Bybit has established itself as a prominent cryptocurrency exchange, offering a range of services tailored to both novice and professional traders. However, recent developments have impacted the platform’s operations and reputation. This review provides an updated analysis of Bybit’s features, fees, security measures, and regulatory challenges to help you decide whether this exchange aligns with your cryptocurrency trading needs.
Pros & Cons of Bybit: Is This Exchange Right for You?
Before choosing Bybit, it’s essential to weigh its advantages and disadvantages.
| ✔ Pros of Bybit | ❌ Cons of Bybit |
| ✔ Advanced Trading Features – Bybit offers sophisticated tools, including futures and derivatives trading, catering to professional traders seeking complex strategies. ✔ Competitive Fee Structure – The platform provides attractive fees, with a 0.075% taker fee and a -0.025% maker rebate, effectively rewarding liquidity providers. ✔ High Liquidity – Bybit maintains substantial trading volumes, ensuring high liquidity and efficient order execution. ✔ Anonymous Trading – Bybit allows users to trade without mandatory KYC procedures, appealing to those prioritizing privacy. | ❌ Limited Asset Selection – Bybit supports a narrow range of cryptocurrencies, focusing primarily on major assets like BTC, ETH, EOS, XRP, and USDT. ❌ No Fiat Currency Support – The exchange operates exclusively with cryptocurrencies, lacking direct fiat deposit or withdrawal options. ❌ Regulatory Challenges – Bybit has faced legal issues in various jurisdictions, including warnings from Japan’s Financial Services Agency for operating without proper registration and ceasing services in the UK following FCA regulations. ❌ Recent Security Breach – In February 2025, Bybit experienced a significant security breach resulting in the loss of $1.5 billion in assets, marking one of the largest cryptocurrency thefts on record. |
Bybit Features: Is It Suitable for Professional Traders?
Bybit offers a suite of features designed to meet the needs of both beginner and professional traders.
Trading Interface & User Experience
Bybit provides a customizable interface with advanced charting tools, suitable for traders at various levels. The platform’s design emphasizes user-friendly navigation alongside professional-grade functionalities.
Trading Pairs & Liquidity
While supporting a limited selection of cryptocurrencies, Bybit ensures high liquidity across its available trading pairs, facilitating efficient trade executions with minimal slippage.
Futures & Margin Trading
Bybit specializes in derivatives trading, offering perpetual contracts with up to 100x leverage, appealing to traders seeking leveraged exposure to cryptocurrency markets.
Security Measures
Despite the recent security incident, Bybit has implemented robust security protocols, including storing the majority of funds in cold storage and utilizing multi-signature address schemes.
Customer Support
Bybit offers customer support through various channels; however, user experiences regarding response times and effectiveness have been mixed, indicating room for improvement.
Regulatory Challenges & Security Incidents
- Japan: Bybit has faced regulatory action from Japan’s Financial Services Agency (FSA) for operating without proper registration, leading to warnings and instructions to comply with local regulations.
- United Kingdom: In response to the Financial Conduct Authority’s (FCA) ban on retail cryptocurrency derivatives, Bybit ceased serving users in the United Kingdom in March 2021.
- Security Breach: On February 21, 2025, Bybit announced a significant security breach, with hackers stealing approximately 400,000 Ethereum (valued at $1.5 billion), marking the largest cryptocurrency exchange hack to date.
Final Verdict: Does Bybit Have Everything a Professional Trader Needs?
Yes, if you seek advanced trading features, competitive fees, high liquidity, and value trading anonymity.
No, if you prioritize a wide selection of cryptocurrencies, fiat currency support, stringent regulatory compliance, and a flawless security record.
Bottom Line
Bybit remains a significant player in the cryptocurrency exchange landscape, offering specialized tools and services for derivatives trading. However, potential users should be aware of its regulatory challenges and the recent security breach when considering this platform for their trading activities.