Bybit Review 2027

In October 2026 Bybit Fintech FZE received a full VASP licence from Dubai's VARA for spot exchange services, according to Blockhead. For an exchange that moved its international headquarters to Dubai in 2022, that was a milestone. This Bybit review looks at what the licence means, how the exchange handled its 2025 hack and who its platform is really built for.

A derivatives exchange first

Bybit made its name in perpetual contracts and futures, and that is still where it shines. Liquidity in its derivatives markets is deep, and futures fees are low:

• Futures maker: 0.02%
• Futures taker: 0.055%
• Spot, base tier: 0.10% maker and 0.10% taker

The spot rate is standard for a large offshore exchange. Traders who mainly use futures get the better deal.

A demo trading mode lets you practise with derivatives before risking real money. Given how quickly leveraged positions can be liquidated, it is worth using. Treat demo profits with caution, though, because real money changes how people trade.

Other products

Beyond derivatives, Bybit offers spot, options, margin, Earn products, a P2P marketplace, copy trading, trading bots and a card. CoinGecko tracks 389 coins on its spot market as of November 2026. Pair counts vary widely between sources, so check the markets page for the asset you want.

The February 2025 hack

On 21 February 2025 about $1.5 billion in ETH was stolen from a Bybit cold wallet. The attack was attributed to North Korea's Lazarus Group. It was the largest crypto hack on record until the Binance breach of October 2026.

How Bybit responded matters as much as the loss. It stayed solvent and kept withdrawals open. The exchange said its reserves were fully replenished within days. Bybit also publishes proof of reserves, which lets users check that customer assets are backed.

The episode showed that even cold storage can be breached. It also showed a balance sheet strong enough to absorb a very large shock.

Bybit review of licences and access

Regulation has improved quickly:

• Full VARA licence for spot exchange services in Dubai (October 2026)
• MiCA licence for Bybit EU from Austria's FMA, with an EU headquarters in Vienna (May 2025)
• Further 2027 approvals reported in the Cayman Islands, Indonesia, South Africa and El Salvador

The main company is still registered in the British Virgin Islands, according to CoinGecko. Bybit is not available in the United States, Canada, Singapore or Hong Kong.

For EU residents, the Austrian entity means dealing with a company supervised under MiCA. Users in Dubai now have a fully licensed local spot venue. Elsewhere, your protections depend on which Bybit entity serves you, so read the terms shown during sign-up.

Opening an account

Register, verify your identity and fund the account by crypto transfer or P2P. EU residents are served through the Austrian entity. Start in demo mode if derivatives are new to you.

Our take

• Best for: futures and perpetual traders
• Less suited to: beginners and buy-and-hold investors
• Not available in: the US, Canada, Singapore and Hong Kong

Bybit suits experienced derivatives traders who want low futures costs, deep order books and practice tools. Its recent licences in Dubai and the EU make it a more regulated option than it was a few years ago.

Beginners may find the platform heavy going. The 2025 hack is part of the record, even though the response was strong. If you live in one of the restricted markets, it is simply not an option.

How Bybit compares

Before you sign up, compare Bybit with the other exchanges in our top 20 crypto exchanges ranking, where trust score and 24-hour volume update live. Two useful comparisons are the OKX review and the Upbit review. You can also follow prices on our live crypto charts. Fees, licences and coin lists change often, so check the current terms on the official site at bybit.com before you deposit.