The verdict
Best for: Lowest feesChoose Bybit if…
- You trade spot often and want low fees (0.1% taker).
- You want an exchange that publishes proof-of-reserves.
- You trade derivatives, futures or with margin.
Skip it if…
- You're a US-based user — this exchange is not available in the US.
- You want heavy regulatory oversight above all else.
- You're a complete beginner — its derivatives focus suits more experienced traders.
Not financial advice. Opening an account through this link supports our testing at no cost to you.
How Bybit scores
How we scored Bybitshow the math ↓
Fees — 10.0/10 × 20%
- ·Spot taker fee of 0.1% is category-leading (≤0.10%).
- ·Low maker fee (0.1%) rewards limit orders.
Security — 6.0/10 × 25%
- ·Publishes proof-of-reserves (+2.5).
- ·Majority cold storage (+2).
- ·2FA / hardware-key support (+1.5).
- ·Third-party audits / bug bounty (+1.5).
- ·Suffered a fund hack but fully reimbursed users — still a mark against it (−1.5).
Regulation & Trust — 5.5/10 × 25%
- ·Licensed/registered in a recognised jurisdiction (+2.5).
- ·Transparent operating entity / HQ disclosed (+1.5).
- ·Operating 8 years (+1.5).
Assets & Features — 10.0/10 × 15%
- ·~600 assets — very broad (+5).
- ·9 product features (spot, derivatives, staking, etc.) (+5).
UX & Support — 10.0/10 × 15%
- ·Multiple fiat on-ramps — easy funding (+2).
- ·Consumer-grade products (card / app / Web3) (+2).
- ·Built-in earn/staking (+1).
- ·Full KYC — compliant onboarding (+1).
Scores come only from verifiable data and this published rubric — never from commissions. Full methodology →
Pros & cons
Pros
- Low 0.10% base spot fee and competitive derivatives fees
- Deep derivatives liquidity and advanced trading tools
- Frequent, independently verified proof-of-reserves
- Fully covered user funds after the Feb 2025 hack (no user losses)
Cons (the real ones)
- Suffered the largest exchange hack on record ($1.5B) in Feb 2025
- Not available to US users; regulatory access varies by country
- Lighter regulatory oversight than US/EU-licensed venues
- Derivatives focus can be risky for beginners
Fees
| Spot maker | 0.1% |
| Spot taker | 0.1% |
| Fiat on-ramps | credit/debit card, p2p, bank transfer, third-party providers |
Fees change often — verified August 2026. Always check the live schedule.
Security
- 2FA (TOTP/hardware key)
- cold storage
- proof-of-reserves (Merkle tree), independently verified by Hacken with 30+ consecutive reports
- Feb 2025 hack: ~$1.5B stolen (largest crypto theft on record, attributed to the Lazarus Group via a compromised signing interface); Bybit fully reimbursed users within days
Regulation & track record
Operates under a Dubai VARA licensing framework and other regional registrations. Not available to US users. Has received regulatory warnings in various markets (e.g. Japan FSA, and temporary restrictions in France and the UK).
Who should NOT use Bybit
- You're a US-based user — this exchange is not available in the US.
- You want heavy regulatory oversight above all else.
- You're a complete beginner — its derivatives focus suits more experienced traders.
How we make money from this review
Public affiliate/referral program offering a lifetime revenue share (commonly cited base ~30%, scaling toward ~50% for top affiliates) with USDT payouts; short attribution/cookie window. This never changes Bybit's score — our rubric is public and ranking follows score order, not commission. See our full disclosure.
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