Full review · Updated Aug 18, 2026
Written and fact-checked by the CryptoExID editorial team. Fee quotes and platform checks come from our own funded test accounts and primary-source disclosures.
Bybit review verdict for US readers
This Bybit review starts with a blunt caveat: if you live in the United States, you cannot legally sign up. Bybit's restricted jurisdiction terms block US residents, along with the UK, Canada and France, checked Aug 18, 2026. Our data team's one-line verdict reads: "Top-tier perpetuals engine and depth; cannot onboard several major Western markets." That line captures this Bybit exchange review. For eligible readers, Bybit is among the strongest derivatives venues we have tested, pairing 400-plus spot listings with deep perpetuals liquidity as of Aug 18, 2026. For US readers, it is a reference point, not a recommendation. Our ranking of the best crypto exchanges available in the US is the better starting point.
Bybit security after the February 2025 theft
In February 2025, attackers stole roughly $1.4 billion in ETH from a Bybit cold wallet, the largest crypto theft on record. We will not minimize that. A cold wallet compromise is a serious security failure, and it belongs at the top of any honest look at Bybit security.
The response still matters. Bybit reported keeping withdrawals open, replenishing reserves within 72 hours and publishing updated proof-of-reserves attestations in its incident reports. Withdrawals remained available during the response.
An honest assessment of Bybit's safety has two parts, and the second part is sobering. Bybit's published proof of reserves is a floor, not a guarantee. An attestation shows assets held at one snapshot moment; it does not prove full solvency or audit liabilities the way a financial audit would, and it cannot remove custody risk. Self-custody for long-term holdings remains a sensible habit. If security history weighs heaviest for you, our list of the most secure crypto exchanges compares venues on that axis.
Legal status, restricted countries and KYC
As for whether Bybit is legitimate, its operating history alone does not establish regulatory status or legality in every jurisdiction. The exchange was founded in 2018, is headquartered in Dubai and runs at global scale. Legitimacy is not the same as legal availability, though. Bybit's restricted jurisdiction terms, checked Aug 18, 2026, bar customers from the United States, the United Kingdom, Canada and France. The list of countries Bybit supports shifts with licensing, so it deserves a fresh check before signup.
Identity verification on Bybit has been mandatory for all withdrawals since 2023, per the vendor's identity policy. Trading and cashing out both sit behind verification.
Do not use a VPN to pose as an eligible resident. It violates the terms, weakens your account protections, and flagged accounts risk frozen funds. Our tester ran every check in this review with a genuine eligible-market ID and no VPN.
Bybit fees and the costs beyond the headline rate
Bybit fees look simple at the headline level. Spot trades start at 0.10% maker and 0.10% taker, per the vendor's fee schedule, checked Aug 18, 2026. Perpetual futures start at 0.02% maker and 0.055% taker on the same schedule. A maker order rests in the book and adds liquidity; a taker order fills immediately against it. Limit orders can still execute as taker if priced aggressively, which surprises people.
The real cost goes beyond Bybit trading fees. Perpetual positions pay or receive funding at intervals set by each contract, and that rate moves with positioning. Spreads widen on thin pairs. Card purchases and conversions may carry separate charges.
Withdrawal costs work differently. Bybit's withdrawal fee is an exchange-set amount that varies by asset and chain; it should not be described as the network gas charge. The fee table and live confirmation screen, checked Aug 18, 2026, show the applicable exchange fee. For venues competing hardest on price, see our lowest-fee crypto exchanges ranking.
Spot trading, perpetuals and account mechanics
Derivatives are the reason Bybit operates at this scale. A perpetual contract tracks an asset without an expiry date, using funding payments to tether its price to spot. Leverage lets a small margin balance control a large position. Liquidation closes that position automatically once losses approach the posted margin, and that mechanism is where inexperienced traders get hurt.
The unified trading account pools collateral across products, so margin in one currency can back positions in another. Demo mode mirrors live markets with paper funds, and we used it heavily. Margin, copy trading, bots, API access, OTC, lending, staking and institutional tools all showed as available in our feature check dated Aug 18, 2026, though regional availability varies.
