Bybit
score
Fees: ~0.1%/0.1% spot, low derivatives fees
Bybit appeals to derivatives and active spot traders wanting low fees and a slick platform. The 2025 hack, though reimbursed, is a real reminder of custody risk. Not financial advice.
What Bybit Is
Bybit is a cryptocurrency exchange founded in 2018, best known for its derivatives markets and a fast, polished trading experience. It offers spot trading, perpetual and futures contracts and a steady stream of newer listings, wrapped in an app that active traders tend to like. Derivatives are its center of gravity.
How It Performs
Bybit scores 7.8 overall. Fees, liquidity and asset range all sit at 8.5: low trading costs, deep derivatives order books and a broad, frequently expanding catalog. UX scores 8 for its slick, responsive interface. The weak point is security and custody at 6.5 — the lowest in this comparison, and the number that most shapes our view.
Fees
Spot fees are roughly 0.1% maker and taker, and derivatives fees are notably low, which is a big part of why high-volume and leveraged traders favor the platform. Combined with deep liquidity, the cost profile is genuinely competitive for active trading.
The Big Caveat
In early 2025 Bybit suffered a hot-wallet hack of roughly $1.5B. Affected users were reimbursed, but the scale is a stark reminder of custody risk and is why security scores 6.5. Bybit is also unavailable in the U.S. and restricted in several markets, and its derivatives focus can nudge users toward high-risk leverage. It does publish proof-of-reserves.
Who It's For
Bybit is aimed at derivatives and active spot traders who want low fees, deep liquidity and a fast platform, and who are comfortable managing custody and leverage risk. Cautious or beginner users, and anyone in a restricted market, should think carefully first. This is not financial advice.
Overall 7.8 / 10 — the weighted average of the criteria above. How we score →
- + Deep derivatives liquidity and low trading fees
- + Fast, polished trading app popular with active traders
- + Broad asset range and frequent new listings
- + Publishes proof-of-reserves
- − Suffered a roughly $1.5B hot-wallet hack in early 2025 (reimbursed users)
- − Not available in the U.S. and restricted in several markets
- − Derivatives-heavy focus can encourage high-risk leverage
Is Bybit safe?
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Security is Bybit's weakest area, scored 6.5/10, partly because of a roughly $1.5B hot-wallet hack in early 2025. Affected users were reimbursed and the exchange publishes proof-of-reserves, but the incident is a real reminder to limit how much you keep on any exchange.
What are Bybit's fees?
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Spot trading is around 0.1% maker/taker and derivatives fees are low, which we reflect in a fees score of 8.5/10. That competitive pricing is a key draw for active traders.
Is Bybit available in the US?
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No — Bybit does not serve U.S. users and is restricted in several other markets. Check availability in your country before registering.
Is Bybit good for beginners?
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Its app is slick and easy to navigate (UX 8/10), but the platform leans heavily toward derivatives and leverage, which carry high risk. Beginners should be cautious and avoid leverage they don't understand.
What is Bybit best known for?
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Deep derivatives liquidity and low fees on a fast trading platform, along with frequent new listings and a broad asset range.