Bybit Review

Bybit is a major cryptocurrency exchange with more than 80 million users. The platform is best known for derivatives trading, deep global markets and a large ecosystem that includes spot trading, futures, options, Copy Trading, trading bots, TradeGPT, Earn products and the Bybit Card.

There are now two versions that matter for this review:

• Bybit Global, available through bybit.com for users in supported countries outside the European Economic Area.
• Bybit EU, available through bybit.eu for users in the EU and EEA.

The two platforms use the same brand but are not interchangeable. They have different legal entities, apps, order books, fees, bonuses and product ranges. This Bybit review covers both platforms and clearly identifies which information applies to Global and which applies to EU users.

Bybit review summary

Bybit Global is one of the largest exchanges by trading volume and serves more than 80 million users. It provides the most complete version of the platform, including more than 600 cryptocurrencies, perpetual and expiry futures, options, Copy Trading, trading bots, TradeGPT and a broad Earn ecosystem.

Standard Global spot fees are 0.10% for makers and takers. Perpetual and futures fees start at 0.02% for makers and 0.055% for takers, while standard options fees start at 0.02% maker and 0.03% taker. Higher VIP levels receive lower rates.

European users are served through Bybit EU. This separate platform launched in July 2025 after Bybit EU GmbH received a MiCA licence from the Austrian Financial Market Authority. Bybit EU offers more than 140 cryptocurrencies, spot trading, spot margin with up to 10x leverage, Earn products, trading bots, demo trading and the Bybit Card.

Bybit EU has its own order books and liquidity. It does not provide the same standard futures and options range as Bybit Global. EEA residents should therefore not create an account expecting access to the complete Global derivatives platform.

Both versions are feature-rich, but neither is risk-free. On 21 February 2025, Bybit Global lost approximately $1.5 billion in Ethereum assets during a highly sophisticated attack involving the Safe Wallet signing process. Bybit covered the loss, kept withdrawals operational and no customer balances were lost, but the incident remains an important security warning.

What is Bybit?

Bybit was launched in 2018 and initially became popular as a derivatives exchange. It later developed into a broader platform for cryptocurrency trading, payments, automated strategies, Earn products and on-chain assets.

Bybit states that it now serves more than 80 million users and ranks among the largest exchanges worldwide by trading volume. The Global platform offers a particularly extensive selection of derivatives and advanced trading tools.

The company does not operate through one single legal entity worldwide. The entity and regulatory framework that apply to your account depend on your country of residence.

For example, Global services can be provided through the Bybit entity applicable to a particular jurisdiction. Bybit also holds regulated positions in several countries, including a Virtual Asset Platform Operator licence in the United Arab Emirates.

Within the European Economic Area, Bybit operates through Bybit EU GmbH. That company is based in Vienna and holds a MiCA licence from the Austrian FMA.

Bybit Global versus Bybit EU

The biggest mistake an international visitor can make is assuming that every feature advertised under the Bybit brand is available on every Bybit account.

The main differences are:

Feature	Bybit Global	Bybit EU
Website	bybit.com	bybit.eu
Intended users	Supported countries outside the EEA	EU and EEA residents
Main regulation	Depends on the user’s jurisdiction	MiCA licence from the Austrian FMA
Cryptocurrencies	More than 600	More than 140
Standard crypto spot fees	0.10% maker and taker	0.10% maker and up to 0.25% taker
Futures	Perpetual and expiry futures	Not available as a standard EU product
Options	Available	Not available as a standard EU product
Spot margin	Available	Up to 10x leverage
Copy Trading	Available	Not part of the standard EU offering
Trading bots	Broad Global range	DCA and Spot Grid tools
App	Bybit app	Separate Bybit EU app
Order books	Global liquidity	Separate European liquidity
Bonus	Changes by region and campaign	$50 USDC, 10% fee discount and Rewards Hub via our offer

Bybit has announced that access to certain Global services for EEA residents is being progressively limited. European residents should therefore use Bybit EU and should not try to bypass regional restrictions.

Is Bybit regulated?

The answer depends on which platform and jurisdiction you use.

Bybit Global regulation

Bybit Global operates through different entities depending on the country. It is not accurate to describe the complete international platform as having one universal licence that covers every user.

Bybit has expanded its regulated presence in several markets. It holds a Virtual Asset Platform Operator licence issued by the UAE Securities and Commodities Authority. Other regional entities may be registered or licensed separately.

A licence in one country does not automatically protect a user in every other country. Always check the legal entity shown in your account terms and verify whether your country is supported.

