Bybit Review 2025 – Is It the Best Crypto Exchange for Indian Traders?

Introduction

What is Bybit and why is it popular in India? Bybit was founded in 2018 and has grown into one of the leading global cryptocurrency exchanges. Originally based in Singapore, Bybit later moved its headquarters to Dubai and is regulated as a Virtual Asset Service Provider (VASP) in Dubai and Cyprus. The platform has over 50 million registered users as of 2025, making it one of the largest exchanges in the world.

Bybit specializes in both spot trading and derivatives trading, offering up to 100x leverage on futures contracts. In addition to these, the platform provides a variety of financial products like copy trading, options trading, staking, and an NFT marketplace.

Bybit prioritizes security, implementing cold storage for assets, multi-signature wallets, two-factor authentication (2FA), and an insurance fund to protect traders. It is known for fast transactions, deep liquidity, and an intuitive trading interface, making it suitable for both beginners and experienced traders.

Bybit allows users to deposit and withdraw funds in over 60 fiat currencies through its P2P platform and various third-party providers. However, it is restricted in some jurisdictions, including the United States, Canada, and the United Kingdom.

Pros & Cons of Bybit

• Pros:
  • ✅ Low trading fees compared to competitors.
  • ✅ High liquidity and deep order books.
  • ✅ Advanced trading features (copy trading, leverage up to 100x, options trading).
  • ✅ Secure platform with cold storage and Proof-of-Reserves.
  • ✅ Highly rated mobile app with full trading functionality.
  • ✅ Strong customer support and multilingual interface.
• Cons:
  • ❌ KYC verification required for full access and higher withdrawal limits.
  • ❌ Limited INR direct deposit methods (only available through P2P).
  • ❌ Restricted in some regions (United States, UK, and Canada).
  • ❌ High leverage can be risky for beginners.

Registration and Verification

How to Register on Bybit (Step-by-Step Guide)

1. Visit the Bybit Website – Go to Bybit.com and click on the Sign Up button in the top-right corner.
2. Enter Your Contact Information – Provide your email address or phone number and create a strong password (at least 8 characters, including one uppercase letter, one lowercase letter, and a number).
3. Complete Security Verification – Solve the captcha puzzle to confirm you are a human.
4. Verify Your Email or Phone Number – Bybit will send you a one-time password (OTP). Enter the code to complete verification.
5. Log In to Your Account – Once verified, you can log in and access Bybit’s features.
6. Set Up Security Features – It is recommended to enable Two-Factor Authentication (2FA) and set up an anti-phishing code for added security.

Bybit KYC Verification – Do You Need It?

Bybit operates as a regulated centralized exchange, requiring Know Your Customer (KYC) verification to comply with financial regulations and prevent fraud. There are two KYC levels:

• Level 1 KYC – Required for all users. Increases withdrawal limits to 1 million USDT per day. Allows access to basic trading features.
• Level 2 KYC – Unlocks access to the Bybit Card and increases withdrawal limits to 2 million USDT per day. Also allows participation in exclusive promotions and fiat services.

How to Complete KYC Verification on Bybit:

1. Go to Account & Security in your profile settings.
2. Click Identity Verification and select your KYC level.
3. Upload a valid government-issued ID (passport, driver’s license, or national ID card).
4. Complete facial recognition verification.
5. Wait for approval (usually takes a few minutes to a few hours).

Why Should You Complete KYC?

• ✅ Higher withdrawal limits (up to 2M USDT per day).
• ✅ Access to fiat services, copy trading, and promotions.
• ✅ Improved security and account recovery options.
• ✅ Ability to participate in Bybit Earn, Launchpad, and other advanced features.

Fees and Charges

Bybit Trading Fees (Maker/Taker)

Bybit follows a maker-taker fee model, where makers provide liquidity to the market and takers remove liquidity. Fees vary depending on the trading type:

• Spot Trading: 0.1% Maker / 0.1% Taker
• Futures Trading: 0.02% Maker / 0.06% Taker

VIP Tier Fee Discounts

Bybit employs a VIP tier system that reduces trading fees based on the user’s 30-day trading volume and asset balance. Higher VIP levels unlock lower fees:

Bybit Deposit and Withdrawal Fees

• INR Deposits: Free via P2P, bank transfers may have transaction fees.
• Crypto Withdrawals: Fees depend on the blockchain network (e.g., BTC withdrawal ~ 0.0005 BTC).
• Fiat Withdrawals: Vary by payment provider, usually between 0.08% – 2%.

Trading

Bybit Spot Trading (How to Buy/Sell Crypto)

Choose a crypto pair (BTC/USDT, ETH/INR, etc.) based on market trends, liquidity, and your trading strategy. Consider volatility, trading volume, and the best pairing for your preferred currency or asset.

