Bybit
Leading derivatives exchange with up to 100x leverage, advanced trading tools, and exceptional liquidity for futures traders.
About Bybit
Bybit, founded in 2018, has rapidly become one of the world's top cryptocurrency derivatives exchanges, serving over 20 million users globally. Originally focused exclusively on futures and perpetual contracts, Bybit has evolved into a comprehensive trading platform offering spot trading, derivatives, copy trading, staking, and NFTs. Known for its industry-leading derivatives liquidity, lightning-fast matching engine (processing 100,000 transactions per second), and professional-grade charting tools, Bybit is the go-to platform for active traders and leverage enthusiasts. The exchange offers up to 100x leverage on select pairs, unified margin accounts, and innovative products like inverse and USDT-margined contracts. With competitive fees, robust mobile apps, and 24/7 multilingual customer support, Bybit balances sophisticated trading features with an intuitive user experience.
History
Bybit was founded in March 2018 by Ben Zhou, a former Morgan Stanley executive and forex trader, with the vision of creating a professional-grade derivatives platform for cryptocurrency traders. Initially focused solely on Bitcoin and Ethereum perpetual contracts, Bybit quickly gained traction among leverage traders for its superior order matching engine, minimal slippage, and 24/7 customer support. The platform pioneered the dual-price mechanism to prevent market manipulation and implemented an insurance fund to protect traders from unfair liquidations. Bybit expanded to spot trading in 2021, added NFT marketplace in 2022, and launched copy trading in 2023. The exchange relocated its headquarters to Dubai in 2022, obtaining regulatory approval from Dubai's Virtual Assets Regulatory Authority (VARA). Despite regulatory challenges in several jurisdictions, Bybit has maintained strong growth, particularly in Asia and emerging markets, and consistently ranks in the top 3 for derivatives trading volume globally.
Key Milestones
- •2018: Founded in Singapore, launched BTC/ETH perpetual contracts
- •2019: Introduced dual-price mechanism to prevent liquidation manipulation
- •2020: Reached 1 million users, expanded to altcoin futures
- •2021: Added spot trading with 300+ cryptocurrencies
- •2021: Launched USDC-settled perpetuals and options trading
- •2022: Relocated to Dubai, obtained VARA license
- •2022: Launched NFT marketplace and Web3 integration
- •2023: Introduced copy trading and unified trading accounts
- •2024: Launched Bybit Card (crypto debit card in select regions)
- •2025: Surpassed 20 million users, became #2 derivatives exchange by volume
Leadership
Ben Zhou (CEO & Co-founder)
Fees
Trading Fees
Deposit Fees
Withdrawal Fees
Payment Methods
Fiat On-Ramp
Processing Times
Security & Trust
Insurance
Insurance fund covering liquidation losses and user protection. Multi-signature cold wallets insured through third parties.
Proof of Reserves
✓ PublishedSecurity Audits
- ✓Quarterly proof-of-reserves audits via Merkle Tree verification
- ✓Third-party security audits by CertiK and Hacken
- ✓Bug bounty program on Bugcrowd
- ✓ISO 27001 information security certification
Cold Storage
90%+ of user funds stored in offline cold wallets with multi-signature protection
Security Incidents
- ⚠No major hacks or security breaches to date
- ⚠Some phishing attempts targeting users (not platform vulnerabilities)
- ⚠2022: Minor API exploit affecting small number of users, immediately patched and users reimbursed
Features
futures
Industry-leading derivatives: USDT perpetuals, inverse contracts, quarterly futures. Up to 100x leverage. Lightning-fast execution (100,000 TPS).
margin
Unified margin account supports cross-margin trading across spot and derivatives with shared collateral. Up to 10x leverage on spot.
staking
Bybit Earn offers flexible savings, locked staking, liquidity mining, and dual asset products. APYs range 1-50%+.
earn
Comprehensive yield platform including staking, DeFi mining, launchpool, and auto-invest strategies.
launchpad
Bybit Launchpad for new token launches. Bybit Launchpool for farming new tokens with existing holdings.
copy Trading
Follow elite traders with proven track records. Automated copy trading with risk management settings. 1000+ traders available.
api
Professional REST and WebSocket API with 100,000+ API calls per minute. Python, Java, Node.js SDKs. Comprehensive docs.
💎 For Crypto Casino Players
Bybit is excellent for buying cryptocurrency to use at online crypto casinos.
