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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection describes how a provider safeguards customer assets if it becomes insolvent or loses funds in a hack. Government deposit insurance does not cover crypto held on an exchange: FDIC insurance in the US and the EU deposit guarantee of up to €100,000 per depositor and bank cover money held at banks only. Some exchanges run their own insurance policy or protection fund instead, which covers part of customer assets on terms the exchange sets.
The overall rating is our editorial judgment of the platform as a whole. It draws on the six individual ratings, but it is not their average and has no fixed weights. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
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Bybit Review
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Bybit is a top platform for advanced traders, offering extensive derivatives and leveraged trading options with competitive fees. It excels in security and user experience but may be complex for beginners due to its advanced features. Geographical restrictions, particularly in the U.S., limit access, and withdrawal fees can vary. Overall, Bybit is well-suited for experienced traders looking for sophisticated tools and high-risk trading opportunities, but beginners should approach with caution.
Overview
Quick Facts
Bybit excels as a major platform for cryptocurrency and derivatives trading. Targeted towards professional traders, it offers numerous features, a lucid trading view, and competitive fees. Bybit is a favored choice for expert crypto trading.
Informations
Pro's & Con's
- Clear trading view
- Large selection of trading tools
- Low fees
- Might be complex for beginners
- Global platform still under assessment by the Seychelles FSA
Bybit
Features
Feature Overview
Unique Features
- Spot, derivatives, bot trading, and copy trading8
- Bybit Earn
- Launchpad
Tradable Assets
- Cryptocurrencies
Trading Options
- Derivatives
- Margin trading (leverage)
- Short/Long
Our
Bybit
Review
Our Rating
Conclusion
Bybit is a top platform for advanced traders, offering extensive derivatives and leveraged trading options with competitive fees. It excels in security and user experience but may be complex for beginners due to its advanced features. Geographical restrictions, particularly in the U.S., limit access, and withdrawal fees can vary. Overall, Bybit is well-suited for experienced traders looking for sophisticated tools and high-risk trading opportunities, but beginners should approach with caution.
Customer Reviews
/ 5 average rating from 1 reviews
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Bybit runs on the web and in apps for iOS and Android, and Bybit EU has its own app. In our view, one account for spot, derivatives, copy trading and bots works well once you know what you want to trade, but the number of products and order screens takes time to learn.
App store users rate the main app well: 4.72 on the UK App Store from 5,195 ratings, 4.74 on the German App Store from 7,438 ratings and 4.6 on Google Play from 1.43 million reviews. The Bybit EU app has 4.55 on the German App Store from 360 ratings.
Bybit's range covers spot, spot margin, perpetual and dated futures, inverse contracts and options, plus copy trading, grid and dollar-cost averaging bots, Bybit Earn, crypto loans, a P2P market, TradFi products through MT5 and 11 tokenized US stocks on spot.
The limits: Bybit EU lists 108 crypto assets and no USDT or USDC perpetual or futures contracts, and in the UK Bybit relaunched with spot trading and P2P. Bybit closed its NFT marketplace in April 2025. In our view, the range is broad for traders, and we rate it a little lower than Kraken's.
Beginner friendliness is one of the two criteria we rate lowest for Bybit. All products and services need at least Standard identity verification, which Bybit says usually takes about 15 minutes and at times up to 48 hours. Advanced adds proof of address and Pro adds extra due diligence, and the daily withdrawal limit rises from 1 million USDT at Standard to 2 million USDT.
Recurring Buy, One-Click Buy and P2P give newcomers simple ways in. In our view, the trading screens, the leverage on offer and the number of products make Bybit a better second platform than a first one.
Fees are the criterion we rate highest for Bybit. Spot trading starts at 0.10% maker and 0.10% taker at VIP 0 and falls to 0.030% maker and 0.045% taker at Supreme VIP. Perpetual and futures contracts start at 0.02% maker and 0.055% taker, and options at 0.02% maker and 0.03% taker. Crypto deposits are free, and P2P trades carry no Bybit fee.
