Bybit Explained: A Complete Guide to Trading on Bybit from A to Z

·

Bybit has rapidly emerged as one of the most trusted cryptocurrency exchanges in the global digital asset market. Since its launch in 2018, it has gained widespread recognition—especially among derivatives traders—for its high-performance trading engine, user-friendly interface, and robust security infrastructure. While initially focused on futures and margin trading, Bybit has evolved into a comprehensive platform offering spot trading, staking, launchpools, and even its native token (BIT), positioning itself as a strong competitor to industry leaders like Binance and OKX.

This in-depth guide will walk you through everything you need to know about Bybit, including its core features, fee structure, step-by-step registration, deposit and withdrawal processes, trading mechanics, and how to leverage its referral program for passive income.

What Is Bybit?

Bybit is a leading cryptocurrency derivatives exchange that specializes in perpetual contracts and futures trading with leverage up to 100x. Registered in the British Virgin Islands and operating globally—with a significant presence in Singapore—the platform serves traders from North America, Europe, Southeast Asia, and beyond.

Despite launching relatively recently (March 2018), Bybit quickly attracted over 10 million users worldwide, thanks to its reliable matching engine capable of processing up to 100,000 orders per second. The platform supports both P2P (peer-to-peer) trading and direct wallet integration, making it accessible for beginners and advanced traders alike.

In recent years, Bybit expanded beyond derivatives by introducing:

These additions have helped Bybit evolve into a full-service crypto ecosystem.

Key Features of Bybit

Here’s why millions of traders choose Bybit:

✅ Intuitive Interface – Clean design suitable for both novice and experienced users
✅ High-Speed Execution – Sub-millisecond trade execution with minimal latency
✅ Multi-Language Support – Includes Vietnamese, English, Chinese, Russian, Korean, and more
✅ 24/7 Customer Support – Live chat and email support available around the clock
✅ API Access – Full API suite for algorithmic and bot trading
✅ Low Trading Fees – Competitive 0.1% taker/maker fees, reducible via VIP tiers
✅ No KYC Required for Basic Trading – Start trading instantly without identity verification

👉 Discover how easy it is to start trading on a secure, high-performance platform.

Bybit Trading Fees Overview

Understanding fees is crucial for maximizing profits. Here's a breakdown:

Bybit uses a transparent fee model and offers rebates for market makers, encouraging liquidity provision.

How to Register on Bybit – Step by Step

Follow these steps to create your account securely.

On Desktop

Step 1: Visit the official Bybit website and click “Sign Up”.

Step 2: Enter your details:

Click “Next”.

Note: If you're in a restricted region like Vietnam, select “No” when prompted about country restrictions.

Step 3: Verify your email by entering the 6-digit code sent to your inbox.

Enable SMS & 2FA Security

Security is critical in crypto. Here’s how to protect your account:

  1. Go to Account & Security > Two-Factor Authentication

  2. Choose SMS Verification:

    • Select Vietnam as your country
    • Enter your phone number
    • Confirm via email code and automated call

  3. Set up Google Authenticator:

    • Scan the QR code or enter the recovery key
    • Input the 6-digit code generated by the app
    • Save the backup key securely

🔐 Always store your recovery codes offline!

👉 Secure your trades with advanced protection tools on a top-tier exchange.

Change Password & Complete KYC

For added safety:

To unlock higher withdrawal limits and access premium features:

  1. Go to Verification Center
  2. Select Vietnam ID Card, Passport, or Driver’s License
  3. Upload front/back photos
  4. Complete facial verification via webcam or mobile camera

Approval typically takes just minutes.

Mobile App Registration & Login

Bybit’s mobile app (iOS/Android) offers full functionality:

  1. Open bybit.com on your phone
  2. Tap “Sign Up”, enter email and password
  3. Confirm via email code
  4. Download the app using the QR scanner in the menu
  5. Log in and enable 2FA

Once set up, you can trade anytime, anywhere with real-time alerts and price tracking.

How to Deposit and Withdraw Funds

Deposit Crypto

  1. Click Assets > Deposit
  2. Select the cryptocurrency (e.g., BTC)
  3. Copy the deposit address or scan the QR code
  4. Send funds from your external wallet
⚠️ Always double-check addresses. Transactions are irreversible!

Withdraw Crypto

  1. Go to Assets > Withdraw
  2. Choose the coin (e.g., ETH)
  3. Paste recipient address
  4. Enter amount
  5. Confirm with 2FA

Processing times vary by network congestion but are usually fast.

How to Trade on Bybit

Bybit supports three main order types:

The platform excels in margin trading, allowing leveraged positions (Long/Short) from 1x to 100x across popular pairs like BTC/USD, ETH/USD, and altcoin futures.

On the trading interface:

New to margin? Practice first with a demo account to understand liquidation risks.

How to Get Your Bybit Referral Link

Earn passive income by inviting others:

  1. Click your profile icon > Referral Program
  2. Copy your unique link or referral code (e.g., LGKMQV)
  3. Share it with friends or on social media

You’ll earn a percentage of their trading fees—forever.

Participate in Bybit Launchpad

Bybit Launchpad allows users to invest in promising new blockchain projects before they list publicly.

To join:

It’s an excellent way to get early access to high-potential tokens.

How to Contact Bybit Support

Need help? Bybit offers round-the-clock assistance:

Response time is typically under 15 minutes during peak hours.

Frequently Asked Questions (FAQ)

Is Bybit legal in Vietnam?

Yes, Vietnamese users can access Bybit without restrictions. While certain regions are blocked due to regulations, Vietnam is not among them. Users can register freely and trade securely.

Do I need KYC to use Bybit?

No—basic trading doesn’t require KYC. However, completing verification unlocks higher withdrawal limits and access to advanced services like staking and Launchpad.

Can I trade spot markets on Bybit?

Absolutely. In addition to futures, Bybit offers a fully functional spot trading module where you can buy and sell crypto at market prices.

What is the referral commission on Bybit?

You can earn up to 20–40% of your referrals’ trading fees, depending on your tier in the affiliate program.

Is Bybit safe?

Yes. Bybit employs cold storage for 95% of assets, two-factor authentication, anti-phishing codes, and regular audits—making it one of the most secure exchanges today.

Does Bybit offer a mobile app?

Yes. The Bybit mobile app provides full trading capabilities, real-time notifications, portfolio tracking, and customer support—all optimized for iOS and Android devices.

Bybit continues to innovate by listening to user feedback and adapting to market trends. Whether you're interested in high-leverage futures or long-term crypto investments through Launchpad, Bybit delivers a seamless and powerful experience.

With strong security, low fees, multilingual support, and continuous feature upgrades, it remains a top choice for traders worldwide.

👉 Start your journey on a trusted platform built for performance and security.