Bybit Review 2024
Minimum
deposit:
  • 1$

Trading platform:

  • Proprietary platform
  • TradingView

Bybit Review 2024

Updated: March 26, 2024
Updated: March 26, 2024
Your capital is at risk.

9.8

/

10

TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum
deposit:
  • 1$

Trading platform:

  • Proprietary platform
  • TradingView
Trading features:
  • Derivatives trading, copy trading

Summary of Bybit Crypto Exchange

The Best Cryptocurrency Exchange

Bybit is one of the top cryptocurrency exchanges in the financial market with the TU Overall Score of 9.8 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bybit clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company. Bybit ranks 2 among 170 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.

Bybit is an exchange for those who have mastered classic cryptocurrency platforms and are ready to move on to more complex derivatives. The arsenal of Bybit Wallet is still limited but the developers plan to expand it by adding BCH, ADA, DOT, and other altcoins.

The Bybit cryptocurrency exchange first appeared in 2018. It is a standalone derivatives trading platform with inverse and perpetual futures contracts with up to 1:200 leverage. Quarterly USD futures are available at Bybit in combination with BTC, ETH, XRP, EOS, LTC, and multiple tokens. There is a linear futures contract on BTC/USDT. The exchange has several technological advantages: it provides for mutual insurance of market participants against possible sharp price movements. There are offsets for long and short positions, and there is market depth. Bybit Verification Guide

💰 Account currency: Cryptocurrencies
🚀 Minimum deposit: From USD 1
⚖️ Leverage: Up to 1:100
💱 Spread: From USD 1
🔧 Instruments: BTC/USD, ETH/USD, XRP/USD, EOS/USD and BTC/USDT, USDT pairs — ETH/USDT, LINK/USDT, LTC/USDT, XTZ/USDT
💹 Margin Call / Stop Out: No

👍 Advantages of trading with Bybit:

  • It has a convenient, intuitive proprietary trading platform that is presented in the browser version, which eliminates conflicts with the operating system and braking when sending orders;
  • Integration with TradingView allows users to simplify crypto market analysis and trading via a single platform;
  • Combination of futures and perpetual contracts trading;
  • There is an order book that allows you to assess the depth of the market and current trading volumes;
  • It has a minimum entry threshold. The cost of a BTC/USD futures contract is USD 1;
  • It is possible to open long and short positions with subsequent mutual recalculation.

👎 Disadvantages of Bybit:

  • It has conditions for trading futures that are difficult for beginners, such as the formula for calculating the leverage, the terminology of the funding size and the premium index, funding rates, etc.;
  • Lacks a mechanism to protect the interests of traders in the event of controversial issues;
  • The mechanism of classic cryptocurrency trading is almost undeveloped. Only USDT, ВТС, and ЕТН are available for purchase.

Evaluation of the most influential parameters of Bybit

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

9.31

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

4.28

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

9.41

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

9.62

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

7.52

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

8.09

/10

Trade with this broker, if:

  • You seek a combination of futures and perpetual contracts trading, as this broker specifically offers a mix of these two types of trading assets.
  • You value transparency and market depth as with an order book available. With this broker, you can assess the depth of the market and current trading volumes. This transparency allows you to make informed trading decisions based on real-time market data, enhancing your trading experience.
  • You prefer a low entry threshold, as this broker has a minimum entry threshold, with the cost of a BTC/USD futures contract set at USD 1. This low barrier to entry makes trading accessible to a wider range of traders, including those with limited capital.

Do not trade with this broker, if:

  • You prioritize having a mechanism in place to address and resolve disputes or controversial issues that may arise during trading, as this broker does not specifically have one in place.
  • You are looking for a broker that offers a wide range of cryptocurrencies for direct purchase and trading. With only USDT, BTC, and ETH available for purchase, the selection of cryptocurrencies for classic trading is limited.

NOTE!

Do not miss a chance to get additional monthly bonuses and payouts for trading at Bybit cryptocurrency exchange.

Login preview

Enter the referral code when you register on the website or Bybit app.

11989

Login preview

Get up to 30 USDT in rewards just by signing up!

