Bybit ranks as one of the top cryptocurrency exchanges globally, supporting 430+ digital assets with robust liquidity and fast order execution. While its contract trading exhibits slippage during stop-loss triggers, the platform offers a balanced suite of features, including spot trading, diverse derivatives (inverse contracts, USDC options), and competitive fees—some spot pairs even enable zero-fee trading.
Bybit Exchange Overview
Founded in 2018 by a Shanghai-based startup team led by Ben Zhou, Bybit is headquartered in Singapore with operational hubs in Hong Kong and Taiwan. It ranks #4 in CoinMarketCap’s spot exchange rankings and #2 for derivatives, trailing only Binance.
Key Features
- 430+ cryptocurrencies with deep liquidity and minimal price slippage.
- Diverse derivatives: Inverse contracts, USDC perpetual futures, and options.
- Copy Trading: 8,000+ professional traders to follow, one of the largest pools among exchanges.
- Security: Mandatory KYC, Google Authenticator for withdrawals, and detailed Proof of Reserves (42% stablecoins, 20% platform/tokens).
Is Bybit Safe? Addressing Scam Concerns
Bybit’s security framework has gaps but demonstrates crisis resilience:
- Regulation: Only operational in India post a $1M "penalty"; lacks global licenses.
- Reserves: Publishes wallet addresses via Nansen but holds just 42% in stablecoins.
- Hack Response: Recovered from a $1.5B ETH theft in 2025 within 12 hours, restoring 1:1 reserves promptly.
User Protections:
- Mandatory KYC + 2FA for withdrawals.
- Anti-phishing codes and device management tools.
Trading Experience: Functionality & Fees
Spot Trading
- Zero fees for USDC pairs and select BTC/USDT trades.
- Liquidity: Instant market orders; limit orders fill within seconds.
Contract Trading
- Fees: 0.02% (maker) / 0.055% (taker).
- Tools: Advanced charting (web) and profit calculators (app).
Copy Trading & Bots
- Grid Bots: Customizable or premade strategies.
- Performance: ROI up to 18.84% in tested cases.
Fees & Funding
| Service | Fee Structure |
|---|---|
| Spot Trading | 0.1% (taker/maker); VIP discounts apply |
| Contracts | 0.02%–0.055% |
| Credit Card Deposit | 3%–6% (high cost) |
| Crypto Withdrawals | BTC: 0.0005 BTC; USDT: 0.3–5 USDT |
Pro Tip: Use P2P or blockchain transfers to avoid high card fees.
Customer Support & Reputation
- 24/7 Live Chat: Slow response times (~1–3 mins) but transparent answers.
- PTT Sentiment: Mixed—praised for contracts but criticized for stringent KYC and withdrawal hassles.
FAQ
1. Is Bybit available in Taiwan?
Yes, but unregulated locally.
2. Does Bybit require KYC?
Mandatory for trading and withdrawals.
3. Best deposit method for Taiwanese users?
P2P or crypto transfers (avoid 3%–6% card fees).
👉 Explore secure trading options
Final Verdict
Bybit excels in product diversity and liquidity but needs stronger regulatory compliance. Ideal for traders prioritizing derivatives and copy trading, though caution is advised for long-term asset storage.