An updated review of Bybit covering spot trading, derivatives, options, trading fees, identity verification, Proof of Reserves, Bybit Wallet, regional restrictions and the February 2025 security incident.
Risk warning: cryptocurrencies are highly volatile. Futures, options and other leveraged products may result in liquidation and the complete loss of the funds allocated to a position.
Security incident: on February 21, 2025, attackers compromised one Bybit Ethereum cold wallet and transferred assets worth approximately $1.46 billion. Bybit stated that it remained solvent and continued to back client assets one-to-one.
Bybit is a centralised cryptocurrency platform that has operated since 2018. It provides spot trading, perpetual contracts, expiry futures, options and additional digital-asset services.
The platform uses a unified trading account through which eligible users can access supported spot, derivatives, margin and investment products.
Product availability, payment methods, leverage limits, account features and the relevant legal entity depend on the user’s jurisdiction and verification status.
Maximum leverage is not available for every contract. Limits depend on the instrument, position size, risk tier, account equity and current exchange rules.
Bybit applies a maker-and-taker fee model. The effective rate depends on the product, VIP level, account category and region.
| Product | Maker Fee | Taker Fee | Additional Costs |
|---|---|---|---|
| Crypto Spot | 0.1000% | 0.1000% | Regional and special-zone rates may differ |
| Perpetuals and Futures | 0.0200% | 0.0550% | Funding and possible liquidation-related costs |
| Options | 0.0200% | 0.0300% | Delivery and liquidation fees may apply |
The table shows the published base rates for a non-VIP account. Higher VIP levels, professional users and market makers may qualify for different pricing.
Crypto deposits are generally not charged a deposit fee by Bybit. The sender may still pay a blockchain network fee. Withdrawal charges depend on the asset and selected network.
Earlier versions of this review stated that Bybit had not experienced a major confirmed breach. That statement became inaccurate after the events of February 21, 2025.
Bybit publishes Proof of Reserves information that allows users to verify the inclusion of their balance in the liabilities tree and review published reserve addresses.
Proof of Reserves improves transparency but is not deposit insurance, a government guarantee or a complete independent audit of every company liability.
Identity verification of at least Standard level is mandatory for Bybit products and services. Higher verification levels may be required for certain products, limits or regions.
Bybit’s global platform excludes several jurisdictions, including the United States, mainland China, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Crimea, Donetsk, Luhansk, Sevastopol and other regions identified in its current restrictions.
Access to the website or an affiliate link does not confirm that all products are available in a visitor’s country. Current regional conditions should be checked before use.
Bybit discontinued Cloud Wallet, Keyless Wallet, DexPro, its internal NFT services and Swap & Bridge during 2025. Seed Phrase Wallet and supported DApp connectivity remain available.
Earn and Copy Trading do not provide guaranteed returns. Rates may change, and products can involve market, liquidity, counterparty and technology risks.
Bybit remains a feature-rich cryptocurrency platform with a strong derivatives offering, a developed spot market, options, Copy Trading and additional wallet services.
Its assessment must also account for the scale of the February 2025 security incident and the liquidation risks associated with futures and high leverage.
FORECK.INFO’s assessment: Bybit is better suited to users who already understand cryptocurrency custody, maker-and-taker fees, margin requirements and derivative contracts.
Affiliate disclosure: some links on this page are affiliate links. FORECK.INFO may receive compensation following a referral or qualifying action. This does not influence the editorial rating or review conclusions.
Bybit began operating in 2018.
Yes. On February 21, 2025, one Ethereum cold wallet was compromised and approximately $1.46 billion in assets was transferred.
Yes. Identity verification of at least Standard level is required for all Bybit products and services. Higher levels may be required in some situations.
The published non-VIP base rate is 0.10% for both maker and taker orders on crypto spot pairs. Regional rates may differ.
The published non-VIP base rate is 0.020% for maker orders and 0.055% for taker orders. Perpetual contracts may also involve funding payments.
Selected derivatives may provide leverage of up to 100×. The applicable limit depends on the contract, risk tier and position size.
It is a transparency mechanism that allows users to verify the inclusion of their balance in published liabilities and review reserve addresses. It is not deposit insurance.
No. The United States is included in Bybit’s official list of excluded jurisdictions.
Bybit does not list the whole of Ukraine as excluded, but its global restrictions include Crimea, Donetsk, Luhansk and Sevastopol. Product and payment availability should still be checked for the user’s location.
No. Rates may change, and Earn products involve market, liquidity, counterparty and technology risks.
