Bybit Exchange Review: Is It Safe & Legit to Buy Crypto in 2025?

Bybit: A Comprehensive Overview of a Leading Cryptocurrency Exchange

Bybit has established itself as a highly regarded cryptocurrency derivatives exchange, renowned for its advanced technology and user-centric trading experience. The platform boasts a robust order-matching engine capable of processing an impressive 100,000 transactions per second per contract, ensuring seamless trading even during high market volatility. With over 60 million users globally and access to more than 1,650 digital assets, Bybit is considered one of the most secure and liquid cryptocurrency trading platforms in the world.

This detailed Bybit review delves into the platform’s core features, trading fees, and account setup process. We also aim to answer a crucial question: Is Bybit a safe and legitimate choice for trading cryptocurrencies in 2025?

What Is Bybit?

Bybit is a global cryptocurrency exchange that began operations in 2018 and is headquartered in Dubai, UAE. It holds a license as a Virtual Asset Service Provider (VASP) in Dubai and is also regulated by authorities such as the Cyprus Securities and Exchange Commission (CySEC) and the Astana Financial Services Authority (Kazakhstan). These regulatory approvals highlight Bybit’s commitment to compliance and user protection.

The platform provides traders with a diverse selection of over 1,650 cryptocurrencies for spot trading. Additionally, Bybit is widely recognized for offering cutting-edge trading tools, including perpetual futures contracts, margin trading, options trading, and advanced automated solutions like copy trading and trading bots.

Features That Set Bybit Apart

1. Extensive Cryptocurrency Options
   Bybit supports an expansive catalog of digital assets, ensuring that users have access to popular coins as well as emerging tokens.

2. Advanced Trading Tools
   Traders can leverage features such as 100x perpetual futures contracts, options trading, and margin trading. For beginners, the platform offers a simplified experience with educational resources to enhance their knowledge.

3. High Security Standards
   Bybit takes security seriously and has implemented robust measures, including cold wallet storage, withdrawal address whitelisting, and anti-phishing codes. Notably, the platform has never experienced a significant security breach, instilling confidence among its users.

4. Passive Income Opportunities
   Users can earn additional income through staking, liquidity mining, and dual investment products.

5. User-Friendly Interface
   Bybit’s clean and intuitive user interface ensures that both beginners and experienced traders can navigate the platform effortlessly.

Key Bybit Details

Is Bybit Safe to Use in 2025?

Bybit has a strong reputation for its security measures and transparency. The platform employs a cold wallet system to safeguard assets and ensures transparency with Proof of Reserves (PoR) data. Additionally, advanced features like two-factor authentication (2FA) and anti-phishing codes enhance account security.

For traders seeking a reliable and efficient platform in 2025, Bybit stands out as a safe and legitimate choice for cryptocurrency trading.

Whether you are a beginner exploring the world of crypto or an experienced trader looking for advanced tools, Bybit provides a feature-rich, secure, and user-friendly experience. From a wide selection of cryptocurrencies to passive income opportunities, Bybit continues to position itself as a leading choice in the cryptocurrency trading ecosystem.

Where Is Bybit Located?
Bybit operates out of Dubai, United Arab Emirates, under the authority of a license granted by the Virtual Assets Regulatory Authority (VARA). In addition to this, Bybit holds regulatory approval from the Cyprus Securities and Exchange Commission (CySEC) and the Astana Financial Services Authority in Kazakhstan. Recently, Bybit expanded its global presence by establishing its first European office in the Netherlands.

What Are the Pros of Bybit?
Bybit offers several advantages, including advanced trading features, a beginner-friendly interface, competitive fees, top-notch security, and support for a vast array of cryptocurrencies.

• Advanced Trading Tools:
  Bybit provides access to innovative trading options such as futures contracts, margin trading, copy trading, and options contracts. Traders can use leverage to amplify their buying power, with some contracts allowing up to 100x leverage. The platform supports various order types, including market orders, limit orders, iceberg orders, and scaled orders.

• User-Friendly Interface:
  Whether accessing Bybit on a computer or mobile device, the platform’s design is intuitive and accessible to users of all experience levels. Features like seamless navigation, TradingView chart integration, and quick deposit/withdrawal processes make it an ideal choice for beginners.

• Low Trading Fees:
  Bybit’s fee structure is highly competitive, helping users save money on transactions. Futures trading fees start as low as 0.055% (taker) and 0.02% (maker), while spot trading fees are just 0.1%.

• Strong Security Measures:
  Bybit prioritizes security by storing the majority of user funds in cold wallets and offering two-factor authentication. The absence of major hacks in its history builds trust among its users.

• Diverse Cryptocurrency Options:
  With over 1,650 cryptocurrencies available, Bybit supports a wide variety of markets, including AI, NFTs, metaverse projects, real-world assets (RWAs), smart contracts, and more.

What Are the Cons of Bybit?
Despite its numerous strengths, Bybit has a few limitations, including restricted fiat currency support and availability in certain regions.

• Limited Fiat Support:
  Bybit primarily functions as a crypto-to-crypto exchange, meaning there are limited options for depositing and withdrawing fiat currency. In some regions, users may find it inconvenient as direct fiat-to-bank withdrawal options are unavailable.

