Bybit in 2026: exchange overview, registration, buying crypto, and futures

Bybit is one of the world’s largest crypto exchanges (80+ million users, ranked among the top 2 by trading volume), founded in 2018 and registered in the British Virgin Islands, with headquarters in Dubai. It is strong in derivatives: perpetual futures with leverage up to 100x, options, margin trading, plus spot trading (~650 coins), P2P, copy trading, trading bots, Earn, and crypto loans. Fees are low: 0.1% on spot, 0.02%/0.055% maker/taker on futures; paying fees with the MNT token gives a discount of up to 25%. It has obtained an EU license (MiCA, Austrian regulator). Among its features are TradeGPT (an AI assistant), Bybit Card, tokenized stocks, and TradFi (CFDs on Apple, Tesla, gold with leverage up to 500x).

But there are dark chapters too: in February 2025, Bybit suffered the largest crypto hack in history (~$1.5 billion), and users have complained for years about sudden account freezes under the pretext of “checks,” with support remaining silent. In this article: registration, buying crypto with a card, spot and futures trading, security, AML, and an honest breakdown of the risks.

Disclaimer: This material is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies and especially leveraged derivatives is a high-risk activity, and you may lose your entire deposit. Terms, fees, and service availability change — check the latest information on the official Bybit website.

What to know about Bybit in 2026

• Founded in 2018, registered in the BVI, headquarters in Dubai (UAE)
• 80+ million users, among the world’s top 2 exchanges by volume
• Derivatives are its strong suit: futures/perps with leverage up to 100x, options, margin
• Spot — ~650 coins, 1300+ assets in total
• Low fees: spot 0.1%, futures maker 0.02% / taker 0.055%
• Fee discount when paying with the MNT (Mantle) token — up to 25%
• Features: TradeGPT (AI), copy trading, bots, Launchpool, Bybit Card, TradFi
• MiCA license (Austria) — legal operations in the EEA
• Security: cold storage, 2FA, Proof of Reserves, insurance fund
• February 2025 — the largest crypto hack in history (~$1.5 billion)
• User complaints — sudden account freezes and weak support
• Not available in the US, UK, Canada, Singapore, China, and others

Main point: Bybit is a “trader’s exchange.” If you need derivatives, copy trading, and advanced tools with a clean interface, it is one of the best options. But like any centralized exchange (CEX), it has its own risks, which we will discuss honestly.

What is Bybit

Bybit is a centralized cryptocurrency exchange (CEX) that first became known as a platform for derivatives trading (futures and perps), and later grew into a full-fledged ecosystem.

Brief history

• 2018 — founded (initially in Singapore)
• 2022 — headquarters moved to Dubai amid the development of crypto regulation in the UAE
• 2026 — 80+ million users, top-2 exchange in the world, operating in 160+ countries
• MiCA license through the Austrian regulator — legalization in the EEA

What Bybit offers

Today it is a “full-stack” exchange — everything in one account:

• Spot — ~650 coins
• Futures/perps — 350+ markets, leverage up to 100x
• Options and margin trading
• P2P — 60+ fiat currencies, 80+ payment methods
• Copy trading — copy the trades of successful traders
• Trading bots (Grid, DCA) + TradeGPT (AI assistant)
• Earn — staking and yield products
• Crypto loans backed by assets as collateral
• Launchpool / Launchpad — early access to new tokens
• Bybit Card, Bybit Pay, Web3 wallet
• TradFi — CFDs on stocks (Apple, Tesla, NVIDIA), indices, gold

Who is Bybit suitable for

✅ For active traders — derivatives, low fees, fast engine
✅ For beginners — clean interface, demo account, copy trading
✅ For altcoin enthusiasts — wide selection + Launchpad
✅ For those who want “everything in one place” — from spot to card and TradFi

Who it is NOT suitable for

❌ Residents of the US, UK, Canada and other restricted countries
❌ Anyone who wants fully non-custodial storage (it is an exchange, so it holds your keys)
❌ Anyone for whom a spotless reputation is critical (see the risks section)

Registration and KYC

Let’s go through the registration step by step.

