How to Use Bybit in 2026: Sign Up, KYC, Deposit & First Trade
Key takeaways
- 86M+ registered users — a large international crypto exchange by published user count; rankings can change.
- New-user tasks and rewards vary by account, region, and campaign; open the current promotion page in your own account before relying on any amount.
- Spot fees 0.1%; perpetual contracts 0.055% taker / 0.02% maker — MNT discount knocks ~25% off spot and ~10% off contracts, but only inside the Unified Trading Account (UTA). Do not rely on older BIT discount claims; check the current official fee schedule for your account.
- KYC daily withdrawal limits: ~1M USDT at L1, ~2M USDT at L2.
- Feb 2025 hack: ~$1.46B was affected in the reported security incident; Bybit reported covering the ETH shortfall within 72 hours. Check the latest official PoR rather than treating that response as a future guarantee.
- Risk note: contract default leverage is high. Beginners should drop it to 2–5x and set a hard stop-loss on every trade.
- Beginner route: sign up, complete KYC, fund with a small test amount, then start with Spot before trying leverage.
How we tested Bybit: On August 11, 2026, we navigated the English Bybit Android app through account security, KYC status, Markets → Spot, deposit coin and network selection, and the on-chain withdrawal form. We did not submit a trade or withdrawal. The mobile screenshots in this guide come from that session; account details, balances, addresses, and QR codes were masked before publication.
Availability note: Bybit’s official Restricted Countries list names the United States explicitly, alongside mainland China and Hong Kong — US residents cannot open a Bybit account. The sign-up links below are for readers outside the United States. If you’re reading this from the US, skip to the FAQ section for what that means and where to look instead.
For the separate deposit and withdrawal walkthrough, see the Bybit Deposit & Withdrawal guide.
What Is Bybit?
Founded in 2018, Bybit has grown into a large international crypto exchange by published registered-user count. With 86 million+ accounts and deep liquidity across spot and derivatives markets, it offers the tight spreads on BTC and ETH that matter most to active traders. Here’s the snapshot before we go deeper:
| Item | Detail |
|---|---|
| Founded | 2018 |
| HQ / Registration | International exchange; the applicable entity and product access depend on your residence and account |
| Registered users | 86M+ |
| Products | Spot, Perpetual / Delivery Futures, Options, Copy Trading, Earn, Bybit Card, Web3 |
| Global availability | Available in most countries — check local rules before depositing |
| Proof of Reserves | Hacken Merkle Tree PoR, major assets >100% (independently verifiable) |
| Support | multilingual support channels; availability can vary |
What matters most in practice is liquidity depth. Major pairs generally offer deeper order books, but the spread and available depth still need to be checked before every order. For obscure altcoins, you’ll want to check order book depth before placing anything above a few thousand dollars.
Is Bybit Safe? The 2025 Hack Explained
The question everyone asks first: in February 2025, Bybit suffered a security incident in which roughly $1.46 billion was affected. What happened next is what actually determines trustworthiness.
After the 2025 hack, the practical check is Bybit’s official incident timeline together with the latest PoR report. Reserve ratios dated to a specific report are more useful than a generic security promise, but they are not a guarantee against future operational risk.
Bybit said it covered the ETH shortfall within 72 hours after the incident. That describes the reported response to that event, not a guarantee that future incidents or withdrawals will be risk-free; check the current official Proof of Reserves report and your own account status.
| Metric | Bybit | Typical Mid-Tier Exchange |
|---|---|---|
| Proof of Reserves | Third-party PoR, verifiable | Usually absent or unpublished |
| Hack response | ETH shortfall reportedly covered within 72h | A major incident may lead to withdrawal restrictions; recovery timing is not guaranteed |
| Liquidity depth | Extremely deep on major pairs | Notable slippage on larger orders |
| Support languages | Multiple, 24/7 | Varies |
- Enable 2FA, withdrawal whitelist, and anti-phishing code — do all three before depositing a single dollar.
- Risk-control delays are normal: large or unusual withdrawals may take extra review time. That’s compliance, not insolvency.
- Self-custody principle: only keep on Bybit what you actively plan to trade. Long-term holdings belong in a hardware wallet.
How to Create a Bybit Account
The basic signup form is short, but email verification and KYC can take longer. Use the official registration page, select your real country of residence, and confirm any current campaign terms in the account before depositing.
