This ByBit Review 2025 takes a deep look into one of the largest and most popular cryptocurrency exchanges in the world. Since its launch in 2018, Bybit has become a go-to platform for derivatives traders, but it now offers a much broader suite of products including spot markets, options, staking, copy trading, and even a crypto debit card. If you are looking for a detailed and honest ByBit Review, this article will guide you through the strengths, weaknesses, and overall user experience of the exchange.
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ByBit Review: Company Background
Bybit was founded by Ben Zhou in 2018 and is headquartered in Dubai. This ByBit Review highlights that the company originally focused on perpetual futures trading, building strong liquidity and a reputation for low fees. Over time, Bybit has expanded into spot trading, options markets, and a range of yield products. The platform now serves over 60 million users worldwide, making it one of the biggest names in the global exchange space.
ByBit Review: Key Features and Products
A central part of any ByBit Review is the platform’s product offering. Bybit is best known for derivatives, where it offers perpetual futures contracts with leverage up to 100x. These advanced instruments attract professional traders who demand precision, liquidity, and low costs. In addition to futures, this ByBit Review notes that the exchange supports spot trading on hundreds of pairs, providing deep order books on popular assets like Bitcoin and Ethereum.
Bybit also introduced options trading, primarily for BTC and ETH, giving users another tool for hedging and speculation. Through Bybit Earn and Easy Earn, traders can put idle crypto to work in flexible or fixed-term yield programs, which often come with promotional APR boosters. Automation is another highlight of this ByBit Review. Copy trading allows newcomers to follow professionals, while built-in trading bots let users automate grid or dollar-cost averaging strategies.
One of the standout features discussed in this ByBit Review is the Bybit Card, available in selected regions like Australia and Europe. This card enables users to spend crypto like fiat and often comes with bonus rewards for new signups. Bybit Pay complements this service by offering cashback and crypto payment options. The peer-to-peer marketplace is also worth mentioning in this ByBit Review, as it gives users direct access to fiat-to-crypto trading without high intermediary fees.
ByBit Fees and Costs
A detailed ByBit Review cannot ignore the fee structure, which is one of the strongest selling points of the platform. Bybit charges 0.1 percent maker and taker fees on spot trades for standard users, which is competitive with other leading exchanges. In derivatives, the fees are even more attractive: 0.01 percent for makers and 0.06 percent for takers. This makes Bybit a top choice for high-volume derivatives traders, as confirmed throughout this ByBit Review.
Options and P2P trading have separate fee structures. Options fees are capped relative to contract prices, while P2P taker trades are free and maker fees vary depending on currency and advertiser status. Deposits are free for crypto, and withdrawal fees are fixed per asset. VIP and Pro tiers reduce fees further, a key advantage for professionals seeking volume discounts.
ByBit Review – Security and the 2025 Hack
No ByBit Review is complete without covering security. In February 2025, Bybit experienced one of the largest hacks in crypto history. Around 400,000 ETH, valued at approximately 1.5 billion US dollars, was stolen during a cold-to-warm wallet transfer. The FBI later attributed the attack to the Lazarus Group, a North Korea-linked hacking collective.
Bybit responded by guaranteeing that user funds remained 1:1 backed and replenished reserves to cover losses. While this reassured users in the short term, this ByBit Review must stress that the hack significantly damaged the platform’s reputation. It serves as a stark reminder that centralised exchanges carry custody risk and should be used for trading rather than long-term storage.
ByBit Review – Strengths and Weaknesses
This ByBit Review highlights clear strengths. The exchange has some of the lowest fees in the industry, especially for derivatives. It offers a wide product suite that combines advanced trading tools with consumer-facing services like cards and cashback programs. Liquidity on major pairs is excellent, and the platform consistently innovates with copy trading, bots, and Earn products.
The weaknesses are equally important in this ByBit Review. The 2025 hack undermined trust. Regulatory restrictions mean Bybit is not available in every region, including the United States. The platform can be overwhelming for beginners, and yield products carry both market and counterparty risk. Delays in withdrawals during high-demand periods have also been reported.
ByBit Review – Comparison with Competitors
When comparing exchanges, this ByBit Review finds that Bybit competes most directly with Binance, OKX, and KuCoin. Binance offers broader listings and deeper fiat integration, but Bybit often provides lower derivatives fees and a simpler interface. OKX has positioned itself as a more regulated player with strong DeFi integration, while Bybit leans into derivatives and user-friendly automation. KuCoin lists more exotic tokens, but Bybit generally has better liquidity and a more professional trading environment.
ByBit Review – Promotions and Rewards
This ByBit Review also looks at promotional activity. Bybit frequently offers bonuses, such as $25 rewards for new Bybit Card users in Australia, or cashback up to 50 percent through Bybit Pay. Referral campaigns can generate rewards up to $500, and user milestone events sometimes feature prize pools worth tens of thousands of dollars. VIP and Pro users benefit from reduced fees and enhanced yields, further rewarding high-volume traders.
ByBit Review – Who Should Use It
In this ByBit Review, the ideal Bybit user is an experienced trader who values low-cost derivatives, deep liquidity, and automation. Active traders benefit the most from its VIP fee tiers and advanced tools. Newcomers may find the platform challenging, and those who prioritise security should limit their exchange balances and use private wallets for storage.
ByBit Review – Getting Started
Signing up with Bybit is straightforward. Users create an account, complete KYC verification, and then enable security features like two-factor authentication. This ByBit Review recommends starting with small deposits to test the system before scaling up. Spot trading provides the easiest entry point, while derivatives should only be used after developing sound risk management strategies. Yield products and promotions can be attractive, but users should read the terms carefully.
The overall conclusion of this ByBit Review is that Bybit remains one of the most compelling exchanges for active traders. Its low fees, strong derivatives offering, and innovative features make it a powerful choice. However, the massive 2025 hack casts a long shadow and reinforces the importance of using Bybit primarily for trading rather than storage. For users who understand the risks and manage their funds wisely, Bybit continues to deliver excellent value.