Step 1: Create an account

1. Go to the official bybit.com website (check the URL — there is a lot of phishing!) or download the app from the App Store / Google Play
2. Click the orange Sign Up button
3. Register with email or phone number
4. Create a strong password
5. Confirm your email/phone number with a code

Step 2: Security setup

Immediately after registration:

• Enable 2FA through Google Authenticator (not just SMS!)
• Set up a fund password (a separate password for withdrawals)
• Set up an anti-phishing code — it will appear in emails from Bybit so you can distinguish genuine emails from phishing ones

Step 3: KYC verification

Without KYC you cannot trade, deposit or withdraw fiat, use P2P or the card. Verification is mandatory.

What is needed:

1. Document photo (passport, ID card, driver’s license, residence permit)
2. Live selfie (not a screenshot — the system checks “liveness”)

Time: usually a few minutes, sometimes up to 24 hours.

Important: documents from prohibited countries (the US, UK, etc.) are not accepted. Enter the details exactly as they appear in your passport.

Verification levels and limits

• Without verification — withdrawals up to $20,000 USDT per day (but spot/P2P trading is not allowed)
• Verified — withdrawal limits from $1 to $4 million per day (depending on the level)
• VIP levels — higher limits, lower fees

More details on how biometric verification works and why it is needed are in our article KYC and biometrics.

Buy crypto with a card

The easiest way for a beginner is One-Click Buy (one-click purchase).

How to buy crypto with a card (step by step)

1. In the app/on the website, click Buy Crypto → One-Click Buy
2. Select the currency (USD, EUR, etc.) and the amount
3. Select the cryptocurrency (USDT, BTC, ETH…)
4. Choose a payment method — bank card (Visa/Mastercard), Apple Pay, Google Pay
5. Check the final amount including the fee (it is shown before confirmation)
6. Confirm the payment — the crypto will be credited to your Funding Account

Important nuances of buying with a card

• Card payments are processed through third-party providers — the final fee and exchange rate are shown at checkout
• Fiat transaction fees: approximately 0.2%–3.99% depending on the method
• Credit is usually instant after the provider’s checks
• Method availability depends on the country

Tip: One-Click Buy is convenient, but it includes the provider’s spread. For larger amounts, P2P or deposit via SEPA followed by a spot purchase is more cost-effective — it’s cheaper that way.

SEPA deposits (for the EEA)

In Europe, euro deposits and withdrawals are available via SEPA (bank transfer). Funds are usually credited the same day or the next business day. For more about SEPA, see our guide.

P2P

P2P marketplace is often the most cost-effective way to deposit and withdraw, especially for hryvnia and other local currencies.

How P2P works on Bybit

1. Go to the P2P Trading section
2. Select Buy or Sell, the fiat currency, and the cryptocurrency (usually USDT)
3. Choose an offer from a suitable seller/buyer (check the exchange rate, limits, and reputation)
4. Pay using a convenient method (bank card, Wise, Revolut, etc. — 80+ methods)
5. Bybit holds the crypto in escrow until payment is confirmed
6. After confirmation, the crypto is credited to you

Pros of P2P

• Often 0% commission on many pairs (0.25% in some cases)
• 60+ fiat currencies, 80+ payment methods
• Escrow protection — Bybit acts as the guarantor of the deal
• Convenient for hryvnia and local payments

Be careful with P2P: check the counterparty’s rating, do not confirm receipt before the funds are actually credited, and beware of chargeback schemes. And remember: a false complaint from the counterparty can lead to a temporary freeze (see the risks section).

Spot trading

Spot is the buying/selling of actual crypto “here and now,” without leverage. The safest way for a beginner.

How to trade on spot

1. Transfer funds to Trading Account (from Funding via Transfer)
2. Open the Trade → Spot section
3. Select a trading pair (for example, BTC/USDT)
4. Choose the order type:
   • Market — executed immediately at the current price
   • Limit — at the price you set (lower fee — maker)
5. Enter the amount
6. Click Buy (green) or Sell (red)

Spot Trading Tips

• Use limit orders — they are cheaper (maker fee) and give you control over the price
• Set up Take Profit / Stop Loss to manage risk
• Practice on a demo account before using real money

Futures

Futures (perps) are Bybit’s core specialty. This is leveraged trading that lets you profit from both price increases (long) and declines (short). But the risks here are much higher.

