Bybit is a global centralized exchange that built its name in crypto derivatives before expanding into spot markets, earn products and a wider ecosystem. In our dataset it reports around $15.6B in reserves and supports 37 chains for deposits and withdrawals, one of the broadest chain footprints among the exchanges we tracked.
How does Bybit measure up?
With about 8.6 years of operation, deep derivatives liquidity and wide chain reach, Bybit posts strong scale and track-record marks. Its perpetual futures markets are a core draw for active traders, and its broad chain support makes moving assets on and off the platform flexible. Our single-location API probe returned in about 198 ms, a respectable result that placed it among the faster large exchanges we measured, though this reflects one probe from one location and is not a guarantee of your own experience.
What about security history?
Honesty matters here: in February 2025 Bybit disclosed a large security breach in which roughly $1.5 billion in assets was drained from a cold wallet, one of the biggest exchange thefts on record. The company continued operating and honoured withdrawals through the event, and the incident was widely covered. It is a material event that anyone considering the platform should weigh carefully. We also did not find a dedicated public status page, which limits real-time incident transparency.
What we do and don't rate
We assess reported reserves, chain reach, operating history and our own latency probe. We do not score fees or support responsiveness, so we make no claims about those.
Who is Bybit for?
- Derivatives and futures traders wanting deep liquidity.
- Users who need broad multi-chain deposit and withdrawal options.
- Traders comfortable with an offshore, custodial venue.
It is a weaker fit for the risk-averse who want an unblemished security record, for those who require a public status page, or for users in jurisdictions where Bybit restricts access. As with any custodial exchange, assets held on the platform carry counterparty risk, and the scale of the 2025 breach is a reminder that even large, established venues can suffer serious losses, so size your exposure accordingly.