoin, Ethereum, and more) |
| Trading Options | Spot, Futures, Perpetual Contracts, and Leverage (up to 100x) |
| Security | Two-Factor Authentication (2FA), Cold storage for funds, Insurance fund |
| Customer Support | 24/7 live chat, email support, Help Center, Social Media (Twitter, Telegram) |
| Mobile App | Yes, available for iOS and Android |
| Supported Countries | Available globally (some restrictions in the US, China, etc.) |
| Website | Bybit Official Website |
Key Features of Bybit
Spot and Derivatives Trading
Bybit has spot trading available, where you can buy cryptocurrency instantly while also providing perpetual contracts for trading, which counts as futures trading.
Leverage Options
Regarding futures trading, the website allows a leverage of 100x which is great for bigger profits (more risk).
Advanced Trading Tools
Bybit provides fully customizable interfaces, order types, technical indicators, and charting tools.
Liquidity
The exchange has a lot of liquidity, so the difference between the market price of the order executed and the price on the exchange will be slight, most importantly in the future.
Security Features
Bybit offers cold wallets, internal risk management strategies and 2FA for advanced account security.
API Support
With the use of APIs, bybit integrates third-party programs and provides support for algorithmic trading.
Mobile App
One of the main things that users appreciated was the Bybit app, which allows both spot and derivatives trading.
24/7 Customer Support
One of the better customer support services available is a live chat option and a ticket system,, which are available 24/7.
Educational Resources
Bybit offers users many educational resources, including webinars, articles and tutorials, to increase their trading competence.
How to Get Started on Bybit?
If you are new to the crypto trading platform known as Binbit, here is a comprehensive guide on how to create an account:
Registration
Click on the registration tab available on the homepage of Bybit’s official website, which can be accessed at Bybit.
Another option is to create an account via email or phone number. This requires a password that must be remembered.
Identity Verification
You will need to undergo a verification process known as kyc. You must submit a valid form of identification to access other features. Such features include increased withdrawal limits.
Enabling Two-Factor Authentication
To protect your account from unauthorized access, it is essential that a two-factor authentication is enabled.
Account Funding
You may begin by funding your account by depositing cryptocurrencies orusing third-party service providers. Once your account has funds, you can withdraw them.
Understanding Bybit’s Interest Accrual Feature
Bybit offers various options,, including spot trading, futures, and perpetual contracts. To get the most out of these options, familiarize yourself with the interface layout.
In addition to that, attempt to use Bybit Earn, which will allow other means of earning passive income.
Executing The Trade
Pick a trade amount and an asset that you want to use as collateral. Then, begin placing your orders. However, ensure that the type of order, whether it’s a market, limit, or any other order, is selected first.
Observing the App Features
Market trade information, including charts and data, will be made available to you by Bybit, all while you monitor your positions and other trading fees.
Bybit Exchange Fees
| User Tier | Spot Trading Maker Fee | Spot Trading Taker Fee | Perpetual & Futures Maker Fee | Perpetual & Futures Taker Fee |
|---|---|---|---|---|
| Non-VIP | 0.1000% | 0.1000% | 0.0550% | 0.0200% |
| VIP 1 | 0.0675% | 0.0800% | 0.0400% | 0.0180% |
| VIP 2 | 0.0650% | 0.0775% | 0.0375% | 0.0160% |
| VIP 3 | 0.0625% | 0.0750% | 0.0350% | 0.0140% |
| VIP 4 | 0.0500% | 0.0600% | 0.0320% | 0.0120% |
| VIP 5 | 0.0400% | 0.0500% | 0.0320% | 0.0100% |
| Supreme VIP | 0.0300% | 0.0450% | 0.0300% | 0.0000% |
| PRO 1 | 0.0400% | 0.0600% | 0.0320% | 0.0100% |
| PRO 2 | 0.0300% | 0.0500% | 0.0320% | 0.0050% |
| PRO 3 | 0.0200% | 0.0400% | 0.0275% | 0.0000% |
| PRO 4 | 0.0150% | 0.0300% | 0.0240% | 0.0000% |
| PRO 5 | 0.0100% | 0.0200% | 0.0210% | 0.0000% |
| PRO 6 | 0.0050% | 0.0150% | 0.0180% | 0.0000% |
Pros and Cons of Bybit
Pros:
High Leverage: Up to 100x leverage for the experienced traders on the platform.
Advanced Trading Tools: There are many tools that can assist sophisticated trades.
Responsive Customer Support: Support is available 24 hours every day of the week. Quick answers and responses.
Security Measures: Cold storage of funds and other strong security measures.
Copy Trading: Users get an opportunity to copy the trades of investors who are successful in the market.
Cons:
Not Beginner Friendly: The platform is intimidating for new traders.
Limited Fiat-to-Crypto Options: There are limited fiat currency options in some regions.
Geographic Restrictions: There are some countries, such as usa and uk that are excluded from the service.
Crypto Derivatives Risks: A lot of risks comes with high-leverage trading.
Complex Interface: Using advanced features should imply learning a few new things.
Bybit Card
The Bybit Card is a Mastercard crypto debit card that permits its users to make purchases with their cryptocurrency or fiat balance while also earning bonuses.
The card owners get up to 10% back on their transactions, have a cash back of entirely up to 100% on the specified partners and earn an annual rate of 8% on auto savings.
