Bybit App Review

If you were able to unlock the full power of derivatives trading with one tap, what would you do? Well, you don't have to wonder, as this is exactly what you can do with the Bybit mobile app. Thus, in this Bybit app review, we'll see whether it's as good as the desktop version of the exchange.

After all, traders usually prefer pursuing their crypto endeavors via the Bybit desktop app for a full-fledged experience. However, mobile trading comes in handy, especially when you're traveling.

So, how extensive are the features of the Bybit app? Are there any drawbacks? Worry not; you'll find all the answers in my Bybit app review!

Verdict at a glance: The Bybit app is the mobile trading version of the well-known crypto exchanges. Its 4.5/5 stars rating on Google Play Store does come with good reasons, as the mobile app’s UI, security, supported assets, robust trading modes, and 99.99% stable performance offer the ideal environment for trading. Unfortunately, the Bybit app is not accessible to US traders.

What Is the Bybit App?

Before going deep into this Bybit app review, let's start from the surface. Essentially, the Bybit trading app is the mobile counterpart of the desktop version, which is perhaps what most traders are more acquainted with. But there's more to what is the Bybit app than meets the eye.

Trading via the Bybit desktop app does come with an all-in-one experience. However, what if you're on the go and would like to see the price movements of a specific coin so you can take immediate action? Just like any other platform, this heightened level of flexibility is one of the many reasons why Bybit comes forward with its rendition of a mobile app.

As such, there’s not much difference between what is the Bybit app on mobile and desktop. Feature-wise, there are no step-backs, either. Any wonderful aspect Bybit is known for—the robust derivatives trading, the extensive token and coin collection, and the comparatively low fees—you’ll also find them on the Bybit trading app.

So, that’s all for what is the Bybit app. Let’s jump straight into the pros, cons, and pricing. Besides, if you’re wondering how to use the Bybit app and start trading on your phone, I'll cover that, too.

Bybit App Review: PROS

In this Bybit app review, I'll try to answer the most asked questions. How does the Bybit app distinguish itself from the desktop version? What specific features make the mobile app superior to the Bybit app for PC? Maybe both are simply the same or not so much. Let’s set aside our assumptions for now and get into the real evaluation right away.

A Trader’s Dream UI

One factor that sets mobile apps apart is their user interface (UI), which plays a central role in influencing end-user perceptions^[1]. As a trader, you’d be glad to know that this aspect is also worth highlighting in my Bybit app review.

Once you’ve downloaded the Bybit app for Android or iOS, you’ll immediately see a sleek, modern interface with a dark, polished background for a smooth user experience. At the bottom, you’ll see the navigational tab, which provides quick access to key sections: Home, Markets, Derivatives, Trade, and Assets.

For instance, the Markets section on mobile looks just as professional as the one on the Bybit desktop app. It gives you a focused yet fuller view of all the crypto pairs listed alongside their real-time market performance. Plus, you can easily switch between Spot and Derivatives markets with a single click.

Some traders prefer sticking to the same coins or tokens, while others prefer a bit of diversification. Whichever the case, you can save the crypto pairs you’ve been eyeing by clicking on the star icon and easily find them in the “Favorites” tab.

Now, how intensive is the UI, really, when catering to mobile trading? I’d say that the Bybit mobile app is not lacking at all. The charts are just as comprehensive, featuring real-time price movements that can be filtered to specific time intervals. Whether you’re a short-term or long-term trader, you can keep track of either the hourly or daily charts of the coins you’ve been watching.

Just like the Bybit Windows app, the mobile interface also integrates handy tools into its indicators. By clicking on the pencil icon, you can draw on the chart to gain estimations on potential upward or downward trends.

Likewise, the buy or sell interface is user-friendly. The right panel will show you the real-time price of a coin or token, helping you gauge the best timing to enter or exit the market (but don’t forget to protect your investments, of course!).

