Bybit — Ron's Review 2026
A Crypto Derivatives Exchange
Contains affiliate links; I may earn a commission at no extra cost to you. Scores are not affected. Read the disclosure
Verdict
Bybit — A Crypto Derivatives Exchange. Founded in 2018, headquartered in Dubai, UAE. Maker fee 0.02%, taker fee 0.055%, up to 125x leverage.
Suitable for
- Active futures traders who need low latency execution
- Beginners who want to copy professional traders
- Anyone wanting 125x leverage without KYC
- Mobile-first traders — the app is exceptional
- API and algo traders who need fast WebSocket execution
- Traders in the 160+ supported countries outside the US, UK, Singapore and Canada
Not suitable for
- US-based traders (geographically restricted)
- Spot-only traders seeking the widest selection
- Traders who need fiat on-ramp convenience
- Traders in the UK, Singapore or Canada (restricted)
Key facts
| Fact | Value | Source | Checked |
|---|---|---|---|
| Founded | 2018 | Exchange documentation | March 2026 |
| Headquarters | Dubai, UAE | Exchange documentation | March 2026 |
| Maker fee | 0.02% | Exchange documentation | March 2026 |
| Taker fee | 0.055% | Exchange documentation | March 2026 |
| Max leverage | 125x | Exchange documentation | March 2026 |
| Futures pairs | 350+ | Exchange documentation | March 2026 |
| Options | Yes | Exchange documentation | March 2026 |
| Copy trading | Yes | Exchange documentation | March 2026 |
| KYC | Not required | Exchange documentation | March 2026 |
My test results
I funded a real account and placed orders on Bybit, then recorded fees, funding, slippage and withdrawal time. Anything still missing is marked [CẦN ĐO].
A screenshot of the real position will be added here.
| Measurement | Result |
|---|---|
| Fees paid | [CẦN ĐO] |
| Funding paid / received | [CẦN ĐO] |
| Average slippage | [CẦN ĐO] |
| Withdrawal time | [CẦN ĐO] |
Ron's take
"Bybit is my daily driver for perpetual futures. The execution speed is unmatched, the copy trading ecosystem has the most transparent trader stats I've ever seen, and their 125x leverage gives serious room to maneuver. After years of using all the major platforms, Bybit consistently wins on pure trading performance."
What is Bybit?
Bybit is a crypto derivatives exchange founded in 2018 by Ben Zhou, a former Credit Suisse forex trader. It is headquartered in Dubai under a VARA (Virtual Assets Regulatory Authority) licence — incorporated as Bybit Fintech Limited (BVI) — and is the #2 exchange globally by derivatives open interest, with 60M+ users and $10B+ daily volume. Products span USDT- and USDC-margined perpetuals, inverse perpetuals, BTC/ETH options, spot, copy trading, P2P fiat, Earn and a Web3 wallet, all tradable from a single Unified Trading Account. Bybit is available in 160+ countries but restricted in the US, UK, Singapore, Canada and mainland China.
Want the complete analysis? Read the full in-depth Bybit review — fees, security, copy trading, and who should use it.
Read full reviewTrading features tested
Bybit covers every major derivatives use case in a single app. Here is what the platform offers:
- USDT perpetuals — deepest liquidity outside Binance, sub-1bp spreads on BTC/ETH
- Inverse perpetuals — BTC/ETH coin-settled, useful for hedging a BTC stack without USDT exposure
- Options — BTC/ETH with a Deribit-style interface; liquidity thinner than Deribit but improving
- Copy trading — 180,000+ verified masters with on-chain ROI history, from $10 USDT per trader
- Bots — DCA, grid and futures-grid bots, all built in with no third-party subscription
- Native TradingView — chart directly inside Bybit without an external tab
- API — fast REST execution and WebSocket order fills for algorithmic traders
- Sub-accounts — up to 20 sub-accounts under one KYC for strategy separation
Fast execution
Low-latency matching and WebSocket fills for active and algorithmic traders.
