Bybit
good trust · scored on blocks worth 85 of 100 points
Affiliate link: we may be paid. It does not affect the score. 18+ only.
What people say
Ratings from our readers and fresh reviews from the exchange app's users.
Freekonomist readers' ratings
Give the exchange 1 to 5 stars and say briefly why. One rating per account, you can change it. Not part of the score.
App Store reviews
Latest 40 reviews: ★ 2.2 on average, complaints (1–2 stars) 70%. 🇺🇸 🇳🇬 🇬🇧 🇮🇳 🇦🇺
Scame
Please no one use this exchange they are runing scam .they will stuck your assest then not will open even after 200 years
Armunu · 🇺🇸 2026-10-19 · App Store ↗The p2p app suck
It over heats my phone I use an iPhone 15pro max The app lags constantly And it keeps loading forever
jaguarchi · 🇳🇬 2026-10-17 · App Store ↗Best financial app
I am very happy with the service provided by Bybit. The app provides swift transaction process of accepting USDT as well making subscription and payment I highly recommend it
Lidetu Tadesse · 🇺🇸 2026-10-15 · App Store ↗SCAM COMPANY
Bybit is a scam they lock people account for months without giving access to them or their funding and even no explanation they just lock you off their supports also says no response yet for months, this is a scam
Bghuiopuufvkgjc · 🇺🇸 2026-10-15 · App Store ↗Show all reviews (40)
Poor app
All these positive reviews you see there may not be true because this Bybit is something to run away from. Recently, in their P2P market the buyer can make payment and the seller can still cancel the order without releasing coins. Their customer support doesn’t even know anything about crypto trading and cannot assist. Even if you submit an appeal customer support will be silent for days. So poor. For safety and swift purposes please choose other platforms suitable for you. Imagine, they can even suspend your account without giving a reason. Imagine even Binace the biggest don’t do such
Lucyna10947 · 🇳🇬 2026-10-15 · App Store ↗Payment confirmation
I got stuck in payment confirmation , button can’t scroll down!
LinnHtut 19 · 🇺🇸 2026-10-13 · App Store ↗It’s doing scam nowadays
If you ever want to join in any event in bybit. Consider thinking again. Most of the time it will flagged u for no reason.
Muntasir4121 · 🇬🇧 2026-10-13 · App Store ↗Absolutely terrible platform with outrageous fees.
I was so stupid to listen to an AI recommendation and trust Bybit with my money. Not only did Bybit freeze my funds — a relatively modest $2,500 — but even after I spent an entire week proving the legitimate source of my funds, they made me pay a $1 withdrawal fee just to get my own money back. On top of that, their exchange rate was terrible. An absolutely exhausting experience from start to finish. I have completely lost my trust in this platform and would never recommend it to anyone. Use Yodl instead. My experience with it has been far better.
Сэм_РаДзен · 🇺🇸 2026-10-12 · App Store ↗An app with potential
The menus are fairly easy to understand. This text is synthetic and does not represent a real customer experience. Synthetic example for layout and language testing.
Celia_Sherilyne · 🇳🇬 2026-10-11 · App Store ↗Easy to get familiar with
The interface is clear and the main sections are fairly easy to find. This sample is intended for internal localisation testing only. This is simulated content for internal testing only.
HeatherMargity · 🇳🇬 2026-10-11 · App Store ↗A fairly straightforward experience
The menus are fairly easy to understand. There is room to improve clarity and ease of use further. Synthetic example for layout and language testing.
Fuentes Lindy · 🇳🇬 2026-10-11 · App Store ↗The layout is easy to follow
The information is reasonably easy to follow on a phone. Further refinements could make the app easier to use. Sample text only; not for publication as customer feedback.
cain custer · 🇳🇬 2026-10-11 · App Store ↗A positive first impression
The information is reasonably easy to follow on a phone. It can help test how review titles and body text appear in a workflow. Synthetic example for layout and language testing.
