Based in






Margin Trading


Maker fee

Taker fee


Withdrawals rates are determined by the blockchain network and can fluctuate







ByBit currently have around 2 million users and provide a range of trading and investment products and services for both beginners and experts alike.


  • Customer led development and ethos

  • Innovative DeFi products

  • Simple and practical layout

  • Available on mobile apps


  • Irresponsible levels of leverage offered

About ByBit

ByBit was launched in March 2018 by Ben Zhao and a team with experience in foreign exchange and investment banking together with blockchain early adopters and crypto enthusiasts.

ByBit pride themselves on their customer centric approach to trading and the organization’s core values are to listen, care and improve on the customer experience. In the cut throat world of cryptocurrency development this is an ethos to be proud of. In short ByBit ‘endeavour to provide a professional, smart, intuitive and innovative online trading and cloud mining experience for retail and institutional clients around the world.’

The ByBit platform is one of the most secure in the market and has a 99.9% availability track record experiencing no significant loss of service to date. At the time of press ByBit processed $10 billion in trade volume in the last 24 hours and offers real time market data and competitive levels of liquidity. ByBit is also available in mobile app format.


ByBit – professional, smart, intuitive and innovative online trading and cloud mining experience for retail and institutional clients around the world

ByBit Deposits & Withdrawals

Account registration is quick and easy but does not currently require users to complete Know Your Customer (KYC) verification.

It is possible to buy crypto with fiat on ByBit and there are five different gateway service providers available – Paxful, Banxa, Moonpay, MercuryO and Simplex. Each option provides a different price (for lets say Bitcoin) and prices are refreshed every 30 seconds. All options support Visa and Mastercard with Paxful supporting over 350 payment on ramps including wire transfer, giftcard, digital wallet transfer and debit card.

At present ByBit provides support for 59 different fiat currencies however only Bitcoin, Ethereum and USDT are available to purchase.

Transaction times range from 5 to 30 minutes across the board depending on network times and service level provision. Transactions from new users may take up to one day to complete. Fees are charged by service providers however ByBit will not charge a transaction fee.

All third party providers require users to undertake comprehensive Know Your Customer (KYC) verification. However this is not required to register on the ByBit platform.

Withdrawals are fast and direct and are made from spot account to a pre-defined user wallet. Withdrawal requests are processed 3 times daily with a cut off time 30 minutes before the scheduled time.

ByBit Derivatives

Crypto derivatives are relatively new to ByBit and there are currently three distinct products on offer:

Coin margined inverse perpetual contracts

This is a perpetual futures contract with no expiry date which uses the coin itself as the underlying collateral. There are currently 4 pairs available – BTCUSD, ETHUSD, EOSUSD and XRPUSD.

Leverage of upto 100x is available on BTCUSD while a maximum of 50x is available on the others.

USDT margined linear perpetual contracts

Like the above this is another perpetual futures contract with no expiry date however this product uses USDT as collateral. There are 27 pairs available covering all of the largest crypto including BTC, ETH, XRP, EOS, ADA and DOGE. Full details can be found on the website.

Bitcoin perpetual USDT contracts offer upto 100x leverage with Ethereum contracts offering upto 50 x. All other contracts offer a maximum of 25 x leverage.

Coin margined inverse futures contracts

Coin margined inverse futures contracts are available for both Bitcoin and Ethereum and have quarterly expiry dates. All pairs use the coin itself as collateral. Leverage of upto 100x is available on Bitcoin pairs and 50x available on Ethereum.

ByBit Fees

As with every other modern cryptocurrency trading platform ByBit rely on fees to generate income and drive profitability. ByBit rely on a fee structure model very similar to many other competitor exchanges and consists of the following different fees:

Maker / Taker Fees

ByBit operate a maker / taker model similar to most other crypto trading platforms. Orders at market price (market orders) are processed immediately and take liquidity off the order book. Therefore market orders always incur a taker fee. Limit orders on the other hand can be considered as either maker or taker orders because the order doesn’t trigger an immediate buy or sell.

Funding Fees

Funding fees are calculated in the traditional format as follows –

Funding Fee = Position value * Funding rate

As with other popular platforms a funding fee is required to anchor ByBit contract prices to the underlying reference index price and is levied once every 8 hours. The fees are paid directly peer to peer. When the funding rate is positive, long positions pay short and when the funding rate is negative, short positions pay long. The funding rate is a calculation of interest rate and price premium.

Trading Fees

ByBit sometimes charge a trading fee when the order is executed depending on market conditions. Trading fees are taken from user wallets and do not impact the margin or order being placed. If the trading fee calculated is negative then traders receive rebates and when the trading fee is positive traders pay a fee.

ByBit Learn

ByBit platform features a comprehensive learning guide which is both easy to navigate and written in clear to understand English. This comprehensive resource features guides on every cryptocurrency topic relevant to the platform from beginner to expert level and provides updates on a regular basis.

There is also a free subscription service where interested parties can sign up to receive free content and industry updates direct to their email inbox.

ByBit Help Centre

ByBit pride themselves on their extensive customer support function which offers bi-lingual support via Zendesk 24 hours a day, 7 days a week. ByBit users can also access the comprehensive online help centre for all other assistance with their enquiries.

ByBit has a strong social media presence which can also provide help and reassurance in times of need.

ByFi Centre

ByBit also features an innovative and comprehensive DeFi and Cloud Mining resource known as the ByFi Centre. This neatly packaged asset provides everything the burgeoning crypto investment enthusiast requires with the emphasis on ease of use, security and maximum returns. The service is essentially split into 3 areas:

Dual Asset Mining

ByBit describes Dual Asset Mining as a non-principal investment vehicle with floating returns. Making use of Uniswap V3.0 users can earn liquidity mining rewards of upto 290% per annum however risks are high and in the event of adverse market conditions proceeds in the settlement asset may be considerably lower than your proceeds in the staking asset. Due diligence is therefore thoroughly recommended.

DeFi Mining

Using the Curve aggregator platform and with contracts ranging from 7 to 21 days DeFi mining with ByBit offer annualised percentage yields from 11% to 17%. In order to take part in the program users must stake a minimum of 100 USDT.

Cloud Mining

ByBit offer users the opportunity to purchase hashpower from a remote data centre and through shared computing power mine Ethereum without having to run their own hardware. One of the main benefits is ByBit’s near 100% track record of uninterrupted levels of service which along with minimal barriers to entry and flexible terms make Cloud Mining an extremely popular and attractive feature.


In conclusion ByBit is a great example of a modern cryptocurrency derivative trading platform which offers the user a variety of innovative products and services. ByBit cater for both beginner and expert and seem to have a responsible attitude to trading and investing at first glance with an emphasis on customer care and product improvement. However, by offering 50 – 100x leverage on Bitcoin derivative products with little barrier to entry ByBit encourage fast and loose attitudes to trading. Newcomers could easily be attracted by such high leverage and find themselves considerably out of pocket in a very short space of time. Furthermore, ByBit do not require new users to complete KYC verification which essentially means the platform does not have a thorough understanding of who there customers are and where they come from. This is extremely worrying and again underlines the irresponsible and undisciplined approach of the platform. That being said the platform is easy to navigate and offers some innovative products, especially in the DeFi realm.

Users of ByBit should be careful and proceed with self discipline and caution at all times. With this approach users of ByBit may be able to mitigate any significant risk and find a profitable and rewarding cryptocurrency trading experience.