Best Tokens for Gambling
Withdrawal Speed to Casinos
5-30 minutes. USDT TRC20 often fastest (under 10 minutes). First-time withdrawals may take longer for security review.
Pro Tips
Use P2P to buy crypto with zero fees. USDT TRC20 has lowest withdrawal fees (~$1). Enable withdrawal whitelist to prevent accidental wrong-address sends. For gamblers, consider keeping a separate non-KYC wallet as intermediate step for enhanced privacy.
How To Use Bybit
sign Up
verify K Y C
deposit Fiat
buy Crypto
withdraw To Casino
Pros & Cons
✓ Pros
- +Best-in-class derivatives platform with up to 100x leverage
- +Industry-leading liquidity and order execution (100,000 TPS)
- +Extremely low derivatives fees: 0.02%/0.055% maker/taker
- +600+ cryptocurrencies and 1,000+ trading pairs
- +Unified margin account for efficient capital usage
- +Advanced charting with TradingView integration
- +Copy trading with 1,000+ elite traders to follow
- +Excellent mobile apps (iOS & Android) with full features
- +24/7 multilingual customer support (live chat)
- +No major security breaches in 7+ years
- +Strong insurance fund protects against unfair liquidations
- +P2P trading with 100+ payment methods
- +NFT marketplace and Web3 wallet integration
- +BIT token provides fee discounts and governance rights
✗ Cons
- -Mandatory KYC since 2023 (reduced privacy)
- -Not licensed in major jurisdictions (US, UK, Singapore)
- -Restricted in US, UK, Ontario, and several other regions
- -High leverage (100x) very risky for inexperienced traders
- -Fiat withdrawal options limited - must sell to crypto first
- -Customer support quality varies during peak trading periods
- -Complex interface overwhelming for complete beginners
- -Withdrawal fees higher than Binance for some coins
- -Regulatory uncertainty - may face future restrictions
- -P2P disputes can be time-consuming to resolve
- -Limited educational resources compared to Coinbase
Frequently Asked Questions
Is Bybit safe?
Yes, Bybit has a strong security track record with no major hacks in 7+ years. They store 90%+ funds in cold storage, maintain insurance fund, and conduct quarterly proof-of-reserves audits. However, high leverage trading itself is risky.
Can US residents use Bybit?
No, Bybit does not serve US customers due to regulatory restrictions. US users attempting to access via VPN risk account closure and fund seizure.
What is the maximum leverage on Bybit?
Up to 100x leverage on select perpetual contracts (BTC, ETH). Most altcoins offer 25-50x. Note: High leverage is extremely risky and can lead to rapid liquidation. Beginners should use 5x or less.
Does Bybit require KYC?
Yes, as of 2023, KYC Level 1 (basic info) is mandatory for all users. Level 2 (ID verification) required for daily withdrawals over $50,000. This was implemented to comply with global AML regulations.
How do I withdraw fiat from Bybit?
Bybit doesn't support direct fiat withdrawals. You must sell crypto to stablecoin, then either use P2P to sell for fiat, or withdraw crypto to another exchange that supports fiat.
What's the difference between USDT and inverse perpetuals?
USDT perpetuals are settled in USDT stablecoin (easier for beginners). Inverse contracts are settled in the underlying crypto (BTC/ETH), preferred by advanced traders for hedging.
Can I use Bybit for crypto gambling?
Yes, Bybit doesn't prohibit withdrawals to gambling sites. However, ensure you select the correct network when sending to casino wallets. For privacy, consider using an intermediate wallet like MetaMask.
Why choose Bybit over Binance?
Choose Bybit if you primarily trade derivatives/futures (better fees, liquidity, and tools). Choose Binance if you need more comprehensive services (spot trading, fiat, broader token selection). Many traders use both.
What is unified margin account?
Unified margin lets you use a single collateral pool across spot and derivatives trading. This improves capital efficiency - you don't need to split funds between different accounts. Available for experienced traders.
Supported Tokens
+8 more
Details
Regulations
- ✓VARA licensed in Dubai, UAE (Virtual Asset Service Provider)
- ✓VASP registered in Poland (compliant with EU AML directives)
- ✓Registered in British Virgin Islands (corporate entity)
- ✓Not licensed in major jurisdictions (US, UK, Singapore)
- ✓Voluntarily exited certain markets (UK, Ontario) due to regulatory uncertainty
- ✓Implements KYC/AML for all users as of 2023
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