Bybit Review 2025: The Derivatives Powerhouse That Delivers

My Introduction to Bybit

I started using Bybit about two years ago when I was looking for a better platform for derivatives trading. After getting frustrated with the limited leverage options and occasional downtime on other exchanges, a trading buddy recommended Bybit. What initially drew me in was their reputation for handling high-volume trades without system overloads – something that had burned me before during volatile market conditions.

Bybit has positioned itself as a derivatives-first exchange, and after extensive use, I can confirm they’ve absolutely nailed it. While they’ve expanded into spot trading and other services, their bread and butter remains futures and perpetual contracts, and it shows in every aspect of the platform.

Quick Summary:

• Best for: Derivatives traders, experienced crypto users, leverage enthusiasts
• Key advantage: Rock-solid platform stability, excellent liquidity, low futures fees
• Main drawback: Complex for beginners, limited spot selection
• My verdict: The best pure derivatives exchange in crypto

Getting Started on Bybit

Setting up my Bybit account was refreshingly straightforward. I was able to start trading derivatives within minutes without any KYC requirements – just an email verification. This was a huge plus for me as I wanted to test the platform before committing to full verification.

Registration Process

1. Email verification: 2 minutes
2. Basic trading: Immediate access
3. Optional KYC: For higher limits and fiat
4. Security setup: 2FA recommended

The interface initially felt intimidating with all the advanced trading options displayed prominently. However, Bybit offers a “Lite” mode that simplifies things considerably. I spent my first week in Lite mode before graduating to the Pro interface once I understood the platform’s layout.

The Testnet Advantage

One thing I appreciated was the testnet feature. Bybit provides a complete testing environment with virtual funds where you can practice derivatives trading without risking real money. I spent considerable time here learning how their liquidation engine works and testing different leverage strategies.

My testnet experience:

• Practiced with $100,000 in virtual funds
• Tested various leverage levels (5x to 50x)
• Learned the liquidation price calculations
• Experimented with stop-loss placement

This is something every new user should utilize before trading with real funds.

Trading Experience and Features

Derivatives Trading Excellence

Where Bybit truly shines is derivatives trading. The platform offers:

• Perpetual Contracts: Available for all major cryptocurrencies with up to 100x leverage
• Futures Contracts: Traditional futures with various expiration dates
• Options Trading: A newer addition but well-implemented
• USDT and Coin-Margined Contracts: Flexibility in how you want to margin your positions

I primarily trade BTC and ETH perpetuals, and the execution is lightning-fast. Even during the March 2024 volatility when Bitcoin swung 15% in hours, I never experienced any platform lag or failed orders. The trading engine handles 100,000 transactions per second, and it shows.

Order Types Available

Bybit offers every order type a serious trader needs:

• Market Orders: Instant execution at current price
• Limit Orders: Set your price, reduce fees
• Conditional Orders: Stop-loss and take-profit
• Track Margin Mode: Cross and isolated margin
• Reduce-Only Orders: For position management
• Post-Only Orders: Guarantee maker fees

Spot Trading

While not their primary focus, Bybit’s spot trading has improved significantly. They now offer around 380 trading pairs, which covers most of what I need. The spot trading interface is clean and integrates well with their derivatives platform, making it easy to hedge positions.

Copy Trading

I was skeptical about their copy trading feature initially, but it’s actually well-implemented. You can follow successful traders and automatically copy their trades. I allocated a small portion of my portfolio to this and have seen decent returns following a few conservative traders.

My copy trading results (6 months):

• Allocated: $2,000
• Current value: $2,450
• Return: +22.5%
• Traders followed: 3

Fee Structure Analysis

Bybit’s fee structure is competitive, especially for derivatives:

Spot Trading Fees

• Maker: 0.10%
• Taker: 0.10%
• With VIP: Down to 0.04%

Derivatives Fees

• Maker: 0.01% (often with rebates)
• Taker: 0.06%
• Funding Rates: Variable based on market conditions

Real-World Fee Calculations

For a $1,000 spot trade:

• Standard: $1.00 (maker) / $1.00 (taker)
• VIP 1: $0.80 / $0.80

For a $10,000 futures position:

• Maker: $1.00 (or rebate!)
• Taker: $6.00

For a $100,000 futures position:

• Maker: $10.00 (or rebate)
• Taker: $60.00

Fee Comparison

Exchange	Spot Taker	Futures Taker
Bybit	0.10%	0.06%
Binance	0.10%	0.05%
OKX	0.10%	0.05%
Bitget	0.10%	0.06%

What I really appreciate is their transparent fee calculator. Before placing any trade, you can see exactly what you’ll pay in fees. There are no hidden charges, and withdrawals are priced fairly based on network conditions.