Costs rise for spot pairs against a fiat currency (0.20% taker), for xStocks (0.20%), for One-Click Buy, where the third-party provider sets the fee, and on Bybit EU (0.25% on spot). In our view, Bybit is among the cheaper exchanges for regular trading; our ranking of exchanges by fees shows how other platforms compare.
Security and trust is the other criterion we rate lowest for Bybit. In its favor, Bybit publishes regular proof-of-reserves reports, names two-factor and hardware authentication in its legal documents and announced a SOC 2 Type II audit by Deloitte, and Bybit EU holds a MiCA authorization from Austria's FMA.
Against it: about $1.5 billion was stolen from Bybit in February 2025, a theft the FBI attributed to North Korea. In our view, the reserve report after the hack is reassuring.
Bybit's help center has public articles on fees, identity verification and restricted countries, which we read for this review. For a problem, you submit a case to Customer Support; Bybit says you then receive an automated email with the case number and that the team replies within one working day, at least for verification issues. In our view, the help center is good for self-service, and the case system leaves you a written record.
Our verdict: in our view, Bybit is a strong choice for active traders in the countries it serves who want low spot and derivatives fees, a large contract list, copy trading and bots in one account. The hack of February 2025 and a global operator whose Seychelles license application is still under assessment are the main points against it. If you are new to crypto, we rate Coinbase and Bitpanda higher for beginners. If you live in the US, see our list of exchanges for US customers.
About
Bybit
Bybit
Bybit Review: Fees, Products, Security and Who It Suits
Our verdict: in our view, Bybit is a strong pick for active traders who want low fees, a deep derivatives offer, and trading automation in one account, and a weaker one for beginners.
The global platform is operated by Bybit Technology Limited in the Seychelles. It charges 0.10% for spot maker and taker orders at the entry tier, and 0.02% maker and 0.055% taker on perpetual and futures contracts. In the EEA, Bybit EU GmbH in Vienna holds a MiCA authorization from Austria's FMA and offers a smaller spot product.
Bybit suits you if:
- you trade often and want spot, perpetual futures, options, copy trading, and bots in one account.
- you care most about low trading fees.
- you live in the EEA and want a MiCA-authorized provider through Bybit EU.
Bybit might not be the right fit if:
- you are buying crypto for the first time. In our view, the product range and order screens assume trading experience.
- you want the company behind the global platform to hold a license. The Seychelles FSA lists Bybit Technology Limited with the status "Assessment".
We rate Bybit higher for its range of functions than for beginner friendliness. For beginners, we rate Coinbase and Bitpanda higher. Both are covered in the alternatives below. If you live in the US, start with our answer to Is Bybit available in the US?
