Bybit review: availability, registrations, custody, and fees
Bybit is a large derivatives focused crypto exchange available in many countries. It is not open to United States residents. Across the European Economic Area it serves clients through a MiCA licence held by its Austrian entity. Availability and the product set vary by country.
Information, not advice. This is general information, not legal, tax, or financial advice, and it is not a recommendation to use any platform. Verify the current rules with a qualified local professional and the official regulator before acting.
Bybit is a large, custodial crypto exchange founded in 2018 and known primarily for derivatives trading alongside spot markets. As of February 2026 it is available in many countries and serves the European Economic Area through Bybit EU GmbH under a MiCA licence from the Austrian Financial Market Authority, but it does not accept United States residents. Fees for active traders are generally competitive. Whether you can use it legally depends entirely on your own country, so check that first.
What Bybit is
Bybit was founded in 2018 and built its reputation on derivatives trading, particularly perpetual futures, alongside a spot market, options, and a range of related products. It is custodial, meaning Bybit holds the assets in your account on your behalf rather than handing you the private keys. The platform is widely used by active traders for its product depth and liquidity.
Bybit has also moved toward regulated structures, including a European entity authorised under MiCA. It is relevant context that in February 2025 Bybit disclosed a major security incident in which a large amount of crypto was stolen from one of its wallets, one of the largest exchange thefts on record. The company stated that customer funds were covered and operations continued, but a reader weighing the platform should treat operational security history as one factor among several (as of February 2026).
Where Bybit is available
As of February 2026 Bybit is available to residents of many countries across Asia, the Middle East, Latin America, and parts of Europe. The clearest exception is the United States. Bybit lists the United States as an excluded jurisdiction and does not accept United States residents or citizens, a position that reflects United States money transmission and registration requirements. Anyone in the United States should look to a platform registered to operate there instead.
Across the European Economic Area, Bybit serves clients through Bybit EU GmbH, which holds a MiCA licence from the Austrian Financial Market Authority secured in 2025, ahead of the 1 July 2026 transitional deadline. Available products and supported assets differ by country, and a set of jurisdictions is restricted, typically those under sanctions or with specific local rules. The country pages on this site track the position market by market, so confirm what is offered in your location before you sign up.
Registrations and licences
- European Economic Area. A Markets in Crypto Assets (MiCA) crypto asset service provider licence held by Bybit EU GmbH, authorised by the Austrian Financial Market Authority, used to serve clients across European Economic Area countries (as of February 2026).
- United States. Not available. Bybit lists the United States as an excluded jurisdiction and holds no United States registration to serve retail users there (as of February 2026).
- Other markets. Bybit has pursued registrations and approvals in further jurisdictions and publishes the current list on its own site, which is the most current reference (as of February 2026).
Each registration is stated as of 21 June 2026. Licences and registrations change. Confirm the current position on the regulator register and the licences page of the platform before acting.
Custody, fees, strengths, and limitations
Bybit is custodial by default, holding your assets in its own wallets. Users who want to control their own private keys move funds to a separate self custody wallet. Following the 2025 security incident the company emphasised its reserves and security measures, but no platform can be described as risk free, so this is context to weigh rather than a guarantee.
On fees, Bybit uses a tiered maker and taker model across spot and derivatives that is generally competitive for active traders, with the derivatives markets being its core strength. Exact pricing changes over time and varies by product and region, so confirm the current schedule on the platform before trading.
In plain terms, the strengths are deep derivatives liquidity, a broad product set, competitive trader fees, and a settled European licence. The limitations are the absence of the platform in the United States, the security incident in its recent history, and the custodial default. None of this is a recommendation to use or avoid the platform, only the factual picture to weigh against your own country and needs.
Bybit is one of several platforms, and whether it is available depends on where you live. Rather than assume, compare the exchanges that are genuinely available in your country before you choose.
Regulator and sources
The relevant regulator for the European entity is the Austrian Financial Market Authority, which authorised Bybit EU GmbH under MiCA. The United States exclusion reflects United States money transmission and registration requirements overseen by FinCEN and state regulators.
- Bybit, official terms of service and regulatory pages on its European MiCA licence and excluded jurisdictions.
- Austrian Financial Market Authority public register of authorised crypto asset service providers.
- Contemporary reporting on Bybit securing its MiCA licence and on the February 2025 security incident.
Frequently asked questions
Is Bybit legal to use?
In most countries where it operates Bybit is a registered or licensed provider rather than a banned service. As of February 2026 it serves clients across the European Economic Area through a MiCA licence held by Bybit EU GmbH from the Austrian Financial Market Authority. Legality of using it still depends on your own country, so check your local rules.
Can United States residents use Bybit?
No. As of February 2026 Bybit lists the United States as an excluded jurisdiction and does not accept United States residents or citizens. United States users should look to a platform that is registered to operate in the United States instead. This is information, not advice.
Does Bybit hold a MiCA licence?
Yes. As of February 2026 Bybit EU GmbH holds a Markets in Crypto Assets (MiCA) crypto asset service provider licence from the Austrian Financial Market Authority, used to serve clients across the European Economic Area through its regulated European entity.
Does Bybit hold my crypto for me?
Yes by default. Bybit is a custodial platform that holds the assets in your account on your behalf. If you prefer to control your own keys you would move funds to a separate self custody wallet. This is information, not advice.
What are Bybit fees like?
Bybit uses a tiered maker and taker schedule for spot and derivatives trading that is generally competitive for active traders. Exact pricing changes over time and varies by product and region, so check the current fee schedule on the platform before trading (as of February 2026).
Rules change frequently. Exchange availability, registrations, and the rules that govern them can change at short notice and vary by region. The position on this page is dated 21 June 2026. Confirm the current status with the named regulator and the platform before you act.
Related pages
Subscribe to The Compliance Ledger
One short email when a rule or an exchange status shifts where it matters to you. No noise, no hype.