Withdrawal Fees

Asset	Network	Fee
BTC	Bitcoin	0.0002 BTC
ETH	Ethereum	0.0012 ETH
ETH	Arbitrum	0.0001 ETH
USDT	TRC20	1 USDT
USDT	ERC20	3 USDT

I’ve managed to reduce my fees significantly by holding their BIT token and maintaining decent monthly volume. For active traders, these fee reductions can add up to significant savings.

Security and Trust

Security was a major concern when I started using Bybit, especially given the derivatives focus and leverage involved. Here’s what I’ve found:

Security Features

Infrastructure:

• Cold storage for majority of funds
• Multi-signature wallets
• Three-layer asset protection
• Regular third-party security audits

Account Security:

• 2FA mandatory for withdrawals
• Anti-phishing code
• Withdrawal address whitelist
• IP restriction options
• Login notifications

My Security Setup

1. Google Authenticator 2FA
2. Withdrawal whitelist enabled
3. Anti-phishing code active
4. Email notifications for all activities
5. Regular session monitoring

Track Record

I’ve never had any security issues with Bybit. Their 2FA implementation is solid, and I particularly like that they require email confirmation for any withdrawal address changes. The platform has never been hacked, which is reassuring given they handle billions in daily volume.

Insurance Fund

Bybit maintains a substantial insurance fund to protect traders from auto-deleveraging (ADL) during extreme market conditions. This fund has grown to over $300 million, providing a safety net for traders.

Platform Performance

This is where Bybit really sets itself apart. During my two years of use:

• Zero unexpected downtime
• Consistent sub-10ms order execution
• No lag during high volatility
• Accurate price feeds that match other major exchanges

Stress Test Results

The platform’s stability during the FTX collapse in late 2022 was particularly impressive. While other exchanges struggled with withdrawals and system overloads, Bybit operated normally throughout the chaos. Similarly, during the Bitcoin ETF approval volatility, Bybit handled the surge flawlessly.

Performance metrics I’ve observed:

• Order execution: under 10ms average
• Uptime: 99.99%
• API response: under 5ms
• Price feed accuracy: ±0.01%

Customer Support Experience

My interactions with Bybit support have been mostly positive:

Support Channels

• 24/7 live chat with actual humans
• Email support
• Comprehensive help center
• Telegram community
• Social media presence

Response Times

• Live chat: Usually under 5 minutes
• Email: 24-48 hours
• Complex issues: May require escalation

My Support History

I’ve contacted support six times:

1. Withdrawal delay: Resolved in 2 hours
2. Trading engine question: Answered immediately
3. Tax documentation: Thorough response in 24 hours
4. API configuration: Helpful response in 4 hours
5. Position liquidation question: Detailed explanation
6. Deposit not showing: Resolved in 1 hour

The support staff are knowledgeable about derivatives trading, which is refreshing. They understand concepts like funding rates, liquidation prices, and margin requirements.

Mobile Experience

The Bybit mobile app is decent but not exceptional. It includes all the core features:

• Full trading capabilities
• Real-time charts with indicators
• Position management
• Quick deposit/withdrawal
• Price alerts

Mobile App Issues

However, I’ve experienced occasional crashes during high volatility, and the interface can feel cramped on smaller screens. I prefer using the web platform for serious trading and the app for monitoring positions.

Mobile app rating: 3.5/5

Educational Resources

Bybit provides extensive educational content:

• Trading guides for beginners
• Video tutorials
• Regular webinars
• Trading competitions with prizes

Their “Learn & Earn” program actually pays you in crypto for completing educational modules. I earned about $50 worth of tokens going through their derivatives trading course.

Geographic Availability

Bybit is available in 160+ countries:

Full Access

• Most of Europe
• Asia (excluding some countries)
• South America
• Middle East
• Africa

Restricted

• United States
• UK (derivatives restricted)
• Canada (certain provinces)
• Singapore
• Japan

US Users

Unfortunately, Bybit is not available to US residents. US traders should consider alternatives like Kraken or Coinbase for regulated options.

