Plain English
Bybit is a Singapore-headquartered crypto exchange founded in 2018, originally focused on derivatives. Now offers spot, perpetual futures, options, copy trading, and a launchpad. One of the top three exchanges globally by derivatives volume.
How it actually works
Perpetual futures fees are 0.02%/0.055% maker/taker with deep liquidity across BTC, ETH, SOL, and 200+ altcoin pairs. Suffered a $1.5B hack in February 2025 (the largest crypto exchange hack in history) but covered all customer losses from reserves; daily operations continued without interruption. Maintains proof-of-reserves.
What it means for you
Bybit is preferred by professional and HNW traders for derivatives liquidity. US users cannot access it. The 2025 hack stress-tested the platform’s reserves; it passed. For derivatives execution, Bybit and Binance compete closely; many traders use both for venue redundancy.
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Educational content only. Not investment, tax, or legal advice.