| Crypto Exchange | Cryptos | Trading Fee | Withdrawal Fee | For US Users? | EF Score |
|---|---|---|---|---|---|
 WEEX | 1173 | 0.1 % | ₿ 0.00016 | No |  9.8 /10 |
 MEXC | 1262 | 0.05 % | ₿ 0.00002 | No | 9.6 /10 |
 Binance | 416 | 0.1 % | VariesBinance sets this fee itself and adjusts it to activity on the Bitcoin network. On 2026-10-03 it charged 0.00002 BTC for a Bitcoin network withdrawal, about $1.69 at Binance's BTC/USDT price. | No | 9.4 /10 |
 OKX | 304 | 0.35OKX US entry tier (OKX INC.) for US residents. The global and EEA entry tier is 0.08% maker and 0.10% taker. % | VariesOKX charges the Bitcoin network fee it shows on its withdrawal page, and the amount changes with network load. On 2026-10-05 it showed 0.000015 BTC, about $1.29 at the OKX BTC index price. | Yes | 9.3 /10 |
 Bitpanda | 568 | 0.99 % | VariesBitpanda adjusts this fee to congestion on the Bitcoin network and says it earns nothing from it. On 2026-10-03 it showed 0.00000598 BTC, about $0.51 at Bitpanda's BTC price. | No | 9.2 /10 |
 KuCoin | 837 | 0.1 % | ₿ 0.00009 | No | 8.9 /10 |
 Bitvavo | 426 | 0.25 % | VariesBitvavo sets this fee itself and changes it with blockchain capacity. On 2026-10-03 it charged 0.000017 BTC, about $1.44 at Bitvavo's BTC/USDC price. | No | 8.8 /10 |
 eToro | 150 | 1 % | VariesMoving BTC from your eToro investment account to the eToro crypto wallet costs 2% of the amount (at least $1, at most $100). Sending it from the wallet to an external address then costs only the Bitcoin network fee. | Yes | 8.8 /10 |
 Kraken | 629 | 0.8 % | VariesKraken may adjust this fee as its costs and market conditions change. On 2026-10-03 its fee page showed 0.000015 BTC for a Bitcoin withdrawal when viewed from the US. | Yes | 8.8 /10 |
 Pionex | 311 | 0.05 % | ₿ 0.000018 | No | 8.5 /10 |
Bybit | 393 | 0.1 % | VariesBybit sets this fee itself and changes it often. Between 2026-10-02 and 2026-10-05 it showed 0.000035 to 0.000068 BTC for a Bitcoin network withdrawal. | No | 8.5 /10 |
 Coinbase | 407 | 0.9Coinbase Advanced spot entry tier for US residents. In the EU and UK the entry tier is 0.25% maker and 0.50% taker; in Brazil, India and other international markets it is 0.09% maker and 0.10% taker. % | VariesCoinbase sets this fee from its own estimate. Estimated Bitcoin network cost on 2026-10-03: about $0.36 (range $0.12 to $0.83 over the previous 24 hours, mempool.space). | Yes | 8.3 /10 |
 BSDEX | 10 | 0.35 % | ₿ 0 | No | 8.2 /10 |
 Bitfinex | 68 | 0 % | ₿ 0.00006 | No | 8.1 /10 |
 Bitstamp | 114 | 0.4 % | VariesBitstamp charges its own estimate of the Bitcoin network fee plus a processing fee it does not publish, and shows the total before you confirm. Estimated network cost on 2026-10-03: about $0.36 (range $0.12 to $0.83 over the previous 24 hours, mempool.space); the processing fee comes on top. | Yes | 8.1 /10 |
 Bitget | 511 | 0.1 % | ₿ 0.00002 | No | 8 /10 |
 justTRADE | 73 | 0.125justTRADE charges no maker or taker fees. You pay a 0.125% commission per crypto order plus a spread of at least 0.175% in the price. % | Not possiblejustTRADE does not allow transfers of crypto into or out of your account. | No | 8 /10 |
 Crypto.com | 416 | 0.5 % | VariesCrypto.com Exchange quotes 0.0004 BTC for a Bitcoin withdrawal, about $33.82 at its BTC price on 2026-10-03. The quote is based on an estimate of network fees, so the final fee may differ. | Yes | 8 /10 |
 Trade Republic | 50 | 0Trade Republic charges no commission on crypto trades. You pay a €1 settlement fee per trade, plus a spread in the price. % | VariesTrade Republic charges no fee to send crypto; you pay only the Bitcoin network fee. Estimated network cost on 2026-10-03: about $0.36 (range $0.12 to $0.83 over the previous 24 hours, mempool.space). | No | 7.9 /10 |
 Phemex | 139 | 0.1 % | ₿ 0.000015 | No | 7.8 /10 |
 Scalable Capital | 32 | 1% % | ₿ 0.99% - 0.69% | No | 7.8 /10 |