Bybit Earn Products

Beyond trading, Bybit offers several earning options:

Available Products

• Flexible Savings: 2-5% APY on stablecoins
• Fixed-term Staking: Higher rates for locked periods
• Launchpool: Stake to earn new tokens
• Dual Asset: Higher risk/reward products

My Earn Strategy

I keep about 10% of my Bybit portfolio in earn products:

Product	Allocation	APY
USDT Flexible	$3,000	4.5%
BTC Staking	$2,000	2.1%
Launchpool	$1,000	Variable

Annual earnings estimate: ~$250

Comparison with Competitors

Bybit vs Binance

Feature	Bybit	Binance
Derivatives	Excellent	Excellent
Spot Selection	380	350+
Fees	Competitive	Slightly lower
Stability	Excellent	Very Good
US Access	No	Binance.US

Verdict: Bybit for derivatives; Binance for overall ecosystem.

Bybit vs OKX

Feature	Bybit	OKX
Derivatives	Excellent	Excellent
DeFi Integration	Good	Excellent
Fees	Competitive	Competitive
Interface	Cleaner	More complex

Verdict: Bybit for simplicity; OKX for DeFi features.

Risk Management on Bybit

My Risk Rules

1. Never exceed 20x leverage on any position
2. Always use stop-losses – no exceptions
3. Risk only 2-5% per trade of total capital
4. Keep 50% in spot for stability
5. Regular profit withdrawals

Liquidation Protection

Bybit’s liquidation engine is well-designed:

• Clear liquidation price display
• Auto-deleveraging as last resort
• Insurance fund protection
• Partial liquidation before full

Pros and Cons Summary

What I Love:

• Best-in-class derivatives trading platform
• Incredible system stability and performance
• Competitive fees with volume discounts
• No KYC for basic trading
• Strong liquidity and tight spreads
• Excellent risk management tools
• Responsive customer support

What Could Be Better:

• Spot trading selection still behind major exchanges
• Mobile app needs stability improvements
• Fiat on-ramp options are limited
• Interface overwhelming for beginners
• Not available in US
• Some features require KYC

Who Should Use Bybit?

Perfect For:

• Experienced traders wanting reliable derivatives trading
• Anyone seeking high leverage options
• Traders who value platform stability
• Those wanting to trade without immediate KYC
• Futures and perpetual swap traders

Not Ideal For:

• Complete beginners
• Those wanting extensive spot trading options
• Traders needing multiple fiat deposit methods
• Anyone uncomfortable with derivatives
• US residents

Final Verdict

After two years of active use, Bybit has earned its place as my primary derivatives trading platform. While it’s not perfect – the mobile app needs work and spot trading could be expanded – the core platform is rock-solid.

For derivatives trading, I haven’t found a better combination of reliability, features, and fees. The platform has never let me down during critical trades, and that reliability is worth its weight in gold in the crypto markets.

My Rating: 4.5/5 ⭐⭐⭐⭐

What would make it 5/5:

• Better mobile app
• More spot trading pairs
• US availability
• Lower spot trading fees

My Recommendation:

If you’re serious about derivatives trading and don’t need access from the US, Bybit should be at the top of your list. Start with the testnet, learn the platform, then graduate to live trading with conservative leverage. The learning curve is worth the reliability you get.

---

Frequently Asked Questions

Is Bybit safe to use?

Yes, Bybit has never been hacked and maintains strong security measures including cold storage, 2FA, and a substantial insurance fund.

What are Bybit’s trading fees?

Spot trading is 0.10% maker/taker. Derivatives fees are 0.01% maker (often with rebates) and 0.06% taker.

Can I use Bybit without KYC?

Yes, basic trading is available without KYC. However, higher limits and fiat services require verification.

Is Bybit available in the US?

No, Bybit does not serve US residents due to regulatory restrictions.

What’s the maximum leverage on Bybit?

Up to 100x on major pairs, though I strongly recommend using much lower leverage.

Does Bybit have a mobile app?

Yes, for both iOS and Android, though the web platform is more stable for serious trading.

How long do withdrawals take?

Most crypto withdrawals process within 30 minutes. Network congestion can cause delays.

Does Bybit offer staking?

Yes, Bybit offers various earn products including flexible savings, fixed staking, and launchpool opportunities.

---

Last updated: January 2025. I actively trade derivatives on Bybit. This review reflects 2 years of genuine experience. Always trade derivatives responsibly and never use more leverage than you can afford to lose. Affiliate links may provide compensation at no extra cost to you.