Bybit Exchange Review 2025: Features, Fees & Security

In-Depth Details: What’s To Like And What You Should Know

Bybit is a full-service cryptocurrency trading platform specializing in derivatives. They also offer robust spot trading capabilities and provide access to perpetual contracts, futures, options, and spot markets across hundreds of digital assets. They cater to traders of all experience levels through their intuitive interface and advanced analytical tools, backed by deep liquidity across major trading pairs.

The platform’s competitive edge is its sophisticated trading infrastructure, offering leverage up to 100x on select pairs, copy trading services that let you replicate successful traders’ strategies, and automated trading bots for executing complex strategies. Recent upgrades to the Convert feature simplify token swaps with competitive rates. The integrated Web3 wallet provides easy access to DeFi protocols.

History and Background

The Bybit crypto exchange was founded in March 2018 by Ben Zhou, a former forex trader, and has quickly grown into one of the top crypto derivatives exchanges. Originally based in Singapore, the company expanded its global footprint and moved its headquarters to Dubai in 2022. They were drawn to the region’s supportive regulatory environment.

Over the years, growth has been fueled by strategic partnerships and ongoing platform upgrades. It consistently ranks among the top five cryptocurrency derivatives platforms by trading volume. It broadened its focus beyond derivatives, launching spot trading, staking, and Web3 features to stand alongside full-service exchanges.

Today, the platform operates across several jurisdictions and holds licenses in Dubai, the British Virgin Islands, and other regions. Its leadership continues to push for innovation, rolling out new products and crypto tools designed to keep pace with the fast-moving crypto market. This all contributes to their goal of becoming one of the best crypto exchanges available.

Safety and Security

In February 2025, the exchange was hit by a major hack that stole about $1.5 billion in Ethereum. The incident was one of the largest breaches in crypto history.

The company responded quickly, securing emergency funding from partners like Galaxy Digital and Wintermute within 72 hours to fully restore reserves. From there, they immediately committed to refunding affected customers, relying on their 1:1 reserve backing to protect customer balances.

The swift and transparent response highlighted their financial strength and dedication to user trust. The exchange strengthened its security systems and continued operations without disruption following the security breach. This helped restore confidence across its community.

Here are some of the things that caught my eye:

• Cold Storage: Majority of user funds stored offline in geographically distributed locations
• Multi-Signature Wallets: Multiple approval requirements for fund movements
• Two-Factor Authentication: Mandatory 2FA using authenticator apps for all accounts
• Withdrawal Whitelisting: Restriction of withdrawals to pre-approved addresses
• Real-time Monitoring: 24/7 threat detection and response systems
• Proof of Reserves: Regular third-party audits verifying 1:1 asset backing
• 1:1 Reserve Backing: Full collateralization of user deposits with verified reserves
• Emergency Liquidity Protocols: Established relationships with major liquidity providers for rapid response
• KYC/AML Compliance: Comprehensive identity verification and anti-money laundering procedures

My Overview:

The trading experience on the platform is smooth, and features like copy trading and bots work really well.

Special features

Users can enjoy a wide range of trading and investment tools for all experience levels. It shines in derivatives, with options like perpetual contracts up to 100x leverage, futures, and options trading on major cryptocurrencies. Beginners can take advantage of copy trading to follow and replicate strategies from top traders while advanced users can access automated trading bots for more complex strategies.

Their upgraded Convert feature makes swapping between cryptocurrencies quick and simple, enabling fast portfolio adjustments with competitive rates. There’s no need to worry about navigating order books. For everyday spending, the Bybit Card lets you pay with crypto by converting assets to fiat instantly at checkout.

Bybit Earn gives you options for passive income through staking, liquidity mining, and yield farming. Thanks to the integrated Web3 wallet, it’s easy to connect with DeFi apps and protocols. The platform also includes access to an NFT marketplace, a launchpad for new tokens, and full API support.

Usability

I find the interface intuitive, even with all its advanced features. The dashboard gives me a clean, organized view of markets and my positions without feeling cluttered. Using the platform feels smooth and efficient.

The customizable layout means I can arrange charts and panels to fit my preferences. Switching between spot, derivatives, and earning products is easy, and the categories make it simple to find what I need.

