Bybit Review

• Spot Trading: 0.1% maker, 0.1% taker. Standard across most mid-tier exchanges.
• Futures Trading: 0.02% maker, 0.055% taker. Among the most competitive in the industry.
• VIP Tiers: Based on asset balance and trading volume. At VIP 3+, spot fees drop to 0.04% maker, 0.06% taker.
• Fiat Purchases: Card purchases carry a 1.1% fee for EU cards, 2.7%-3.05% for non-EU cards. P2P trading has zero platform fees.
• Deposits: Free for crypto deposits.
• Withdrawals: Network fees only, with multiple network options.

Bybit's spot fees are standard, but the futures fees are excellent if you trade derivatives. The fiat on-ramp fees via card are on the higher side.

This is the most important section for Bybit. In February 2025, hackers linked to the North Korean Lazarus Group exploited a vulnerability in a third-party multi-signature wallet interface (Safe{Wallet}) to steal approximately $1.4-1.5 billion in ETH from Bybit's cold storage.

What happened after:

• Bybit paused withdrawals immediately upon discovery
• Within 72 hours, the exchange replenished reserves through emergency funding from partners including Galaxy Digital, FalconX, and Wintermute (approximately 447,000 ETH)
• All user funds were protected. No customer lost money.
• Subsequent investigations by Sygnia Labs and Verichains confirmed the vulnerability was in the third-party Safe{Wallet} JavaScript, not in Bybit's own infrastructure
• Bybit's Proof of Reserves reports (audited by Hacken) showed 100%+ asset coverage within days of the incident

Current security measures: Cold storage, 2FA (TOTP), passkeys, address whitelisting, fund password, monthly Proof of Reserves audited by Hacken with Merkle tree verification.

The way Bybit handled the crisis was impressive from a user protection standpoint, but the fact that a $1.4B exploit occurred at all is a legitimate concern. Users should weigh the improved security against the historical incident.

Bybit lists a solid range of gaming tokens: AXS, SAND, MANA, GALA, IMX, BEAM, PIXEL, GMT, YGG, BIGTIME, SHRAP, MAVIA, XAI, PORTAL, PRIME, NYAN, SWEAT, WLKN, CTA, GOG, and PIRATE.

The selection is reasonably broad and covers most major and mid-tier gaming tokens. Bybit is typically faster to list new gaming tokens than Coinbase or Kraken, though not quite as aggressive as KuCoin or MEXC.

Bybit's interface is widely praised for its clean, intuitive design. The trading view is less cluttered than Binance's while still providing professional-grade tools.

• Spot Trading: Clean order entry, TradingView charts, order book, and trade history.
• Copy Trading: Bybit operates the largest copy trading ecosystem in crypto. You can follow experienced traders and automatically replicate their trades. This is useful for gaming token traders who want to follow analysts specializing in GameFi.
• Mobile App: Well-designed, fast, and includes all platform features. Rated 4.5+ on app stores.
• Web3 Wallet: Supports Ethereum, BSC, Polygon, Arbitrum, and other networks for direct DApp interaction.

For beginners, Bybit strikes a good balance between simplicity and functionality. The interface is less intimidating than Binance but more featured than Coinbase.

• Crypto Deposits: Free on all supported networks.
• Fiat Purchases: Credit/debit card (1.1%-3.05% fee depending on region). P2P trading (zero platform fee). Bank transfer available in select regions.
• Crypto Withdrawals: Network fees only. Multiple networks supported.
• Processing Time: Most crypto withdrawals complete within minutes.

The main limitation is the card fee structure, which is expensive for non-EU users.

Bybit is a strong choice for active traders outside the US/UK who value a clean interface, competitive derivatives fees, and access to copy trading. The copy trading feature is particularly interesting for gaming token investors who want to follow GameFi-focused traders.

Beginners will find Bybit easier to navigate than Binance, making it a good middle-ground option.

Users who are risk-averse may want to consider the 2025 hack history. While Bybit handled it well, the incident demonstrates the importance of not keeping large amounts on any exchange.

1. Create a Bybit account at bybit.com and complete identity verification.
2. Fund your account by depositing crypto from another wallet (free), buying with a credit card, or using P2P trading.
3. Search for your token by navigating to "Spot" trading and searching for the gaming token you want (e.g., "BEAM" or "MAVIA").
4. Place your order by selecting Market for instant execution or Limit for a specific price.
5. Explore Copy Trading (optional) by visiting the "Copy Trading" section to find traders who focus on gaming tokens. You can allocate a portion of your portfolio to automatically mirror their trades.
6. Withdraw to your game wallet by going to "Assets," then "Withdraw." Enter your wallet address, select the network, and confirm.