Bybit has grown from a derivatives-focused startup into one of the top five largest cryptocurrency exchanges in the world. Known originally for perpetual futures trading, Bybit now offers a comprehensive ecosystem including spot trading, earn products, an NFT marketplace, copy trading, and even a crypto debit card. This guide covers everything you need to know about using Bybit in 2026.
What Is Bybit?
Founded in 2018 and headquartered in Dubai, Bybit operates one of the most liquid derivatives markets in crypto. Key facts:
Registration and KYC
Creating Your Account
- Choose email or phone registration
- Enter your email/phone and create a password
- Verify with the code sent to your email or phone
- Complete the CAPTCHA
KYC Verification
Bybit has tiered KYC requirements:
| Tier | Requirements | Withdrawal Limit |
|---|---|---|
| No KYC | Email only | 2 BTC/day equivalent |
| KYC Level 1 | ID document + face scan | 50 BTC/day |
| KYC Level 2 | Address proof | Institutional limits |
To complete KYC Level 1:
- Select your country
- Upload your government ID
- Complete the facial recognition scan
- Wait for verification (usually within minutes)
Note: Bybit is not available in the United States. US residents are prohibited from using the platform. Always check your jurisdiction’s regulations.
Setting Up Security
Before using Bybit:
- Set a fund password (secondary password required for withdrawals)
- Enable the anti-phishing code in your security settings
- Whitelist your withdrawal addresses
Spot Trading on Bybit
Bybit’s spot exchange has grown significantly and now lists hundreds of trading pairs.
Making a Spot Trade
- Search for your desired trading pair (e.g., BTC/USDT, ETH/USDT)
- In the order panel, select your order type:
– Market: Instant execution at current price
– Limit: Set your price, wait for execution
– Conditional: Trigger-based orders (similar to stop orders)
- Enter the amount
Spot Fees
| Volume (30 days) | Maker Fee | Taker Fee |
|---|---|---|
| < $1,000,000 | 0.10% | 0.10% |
| $1M–$4M | 0.08% | 0.10% |
| $4M–$20M | 0.06% | 0.08% |
| $20M–$100M | 0.04% | 0.06% |
Bybit’s base spot fees are comparable to Binance. No native token discount exists, but VIP tiers are achievable through trading volume.
Derivatives Trading on Bybit
Important risk warning: Derivatives trading, including perpetual futures and options, carries extreme risk. You can lose your entire position in seconds due to liquidation. This section is informational — do not trade derivatives without fully understanding leverage, margin, and liquidation mechanics.
Perpetual Futures
Perpetual futures are contracts with no expiry date. They track the underlying asset price through a funding rate mechanism (periodic payments between long and short positions).
Key concepts:
Options
Bybit also offers options trading with fixed expiry dates. Options can be used to hedge positions or speculate with defined maximum loss (the premium paid).
Derivatives Fees
| Order Type | Fee |
|---|---|
| Futures Maker | 0.02% |
| Futures Taker | 0.055% |
| Options Maker | 0.02% |
| Options Taker | 0.03% |
Derivatives fees are generally very low — the real cost risk comes from funding rates and liquidation, not the trading fees themselves.
Bybit Earn
Bybit Earn offers multiple ways to generate yield on idle assets:
Flexible Savings
- Deposit USDT, USDC, BTC, or ETH into flexible savings accounts
- Withdraw at any time with no lock-up
- Typical APY: 4%–10% on stablecoins (rates fluctuate)
Fixed-Term Products
- Lock assets for 7, 14, 30, or 90 days
- Higher rates than flexible savings
- Cannot withdraw early
Dual Asset
- A structured product where you deposit one asset and may receive either the same asset or a different one at maturity, depending on price movement
- Generates higher yield in exchange for price risk
- Example: Deposit BTC, if price is above strike at expiry you receive USDT; if below, you receive more BTC
Liquidity Mining
- Provide liquidity to Bybit’s spot trading pools
- Earn a share of trading fees
Staking
- Stake proof-of-stake assets directly through Bybit
- Available for ETH, SOL, DOT, and others
Risk reminder: All yield products carry risk. Flexible savings can have reduced rates during low-demand periods. Dual asset products involve price risk.
