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Source-backed analysis9

Review basis

Research-based review: the AppDuo Editorial Team compiled it from official pages, documentation, app stores, press and user feedback, without hands-on testing. Every claim links to a source with the date it was checked.

9 reference sources

Information updated Nov 10, 2026

How we review
Bybit logo

Bybit Review

A crypto exchange strong in derivatives, hit by a USD 1.5 billion hack in 2025

Editorial Team7.1/10Write the first review

By Official AppDuo editorial team · Updated

  • Web
  • iOS
  • Android
  • API
Free · Free
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Decide at a glance

Our verdict

Bybit suits experienced crypto traders who want spot, derivatives and options in one app, with a base spot fee of 0.1% maker and taker at VIP 0. Weigh price risk, differing legal status by country, and the roughly USD 1.5 billion ETH theft in February 2025.

Best for: Experienced traders who need perpetuals, futures and options

Skip it if: Beginners who do not yet understand leverage and price risk

Pros

  • Google Play 4.6/5 from about 1.43 million reviews; Vietnamese App Store 4.3/5 (16,771 ratings)
  • Spot, perpetuals and futures, options, US stocks, forex, copy trading, bots, API and buy-now-pay-later in one account
  • Monthly Proof of Reserves verified by Hacken; the 35th report (April 2026) showed reserve ratios above 100% for USDT, USDC, BTC and ETH

Cons

  • On 21 February 2025 about USD 1.5 billion in ETH was stolen; the FBI attributed it to North Korea's Lazarus Group
  • Per Wikipedia, regulators in several countries have acted: the Netherlands fined it EUR 2.25 million (October 2024), India INR 92.7 million (January 2025), and Malaysia ordered it to stop operating (December 2024)
All pros and cons · Who is it for?

Pros

  • Interface in 11 languages, including English, Vietnamese, Japanese, Korean and Chinese

Cons

  • Has withdrawn from markets such as the UK (2021) and Canada (2023); in Vietnam the crypto-asset market is still in a pilot phase, so check the legal status where you live
  • Derivatives and leverage are high-risk and crypto prices are very volatile

Best for

  • Users who want Proof of Reserves reports checked by an outside firm

Skip it if

  • Anyone who needs a clearly licensed service where they live; check local legal status before using it

Problems it solves

Experience & key features

What it is

Bybit is a crypto exchange founded by Ben Zhou in 2018 in Shanghai, which moved its headquarters to Dubai in 2022, per Wikipedia. The app has been on the App Store since January 2020; the App Store description cites over 78 million users, while Google Play and an April 2026 press release say over 80 million. Beyond crypto, the official menu lists stocks, CFDs, a wallet, loans and buy-now-pay-later, and the Google Play description adds forex, copy trading and trading bots.

Fees and value

Per the official fee structure page (updated 5 November 2026), VIP 0 pays 0.1% for both maker and taker on crypto-crypto spot, 0.02% maker and 0.055% taker on perpetuals and futures, and 0.02% and 0.03% on options. VIP level follows assets or 30-day volume. Bybit states actual rates can vary by region, so check your My Fee Rate page after identity verification.

Safety and risk

On 21 February 2025 about USD 1.5 billion in ETH was stolen from a Bybit cold wallet; on 26 February the FBI attributed it to North Korea's Lazarus Group (TechTarget). Bybit said it replenished reserves within 72 hours (Wikipedia). The company publishes monthly Proof of Reserves verified by Hacken; the 35th report (balances as of 22 April 2026) showed 107% for USDT, 159% for USDC, 109% for BTC and 102% for ETH. These figures are published by Bybit via press release, so check the original report.

More analysis

Legal status and comparison

Per Wikipedia, Bybit holds EU MiCA authorisation via Austria (May 2025) and a full licence in the UAE (October 2025), but in June 2026 the Monetary Authority of Singapore (MAS) added it to its investor alert list; Bybit said it was in talks with MAS. Vietnam issued Resolution 05/2025/NQ-CP on a pilot crypto-asset market. On 4 June 2026 Deputy Prime Minister Nguyen Van Thang received Bybit CEO Ben Zhou and said the government welcomes foreign firms partnering with Vietnamese businesses during the pilot under strict criteria; the article does not say Bybit has been licensed. Next to Binance, OKX or Coinbase, Bybit stands out in derivatives; choose by real fees, your local legal status and each exchange's compliance record.