• Not Available in Some Countries:
  Regulatory restrictions prevent Bybit from operating in countries like the United States, Canada, and the United Kingdom, which limits its accessibility for users in these regions.

How Many Cryptocurrencies Are Available on Bybit?
Bybit offers an extensive selection of more than 1,650 cryptocurrencies, encompassing popular sectors such as AI, NFTs, layer-1 and layer-2 solutions, metaverse projects, GameFi, and meme-coins.

Some well-known cryptocurrencies available on Bybit include:

• Bitcoin
• Ethereum
• Solana
• Cardano
• Polkadot
• Chainlink
• Avalanche
• Dogecoin
• Shiba Inu

What Are the Best Features of Bybit?
Bybit is packed with features that cater to traders’ needs. Key highlights include derivatives trading, trading bots, copy trading, savings programs, crypto card services, and the Bybit Launchpool for early access to projects.

• Derivatives Trading:
  Bybit allows users to trade derivatives, enabling investments in cryptocurrency price movements without owning the assets themselves. Different types of contracts include:

  • USDT Perpetuals: Settled in USDT (a stablecoin).
  • USDC Perpetuals: Similar to USDT but settled in USDC.
  • Inverse Perpetuals: Settled in the cryptocurrency itself (e.g., Bitcoin).

  Traders can utilize up to 100x leverage, controlling large positions with relatively small capital.

• Order Types in Derivatives Trading:

  • Market Order: Buy or sell instantly at the current market price.
  • Limit Order: Set a specific price for buying or selling.
  • TWAP (Time-Weighted Average Price): Break large orders into smaller ones to minimize price slippage.
  • Iceberg Order: Hide the total trade size by displaying only a portion of the order at a time.
  • Scaled Order: Divide a large order into smaller ones at varying price levels to adapt to market conditions.

Bybit Margin Trading
Bybit provides margin trading, which allows traders to borrow funds to amplify their trading volume. Traders can leverage up to 10x on Bybit when participating in margin trading.

The platform offers two types of margin systems: isolated margin and cross margin.

• Isolated Margin: Here, you only risk the specific amount allocated to a particular trade.
• Cross Margin: This method utilizes your entire account balance to avoid liquidation. While this can save a position from being liquidated, it comes with the risk of exposing your entire balance.

Bybit Options Trading
Bybit also provides an options trading market. Options trading allows users to purchase the right to buy or sell an asset at a set price before a certain date without the obligation to execute the trade. Currently, Bybit supports three options contracts: BTC, ETH, and SOL.

For options trading, Bybit employs a margin system with two modes:

• Cross Margin: This mode applies to individual positions.
• Portfolio Margin: It assesses risks across your entire portfolio.

Bybit Trading Bots
Bybit offers automated trading bots that simplify cryptocurrency trading by executing trades based on predefined rules. These bots come in four types: Futures Grid, Futures Martingale, Spot Grid, and DCA (Dollar-Cost Averaging).

• Futures Grid Bot: Designed for trading perpetual contracts, this bot places buy orders below and sell orders above a reference price. It thrives in volatile markets, profiting from price fluctuations.
• Futures Martingale Bot: This bot increases the trade size after a loss to recover previous losses when the market turns favorable. Though it can be effective, it involves high risk and requires careful management.
• Spot Grid Bot: Focused on spot markets, this bot buys low and sells high, performing well in range-bound markets.
• DCA Bot: Ideal for long-term investments, this bot invests fixed amounts in a cryptocurrency at regular intervals, reducing the impact of market volatility.

Bybit Copy Trading
Bybit’s copy trading feature enables users to replicate the trades of professional Master Traders. This eliminates the need to analyze markets or develop strategies, as the Master Trader handles this aspect.

Users can evaluate Master Traders based on ROI, win rate, and risk levels, with detailed stats available for easy decision-making. Profit-sharing percentages depend on the Master Trader’s rank: Cadet and Bronze earn 10%, Silver earns 12%, and Gold earns 15%. Once you select a Master Trader, their trades are automatically mirrored in your account. Additionally, users can adjust trade parameters to match their risk preferences.

Bybit Savings & Earn Program
The Bybit Savings & Earn Program allows users to grow their cryptocurrency holdings passively with various products:

• Flexible Savings: Earn interest on idle crypto assets while maintaining withdrawal flexibility. APYs typically range from 10–20%.
• Fixed Staking: Lock funds for specific periods (e.g., 30 or 90 days) to earn higher returns. The longer the lock-in, the greater the rewards.
• Dual Investment: Earn higher yields by predicting price movements for two assets (e.g., BTC and USDT). This is suitable for advanced users willing to take on additional risk.
• Liquidity Mining: Provide liquidity to trading pairs on Bybit and earn rewards in fees and incentives.
• Crypto Loans: Borrow funds against crypto holdings with competitive interest rates and flexible or fixed terms.

Bybit Crypto Card
The Bybit Crypto Card makes spending cryptocurrency in the real world seamless. It supports online and offline payments, converting crypto to fiat instantly at the point of purchase.