- Open the Bybit invite link on your phone or desktop. Select your country of residence when prompted.
- Enter your email address or phone number. If the referral field appears, confirm it shows a green checkmark before creating the account.
- Set a strong password, then verify your email or phone via the code Bybit sends.
- Log in and immediately enable 2FA (Google Authenticator or SMS) from account settings.
- Proceed to KYC — you’ll need it to unlock withdrawals.
If the invitation field does not show as linked, return to the sponsored registration link before creating the account. Rewards and eligibility vary by region and campaign, so check the terms shown inside your own account.
After entering the email, set a unique password and wait for the verification code. The labels may change slightly between web and app, but the order is the same.
Enter the one-time code sent to your email, then log in and turn on 2FA before depositing funds.
KYC & Withdrawal Limits
Bybit uses a tiered KYC system. You can browse the platform without verifying, but on-chain withdrawals are locked until you pass at least Level 1. For most retail traders, L1 is all you’ll ever need.
| Level | Documents Required | Daily Withdrawal Limit |
|---|---|---|
| Unverified | — | Cannot withdraw on-chain |
| L1 Personal | Government-issued ID + face scan | ~1M USDT |
| L2 Advanced | L1 + proof of address | ~2M USDT |
KYC level: complete the minimum needed for your withdrawals
Accepted documents at L1 include a passport, national ID, or driver’s license. Bybit’s official Individual KYC FAQ says processing is often around 15 minutes, but additional review can take up to 48 hours. Upgrade to L2 only when the account screen shows that you need the higher limit; do not treat the estimate as a guarantee.
What Can You Trade on Bybit?
| Product | Best For | Key Facts |
|---|---|---|
| Spot | Long-term holders / beginners | a broad range of trading pairs, 0.1% fee |
| Perpetual Futures | Experienced swing traders / hedgers | High leverage, two-way positions, high risk |
| TradFi / US stock CFDs | Eligible users seeking stock price exposure | CFD contracts, not shares; no shareholder rights. Check the spread, commission, margin, and overnight swap before trading. |
| Copy Trading | Passive traders without time to monitor | Follow pro traders — losses are still yours |
| Bybit Earn | Idle capital | Flexible and fixed terms, floating APR; review terms and redemption conditions |
| Bybit Card | Eligible users who want spending or ATM access | Separate application; eligibility, supported countries, currencies and fees vary by region |
Bybit TradFi US stock exposure is a CFD, not a share
Bybit TradFi can offer US stock CFD contracts where the product is available. A CFD tracks the price; it does not give you the underlying share, voting rights, or shareholder ownership. Before opening a position, check the current spread, any per-order commission, margin requirement, and swap or overnight fee. Zero-Fee mode can include the trading cost in the spread, while Tight-Spread mode uses a commission schedule, so compare the account mode rather than assuming “zero fee” means zero cost. Product access and leverage depend on eligibility and the current official terms.
Start with Spot before using leverage
In the app, open Markets → Spot, choose the pair you actually want, then read the order form from top to bottom. A limit order gives a beginner more price control; a market order prioritizes immediate execution and the final fill can move when liquidity is thin.
| Screen area | What to check before tapping Buy |
|---|---|
| Trading pair | Confirm both assets, for example BTC/USDT, so you do not buy the wrong market. |
| Buy / Sell | Check that the correct side is selected before entering any amount. |
| Order type | Limit lets you set a price; Market aims to fill immediately at available prices. |
| Price and quantity | Review the unit, decimal places, quantity, and estimated order value together. |
| Available balance | Make sure the asset is available in the trading account and start with a small amount. |
Futures are Bybit’s signature product — but they’re also where new traders blow up fastest. If leverage is used at all, a conservative starting rule is around 2–5x with a hard stop-loss defined before opening the position. The default leverage is set much higher; if you ignore it, a single volatile candle can wipe out your margin. Start with spot or very small position sizes until you understand how funding rates and liquidation prices work.
