Bybit Review for 2023: Leading the Cryptocurrency Frontier

Traders Union

Scoring 9.65 out of 10 on the TU Overall Score, Bybit stands as a pinnacle in the cryptocurrency exchange world. After analyzing the trading opportunities, Traders Union experts endorse Bybit. Its superior performance places it at the top, securing the 1st rank among 199 companies in the Rating, evaluated against 100+ benchmarks.

Delving into Bybit

Founded in 2018, Bybit is tailored for those progressing beyond traditional crypto platforms, delving into advanced derivatives. While its wallet offerings are presently limited, plans to include BCH, ADA, DOT, and other altcoins are in the pipeline. This exclusive derivatives trading hub offers both inverse and perpetual futures contracts, boasting up to 1:200 leverage. Bybit provides quarterly USD futures paired with renowned tokens such as BTC, ETH, XRP, and EOS, alongside a linear futures contract for BTC/USDT. Notably, Bybit introduces innovative measures like mutual insurances for traders against abrupt price changes and has provisions for balancing long and short positions. Extra details about the broker can be found in TU Bybit review for 2023.

Key trading conditions at Bybit:

  • Account Currency: Cryptocurrencies only.
  • Starting Deposit: From just USD 1.
  • Leverage: As high as 1:100.
  • Commission Fee: Starts from USD 1.
  • Trading Pairs: Includes BTC/USD, ETH/USD, and several USDT pairings.
  • Margin Call / Stop Out: None.

Understanding Bybit: Key Strengths and Limitations in 2023

As the world of cryptocurrency trading continues to expand, platforms like Bybit have carved a niche for themselves. Bybit, a renowned trading platform, offers some compelling advantages, from its user-friendly browser-based platform to its flexible contract options. However, like any trading arena, it also presents its set of challenges, especially for novices.

Pros of Using Bybit:

  • Browser-based proprietary platform ensures smooth operations without OS conflicts.
  • Offers both futures and perpetual contracts trading.
  • Features an order book for depth market assessment and real-time trading volumes.
  • Low entry threshold with BTC/USD futures contracts priced at just USD 1.
  • Enables long and short positions with mutual adjustments.

Cons of Using Bybit:

  • Futures trading conditions can be overwhelming for beginners due to intricate calculations and terminologies.
  • Absence of a robust dispute resolution mechanism to safeguard trader interests.
  • Limited classic cryptocurrency trading options with only USDT, BTC, and ETH available for acquisition.

Bybit overview from Traders Union experts

Bybit, a budding cryptocurrency exchange, specializes in derivatives and competes effectively with larger platforms. Its success lies in its blend of user-friendly design and advanced technology. The platform offers a unique trading experience with a custom interface and a low minimum deposit of just 1 US dollar. While it focuses on four main assets, they’re available in varied formats like inverse and perpetual. Its unique “American option”-based mutual insurance provides a safety net during price drops. The platform is evolving, upholding its promises, and is recognized by TU for its commitment to traders.


Bybit has solidified its position as a leading force in the cryptocurrency trading domain, striking a balance between user-friendly operations and intricate, advanced offerings. Its emphasis on innovation and security, coupled with its commitment to broadening its asset base, underscores its forward-thinking approach. For traders seeking a platform that melds the foundational aspects of cryptocurrency trading with cutting-edge derivatives options, Bybit emerges as a top contender. Its recognition by experts and institutions like Traders Union further attests to its credibility and potential in the rapidly-evolving crypto landscape.

Read this next

Institutional FX

Verto launches EM FX marketplace: NGN, ZAR, XAF, XOF, KES, GHS, UGX

“We’ve seen significant pent-up demand looking for counterparties, which is one of the reasons we’re launching this product. We built Verto Marketplace to directly address these systemic issues, offering a platform that provides the control, transparency, and cost-efficiency that traders, brokers, and corporate treasurers need.”


BVNK launches Swift payments to move between fiat and stablecoins

“Adding USD and EUR via Swift means that our customers can really take full advantage of stablecoins to speed up their money movement, wherever they are based – and they can easily get back into fiat currencies if and where they need to.”

Market News

Base metals could soon take off from the base again

Dive into our full analysis to understand the potential resurgence of base metals and what it could mean for your investment strategy.

Digital Assets

Global clamp down on crypto tax evasion to go live in 2027

“As jurisdictions that play host to active crypto markets, we therefore intend to work towards swiftly transposing the CARF into domestic law and activating exchange agreements in time for exchanges to commence by 2027.”

Digital Assets

Ripple and Archax team up for tokenization with XRPL

“There is clear real-world utility in use cases like RWA tokenization for the operational efficiency, access to liquid markets and transparency inherent to crypto, and Archax has already tokenized assets such as equities, debt instruments and money market funds. Financial institutions are now understanding this and we are excited to play our part in helping them to embrace the technology by bringing their assets onto the XRPL.”


Acuity Trading at iFX EXPO LATAM: Andrew Lane on the rise of AI and prop trading

At iFX EXPO LATAM 2024, Acuity Trading’s Andrew Lane discussed the successful rollout of their Research Terminal, the impact of AI on the trading industry, competition from AI-powered solutions, emerging market trends in Latin America, and the rise of prop trading, while addressing regulatory challenges and innovations.


Top Crypto Highlights for Q2 2024: BlockDAG’s Astonishing 1120% Growth Compared to Solana’s Surge and Toncoin’s Market Triumph

Explore the latest highlights in cryptocurrency: Solana’s recovery, Toncoin’s record levels, and the rise of BlockDAG’s innovative technology.

Digital Assets

Ripple seeks $10 million penalty citing Terraform fine in SEC case

Ripple Labs wants to reduce the financial penalties proposed by the U.S. Securities and Exchange Commission (SEC) by leveraging recent fines imposed on Terraform Labs.

Digital Assets

Swiss regulator shuts down CoinShares’ partially-owned FlowBank

Switzerland’s financial regulator, FINMA, has closed FlowBank SA and placed it into bankruptcy due to severe breaches of capital requirements and other supervisory laws. This follows a series of enforcement actions against the bank that began in October 2021.