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ByBit
Bybit Exchange Reviews
03/19/2024

Bybit Exchange Reviews

03/19/2024
4,4

We gathered the main reviews about the Bybit cryptocurrency exchange from real users. Is it worth using the exchange? Let's find out together

Any platform and any service on the Internet can present itself in any way: the best, the fastest, the most honest, but all this is easily broken down by the most critical thing — user reviews. We analyzed user reviews about the Bybit exchange and made a summary of the most essential points worth knowing before starting to do something.

Bybit Reviews

As elsewhere, reviews of the Bybit exchange can be divided into positive and negative, and much of the reviews depend on where they are posted.

Bybit Reviews in Social Media 

Shedrack Dogo, a Top Affiliate Marketer, on LinkedIn, for example, has shared quite a common opinion about the exchange. He made a review, which mentioned that "Bybit is a reliable and user-friendly platform that offers a range of features and services for traders of all levels." 

Reddit also gave us a couple of reviews, among which we found the following one:


Source and Copyright © Reddit

At the same time, we could see the negative experience of using Bybit exchange (robbing and useless support) in the comments, like the following ones:


Source and Copyright © Reddit


Source and Copyright © Reddit

It is interesting, that we found quite little info on social media. We suppose that happened because most people share their opinions and reviews on specialized websites. Thus, let's go and check what's going on there.

Bybit Reviews at Review Websites

Of course, you can find more reviews on specialized review sites than on social networks. People share their stories and experiences in detail — both positive and negative.

In general, if we consider the positive reviews about the Bybit exchange, people highlight the following advantages of the service:

  • Allows for trading with up to 100x leverage
  • Funds are stored in cold wallets
  • Clean and easy-to-use interface
  • Generous referral and affiliate program


Source and Copyright © Trustpilot


Source and Copyright © Trustpilot

If you look at the negative reviews about the Bybit exchange, you may come across the fact that they seem to be from a parallel reality. Everything that some point out as pros, others mirror and call cons:

  • No KYC required
  • Delisted by FCA
  • Restrictions on fiat-to-crypto conversion
  • The US and the UK are restricted countries
  • Not suitable for beginners as it is designed for advanced traders
  • Weak support and help center 
  • Often accounts block without reasons


Source and Copyright © Trustpilot 


Source and Copyright © Stejabber


Source and Copyright © Stejabber

Bottom Line: Is It Worth Wrading on Bybit?

It is difficult to recommend this or that exchange to a specific person, since in any service you can find both positive and negative aspects. This is what the reviews we cited above show. The exchange cannot satisfy the needs of all users, because there are no things in the world that absolutely everyone likes; and this is fine. No matter what the top exchange is, there will be people and cases that completely negate certain advantages.

The Coinbureau website, for example, made an analysis of reviews, where there were more positive ones than negative ones. In general, there are more loyal customer experiences with the exchange online, except for websites that are specifically designed to share negative experiences.

That is why there is no clear answer to the question of whether it is worth trading on Bybit. You can evaluate all the pros and cons, do DYOR, weigh all the risks, read more specific reviews about the service, and only then decide for yourself whether it’s worth using the Bybit exchange. Bybit reviews are only assistants, but at the same time, they are also “reasoners” who complicate the process of choosing an exchange.

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