Overview
Bybit is one of the largest crypto exchanges in the world and one of the top platforms for derivatives (perpetual futures and options). It was founded in 2018 by Ben Zhou, who is still its CEO, and is headquartered in Dubai.
Bybit started as a derivatives exchange and built its reputation on a fast, stable matching engine that keeps working during the violent market moves when traders need it most. Since then it has added spot trading, copy trading, bots, savings products, a payment card and a Web3 wallet.
For European users the key fact is that Bybit runs a separate, regulated EU platform, Bybit EU, based in Vienna. It received its MiCA licence from Austria’s FMA in May 2025, which lets it serve users across the European Economic Area. Cryptensive’s link goes to Bybit EU.
Bybit global vs. Bybit EU
This difference matters because the two platforms do not offer the same products.
- Bybit (global) offers the full range: high-leverage perpetuals, options, many altcoins and promotions. It is not available to users in the US, UK or other restricted countries, and it has been limiting access for EEA users as Bybit EU took over.
- Bybit EU offers spot trading, conversions, savings and other services allowed under MiCA, with euro deposits and withdrawals (SEPA). Derivatives and some coins and promotions available on the global site are limited or not offered. In August 2026, Bybit’s Austrian payments company also received an e-money (EMI) licence, which supports regulated euro payments on Bybit EU. Bybit EU serves the EEA except Malta.
If you live in the EU, expect a smaller, more regulated version of Bybit, with stronger legal protection in return.
What you can do on Bybit
- Derivatives (global platform): USDT and USDC perpetuals, inverse contracts and options, with advanced order types and a unified trading account that uses one balance as margin for spot and derivatives.
- Spot trading: a large list of coins and pairs, plus a simple “Buy Crypto” and “Convert” flow.
- Copy trading: follow experienced traders and copy their trades automatically. Past results are no guarantee, and copying a high-leverage trader copies their risk too.
- Trading bots: grid, DCA and martingale bots, configured in a few taps.
- Bybit Earn: flexible and fixed savings, staking and structured products.
- Bybit Card: a debit card that spends your crypto balance (in supported regions).
- Launchpool and new listings: earn or access new tokens early (mainly on the global platform).
The app is fast and well designed, though the number of features can be a lot for a first-time user.
Fees
| Product | Regular user (maker / taker) | Notes |
|---|---|---|
| Spot | 0.10% / 0.10% | Lower with VIP tiers |
| Perpetuals and futures | 0.02% / 0.055% | Global platform |
| Options | 0.02% / 0.03% of underlying | Capped by option price |
Fees drop as your 30-day volume or asset balance grows. Funding fees on perpetual contracts are paid between traders every eight hours and can cost more than the trading fee if you hold a leveraged position for weeks. Withdrawal fees depend on the coin and network. Bybit EU publishes its own fee schedule, so check it directly.
These are the standard rates at the time of writing (October 2026).
Welcome bonus
Bybit is known for sign-up bonuses: rewards for completing verification, a first deposit or first trades. Read the conditions carefully. Bonuses are often trading credits that cannot be withdrawn directly, have deadlines, and require a certain trading volume. Never trade more than you planned just to unlock a bonus.
Security
The February 2025 hack
On 21 February 2025, Bybit suffered the largest hack in crypto history: about $1.5 billion in ETH was stolen from one of its Ethereum cold wallets. The FBI attributed the attack to North Korea’s Lazarus Group, which compromised the wallet software used to sign transactions rather than Bybit’s own systems.
Bybit’s response is a big part of why it kept its users’ trust:
- Ben Zhou went live on video within hours to explain what happened.
- Withdrawals kept working, and Bybit processed a huge wave of them without stopping.
- Within days it replaced the missing ETH through loans, partners and purchases and said reserves were back to 1:1.
- It offered a bounty of up to 10% for help recovering the stolen funds.
No user lost money, but the hack is a reminder that even the largest exchanges can be targeted.
Protection today
Bybit publishes Proof of Reserves reports, offers two-factor authentication, passkeys, withdrawal address whitelists and anti-phishing codes, and runs a risk-control system for unusual withdrawals. Turn all of these on.
Pros and cons
Pros
- One of the best derivatives platforms, with fast, reliable execution
- MiCA-licensed EU platform (Austria) with SEPA euro payments
- Copy trading and bots built in
- Competitive fees for active traders
- Handled the 2025 hack openly; users were fully covered
Cons
- Bybit EU offers fewer products than the global platform
- Leverage and copy trading make big losses easy
- Bonuses come with complex conditions
- Victim of the largest exchange hack ever (2025)
- Not available in the US or UK
Bybit vs. alternatives
| Bybit | Binance | OKX | Kraken | |
|---|---|---|---|---|
| Strength | Derivatives, execution | Liquidity, choice | Exchange + Web3 wallet | Security, regulation |
| Futures fees (base) | 0.02% / 0.055% | 0.02% / 0.05% | 0.02% / 0.05% | 0.02% / 0.05% |
| Copy trading | Yes | Yes | Yes | No |
| MiCA licence (EU) | Yes (Austria) | No | Yes (Malta) | Yes (Ireland) |
Our verdict
Bybit is one of the strongest choices for active traders, especially for derivatives on its global platform. Its execution is fast, its tools are rich, and its handling of the 2025 hack showed a company that can survive a worst-case event without users losing money.
For European users, Bybit EU is a solid, MiCA-licensed exchange for buying, selling and holding crypto in euros, but it is not the full Bybit experience. If what you want is high-leverage futures, know that this is also where most traders lose money.
This review is for information only and is not financial advice. Crypto is volatile and you can lose money.