Bybit Fees: What You’ll Actually Pay
Start with Bybit’s official trading-fee schedule; trading fees and on-chain withdrawal fees are only part of the cost. The official Unified Trading Account (UTA) guide explains how spot, perpetuals, and options margin sit inside one account structure, which can reduce transfers between product balances but makes collateral, margin, and liquidation settings more important to understand. The UTA/MNT discount depends on the current account schedule; the older BIT discount should not be assumed. Add spread, conversion cost, withdrawal cost, and—when using perpetuals—the funding rate before comparing two routes.
| Trade Type | Maker | Taker | With MNT Discount (UTA) |
|---|---|---|---|
| Spot | 0.1% | 0.1% | ~25% off (UTA required) |
| Perpetual Futures | 0.02% | 0.055% | ~10% off (UTA required) |
Funding rate is separate from the trading fee
For perpetual contracts, funding is a periodic transfer between long and short positions, not a maker/taker execution fee. The basic calculation is position value × the current funding rate: a 10,000 USDT position at 0.01% means 1 USDT for that settlement. The rate changes with the market; check Bybit’s official funding-rate explanation. Different contracts may settle every 1, 2, 4, or 8 hours; some conditions can change the interval. Check the current rate, next settlement time, position value, and payment direction on the contract screen before opening a leveraged trade.
How to calculate the real trading cost
For each transfer, compare the current withdrawal fee, network cost, conversion or spread, and the amount that will arrive. The figures below are route examples, not fixed promises.
| Asset / Network | Approx. Withdrawal Fee | Notes |
|---|---|---|
| USDT (TRC20) | Check the current fee | Fast, cheap, widely supported |
| USDT (BSC / BEP20) | Low | Good choice for on-chain transfers |
| USDT (ERC20) | Variable | Depends on Ethereum gas — can spike |
Next step: Before moving funds, follow the Bybit Deposit & Withdrawal guide for network matching, minimum deposits, fees, and a small-test-transfer checklist.
How to Deposit & Withdraw on Bybit
Use the app for both flows and do a small test transfer first. If you want the longer version with route-by-route checks, open the Bybit Deposit & Withdrawal guide.
Deposit crypto from another exchange or wallet
- In the Bybit app, open Assets → Deposit → Deposit Crypto.
- Select the coin you are sending. The example below uses USDT.
- Select a network supported by both the sender and Bybit. BSC (BEP20) is highlighted as an example — never choose it unless the sending platform also shows BSC/BEP20.
- On the deposit screen, recheck the coin, network, minimum deposit, and required confirmations. Copy the live address from your own app; the address and QR in our screenshot are deliberately hidden.
- Send a small test amount, wait for it to arrive, and only then send the remainder.
Do not copy an address from this article. Always copy the current address from your own Bybit app, and check the first and last characters before sending.
Withdraw on-chain without mixing up the route
- Open Assets → Withdraw and select the asset you actually hold.
- Choose On-Chain for an external wallet or another exchange. Internal Transfer is only for another Bybit UID, email, or mobile account.
- Paste the destination address, select the exact same network shown by the receiving platform, and enter the amount.
- Review the withdrawal fee, amount received, address, and network. Send a small test first; this walkthrough stops before the final confirmation and does not execute a withdrawal.
Bybit Mobile App
Bybit Card: an optional separate application
Bybit Card is not automatically included with a trading account. It requires a separate application, and eligibility, supported countries, currencies, issuance or withdrawal fees, and limits depend on the current regional card program. Treat it as a separate spending product and check the application screen and terms for your residence.
Mobile app order flow
Bybit’s mobile app (iOS and Android) handles everything: spot and futures trading, the fiat on-ramp, Bybit Earn, Bybit Card management, and the new-user reward center. A Lite / Pro toggle keeps the interface approachable for beginners without hiding the advanced order types experienced traders need. For day-to-day monitoring and smaller orders, the app is usually the more practical interface; larger or more complex orders still warrant checking the full order form and order-book depth.
Practical Verdict: Is Bybit Worth Using?
Who gets the most value from Bybit?
Bybit works best as an operating exchange for spot and perpetuals. The combination of deep liquidity and a documented incident response is useful, but it is not a universal default: product access, fees, and restrictions depend on the reader’s residence and account. Here’s how to get the most out of it:
- Open the UTA and hold MNT to unlock fee discounts — especially worthwhile if you trade futures regularly.
- Use BSC for on-chain deposits to minimize transfer costs versus ERC20.
