This comprehensive guide explores Bybit, a leading cryptocurrency derivatives exchange, covering its trading volume, security measures, fee structure, platform features, user reviews, and step-by-step instructions for registration, funding, withdrawals, and app downloads.
Table of Contents
Bybit Exchange Overview
| Key Details | |
|---|---|
| Founded | March 2018 |
| Company | Bybit Fintech Limited |
| Languages | English, Simplified/Traditional Chinese |
| Trading Pairs | 65+ cryptocurrencies |
| Website | www.bybit.com |
👉 Discover how Bybit compares to top exchanges
Bybit specializes in derivative trading, offering up to 100x leverage on perpetual contracts. It ranks among the top 10 global derivatives exchanges by volume. Founded by former XM executive Ben Zhou, Bybit serves over 3 million users across North America, Europe, Asia, and the Middle East.
Platform Features
| Category | Details |
|---|---|
| Security | 2FA, cold wallet storage, KYC, SSL encryption, BitUniverse transparency program |
| Trading Modes | Spot trading (BTC, ETH), derivatives (USDT perpetual contracts, inverse contracts) |
| Fee Structure | Spot: 0.1% taker fee (0% maker fee) Derivatives: -0.025% maker rebate / 0.075% taker fee |
| Leverage | Up to 100x |
| Fiat Deposits | Credit/debit cards, P2P (supports TWD, USD, etc.) |
| Restricted Regions | US, China, Singapore, Quebec (Canada), Cuba, Iran, Crimea |
Bybit Security Evaluation
1. Company Background
- Leadership: CEO Ben Zhou brings 8 years of Forex brokerage experience (XM) to Bybit.
- Global Rank: #2 derivatives exchange by volume (CoinMarketCap) with ~$15.3B daily trades.
2. Regulatory Status
Though registered in the BVI, Bybit isn’t fully regulated. However:
- Mandatory KYC for all users
- No reported hacks since 2018 launch
- Avoid phishing sites—only use official Bybit links
3. Technical Security
- 99.99% uptime with 100,000 TPS capacity
- Multi-signature withdrawals + manual reviews
- Cold wallet storage for asset protection
Pros and Cons
Advantages
- Negative maker fees: Earn 0.025% rebate on derivative orders
- Zero spot trading fees for limit orders
- Frequent promotions (e.g., $10 USDT bonuses)
Limitations
- No US/Singapore/China access
- Derivatives-focused (limited spot trading pairs)
👉 Maximize savings with Bybit’s fee structure
Registration, Funding, and Withdrawals
Funding Methods
- Credit/Debit Card: Buy BTC/ETH/USDT via Banxa/MoonPay (no Bybit fees)
- P2P Trading: Direct purchases from verified merchants (supports TWD)
- Crypto Transfers: Deposit from wallets/exchanges like Binance or MAX
Withdrawal Notes
- Manual processing (3x daily batches)
- Withdrawals to Taiwanese exchanges (e.g., MAX) recommended for TWD conversions
FAQ
Q: Is Bybit a scam?
A: No. Despite lacking full regulation, Bybit operates transparently with robust security and high liquidity.
Q: What’s Bybit’s biggest advantage?
A: Its negative maker fees—you earn 0.025% when adding liquidity to derivatives markets.
Q: How long do withdrawals take?
A: Typically processed within 8 hours during Hong Kong business hours.
Q: Can US citizens use Bybit?
A: No. Bybit restricts access to US residents due to regulatory constraints.
Q: Does Bybit support TWD deposits?
A: Yes, via P2P trading or credit card purchases.
Q: What if Bybit exits my region?
A: Users receive advance notice to withdraw funds, as seen in past regional exits.