Bybit review 2026

Bybit in brief for Australian traders

Bybit offers spot trading and derivatives. Its terms exclude the jurisdictions on its Excluded Jurisdictions list, and Australia is not on that list (Bybit help centre). Its deposit routes are crypto and the fiat currencies on its list, and AUD is not among them (Bybit help centre). The records show no Bybit entity on AUSTRAC's Virtual Asset Service Provider Register (AUSTRAC register). Bybit's own notice states its content is not directed at persons in Australia (Bybit terms). ASIC says Australia's licensing regime for digital asset platforms applies from April 2027 (ASIC).

The fee pages list a 0.1% VIP 0 rate for both makers and takers on crypto-to-crypto spot pairs, and the worked example on this page puts the taker fee at about 1.00 USDT on a 1,000 USDT market buy of Bitcoin (fee structure). On 21 February 2025 attackers took control of one Bybit Ethereum cold wallet, with Bybit putting the loss at about US$1.46 billion, and the FBI attributed the theft to North Korea (Bybit timeline, FBI). Bybit's proof-of-reserves snapshot is dated 23 September 2026 (reserves), and FIU-IND fined Bybit Fintech Limited ₹9.27 crore (about INR 92.7 million) on 31 January 2025 (PIB).

Bybit AUSTRAC registration and access from Australia

We searched AUSTRAC's Virtual Asset Service Provider Register for "Bybit" on 9 October 2026. The search returned one record: Investbybit Pty Ltd, whose trading names are Binance Australia and Investbybit (AUSTRAC). That company trades as Binance Australia, and no Bybit company is on the register. Bybit pages served to a visitor in Australia show the notice "This content is not directed at persons in Australia." (Bybit terms). The legal terms served to an Australian visitor are the BVAPO Platform Terms and Conditions of Bybit Virtual Asset Platform Operator L.L.C. S.P.C, and they name no Australian company (Bybit terms).

Australia is not on Bybit's list of Excluded Jurisdictions, which the help centre updated on 13 October 2026 (Bybit help centre). Bybit's Australian Product Disclosure Statement, Financial Services Guide, Target Market Disclosure and Cardholder Terms, listed in a help centre article updated 10 June 2026, are documents for the Bybit Card, a payment card issued by Fly Wallet Pty Ltd, not for the exchange (Bybit help centre).

Bybit spot trading fees

Bybit's help centre publishes the base VIP 0 spot fee structure for crypto-to-crypto trading on Bybit.com. The percentage fee is only part of an order's cost: the bid/ask spread and slippage also affect the price you receive, independently of the published rate.

The table shows the published base schedule, excluding VIP discounts, fees paid in MNT, fiat-crypto pairs, the Adventure Zone, xStocks and derivatives; fiat pairs and special zones have their own published tables. Bybit states that the actual rate may vary by region. Spot trading fees are not funding or withdrawal charges.

Bybit taker fee on a 1,000 USDT Bitcoin market buy

The worked example below computes the trading fee on a market buy of Bitcoin with 1,000 USDT on the BTC/USDT pair at the VIP 0 taker rate of 0.1%. It is this website's own arithmetic from Bybit's published fee pages and its public order book, read at 03:54 UTC on 9 October 2026. The result is a fee of about 1.00 USDT, taken in Bitcoin: 0.00001214 BTC on a purchase of 0.01213566 BTC, leaving 0.01212352 BTC credited.

• Fee rates: Bybit Trading Fee Structure, page updated 2 September 2026
• Fee formula and fee currency: Spot Trading: Fees Explained, page updated 10 September 2026
• Price and order size: Bybit public market data, BTC/USDT order book (API v5), read at 03:54 UTC on 9 October 2026
• Not included, withdrawal fees: shown per coin and network in the withdrawal window (withdrawal FAQ, updated 12 April 2026)
• Not included, AUD conversion: AUD is not on Bybit's fiat deposit list (updated 28 August 2026)

Bybit coins, spot trading pairs and derivatives

Bybit's public market data, read at 05:58 UTC on 14 October 2026, listed 527 spot pairs trading across 390 base assets (Bybit market data). Of these, 389 pairs are quoted in USDT, 82 in USDC and 18 in EUR; 11 pairs are in Bybit's xStocks category and 3 sit in the Adventure Zone. No pair is quoted in Australian dollars. The minimum BTC/USDT order is 5 USDT.

Bybit deposit currencies, AUD and withdrawals

Bybit's list of supported fiat deposit currencies, updated 28 August 2026, covers BRL, EUR, GBP, USD (QuickPay for users in El Salvador and SWIFT from non-US banks), MXN, PLN, CHF, AED and others; AUD is not on the list (Bybit help centre). Fiat deposits require identity verification (Bybit help centre). Fees and processing times appear when a payment method is chosen (Bybit help centre).

Bybit trading platforms, tools and market data API

Bybit security record and regulator actions

February 2025 theft

On 21 February 2025 attackers took control of one Bybit Ethereum cold wallet during a routine transfer to a warm wallet, by spoofing the interface of the Safe multisig wallet used by its signers. Bybit put the loss at about US$1.46 billion: 401,347 ETH, 90,375 stETH, 15,000 cmETH and 8,000 mETH, and reported that 99.994% of more than 350,000 withdrawal requests were processed within 10 hours; these are Bybit's own figures from its incident timeline published 3 March 2025 (Bybit).

The US Federal Bureau of Investigation stated on 26 February 2025, in alert I-022625-PSA, that North Korea was responsible for the theft of about US$1.5 billion in virtual assets from Bybit on or about 21 February 2025, and called the activity "TraderTraitor" (FBI).

Custody and proof of reserves

Bybit's deposit FAQ, updated 14 August 2026, says only a small percentage of coins is held in the hot wallet and the majority is kept in multi-signature cold wallets (Bybit help centre). Bybit's proof-of-reserves page states a 1:1 reserve on user assets, with its latest snapshot dated 23 September 2026 at 03:00 UTC covering trading and funding accounts (Bybit). Bybit publishes a Merkle tree verification tool, which Bybit describes as open source, for users to confirm their own balance is included in the snapshot (Bybit). This website has not audited the reserves.

Fines, warnings and licences outside Australia

India's Financial Intelligence Unit fined Bybit Fintech Limited ₹9.27 crore (about INR 92.7 million) by an order dated 31 January 2025, for breaching its obligations under India's Prevention of Money Laundering Act after expanding in India without registering, and also had Bybit's websites blocked in India (PIB). Japan's Financial Services Agency lists Bybit Fintech Limited among operators conducting crypto-asset exchange business without registration in Japan (FSA). Denmark's Finanstilsynet warned on 30 September 2024 that Bybit has no authorisation to operate as an investment firm in Denmark (Finanstilsynet).