The card provides a privilege of up to $100 every month in free withdrawals and has no yearly subscription fees. It provides a virtual version for internet payments and also a physical card to be used in retail stores
Is Bybit Safe?
Bybit is viewed as a trustworthy platform for cryptocurrency trading. It utilizes effective security systems, such as 2FA, cold storage for most of the user’s funds, and an insurance fund to cover volatility.
In addition, Bybit is licensed in particular countries, which makes it more trustworthy. However, as with all exchanges, the degree of security also relies on user behaviour, including the ability to create strong passwords for accounts and secure private keys.
Tips for Maximizing Your Bybit Experience
Try out the demo trading account: Know beforehand how Bybit operates by trying out their demo account trading.
Risk management tools to the rescue: Make use of stop-loss orders and set profit levels to lower the risk at hand and save your investment.
Use Two-Factor Authentication: Enable Two-Factor Authentication on your account to add an additional layer of safety to your account.
Keep yourself up to date: Use market updates, effective news, and the Bybit resources as part of an overall strategy to improve your trading capabilities.
Make small trades when starting off: When making your first trades on the platform, it’s a good idea to use small trades. This will help you get to know the platform’s features without risking much.
Bybit Earn is a reliable option: You can stake or yield a farm easily while making an income passively by using Bybit Earn.
Pay attention to the fees. There have been cases where the trading fee was applicable when using leverage, and on the many trades made. Be vigilant.
Remember to breathe: Cryptocurrency trades can get pretty volatile. Letlet go of trades thcauseing distress and stick to your plan.
Supported Countries and Regions
Bybit caters to users around the globe. However, users may face some geographical restrictions.
Bybit is accessible in almost all European countries, Asia, North America, and all other regions. But, it does not support users from the following regions:
- United States (because of legal barriers)
- Canada (only in some provinces)
- China (because of the legal system)
- Syria
- North Korea
- Iran
- Cuba
It is worth mentioning that before you start dealing with or creating an account on the platform, it’s pivotal to read the agreement and local laws concerning regulations in your country so that you don’t violate Bybit’s rules.
Invite Friends to Earn Over
1710 USDT and 30% Commission Earn rewards together with your friends via Spot, Derivatives, Copy Trading and Bybit Card.
How to Invite
Share Your Code and Link
You can invite your friends to use all Bybit products with just one referral code.
Connect with Your Friends
Your friends will be associated with you after they sign up.
Get Multiple Rewards
Automatically get Trading Commissions, Bybit Card Rewards and Copy Trading Rewards when your friends trade, apply for a Bybit Card or start copy trading.
Here is a comparison of Bybit and Coinbase across key features:
| Feature | Bybit | Coinbase |
|---|---|---|
| Type of Platform | Cryptocurrency derivatives and spot trading | Cryptocurrency exchange and wallet |
| Supported Cryptocurrencies | Wide range (including Bitcoin, Ethereum, etc.) | Over 100+ cryptocurrencies |
| Trading Pairs | Spot, Futures, Perpetual Contracts | Spot trading |
| Leverage | Up to 100x (for futures trading) | No leverage options |
| Trading Fees | 0.10% maker and 0.10% taker (spot) | 0.50% for transactions (varies with volume) |
| Security | Two-Factor Authentication (2FA), cold storage, insurance fund | Two-Factor Authentication (2FA), insured custodial service |
| KYC Requirements | KYC required for higher withdrawal limits | KYC required for all users |
| Mobile App | Yes | Yes |
| Staking | Yes (through Bybit Earn) | Yes (through Coinbase Earn) |
| Supported Countries | Limited in some regions (e.g., US, China) | Available in over 100 countries |
| Fiat-to-Crypto | Limited, depends on region | Supports fiat-to-crypto purchases |
| Deposit Methods | Crypto deposits, some fiat options | Bank transfers, PayPal, and crypto deposits |
| User Interface | Advanced, geared towards traders | User-friendly, suitable for beginners |
| Withdrawal Methods | Crypto withdrawals only | Crypto and fiat withdrawals (depends on region) |
| Customer Support | 24/7 support via chat and email | 24/7 support via chat and phone |
Bybit Customer Service
Live Chat: If you want to reach out for assistance, either through the website or the mobile app, they have the Live Chat option at your disposal. This is the fastest method to communicate your problem or query.
Help Center: The problem-solving guide is quite enormous, and for many areas, assistance is provided through the already provided guides, FAQs, and tutorials concerning trading accounts, security, etc.
Email Support: For more complex and specific questions, you can email support team throughdress is often outlined in the help centre or your account.
Social Media: Users can follow Bybit on Twitter, Telegram, and Discord, as they are very active on these platforms.
Community Forums: Bybit has its official forum for discussions where users can tackle problems and help others.
Final Thoughts on Bybit
Bybit is a powerful cryptocurrency exchange platform with active spot, futures and up to 100x leverage trading. It also has robust protection measures in place, like two-factor authentication and cold storage, which keep users’ funds safe.
Thus, all traders looking for more control and flexibility can do so easily, thanks to its customer support and simple interface.
Still, where Bybit might excel for some traders is its level of support for experienced traders, while for beginners, there are more than a few challenges.
While there are geographical restrictions, bybit is perfect for everyone who wishes to use great trading tools and ever-expanding crypto assets.