 CEX.IO | 272 | 0.25 % | VariesCEX.IO lists this fee as floating and sets the amount itself. On 2026-10-03 it listed 0.000075 BTC, about $6.35 at CEX.IO's BTC price. | Yes | 7.5 /10 |
 Relai | 1 | 1Relai charges a 1.00% service fee on transactions of €50 to €99,999.99, plus its own margin in the price. % | No feeRelai's wallet is non-custodial, so the bitcoin you buy is held in your own wallet. Relai covers the Bitcoin network fee when you buy; when you sell, the network fee is included in the price shown. | No | 7.5 /10 |
 Plus500 | 24 | 0Plus500 offers crypto as CFDs in the EEA. It charges no fee to open or close a trade and is paid mainly through the spread built into its quoted price. % | Not possiblePlus500 offers crypto as CFDs, so there are no coins to withdraw. | No | 7.5 /10 |
 WhiteBIT | 338 | 0.1 % | VariesWhiteBIT bases this fee on blockchain fees and the price of bitcoin, and it can change the fee without notice. On 2026-10-08 it listed 0.00009 BTC for a withdrawal on the Bitcoin network, about $7.48 at WhiteBIT's BTC price. | No | 7.4 /10 |
 Gate.io | 1464 | 0.1 % | VariesGate adjusts its withdrawal fees every hour based on network conditions. On 2026-10-04 its fee page showed 0.00003 BTC for a Bitcoin withdrawal, about $2.57 at Gate's BTC price. | No | 7.2 /10 |
 BitFlyer | 9 | 0.1bitFlyer USA entry tier for Lightning Spot; bitFlyer Europe also charges 0.10%. On bitFlyer USA, the Buy/Sell service has no separate fee, but its prices include a fee of 0.1% to 6.0%, and more when prices move sharply. % | ₿ 0.0004 | Yes | 7.1 /10 |
 Hotcoin | 285 | 0.2 % | ₿ 0.00003 | No | 7.1 /10 |
 bitcoin.de | 8 | 0.5 % | Variesbitcoin.de adjusts this fee regularly to the current Bitcoin network fee and keeps none of it. On 2026-10-22 its fee page showed 0.00000401 BTC, about $0.33 at Coinbase's BTC price. | No | 7 /10 |
 Gemini | 80 | 1.2 % | VariesGemini charges a dynamic fee meant to cover the Bitcoin network fee. Estimated network cost on 2026-10-03: about $0.36 (range $0.12 to $0.83 over the previous 24 hours, mempool.space). | Yes | 6.5 /10 |
 LBank | 885 | 0.1 % | ₿ 0.00005 | No | 6.3 /10 |
 Libertex | 102 | 0.1Libertex offers crypto only as CFDs. It charges a 0.1% commission on crypto CFDs, and the spread varies with the market. % | Not possibleLibertex offers crypto only as CFDs, so there are no coins to withdraw. | No | 6.1 /10 |
 Upbit | 360 | 0.05 % | ₿ 0.0002 | No | 6 /10 |
CFD risk warning: Libertex and Plus500 offer crypto as CFDs (contracts for difference), so you trade on the price without owning the coins. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs with these providers. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Bybit at a glance
- Operators: Bybit Technology Limited, Seychelles, for the global platform; Bybit EU GmbH, Vienna, Austria, for the EEA. Founded in 2018
- Status: active
- Regulation: MiCA authorization for Bybit EU (Austria's FMA); a CMA license in the UAE for the Bybit company in Abu Dhabi; status "Assessment" for the global operator at the Seychelles FSA
- Spot fees, entry tier: 0.10% maker and 0.10% taker on the global platform; 0.25% for maker and taker orders on Bybit EU
- Perpetual and futures fees, entry tier: 0.02% maker, 0.055% taker
- Crypto assets: 382 on the global platform, plus 11 xStocks, together on 530 spot pairs; 108 on Bybit EU; from Bybit's public API
- BTC withdrawal fee: Varies. A fixed amount per withdrawal that Bybit sets and adjusts
- Proof of reserves: Merkle-tree reports published by Bybit, 40 since December 2022
Bybit and US customers
Bybit does not provide services to the United States. Its help center lists the United States among the excluded jurisdictions where Bybit offers no services or products, and its KYC FAQ says the restrictions also follow nationality, not only where you live, so US nationals living abroad are excluded too. Bybit EU is not open to US nationals either. For those in the US, consider our list of exchanges for US customers and our response to Is Bybit available in the US?
