In this Bybit review, we will break down everything you need to know about this cryptocurrency trading platform. If you’re just starting in the crypto or a seasoned trader, finding the right platform is key. Bybit is one such platform, with its array of features, trading options, and a rapidly growing user base.
Keep reading as we’ll explore Bybit pros and cons, fees, and security measures, highlighting how Bybit stands out as one of the leading global crypto exchanges with a primary focus on futures contracts.
- Bybit is a cryptocurrency derivatives exchange that offers advanced crypto trading tools, high leverage, and a no-downtime commitment.
- Bybit has top-notch security features, such as cold storage, two-factor authentication, withdrawal address whitelisting, and anti-phishing codes.
- The exchange charges competitive trading fees, with a 0.1% maker-taker fee in the spot market, 0.02% for makers and 0.055% for takers in the derivatives market, and 0.02% for options trading.
- Bybit is available in over 200 countries but is restricted in certain regions, such as the United States and Canada, due to regulatory limitations.
|Cryptocurrency Derivatives Exchange Platform
|Dubai, United Arab Emirates
|Direct Fiat Deposits
|Crypto and 3rd party payment providers (P2P)
|Very High ($6 Billion per day)
|Up to 100x
|24/7 live chat and email support
|Products and Services
|Spot and derivatives trading, margin trading, copy trading, mining and staking, API support, etc.
|Multi-signature cold wallet, SSL communication, two-factor authentication
What is Bybit?
Bybit is a platform for crypto derivatives trading. It was started in March 2018 by Ben Zhou, who used to work as a forex broker. Bybit headquarter is in Dubai, United Arab Emirates. Bybit has more than 18 million users and trades over $6 billion every day.
Bybit lets you trade contracts and futures on crypto prices. You can trade Bitcoin, Ethereum, XRP, EOS, and more. Bybit also has spot trading, where you can buy and sell crypto at the market price. The exchange offers futures contracts up to 100x leverage, which means you can borrow money from the platform to trade more. Bybit is also one of the most popular margin trading platforms.
Bybit Exchange also has other services related to crypto. You can join new projects, earn rewards, and create and collect NFTs. It also has a Web3 DeFi wallet to connect to dApps. According to CoinMarketCap, Bybit has a trading volume of over $5.8 billion in the last 24 hours, ranking 6th among all spot exchanges. Bybit also has a liquidity score of 644, which indicates a high level of market depth and stability.
Bybit Review: Pros and Cons
- Leverage Trading: Bybit provides high-leverage options (up to 100x), allowing traders to amplify their positions. This can lead to higher potential profits if used wisely.
- Wide Range of Cryptocurrencies: Bybit offers over 860 cryptocurrency pairs for trading, beyond just Bitcoin and Ethereum. This gives crypto traders more options in altcoins and shitcoins.
- High-Security Measures: The platform has implemented two-factor authentication (2FA) and cold storage for cryptocurrencies to enhance the safety of user funds.
- Advanced Trading Features: ByBit offers advanced trading features like limit and market orders, stop-loss and take-profit orders, as well as trading indicators.
- High Liquidity and Volume: Bybit Exchange has relatively good liquidity and volume for popular trading pairs, ensuring that traders can enter and exit positions with ease. This also gives “zero price slippage” trading.
- Regulatory Concerns: The regulatory environment for cryptocurrency exchanges is evolving, and Bybit may face regulatory challenges in some regions. Currently, Bybit is not available in countries like the USA, mainland China, Singapore, etc.
- No Direct bank withdrawals: Bybit is a crypto-to-crypto exchange, meaning it does not support direct fiat-to-bank withdrawals. You must send your cryptocurrency elsewhere like Binance or Kraken to withdraw.
Want to try out ByBit trading? Create your account now, and use the promo code ‘64948’ for a chance to receive exclusive gifts and win $30,000 deposit rewards.
Bybit Security Review: Is Bybit Safe & Legit?
So, is Bybit legit? Well, Bybit is not a scam, but a legitimate platform that has high standards of trust, integrity, and security. It has various security features for users, such as human-computer authentication, two-factor authentication, hardware authentication, encrypted data transmission, device management, security notifications, and account activity alerts.
These are some of the security measures:
- Multi-Factor Safety: Bybit uses the best security solutions and strategies in the industry, such as multi-signature, TEE, TSS, and address whitelisting, to make sure its platform is reliable and resilient.
