Bybit is a derivatives trading platform that enables you to go long or short on popular cryptocurrencies — the exchange is mainly used by professional traders.
|US Residents Allowed||No|
|Withdrawal Limit Without KYC Documents||Unlimited|
|Credit/Debit Card Purchases||No|
|Trading Fees||Not Fixed | See Fees|
Start and Founder
Bybit started in 2018 by Ben Zhou, who is still the CEO of the company.
The technological team has been working for companies as such Morgan Stanley, Tencent, and Nuoya Fortune in the past.
Their headquarter is located in Singapore.
You can add two-factor authentication to protect your account — which we highly suggest.
They store 100% of the funds on a multi-signature cold wallet, and withdrawals only happen three times a day, using offline signatures.
The exchange has an insurance fund to cover losses in case there is a malfunction — please note that this is not used to bail out your losing trades.
The combined total loss could be bigger than the insurance fund can cover, so please do not store your cryptocurrencies on an exchange.
We strongly recommend everyone to use a hardware wallet.
Bybit doesn’t try to do many things, as they only have five assets that are available for trading, you can’t buy cryptocurrencies, and you can’t spot trade. They don’t have an exchange token either.
However, that also means that you do not need to submit your documents to use their platform.
Most exchanges fail because they try to do everything, while not having the capacity, or know how to do so.
Thanks to their approach, they have managed to challenge BitMEX and had a sharp rise in the past years.
Frequently Asked Questions
Pros and Cons
- Gives you the ability to margin trade
- Not only you can trade with no fees, but you can earn money thanks to maker rebates.
- Designed for professional traders
- Has a sign-up bonus
- Not available to US residents
- Not insured
|Contract||Highest Leverage||Maker Rebate||Taker Fee|
Thanks to their insanely good fee structure, you can get paid to trade on their website, as long as you only make maker trades.
A maker trade is when you post a bid/ask in the order book, without instantly taking any trades, which creates liquidity — that’s why the exchange is rewarding you for it.
A taker trade is when you take an order out of the order book; this costs a fee, but you don’t have to wait for your order to get filled.
Use one of the links in this review to receive an up to $90 sign up bonus.
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We did not contact anyone before writing this review, and we rated them to our best knowledge.