Bybit exchange review
One of the world's largest futures exchanges — but with mandatory KYC.
Bitfa rating: 4.2 out of 5
Bybit at a glance
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Bybit review
Bybit is among the world's top two or three exchanges by futures trading volume and has a professional, stable platform. But there's one big problem for Iranian users: KYC is mandatory on Bybit, and Iranian documents are not accepted.
That's why using Bybit puts Iranian users' assets at risk of being frozen, and Bitfa does not recommend it; no-KYC options such as LBank and Toobit are safer alternatives. This review is here only to give you a full understanding of the market.
History of Bybit
Bybit was founded in 2018 and today ranks among the world's leaders in futures volume; its stable, professional platform is renowned. But mandatory KYC and its refusal to accept Iranian documents make it high-risk for Iranian users.
Is Bybit suitable for Iranian users?
Bybit fees
| Spot fee | 0.1% |
|---|---|
| Futures fee | 0.02% / 0.055% |
Bybit pros and cons
✔ Pros
- Excellent liquidity and market depth
- Highly professional futures platform
- Strong security and verifiable reserves
✖ Cons
- Mandatory KYC — Iranian documents not accepted
- Risk of assets being blocked for Iranian users
- Requires a VPN at all times
🔍 This review is based on real testing by the Bitfa team (sign-up, deposit, trading and withdrawal with our own money) and is updated whenever the exchange's conditions change.
Step-by-step guide to signing up on Bybit
Go to the exchange's website
Use the sign-up button on this page to go to the exchange's official website.
Create an account
Sign up with your email and enter the email verification code; choose a strong password.
Identity verification (KYC)
Upload the identity documents the exchange requires and wait for approval.
Deposit and start trading
Fund your account with USDT and place your first trade — ideally with a small amount.
Is Bybit good for trading? (Bitfa's verdict)
There's no denying the quality of Bybit's platform, but for Iranian users the risk of having assets frozen is serious, and Bitfa does not recommend using it. You get the same features (deep futures markets, professional tools) on LBank and Toobit without mandatory KYC.
Sign up on BybitBybit FAQ
Can Iranian users sign up on Bybit?
The initial sign-up may be possible, but KYC is mandatory and Iranian documents are not accepted; carrying on without valid verification puts your assets at serious risk of being frozen.
What is the alternative to Bybit for Iranian users?
Exchanges without mandatory KYC, such as LBank, Toobit, Bitunix and WEEX, which accept Iranian users and offer similar futures features.
Reviews of the top Iranian and global exchanges
⚠️ Risk warning: trading cryptocurrency, especially leveraged futures, carries high risk and may result in the loss of your capital. This page is for information only and is not investment advice. Some of the links on this page are affiliate links.