Bybit EU regulation

Bybit EU GmbH received its MiCA licence from the Austrian FMA in May 2025. The licence allows the company to provide regulated crypto services across the European Economic Area through European passporting.

The licensed services include custody, exchanging crypto for money, exchanging one cryptoasset for another and executing transfers for clients.

Bybit EU GmbH is based at:

Bybit EU GmbH Donau-City-Straße 7 1220 Vienna Austria

The company is registered under number FN 636180i.

A separate group company, Bybit Payments GmbH, received an Austrian e-money institution licence on 4 August 2026. This licence relates to payment and electronic money services and supports the group’s European payment infrastructure.

The MiCA licence and e-money licence belong to separate legal entities. Neither licence turns crypto held on an exchange into a protected bank deposit.

Migration from Bybit NL and SATOS to Bybit EU

Dutch users previously accessed Bybit through Bybit.nl in cooperation with SATOS. This construction ended when Bybit moved European users to its own MiCA-regulated entity.

Bybit.nl permanently closed on 30 September 2025 at 08:00 UTC. Accounts were linked to newly created or existing Bybit EU accounts. Users then had to complete identity verification on Bybit EU and initiate the asset transfer.

During the migration:

• Supported cryptoassets could be transferred to Bybit EU.
• Unsupported assets were converted to USDC without a conversion fee, using the closing price on 29 September 2025.
• EUR balances were converted to EURC.
• Eligible Bybit NL cards and reward points could be migrated.
• VIP status and referral relationships were not automatically transferred.

SATOS no longer manages or holds assets for the current Bybit EU platform. Dutch users now contract directly with the European Bybit entity.

The Bybit hack of February 2025

On 21 February 2025, Bybit suffered the largest cryptocurrency exchange hack recorded at the time. Approximately $1.5 billion in ETH and related Ethereum assets was removed from one of Bybit’s cold wallets.

The FBI attributed the theft to North Korean actors and referred to the activity as TraderTraitor. The group is commonly associated with the Lazarus cyber operation.

The attack did not result from a publicly identified vulnerability in the Safe smart contracts. The investigation found that a Safe Wallet developer machine had been compromised. A malicious transaction was disguised during a routine transfer, causing the signers to approve a transaction that changed the wallet logic and transferred the assets.

Bybit responded quickly:

• CEO Ben Zhou communicated publicly shortly after the incident.
• The exchange stated that customer assets remained backed one-to-one.
• Withdrawals and other platform services remained operational.
• Bybit covered the loss through its own resources and external liquidity.
• A recovery bounty programme was created to help trace and freeze stolen assets.
• Security processes and transaction approval procedures were reviewed.

The response demonstrated that Bybit was able to absorb an exceptionally large loss. It does not erase the seriousness of the incident. The hack showed that multisignature processes, third-party infrastructure and human transaction approval can remain vulnerable even when assets are stored in a cold wallet.

How to create a Bybit account

The registration process depends on your region.

1. Visit bybit.com if you live in a supported country outside the EEA, or bybit.eu if you live in the EU or EEA.
2. Register with an email address or telephone number.
3. Create a strong, unique password.
4. Complete the required identity verification.
5. Activate 2FA, a fund password, an anti-phishing code and withdrawal protection.
6. Deposit crypto or use an available fiat payment method.

Bybit uses identity verification to assess customer risk and comply with anti-money laundering rules. You may be asked for an identity document, proof of address, a tax identification number or information about the source of funds.

Global verification levels and withdrawal limits can vary. Bybit EU requires full verification under the European regulatory framework.

Bybit bonuses and Rewards Hub

The available bonus depends on whether you register with Bybit Global or Bybit EU.

Bybit EU bonus

European users who register through our Bybit offer currently receive:

• $50 in USDC after depositing at least $100.
• 10% off all trading fees for the first 30 days.
• Access to additional tasks and rewards through the Bybit EU Rewards Hub.

The Rewards Hub is personalised. The tasks shown can depend on your account, country and the campaigns active at that time.

Always check:

• Whether you must opt into a campaign before depositing.
• Which deposit methods qualify.
• The deadline for completing each task.
• Any required trading volume.
• How long funds must remain in the account.
• Whether the reward can be withdrawn or only used for trading.
• Whether the campaign is available in your country.

Bybit Global bonus

Bybit Global also uses a Rewards Hub with deposit, trading and product tasks. The available welcome packages vary by jurisdiction and campaign.