Select Market or Limit Order.

Execute the trade and store funds in your Bybit wallet.

Bybit Futures and Derivatives Trading (What is Margin Trading, Leverage?)

Trade BTC, ETH, XRP, and more with up to 100x leverage ⚠️ High leverage increases both potential gains and risks. Beginners should start with lower leverage to avoid significant losses.

Use risk management tools: Stop Loss, Take Profit to limit potential losses and lock in profits. Stop Loss helps prevent excessive downside by automatically closing a position when a predetermined price is reached, while Take Profit secures gains by closing the trade at a target price before the market reverses.

Explore Copy Trading, Trading Bots, and Pre-Market Trading to maximize your trading opportunities.

• Copy Trading: Follow and replicate the trades of experienced traders automatically, allowing you to benefit from their strategies without needing advanced trading knowledge.
• Trading Bots: Automate your trades based on pre-set conditions and strategies, optimizing market opportunities while reducing manual effort.
• Pre-Market Trading: Access new token listings and trading opportunities before they go live, giving you an advantage in securing early positions.

Security and Safety

Is Bybit Safe for Indian Traders?

Bybit prioritizes security through a multi-layered protection system:

• Cold storage wallets for user funds, reducing exposure to cyber threats.
• Multi-signature authentication to prevent unauthorized transactions.
• Proof of Reserves (PoR) for transparency in asset holdings.
• Two-Factor Authentication (2FA) and withdrawal whitelisting for enhanced account security.
• An insurance fund to protect traders from liquidation risks.
• Real-time monitoring and anti-phishing measures for added protection.

Bybit regularly publishes its Proof of Reserves audit results, ensuring transparency for traders. This allows users to verify that their assets are fully backed at all times. The platform has never experienced a major security breach and maintains a high AA security rating from independent auditors.

Deposits and Withdrawals

Available Bybit Deposit Methods in India

Bybit provides a variety of deposit and withdrawal options for Indian users, ensuring seamless transactions with support for local banking methods and direct crypto transfers.

• Bank Transfers (P2P): Supports UPI, IMPS, NEFT, and RTGS for INR deposits.
• Crypto Deposits: Users can transfer cryptocurrencies from external wallets directly to their Bybit account.
• Third-Party Services: Bybit integrates with Banxa, MoonPay, and Mercuryo for fiat-to-crypto transactions.

Bybit Withdrawal Options

• Fiat Withdrawals: Sell crypto via P2P trading and withdraw INR to a bank account.
• Crypto Withdrawals: Direct transfers to external wallets with blockchain fees.

Bonuses and Promotions

Bybit Current Bonuses Available

• $20 Welcome Bonus – New users can receive a $20 bonus after completing their first deposit.
• Deposit and Trade Bonuses – Active traders can earn deposit-based bonuses, trading fee rebates, and cashback offers.
• Bybit Rewards Hub – Complete tasks like referrals, trading challenges, and KYC verification to unlock exclusive rewards.
• Bybit Referral Program – Invite friends and earn up to 1,710 USDT in rewards, plus a 30% commission on their trading fees.
• Bybit VIP Program – High-volume traders enjoy exclusive benefits, lower fees, and access to special promotions.

Bybit vs Competitors (Comparison)

Bybit Disadvantages:

• KYC Required: Higher withdrawal limits and full features require verification.
• Limited INR Direct Deposit Methods: Only available through P2P trading.
• Not Available in Some Regions: Restrictions in the US, UK, and Canada.
• High Leverage Risk: Up to 100x leverage, which can be risky for beginners.

Bybit vs Binance, OKX, and WazirX

Why Choose Bybit Over Binance, OKX, or WazirX?

Bybit provides a more beginner-friendly and cost-effective trading experience, especially for Indian traders. Unlike Binance, which has complex fee structures and limited INR deposit options, Bybit supports better P2P INR trading and has a straightforward maker/taker fee model. OKX offers competitive trading, but Bybit has a stronger security rating and more trading pairs. WazirX is India-focused but has higher fees and lower leverage, making Bybit a better choice for active traders.

Mobile App

How to Download the Bybit App on Android/iOS

1. Go to the Google Play Store or Apple App Store.
2. Search for "Bybit: Crypto Trading App".
3. Download and install the app.
4. Log in with your credentials and start trading.

