✍️ Author: Karel Havlíček – Bitcoin Analyst & Editor · 📅 Updated:
What Bybit is and who it is for
Bybit ranks among the world’s largest crypto exchanges (since 2018) and is known above all for derivatives – futures, perpetuals, leverage. Spot purchases carry a fee around 0.1%, one of the lowest on the market.
Let’s be blunt: for a first bitcoin purchase we do not recommend Bybit. The interface is packed with trading tools that tempt beginners into leveraged gambling. If you just want to buy and hold BTC, go to Anycoin or Kraken. Bybit is a tool for the experienced.
- Active traders needing derivatives and deep liquidity
- Advanced users hunting the lowest spot fees
- Anyone needing a wide selection of altcoins and pairs
- NOT beginners and NOT long-term savers
The 2025 hack: a test Bybit survived
In February 2025 Bybit was hit by the largest crypto hack in history – attackers (attributed to the Lazarus Group) stole roughly $1.5 billion of ethereum from a cold wallet. Why put this in a review? Because the response was unprecedented: Bybit covered the loss fully from its own reserves, never halted withdrawals, and no client lost funds.
Two lessons. First: Bybit proved solvency in the worst crisis an exchange can face. Second: even a giant with cold storage can be hacked – one more argument why long-term savings belong in your own wallet, not on any exchange.
Fees and EU regulation
Spot fees around 0.1% (maker/taker), derivatives lower still. Card deposits carry a markup; crypto deposits or SEPA (where available) are cheaper. In 2025 Bybit obtained a MiCA licence via a European entity and serves EU clients in a regulated setup – verify the current status and product availability for your country on the website.
⚠️ Leveraged trading can wipe out your entire deposit within minutes. Most retail traders lose money on derivatives. Never trade with leverage money you cannot afford to lose.
How to start (if you know what you are doing)
- Register via the link below and complete KYC.
- Deposit funds (crypto deposit or fiat methods for your country).
- For a plain BTC purchase use Spot – not Derivatives.
- Enable 2FA and address whitelisting.
- Regularly withdraw long-term positions to your own wallet.
🎬 Video tutorials for Bybit (YouTube)
✅ Pros
- Among the lowest spot fees (~0.1%)
- Huge liquidity and pair selection
- The 2025 hack fully covered from own reserves
- MiCA licence for EU clients (2025)
- Advanced trading tools
⚠️ Cons
- Unsuitable for beginners – the interface tempts into leverage
- Derivatives = high risk of losing the entire deposit
- The 2025 hack showed even giants are not untouchable
❓ Frequently asked questions
Is Bybit safe after the 2025 hack?
The ~$1.5B hack was history’s largest, but Bybit covered the loss fully from its own reserves and no client lost anything. Solvency proven; still keep long-term savings in your own wallet.
Is Bybit suitable for beginners?
No. The interface is built for trading and tempts users into leveraged trades, on which most retail users lose. For a first purchase we recommend Anycoin or Kraken.
What are Bybit’s fees?
Spot around 0.1% maker/taker, derivatives lower. Card deposits carry a markup. Verify current rates on the website.
Is Bybit legal in the EU?
In 2025 it obtained a MiCA licence via a European entity and serves EU clients in a regulated setup. Product availability varies by country – check the website.
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