Verla Izetta · 🇳🇬 2026-10-11 · App Store ↗P2P Not going through
It’s so hard lately to open a trade on P2P please fix.. Refresh Quote all the time.
Da Bigharry · 🇳🇬 2026-10-10 · App Store ↗Be careful
Be careful, this company can lock your money without reason
Honjo*** · 🇺🇸 2026-10-08 · App Store ↗Bybit
Each time I tried to open my app it disappeared… what is the problem ?
_Godson215 · 🇺🇸 2026-10-08 · App Store ↗P2p payment
I need help please, I withdraw my 466 usdt to my first bank account which is around 608,945 thousand naira and the merchant forwarded 466 naira into my first bank account instead of 608,945 naira ( six hundred and eight thousand and nine hundred forty five naira ). I need help please. My hard earn money must not be lost please customer service help me
Kehjibola · 🇳🇬 2026-10-06 · App Store ↗Unless application
You guys stole from me on the 3rd of October 2026 and I'll never forget!
olalabi · 🇳🇬 2026-10-04 · App Store ↗You’re becoming absolutely useless which each upgrade on features
👺you’re becoming useless daily,.,…. Where’s does my money 💰 in the funded account keep disappearing too??????? Where does my money keep going??
Aldrenalin1 · 🇳🇬 2026-10-04 · App Store ↗Misleading app
This app which is run by Nigerian people is involved in cryptocurrency scam that is misleading Indian users for entering into P2P transactions.
Casualreviewer77 · 🇮🇳 2026-10-03 · App Store ↗Bybit
What’s wrong with your app lately? Can’t seem to perform any transactions always showing poor connection even though my connection is good
Zerozpace · 🇳🇬 2026-10-03 · App Store ↗App sluggish.
Lately, this app has been flopping. I have to click on p2p trading 5times before I can be able to trade. 😡😡. Very frustrating. You guys need to do something about this bug.
Tonee Tonee · 🇺🇸 2026-10-02 · App Store ↗Functional
Please this updated version … any my app is refreshed… it’s scattering all my mark point… that I will just have to start marking out my point again.. pls find something to do about it
Biolis01 · 🇺🇸 2026-09-30 · App Store ↗App no longer works after update.
I use an iPhone 14 Pro, after updating the app it became practically useless, I cannot carry out p2p trades anymore. It just doesn’t work; you can tell the app is faulty.
MaroFACmd · 🇳🇬 2026-09-30 · App Store ↗Bybit fix back my account
I sent money from my own Remitano wallet to Bybit but Bybit banned and restrict my account asking me to show proof that I transferred it myself which I did it’s been more than 3 days now Bybit is still holding my funds I can’t even withdraw Bybit are you trying to scam your customers?
Jerryboi345 · 🇳🇬 2026-09-29 · App Store ↗Super painful
It has affected my trading in the way of being too secure and not being able to take money out and put it into a account for a different trade. Save the hassle and use any other app so u don’t have ur money stuck for a week missing trades 😡
Tomohawk560 · 🇦🇺 2026-09-28 · App Store ↗Fake
It’s fake they restricted my account and took my money
Logsvdg · 🇳🇬 2026-09-23 · App Store ↗Case
Bxn…..i cant grsbt access to my funds uo till now
Capitec reflection order · 🇺🇸 2026-09-22 · App Store ↗Not good enough
Your customer support is not working. The app has refused to allow me login. You guys are gradually losing credibility
&!’l · 🇺🇸 2026-09-22 · App Store ↗Invalid Restrictions
Please Remove the Restriction of not being able to open another order after 3 time's cancellation,, it affects so much, please remove such restrictions..
