Bybit Review 2026: Fees, Products, KYC, Licensing, and Supported Regions

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Jan 12, 2026, 9:47 AM

ByBit in brief

Bybit launched in 2018 and quickly became known for derivatives—perpetual contracts, deep liquidity, and an interface tuned for speed. Over time it expanded into spot markets, P2P, structured earn products, OTC services for larger tickets, and a growing Web3 layer (wallet and on-chain features). The public face of Bybit remains its co-founder and CEO Ben Zhou.

Item	Details
Founded	2018
Founder / CEO	Ben Zhou (Co-founder & CEO)
What it is	Centralized crypto exchange with spot + derivatives focus, plus P2P/OTC and Web3 products
Best for	Active traders, derivatives users, automation (bots/copy), API builders
Base trading fees (non-VIP)	Spot: 0.10% maker / 0.10% taker • Perpetuals/Futures: 0.01% maker / 0.06% taker • Options: 0.03% maker / 0.03% taker
P2P fees	Bybit states zero transaction fees for buyers/sellers (payment providers may charge separately)
KYC	Mandatory (at least Standard)
Restricted countries (headline)	Includes US, Mainland China, Hong Kong, Singapore, Canada, and more (see “Availability”)

Regulation & licensing highlights (where it’s publicly stated)

Regulation in crypto is fragmented, and Bybit operates through different entities and regional setups. The key “hard” licensing signals that are publicly stated include:

European Union (MiCAR / EEA access via Austria): Bybit EU GmbH was granted authorization as a crypto-asset service provider by the Financial Market Authority Austria. The authorization lists services such as custody/administration, exchange (crypto-to-funds and crypto-to-crypto), placing of crypto-assets, and transfer services.
France (white list / passporting): Bybit EU GmbH appears on the Autorité des marchés financiers white list as a CASP (or authorized to provide crypto-asset services in France under free provision of services), with authorized services shown on the entry.
United Arab Emirates (SCA): Bybit has publicly announced securing a Virtual Asset Platform Operator license from the Securities and Commodities Authority, describing regulated virtual asset trading, brokerage, custody, and fiat conversion services for UAE clients.
Dubai (VARA — provisional / non-operational approval): Bybit has also publicly announced a provisional (non-operational) approval from the Virtual Assets Regulatory Authority for VASP “virtual asset exchange services,” described as a step toward full operational approval in Dubai.

Practical takeaway: licensing coverage and available products can vary by region and entity—especially for fiat rails, earn products, and local promotions.

Account structure & how trading works

Bybit runs a modern “all-in-one” trading setup built around its Unified Trading Account (UTA) concept. In practice, that means you can trade multiple product types (spot, derivatives, options) without bouncing between separate sub-accounts, and you can use supported collateral more flexibly (with different margin modes depending on product and risk settings).

Bybit also applies standard derivatives exchange mechanics such as:

Funding fees on perpetual contracts (paid between longs/shorts depending on market conditions).
Risk limits and liquidation logic (including laddered liquidation approaches for higher risk tiers).
Insurance fund mechanisms designed to help cover negative equity scenarios in derivatives.

Full product & service catalog (what Bybit offers)

1) Core markets

Spot Trading: standard spot order book trading for listed assets.
Convert / Quick Trade: simplified conversion flow (typically used for fast swaps rather than active order-book trading).
Spot Margin Trading: margin on spot pairs (borrowing/interest apply).
Derivatives (Perpetuals & Futures): USDT/USDC/inverse-style contracts depending on market; funding applies to perpetuals.
Options: options trading with its own fee schedule and liquidation rules.

2) “Other ways to trade”

P2P Trading: peer-to-peer marketplace for buying/selling via payment methods; Bybit states zero transaction fees on the platform side.
OTC Trading: direct counterparty trading outside the public order book (negotiated pricing), aimed at block trades and institutions.
RFQ (Request for Quote): professional OTC-style quoting flow (positioned for larger/VIP execution).
Pre-Market Trading: an OTC-style venue for trading certain new tokens before official listing (with collateral/settlement rules).

3) Automation & pro tooling

Copy Trading: follow “master traders” and mirror strategies with configurable parameters.
Trading Bots: built-in automation such as DCA-style bots (and other bot formats depending on product availability).
APIs: a mature API stack (V5) for spot/derivatives/options via unified endpoints; suited for algo trading, analytics, and account automation.

4) Earn, lending, and portfolio features

Bybit Earn: yield-focused products (structures vary by region and product availability).
Crypto Loans / Borrowing: borrowing within account rules; interest applies; liquidation triggers can apply to loans and margin products.
Leveraged Tokens: exchange-issued leveraged products with their own fee mechanics (subscription/redemption/management fees may apply).
VIP program: tiered benefits that can include lower fees and higher limits.

5) Fiat & payments layer

Buy Crypto (fiat on-ramps): card/bank/payment providers depending on region.
Fiat deposits/withdrawals: available methods vary by country and provider coverage.
Bybit Card: a debit-card style product in supported regions (terms/availability are regional).
Bybit Pay: payment/transfer features positioned for spending and merchant-style flows.

6) Web3 & on-chain

Web3 Wallet: on-chain wallet layer (availability/features can vary by jurisdiction).
NFT: Bybit maintains NFT-related product pages and fee explanations, indicating marketplace-style functionality where supported.

7) Launch & token distribution programs

Launchpad: token sale/subscription style events (often requires eligibility + KYC).
Launchpool: allocate/lock assets to earn project tokens (product rules depend on region/entity).

