Bybit Review 2026: Fees, Safety After the Hack, KYC & Countries

Bybit at a Glance

In the United States

Not available

Spot fee in the United States

Bybit Spot: 0.10% maker / 0.10% taker

Operating since

2018

Users

80+ million, per Bybit

Licenses

EU: MiCA via Bybit EU (Austria, 2025). UK: promotions approved by Archax; Bybit isn't FCA-registered

Instant buy (Convert)

No separate fee — a margin built into the quote

New-user bonus

Task-based coupons, not cash

Proof of Reserves

Merkle tree, audited by Hacken; above 100% on 23 Sep 2026

KYC

Needed to deposit and trade; without it, withdrawals only

Our Verdict, Area by Area

Live: What $500 Buys on Bybit — and Elsewhere

Each exchange's entry-tier fee for a market order, with what's available in the United States. Change the coin or the amount.

Bybit Fees

Bybit's spot order book charges 0.1% to both makers and takers at the regular (non-VIP) tier, per its Help Center page updated in June 2026. On a $500 market order that is $0.50 — among the lowest of the large exchanges. Convert, the one-tap swap, has no separate fee, but its margin is built into the quote, so the order book is cheaper for anything but small swaps. EEA residents trade on Bybit EU, which since 5 October 2026 charges one 0.25% rate for maker and taker at the entry level, lower with volume — as reported, because bybit.eu blocks automated checks.

Crypto withdrawals cost a network fee that depends on the coin and the network; Bybit shows it, with the minimum, on the withdrawal screen before you confirm.

What a $500 order costs in fees

Bybit spot, global platform$0.50

0.10% — maker and taker

Bybit EU spot$1.25

0.25% — one rate since 5 Oct 2026 (reported)

Bybit Convertin the quote

no separate fee — a margin built into the quote

For comparison: Kraken Pro, market order$4

0.80% — taker fee, entry tier

KYC: What Works Without Verification

Bybit requires verification for almost everything. Without KYC you can only withdraw existing funds — up to 20,000 USDT a day and 100,000 a month. Standard verification (a government ID and a face scan) unlocks deposits, spot and derivatives trading, P2P, card purchases and Earn, with withdrawals of up to 1 million USDT a day. Advanced verification adds a proof of address and raises the limit to 2 million USDT a day; it's also required for the Bybit Card.

Is Bybit Safe? The February 2025 Hack

On 21 February 2025, attackers manipulated a routine transfer from one of Bybit's Ether cold wallets and took about $1.5 billion — the largest crypto theft on record. The FBI attributed it to North Korea's Lazarus Group. Bybit said client funds were safe and that other cold wallets were unaffected, covered the gap with a bridge from partners, and kept processing withdrawals.

Bybit publishes Proof of Reserves built on a Merkle tree, so you can check that your balance is included; the audits are run by Hacken, and the latest, on 23 September 2026, reported a reserve ratio above 100%. In the EU, Bybit operates as Bybit EU from Vienna under a MiCA license from Austria's Financial Market Authority, announced in May 2025, with Bybit.eu live since July 2025.

Where Bybit Works — and Where It Doesn't

Bybit doesn't serve residents of the US, Canada, Australia, Japan, Singapore, New Zealand or the Isle of Man, nor sanctioned countries such as Iran, Cuba, North Korea, Syria and Sudan. In the EU, residents use Bybit EU. In the UK, Bybit returned on 19 December 2025 with spot trading on about 100 pairs and P2P, without derivatives; its UK promotions are approved by the FCA-authorised firm Archax, and Bybit itself isn't registered with the FCA. Where Bybit can't serve you, a licensed option such as Kraken (US, Canada, Australia) is the realistic choice.

Bybit vs Kraken: Which Should You Pick?

Where both serve you, Bybit is cheaper per trade: 0.1% on the global platform (0.25% on Bybit EU) against Kraken Pro's 0.40% / 0.80% at the entry tier. Kraken's $10 in Bitcoin for new users outweighs that difference on a first purchase of up to about $1,400 — about $1,800 against Bybit EU — and Kraken's record has no customer-fund losses. For frequent trading and P2P, Bybit; for a first purchase, the bonus or the longer record, Kraken. Our crypto calculator shows what each exchange gives you for your exact amount and country.

What You Can Do on Bybit

How to Start on Bybit

1. 1

   Check that Bybit serves your country — not the US, Canada, Australia, Japan, Singapore or New Zealand; EU residents use Bybit EU.

2. 2

   Open an account and complete Standard KYC: a government ID and a face scan.

3. 3

   Deposit crypto, or buy with local currency on Bybit P2P or with a card.

   

4. 4

   Trade on the spot order book (0.1%) rather than Convert, whose margin is built into the quote.

5. 5

   Turn on 2FA and a withdrawal address whitelist.

6. 6

   Withdraw long-term holdings to your own wallet; the network fee shows on the withdrawal screen.

Bybit FAQ