Broad perpetual coverage
USDT-margined perpetuals across the majors and a long tail of altcoins, with new listings weekly.
Built-in bots
DCA, grid and futures-grid bots included in every account — no separate subscription.
Security after the February 2025 hack
Bybit lost $1.5B in February 2025 — the largest crypto hack on record — but no user funds were lost.
What happened — 21 February 2025
North Korea's Lazarus Group compromised Bybit's multi-signature cold wallet through a malicious UI injected into the third-party Safe{Wallet} signing interface. Around $1.5B in ETH and stETH was drained. It remains the largest single crypto hack in history.
Zero user losses — funds restored in 72 hours
Bybit covered 100% of losses from company reserves and emergency credit facilities. Every affected user was made whole within three days.
Insurance fund rebuilt to $1.4B (March 2026)
Post-incident, Bybit grew its insurance fund beyond its pre-hack level, published monthly with third-party attestation.
New self-custody cold storage
Bybit removed its dependency on third-party signing interfaces and deployed MPC-based cold storage with hardware security modules, audited by three independent firms.
Monthly Merkle-tree Proof of Reserves
Every month Bybit publishes a Merkle-tree PoR that any user can verify. The April 2026 report showed 101.2% collateralisation.
Ron's security verdict
The hack raised Bybit's risk profile — I won't pretend otherwise. The response was exemplary: no user lost money, transparency was immediate, and the rebuilt infrastructure is genuinely stronger than most competitors. I continue to hold active positions on Bybit.
KYC and registration
Registration takes 2 minutes; KYC Lite unlocks $50k/day withdrawals in under 10 minutes.
Email or phone + 2FA
About 2 min
Create the account with email or phone, then enable Google Authenticator immediately — it is required before depositing.
KYC Lite
About 10 min
Name and government ID scan. Unlocks full trading and up to $50,000/day withdrawals; verified in minutes for most countries.
KYC Full
Up to 24h
Selfie plus proof of address. Required for fiat deposits and withdrawals above $50k/day. Most traders never need it.
Copy trading on Bybit
Bybit copy trading has 180,000+ verified masters with on-chain ROI history.
When picking a master to copy, look for a sustained 90-day ROI, a contained maximum drawdown and a meaningful follower base. Filtering on those three criteria cuts the odds of copying an inconsistent strategy.
- Total masters
- 180,000+
- Min copy amount
- $10 USDT
- Platform fee
- 0%
- Profit share
- 10%
Past performance is not indicative of future results. Copy trading carries a significant risk of loss.
Bybit mobile app
The iOS and Android apps are feature-complete, with full parity to desktop.
iOS app
Push price alerts, Face ID login and a widget for live PnL.
Android app
Full feature parity with iOS. Fingerprint login and customisable price-alert sounds.
Push alerts
Price, funding-rate, liquidation-warning, copy-trader activity and P&L milestone alerts — all configurable.
Customer support
Live chat, email and a self-serve help centre cover most support needs.
Live chat
24/7 in most regions
For account and verification issues
Help centre
Self-serve guides and FAQs
Vietnamese-language live chat support is available.
Related guides
Pros & cons
Pros
- Industry-leading 125x leverage on major perpetual pairs
- Best-in-class copy trading with 100K+ master traders to follow
- Fast execution with sub-millisecond order placement latency
- No KYC required for basic trading, generous limits
- Generous welcome bonus for new users
- Comprehensive educational resources including Bybit Learn
- Deepest BTC/ETH perpetual liquidity outside Binance
- Monthly Merkle-tree Proof of Reserves and a $1.4B insurance fund (March 2026)
- Up to 20 sub-accounts under a single KYC for strategy separation
- Average withdrawal confirmed in around 8 minutes
Cons
- Not available to US residents
- Customer support response times can be slow during peak hours
- Maker fee slightly higher than MEXC at 0.02%
- Options liquidity thinner than Deribit — wider spreads on altcoin options
- Steeper learning curve than spot-only exchanges
How does Bybit score?
