Bybit is one of the largest cryptocurrency exchanges in the world by trading volume and a leading venue for derivatives. Founded in 2018 and now headquartered in Dubai, it is known for deep liquidity, low fees, and a fast, feature-rich platform. It is a powerful choice for active traders — with important caveats around security and availability.
Quick Facts
| Item | Detail |
|---|---|
| Founded | 2018 (Ben Zhou) |
| Headquarters | Dubai, United Arab Emirates |
| Public company | No (privately held) |
| Assets listed | 500+ cryptocurrencies |
| Availability | Many countries — not available in the United States |
| Best for | Active and derivatives traders |
Trading Fees
Bybit’s fees are among the most competitive in the industry, which is a major reason for its popularity with high-volume traders. Spot and derivatives use separate tiered schedules.
| Market | Maker | Taker |
|---|---|---|
| Spot | ~0.10% | ~0.10% |
| Derivatives (perpetuals) | ~0.01% – 0.02% | ~0.055% – 0.06% |
Rates improve with volume and VIP tier and may change; check the live fee schedule before trading.
Security and Regulation
Security is the part of any Bybit review that demands honesty. In February 2025 Bybit suffered the largest theft in crypto history, with roughly 1.4 billion dollars in Ethereum stolen in a sophisticated attack. Crucially, Bybit covered the loss in full, kept customer assets backed one-to-one, and processed withdrawals without interruption — a response widely seen as well handled. Even so, the breach is a real data point: Bybit carries lighter regulatory oversight than Coinbase or Kraken. Users should enable every available security control and consider self-custody for long-term holdings.
Key Features
- Derivatives — deep perpetual and futures markets with high liquidity.
- Copy trading — mirror the positions of experienced traders.
- Spot and margin — a broad selection of 500+ assets.
- Earn products — flexible and fixed yield options.
- Web3 and launchpad — access to new tokens and on-chain tools.
Pros and Cons
Pros
- Very low fees, especially on derivatives
- Deep liquidity and fast order execution
- Wide asset selection and advanced trading tools
- Transparent, solvent response to the 2025 security breach
Cons
- Suffered the largest exchange hack on record in 2025
- Not available to users in the United States
- Lighter regulation than top US-based exchanges
- Derivatives carry high risk for inexperienced traders
Who Should Use Bybit
Bybit is built for active traders who want low fees, deep liquidity, and advanced derivatives, and who are comfortable managing their own risk. It is not the right starting point for complete beginners or for users who need a US-regulated platform. For long-term storage, move holdings to self-custody.
Verdict
Bybit is a top-tier trading platform — fast, cheap, and liquid. The 2025 hack is a genuine mark against it, partly offset by a transparent, fully funded recovery. For experienced traders outside the US it remains compelling; cautious and beginner users should weigh the security history carefully.
The Currency Analytics rating: 4.1 / 5
The Currency Analytics maintains editorial independence. Ratings reflect our own assessment and are not influenced by any exchange. This article is informational and not financial advice.