What Bybit offers
On its global platform, Bybit's public API lists 382 crypto assets and 11 tokenized US stocks (xStocks) on 530 spot pairs. For derivatives, it presents 890 linear contracts, 850 of which are perpetual and 40 are dated futures, in addition to 26 inverse contracts. Bybit also provides options. Its app listing advertises up to 200x leverage on USDT and USDC perpetuals, with the API showing a maximum of 150x on the BTCUSDT perpetual.
Around trading, Bybit offers copy trading, trading bots for grid and dollar-cost averaging strategies, Bybit Earn for savings and on-chain staking, a P2P market, crypto loans, the Bybit Card, and TradFi products via MT5. Recent changes include Bybit EU gaining its MiCA authorization, Bybit relaunching in the UK with spot trading and P2P, and xStocks being introduced to spot trading. Bybit closed its NFT marketplace, Inscription marketplace, and IDO pages in April 2025.
Bybit EU is a more limited offering: its API lists 108 crypto assets and excludes USDT or USDC perpetual or futures contracts, and Bybit EU is separate from the global platform, with no transfers between them.
What Bybit costs: a worked example
Imagine using the global platform to deposit crypto, buy bitcoin with USDT, and later transfer it to your personal wallet. Bybit's published rates for the entry tier, VIP 0, include:
- Deposit crypto: Bybit imposes no fee for on-chain deposits or internal transfers.
- Buy on the spot order book: The fee is 0.10% for a maker order and 0.10% for a taker order. Your VIP level, and consequently your rate, depends on your asset balance or your 30-day volume, whichever is higher.
- Purchase with fiat: Spot pairs against a fiat currency incur 0.15% maker and 0.20% taker fees at VIP 0. One-Click Buy fees are set by third-party providers and displayed on the order page.
- Withdraw bitcoin: A fixed fee applies per withdrawal, regardless of amount. For Bitcoin, it ranged from 0.000035 to 0.000068 BTC in our recent checks, with a minimum withdrawal of 0.00027 BTC.
In our view, the trading fees are low: Bybit's 0.10% spot rate is under Kraken Pro's entry tier of 0.40% maker and 0.80% taker. Notable costs include fiat payments, which vary by currency and payment method, and the 0.25% spot fee on Bybit EU.
Security, regulation and what protects your money
For account security, Bybit's legal documents outline two-factor authentication, hardware authentication, and encrypted data transmission. Bybit has announced a Deloitte-completed SOC 2 Type II audit. What does not protect you: according to Bybit's terms, the digital assets it holds for you are not insured by any government authority. Its insurance fund only covers losses from futures liquidations, not customer deposits.
In the EEA, Bybit EU GmbH has a MiCA authorization from Austria's Financial Market Authority (FMA), granted in May 2025 and valid in 29 EEA countries, all except Malta. In the UAE, a separate Bybit company in Abu Dhabi holds a license from the Capital Market Authority (CMA). The global operator, Bybit Technology Limited, appears on the Seychelles Financial Services Authority (FSA) list with the status "Assessment", not among the licensed providers. The FSA says firms at this stage have submitted a complete application and may keep operating until it decides.
Regulatory history
- Ontario: in 2022, Bybit Fintech Limited settled with the Ontario Securities Commission (OSC) over trading as an unregistered dealer and disgorged USD 2,468,910.
- France: The AMF blacklisted Bybit's trading platform in May 2022 and reiterated the warning in May 2024. Today, Bybit EU serves French customers under its MiCA passport.
