Available Countries
  • Worldwide (Show More)
  • Deposit Methods
  • Cryptocurrency (Show More)
  • Supported Currencies
    Exchange Type
  • Centralized Exchange (CEX)
  • Supports
  • Crypto to Crypto
Margin Trading
  • Yes
  • Built In Wallet
  • Yes
  • Compensation Scheme
  • No
  • Regulated
  • No
  • Minimum Deposit
  • None
  • Deposit Fees
  • Free (Show More)
  • Withdrawal Fees
  • Free, Mining fee is applicable (Show More)
  • Trading Fees
  • Varies, 0.075% taker fee, 0.025% rebate for makers (Show More)
  • Limits
  • Varies, Up to 100x Leverage, 0.002 BTC Min. Withdrawal (Show More)
  • Verification
  • Anonymous (Show More)
  • Jump to page contents

    Bybit Exchange Review

    Bybit is a cryptocurrency derivatives trading platform that allows users to trade derivatives of all the top cryptocurrencies like Bitcoin, Ethereum and Ripple. The exchange was launched in 2018 and registered in the British Virgin Islands. Bybit is headquartered in Singapore and has offices in Hong Kong and Taiwan.

    Bybit Exchange Review
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Even though Bybit is not regulated or authorized by any legal organisation, it still follows extensive security measures to protect its clients’ funds. In order to provide maximum security, Bybit stores the majority of its clients’ assets on multi-signature cold wallets. Furthermore, it offers 2FA protection to prevent unauthorized access of its customers’ accounts.

    The trading interface of Bybit is simple, user-friendly and displays elaborate graphs and real-time pricing charts. It supports multiple languages including Japanese, Traditional Chinese, Russian and Korean. It accepts users from all over the world including Europe, North America, Russia, Japan and more.

    The following review analyses several aspects of Bybit, whilst providing you with an all-rounded detailed overview of the trading platform and its services. Although Cryptimi does its best to provide you with accurate information, whilst aiming to update it on a regular basis, we strongly recommend that you visit their site for any important updates which might occur after this review is published.

    Is Bybit Exchange Safe?

    It is too early to come to a conclusion about its security? Bybit follows standard security protocols by storing the majority of its clients’ funds on multi-signature Hierarchical Deterministic cold wallets to provide maximum protection. It keeps only a small amount on hot wallets to allow for immediate withdrawal. Before processing a withdrawal request, Bybit team thoroughly reviews all deposit, transaction and other records to safeguard the security of the assets.

    Bybit Exchange

    Bybit allows users to quickly trade the perpetual contracts of the leading cryptocurrencies. Since the platform uses state-of-the-art matching engine, it can process 100,000 transactions per second. What’s more, there is no server downtime at all.

    Bybit Wallet

    As mentioned previously, Bybit stores all its clients’ assets on multi-signature cold wallets. After creating an account, you will be provided with a wallet address for every asset you keep on the platform.

    Bybit Account

    Bybit offers two types of accounts: Real and Testnet. The latter is mostly used by application developers or testers for testing purposes.

    The signup process on Bybit is pretty simple and won’t take more than a minute as it requires only your email address or mobile number. Furthermore, it doesn’t ask users to provide any kind of document to trade cryptocurrencies on its platform. Currently, it offers a $10 Welcome Trading Bonus to all its new users.

    The exchange has listed the fee schedule clearly on its website and there is no hidden fee at all. In case users would have forgotten their password, Bybit provides an option to reset the same.

    How to Sign Up on Bybit

    Follow the below steps to create your account on Bybit:

    Create an account on Bybit

    1. Navigate to their website and click ‘Register’.
    2. Click the tab entitled ‘Email Registration’. (If you would like to create an account using your mobile number, then click the ‘Mobile Registration’ tab, enter your mobile number and proceed to Step 4. Since mobile registration is available only for selected countries, please check if your country is listed).
    3. Enter your email address and password.
    4. Click Register.
    5. Now, you will receive a confirmation email from Bybit. If you don’t find said email in your Inbox, check your Spam folder to ensure it’s been received. Then, enter the 6-digit authentication code to complete the signup procedure.

    Congratulations! You have successfully created a trading account on Bybit.

    How to Log in on Bybit

    To log in to your account, follow the below steps:

    Bybit Derivative Exchange Login

    1. Navigate to their site and click ‘Login’.
    2. Click ‘Email Login tab’, enter your email, password and click ‘Login’.
    3. In case you had created the account using your mobile number, then click ‘Mobile Login tab’. Then enter your mobile number, password and click ‘Login’.

    Now, you will be logged on to your Bybit account and can start trading right away.

    Verification Requirements

    Bybit exchange doesn’t expect users to verify their identity by uploading any kind of documents. Therefore, users can start trading as soon as they create and verify their account.

    How to Trade Perpetual Contracts on Bybit

    First, you need to deposit some funds to trade perpetual contracts on Bybit.

