Bybit is a cryptocurrency exchange founded in March 2018 by Ben Zhou, headquartered in Dubai, United Arab Emirates since 2022.
Overview
Bybit operates a spot and derivatives trading platform supporting over 1,000 crypto assets across 160+ countries. The exchange offers spot trading, perpetual and quarterly futures contracts, options, and a P2P marketplace. As of 2025, Bybit claims 80 million registered users. The exchange established a European headquarters in Vienna, Austria in May 2025 following its MiCA CASP authorization.
Trust & Regulation
- Trustpilot score: 2.3/5 based on approximately 7,032 reviews (as of early 2026)
- Licensed by: UAE Securities and Commodities Authority (SCA) — full Virtual Asset Platform Operator License (October 2025); Austria FMA — MiCA CASP authorization passported across 29 EEA countries (Bybit EU GmbH, FN 636180i, May 2025); Astana Financial Services Authority (AFSA), Kazakhstan (June 2023); National Bank of Georgia VASP; FIU-IND (India)
- Registered entity: Bybit Fintech Limited, Seychelles International Business Company (reg. 226958). Previous BVI entity dissolved July 2023.
- Security incident: In February 2025, North Korea's Lazarus Group exploited a Safe{Wallet} UI vulnerability and stole approximately $1.5 billion in ETH — the largest crypto theft in history. Bybit publicly stated that all client assets were covered 1:1 from company reserves and has published regular Proof-of-Reserves audits since.
- Regulatory actions: Ontario Securities Commission (Canada) enforcement and $2.5M disgorgement settlement; Dutch DNB fine for non-compliance; BVI FSC public statement regarding dissolved BVI entity.
Restricted Regions
Bybit does not serve users in the United States, United Kingdom (suspended October 2023), Canada, mainland China, Hong Kong, Singapore, France, and OFAC-sanctioned territories (Iran, North Korea, Cuba, Syria, Sudan, and others).
Supported Payment Methods
- Credit and debit cards (Visa, Mastercard) for one-click crypto purchase
- SEPA bank transfers (EU)
- Google Pay and Apple Pay (select regions)
- P2P marketplace: 80+ peer-to-peer payment methods accepted between users
KYC Requirements
KYC is mandatory for all users since May 2023. Standard tier requires government-issued photo ID and liveness selfie (5–10 minutes). Advanced tier adds proof of address for higher withdrawal limits.
Fees
- Spot trading: 0.10% maker / 0.10% taker (VIP 0 base rate; lower tiers available)
- Perpetual futures: 0.020% maker / 0.055% taker
- Credit/debit card purchases: 1.1%–3.05% depending on region and card type (EEA Visa/MC promotional 0% on select currencies)
- Crypto deposits: free (network fees apply)
- Fiat deposits via SEPA: free
Customer Support
Bybit provides 24/7 multilingual live chat and email support (support@bybit.com). No phone support is available.