We do not state one fixed maximum Global bonus because the campaigns change frequently and are not available to every country. Check the reward page shown after registration for the conditions that apply to your account.

Depositing money and cryptocurrency

Funding Bybit Global

The Global platform supports crypto deposits and various local fiat methods. Depending on your country, you may be able to use:

• Cryptocurrency deposits from an external wallet.
• Credit or debit card purchases.
• P2P trading.
• Bank or payment provider options available in your region.

If you use a card or third-party payment provider to buy crypto, check the final exchange rate and provider fee before confirming the purchase.

Funding Bybit EU

Bybit EU offers euro deposits through a range of local and international payment methods. Depending on your country and verification, these can include:

• SEPA bank transfer.
• iDEAL for eligible Dutch users.
• PayPal.
• Visa and Mastercard.
• Apple Pay.
• Google Pay.
• Easy Bank Payment.
• Trustly.
• Other local providers.

Bybit EU may not charge a standard exchange deposit fee for every fiat deposit, but external payment providers can charge a fee. Card purchases can also have a separate processing charge.

A fiat deposit is different from a One Click Buy transaction. One Click Buy may combine payment fees with a conversion spread. Compare the amount paid with the amount of crypto received.

Bybit trading fees

Bybit distinguishes between makers and takers.

A maker order adds liquidity to the order book. This usually happens when a limit order is placed and is not executed immediately. A taker order fills an existing order and removes liquidity. Market orders are taker orders.

Bybit Global spot fees

Standard non-VIP fees for crypto-to-crypto spot pairs are:

• 0.10% maker.
• 0.10% taker.

For fiat crypto pairs, a non-VIP user with less than $100,000 in 30-day volume pays:

• 0.15% maker.
• 0.20% taker.

Separate rates apply to the Adventure Zone, xStocks and certain special markets. Fees decrease at higher VIP levels.

Bybit Global futures and options fees

Standard non-VIP rates are:

• Perpetual and futures: 0.02% maker and 0.055% taker.
• Options: 0.02% maker and 0.03% taker.

Perpetual positions can also involve funding payments. Funding is exchanged between long and short traders and is separate from the trading fee.

Bybit EU fees

For crypto pairs, a standard VIP 0 user currently pays:

• 0.10% maker.
• Up to 0.25% taker.

For fiat crypto pairs such as USDC/EUR, a standard VIP 0 user currently pays:

• 0.15% maker.
• Up to 0.25% taker.

These EU rates are the rates relevant before 5 October 2026 at 11:00 UTC. Bybit EU has published a revised model for the period after that date, but it is not used in this review yet.

Through our offer, eligible new EU users receive a 10% trading fee discount during their first 30 days.

Spot trading

Both Global and EU users can buy and sell assets on the spot market.

Spot trading means you directly exchange one asset for another. You do not use an expiring derivatives contract and there is no automatic leverage unless you activate margin trading.

Bybit provides:

• Market orders.
• Limit orders.
• Conditional orders.
• Take profit and stop loss functions.
• TradingView charts.
• Order books and recent trade data.
• Portfolio and order management tools.

The Global platform generally provides more markets and deeper liquidity. Bybit EU uses separate European order books, meaning that spreads and available depth can differ.

Margin trading

Both platforms offer margin trading, although the exact assets and leverage limits vary.

Bybit EU supports spot margin trading with up to 10x leverage. You use your own assets as collateral and borrow additional funds to increase the position size.

You can open:

• A long position when you expect the price to rise.
• A short position when you expect the price to fall.

With €100 and 10x leverage, you can theoretically obtain €1,000 in market exposure. This also means that a relatively small adverse price movement can remove most or all of your collateral.

Margin trading can include:

• The normal spot trading fee.
• Hourly borrowing interest.
• Automatic repayment costs.
• Liquidation fees if the collateral becomes insufficient.

Margin is intended for experienced users. It increases potential losses as well as potential gains.

Futures and derivatives on Bybit Global

Derivatives are one of the main reasons international traders choose Bybit Global.

The Global platform provides:

• USDT perpetual contracts.
• USDC perpetual contracts.
• Expiry futures.
• Options.
• Long and short positions.
• Leverage that can reach 100x on selected contracts.
• Cross, isolated and portfolio margin modes.
• Take profit, stop loss and trailing stop tools.

Perpetual contracts do not expire. A funding mechanism helps keep their price close to the underlying spot market. Depending on the funding rate, long traders may pay short traders or short traders may pay long traders.