Bybit currently leads 1 of the 7 ranking categories.
Futures
Deep liquidity, up to 125x leverage and a 0.02% maker fee across 350+ perpetual pairs.
Fee structure
Fees below are taken from the exchange's published schedule. Confirm current rates on the exchange before you trade.
| Item | Fee |
|---|---|
| Spot maker | 0.10% |
| Spot taker | 0.10% |
| Futures maker | 0.02% |
| Futures taker | 0.055% |
| BTC withdrawal | 0.0002 BTC |
| Funding rate | 0.01% / 8h |
How to get started on Bybit
Six steps from sign-up to your first position, in the order I would do them.
- 01Click my affiliate link to get a $30,000 welcome bonus — significantly higher than signing up directly.
- 02Register with your email. No KYC required for futures trading up to the standard withdrawal limit.
- 03Deposit USDT, BTC, or ETH directly from your wallet. Minimum deposit is $0.
- 04Navigate to Derivatives → USDT Perpetual and choose your first pair. Start with BTC/USDT if you're new.
- 05Set your leverage (I recommend 5-10x max if you're starting out), configure your stop-loss, and place your first trade.
- 06Optional: Head to the Copy Trading section and browse master traders. Filter by 30-day ROI and max drawdown before copying.
Alternatives worth comparing
Three close alternatives on fees, leverage and product range — open the side-by-side comparison before you decide.
- Maker / taker
- 0.02% / 0.05%
- Max leverage
- 125x
- Maker / taker
- 0.02% / 0.05%
- Max leverage
- 125x
- Maker / taker
- 0.03% / 0.05%
- Max leverage
- 50x
Frequently asked questions
Is Bybit safe after the 2025 hack?
Yes — Bybit fully restored all user funds within 72 hours of the February 2025 $1.5B hack, and no single user lost money. The attack exploited a third-party Safe{Wallet} signing interface, not Bybit's own code. Since then Bybit has rebuilt its insurance fund to $1.4B (March 2026), deployed new self-custody cold storage, and publishes a monthly Merkle-tree Proof of Reserves.
What is Bybit's taker fee for futures?
0.055% taker / 0.02% maker for USDT and inverse perpetuals at VIP-0. Options are 0.05% taker / 0.02% maker and spot is 0.10%. VIP-5 cuts futures fees to 0.02% taker / 0.005% maker, and rates fall further with 30-day volume.
What is the maximum leverage on Bybit?
125x on BTC and ETH perpetuals; most major altcoin perps go up to 50x, and new accounts are typically capped lower until a risk acknowledgement is completed. At 125x a roughly 0.8% adverse move triggers liquidation — always trade with a stop.
Can US traders use Bybit?
No. Bybit is restricted in the United States, United Kingdom, Singapore and Canada. US traders can consider Kraken, Coinbase or dYdX instead. Bybit remains available in 160+ other countries across Europe, Asia, Latin America, the Middle East and Africa.
Does Bybit require KYC?
KYC Lite (name plus government ID, about 10 minutes) is required for most trading and withdrawals and unlocks up to $50,000/day. Full KYC (selfie plus proof of address) is required for fiat deposits and larger withdrawals above that limit.
Does RonOnCrypto charge for this review?
No. Reviews and tools are free and need no sign-up. This page contains affiliate links; I may earn a commission at no extra cost to you, and scores are not affected.
Ready to trade?
Open a Bybit account
Use the link below — fee schedule and terms are confirmed on the exchange.
Auditor
Ron Nguyen
Crypto derivatives trader since 2020 · liquidated 3 times · paid over $12,000 in fees · tested 16+ exchanges with real capital.
Risk note
Trading crypto derivatives with leverage carries a high risk of losing your capital. Nothing on this page is financial advice. Fee, leverage and feature figures change — always confirm current terms with the exchange before you trade.