- Three Layers of Asset and Platform Security: It keeps user funds safely offline in cold wallets, away from online threats. The exchange also does regular Proof of Reserves audits and shows them to the public with transparency. There is also a Bybit insurance fund.
- Advanced-Data Protection: Bybit encrypts data when it is stored and when it is sent, using desensitized query interfaces. It also has strict authorization controls to make sure that only users can access their personal and private information.
- Real-Time Monitoring: Bybit’s risk controls watch and analyze user behavior in real-time. If something suspicious is found, withdrawals will need stronger authentication measures.
- Security by Design: Bybit’s system is security-first, built with a secure development life cycle, tough security testing, and ongoing bug bounty programs. Bybit works with security researchers to do stress tests and report security issues.
Bybit Trading Products and Markets Review
1. Spot Trading
Spot trading is the most straightforward way to trade cryptocurrencies. It involves buying or selling assets at the current market rate. This method is great for beginners and long-term investors who want to hold onto their digital assets.
Bybit offers spot trading for a wide range of cryptocurrencies, such as BTC, ETH, XRP, EOS, LTC, USDT, USDC, LINK, UNI, DOT, AAVE, SUSHI, ADA, DOGE, FIL, MATIC, SOL, XTZ, BCH, and more. You can trade these assets against USDT, BTC, or other cryptocurrencies.
The exchange provides two spot order types: limit orders and market orders. A limit order lets you specify the price at which you want to buy or sell a cryptocurrency, while a market order executes your trade at the best available market price. You can also set TP/SL for your orders.
2. Derivatives Trading
Derivatives trading allows leverage, enabling you to trade with more funds than you have. But remember, leverage can amplify your profits but also your losses. This is also called long/short position trading.
Bybit trading platform provides two types of derivatives: “futures and perpetual contracts”. Futures involve buying or selling cryptocurrencies at set future prices. Perpetual contracts have no expiration, tracking crypto spot prices.
Bybit offers trading for various coins, including BTCUSDT, ETHUSDT, XRPUSDT, EOSUSDT, LTCUSDT, LINKUSDT, etc., with up to 100x leverage. There is also a Bybit insurance fund to decrease the possibility of Auto-Deleveraging (ADL).
3. Margin Trading
Bybit lets you trade spot margin trading with your assets as collateral to borrow more money. You can trade up to 10x bigger than your balance on the spot market.
You can choose between two margin systems: “Isolated margin and Cross margin”. Isolated margin separates the money you put into a position from the rest of your balance. This means you can only lose the money you put into that position if it gets liquidated by the exchange.
Cross margin uses all of your balance to keep a position open. This means you can lose all of your money for that trading pair if it gets closed by the exchange. Bybit uses cross margin by default, but you can switch to isolated margin if you want.
Bybit has some key terms and concepts for margin traders, such as leverage, initial margin, maintenance margin, liquidation price, and funding rate.
- Leverage is the ratio of the money you borrow to the money you put in.
- Initial margin is the money you need to open a position.
- Maintenance margin is the minimum money you need to keep a position open.
- Liquidation price is the price at which the exchange will close your position if you don’t have enough maintenance margin.
- Funding rate is the periodic payment between long and short positions on perpetual contracts to make sure the contract price matches the spot price.
If you are doing trading on Binance, you can read our Binance Margin Trading Quiz answers.
4. Copy Trading
Bybit is one of the best copy trading platforms. Bybit lets users follow and copy the trades of skilled and successful traders on the Bybit platform. It is a feature that aims to offer a fair, transparent, and win-win trading experience for both “master traders and followers”.
Master traders are the ones who share their trading strategies and earn a profit share from their followers. They can become a principal trader if they are KOLs, influencers, expert traders, or have experience in leading others in copy trading. They can get various rewards, such as sharing up to 10% of the net profit earned by each of their followers, getting extra profit share during promotion periods, and being rewarded with up to 2,500 USDT for being selected as top principal traders weekly.
Followers are the ones who copy the trades of master traders automatically 24/7. They can select their preferred master traders based on their past performances such as PnL, ROI, etc., and set their trading preferences according to their risk tolerance.
Bybit copy trading supports both spot and derivatives markets, and various contract types, such as inverse perpetual contracts, USDT perpetual, inverse futures, and linear futures.
5. P2P Trading
P2P trading is a peer-to-peer platform that lets you buy and sell cryptocurrencies easily and securely with other users on the Bybit crypto exchange. You don’t need to pay any upfront fees on P2P transactions.