Joe_Feezy · 🇳🇬 2026-09-21 · App Store ↗Reset credentials
I lose access to my gmail account and I couldn't get access to my Authenticator app since I changed my device. Bybit should let me reset my details through my phone number and facial recognition but no options for it. I have to use the gmail and Authenticator app that I no longer have access to
Third_bourne · 🇳🇬 2026-09-20 · App Store ↗Not loading anymore
Since you updated your app it became trash
Chi cammar · 🇺🇸 2026-09-19 · App Store ↗Stay Away!!!
If you want you funds locked up. Use this app. Simple p2p will stress the hell out of you.
Gbedeji · 🇺🇸 2026-09-17 · App Store ↗Bug p2p
Fix your buggy app I’ll click a button 10 times before it opens and when it does it’l take 30 minutes to display the content
Wes80085 · 🇺🇸 2026-09-16 · App Store ↗訂閱了個兩個號的ai就異常了
訂閱了個兩個號的ai就異常了，偶爾系統會有空頭，應該就是訂閱的返現吧，領取了兩次就不能用了
Hisa gogogogogogo · 🇺🇸 2026-09-14 · App Store ↗What exactly is going on with your app?
I’ve not been able to log into it for days now. Why exactly is that? No reasons. Just poor network connection excuse for days? What’s going on, Bybit???
AdanneKo · 🇳🇬 2026-09-14 · App Store ↗Bybit Has Poor Customer Support Relations
My Bybit account has been restricted since august 27 and till today, Bybit hasn’t provide the reason for the restriction and you people hold my money without telling me the reason for my withdrawal restriction
Naijatrends · 🇺🇸 2026-09-13 · App Store ↗App glitches can’t trade
Poor app, it’s frustrating when the app glitches and I need to trade some money
Kodymaniac · 🇳🇬 2026-09-13 · App Store ↗Fresh App Store reviews as they are: we neither edit nor pick them. They are not part of the score; the App Store average is.
Licences
11.5 / 25Where the exchange is legal: licences and registrations from regulators' registers, minus bans and fines.
Confirmed in regulators' registers
- 🇦🇹 AustrialicenceFMA Austria (ESMA MiCA register) · Bybit EU GmbH · № FN 636180i; LEI 5299005V5GBSN2A4C303; authorised 28.05.2025source ↗
- 🇦🇹 AustrialicenceFMA Austria · Bybit Payments GmbH · № FN 636179h; granted 04.08.2026source ↗
- 🇦🇪 United Arab EmirateslicenceSecurities and Commodities Authority (now listed as UAE Capital Market Authority) · Bybit Virtual Asset Platform Operator (LLC) · № CP-0001580; register status Active; register date 19-Mar-2025 (full VAPO licence announced 09-Oct-2025)source ↗
- 🇰🇿 KazakhstanlicenceAFSA · Bybit Limited · № AFSA-A-LA-2024-0027; active; issued 25-09-2024source ↗
- 🇬🇪 GeorgiaregistrationNational Bank of Georgia · Bybit Georgia Limited LLC · № NBG reg. 0019-9404; ID 402297331; decree 434 of 24.10.2024source ↗
- 🇮🇳 IndiaregistrationFIU-IND · Bybit Fintech Limited (Seychelles) · № S.N. 48, Annexure I (registered VDA SPs as on 9 Mar 2026)source ↗
- 🇮🇩 IndonesialicenceOJK · PT Enkripsi Teknologi Handal (Nobi; reported renamed Bybit Indonesia) · № S-12/D.07/2025 (1 Feb 2025)source ↗
- 🇹🇷 TürkiyependingSPK (Capital Markets Board) · Bybit Kripto Varlık Alım Satım Platformu AŞ (Narkasa Yazılım Ticaret AŞ) · № No. 11 on provisional listsource ↗
Claimed, not confirmed in a register
- 🇦🇪 United Arab Emiratesin-principle approvalVARA · Bybit (Dubai entity) · № n/asource ↗