Screenshots

First promotional screenshot on the App Store
First promotional screenshot on the App Store
Second promotional screenshot on the App Store
Second promotional screenshot on the App Store
Third promotional screenshot on the App Store
Third promotional screenshot on the App Store

Plans & pricing

Prices last verified Nov 10, 2026

VIP 0 (Non-VIP)

Personal

Free

Signing up and using the app is free; fees are charged per trade. Base VIP 0 schedule: spot (crypto-crypto pairs) 0.1% maker and 0.1% taker; perpetual and futures contracts 0.02% maker and 0.055% taker; options 0.02% maker and 0.03% taker. Bybit notes actual rates can differ by region.

Free plan limits
VIP level is set by asset balance or 30-day trading volume; meeting either criterion is enough, and the higher tier applies. The rate actually applied to your account is shown on the My Fee Rate page after identity verification.
Free trial
No free trial
Cancellation & refunds

Not applicable. Executed crypto trades are generally not refundable.

Privacy

The Google Play Data safety section (self-declared by Bybit) says no data is collected or shared with third parties, data is encrypted in transit and deletion can be requested. The “no data collected” claim is hard to square with practice: identity verification is required for full use, so you still hand over identity documents. This research did not cross-check Bybit's full privacy policy.

Official pricing page

Bybit alternatives

OKX logo7.2/10

OKX

A large crypto exchange with a Web3 wallet, but a US legal-compliance record to weigh

Free
Binance logo7.2/10

Binance

Large crypto exchange with a 0.1% base spot fee, under legal and security scrutiny

Free

Frequently asked questions

Does Bybit charge fees?

Registration is free but trading carries fees. Per the fee schedule, VIP 0 pays 0.1% maker and 0.1% taker on crypto-crypto spot; actual rates can vary by region.

Has Bybit been hacked?

Yes. On 21 February 2025 about USD 1.5 billion in ETH was stolen; the FBI attributed it to North Korea's Lazarus Group. Bybit said it restored reserves within 72 hours.

Does Bybit offer Vietnamese?

The App Store lists Vietnamese among many other languages.

Is Bybit licensed in Vietnam?

The sources checked do not confirm that Bybit holds a licence in Vietnam. Check regulators' lists of licensed firms before using it.

Review evidence & sources9

Scores

Ease of use
7.2
Why this score

High ratings on both stores (4.3 and 4.6), but the app bundles complex products such as derivatives, options and CFDs that can overwhelm newcomers.

Features
8.6
Why this score

Spot, perpetuals and futures, options, US stocks and forex, copy trading, trading bots, wallet, loans, API and pay-later per the official menu and app description.

Value for money
8.0
Why this score

Base spot fee of 0.1%/0.1%, in line with other large exchanges; perpetual fees are low (0.02%/0.055%) and VIP tiers cut costs. Marked down because Bybit says actual rates can differ by region.

Performance
6.6
Why this score

Updated regularly (version 5.28.5 on 4 Nov 2026) but no independent uptime data was found. The roughly USD 1.5 billion loss in February 2025 is a serious operational failure, even though Bybit says it restored reserves within 72 hours.

Support
6.5
Why this score

An extensive help center, though a March 2026 Google Play review says it is hard to reach someone quickly in an urgent case; no independent data on response times.

Privacy & security
5.7
Why this score

The self-declared label claims no collection, no sharing and encryption in transit, but KYC is mandatory, so the “no data collected” claim is hard to rely on; the full policy was not cross-checked.

What users say

Sources

Specs & compatibility
Developer
Bybit
Headquarters
United Arab Emirates
Launched
2018
Category
Finance

Capabilities

  • Mobile app
  • Public API
  • Integrations

Platforms

  • Web
  • iOS
  • Android
  • API

Interface languages

  • Vietnamese
  • English
  • Japanese
  • Chinese
  • Spanish
  • French
  • Korean
  • Portuguese
  • Russian
  • Thai
  • Indonesian

Integrations

  • Bybit Pay
  • MT5
  • TradingView

Support

  • Live chat
  • Help center
  • Email

Change history

  1. Company.Vietnam's Deputy Prime Minister receives Bybit's CEO to discuss cooperation during the crypto-asset market pilot.
  2. Update.Bybit releases its 35th Proof-of-Reserves report, verified by Hacken, with reserve ratios above 100% for the main assets.
  3. Update.About USD 1.5 billion in ETH is stolen; on 26 February the FBI attributes it to North Korea's Lazarus Group.
Full change history (6)
  1. Company.Bybit moves its headquarters to Dubai (2022, per Wikipedia).
  2. Launch.The first app release appears on the App Store (release date per iTunes lookup data).
  3. Launch.Bybit is founded by Ben Zhou in Shanghai (2018, per Wikipedia).
About the author

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