You can browse through a range of ads posted by trusted and verified advertisers or create your own ad to sell your coins. To buy/sell coins, you need to choose an ad with your preferred price and payment method, enter the amount you want to buy or sell and complete the payment according to the seller’s instructions. Once the seller confirms the payment, they will send the coins to your funding account or fiat currency to your bank account.
Bybit P2P trading supports over 50 fiat currencies, such as USD, EUR, GBP, and AUD, and more than 400 payment methods, such as bank transfers, PayPal, Google Pay, SEPA, and Apple Pay. You can select from a variety of payment methods based on your preferences and availability.
6. Automated Trading Bots
Bybit Trading Bots are software that trades crypto automatically for you. They follow the rules and strategies that you set. They don’t need your constant watch or control. You can choose the investment amount, the frequency, and the duration of the bots. The bots also stop investing when the price reaches your target or stop-loss level.
Bybit trading platform has four kinds of bots: Spot Grid Bot, DCA Bot, Futures Martingale, and Futures Grid Bot. Here is a quick summary of each one:
- Spot Grid Bot: This bot works well in a sideways market, where the price moves up and down in a range. The bot buys low and sells high, making a grid of orders that earn money from every price change.
- DCA Bot: This bot fits any market condition, whether it is rising or falling. The bot invests a fixed amount of money at regular times, no matter what the price is. This way, you can reduce your average cost and lower the effect of market swings.
- Futures Grid Bot: This bot is made for a leveraged trading market, where you can increase your profits by up to 100 times.
- Futures Martingale: The martingale strategy is a technique that involves doubling the trade size after each loss until a win occurs.
Bybit Bots are simple to use and flexible. You can make your own bot with a few clicks, or you can copy the best bots from other traders on the leaderboard. You can also check and control your bots anytime, anywhere, on your phone or web browser. Bybit also allows API connectivity for external bots like 3Commas and Cryptohopper.
Bystarter lets users join token sales of Web3 and Layer-2 projects on Bybit. It offers users a trusted and clear platform to access quality projects that Bybit has chosen and checked. Users can use USDT as collateral to join the token sales and get the tokens after the allocation period. The tokens have a vesting schedule, which means they will be unlocked over time.
Bybit Bystarter has four stages for each token sale:
- Warm-up Period: This is before the subscription period begins, where users can find out more about the project and its token details, and get ready for their USDT collateral.
- Subscription Period: This is when users can send their subscription requests for the token sale. Users can also change or cancel their subscription requests during this period.
- Allocation Period: Bybit randomly picks the winners of the token sale, using a lottery system. Each user has the same chance of being picked, no matter how much they subscribed. Users can see their allocated quota and claim their tokens during this period.
- Results Announcement: Bybit tells the final results of the token sale, including the total participants, the total investment amount, and the winning numbers.
Bybit Earn Products and Services Review
Bybit Savings lets you earn interest on your crypto. You can stake your crypto in a pool and get interest. You can pick Flexible Savings or Fixed Term Savings.
- Flexible Savings: You can deposit and withdraw your crypto anytime. You get a fixed APR that changes with the market. The interest is paid every day. You can also reinvest your interest to earn more. Flexible Savings is good for investors who want to keep their crypto liquid and flexible.
- Fixed Term Savings: You get a higher APR than Flexible Savings. But you have to lock your crypto for a set time. You can pick 7 days, 14 days, or 30 days. The interest is paid at the end of the term. You cannot withdraw or reinvest your crypto before the term ends. Fixed Term Savings is good for investors who want to get more returns and can commit their crypto for longer.
To start earning interest, just click on the “Stake Now” button and pick the amount and the plan you want to invest in. You can also see your investment history and earnings in the My Earnings tab. You can also read our guide on best staking wallets.
2. Liquidity Mining
Bybit Liquidity Mining lets you provide liquidity to different crypto and get rewards in bonus tokens and lower fees. You can use leverage to grow your pool share and yields or take out liquidity anytime.
It uses a new automated market maker (AMM) model, which uses a constant product formula to set the price of the assets in the pool. You can add liquidity by putting one token or two tokens into the matching pool. The system will balance the token amounts based on the current pool mix. Your liquidity depends on your liquidity mix and the index price of the derivatives contracts.
By providing liquidity, you can earn yield from trading fees. The yield is paid every day and paid out every 24 hours. The APR rate depends on the pool size, the trading volume, and your pool share. You can also earn bonus tokens as rewards for providing liquidity.