First — a warning

Leveraged futures are a high-risk instrument. With 10x leverage, a 10% move against you will liquidate the position (loss of the entire collateral). Most beginners lose money on futures. Start small and only after practicing on demo.

How to trade futures (step by step)

1. Open Trade → Derivatives / Futures
2. Select a contract (for example, BTCUSDT Perpetual)
3. Choose the margin mode:
   • Cross — all available margin supports the position
   • Isolated — risk is limited to the specified amount (recommended for beginners)
4. Set leverage (start with 2-3x, not 100x!)
5. Choose a direction: Buy/Long (upside) or Sell/Short (downside)
6. Specify the position size and order type
7. Be sure to set Stop Loss and Take Profit
8. Open the position

Key concepts of futures

• Funding Rate — a periodic fee between longs and shorts (important when holding a position)
• Liquidation — forced closure due to insufficient margin
• Insurance Fund — the exchange’s insurance fund that covers negative balances
• Mark Price — the fair price used to calculate liquidations (protection against manipulation)

Isolated vs cross margin

Parameter	Isolated	Cross
Risk	Limited to the position collateral	Entire account balance
For whom	Beginners, for risk control	Experienced users, for flexibility

Advice for beginners: always use isolated margin and low leverage. This limits losses to a single position. Read about shorting in our guide on how to short (the mechanics are the same on Bybit).

Features

What makes Bybit stand out from competitors in 2026.

TradeGPT — AI assistant

An integrated AI assistant that analyzes the market, answers questions in plain language, and helps generate, test (backtest), and optimize trading strategies. A unique feature that most exchanges don’t have.

Copy trading

One of the best on the market. You can copy trades from successful traders with transparent performance statistics. Suitable for beginners who still don’t know how to trade on their own.

TradFi — traditional assets

Trading CFDs on stocks (Apple, Tesla, NVIDIA — 100+ companies), indices, forex, gold — all in USDT, with leverage up to 500x. Crypto and traditional markets in one account. (Unavailable in the EEA due to regulations.)

Tokenized stocks and IPO Express

Bybit was one of the first to provide access to tokenized stocks (xStocks) and tokenized IPOs — an opportunity to participate in initial offerings through crypto.

Bybit Card

A crypto card for spending directly from your exchange balance, with cashback, fraud monitoring, 2FA, and instant controls. Availability depends on the country.

Launchpool and Launchpad

Early access to new tokens: stake coins and receive new projects before they are listed — a classic way to profit from new launches.

Rewards and campaigns

Bybit actively runs trading tournaments, giveaways, sign-up bonuses, and a referral program — one of the most generous marketing programs in the industry.

Fees

A transparent fee structure is one of Bybit‘s advantages.

Trading fees

Market	Maker	Taker
Spot	0.1%	0.1%
Futures/perps	0.02%	0.055%

• Discount with MNT: paying the fee with Mantle (MNT) gives −25% on spot and −10% on futures
• VIP levels: the higher your 30-day volume, the lower your fees (down to 0% maker on perps for top VIPs)

Deposit/withdrawal fees

• Crypto deposits — free (network only)
• Crypto withdrawals — fixed network fee for each coin (shown at withdrawal)
• Fiat deposits — 0.2%–3.99% depending on the method
• P2P — often 0%, in some cases 0.25%
• Internal transfers between Bybit users — free

How to reduce fees: trade with limit orders (maker), increase your volume to reach VIP status, pay fees in MNT, and avoid the expensive One-Click Buy option for large amounts. For choosing a low-cost network to withdraw USDT — TRC20 vs ERC20 vs BEP20.

Security

Bybit invests in security, but it is a centralized exchange — it holds your funds.

Protection measures

• Cold storage of most assets
• 2FA (Google Authenticator, SMS)
• Anti-phishing code in emails
• Fund password for withdrawals
• IP whitelist and withdrawal address whitelist
• Proof of Reserves — monthly reserve verification
• Insurance Fund — insurance fund for derivatives

What the user should do

✅ Enable 2FA via an app (not just SMS — SIM-swap risk)
✅ Set a fund password and anti-phishing code
✅ Enable a withdrawal address whitelist
✅ Use a unique password
✅ Check the URL (phishing copies of Bybit are very common)
✅ Do not keep large amounts on the exchange for long — withdraw to a cold wallet

KYC AML

Bybit is required to comply with AML (anti-money laundering) and conducts monitoring.

