Bybit, founded in March 2018 and registered in the British Virgin Islands, is a global digital asset derivatives trading platform serving users across more than 200 countries. It provides professional trading services for both individual and institutional investors. But what is Bybit exchange exactly, and how does it stand out in the fast-evolving crypto landscape? This comprehensive guide explores Bybit’s core functions, services, history, and user experience—offering a clear understanding of one of the world’s leading cryptocurrency derivatives exchanges.
Bybit Exchange: A Leading Global Derivatives Trading Platform
Bybit is a centralized cryptocurrency exchange known for its robust infrastructure, intuitive interface, and advanced trading tools. Since its launch, it has rapidly grown into one of the largest platforms for futures and derivatives trading in the crypto space. The platform supports multiple trading types including spot, leveraged trading, options, and DeFi services—all designed to meet the needs of both novice and experienced traders.
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Known in Chinese as "Bai Bi Te," Bybit positions itself as a next-generation Web3 platform. As of 2025, Bybit has surpassed 30 million global users, with a daily trading volume averaging $25 billion. It serves customers in over 230 regions, making it a major player in the international crypto market.
Core Keywords
- Cryptocurrency derivatives exchange
- Bybit trading platform
- Futures and options trading
- Leverage trading crypto
- Web3 financial services
- Spot and perpetual contracts
- Crypto exchange fees
- Digital asset trading
These keywords reflect user search intent around understanding what Bybit does, how it works, and whether it's suitable for different types of traders.
Evolution of Bybit: From Startup to Industry Leader
Founding and Early Growth (2018)
Bybit was founded by Ben Zhou, a former executive at the foreign exchange brokerage firm XM. Initially headquartered in Singapore, the company later relocated to Dubai in 2023 while maintaining its legal registration under Bybit Fintech Limited in the British Virgin Islands.
With just ten founding team members, Bybit successfully launched its BTCUSD inverse perpetual contract within two months of inception—an early milestone that laid the foundation for future innovation.
Building Momentum (2019–2020)
The year 2019 marked significant traction:
- Handled 10% of global Bitcoin trading volume
- Achieved break-even within five months, supported by over 5,000 early adopters
By 2020:
- Daily trading volume exceeded $4 billion
- Surpassed BitMEX in market share
- Expanded its workforce to 200 employees (not 2000 as previously misreported)
This phase solidified Bybit’s reputation for reliability and performance during high-volatility market conditions.
Expansion and Innovation (2021–2022)
During this period, Bybit accelerated product development:
- Daily trading volume peaked at over $70 billion
- Introduced real-time proof of reserves—a transparency initiative gaining industry-wide importance
- Launched BTCUSDC and ETHUSDC options contracts, broadening access to stablecoin-based derivatives
- Became the title partner of Oracle Red Bull Racing, enhancing brand visibility in mainstream markets
New Horizons (2023–2025)
Recent developments highlight Bybit’s strategic growth:
- User base exceeded 20 million in 2023; now exceeds 30 million
- Partnered with Mastercard to launch the Bybit Card, enabling crypto-to-fiat spending
- Established a regional headquarters in Dubai and obtained an MVP (Minimum Viable Product) license
- Recognized by CoinGecko as one of the top three most trusted cryptocurrency exchanges
- Maintains top-tier ranking among derivatives exchanges globally, second only to Binance
Ben Zhou attributes part of this growth to the collapse of FTX in late 2022, which led many displaced users to migrate to secure and reliable platforms like Bybit.
Services Offered by Bybit
Bybit delivers a comprehensive suite of financial tools tailored for modern digital asset traders.
1. Spot Trading
Users can trade major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and dozens of altcoins directly using spot markets. Orders are executed instantly based on current market prices.
2. Derivatives & Perpetual Contracts
One of Bybit’s strongest offerings is its derivatives market:
- Up to 100x leverage available
- Supports both USDT-margined and inverse perpetual contracts
- Advanced order types including limit, market, stop-limit, and trailing stops
These features make it ideal for active traders seeking amplified exposure.
3. Options Trading
Bybit offers European-style options on BTC and ETH with USDC settlement, providing hedging opportunities and strategic flexibility for sophisticated investors.
4. Bybit Earn – Passive Income Solutions
This integrated finance hub allows users to earn returns through:
- Staking Proof-of-Stake tokens (e.g., ADA, DOT)
- Liquidity mining programs
- Flexible savings products with daily yield payouts
It bridges centralized exchange convenience with DeFi-like earning potential.
5. API and Copy Trading
For technical users:
- REST and WebSocket APIs enable algorithmic trading strategies
- Copy Trade feature lets beginners mirror trades from proven traders automatically
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How to Open a Bybit Account
Creating an account on Bybit is straightforward:
- Sign Up: Visit the official site and register using your email or phone number.
- Verify Identity (KYC): Complete the Know Your Customer process by uploading government-issued ID (passport or driver’s license) and proof of address (utility bill or bank statement).
- Deposit Funds: Transfer crypto to your wallet or buy crypto directly using fiat if supported in your region.
- Begin Trading: Navigate to your preferred market—spot, futures, or options—and place your first trade.
No account opening fees apply.
Fee Structure: Transparent and Tiered Pricing
Bybit uses a tiered fee model based on trading volume or account balance over the past 30 days:
| Trade Type | Standard Fee | VIP Discount (Lowest Tier) |
|---|---|---|
| Spot Trading (Maker) | 0.1% | As low as 0.005% |
| Spot Trading (Taker) | 0.1% | As low as 0.015% |
For derivatives:
- Funding rates are charged every eight hours and vary based on market demand
- Withdrawal fees are fixed per coin type (e.g., BTC network fee applies)
High-volume traders benefit from reduced fees and additional perks.
Regulatory Compliance and Market Presence
While Bybit adheres to international anti-money laundering (AML) and KYC standards, it operates in a complex regulatory environment. In response to tightening regulations:
- Exited Canadian and UK markets in 2023
- Voluntarily withdrew services from France in 2024
Despite these adjustments, Bybit continues expanding in compliant jurisdictions like Dubai and Southeast Asia.
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Frequently Asked Questions (FAQ)
Q: Is Bybit safe to use?
A: Yes. Bybit implements multi-layered security measures including two-factor authentication (2FA), cold storage for assets, real-time monitoring, and regular audits. Its proof-of-reserves system enhances transparency.
Q: Can I trade with leverage on Bybit?
A: Absolutely. Bybit supports up to 100x leverage on select perpetual contracts, allowing traders to increase position size with minimal capital—but risk also increases accordingly.
Q: Does Bybit support fiat deposits?
A: Yes, depending on your location. Users in supported regions can deposit via bank transfer, credit card, or third-party payment processors.
Q: What is the difference between inverse and linear contracts?
A: Inverse contracts are settled in cryptocurrency (e.g., BTC), while linear (USDT-margined) contracts settle in stablecoins, offering more predictable P&L for beginners.
Q: How does copy trading work on Bybit?
A: You can follow experienced traders automatically. Set risk parameters like maximum investment per trade, and the system replicates their moves in real time.
Q: Are there any hidden fees on Bybit?
A: No hidden charges exist. All fees—including trading, withdrawal, and funding—are clearly listed on the platform.
Bybit remains at the forefront of the digital asset revolution—delivering speed, choice, and innovation to millions of users worldwide. Whether you're exploring crypto for the first time or executing complex derivatives strategies, Bybit offers a powerful ecosystem designed for performance and accessibility.