Bybit Review 2024
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
- 1$
- Proprietary platform
- TradingView
- Derivatives trading, copy trading
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
- 1$
- Proprietary platform
- TradingView
- Derivatives trading, copy trading
Our Evaluation of Bybit
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
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 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.
Brief Look at Bybit
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.
- 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.
- 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.
TU Expert Advice
Financial expert and analyst at Traders Union
Bybit is a relatively young 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 Bybit presents a VIP program, the participants of which receive priority access to the crypto exchange support service chat for prompt issue resolution.
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. Bybit provides its clients with the opportunity to delete accounts independently.
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.
- 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.
- 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.
Bybit Summary
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.
| 💻 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 |
| 💱 Commission: | 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 |
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.
Share your experience
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Abdullah 
Verified
PK Islamabad 
Lots of educational information, good platform for beginning traders.
I haven't found it yet
Eddy 
Verified
US
Thats good platform!
Nothing
Serrano Hunte
Verified
TT Claxton Bay
There are also useful tools you can use to see what will happen if a trade goes your way or against you.
Everything is legit
Regulation and Safety
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. To further protect your Bybit account, you need to undergo verification.
More about the reliability of the Bybit crypto exchange and regulation by country:
Commissions & Fees
| Account type | Commission (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 |
|---|---|---|
|
$20 | |
|
$6 | |
|
$18 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
Bybit's trading conditions are not designed for investment programs but only for copy trading programs for derivatives and spots. 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.
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.
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.
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, signals, 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.
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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:
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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.
User Satisfaction