Bybit Review (2026)
Our verdict: 4.1 / 5
Bybit built its name on derivatives and still has one of the best trading engines for that crowd, but it's now a capable all-round exchange with low spot fees and a polished app. The caveats: its derivatives products are high-risk and not for beginners, and its regulatory coverage is patchier than Coinbase or Kraken, with access restricted in several countries.
How it scores
👍 Pros
- Low spot and derivatives fees
- Fast, well-designed trading engine
- Wide selection of coins and pairs
- Polished mobile app
👎 Cons
- Derivatives focus is risky for beginners
- Lighter regulatory standing than rivals
- Restricted or unavailable in some countries
- Suffered a major exploit in early 2025
How it compares
| Feature | Bybit | Binance | Kraken |
|---|---|---|---|
| Our score | 4.1 | 4.3 | 4.5 |
| Spot maker/taker | 0.10% / 0.10% | 0.10% / 0.10% | 0.25% / 0.40% |
| Coins listed | 300+ | 350+ | 200+ |
| Derivatives | Extensive | Extensive | Limited |
| Beginner friendly | Moderate | Moderate | Moderate |
| Best for | Active traders | Low fees | Security-minded |
How we tested
We funded a verified Bybit account, placed spot trades, explored (but did not recommend) its derivatives products, and tested withdrawals to an external hardware wallet. We reviewed its two-factor setup and its response to the 2025 security incident. Scores weight security most heavily, then fees and usability. We fund our own accounts — Bybit does not influence our verdict.
FAQ
Is Bybit safe after the 2025 hack?
In early 2025 Bybit suffered one of the largest exchange exploits on record, with attackers draining a hot wallet. Bybit covered customer losses and kept withdrawals running, which limited the damage to users — but it's a reminder that exchanges hold your keys. Keep long-term funds in your own wallet.
Are Bybit's leverage products suitable for beginners?
No. Leveraged derivatives can wipe out your position quickly and are designed for experienced traders. This is education, not advice — if you're new, stick to simple spot purchases and only risk what you can afford to lose.