What AML checks

• Sanctions screening — checking against sanctions lists
• Source of funds — the origin of large sums may be requested
• Transaction monitoring — analysis of transaction patterns
• Travel Rule — for transfers above ~$1000 (€1000 in the EU), sender/recipient data is transmitted

What may raise questions

Triggers that can lead to a document request or a freeze:

• Receipt of crypto with a “dirty” risk score (mixers, scams, stolen funds)
• Sharp increase in turnover
• Transactions related to sanctioned regions
• A counterparty complaint in P2P (even if mistaken)
• VPN/proxy use and logins from restricted countries

How to protect yourself

✅ Complete KYC honestly
✅ Buy crypto from clean sources (regulated exchanges, not dubious P2P)
✅ Keep a record of transactions (proof of source of funds)
✅ Do not use a VPN to bypass geo-restrictions

Detailed coverage of AML, freezes, and proof of source of funds — in the article how to legally withdraw a large sum.

Dark Pages

Let’s be honest — Bybit has serious dark pages you need to know about before trusting it with your money. This is part of E-E-A-T: a good review shows not only the positives.

The Largest Crypto Hack in History (February 2025)

In February 2025, Bybit suffered the largest hack in cryptocurrency history: attackers (allegedly the North Korean Lazarus group) stole about $1.5 billion in Ethereum from a cold wallet through a sophisticated attack on the transaction signing process.

How Bybit behaved toward users (important):

• The exchange remained solvent and did not halt withdrawals
• Compensated users’ losses by covering the shortfall with its own funds and those of partners
• Coordination with Circle, Tether, THORChain, and others made it possible to freeze part of the stolen funds (~$42.9 million + another ~$43 million via mETH)

That is, in this incident Bybit behaved relatively decently — users were not directly affected. But the very fact of the largest hack shows that even a top exchange can have catastrophic vulnerabilities.

“An ugly story”: freezing user accounts

And this is the very dark side of the attitude toward users that has been going on for years. Many clients have been complaining for years about sudden account freezes under the pretext of “compliance checks” or “suspicious activity” — without explanations, without timelines, and with support remaining silent.

Documented cases:

• An account with 14,000 USDT was frozen for more than 20 days; the funds were released only after public exposure and intervention by UAE regulators — and then the account was permanently closed
• A user with $11,000 learned that the reason for the freeze was an erroneous complaint from a P2P counterparty about a “scam”
• Accounts were frozen for 21 days with “zero communication” from the compliance team
• In May 2026, Bybit account freezes were named one of the year’s main user problems

Core of the complaint: as a centralized exchange, Bybit can unilaterally freeze your funds, citing a “review,” and at the same time fail to respond for months. Some users got their money back only after a public scandal or complaints to regulators.

Takeaway from this story: this is not a unique Bybit problem — almost any CEX can do this (similar complaints exist about Binance, OKX, and others). But it is a clear reminder of crypto’s main rule: “not your keys, not your crypto”. Do not keep more on an exchange than you are prepared to temporarily lose access to, and keep long-term savings in a cold wallet.

Bybit Ukraine

Specifically for our audience.

Does Bybit work in Ukraine

Yes, Bybit works for users from Ukraine — Ukrainian is even available in the interface. Many Ukrainians use the exchange for trading and P2P (depositing/withdrawing hryvnia).

Nuances:

• Restrictions apply to occupied territories of Ukraine
• The list of prohibited countries and conditions changes — check the current status before registering
• If you have moved to the EU, take into account the MiCA rules (Travel Rule, residency verification)

How can a Ukrainian deposit/withdraw

• P2P — the most convenient method for hryvnia (cards of Ukrainian banks)
• One-Click Buy by card (including provider fees)
• Crypto deposit from wallet

Comparison

How Bybit stacks up against its competitors in 2026.