Bybit Lending lets you lend and borrow crypto on Bybit. You can make money by lending your extra or idle assets to others who need them. You can also get assets from the lending pool by giving collateral and paying interest.
It uses a smart risk management system to protect and control the lending process. You can see the live status of your loans and deposits, and the interest rates and terms of each asset. Bybit offers fair hourly interest rates that change based on market factors and demand and supply.
It allows you to take back your deposits anytime without penalty, or renew your loans with a simple click. You can also use the Bybit mobile app or web browser to lend and borrow anytime, anywhere.
4. Crypto Loans
Bybit Crypto Loans lets you use one crypto as collateral to borrow another. You can trade, invest, or withdraw the borrowed crypto. You can pick from many crypto options as collateral or loan currency, such as BTC, ETH, USDT, ADA, and more. You can also choose the loan duration that works for you, from 7 days to 90 days.
Here are some of the advantages and features of Bybit Crypto Loans:
- High LTV: You can get up to 100% of your collateral value as a loan. This means more funds for your crypto needs.
- Low Interest: You pay low hourly interest rates as low as 0.0002%. The interest is based on the loan rate when you borrow.
- Flexible Repayment: You can repay anytime before the due date with no extra fees. You only pay interest for the hours you borrow.
- Instant Borrowing and Redemption: You get your loan funds right away after applying. You can also change or reduce your collateral anytime. You can get back your collateral after repaying your loan.
- Risk Management: Bybit has a smart risk system that checks your LTV ratio and warns you when it is high. You can also set up auto-repayment to avoid liquidation.
Bybit Crypto Loans is a handy and trustworthy way to get more funds for your crypto trading or investment. You can also use it for advanced tactics such as crypto yield arbitrage, where you borrow crypto at a low interest rate and lend it at a high interest rate on another cryptocurrency exchange.
5. Dual Asset Investment
Bybit Dual Asset Investment lets you earn high returns by predicting crypto price movements. You can pick different token pairs, durations, and target prices. It is a non-principal protected product with floating returns. Your returns depend on the crypto price movement. You may lose some or all of your initial investment if the market goes against you.
You can invest either USDT or the chosen crypto asset. For example, if you pick BTC/USDT, you can invest either USDT or BTC. You can pick a target price that is either above or below the current price of the crypto asset. You can also pick a subscription period from 1 day to 5 days. The longer the period, the higher the APY.
Your returns are based on the settlement price and the target price. If the settlement price is at or below the target price for a buy low order, or at or above the target price for a sell high order, you will get your investment and interest in the chosen crypto asset.
You can use auto reinvest to re-subscribe to the same product automatically. This saves time and effort and gives you compound interest.
6. Bybit Card
It is a Mastercard debit card that connects to your Bybit account. You don’t need any extra crypto wallet or account to use it. You can cash out your crypto easily and safely. Your funds in your Funding Account will be used automatically when you pay with your card. If needed, your crypto will be changed to fiat money to cover the rest.
You can save money on fees and get more value. There are no yearly fees or hidden fees when you use the card. You earn points on every purchase that you can use for special offers, rewards, and more from Bybit and its partners. Bybit Card works at over 90 million Mastercard shops worldwide.
Note: Bybit Card is now only for users who live in countries in the EEA (except Croatia, Iceland, Ireland Liechtenstein, and Romania) or the UK.
Bybit Launchpad aims to offer users curated and high-quality new crypto projects that have strong legitimacy, scalability potential, and adaptable frameworks. It is the best way to invest in new tokens and coins. You can also subscribe to get updates on upcoming Launchpad events.
Launchpad lets you use MNT or USDT to buy new tokens before they are listed on Bybit and sell them for high profits right away. You can see the project details, such as the token amount, the lockup period, the supported tokens, and the investment limit.
Bybit NFT Marketplace
Bybit NFT Marketplace is a platform where you can buy, sell, and trade non-fungible tokens (NFTs) with creators, artists, and collectors worldwide. NFTs are unique digital assets that represent ownership of various items, such as art, music, games, sports, etc.
You can buy NFTs with any coin such as USDT, USDC, ETH, etc. You can also discover top NFTs and weekly Mystery Boxes on the platform. The NFTs are currently listed for a fixed price, but Bybit is looking to roll out bidding functionality very soon.
