What is Bybit?
Bybit is a cryptocurrency trading platform specializing in spot and derivatives trading, particularly margin trading, offering up to 100x leverage on BTC/USD and ETH/USD pairs. Founded in March 2018 in Singapore, Bybit serves over 2 million users and operates under British Virgin Islands registration.
Key Features:
- Website: www.bybit.com
- Headquarters: Singapore
- Mobile App: Available (iOS/Android)
- Fees: Spot trading (0.1%), Derivatives (Maker: 0.01%, Taker: 0.06%)
- Leverage: Up to 100x
- Supported Cryptos: 280+ (BTC, ETH, LTC, EOS, etc.)
Bybit’s Strengths and Services
1. Spot & Derivatives Trading
Bybit offers high liquidity with $10B+ daily trading volume. Key products:
- Perpetual Contracts (Inverse/USDT margined)
- Futures Contracts (Up to 6 months expiry)
- Spot Trading (70+ pairs)
2. Margin Trading (100x Leverage)
Advanced traders can amplify positions but must manage risks carefully.
3. Insurance Fund
Protects traders from negative equity during volatile markets.
4. Testnet Platform
Practice trading with simulated funds.
👉 Explore Bybit’s advanced tools
Fees & Limits
| Type | Fee |
|------------------|---------------------|
| Spot Trading | 0.1% |
| Derivatives | Maker: 0.01%, Taker: 0.06% |
| Crypto Withdrawal| Variable (e.g., BTC: 0.0005 BTC) |
Pros and Cons
Pros:
- 280+ cryptos
- Low fees
- 24/7 support
Cons:
- No fiat withdrawals
- US users restricted
Is Bybit Safe?
Bybit is a legitimate platform with robust security:
- 99.99% uptime
- Two-factor authentication (2FA)
- Insurance fund for risk mitigation
Note: Negative reviews often stem from user errors (e.g., incorrect withdrawal chain selection).
FAQs
Q: Can US citizens use Bybit?
A: No. US residents must use alternative exchanges.
Q: What’s the minimum deposit?
A: No minimum for crypto deposits.
Q: How fast are withdrawals?
A: Typically under 8 hours (processed thrice daily).
Final Verdict
Bybit excels for experienced traders with its high leverage and diverse products. However, beginners should approach margin trading cautiously.