The card supports popular cryptocurrencies like BTC, ETH, XRP, TON, USDT, USDC, MNT, and BNB.

Key benefits include:

• Rewards for daily spending, including up to 10% cashback.
• Rebates on subscriptions like Spotify, ChatGPT, Netflix, and Prime Video.
• Up to 8% APY on idle assets linked to the card for passive income.

The card is widely accepted globally and allows users to freeze or unfreeze it through the Bybit app, making it an excellent travel companion.

Bybit Launchpool and Pre-Market Trading
Bybit’s Launchpool enables users to earn new tokens by staking existing cryptocurrencies. By staking tokens, users earn rewards in the form of new project tokens supported by Bybit.

This feature allows users to hold their assets while earning more without the need for long-term lock-ins. Tokens can be redeemed anytime, providing flexibility while offering access to early-stage projects.

Pre-Market Trading on Bybit
Bybit introduces pre-market trading, a feature that allows you to trade tokens even before they are officially listed. When a new token is about to make its debut, you can place buy or sell orders ahead of its launch on the spot market, giving you a strategic edge.

OTC Trading for Customized Deals
Bybit supports over-the-counter (OTC) trading, where you can set your own price and wait for others to match your orders. This unique feature allows you to acquire tokens at prices that suit your preferences. Once both sides align on price and terms, the trade is settled seamlessly.

Understanding Bybit Trading Fees
Bybit employs a maker and taker fee structure with competitive rates across its trading options. Here’s an overview:

• Spot Trading Fees: A flat fee of 0.1% applies for both makers and takers. VIP members enjoy reduced fees, starting at 0.08% for takers and 0.0675% for makers (VIP Level 1).
• Futures Trading Fees: Makers are charged 0.02%, while takers pay 0.055%. For VIP Level 1 members, the rates drop to 0.018% for makers and 0.04% for takers.
• Options Trading Fees: Makers pay 0.02%, and takers are charged 0.03%. VIP members receive discounts, with fees reduced to 0.015% for makers and 0.02% for takers.

Deposit and Withdrawal Information
Bybit ensures that deposits are free of charge. However, blockchain networks may impose fees depending on the transaction type.

• Bitcoin (BTC): 0.000137 BTC withdrawal fee.
• Ethereum (ETH): 0.0015 ETH per withdrawal.
• Tether (USDT): ERC-20 withdrawals cost 10 USDT, while TRC-20 fees are as low as 1 USDT.

For withdrawals, fees are determined by the blockchain network, ensuring transparency.

No Liquidation Fees for Futures
While Bybit charges a 2% liquidation fee for spot margin trading and crypto loans, there are no liquidation fees for perpetual and futures contracts. Options trading contracts, however, incur a 0.2% fee.

Getting Started with Bybit
Opening an account on Bybit is straightforward:

1. Sign Up: Visit Bybit’s official website, register using your email or phone, and create a strong password. Use the referral code “CNJREVIEW” during sign-up to access a bonus of up to $30,000 USDT.
2. Complete KYC: Navigate to the “Account” section under your profile and submit identification documents for verification. KYC unlocks higher withdrawal limits and additional features.
3. Deposit Funds: Deposit funds using fiat currency, P2P trading, or cryptocurrency transfers. Choose your preferred method under the “Buy Crypto” or “Assets” section.
4. Start Trading: Explore the “Market” tab to access various trading pairs and place orders based on your strategy.

Deposit and Withdrawal Methods
Bybit supports multiple deposit options, including bank transfers, credit cards, third-party providers like Simplex and Banxa, and its P2P marketplace with over 80 local payment methods. Withdrawals are facilitated through bank transfers or cryptocurrency transfers to external wallets.

Bybit’s Global Reach
Bybit operates in over 195 countries, including Australia, Germany, the UAE, and the Netherlands. However, it remains restricted in regions like the United States, China, and Canada due to regulatory constraints.

Is Bybit Beginner-Friendly?
Bybit’s user-friendly interface, demo accounts, and educational resources make it ideal for beginners. With features like copy trading and low deposit requirements ($10), new traders can easily get started while learning from experienced professionals.

Bybit’s Security Features
Safety is a priority at Bybit. The platform offers:

• Two-Factor Authentication (2FA)
• Anti-phishing codes
• Withdrawal address whitelisting
• Cold and multi-signature wallet storage
• Proof of Reserves (PoR)
• SSL encryption
• Bug bounty programs

These measures ensure user funds and data are secure at all times.

Legitimacy and Licensing
Bybit operates under licenses from reputable regulatory bodies, including the Virtual Assets Regulatory Authority (VARA) in Dubai and CySEC in Cyprus, proving its legitimacy and commitment to compliance.

Best Alternatives to Bybit
For those seeking alternatives, platforms like Binance, Coinbase, Bitget, and MEXC offer competitive features, robust security, and diverse trading options.

Bybit remains a top choice for crypto trading, offering innovative tools, low fees, and exceptional security. Whether you’re a novice or a pro, Bybit’s versatile platform caters to all your trading needs.