How to Use Bybit in 2026: Where It Works, Sign-Up, KYC, Fees and First Trade

Key points · updated 26 Oct 2026

• Where it works: Bybit’s official list of excluded jurisdictions now names the United States, Canada, Singapore, Hong Kong and mainland China, among others. The UK has been closed to new sign-ups since September 2026, and EEA residents use a separate entity, Bybit EU. Readers in the Philippines or Nigeria should start with our Philippines and Nigeria guides.
• Verification first: Standard identity verification is required before any Bybit product can be used. It usually takes about 15 minutes and can take up to 48 hours, and only physical ID documents are accepted.
• What it costs: at VIP 0 spot trades cost 0.1% maker and taker, and perpetual contracts 0.02% maker and 0.055% taker. Your own rate can differ by region, so read My Fee Rate before you trade.
• Biggest practical risk in 2026: accounts frozen for compliance review after a transfer to or from a flagged counterparty such as a casino or a blacklisted exchange. Funds can sit locked for weeks.
• Sensible first week: verify, switch on 2FA and the anti-phishing code, send a small test deposit, buy a little on Spot with a limit order, then test a small withdrawal. Leave leverage alone until you know how funding works. The full routes are in our Bybit deposit and withdrawal guide.
• What you can trade: spot, perpetual and futures contracts, options and P2P where offered. Bybit Card is a separate application with its own country programmes, covered in our Bybit Card tutorial.

Can you use Bybit where you live?

Check this before anything else. The country you choose at sign-up decides which Bybit site you land on, and Bybit may terminate an account and close open positions if the stated residence turns out to be false. There is no safe workaround, so pick your real country.

Where you live	Status	What to do
United States, Canada, Singapore, Hong Kong, mainland China	On Bybit’s Service Restricted Countries list (page updated 16 Oct 2026)	Bybit does not offer services there. Use a platform that explicitly serves your country.
North Korea, Cuba, Iran, Uzbekistan, Sudan, Syria, Crimea and occupied Ukrainian regions	Also on the same list	Not served. Dubai is excluded for one Bybit entity only.
United Kingdom	No new UK registrations (notice of 21 Sep 2026). Since 21 Oct 2026 UK-registered accounts can only withdraw crypto or fiat and convert small balances	Existing users should withdraw. bybit.com/en-GB closes on 19 Nov 2026.
EEA countries	Served by a separate entity, Bybit EU, not by bybit.com	Use Bybit EU’s own help centre. Fees, payment routes and products differ from this guide.
Philippines	Local regulator action; see our Philippines guide	Do not use this guide’s sign-up steps.
Nigeria	Not on the official list, but with local regulatory friction; see our Nigeria guide	Read it first, then come back for the walkthrough.
Everywhere else	Not on the excluded list as of 16 Oct 2026	The sign-up screen is the final test. Being absent from the list is not a guarantee of access.

Sources: Bybit Service Restricted Countries and Bybit’s notice for UK-registered users. Everything below assumes you live outside the places above.

What is Bybit, and who is it for?

Bybit launched in 2018. Its About page lists a milestone of 70 million users and says it is regularly ranked among the top three exchanges by volume; those are company claims, not our measurements. It is an offshore crypto exchange with spot trading, perpetual and futures contracts, options, P2P trading and a card that is applied for separately. Accounts can run on a Unified Trading Account (UTA), which holds spot, derivatives and options margin in one place. That saves transfers but means a losing derivatives position can draw on the same collateral as your spot coins.

You are	Fit	Why
A beginner who wants to buy and hold BTC or ETH	Fits, with care	Spot at 0.1% is simple. Expect to complete verification first and plan a withdrawal route to your own wallet.
An active trader using perpetual contracts	Fits	0.02% maker and 0.055% taker at VIP 0, with funding payments on top. Learn funding before sizing up.
Someone who needs a locally licensed platform with local deposit protection	Does not fit	Bybit is an offshore platform and this guide makes no licensing claim for any country.
Someone who wants to keep most savings on an exchange	Does not fit	Compliance freezes and the 2025 incident are reasons to keep long-term holdings in self-custody.

What can you trade on Bybit?

Product	What it is	Cost or terms we verified
Spot	Buy and sell coins directly against USDT and other quote assets	0.1% maker and taker at VIP 0
Perpetual and futures contracts	Leveraged contracts with funding payments	0.02% maker, 0.055% taker at VIP 0, plus funding
Options	Options on selected coins	0.02% maker, 0.03% taker at VIP 0
P2P	Buy or sell coins with other users for local currency, where offered	Fees vary by currency and advertiser level
TradFi CFDs	MT5 CFD account with 300+ pairs across metals, stocks, indices, forex and commodities	A CFD tracks the price and gives no ownership of the asset; commission is charged to the MT5 account balance
Bybit Card	Separate application with its own country programme	Not an automatic part of a trading account

The site menu also lists a separate Stocks section, Earn and other products. We did not verify their terms, and none of them are needed for the steps below. Check that a product is available for your country before you rely on it.

