Bybit Review 2025: Features, Pros & Cons, How to Trade, Deposit & Withdraw

Bybit is a leading cryptocurrency exchange that has grown in popularity due to its advanced derivatives trading platform, robust security, and seamless user experience. Since its launch in 2018, Bybit has positioned itself as a go-to platform for crypto traders seeking high-leverage trading and an intuitive interface. This guide explores everything you need to know about Bybit in 2025 — from its features and benefits to registration, trading, and potential alternatives.

What is Bybit?

Bybit is a centralized cryptocurrency exchange headquartered in Dubai, UAE, known primarily for derivatives trading, although it also supports spot trading, staking, earning programs, and NFT markets. Designed with both beginner and professional traders in mind, the platform offers:

• Up to 100x leverage on derivatives
• A wide range of crypto pairs
• An integrated copy trading feature
• A secure and user-friendly mobile and web interface

Bybit has over 20 million registered users across 160+ countries and continues to innovate its offerings to compete with other major players like Binance and KuCoin.

Pros of Bybit

• Advanced Trading Features: Includes leverage up to 100x, perpetual and futures contracts, copy trading, and options trading.
• User-Friendly Interface: Modern, intuitive interface ideal for both novice and seasoned traders.
• No KYC for Basic Usage: Non-KYC users can still deposit, trade, and withdraw up to a certain limit.
• Robust Security: Offers multi-signature cold wallets, 2FA, and real-time risk monitoring.
• Frequent Promotions: Bonuses for sign-ups, referrals, and deposit campaigns.
• Variety of Assets: Supports a wide range of cryptocurrencies across spot, derivatives, and earn programs.
• Educational Resources: Bybit Learn and webinars help traders build knowledge.

Cons of Bybit

• Limited Fiat On-Ramps: Only select currencies supported for fiat deposits and withdrawals.
• Regulatory Restrictions: Not available in some jurisdictions, including the United States.
• High Leverage Risks: The ability to use 100x leverage can result in rapid liquidations for inexperienced users.
• Withdrawal Fees: Crypto withdrawals incur network fees, which may be higher for certain coins.
• No Phone Support: Customer support is chat and email-based only.

Key Features of Bybit

1. Spot and Derivatives Trading

Bybit supports both spot and derivatives trading. Traders can choose from:

• Perpetual contracts
• Futures
• Inverse contracts
• USDT-margined contracts

2. Copy Trading

This feature allows users to follow and automatically copy professional traders, ideal for beginners seeking passive trading.

3. Bybit Earn

Earn interest on idle crypto assets through:

• Flexible savings
• Fixed-term staking
• Liquidity mining

4. NFT Marketplace

Buy, sell, and mint NFTs directly on Bybit’s platform, supporting top collections across various blockchains.

5. Mobile App

Available on iOS and Android, offering real-time price alerts, biometric login, and one-tap trading.

6. Security and Insurance Fund

Bybit employs cold wallet storage, two-factor authentication, and an insurance fund to cover unexpected losses.

How to Open an Account at Bybit

Opening a Bybit account is fast and straightforward:

1. Visit the Website: Go to www.bybit.com
2. Click “Sign Up”: Top right corner of the homepage
3. Enter Details: Provide your email or phone number and set a password
4. Verification Code: A 6-digit code is sent to your email/phone
5. Create Account: Once verified, your account is live

No KYC is required to start trading or deposit, but higher limits and fiat features require verification.

Bybit Registration and KYC Process

Why KYC Matters

To comply with global regulations and access full platform features, users need to complete KYC.

KYC Tiers

• Level 0 (No KYC): Deposit, trade, and withdraw up to 20,000 USDT daily
• Level 1 (Basic Verification): Up to 1 million USDT withdrawal limit
• Level 2 (Advanced): Increased limits and fiat features

KYC Steps

1. Go to Account Settings > Identity Verification
2. Submit government-issued ID (passport, driver’s license)
3. Complete facial recognition via webcam or mobile camera
4. Verification usually completes within 1–3 hours

How to Deposit Funds at Bybit

Bybit supports both crypto and fiat deposits:

Crypto Deposits

1. Navigate to Assets > Deposit
2. Select the coin (e.g., BTC, ETH)
3. Copy the wallet address or scan the QR code
4. Send funds from your external wallet

Note: Deposits require blockchain confirmations before funds appear.

Fiat Deposits

• Supported via third-party providers (e.g., Banxa, MoonPay)
• Available for EUR, USD, GBP, AUD, etc.
• Requires KYC verification

How to Trade on Bybit

Bybit offers an efficient trading engine and diverse order types:

Steps to Start Trading

1. Go to Trade > Spot or Derivatives
2. Select a trading pair (e.g., BTC/USDT)
3. Use Market, Limit, or Conditional Orders
4. Set leverage if using derivatives
5. Click Buy/Long or Sell/Short

Order Types

• Market Order: Instant execution
• Limit Order: Executed at set price
• Conditional Order: Executes when conditions are met
• Stop-Loss / Take-Profit: Risk management tools

How to Withdraw from Bybit

Withdrawing from Bybit is simple, but does require a few checks:

Steps:

1. Navigate to Assets > Withdraw
2. Choose the coin (e.g., BTC, ETH, USDT)
3. Enter recipient address and amount
4. Confirm with 2FA and email code

Withdrawal Notes

• Withdrawals are processed 3 times daily
• Fees vary based on the coin
• Ensure correct network selection to avoid loss

Bybit Alternatives

If Bybit isn’t suitable for your trading needs, here are some top alternatives:

1. Binance

• Largest exchange by volume
• Spot, futures, staking, and more
• Highly regulated and widely used

2. Kraken

• Great for fiat support and regulatory compliance
• Supports margin and futures trading
• Top-notch security

3. KuCoin

• Rich in altcoin offerings
• Copy trading and trading bots
• No KYC required for basic access

4. OKX

• Deep liquidity
• Web3 wallet and NFT integration
• Advanced derivatives tools

5. Bitget

• Emerging copy trading platform
• High leverage options
• Growing list of supported cryptos

Conclusion

Bybit is a feature-rich cryptocurrency exchange that balances professional trading tools with user accessibility. With an emphasis on derivatives, copy trading, and passive income tools, it serves as a robust platform for various trading styles. However, limited fiat integration and regulatory constraints may lead some users to consider alternatives like Binance or Kraken. For those looking for a secure, innovative, and user-friendly crypto trading experience, Bybit remains a top contender in 2025.

Frequently Asked Questions (FAQ)