Parameter	Bybit	Binance	KuCoin
Spot fee	0.1%	0.1% (lower with BNB)	0.1%
Futures (maker/taker)	0.02%/0.055%	0.02%/0.05%	competitive
Derivatives	Strong	Deepest liquidity	Good
Coin selection	~650	600+ (depth)	Lots of alts
Copy trading	🥇 Excellent	Available	Available
AI (TradeGPT)	✅ Unique	❌	❌
Interface	Cleaner, trader-first	Overloaded with features	Average
For Ukraine	✅ Works	✅ Works	✅ Works
Reputation	2025 hack, freezes	Its own history	Smaller scale

Brief conclusion

• Bybit — for traders who value derivatives, copy trading, and a clean interface
• Binance — for maximum liquidity and market depth
• KuCoin — for hunting altcoins (see our KuCoin review)

Many traders use multiple exchanges for different purposes. This is normal and reduces the risk of relying on a single platform.

Risks

An honest summary of the risks of Bybit (and any CEX).

• Custodial risk — the exchange holds your keys; it can freeze your account
• Hacking risk — even top exchanges are vulnerable (a 2025 hack for $1.5 billion)
• Regulatory risk — restrictions in different countries, rule changes
• Liquidation risk — with leveraged futures, it is easy to lose your deposit
• Geo risk — access may be restricted from your jurisdiction
• P2P risks — fraud, chargebacks, false complaints

How to minimize

✅ Do not keep large amounts on an exchange for long — withdraw to a cold wallet
✅ Enable all available security features (2FA, whitelist, fund password)
✅ For futures — low leverage, isolated margin, Stop Loss
✅ Buy crypto from clean sources (protection against AML freezes)
✅ Diversify across several platforms

Golden rule: an exchange is a tool for trading, not for storage. If you trade, use an exchange; if you store assets, use a cold wallet.

Frequently Asked Questions FAQ

What is Bybit and is it safe?

Bybit is one of the world’s largest crypto exchanges (80+ million users), founded in 2018 and headquartered in Dubai. It specializes in derivatives, but offers a full suite: spot, futures, options, P2P, copy trading, Earn, and a card. For security, it uses cold storage, 2FA, Proof of Reserves, and an insurance fund. But it is a centralized exchange: in February 2025 it suffered the largest crypto hack in history ($1.5 billion, users were compensated), and customers complain about sudden account freezes. Safe for trading, but not for long-term storage of large sums.

How do I register on Bybit?

Go to bybit.com or download the app, click Sign Up, register with email or phone, create a password, and verify your account. Enable 2FA, fund password, and anti-phishing code right away. Then complete KYC — upload a photo of your document (passport/ID) and a live selfie. Verification takes from a few minutes to 24 hours. Without KYC, you cannot trade, deposit/withdraw fiat, or use P2P.

How do I buy cryptocurrency on Bybit with a card?

Use One-Click Buy: click Buy Crypto, choose the currency and amount, the cryptocurrency (USDT, BTC, etc.), and the payment method — bank card, Apple Pay, or Google Pay. Check the final fee (shown before confirmation) and pay. The crypto will be credited to your Funding Account. Payment is processed through third-party providers, and the fiat transaction fee is 0.2%–3.99%. For larger amounts, P2P or a SEPA deposit followed by spot buying is more cost-effective.

What are the fees on Bybit?

Spot — 0.1% maker/taker. Futures — 0.02% maker / 0.055% taker. Paying fees with the MNT token gives a 25% discount on spot and 10% on futures. VIP levels reduce fees for higher volumes. Crypto deposits are free, withdrawals have a fixed network fee. Fiat deposits cost 0.2%–3.99%, P2P is often 0%. Internal transfers between Bybit users are free.

How do I trade futures on Bybit?

Open Trade → Futures, choose a contract (for example, BTCUSDT Perpetual), select the margin mode (for beginners — isolated), set leverage (start with 2-3x), choose Long or Short, position size, and always set a Stop Loss / Take Profit. Warning: leveraged futures are extremely risky — with 10x leverage, a 10% move against you will liquidate the position. Most beginners lose money on futures. Practice on a demo account.

Does Bybit work in Ukraine?

Yes, Bybit works for users from Ukraine, and the Ukrainian language is available in the interface. Ukrainians use the exchange for trading and P2P (depositing/withdrawing hryvnia through Ukrainian bank cards). Restrictions apply to occupied territories. The list of prohibited countries and conditions changes — check the current status. If you have moved to the EU, take MiCA rules into account (Travel Rule, residency verification).

What was the Bybit hack in 2025?