Bybit futures testing
For the Bybit futures review portion of testing, our tester opened a BTCUSDT perpetual on Aug 18, 2026. The ticket previewed the taker fee and showed an estimated liquidation price before submission. The reduce-only toggle was readily available. Fills appeared promptly in the order history.
Supported coins and product availability
Bybit listed more than 400 spot assets in our Aug 18, 2026 count. Contracts rotate often: new perpetuals are added and illiquid ones get delisted, so verify a pair before planning around it. For head-to-head numbers, read our Binance vs Bybit comparison and our Bybit vs OKX comparison.
Deposits, payments, withdrawals and limits
Bybit payment methods depend on where you live. Card purchases and P2P trading showed as available in our feature check dated Aug 18, 2026, though coverage changes by country. US readers should not hunt for workarounds.
Our eligible-market tester made a crypto deposit on Aug 18, 2026. The full amount credited to the account, and we logged the transaction hash.
Withdrawals appeared to run through an automated pipeline on our test account. On that account, new addresses required whitelist confirmation, and picking the wrong network can burn funds. Our test withdrawal required completed identity verification. Bybit limits vary by asset, account tier and channel; the withdrawal screen shows your ceiling before you commit, and that screen is the figure to trust.
Our Bybit app and desktop test
For this Bybit app review we tested the mobile app, plus the desktop web platform in Chrome on macOS, on Aug 18, 2026.
Order entry felt quick. The ticket shows the fee preview and estimated fill before you confirm, and charts redrew without stutter during a volatile session. Face login worked, while a withdrawal on our test account demanded a fresh authenticator code plus an email confirmation. That is the right kind of friction.
Other friction was less welcome. The address-whitelist toggle was not immediately visible, and the P2P tab pushed vendor offers before explaining their fees. We opened a live chat about withdrawal holds. A bot replied instantly; a human agent followed with an answer matching the help center. Desktop order history exported cleanly to CSV.
Who Bybit suits, and what US users should choose instead
Bybit suits experienced derivatives traders in supported markets who want deep perpetuals books and advanced order tooling. It does not suit beginners, and it is not an option for US residents, full stop. Americans weighing offshore venues should start with our Bybit alternatives for US traders, which lists regulated platforms that legally onboard US customers. Our ratings are recalculated per country and intent, and affiliate Visit links never influence scores. Availability findings here were checked Aug 18, 2026.
Bybit FAQ
›Is Bybit available in the US?
No. Bybit's restricted jurisdiction terms, checked Aug 18, 2026, bar US residents from creating or using an account, and the same terms exclude the UK, Canada and France. The countries Bybit supports shift with licensing, so confirm the current list before signing up.
›Is Bybit safe after the 2025 hack?
In February 2025, attackers stole roughly $1.4 billion in ETH, the largest crypto theft on record. Bybit reported replenishing reserves within 72 hours, keeping withdrawals open and publishing updated proof-of-reserves attestations in its incident reports. Operations held, but custody risk at any exchange remains real.
›Does Bybit require KYC?
Yes. Identity verification has been mandatory for all withdrawals since 2023, per the vendor's identity policy. Expect to complete identity verification before funds can move out. Unverified accounts cannot withdraw, closing the anonymous path some older guides still describe.
›What are Bybit's trading fees?
Bybit trading fees start at 0.10% maker and 0.10% taker on spot, and 0.02% maker and 0.055% taker on perpetual futures, per the vendor's fee schedule, checked Aug 18, 2026. Perpetual positions also pay or receive funding, and card purchases may carry separate charges.
›How much are Bybit withdrawal fees?
Bybit sets withdrawal fees by coin and chain, and these exchange-set amounts are distinct from network gas. The fee table and confirmation screen, checked Aug 18, 2026, show the applicable figure. Check it before confirming.
›How many coins does Bybit support?
Bybit listed more than 400 spot assets in our count, checked Aug 18, 2026. Listings rotate as new tokens launch and illiquid ones are removed, so treat the figure as a moving target. Verify any specific pair before building a plan around it.