Bybit Launchpad
Bybit Launchpad gives existing Bybit users access to new token launches at early prices:
- Tokens are distributed at launch price to eligible participants
- Participation requires holding USDT or BIT (Bybit’s institutional token) and staking it during the subscription period
- Early token access can generate significant returns but also carries risk if the project underperforms
To participate:
- Review the upcoming project details
- Commit the required USDT/BIT during the subscription window
- Receive your token allocation after the launch
NFT Marketplace
Bybit operates an NFT marketplace that supports Ethereum, Solana, and other chain NFTs. Users can:
- Buy and sell NFTs without leaving the Bybit platform
- Mint NFTs from participating projects
- View portfolio NFT values alongside crypto holdings
The NFT marketplace is relatively niche — dedicated marketplaces like OpenSea or Magic Eden typically have better liquidity for specific collections.
Bybit Card
The Bybit Card is a Visa prepaid card available to KYC-verified users in eligible countries (Europe and some Asian markets):
- Spend crypto directly at any Visa merchant
- No monthly fees
- Crypto-to-fiat conversion at the point of sale
- Top up with USDT, BTC, ETH, or other supported assets
- Virtual card available instantly; physical card shipped on request
Copy Trading
Bybit’s copy trading feature allows you to automatically copy the trades of profitable traders:
- Browse professional traders ranked by performance, risk score, and win rate
- Set a maximum copy amount and risk parameters
- Bybit automatically mirrors their trades in your account proportionally
Important: Past performance does not guarantee future results. Copy trading has real loss risk and you remain responsible for your funds.
Mobile App
Bybit’s mobile app (iOS and Android) offers the full platform experience:
- Full spot and futures trading
- Bybit Earn access
- Price alerts and notifications
- Portfolio tracking
- Face ID / biometric login
The app is widely considered one of the better exchange apps for mobile traders who use futures — the interface is designed for fast execution.
Security
Bybit’s security features include:
Bybit has not experienced a major hack as of 2026. However, in early 2025, Bybit suffered a significant security incident involving its Ethereum cold wallet — approximately $1.5 billion was compromised in a sophisticated supply chain attack. Bybit fully covered user losses and continued operations, but this event is an important reminder that even well-secured exchanges face risk.
Pros and Cons
Pros
- Excellent derivatives market with deep liquidity
- Comprehensive earn products
- Copy trading for passive income
- Low futures fees
- Strong mobile app
- Bybit Card available in many regions
Cons
- Not available for US users
- The derivatives focus is not suitable for all users
- Earn rates fluctuate and can drop suddenly
- Less regulated than Coinbase or Kraken in many jurisdictions
- 2025 security incident (fully covered, but notable)
Who Is Bybit Best For?
Bybit is ideal for:
- Experienced traders who want perpetual futures with deep liquidity
- Users interested in earn products and structured yield
- Traders outside the US who want a full-featured exchange
- Those interested in copy trading
Not recommended for:
- Beginners (the derivatives focus creates real leverage risk)
- US residents (not available)
- Long-term holders who prefer a simpler platform
FAQ
Can US residents use Bybit?
No. Bybit explicitly prohibits US residents from using the platform due to regulatory reasons. US users should look at Coinbase, Kraken, or Gemini.
Is Bybit safe?
Bybit has strong security infrastructure. It did experience a significant breach in early 2025 but fully compensated affected users. It remains operational and one of the most liquid exchanges. However, as with all centralised exchanges, keeping large amounts on-platform carries risk.
Does Bybit have a native exchange token?
Bybit does not have a utility token equivalent to Binance’s BNB. BIT is an institutional governance token for Bybit’s parent, BitDAO (now Mantle), but it is not used for fee discounts in the same way BNB is.
What is the maximum leverage on Bybit?
Bybit offers up to 100x leverage on Bitcoin perpetual futures. This is extremely high-risk and results in liquidation for a 1% adverse price move. Most experienced traders use 3x–10x leverage at most.
How do I withdraw from Bybit?
Go to Assets > Withdrawal, select the asset and network, enter your wallet address, complete 2FA, and confirm via email. New withdrawal addresses require a 24-hour cooling period if address whitelisting is enabled.
What are Bybit’s deposit methods?
Bybit supports crypto deposits, P2P fiat trading (using other users as counterparties), and third-party payment providers. Direct bank deposits vary by region.
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