Customer support

You can get support via live chat, email ticketing, and a comprehensive help center. Support is available around the clock. Multilingual assistance helps serve people worldwide. For quick answers, I’ve found that live chat usually gets a faster response than email, though times can depend on how complex the issue is.

Their help center is packed with documentation, video guides, and step-by-step tutorials, so it’s simple to search for solutions or get direct help from support agents when needed. After the February 2025 hack incident, the company stepped up its support resources to better handle questions about security and compensation.

VIP and institutional clients get extra attention through dedicated account managers and priority access to support. The provider is also active on X, Telegram, and Discord, so you have more ways to connect, get updates, and reach out for community help.

Mobile app

The mobile app, available on both iOS and Android, gives you the full trading experience right on your phone, with over 20 million downloads so far. It lets you access spot trading, derivatives, copy trading, staking, and the Convert feature, all optimized for smaller screens.

Recent updates have made the app easier to navigate and faster to use. It includes real-time price alerts, advanced charts powered by TradingView, portfolio management tools, and biometric login for added security. Push notifications keep me updated on my positions, price changes, and account activity without being overwhelming.

The mobile app offers the same functionality as the desktop platform, so you can manage all your trading from anywhere. I also appreciate being able to view my portfolio offline and use the integrated Web3 wallet to connect to DeFi apps on the go.

Other useful features you should know about

• Lucky Draw Events: Promotional campaigns offering rewards for using specific features like the Convert tool
• Unified Trading Account: Single account for spot and derivatives with shared margin
• Grid Trading Bots: Automated strategies for ranging markets
• Portfolio Analytics: Detailed performance tracking with profit/loss breakdowns
• Price Alerts: Customizable notifications for price movements across multiple assets
• Funding Rate Arbitrage: Tools to capitalize on perpetual contract funding rates
• Market Maker Program: Incentives for users providing liquidity
• API Trading: RESTful and WebSocket APIs for algorithmic trading
• Insurance Fund: Additional protection layer for derivative positions
• Educational Resources: Comprehensive learning materials and market analysis

Bybit VIP

The exchange’s tiered VIP program rewards active traders and larger asset holders with benefits beyond those available to standard users. Everyone gets the same core platform and security, but VIP members receive advantages like lower trading fees, higher deposit and withdrawal limits, special rewards, and priority support, with dedicated VIP Ambassadors starting at level 2. The program has multiple tiers, with each level unlocking extra perks.

CryptoVantage Tip: Thresholds and fee rates can vary by trading product and market. Always confirm with official resources for application to your specific account tier.

Does Bybit charge a monthly fee?

There are no monthly account maintenance fees. You only pay transaction-based fees when actively trading, withdrawing funds, or using specific platform services.

How To Set Up a Bybit Exchange Account

If you want to try out the exchange for yourself, here’s what you need to do:

1. Visit the official website or download the mobile application from official app stores
2. Click “Sign Up” and provide your email address or phone number
3. Create a secure password and complete email/phone verification
4. Verify your email address or phone number through the confirmation code
5. Complete basic profile information for initial account access
6. For higher withdrawal limits and full feature access, complete KYC verification by uploading government-issued ID
7. Provide a selfie for liveness verification and proof of address if required for your jurisdiction
8. Set up mandatory two-factor authentication using Google Authenticator or Authy
9. Add payment methods or deposit cryptocurrency to begin trading

The basic verification process usually completes within minutes, enabling immediate trading access with lower limits. Full KYC verification may take several hours to one business day, depending on document quality and the verification queue.

Bybit Alternatives

Bybit is an excellent choice for crypto traders looking for a wide range of features, strong liquidity, and a large selection of digital assets. That said, the exchange may not fit every trader’s specific needs or preferences. To find out how it compares to other providers and which platform best matches your trading style, check out our comparison articles:

• Binance vs Bybit
• Bybit vs Coinbase

Final Thoughts: Is Binance Worth It?

The platform’s resilience has set a strong standard for user protection in the crypto industry and makes it one of the safest crypto exchanges. The exchange delivers advanced features, competitive fees, and a versatile trading experience for beginners and professionals. Ongoing upgrades to usability, security, and trading options show their commitment to their community. For people who want a reliable platform with proven crisis management and a broad feature set, Bybit is a great choice in today’s cryptocurrency market.​