    How to Deposit Coins on Bybit

    At present, Bybit accepts only deposits of BTC, ETH, XRP and EOS. The exchange has not set any minimum or maximum limits for depositing cryptocurrencies. Follow the below steps to deposit cons on Bybit.

    Bybit Deposit Coins

    1. Log in to your account and click ‘Assets’ located on the top of the page.
    2. Select the coin you would like to deposit and click the corresponding ‘Deposit’ button on that row.
    3. Copy the wallet address or scan the QR code.

    Once the sender has completed the transaction, coins will be credited to your wallet.

    How to Buy or Sell Bitcoin (BTCUSD) on Bybit

    Follow the below steps to buy Bitcoin Perpetual Contracts (BTCUSD) on Bybit. Since Bybit is purely a cryptocurrency derivatives exchange, it is highly recommended to read through and understand the below terminologies before you start trading:

    Perpetual Contract: resembles a traditional futures contract with the only difference in that it does not have an expiry date. This allows traders to hold a position for as long as they want.

    Maker: someone who places a limit or conditional order that goes to the order book and adds up to the market depth, regardless of whether the trader chooses to go long or short. These traders help to make the market and thus are named makers.

    Taker: someone who places orders that are immediately fulfilled before they go to the order book and decrease the market depth by taking orders from the order book. Usually, these are market orders, however, those who place limit orders can also be takers.

    Market Order: the order will be executed at the market rate immediately after placing the same.

    Limit Order: this type of order allows you to set a maximum or minimum price at which you buy or sell. Hence, the order will be executed only if the criteria is met.

    Bybit Trade Perpetual
    Screenshots are shown for illustration purposes only. Actual product may vary.
    1. Log in to your account and click ‘Trade’ on the top left-hand of the page.
    2. Select BTC on the drop-down box.
    3. On the right-hand side of the page, you will notice three tabs entitled Limit, Market and Conditional. Click your desired tab to select the order type. In this example, we have selected Market order.
    4. Next, you need to set leverage, order price, quantity and other fields based on the order type.
    5. Finally, click Buy/Long or Sell/Short depending on the direction of the trade.

    Congratulations! You have successfully placed your order for BTC Perpetual contract on Bybit.

    How to Buy or Sell Ethereum (ETHUSD) on Bybit

    To buy or sell Ethereum Perpetual contract (ETHUSD), repeat all the steps (except Step 2) mentioned in the How to Buy or Sell Bitcoin Perpetual section. In Step 2, select ETH from the drop-down box.

    How to Buy or Sell EOS (EOSUSD) on Bybit

    To buy or sell Ethereum Perpetual contract (EOSUSD), repeat all the Steps (except Step 2) mentioned in the How to Buy or Sell Bitcoin Perpetual section. In Step 2, select EOS from the drop-down box.

    How to Buy or Sell Ripple (XRPUSD) on Bybit

    To buy or sell Ethereum Perpetual contract (XRPUSD), repeat all the Steps (except Step 2) mentioned in the How to Buy or Sell Bitcoin Perpetual section. In Step 2, select XRP from the drop-down box.

    How to Cash Out on Bybit

    Bybit supports only cryptocurrency based withdrawals and there is no option to withdraw funds via fiat payment options. Before withdrawing, you need to enable the two-factor authentication via SMS or Google Authenticator. Follow the below steps to withdraw your funds from Bybit.

    Bybit Withdraw Funds

    1. Log in to your account and click ‘Assets’ located on the top left of the page.
    2. Select the cryptocurrency you would like to withdraw and click the corresponding ‘Withdraw’ button on that row.
    3. If you had already created a wallet address, then select that from the drop-down box. Otherwise, click ‘Add’ to add a recipient wallet address.
    4. Enter the amount you would like to withdraw and click ‘Submit’.
    5. Here, you need to enter the verification code sent to your email, SMS or Google Authenticator.
    6. Once your 2FA code is validated, you will see a confirmation message titled ‘Withdrawal Request Submitted’.
    7. Then, you will receive a confirmation email about your withdrawal request. To verify or authenticate your request, you need to click the link on that email.

    Once your request is approved, you will receive the cryptocurrency on your wallet within a few hours. Bybit process all withdrawal requests 3 times a day at UTC Time 08:00, 16:00 and 24:00 hrs. And, the cut-off time for withdrawal request will be 30 minutes before the scheduled withdrawal processing time.

    Supported Cryptocurrencies

    At the time of writing, Bybit exchange supports only 4 cryptocurrency perpetual contracts:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • EOS (EOS)

    Supported Countries

    Bybit accepts members from almost all countries worldwide.


    Except for the countries listed in the below section, Bybit offers its services to almost all countries in the EEA (European Economic Area) including Austria, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom. Outside EU, it accepts members from all over the world including North America, Russia, Japan, South Korea and Southeast Asia.


    Currently, Bybit provides only restricted service for the residents of the following countries:

    US, Québec (Canada), Singapore, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan

    Exchange Fees & Limits

    Every cryptocurrency exchange has its own fee structure and limits and Bybit is no exception.