Bybit Rewards Program
Bybit Rewards Hub lets you earn crypto rewards by doing tasks and joining events. It also has trading competitions. Some of the rewards you can get are:
- Bonus: A bonus is a margin, fee, or loss cover that you can use for trading. You can’t withdraw bonuses, but you can withdraw the profits from them.
- Coupon: A coupon is a fee reduction that you can use for trading. You can’t withdraw or use coupons for anything else.
- Airdrop: An airdrop is a free token or coin that you can get. You can withdraw or trade airdrops as usual.
- Trading Voucher: A trading voucher is a cost reduction that you can use for spot trading. You can’t withdraw or use trading vouchers for anything else.
- VIP Trial Card: A VIP trial card is a VIP access that you can have for a certain time. You can enjoy benefits like lower fees, higher leverage, and exclusive service.
Bybit also has an affiliate program for influences in the crypto industry. You can earn up to 50% in commissions, plus extra bonuses, based on the trading costs generated by your referrals.
Bybit charges various fees for its products and services, such as trading fees, deposit and withdrawal fees, funding rates, etc.
Bybit charges various fees for its products and services, such as trading fees, deposit and withdrawal fees, funding rates, etc.
Bybit trading fees are the fees that Bybit charges for executing your trades on the platform. Bybit charges different fees for makers and takers on spot trading, derivatives trading, and options trading. You can also reduce fees with your high 30-day trading volume.
- Spot Trading: Bybit charges a flat fee of 0.1% for both makers and takers on spot markets.
- Perpetual & Futures Contracts Trading: Bybit charges a fee of 0.02% for maker and 0.055% for taker orders. Bybit leverage fees are similar to futures fees, with the same 0.02% maker fees and 0.055% taker fees.
- USDC Options Trading: Bybit charges a flat fee of 0.02% for both makers and takers on USDC options markets.
- P2P Trading: Bybit does not charge any fee on P2P trades.
- Funding Fees: These are real-time variable fees depending on the Interest Rate and Premium Index.
Here is a summary of the Bybit trading fees:
Note: The above fee is in a maker/taker structure.
Deposit and Withdrawal Fees
Bybit does not charge any deposit fees or withdrawal fees for any cryptocurrency. However, you may incur some network fees from your external wallet or exchange when sending funds to your Bybit wallet.
For fiat trading, Bybit charges no fees. However, you may pay fees to third-party payment providers or banks.
The Bybit platform charges three types of costs: spot fees, interest, and liquidation fees. Spot fees are charged when you buy or sell leveraged positions in the spot market. The spot fee on Bybit is 0.1% of the trade value.
Interest is another cost that you pay when you borrow funds. It is calculated every hour. You can repay the loan anytime and pay interest only for the hours you borrowed. Bybit liquidation fee is also variable and calculated in real time.
You can read about the full Bybit fee structure here.
Bybit Deposit and Withdrawal Methods
Bybit supports many payment methods for depositing crypto on the platform. Here is the list:
- Credit/Debit cards
- Google Pay
- Bank card (if issued by bank)
- Apple Pay
However, some payment methods may not be available in some countries due to regulatory restrictions.
To deposit and withdraw crypto on Bybit, you have two options: sending from another wallet or buying with fiat money. But, you will not find direct “bank transfer” withdrawals on Bybit. You need to use 3rd party payment providers like Banxa, Simplex, MoonPay, etc.
Bybit processes withdrawals instantly, but it may take up to one hour due to network congestion. There is no fee for withdrawals, but you have to pay a mining fee for each coin (as discussed above). There is also a minimum withdrawal amount for each coin. For some coins that need a withdrawal memo/tag, you need to enter it correctly when you withdraw. Otherwise, you may lose your funds.
Peer-to-peer (P2P) on Bybit offers over 80 different payment methods, like debit cards, credit cards, GPay, UPI, cash payments in person, and others. If you’re a P2P trader, you can use your fiat money to purchase or sell USDT. Right now, Bybit accepts nine different types of fiat currencies in P2P such as INR, VND, AUD, HKD, MYR, PHP, RUB, TWD, and UAH.
Bybit Web and Mobile App Review
The Bybit crypto exchange offers a web-based crypto derivatives trading platform that works on any device and browser. Bybit web platform has a smooth and user-friendly interface that lets you switch between different sections, such as spot, derivatives, options, earn, etc. You can also personalize your layout, theme, language, notifications, etc.