Your capital is at risk.

*TU may receive partnership reward for registration of the client on the company’s website on a referral link.

Geographic Distribution of Bybit Traders

Popularity in

18.3%
JP
Japan
11.5%
US
United States
7.6%
DE
Germany
5.9%
KR
Korea, Republic of
4%
AU
Australia
3.1%
IN
India
2.8%
CA
Canada
2.5%
VE
Venezuela
2.3%
AR
Argentina
32%
Others
Others

Video Review of Bybit i

Bybit Latest Comments for 2023 i

291 comments
Total score:
8.4 /10

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Pro Serrano Hunte
Social link Verified
Location TT Claxton Bay
Dignity

There are also useful tools you can use to see what will happen if a trade goes your way or against you.

Shortcomings

Everything is legit

Guys, it is normal to see trading as a game of chance. Nonetheless, iif you can learn how to use analyze financial markets using tools like line charts, indicators, and other trading tools, you will minimize the rate at which you lose out on profitable trades when you trade with real money. When you register on a platform like Bybit, get familiar with the various trading tools available and how to use them.

There are also useful tools you can use to see what will happen if a trade goes your way or against you. Just like the one tool I use daily before I open a trade position which is the pre order calculator. I use this tool to calculate and know the possible profit and loss and ROI if I open trade with any strategy I created

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risham

At first I doubted whether to work with Bybit. The conditions here are favorable, but I was still afraid to work with the company I knew nothing about. But I decided to try with small amounts and realized that the broker works well. The money was withdrawn quickly and the fee was minimal, so I stopped being afraid. I’ve been a grateful client of this company for six months now!

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adamadji

I was looking for a reliable exchange and paid attention to Bybit, which has long been on the market and has a good reputation. My friend, who has been trading on Bybit for many years, also recommended this company. Now, after a few years I consider myself a more experienced trader and I am sure that I chose the right one. I am pleased with Bybit’s work, although the income is not too high, but stable. Withdrawals are very fast, but everything depends on the chosen payment system.

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beatricewc3

I have never had any problems with this company. I will even say that this is the best thing that I have seen in the last year. They try to please everyone. I can only praise.

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cleokg69

I can't really say anything bad about ByBit. I trade cryptocurrencies here. and another company. Regarding the withdrawal of money, everything is fine here, but trading is sometimes lame)

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paulare16

I think that ByBit is one of the best exchanges in the crypto market. I have been trading with them for a very long time. From the moment I came to them, they have grown a lot. I keep BIT, I have high hopes for it no matter what. I advise everyone to trade here, as this is the quality.

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Kulakrowl

I registered here because I was interested in couples with a dollar. There is a good choice here. In general, it is clear that the company is ahead of the rest. This is noticeable both in terms of conditions and in terms of the quality of service. Not so long ago NFT was added. Now I am studying.

Expert Review of Bybit

Bybit is a relatively young and small cryptocurrency exchange that has relied on a little-known and comprehensible product—cryptocurrency derivatives. And it does a great job of competing with larger sites.

The secret of Bybit's success is simplicity and technology. At first glance, the trading rules seem confusing, but in fact, it is enough to understand the terminology here and everything will immediately fall into place.

The Bybit trading platform is proprietary with elements of technical and graphical TradingView analysis. The minimum deposit in the crypto exchange starts from 1 US dollar. There are too few trading assets, only four main ones. But they are presented in several variations—inverse, perpetual, and inverse perpetual. The difference between them is in the expiration date and the model of pegging to the spot price of the asset. Its mutual insurance is formed from the profits of the participants in the model, which is based on the principle of the "American option".

In the event of a sharp drop in quotations, the loss or part of the loss is reimbursed. US customers can study the ByBit USA Review. UK customers can study the ByBit UK Review. South African customers can check out ByBit South Africa.

Bybit is gradually expanding the arsenal of tools and technological capabilities of the platform. Since its inception, the exchange has responsibly fulfilled its obligations. The crypto exchange is suitable for both a professional traders and a beginners. And here it is worth noting that the support service resolves most issues quickly and correctly as possible. This is confirmed by customer reviews. Bybit has been a partner of Traders Union for more than a year and is included in the TU’s rating of the best cryptocurrency platforms.