- 🇦🇷 ArgentinaregistrationCNV · Bybit (entity not verified) · № reported PSAV No. 76 (unverified)source ↗
Regulator actions
- 🇳🇱 Netherlandsfine · 2024-10DNB fined Bybit Fintech Limited EUR 2,250,000 on 22 Oct 2024 for crypto services without DNB registration (until Sep 2023)source ↗
- 🇮🇳 Indiafine · 2025-01FIU-IND penalty Rs 9.27 crore (31 Jan 2025) for operating without registration; websites blocked via MeitY; Bybit on Annexure II takedown list. Later registered (see licences)source ↗
- 🇲🇾 Malaysiaban · 2024-12Securities Commission Malaysia (11 Dec 2024) reprimanded Bybit Technology Ltd and CEO, ordered website/apps disabled in Malaysia within 14 business days (unregistered DAX)source ↗
- 🇹🇭 Thailandban · 2025-06Thai SEC filed criminal complaints and had MDES block access from 28 June 2025 (unlicensed digital asset exchange)source ↗
- 🇵🇭 Philippineswarning · 2025-08Philippine SEC advisory (5 Aug 2025) naming Bybit among 10 unregistered exchangessource ↗
- 🇯🇵 Japanwarning · 2025-02Japan FSA warnings to Bybit Fintech Limited for unregistered crypto exchange business (May 2021, Mar 2023, Nov 2024); Feb 2025 FSA asked Apple/Google to remove appsource ↗
- 🇸🇬 Singaporewarning · 2026-06MAS added Bybit Fintech Ltd to Investor Alert List (17 Jun 2026)source ↗
- 🇨🇦 Canadafine · 2022-06OSC settlement (Jun 2022): Bybit Fintech disgorged US$2,468,910 + C$10,000 costs; Bybit left Canada in 2023source ↗
- 🇧🇷 Brazilban · 2022-09CVM (Sep 2022) ordered Bybit Fintech to stop offering securities intermediation to Brazilians (daily fine R$1,000); derivatives stoppedsource ↗
Does not serve, by its own terms
🇺🇸 United States🇨🇳 China🇭🇰 Hong Kong SAR China🇸🇬 Singapore🇨🇦 Canada🇰🇵 North Korea🇨🇺 Cuba🇮🇷 Iran🇺🇿 Uzbekistan🇸🇩 Sudan🇸🇾 Syria🇺🇦 Ukraine🇦🇪 United Arab Emirates🇬🇧 United Kingdom
Reserves
18 / 20Proof of reserves: is there one, who checked it, how fresh it is and whether coins cover every client balance.
Security
11 / 15Past hacks and whether clients were made whole, the insurance fund.
Hacks
- 2025-02-21$1.40B · clients made wholeETH cold wallet hack (Lazarus). The exchange covered the gap with loans and purchases; clients lost nothing.source ↗
Insurance fund
$386.6M · USDT perpetuals, per the exchange page as of 2026-10-08 source ↗
Liquidity
11.4 / 15Real BTC order-book depth within ±2% and futures open interest.
What people say
8.6 / 10App Store ratings across countries, weighted by the number of reviews.
🇷🇺 ★ 4.83 (85,455)🇳🇬 ★ 4.55 (61,299)🇺🇸 ★ 4.69 (46,915)🇺🇦 ★ 4.87 (42,803)🇻🇳 ★ 4.32 (16,750)🇧🇷 ★ 4.85 (15,314)🇹🇷 ★ 4.71 (10,285)🇩🇪 ★ 4.74 (7,446)
What the internet says
Across the sources reviewed for roughly April–October 2026, users and independent reviewers praise Bybit’s interface, trading speed and tools, liquidity, and broad feature set. The most repeated complaints concern restricted withdrawals or accounts and unsatisfactory support; app-store sentiment is substantially more positive than Trustpilot, while the 2025 hack and region-dependent regulatory protections remain recurring concerns in crypto-media reviews.
- App-store reviewers and independent reviewers often praise the interface, ease of navigation, trading speed, and available tools.