How to use Bybit: sign up and set up your account

Here is how to use Bybit from the first screen. The steps follow the official registration guide (updated 17 Aug 2026).

1. Open Bybit’s sign-up page in a browser or the app and tap Sign Up.
2. Pick your real country of residence. You may be redirected to a regional site or see a restricted-country notice.
3. Enter an email address or phone number, or sign up with Google or Apple. Email is the better choice because email and Google Authenticator are both compulsory for withdrawals; use a provider you will still control years from now.
4. Set a strong password, enter the verification code, then log in.
5. Go straight to Security and set up 2FA, the anti-phishing code and the fund password before depositing anything.

Bybit KYC: levels, limits and documents

Bybit’s Help Center states that identity verification of at least the Standard level is mandatory for all products and services. Higher levels raise limits and may be required for certain regions or products.

Level	What you provide	Daily withdrawal limit (non-VIP)
Standard	Identity assessment and proof of identity (ID document plus face check)	Up to 1M USDT
Advanced	Proof of address on top of Standard	Up to 2M USDT
Pro	Enhanced due diligence	Listed together with Advanced: up to 2M USDT
No verification (legacy row)	Nothing	Help Center still lists 20K USDT a day and 100K a month, but Standard is required to use products

• Documents: passport, identity card, residence permit or driving licence issued by your country of origin. Domestic passports and visas are not accepted.
• Physical documents only: Bybit does not accept e-copies or scans.
• Timing: about 15 minutes in the usual case and up to 48 hours. If it passes 48 hours, submit a support case.
• Proof of address: accepted items include utility bills, official bank statements, government residence certificates and a tenancy agreement longer than six months.

Source: Bybit Individual KYC FAQ, updated 20 Aug 2026.

Bybit fees: what you actually pay

The official fee page (updated 2 Sep 2026) lists base rates that apply at VIP 0. Bybit warns that actual rates may vary by region, and the reliable number is the one on your My Fee Rate page after verification. VIP level comes from asset balance or 30-day trading volume, whichever is higher, and refreshes daily at 07:00 UTC.

Product	Maker	Taker
Spot (crypto pairs)	0.1000%	0.1000%
Perpetual and futures contracts	0.0200%	0.0550%
Options	0.0200%	0.0300%

What that means in money

Trade	Fee at VIP 0	Round trip
Buy 1,000 USDT of BTC on Spot	1.00 USDT	2.00 USDT if you sell later
Open and close a 10,000 USDT perpetual position with market orders	5.50 USDT each way	11.00 USDT
Same position with limit orders that rest on the book	2.00 USDT each way	4.00 USDT

Limit orders that add liquidity cost less than half as much as market orders on contracts, which is the cheapest habit to build. Fee payment in MNT is available for Spot, Spot Margin and USDT and USDC contracts to non-VIP and VIP users, but not to API, Pro or institutional accounts; check the current discount in Bybit’s MNT fee guide before relying on a number.

Funding is not a trading fee

On perpetual contracts, longs and shorts pay each other a funding rate at set timestamps; on an 8-hour cycle that is 00:00, 08:00 and 16:00 UTC. The payment is position value multiplied by the funding rate: a 10,000 USDT position at 0.01% pays or receives 1 USDT that round. The rate moves every minute and its sign decides who pays, so read the rate and the countdown on the contract screen before holding a leveraged position overnight. Details: Bybit’s funding rate guide.

Deposit crypto and make your first spot trade

Crypto deposits are the simplest route for most readers. Open Assets, then Deposit, choose the coin, then choose the chain. The deposit lands in your Funding Account by default.

1. Pick the coin you are sending, for example USDT.
2. Pick the same network the sending wallet or exchange uses. The example below uses BSC (BEP20); never choose a network the sender does not show.
3. Check the minimum deposit and the confirmations needed on the deposit screen, then copy the address from your own app. Do not reuse an address from an article.
4. Coins that need a tag or memo, such as XRP, EOS or TON, must carry the exact memo or the deposit can be lost.
5. Send a small test amount first and wait for it to arrive. Some users must complete wallet-address verification under Travel Rule measures.

Two screens in order: choose the coin, then match the network.

Buying with P2P instead

Where P2P is offered for your country and currency, the route is Buy Crypto, then P2P Trading. Fiat P2P settles through the Funding account, fees vary by currency and advertiser level, and the payment provider may charge its own fee. Your bank account name must match your Bybit name, otherwise the seller can refuse to release the coins and the account can be suspended. Orders judged risky can bring a 24-hour withdrawal restriction. Source: Bybit P2P buying guide.

