What Is Bybit- Features & History
Bybit is a cryptocurrency exchange platform founded in 2018, known for its focus on derivatives trading, including perpetual contracts, futures, and options. It supports popular assets like Bitcoin (BTC), Ethereum (ETH), and USDT pairs, and has recently expanded to offer spot trading, copy trading, staking, and even a Web3 wallet.
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Perpetual & Futures Trading – Trade BTC, ETH, and altcoins with leverage up to 100x.
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Spot Trading – Buy and sell crypto directly with low fees.
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Launchpad – Access early token sales of promising projects.
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Copy Trading – Follow professional traders automatically.
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Web3 Wallet – Manage DeFi assets securely within the Bybit ecosystem.
Bybit has grown to serve over 20 million users worldwide and consistently ranks in the top exchanges by daily trading volume.
Is Bybit Safe? Know More about Bybit Security
Safety is the first question most traders ask — and it’s a valid one. Bybit has invested heavily in platform security to protect users’ funds.
Security Measures at Bybit
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Cold Wallet Storage – Most user funds are kept offline in multi-signature cold wallets, minimizing hacking risks.
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Real-Time Monitoring – 24/7 platform surveillance to detect suspicious activity.
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Withdrawal Verification – All withdrawals are manually reviewed to prevent fraud.
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Advanced Encryption – Uses SSL and end-to-end encryption to secure user data.
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Insurance Fund – Protects users from negative balance risk during extreme market volatility.
Afterwards, Bybit is considered one of the more secure crypto exchanges. Its track record shows no major security breaches since its launch. However, as with any centralized exchange, users should still enable 2FA (Two-Factor Authentication) and avoid keeping all funds on the exchange.
Bonus: Are Bybit Verified Accounts Safe?
Yes — in fact, getting your account verified makes it more secure.
Benefits of Bybit KYC (Verification)
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Higher Withdrawal Limits – Up to 100 BTC per day.
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Access to Launchpad & Rewards Hub – Participate in token sales and promotions.
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Better Security – Verifying your identity makes account recovery easier if you lose access.
How Bybit Handles Your Data
Bybit states that all KYC data is encrypted and stored securely, and it is only used for compliance with AML (Anti-Money Laundering) laws. It does not share your data with third parties for marketing purposes.
Is Bybit Legal in All Countries?
Many users have turned to a free proxy VPN - UFO VPN to use Bybit for personal use. However, the legality of Bybit depends on your country’s cryptocurrency regulations.
Countries Where Bybit Is Legal
Bybit operates legally in most jurisdictions including Europe, Asia, Africa, and South America. It is registered in the British Virgin Islands and adheres to global KYC/AML regulations for user verification.
Countries Where Bybit Is Restricted
Bybit does not allow users from the following regions:
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United States
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Canada (Quebec)
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Singapore
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Mainland China
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North Korea, Iran, Cuba, Syria, Crimea
Residents of these countries are officially restricted from opening an account or trading.
UFO VPN - The best free VPN helps:
Discover Apps Like Bybit for Backups
If you want to explore alternatives to Bybit, several exchanges offer similar features. Each of these platforms below has its own compliance rules, so check availability in your country before signing up.
| Exchange | Pros | Best For |
| Binance | Largest exchange by volume, supports futures, spot, staking, copy trading | Users looking for a full-featured crypto hub |
| OKX | Advanced trading tools, DeFi integrations, launchpad | Experienced traders |
| KuCoin | Wide range of altcoins, low fees, futures trading | Altcoin hunters |
| Bitget | Copy trading, perpetual contracts, low slippage | Social trading fans |
| Gate.io | Early token listings, NFTs, perpetual contracts | Users seeking new project exposure |
The Future of Bybit
Bybit is rapidly expanding its services to compete with giants like Binance. Its focus on innovation — including AI-powered trading tools, crypto loans, and Web3 features — signals that it aims to stay at the forefront of the crypto industry.
As regulations tighten worldwide, Bybit’s commitment to compliance and security is expected to make it an even more trusted platform for traders.
FAQs
What Happens If My KYC Fails?
You can resubmit your documents. Your funds remain safe, but you may have limited withdrawal ability until verification passes.
Is Bybit a Good Platform for Beginners?
Yes. Bybit has a clean UI, copy-trading feature, and an education hub for new users. But beginners should start with spot trading before using leverage.
How Does Bybit Compare to Binance?
Bybit is smaller but highly focused on derivatives trading with simpler UI and lower downtime during market volatility. Binance offers more products overall but can feel overwhelming.
What Are the Best Alternatives if Bybit Is Not Available in My Country?
Binance, OKX, KuCoin, and Bitget are strong options. For decentralized trading, consider Uniswap or dYdX if you prefer not to use a CEX.