It also provides a Bybit mobile app that supports both iOS and Android devices. Bybit mobile app has a similar look and function as the web platform but with some extra features, such as biometric authentication, push notifications, gesture control, etc. You can also use QR codes to sign in or deposit funds.
Bybit Customer Support Review
Bybit provides 24/7 live chat support for its users, which allows them to contact the customer support team anytime and anywhere. This can be convenient and accessible for users who need immediate assistance or feedback. You can also contact them through e-mail: “firstname.lastname@example.org”.
Bybit also provides educational resources such as articles, videos, quizzes, etc., on topics related to crypto and trading.
Bybit Review: Alternatives and Comparison
In this Bybit review, we have seen that it offers a plethora of features, but many other alternative crypto exchanges also offer similar features, such as Binance, Kucoin, and MEXC. Here is the comparison:
|High Volume Traders
|Altcoin and Shitcoin Traders
|No (Except USDT (OMNI) fees is $5)
|Credit Card and Crypto
|Bank, Wire, Debit Card, and Crypto
|Credit/Debit Card and Crypto
|Apple Pay, Google Pay, 3rd party payment providers, and Crypto
|Earn and Staking
Is Bybit better than Binance?
Bybit and Binance are two of the most popular derivatives exchanges for trading digital assets. They have some differences like:
- Bybit does not need KYC verification for withdrawals up to 20K USDT per day, while Binance has mandatory KYC verification.
- Bybit has 860 cryptos and 1200 trading pairs for spot trading, whereas Binance supports 400 cryptos and over 600 trading pairs.
- Binance has more liquidity than Bybit, which means that it has more users and high trading volume.
- Binance offers leverage trading with up to 125x, while Bybit allows only 100x leverage.
Therefore, Bybit is better than Binance in terms of more supported coins including altcoins and No-KYC trading with high withdrawal limits.
Bybit Exchange Review: Conclusion
To sum up Bybit review, it is worth considering for your crypto trading due to various trading products, high security measures, multiple supported altcoins, and better customer support. You can easily open a trading account and start trading right away.
Bybit has some pros, such as low fees, high leverage, various order types, an insurance fund, trading competitions, and a mobile app. But Bybit also has some cons, such as no direct fiat support, no bank withdrawals, and US users are restricted from trading on the platform.
Therefore, Bybit Exchange is good for beginners and experienced traders who want a fast and reliable derivatives exchange. However, Bybit is not suitable for US citizens and investors due to unavailability and not being regulated by any major authority in the country. Hence, You should always do your own research and be careful when trading digital assets.
Where is Bybit located?
Bybit is headquartered in Dubai, United Arab Emirates. It has offices in many countries including Singapore, Hong Kong, and Taiwan.
Which countries are restricted from Bybit?
Bybit does not serve users from some countries where its services are illegal or banned. These include the United States, Canada, China, Iran, North Korea, Syria, Sudan, Cuba, Crimea, and more. You can check the full list of Bybit supported countries.
Can you Use Bybit in the US?
No, Bybit is not available in the United States. US citizens are not allowed to use Bybit because of regulatory limitations.
Can I use Bybit with VPN?
Yes, you can use Bybit with a VPN. But, you can only perform crypto-to-crypto trading and can not withdraw fiat currency. You should also be aware of the dangers and legal consequences of doing so. You may be breaking the rules of Bybit and the laws of your country.
Is Bybit good for beginners?
Yes, Bybit is a user-friendly platform that offers many crypto trading features and products, such as perpetual and futures contracts, options, and spot markets. For beginners, Bybit has many features such as Instant buy/sell, crypto-to-crypto convert with zero fees, and easy spot trading.
However, Bybit may not be suitable for beginners who do not know these trading concepts and strategies. Bybit also has a high leverage ratio of up to 100x, which can increase both profits and losses. Therefore, beginners should be careful and learn the basics of crypto trading.
Who owns Bybit?
Bybit is owned by Bybit Fintech Limited. The CEO and co-founder of Bybit is Ben Zhou, a former executive at XM, a forex trading platform.
Does Bybit require KYC?
No, Bybit does not require mandatory KYC (know your customer) verification for its users. You can sign up and start trading on Bybit with just an email address or a phone number. However, Bybit has the right to ask for KYC documents from its users at any time for compliance purposes.
Is Bybit Regulated?
No, Bybit is not regulated by any financial authority or government agency. This also means that users have less protection and recourse in case of disputes or issues with Bybit.