Bybit

What is Bybit?

Bybit was founded in 2018 by Ben Zhou, specializing in spot and derivatives trading, particularly perpetual contracts. Headquartered in Dubai, it is recognized for deep liquidity and advanced security measures. Serving over 60 million users globally, it is the world's second-largest exchange by trading volume. 

The platform offers a diverse range of services, including spot and derivatives trading, an NFT marketplace, and passive income products like staking and lending. Bybit supports 1,800+ cryptocurrencies, allowing investors to access stablecoins and altcoins.

Bybit Futures Fee Schedule

Bybit implements a maker-taker fee structure for futures trading, with fees varying based on users' VIP status. For non-VIP users (VIP 0), Bybit charges a taker fee of 0.055% and a maker fee of 0.02% for both Inverse and USDT/USDC perpetual contracts. 

Traders can achieve progressively lower fees by increasing their 30-day trading volume or maintaining higher asset balances to qualify for advanced VIP levels. For instance, Supreme VIPs enjoy zero maker fees alongside further discounted taker fees of 0.03%. 

Bybit Regulation & Licensing Explained

​Bybit has been actively pursuing regulatory compliance across various jurisdictions. It currently holds a VASP license (Georgia), ASFA license (Kazakhstan), and VARA license (Dubai). Bybit is also working toward obtaining a Markets in Crypto-Assets (MiCA) license in Austria, aiming to align with the European Union's regulatory framework. ​

Where is Bybit Available?

Bybit is accessible from 160 regions globally and supports 22 languages. There are currently 14 countries on the Bybit restricted countries list. The platform accepts deposits in 65 fiat currencies, including USD, CAD, EUR, GBP, AUD, MYR, HKD & MXN.

Is Bybit Safe and Legit?

In February 2025, Bybit faced a significant security breach, with hackers stealing approximately $1.5 billion in assets. Despite this setback, the exchange instantly replenished its reserves within 24 hours and continued operations without interruption, giving users confidence in the platform’s advanced safety measures.

Bybit prioritizes security through a multi-layered approach designed to safeguard user assets and personal data comprehensively. User funds are predominantly secured in offline cold wallets, employing advanced protective methods including multi-signature protocols, Trusted Execution Environment (TEE), and Threshold Signature Schemes (TSS). 

It also regularly conducts and publicly shares Proof of Reserves audits, ensuring asset holdings align precisely with customer deposits. Bybit further strengthens platform security through systematic security testing, a secure development lifecycle, and collaboration with external security experts via its ongoing bug bounty initiative with Hackerone.