- Drop leverage to 2–5x on every contract trade and set a hard stop-loss. Bybit’s default is far higher — ignoring this is the number-one way beginners lose their deposit.
- Always test-withdraw a small amount first, especially the first time you’re moving funds through a new network path.
- Keep checking the PoR — it takes 30 seconds and gives you an objective read on reserve health.
Who is Bybit not a good fit for?
- People who need a locally regulated platform with local legal protections.
- People who need direct local-currency bank funding and do not want an extra transfer route.
- People planning to keep large long-term holdings on an exchange without using self-custody.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always DYOR before making financial decisions.
Frequently Asked Questions
Is Bybit available in your country?
Bybit operates as a global overseas exchange, but it maintains an official Restricted Countries list. The United States is explicitly named on that list — US residents cannot open an account, full stop. Outside the US, availability is broad but still varies by country, so always check Bybit’s current Restricted Countries page and Terms of Service for your specific location before depositing.
Why isn’t Bybit available in the US? Is it illegal?
Bybit’s official Restricted Countries page lists the United States, so US residents should not open or fund a Bybit account. This article does not make a legal conclusion about US law or speculate about why Bybit chose that policy. If you are in the US, use a platform that explicitly serves your jurisdiction and check current official terms; never bypass a geographic restriction with a VPN or foreign ID.
Is Bybit safe after the February 2025 hack?
Bybit suffered a February 2025 security incident involving roughly $1.46B; this article does not assign an unsupported historical ranking. Bybit reported covering the ETH shortfall within 72 hours. That is an account of the reported response to that incident, not a promise of full reimbursement, uninterrupted withdrawals, or future safety; check the current official Proof of Reserves report and your own account status. You can independently verify your assets are included in the Merkle tree proof.
What are Bybit’s trading fees?
Spot trading is 0.1% maker/taker. Perpetual futures are 0.02% maker and 0.055% taker. Opening the Unified Trading Account (UTA) and holding MNT tokens gives you roughly 25% off spot fees and about 10% off contract fees. Do not rely on older BIT discount claims; check the current official fee schedule for your account.
How do I withdraw money from Bybit?
Open Assets → Withdraw and choose On-Chain for an external wallet. Enter the destination address, select the exact same network used by the receiving wallet, enter the amount, and review the displayed fee before confirming. Start with a small test withdrawal. Bank or local-fiat cash-out options vary by region and account.
What is the Bybit new-user bonus?
New users who register through an invite link may see tasks or rewards in the Rewards Hub. Availability, eligibility, and any amount depend on the account, region, and current promotion; open the promotion terms in your own account before relying on them.
What KYC documents does Bybit require?
Level 1 KYC requires a government-issued photo ID (passport, national ID card, or driver’s license) plus a face scan. This unlocks a daily withdrawal limit of approximately 1 million USDT. Level 2 adds proof of address and raises the limit to approximately 2 million USDT per day.
Is Bybit suitable for beginners?
Bybit’s Lite mode and spot market are beginner-friendly. The main caution is the futures section: default contract leverage is high, and beginners who don’t adjust it manually risk losing their entire deposit on a single move. Start with spot trading, learn how leverage and liquidation work, then consider small-position futures trading only after you’re comfortable.
What is the Unified Trading Account (UTA) and should I use it?
The UTA consolidates your spot, futures, and options margin into a single account, improving capital efficiency. It also unlocks the MNT fee discount — approximately 25% off spot fees and 10% off contract fees. If you trade across multiple product types, switching to UTA is generally worthwhile. The conversion is one-way, so review the differences on Bybit’s Help Center before switching.
Further Reading
- Bybit Deposit & Withdrawal: Step-by-Step Guide
- Bybit Card Review: Crypto Spending Made Simple
- Compare All Crypto Exchanges
Compliance & Risk Disclosure: Bybit is a global overseas crypto exchange. Availability, on-ramp options, and applicable regulations vary by jurisdiction — confirm the rules in your country before depositing. This article reflects personal testing and publicly available information. Last updated: August 2026. It does not constitute investment, legal, or financial advice. Crypto assets are highly volatile. Derivatives carry additional leverage risk. Trade only what you can afford to lose and always conduct your own due diligence.
Disclosure: This article contains affiliate links. We may earn a commission at no extra cost to you if you sign up through our links. This does not influence our editorial recommendations.