First spot trade

Open Markets, then Spot, choose the pair, and read the order form from top to bottom before you tap Buy.

Screen area	What to check
Trading pair	Both assets, for example BTC/USDT, so you buy the market you meant.
Buy or Sell	The right side is selected before you type an amount.
Order type	Limit sets your price. Market fills now at whatever the book offers, which can be worse on thin pairs.
Price and quantity	Unit, decimals, quantity and the estimated order value together.
Available balance	The coins are in the trading account. Start small.

In order: open Spot and pick a pair, then check price and quantity before tapping Buy.

How to withdraw from Bybit

1. Open Assets, then Withdraw and choose the coin.
2. Choose On-Chain for an external wallet or another exchange. Internal transfer is only for another Bybit account.
3. Paste the destination address or pick one from your address book, then select the exact network the receiving side uses. The fee is shown per network.
4. Enter the amount, confirm with email and Google Authenticator, and send a small test first. Tag or memo coins need the tag.

In order: choose On-Chain, then fill address, network and amount. These screens stop before the final confirmation; no withdrawal was submitted.

Source: Bybit on-chain withdrawal guide.

Using the Bybit mobile app

The same account works on the website and in the iOS and Android app. Bybit’s official guides give separate App and Website steps for sign-up, deposits and withdrawals, and the screenshots in this guide use the Android app in English. The paths you will use most are Markets, then Spot to trade, Assets, then Deposit or Withdraw to move coins, and Security to manage 2FA and passwords.

Security setup before you deposit

• Google Authenticator: required for withdrawals. Follow Bybit’s binding guide and keep a backup of the key.
• Anti-phishing code: a personal code that appears in every official Bybit email and SMS. If a message lacks it, do not click.
• Fund password and address book: set the fund password and save withdrawal addresses you trust, so a typo cannot send coins to a stranger.

Two Security screens: password controls, then email, 2FA and the anti-phishing code (email masked).

Is Bybit safe? The 2025 incident and the 2026 freeze complaints

On 21 February 2025 a single Ethereum cold wallet was compromised and about 1.46 billion USD was lost. Bybit’s own timeline says the ETH gap in client assets was closed within 72 hours, backed by an updated Hacken proof-of-reserves report, and that preliminary reports by Sygnia and Verichains traced the cause to malicious JavaScript on Safe{Wallet} rather than to Bybit’s own infrastructure. That is the company’s account of events, not a guarantee about the future. Source: Bybit security incident timeline.

The more common problem for ordinary users today is different. Public consumer reviews of Bybit average 2.4 out of 5 across 7,729 ratings, and the newest ones, from October 2026, repeat one story: an account restricted after a transfer touching a flagged counterparty, then days or months of compliance review with template replies. Reported triggers include a payment to a merchant on Bybit’s restricted list, a transfer to an exchange on its blacklist, a direct deposit from an online casino and a small transfer linked to a payment processor. Bybit’s replies say it does not hold funds without a legal basis and that most users never face an extended review. These are one-sided complaints and prove nothing about any single case, but the pattern shapes the checklist below.

Checklist. Fund Bybit from a wallet or exchange you control, not straight from gambling sites or unfamiliar services. Do not route payments through merchants you have not checked. Keep only what you plan to trade on the platform. Test a small withdrawal early, and keep an alternative exchange account for emergencies.

Is Bybit worth using? Our verdict

My take, from the official numbers: for spot buying the cost is small, 1 USDT per 1,000 USDT each way. The money is lost elsewhere: market orders on contracts (11 USDT round trip on 10,000 USDT against 4 USDT with limit orders), funding on positions held for days, and leverage. If you only want to buy and hold, Bybit is a convenient front end but not a vault: withdraw what you do not trade. If you trade contracts, use limit orders, check funding before holding overnight, and treat the compliance-freeze pattern as a real cost of using any offshore venue.

Frequently asked questions

Further reading

• Bybit deposit and withdrawal guide
• Bybit Card tutorial
• Bybit Nigeria: can you still use it?
• Bybit Philippines: what the SEC action means
• Official pages: restricted countries, trading fees, KYC FAQ.

Affiliate disclosure: some Bybit links in this article are affiliate links. If you register through them the site may earn a commission at no extra cost to you, and that does not change the fees, terms or risk assessment here. The links are for readers who live outside the excluded jurisdictions listed above. Bybit is an offshore crypto exchange. This article rests on Bybit’s official Help Center and announcements (checked 26 October 2026) and is not investment, legal or tax advice. Fees, limits and availability are set by Bybit and may differ for your account.