On the other hand, the left panel is where the real action happens. You can easily switch between buy or sell, select the crypto pairs you’d like to invest in (or use the search bar for faster results), and more. We will tackle this in more depth a bit later in my Bybit app review.

This side-by-side view of the real-time market prices and buy/sell functionality, coupled with an integrated trading chart, creates an ideal setup you’ll come to appreciate in the Bybit app.

Hands-On Security

Just recently in this Bybit app review, I did remind you that protecting your assets is paramount. But what specific security measures does the Bybit app offer? Thankfully, there’s plenty.

For starters, the Bybit trading app implements 2-factor authentication (2FA). While it is a standard security practice implemented by other platforms, enabling 2FA prevents hackers from trespassing on your account.

2FA might be a hassle for some users, which also raises the challenge of its widespread adoption^[2]. Well, you can breathe a sigh of relief as the Bybit app for Android and iOS supports third-party 2FA extensions that people commonly use, like Google Authenticator, aside from Yubi Key and Your Fund Authenticator.

Using Google Authenticator (which is also popular for its airtight security) or another 2FA service of your choice, Bybit will require you to save your Recovery Key Phrase (RKP). This acts as a failsafe in case you forget your password, lose your smartphone, or experience a technical malfunction.

RKP itself is a unique and secret password. In the Bybit trading app’s version, it comes either in the form of a QR code or a string of alphanumerics. It holds the encryptions that authenticate access to your funds, ensuring that it is truly you (and not some hacker in a Guy Fawkes mask) attempting to get in.

2FA is just one layer in Bybit’s security framework; there’s also the withdrawal address. Picture this (even though I understand you don’t want to), what if your account is compromised? That’s why you need to input your withdrawal address so that any amount of cryptocurrency the hacker sends will arrive to your other addresses.

Theoretically, it’ll also be pretty hard for hackers to liquefy your assets. On top of the real-time monitoring feature that will flag such activity as suspicious, Bybit subjects all withdrawals to more complex authentication procedures.

So, we’ve been talking about the Bybit trading app’s security on the user’s login level, but what about on a macro level? For protecting your funds, Bybit has triple-layer protection mechanisms:

• Asset Storage. Bybit stores all your funds offline in cold wallets. However, you can increase the security of your assets even more by using your own cold wallet, like the Ledger Nano X or Trezor Safe 5.
• Asset Protection. Through a combination of advanced multi-signature, Trusted Execution Environment (TEE), and Threshold Signature Schemes (TSE), Bybit protects your assets from unauthorized access.
• Asset Audits. Bybit employs a Proof of Reserve system, ensuring a 1:1 ratio between user deposits and the platform’s holdings.

It does appear like Bybit is taking significant strides in safeguarding its users. We can expect more progression as Bybit continues to strengthen the integrity of its platform through the Bug Bounty Program. Together with Hackerone, Bybit is committed to identifying and addressing security vulnerabilities so that you can trade in peace.

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Thousands of Supported Assets

So far, we know that Bybit’s mobile UI and security are quite impressive. But any Bybit app review won’t be complete without a rundown on the pretty impressive amount of cryptocurrencies it supports.

As of writing, Bybit lists over 1,400 tokens and coins. Whether you’re looking to incorporate the classics like Bitcoin and Ethereum or more niche altcoins into your portfolio, name the name—there’s a huge chance that Bybit can accommodate you. Just like how it goes on the Bybit desktop app, this expansive amount of assets can be accessible at your fingertips, as well.

Bybit even allows you to enter the world of decentralized finance (DeFi) and GameFi with its token selections. Or, if you’ve been following the updates of AI coins and DePINs, you can find many of them listed on Bybit, along with the tokens under Bybit Launchpad—the platform’s own “startup” for upcoming projects that show potential.

Most importantly, whether you’re a holder or a trader, you’ll be looking at crypto pairs. In Bybit’s spot market, 475 pairs are available, either pegged to fiat (like BTC/USD or USDT/EUR) or another crypto (like ETH/SOL or BNB/USDT).