Leverage creates a high liquidation risk. A trader can lose the complete margin allocated to a position within a short time.

Are futures available on Bybit EU?

Standard futures and options are not currently offered as part of the normal Bybit EU product range.

The old review stated that a MiFID II licence was expected in March 2026. That statement has been removed because no confirmed licence was found that currently enables standard retail futures and options on Bybit EU.

European users should not register expecting the same derivatives range as Bybit Global.

Copy Trading

Bybit Global offers Copy Trading, which allows users to automatically copy positions opened by selected traders.

You can compare traders using metrics such as:

• Historical profit and loss.
• Drawdown.
• Win rate.
• Assets under management.
• Number of followers.
• Trading frequency.
• Risk indicators.

Copy Trading does not remove risk. Historical returns can be affected by market conditions, leverage and changes in strategy. A profitable master trader can later generate significant losses.

Copy Trading is not part of the standard feature set described for Bybit EU.

Trading bots

Bybit offers automated trading tools. The Global platform has the broader selection, while Bybit EU provides selected spot automation features.

Available strategies can include:

• Spot Grid bots.
• Futures Grid bots on Global.
• DCA bots.
• Recurring Buy.
• Other automated strategies depending on the platform.

A DCA bot invests a fixed amount according to a schedule. It can help spread purchases across different prices.

A Grid bot automatically places buy and sell orders within a selected range. It can perform well during sideways price movements, but it can also accumulate losses when the market moves strongly outside the range.

Automated trading does not guarantee a profit. The strategy, price range and risk limits still need to be selected and monitored by the user.

TradeGPT and Bybit Alpha

Bybit Global includes TradeGPT, an AI-powered tool that displays market data, sentiment indicators and trading insights. It can also be accessed through supported integrations such as Telegram.

TradeGPT can help organise data, but its output should not be treated as investment advice or a guarantee that a trade will be profitable.

Bybit Global also provides Bybit Alpha, an account-based route to selected on-chain markets and tokenised assets. This replaced parts of the older wallet-based Web3 experience.

These Global features are not automatically available on Bybit EU.

Earn products

Both platforms provide products that can generate rewards, but the available assets and structures differ.

Bybit Global offers a broad Earn ecosystem that can include:

• Flexible Savings.
• Fixed-term products.
• On-Chain Earn.
• Dual Asset.
• Liquidity Mining.
• Launchpool.
• Structured products.

Bybit EU offers a more limited European range, including:

• Flexible reward products.
• Fixed-term reward products.
• On-Chain Earn.
• Launchpool.
• Temporary promotional campaigns.

Advertised annual percentage rates can change quickly. A high promotional rate may only apply to a small maximum balance or for a short period.

Earn products have risks that differ from ordinary spot trading. Read the specific product conditions and check whether the assets are locked, whether early redemption is possible and whether rewards can be reduced.

Bybit Card review

The Bybit Card is available in virtual and physical form in supported regions. Availability and fees depend on the entity that serves your country.

The European Bybit Card is a Mastercard debit card that can be used online, in stores and at cash machines. It supports Apple Pay, Google Pay and Samsung Pay.

The card can use the euro balance in your Funding Account. If the euro balance is insufficient, Bybit can automatically convert a selected cryptocurrency to complete the payment.

Bybit EU Card cashback

The European card currently offers:

• 1% cashback for standard non-VIP users without a monthly cap.
• 2% to 10% cashback for eligible VIP users, subject to monthly limits.
• Up to 100% cashback on selected subscriptions.
• No application fee or annual fee.
• €100 in free ATM withdrawals each month, after which a 2% fee applies.

A new European card user may also see a welcome package containing:

• A €10 card bonus after topping up at least 100 USDC or the equivalent.
• Up to 10% cashback during the first 30 days, capped at €110.
• Up to €50 in subscription cashback during the first month.

Eligible subscriptions can include services such as Netflix, ChatGPT, TradingView, Amazon Prime and Spotify. Conditions and merchant classifications apply.

Bybit EU Card costs

The card can involve:

• A 0.9% crypto conversion charge when crypto is converted to euros for a payment.
• A 0.5% foreign exchange charge on top of the Mastercard exchange rate for payments in another currency.
• A 2% ATM fee above the free monthly allowance.
• A replacement fee for a physical card.

Keeping sufficient euros in the Funding Account can help avoid crypto conversion costs.

The card is a useful payment product, but it should not be described as a bank account protected by a national deposit guarantee.

Demo trading

Bybit offers a demo environment where you can practise parts of the platform without immediately using real funds.