How To Delete My Bybit Account

Anton Kharitonov

Anton Kharitonov

Financial expert and analyst at Traders Union

Latest Bybit News

26.03.2024
​Cryptocurrency exchange Bybit has launched Smart Leverage, which will allow users to potentially maximize profits in volatile markets and provide
27.02.2024
​Cryptocurrency exchange Bybit highlights optimistic growth forecasts for the value of ETH following the Dencun upgrade on the Ethereum
05.02.2024
​Bybit announced that it has taken the top spot in CoinGecko's trust rating, confirming the cryptocurrency exchange's unwavering commitment to providing
01.02.2024
​Cryptocurrency exchange Bybit has applied to the Securities and Futures Commission (SFC) for a Virtual Asset Trading Platform (VATP) license in Hong
04.12.2023
​A report from Bybit's cryptocurrency exchange, Bybit Research, has shown that institutional investors prefer to put their money into "safe" assets
29.11.2023
​Cryptocurrency exchange Bybit continues to come under scrutiny from regulators in various countries, including the UK and Japan. Recently, however, many
06.11.2023
​Cryptocurrency exchange Bybit has announced that it has received an "AA" rating from the CCData Crypto Exchange Benchmark Report, demonstrating the
26.10.2023
​Cryptocurrency exchange Bybit announced the launch of the ByBUIDLERs Program aimed at crypto and Web3 enthusiasts. ByBUIDLERs provides great
19.10.2023
​Cryptocurrency exchange Bybit announced that it will hold an 'Elite Traders Championship'. The tournament's prize pool is set at 30,000 USDT. In

Dynamics of Bybit’s popularity among
Traders Union’s traders, according to 2023 data

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.

Investment Programs, Available Markets, and Products of the Crypto Exchange

Bybit's trading conditions are not designed for investment programs. The exchange policy provides for the expansion of the product line for active trading and investment programs but they are not yet included in its present inventory. To some extent, the division of traders into Makers and Takers can be called investment, stake and earn free crypto tokens on the Bybit Launchpool trading platform.

Best ByBit Trading Signals

Maker and Taker is a motivation program for liquidity providers 

The Maker/Taker motivation program assumes that traders are assigned a class depending on the ordering policy. A Taker placing market orders pays a higher commission for each trade. A Maker works with pending orders and its trading commission is lower. 

Bybit Copy trading review

The Maker's Reduced Commission Reward is a kind of payment for providing liquidity. The pending order remains in the market providing Taker orders, which, on the contrary, absorbs free liquidity. This differentiation encourages traders to make less rapid speculative transactions and invest more for a long time using pending orders.

Bybit VIP: what its and how it works

Advanced AI Tools for Cryptocurrency Trading

Bybit offers several advanced AI-driven tools to help traders navigate the cryptocurrency markets. Their solutions leverage the latest developments in machine learning and natural language processing to provide actionable insights, powerful automated strategies, and round-the-clock market access.

The TradeGPT Master Trader is an AI-powered copy trading tool that allows users to automatically replicate the trades of expert algorithms. Operating 24/7 based on technical indicators, sentiment analysis and quantitative strategies, it achieves an impressive reported 80% win rate. Traders can benefit from these proven AI models without the hassle of technical analysis or constant monitoring.

TradeGPT also acts as an AI assistant, integrating Bybit's exclusive market data to interpret trends, recommend analyses and answer users' investment questions. With over 200,000 traders in its community, it serves as an efficient research companion to help navigate opportunities and risks. The Intelligent News feature further enhances insights by natural language processing of cryptocurrency headlines and discussions to extract the most relevant information.

The Aurora AI Bot analyzes historical market data to backtest and recommend optimal strategies. Users can try out strategy trading simply by selecting an approach and allocating their investment amount. A wide range of options are provided, from high-yield to stable arbitrage styles. Traders gain access to sophisticated strategies without extensive trading experience.