8) Education, research, and “extra ecosystem”

Bybit Learn / Academy-style education: beginner-to-advanced guides and explainers.
Research / Insights: market reports and analytics content (including derivatives-focused insights).
TradeGPT: an on-platform “analysis assistant” style feature positioned around market commentary.
Referral program & affiliates: invite/referral rewards plus an affiliate program (Bybit markets affiliate commissions up to a stated maximum in its program materials).
Charity / donations: Bybit has publicly communicated charitable initiatives and humanitarian aid efforts.

Fees & costs (what you actually pay)

Trading fees (headline non-VIP rates)

Bybit publicly lists non-VIP trading fees as:

Spot: 0.10% maker / 0.10% taker
Perpetuals & Futures: 0.01% maker / 0.06% taker
Options: 0.03% maker / 0.03% taker

VIP tiers reduce fees, and some fee benefits depend on account status, region, or product type.

Deposits

On-chain crypto deposits and internal transfers: Bybit states no fees charged by Bybit for these.
Fiat purchases / “Buy Crypto”: fees are typically charged by the payment provider and shown during checkout.
P2P: Bybit states zero transaction fees for buyer/seller, while payment rails may have their own charges.

Withdrawals

On-chain withdrawals: fees vary by asset and chain; Bybit describes withdrawal fees as visible in the withdrawal flow and fixed per withdrawal (for that asset/chain selection).
Internal transfers to other Bybit accounts: Bybit states no withdrawal fee for internal transfers.

Funding, liquidation, and borrowing costs

Funding fees: periodic payments between longs/shorts for perpetuals (rate depends on contract).
Liquidation fees: Bybit states liquidation fees can apply in Spot Margin, Crypto Loans, and Options; and it states it does not charge liquidation fees for perpetual and futures trading.
Interest: borrowing services incur interest; the rate is shown on the relevant product pages.

KYC & AML (how strict is it?)

Bybit’s policy is straightforward: identity verification is compulsory.

Minimum requirement: at least Standard level identity verification is mandatory for all Bybit products and services.
Higher tiers: depending on region/product, you may need Advanced/Pro-style verification.
Limits: withdrawal limits scale with verification level and VIP tier (Bybit publishes tiered limits in its KYC FAQ).
Sanctions/Prohibited parties: Bybit states it does not offer services to parties on major sanctions lists (US/EU/UK) and entities owned/controlled by such parties.

Availability & restricted countries (as stated by Bybit)

Bybit states it does not offer services or products to users in certain “Excluded Jurisdictions,” including:

United States, Chinese Mainland, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine (including Crimea, Donetsk, and Luhansk), Sevastopol, Sudan, Syria, Dubai, plus any other jurisdictions where it may decide to terminate services at its discretion.

It also states restrictions can apply to sanctioned/prohibited parties (US/EU/UK sanctions lists and owned/controlled entities).

Security & risk controls (what’s visible from Bybit’s own materials)

Bybit publishes security guidance and describes multiple account-protection layers commonly expected on major exchanges, including:

Two-factor authentication (2FA) recommendations and security configuration steps.
Withdrawal address management / whitelisting controls (designed to reduce withdrawal risk).
Derivatives risk systems: insurance fund concept, risk limits, and liquidation rules.

Reality check: exchanges can do many things right and still face operational and custody risk. Serious users typically treat exchanges as trading venues and keep long-term holdings in self-custody where appropriate.

Bottom line

If your priority is active trading—especially derivatives, options, automation, and API connectivity—Bybit is one of the most feature-complete venues in the category. It’s not the simplest “first exchange” on earth, but it’s built for users who want tools, speed, and multiple ways to execute (order books, P2P, OTC/RFQ, bots, copy trading).

The main “gotchas” are the same ones you’ll see across global exchanges: regional restrictions, product availability depending on entity, and the fact that advanced products (leverage, options, bots) magnify mistakes fast.

FAQ

Is Bybit good for beginners?
It can be—but it’s clearly optimized for traders. Beginners usually stick to spot/convert and learn risk controls before touching leverage or options.
Does Bybit require KYC?
Yes. Bybit states identity verification of at least Standard level is mandatory for all products and services.
What are Bybit’s spot and derivatives fees?
Bybit lists non-VIP spot fees at 0.10% maker / 0.10% taker, and perpetuals/futures at 0.01% maker / 0.06% taker (with VIP discounts available).
Does Bybit charge deposit fees?
Bybit states there are no fees for on-chain deposits or internal transfers. Fiat purchase fees depend on the payment provider and are shown in the order flow.
Are there P2P fees on Bybit?
Bybit states P2P trading has zero transaction fees for buyers and sellers, though payment providers may charge fees depending on the method used.
Does Bybit offer copy trading and trading bots?
Yes. Bybit offers Copy Trading and built-in Trading Bots (including DCA-style bot functionality).
Does Bybit have an API for algorithmic trading?
Yes. Bybit maintains API documentation and supports a unified V5 API suite covering multiple product lines.
Is Bybit available in the US, UK, Canada, or Singapore?
Bybit’s “Excluded Jurisdictions” list explicitly includes the United States, Canada, Singapore, and others.
What is Bybit UTA (Unified Trading Account)?
It’s Bybit’s account structure designed to let users trade multiple product types (spot/derivatives/options) under a unified setup with flexible collateral and margin modes.
Does Bybit offer OTC services?
Yes. Bybit offers OTC trading and RFQ-style tools intended for negotiated execution outside the public order book.