    Bybit exchange deducts a trading fee for every successful trade.

    Bybit Exchange Fees
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Trading Fees

    Bybit follows a maker/taker model and charges a trading fee for every single trade depending on the direction of the trade. It charges a flat fee of 0.075% for market makers and offers a rebate of 0.025% rebate to market takers.


    The exchange doesn’t charge any fee to deposit or withdraw cryptocurrencies. However, a miner fee is always applicable.  For deposits, the miner fee is adjustable based on your needs. For withdrawals, the miner fee is fixed irrespective of the amount of withdrawal.

    The cryptocurrencies and their corresponding mining fees are given below:

    • BTC – 0.0005BTC
    • ETH – 0.01ETH
    • XRP – 0.25XRP
    • EOS – 0.1EOS


    Bybit hasn’t set any limits to deposit cryptocurrencies. However, it has set a minimum limit for withdrawals:

    • BTC – 0.002BTC
    • ETH – 0.02ETH
    • XRP – 20 XRP
    • EOS – 0.2EOS

    The exchange provides up to 100x leverage for crypto perpetual contracts.

    Supported Payment Methods

    At the time of writing, Bybit exchange doesn’t support fiat payment options. It accepts only the cryptocurrencies listed below:

    • Bitcoin (BTC)
    • Ethereum (ETC)
    • EOS (EOS)
    • Ripple (XRP)

    Bybit Security

    Like most cryptocurrency exchanges, Bybit also provides two-factor authentication to protect its clients’ accounts from unauthorized access. Users can opt for either Google Authenticator or SMS to receive the authentication code.

    Bybit Customer Support

    Bybit exchange offers 24/7 Live Chat support to quickly resolve its customers’ issues. For general queries, you can refer the knowledge base articles listed under the FAQs section of its official website. To get answers for specific queries related to your account, you can send an email to [email protected] Alternatively, users can also create and submit a request which is available on the Help section of its website.

    Bybit App

    This feature is not available yet.

    Bybit Coming Soon Features

    Bybit is planning to add more cryptocurrencies (like Litecoin) and is developing a mobile app to help users to trade on the go.

    Top Competitors

    Bybit vs. BitMEX

    Both Bybit and BitMEX are unregulated cryptocurrency derivative trading platforms. When compared with Bybit, BitMEX supports a number of cryptocurrencies. Both platforms store its clients’ assets in multi-signature cold storage wallets. While Bybit allows users to deposit any of the four cryptocurrencies (BTC, ETH, XRP, EOS) to fund their account, BitMEX accepts only Bitcoins. Like Bybit, BitMEX also follows the maker/taker model and charges a trading fee for every trade.

    Bybit vs. BaseFEX

    Both of these trading platforms are launched in 2018 with the sole objective of helping users to quickly trade crypto derivatives. Even though both Bybit and BaseFEX make use of multi-signature wallets to store its customers’ assets, BaseFEX wallet is considered more secure as it requires 5 out of 7 signatures to move funds out of the wallet. Except for the mining fees, both exchanges don’t charge any fee for deposits or withdrawals. On the other hand, BaseFEX manually processes withdrawals only once per day, Bybit processes withdrawal requests three times per day.

    Bybit vs. Deribit

    Bybit supports only perpetual contracts whereas Deribit allows users to trade cryptocurrency futures, options and perpetual. Both these trading platforms offer a leverage of up to 100x for trading Bitcoin and Ethereum. As for fees, both Bybit and Derbit don’t charge any additional fee to deposit or withdraw funds except for the mining fee. What’s more, both platforms follow the maker/taker model and charge 0.075% taker fee for every trade.

    Bybit Review Conclusion

    Bybit users can instantly buy cryptocurrency derivatives, even though it is a relatively new exchange platform, it still offers the standard security features like 2FA protection and securely stores its clients’ assets in cold storage wallets. However, the only drawback this exchange has, is the fact that it doesn’t support any kind of fiat payment options such as credit or debit card, electronic wallets and bank transfers. Since currently Bybit lists only 4 cryptocurrencies, it is ideal for traders who trade top-cap cryptos.

    Rating Score



    • Quick registration
    • Processes Multiple withdrawals (3) in a day
    • Two-factor authentication
    • No need to verify identity for trading
    • 100x Leverage


    • Supports only 4 cryptocurrencies
    • Not regulated
    • Doesn’t accept fiat payment options

    Similar Platform Reviews


    Owned by HDR Global Trading Limited, with its headquarters in Hong Kong, BitMEX is a P2P cryptocurrency trading platform and is well established in the crypto community. It's widely popular for its 100x leverage.

    Rating 4/5
    Full Review

    BaseFEX is a recently launched derivatives exchange with a promising future. Launched back in 2018, it offers a great user experience, minimal fees and good liquidity, but does it have what it takes to outrun BitMex?

    Rating 4/5
    Full Review
    casinoin-promotion etoro-promotion