Founded in 2018 in Singapore after government approval for cryptocurrency platforms to register within the country's jurisdiction, Bybit has assembled professionals from all key sectors of modern financial markets:
- Investment Banking: Experts in mid-to-long-term investments, risk analysis, and forecasting.
- Technical Development: Specialists in security innovations and unrestricted access to company resources.
- Forex Industry: Professionals in algorithmic trading, day trading, arbitrage, and scalping.
- Blockchain Experts: Developers focused on ecosystem growth and blockchain derivatives to stabilize and strengthen the market.
Legally operating under the British Virgin Islands, Bybit boasts over 2 million users.
Services Offered by Bybit
Bybit caters primarily to professional traders with substantial deposits, offering an extensive suite of analytical tools and advanced features. Key offerings include:
1. Spot and Derivatives Trading
- Spot Trading: Standard for any crypto exchange, with 70+ trading pairs.
- Derivatives Trading: Includes futures and perpetual contracts (e.g., ETH/USDT, BNB/USDT).
2. Margin Trading with 100x Leverage
- High leverage for profits from price declines (short-selling).
- Tiered accounts provide incremental access to higher leverage.
3. Professional Trading Interface
- Advanced charting tools, order automation, and clean visualization.
4. Bybit Insurance Fund
- Protects client assets during extreme losses. Surplus margins are added to the fund.
5. TestNet Platform
- Demo version for practicing trades without real money.
6. Fiat Gateway
- Supports deposits via credit/debit cards and bank transfers (conversion fees apply).
7. 24/7 Live Chat Support
- Multilingual assistance for rapid issue resolution.
8. Mobile App (iOS/Android)
- Full-featured app with trading charts, analysis tools, and order placement (4.9-star average rating).
9. Stop-Loss/Take-Profit Orders
- Automated risk management for volatile markets.
Wallet and Fees
Wallet
- No standalone wallet; supports crypto deposits/withdrawals only.
Fee Structure
- Deposits: Free (network fees apply).
- Withdrawals: Fixed crypto withdrawal fees.
Trading:
- Derivatives: 0.01% (maker) / 0.06% (taker).
- Spot: 0.1% (both sides).
- Asset Swaps: 0.1% commission.
Bonuses and Promotions
- Trading competitions with $100,000+ prize pools.
- Regular giveaways for new users.
Security Measures
- Cold Storage: 95%+ assets offline.
- Insurance Fund: Covers unforeseen losses.
- Two-Factor Authentication (2FA): Mandatory for withdrawals.
Pros and Cons
Pros
✅ 160+ cryptocurrencies supported.
✅ Low trading fees (0.01–0.1%).
✅ 100x leverage for margin trading.
✅ Reliable mobile app (4.9/5 rating).
Cons
❌ No fiat withdrawals (crypto-only).
❌ Not available for U.S. citizens.
❌ Based in British Virgin Islands (regulatory concerns).
FAQs
1. Is Bybit safe?
- Yes, with cold storage, insurance funds, and strict KYC protocols.
2. Can I trade futures on Bybit?
- Absolutely! Perpetual contracts and futures are core offerings.
3. What’s the minimum deposit?
- No minimum for crypto deposits; fiat gateways may have limits.
4. How fast are withdrawals?
- Typically processed within 30 minutes (subject to blockchain congestion).
👉 Explore Bybit’s advanced trading tools today
Final Verdict
Bybit excels in margin trading and derivatives, offering high leverage and low fees. While its U.S. exclusion and fiat withdrawal limits are drawbacks, the platform remains a top choice for professional traders.
(Average rating: ★★★★☆)