In February 2025, Bybit suffered the largest crypto hack in history: about $1.5 billion in Ethereum was stolen from a cold wallet (reportedly by the Lazarus group from North Korea) through an attack on the transaction-signing process. Important: Bybit remained solvent, did not halt withdrawals, and compensated users for losses from its own funds and those of partners. Some of the stolen assets were frozen. In this incident, the exchange acted decently, but the hack shows the risks even top-tier platforms face.

Why does Bybit freeze accounts?

Bybit, like other centralized exchanges, may freeze an account under the pretext of “compliance checks” or “suspicious activity.” Triggers include: receiving crypto with a poor risk score, a sudden increase in turnover, transactions involving sanctioned regions, a counterparty complaint in P2P (even if mistaken), and VPN use. The problem is that users have been complaining for years about freezes without explanations and support silence — sometimes money was returned only after public exposure. To reduce the risk: complete KYC honestly, buy crypto from clean sources, and do not keep large sums on the exchange.

Bybit or Binance — which is better?

It depends on your goals. Binance is for maximum liquidity, market depth, a wider selection, and BNB discounts. Bybit is for traders who value derivatives, better copy trading, the TradeGPT AI assistant, and a cleaner interface. Fees are similar. Both operate in Ukraine, and both have their own reputational histories. Many traders use both platforms for different purposes.

Can a Ukrainian pass KYC on Bybit?

Yes. You need a biometric international passport, ID card, driver’s license, or residence permit + a live selfie. Verification takes from a few minutes to 24 hours. Ukraine is not on the list of fully prohibited countries (occupied territories are restricted). Enter your details exactly as they appear on the document, and take a high-quality photo without glare.

Is it safe to store crypto on Bybit?

For short-term trading — acceptable (cold storage, insurance fund, Proof of Reserves). But for long-term storage of large sums — not recommended. Reasons: custodial risk (the exchange controls the keys and can freeze the account), hack risk (even top exchanges get hacked), and regulatory restrictions. Golden rule: trade on the exchange, store on a cold wallet (Ledger, Trezor, Trust Wallet, MetaMask).

What is TradeGPT on Bybit?

TradeGPT is Bybit’s built-in AI assistant that analyzes the market, answers questions in simple language, and helps generate, test (backtest), and optimize trading strategies based on specified parameters. It is one of Bybit’s unique features, not available on most competitors. It is useful for beginners learning the ropes and for experienced traders quickly checking ideas.

What is the minimum to start on Bybit?

There is no hard minimum for registration. For One-Click Buy, the minimum purchase amount depends on the currency and method (usually from a few dollars). On P2P, the minimum is set by the seller’s ad. For spot trading, you can start with small amounts. On futures, you can formally start with a small deposit, but because of leverage risks, it is better to begin with minimal positions and on a demo account.

Conclusion

Bybit in 2026 is a powerful “exchange for traders”, especially strong in derivatives, copy trading, and advanced tools like TradeGPT and TradFi. Low fees, a clean interface, 80+ million users, and a MiCA license make it one of the market leaders. But an honest review must also show the downside.

Key takeaways:

Strong in derivatives — futures, options, leverage up to 100x
Low fees — spot 0.1%, perps 0.02%/0.055%, discounts with MNT
Unique features — TradeGPT, copy trading, TradFi, tokenized stocks
Convenient deposits — card, SEPA, P2P (60+ currencies)
Works in Ukraine (except occupied territories)
2025 hack — the largest in history ($1.5 billion), but users were compensated
Account freezes — a long-standing complaint about how users are treated
Custodial risk — do not store large sums for long

Who Bybit is for:

1. Active traders — derivatives, low fees, tools
2. Beginners — copy trading, demo, clean interface
3. Altcoin enthusiasts — wide selection + Launchpad
4. Ukrainians — a working platform with P2P for hryvnia

The main rule when working with any exchange: use it as a trading tool, not as a safe. Enable all protection measures (2FA, whitelist, fund password), do not keep more on the exchange than you are prepared to temporarily lose, and store long-term savings on a cold wallet. Then Bybit will serve you as a convenient and functional trading terminal — while CEX risks remain under control.

Also check out our materials: how to buy Bitcoin in Ukraine, how to trade on an exchange, how to short, KuCoin review, and TOP 10 crypto wallets.