ByBit - How to open and fund account | Firsthand experience of Oleg Tkachenko by Traders Union

Bybit tested by Rinat Gismatullin

ByBit - How to open a trading account? | Firsthand experience of Alex Smith by Traders Union

ByBit tested by Rinat Gismatullin

ByBit - How to copy trades | Firsthand experience of Oleg Tkachenko by Traders Union

ByBit tested by Rinat Gismatullin
Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

Learn More about How to Stake on ByBit

Bybit affiliate program:

  • Bybit’s affiliate program comprises a monthly commission from Bybit to each partner up to 30% of the exchange's profit from the referral. After registering as a partner, you will receive a referral link that you can promote on your resources and social networks. You can build a multi-level referral network and receive up to 10% of sub-affiliates’ earnings.

Trading Conditions for Bybit Users

Bybit's trading conditions are transparent, understandable, and do not have multilevel differentiation depending on the trading volume. The mobile app offers users the option of accessing the trading platform at any time and from anywhere. The exchange has created Bybit Launchpad, a platform designed to help connect new crypto projects and interested users to potential projects. ByBit API provides interfaces for users and developers.

How to Use Bybit For Trading And Investing

1$

Minimum
deposit

1:100

Leverage

24/7

Support

💻 Trading platform: Proprietary platform, TradingView
📊 Accounts: Demo, common account for all types of futures
💰 Account currency: Cryptocurrencies
💵 Replenishment / Withdrawal: Replenishment: Visa / Mastercard through a fiat gateway. Conclusion - cryptocurrencies
🚀 Minimum deposit: From USD 1
⚖️ Leverage: Up to 1:100
💼 PAMM-accounts: No
📈️ Min Order: No
💱 Spread: From USD 1
🔧 Instruments: BTC/USD, ETH/USD, XRP/USD, EOS/USD and BTC/USDT, USDT pairs — ETH/USDT, LINK/USDT, LTC/USDT, XTZ/USDT
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: Market, limit, conditional
⭐ Trading features: Derivatives trading, copy trading
🎁 Contests and bonuses: Yes
Your capital is at risk.

Broker comparison table of trading instruments

Bybit OKX XT.com BitGet Binance Delta Exchange
Forex No No No No Yes No
Metalls No No No No No No
Crypto Yes Yes Yes Yes Yes Yes
CFD No No No No No No
Indexes No No No No No No
Stock No No No No No No
ETF No No No No No No
Options No No No No No No

Bybit Commissions & Fees

Information
The Traders Union experts analyzed the Bybit platform documents regulating the trading conditions for differentiation of commissions. The commission depends on which category is assigned to the trader: Maker or Taker. The Taker commission is 0.075%; whereas the Maker commission is 0.025%.
Account type Spread (minimum value) Withdrawal commission
Standard From $ 20 No

We also compared Bybit's fees with similar types of fees on other exchanges. Following the results of the analysis, each exchange is assigned a corresponding level.

Broker Average commission Level
Bybit $20 High
Binance $6 Low
Huobi Global $18 Medium
Logo Bybit
$20
$6
$18

Security (Protection for Investors)

Information

The Bybit warns that Bitcoin, Ether, and any other Digital Assets are autonomous and largely unregulated on worldwide networks. Traders put their trust in a digital, decentralized, and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.

More about the reliability of the Bybit crypto exchange and regulation by country:

  • Cooperation with Bybit from Canada.
  • Cooperation with Bybit from UK.
  • Cooperation with Bybit from Philippines.
  • Cooperation with Bybit from Nigeria.
  • Cooperation with Bybit from Indonesia.
  • Cooperation with Bybit from Malaysia.
  • Cooperation with Bybit from India.
  • Cooperation with Bybit from US.

Contacts

Foundation date 2018
Official site
Your capital is at risk.
Disclaimer:

Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.
Bybit Review Bybit Review

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FAQs

Do reviews by traders influence the Bybit rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Bybit you need to go to the broker's profile.

How to leave a review about Bybit on the Traders Union website?

To leave a review about Bybit, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about Bybit on a non-Traders Union client?

Anyone can leave feedback about Bybit on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

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