- India: In January 2025, India's Financial Intelligence Unit (FIU-IND) fined Bybit Fintech Limited for operating without registration.
Proof of reserves and the hack
Bybit publishes Merkle-tree proof-of-reserves reports, 40 since December 2022. Report number 40 covers 50 assets, each showing a reserve ratio of at least 100%, including 104% for BTC, 103% for ETH, and 110% for USDT. In our view, regular reports with these ratios are a good sign, though they are Bybit's own snapshots.
In February 2025, about $1.5 billion in virtual assets was stolen from Bybit, and the FBI attributed the theft to North Korea. Bybit's next proof-of-reserves snapshot, five days later, showed its ETH reserves at 102% of customer ETH. In our view, that ETH coverage five days later counts in Bybit's favor, but a loss of this size is the main point against Bybit in this review.
Alternatives to Bybit
For beginners in Europe: we rate Bitpanda higher than Bybit for beginner friendliness. Bitpanda is based in Vienna, Austria, holds a MiCA authorization from the FMA and includes a premium of 0.99% in the price when you buy or sell Bitcoin, more than Bybit's 0.10% spot fee. See our Bitpanda review.
For beginners in the US: we rate Coinbase higher than Bybit for beginner friendliness. Coinbase accepts residents from every US state and holds a New York virtual currency license from the NYDFS. However, its entry fees on Coinbase Advanced for US customers are 0.50% maker and 0.90% taker, which are higher than Bybit's. Check our Coinbase review and our list of exchanges for beginners.
For active traders in the US: we rate Kraken higher than Bybit for range of functions. Kraken serves residents in every US state except New York and Maine, provides spot margin to eligible US retail clients and futures through Kraken Derivatives US, with Kraken Pro starting at 0.40% maker and 0.80% taker. Refer to our Kraken review and our list of exchanges for day trading.
FAQ
Can you use Bybit in the US?
No. Bybit's terms list the United States as an excluded jurisdiction, and its KYC FAQ applies country restrictions by nationality, so US nationals living abroad are excluded too.
What are Bybit's trading fees?
On the global platform, spot trading fees are 0.10% for makers and takers at VIP 0, while perpetual and futures contracts incur 0.02% maker and 0.055% taker fees. On Bybit EU, the entry-level spot fee is 0.25%.
What are Bybit's withdrawal fees?
Bybit charges a fixed fee per coin and network that does not depend on the amount, and on-chain deposits are free. For Bitcoin, the fee ranged from 0.000035 to 0.000068 BTC in our recent checks, and the minimum withdrawal is 0.00027 BTC. Bybit adjusts these amounts, so check the withdrawal page before you send.
Is Bybit safe?
No exchange is without risk. In Bybit's favor: Bybit EU's MiCA authorization, two-factor and hardware authentication, regular reserve reports and a SOC 2 Type II audit by Deloitte. Against it: the theft of about $1.5 billion in February 2025 and no government insurance for the crypto it holds for you.
How we checked this review
We read Bybit's terms, fee pages, help center articles and proof-of-reserves page, looked up the European register of crypto-asset service providers and the Seychelles FSA list, and counted assets and contracts through Bybit's public API. The Updated date on this page shows when we last brought these facts up to date.
About the author
Ethan Parker is Senior Content Editor at Exchange Flow. He has followed crypto since 2015, from Bitcoin and Ethereum to the exchanges people use to buy and trade them.
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Bybit has been really exciting to use. They have a clean trading view and so many tools like derivatives, margin and even copy trading. I like that I can try high leverage trades when I'm comfortable and also use features like Bybit Earn and their Launchpad to discover new coins. The fees are low and the platform feels secure.
It's not for total beginners though, and some things can be compicated at first. You also need to know it's not availabe to US users and there isn't much regualtion yet. Withdraw fees can vary too. But if you're an experienced trader looking for lots of options and a powerful exhcange, Bybit is a great choice.