- Some app users report smooth trading and timely deposits or withdrawals; reviewers also cite liquidity and copy trading.
- Reviews describe the base spot and derivatives trading fees as specified in a published schedule; the listed rates for regular users are 0.1% spot and 0.02%/0.055% maker/taker for derivatives.
- Media coverage says Bybit kept withdrawals operating during the February 2025 hack and restored reported reserve coverage; this is cited as a positive part of its response, alongside the security failure itself.
- Trustpilot complaints commonly describe withdrawals or accounts restricted during compliance/security reviews, with unclear timelines or reasons.
- Users report generic or slow support; app and media reviews also mention difficult P2P disputes and a learning curve.
- Independent reviews list network-dependent withdrawal charges and note that regulatory protections differ by region; some describe limited recourse outside licensed markets.
- Reviewers continue to cite the February 2025 theft of about $1.5 billion from an Ethereum cold wallet as a major security concern.
AI summary (Perplexity) of public sources as of 2026-10-21. Not part of the score. Sources: 1 2 3 4 5 6 7 8
Reviews elsewhere: Trustpilot ↗ · Reddit ↗ · Google Play ↗
Opinion leaders
no dataWhat the opinion leaders from our Sentiment page write about it: the share of complaints among mentions over 90 days.
The opinion leaders have not mentioned this exchange yet. The block fills itself: we follow their posts every hour.
API reliability
no dataOur own check: does the exchange API answer, over 30 days.
Bybit's API is closed to US servers, where our check runs, so this block is not counted for Bybit.
How we score
- Licences · 25 points. Where the exchange is legal: licences and registrations from regulators' registers, minus bans and fines.
- Reserves · 20 points. Proof of reserves: is there one, who checked it, how fresh it is and whether coins cover every client balance.
- Security · 15 points. Past hacks and whether clients were made whole, the insurance fund.
- Liquidity · 15 points. Real BTC order-book depth within ±2% and futures open interest.
- What people say · 10 points. App Store ratings across countries, weighted by the number of reviews.
- Opinion leaders · 10 points. What the opinion leaders from our Sentiment page write about it: the share of complaints among mentions over 90 days.
- API reliability · 5 points. Our own check: does the exchange API answer, over 30 days.
Licences: a full licence in the EU (MiCA), UK, US, UAE, Singapore, Japan, Hong Kong, Canada, Korea, Australia or Switzerland gives 5 points, a full licence elsewhere 3, a registration (such as FinCEN or AUSTRAC) 1.5, an application or in-principle approval 0.5. Each country counts its best entry, and only if confirmed in the regulator's register. Every regulator ban, fine or warning in the last 3 years costs 2 points, at most 8 in total.
Reserves: a published proof of reserves gives 4 points; zk proof 6, audited Merkle tree or audited filings of a listed company 4, unaudited tree 2; a snapshot under 45 days old 4, under 90 days 2; the lowest coverage among BTC, ETH, USDT and USDC at 100%+ gives 6, at 95%+ gives 3.
Security: 10 points minus 2 for each hack where clients were made whole and minus 6 where they were not; hacks older than 5 years count half. Plus 5 if the insurance fund can be checked via API or on-chain, 3 if the exchange only publishes the amount.
When a block has no data yet it is left out and the total is rescaled to 100 over the blocks we have. Our readers' ratings are shown separately and do not enter the score, so they cannot be gamed.
Sources: regulators' registers (ESMA, FinCEN, AUSTRAC, VARA, MAS and others), the exchanges' proof of reserves pages, Powered by CoinGecko (depth and open interest), Apple App Store, the exchanges' public APIs, mempool.space, opinion leaders' posts on X. Licences checked 2026-10-21, data updated .
Partnerships do not affect the scores. We have affiliate links with some of these exchanges and may be paid if you sign up. A script computes the scores from public data with the same rules for all; the method and sources are below. Not investment advice. Trading crypto, especially with leverage, is high risk. 18+ only.