Demo trading is useful for:

• Learning how market and limit orders work.
• Testing take profit and stop loss settings.
• Understanding leverage and liquidation.
• Exploring the interface.
• Testing a bot configuration.

Results in a demo environment do not accurately reproduce every aspect of real trading. Liquidity, emotion, slippage and risk behaviour can differ when real money is involved.

Withdrawing money and crypto

Crypto withdrawal fees depend on the selected asset and network. The fee and minimum withdrawal amount are shown before confirmation.

Internal transfers between Bybit accounts can be free.

Fiat withdrawal options vary by region. On Bybit EU, methods can include SEPA and PayPal, depending on the user’s country and account.

The published EU rates include:

• SEPA withdrawal: 0.08% plus €5.50.
• PayPal withdrawal: 1.60%, capped at €10.

The fixed SEPA charge makes small withdrawals relatively expensive. A user should always check the current amount shown in the withdrawal screen.

Bybit app

Bybit Global and Bybit EU use separate apps.

The Global app provides the complete international ecosystem, including spot, derivatives, Copy Trading, bots, Earn and Global account functions.

The Bybit EU app provides:

• Spot trading.
• Spot margin.
• Fiat deposits and withdrawals.
• Earn products.
• Selected trading bots.
• The Bybit Card.
• Rewards Hub.
• Account security tools.

European users should download the specific Bybit EU app. Logging into the wrong application can cause confusion about unavailable products or the account environment.

Customer support

Bybit offers a Help Centre, support tickets and live chat.

The platform advertises 24/7 support, although the time required to reach a human agent can depend on the question and account status.

Complex issues can take longer, particularly:

• Identity verification.
• Source of funds checks.
• Account migration.
• Card disputes.
• Delayed deposits.
• Restricted withdrawals.
• Security investigations.

Always confirm that you are using an official bybit.com or bybit.eu domain. A legitimate employee should never ask for your password, 2FA code or the recovery phrase of a self-custody wallet.

Is Bybit reliable?

Bybit is a large and established exchange, but reliability should be assessed separately for Global and EU users.

Positive points

• More than 80 million users worldwide.
• Major global trading volumes.
• Regulated entities in several jurisdictions.
• A MiCA-regulated European platform.
• Proof-of-reserves reporting.
• 2FA, fund passwords, anti-phishing codes and withdrawal security.
• Customer balances remained backed after the 2025 hack.
• Withdrawals remained operational during the incident.
• Separate European infrastructure for EEA users.

Risks and disadvantages

• The February 2025 hack was exceptionally large.
• No exchange can guarantee complete protection against cyberattacks.
• The applicable legal entity depends on your location.
• EEA users do not receive the complete Global product range.
• Bybit EU has separate and potentially less deep liquidity.
• Futures, options and high leverage can cause rapid losses.
• Earn products introduce product and counterparty risks.
• Crypto balances are not ordinary bank deposits.

Bybit Global is a legitimate platform for users in supported jurisdictions who need advanced derivatives and trading tools. Bybit EU is a legitimate MiCA-regulated platform for European residents, but it has a smaller selection and fewer advanced products.

Conclusion of our Bybit review

Bybit is one of the most feature-rich cryptocurrency exchanges available. The Global platform combines more than 600 cryptocurrencies with spot trading, perpetual and expiry futures, options, Copy Trading, bots, TradeGPT, Earn products and a crypto debit card.

Standard Global spot fees are competitive at 0.10% for makers and takers. Standard futures fees start at 0.02% maker and 0.055% taker. The platform is particularly suitable for active and experienced traders.

Bybit EU provides a separate regulated alternative for European users. It offers more than 140 cryptocurrencies, spot trading, up to 10x spot margin, selected Earn products, trading bots and a strong Bybit Card. The current EU taker fee can reach 0.25%, while maker fees start at 0.10% for crypto pairs and 0.15% for fiat crypto pairs.

The Bybit Card is a genuine advantage, particularly for users who want to spend euros or crypto and earn cashback. Users should still consider conversion fees and card conditions.

The main concern remains the $1.5 billion hack of February 2025. Bybit’s response showed strong liquidity and crisis management, but the incident proves that even a major exchange can suffer a serious operational and supply-chain failure.

Our rating is 4.3 out of 5. Bybit Global is strongest for advanced derivatives traders outside the EEA. Bybit EU is a solid European platform for spot, margin, Earn and card users, but it should not be treated as a complete replacement for every Global feature.