Bybit Mobile App Features

• Full trading functionality – Spot, futures, and options markets available.
• Real-time market data – Instant price updates and notifications.
• Advanced charting tools – Multiple timeframes and indicators.
• Push notifications – Stay updated on market trends, price alerts, and order executions.
• Biometric security – Secure login via Face ID or fingerprint authentication.
• Access to Bybit Earn & Rewards – Participate in staking and promotions.
• Web3 integration – Connect to DeFi apps and manage NFTs.

Bybit App Ratings and User Experience

• Google Play Store Rating: 4.6/5
• Apple App Store Rating: 4.7/5
• User Feedback: Positive reviews highlight the intuitive interface, low latency trading execution, and extensive features.

Frequently Asked Questions (FAQ)

General Questions

• Is Bybit legal in India?

  Yes, Bybit operates legally in India, but traders must comply with crypto tax regulations and KYC requirements set by local authorities.

• Does Bybit require KYC?

  Yes, KYC is mandatory for most trading and withdrawal activities. Without KYC, withdrawal limits are significantly lower.

• What are the trading fees on Bybit?

  Bybit offers low trading fees, with a 0.1% maker/taker fee for spot trading and 0.02% maker / 0.06% taker fee for futures trading.

• Can I withdraw INR from Bybit?

  Yes, INR withdrawals are possible via P2P trading, where users can sell USDT or other stablecoins for INR.

• How secure is Bybit?

  Bybit employs cold storage, multi-signature wallets, 2FA, and an insurance fund to ensure user security.

• Is there a Bybit mobile app?

  Yes, Bybit has a highly-rated mobile app available on Android and iOS, offering full trading functionality, real-time market data, advanced charting tools, and Web3 wallet integration.

Expanded FAQ from Google People Also Ask

• How can I withdraw funds from Bybit in India?

  You can withdraw INR via P2P trading by selling USDT or other cryptocurrencies and receiving payment through UPI, IMPS, or bank transfer.

• What payment methods does Bybit support?

  Bybit supports cryptocurrency deposits, P2P trading, and payments via third-party providers such as Banxa, MoonPay, and Mercuryo.

• Do I need to pay taxes on crypto trading on Bybit in India?

  Yes, India imposes a 30% tax on crypto profits and a 1% TDS on transactions above a certain threshold.

• Does Bybit support NFT trading?

  Yes, Bybit offers an NFT marketplace where users can buy, sell, and trade NFTs.

• Is Bybit safe for storing cryptocurrency?

  Bybit uses cold storage, multi-layered security, and two-factor authentication to protect user funds.

• What are the deposit and withdrawal fees on Bybit?

  Crypto deposits are free, while withdrawal fees depend on the blockchain network (e.g., 0.0005 BTC for BTC withdrawals). Fiat deposits via P2P are free, but third-party services may charge fees.

• Can I trade on Bybit without KYC verification?

  Yes, but with limited functionality. Without KYC, the daily withdrawal limit is 20,000 USDT, and access to some features is restricted.

Regulations in India

Bybit operates legally in India, but traders must comply with local tax regulations and legal requirements. Here are key aspects to consider:

Crypto Taxation in India

• India imposes a 30% tax on profits from cryptocurrency trading.
• A 1% TDS (Tax Deducted at Source) is applicable on crypto transactions above a certain threshold.
• Traders must declare their crypto holdings during annual tax filings to comply with Indian financial regulations.

RBI & SEBI Guidelines

• The Reserve Bank of India (RBI) does not recognize crypto as legal tender, but trading is permitted.
• The Securities and Exchange Board of India (SEBI) has issued warnings on crypto investments, advising traders to exercise caution.
• Banks may impose restrictions on transactions related to cryptocurrency, so P2P and third-party payment methods are commonly used.

Compliance Recommendations

• ✅ Maintain records of all transactions for tax reporting.
• ✅ Use authorized P2P platforms for INR deposits and withdrawals.
• ✅ Follow updates on regulatory changes from RBI and SEBI.
• ✅ Consult a tax professional for guidance on crypto tax filings.

Bybit continues to comply with global financial regulations and is expanding fiat-to-crypto services where legally possible.

Conclusion

Bybit has established itself as a leading cryptocurrency exchange, offering low trading fees, high liquidity, and an advanced trading platform. Its wide range of trading options, including spot, futures, and copy trading, makes it a top choice for both beginners and experienced traders.

Bybit’s strong security measures, including cold storage, two-factor authentication (2FA), and Proof-of-Reserves audits, ensure a safe trading environment. Additionally, the platform provides 24/7 customer support, a well-designed mobile app, and multiple fiat on-ramp options, making it one of the best platforms for Indian traders.

While Bybit has certain regulatory restrictions in some countries, it remains a trusted and innovative exchange for global cryptocurrency trading. Ready to start trading? Sign up today and claim your welcome bonus!