Bybit Review 2025– Pros, Cons and Pricing

Bybit Trading

Options

Bybit Options offers European-style, cash-settled options contracts that are margined and settled in USDC. These options give traders the right, but not the obligation, to buy or sell an underlying asset at a predetermined strike price on a specific expiration date. Bybit provides three trading tools—Option Explore, Easy, and Pro—catering to different experience levels. It supports various types of options orders, including call and put options, offering traders the flexibility to profit from rising and falling markets.

P2P Trading

Bybit’s P2P platform is an easy, secure, and fee-free option for peer-to-peer trading. It’s important to note that Bybit does not provide buy and sell offers on the P2P page. The key advantages of Bybit’s P2P platform include zero fees, high security, and competitive trading limits, which position it among the best P2P trading platforms.

Derivatives

The platform offers crypto derivatives trading, allowing users to trade contracts with up to 50x leverage. The platform has a 24-hour trading volume of approximately $23.3 billion and is trusted by around 65.2 million users. You can open a position in two ways: 

• by using the Quick Trading functions on the Trading Chart
• by placing basic and advanced orders in the order zone

Spot

Bybit also supports spot trading. To get started, users should first select their trading pairs. They can find them on the left side of the page, along with the Last Traded Price and the 24-hour change percentage of the underlying trading pair. Then, they should place their order using the several available order types. To execute spot trading, users must be in the Spot tab and decide whether to Buy or Sell an asset. Then, they enter their order value or quantity. 

Bybit Convert

This feature allows users to convert hundreds of verified and new cryptocurrencies quickly with instant execution and no Bybit fees. Users can check their conversion history in the upper right corner of the Bybit Convert page. Different coins have different minimum and maximum transaction limits. 

Bybit Earn

Bybit Earn provides diverse financial products for crypto investors to grow their assets. Every Bybit exchange review notes its offerings include Dual Asset, Bybit Savings, Liquidity Mining, and ETH 2.0 Liquid Staking. Users can earn yields by staking the best staking coins through Launchpool, offering free token rewards with flexible unstaking. Wealth Management enables professional portfolio strategies, while Discount Buy and Double-Win maximize market opportunities. Bybit Earn stands out for its flexibility, allowing users to generate passive income while leveraging advanced trading and investment strategies to enhance their crypto holdings.

Bybit Trading Bot

Bybit provides several code-free and pre-configured trading bots, allowing users to use effective trading strategies that save time and improve investment returns. The ByBit Trading Bots are free, making it a cost-effective option among the best crypto bots. Bots include Grid Bot, DCA Bot, and Martingale Bot.

Bybit Card

This Mastercard debit card allows simple and easy access to your digital and fiat funds. Users can spend with their card to earn 10% cashback, up to $300. The card supports only one fiat currency – USD. Then again, supported cryptocurrencies include ETH, BTC, XRP, USDT, TON, USDC, BNB, and MNT, with more options on the way.

Bybit Wallet

This is a custodial crypto wallet with a proven track record when it comes to security. With the Bybit wallet, users get the function of keeping their funds safe and are granted access to the Web3 world of GameFi, DeFi, and NFTs. Users should create the wallet by clicking on ‘Connect Wallet’ in the upper right corner of the Bybit Web3 page and choosing ‘Bybit Wallet.’ They can add the wallet addresses they want to observe to the watch-only wallet list.

Bybit Fees and Commissions

By bit, spot trading fees vary based on the user activity level and trading method, and the fee structure is clearly listed on the platform. Market makers are incentivized to help add liquidity to the platform and are rewarded with lower fees. Fee structures can change, so double-check on Bybit’s website before trading.

The Bybit trading fees on both perpetual futures and options are cheaper than those on spot trading. The fee structure has many different tiers that vary based on the amount you trade and your Bybit VIP level.

Supported Cryptocurrencies and Payment Methods

Bybit accepts a number of different payment methods to fund your account. First, you can deposit crypto from another exchange or wallet into your newly created Bybit account. You can do this through the Bybit website or the Bybit app.

Second, you can buy crypto directly on Bybit. Users looking to make a purchase right away can connect their debit or credit cards and click on One-Click Buy. Bybit also accepts bank transfers, Paysera, SEPA, Google Pay, Maestro, Revolut, Advcash, and many more.

Bybit accepts deposits in 16 different fiat currencies. This list of fiat currencies consists of but is not limited to GBP, USD, EUR, CRC, KZT, TRY, ARS, PLN, UYU, PEN, VND, UAH, MXN, ZAR, BRL, and COP.

Bybit has listed 1,736 assets, including the most popular cryptocurrencies like Bitcoin and Ethereum.

In addition to the more than 300 currencies available in the spot market, over 200 perpetual and quarterly futures contracts are also available to trade.

Bybit Customer Support and Online Reviews

Bybit maintains a robust support center that offers answers and guides to most users’ questions. It also offers live chat and email support.

Bybit states that its customer support channels are available 24/7.

We were thoroughly impressed with Bybit’s speed when dealing with queries about its platform. The live chat function is fully operational on the website, responding to my question in seconds, and it appeared to be dealt with by an actual human, not just an auto-reply chatbot.

The query was dealt with in less than a minute and was very helpful.

On Trustpilot, Bybit only has a 1.6 rating, which does not look good, but the page seems clogged with fake reviews. This low Trustpilot rating gives us some pause and is the reason for the mixed reviews. However, the mobile app has a rating of 4.7 with 10+ million downloads on a much more active Google Play Store. That’s impressive and gives us a lot of assurance in the platform’s performance across mobile and web. On the Apple App Store, Bybit has a rating of 4.7. For those of you wondering if there was a mobile app from Bybit download the app on your phone’s app store.

Additionally, Bybit has an active social media presence and a large Reddit community, making for a confidence-inspiring service.

Users who join Bybit get $50 rewards, including a BTC airdrop. Also, they can claim up to $5,050 in rewards by signing up for an account, receiving a 20 USDT coupon instantly, and completing simple trading tasks.

Bybit offers a Referral Program, an incentive program rewarding you and your friends. You can invite your friends by sending your Bybit referral code and link. You can earn up to 1,717 USDT in rewards if they complete program tasks. Still, remember that all tasks must be completed during the Referral Program period to qualify for rewards (there is currently no official end date). You can earn up to 30% commission each time your referee completes a trade.

The Bybit affiliate program allows users to earn up to 50% in commissions and an additional 10% if their user becomes an affiliate.

Bybit KYC Process

The Bybit KYC (Know Your Customer) process consists of two levels of verification, which help enhance security and unlock additional features on the platform.

Level 1 (Basic Verification): You need to provide personal information such as name, date of birth, and country of residence, along with a valid government-issued document like a passport, ID, or driver’s license. Additionally, you’ll complete facial recognition to confirm your identity.

Level 2 (Residency Verification): This step requires a proof of address document (such as a utility bill or bank statement) to further increase withdrawal limits and access exclusive platform features.

Completing both levels increases your daily crypto withdrawal limits and gives you access to promotions and events.