Getting into the derivatives market—the melting pot in Bybit—there are 443 cryptos available to trade in perpetual contracts (no expiry date). Trending examples (as of writing) include SUI/USDT and BABYDOGE/USDT. There are also options to leverage your perpetual contracts at a significant margin with USDC or USDT pairs. Be wary, as this is risky.

The numbers you’re seeing here are quite huge to take in, but sometimes, having more options can be better than having fewer options—and Bybit gives you this privilege. While the platform performs a rigorous evaluation of the cryptocurrencies it takes in, note that additional due diligence on your part is always a must.

Trading in a Full Mode While Mobile

Nowadays, it seems nearly impossible to separate your mobile and PC. Even when you trade on the Bybit app for PC, you’ll need extra authentication on mobile. With that in mind, you’d be pleased to know that a seamless switch between PC and mobile trading is also a charm in this Bybit app review, but let’s focus on the latter.

I know you’re waiting for the most exciting stuff: spot and derivatives trading. That said, to execute such trades, you’ll need an account—and this is where Bybit’s Unified Trading Account (UTA) takes the spotlight.

UTA consolidates all your spot and derivatives trading assets in a single, unified account. Having this level of transparency will make it easier to manage your investments and enhance your capital efficiency. That way, you can plan the right strategies for your next move.

Now, let’s get into one of people’s most favorite modes of trading—spot trading. Surprisingly, when you trade on the spot market via the mobile app, it’d feel as if you’re trading on the Bybit app for PC—it’s just that extensive.

So, if you’re thinking of replicating your usual trading patterns on the Bybit app for PC to mobile, the same step-by-step process will work just fine (at your discretion, of course).

Bybit has a dedicated quick menu to spot trading called “Trade”. Once there, you’ll see the trade section is packed with a lengthy option of crypto pairs, a seamless switch between buy/sell, and, most importantly, the drop-down menu that caters to diverse order types.

One function that is quite the deal in this Bybit app review (as it is typically limited to desktop platforms) is Take Profit/Stop Loss. To prevent market manipulation, you can manage your risk by setting the price for opening (take-profit) and closing (stop-loss) a position.

Aside from those, you can manually enter the total cryptocurrencies to buy/sell or use the intuitive slider, then keep track of your open orders (or even cancel them if you’re unsure) in a centralized interface.

Next up—derivatives trading. If you’re familiar with the Bybit app for PC, you probably know that this is a winning aspect of the mobile platform, as well. Whether you’re looking to trade perpetual contracts, futures, or options with top-performing cryptos, Bybit has them all.

Just like how derivatives trading goes on the desktop platform, the Bybit app for Android and iOS allows you to long or short your trade and calculate potential profits or losses. Uniquely, the maximum leverage for derivatives is 200x. Keep in mind that this is a considerable spike (for instance, the highest margin for Spot is 5x), so only proceed when you are well-versed in this trading environment.

Taking it further, Bybit has recently launched a new program called pre-market perpetual trading. So, you’ll have the opportunity to speculate on the future value of tokens that are “pre-market”, or not yet listed on Bybit.

Some of these upcoming tokens include the projects that crypto enthusiasts (especially gamers) have been awaiting for, like the CATI token from the popular Telegram cat-cafe game. Just recently, the HAMSTR token from the tap-to-earn Hamster Kombat game has dropped on Bybit, too!

Minimal Crashes

As you can see from everything we've discussed in this Bybit app review, the platform offers a lot on the trading side of things. Just as equally important is how optimal you can execute the trade, which requires optimum stability from the platform—another category where the Bybit app for Android and iOS is good at.

Bybit is one of the largest exchanges based on its trading volume, which, as of writing, has reached over $5 billion. Therefore, it puts effort into increasing its transaction volume capacity, maintaining an uptime of 99%.

Crashes are quite inevitable, whether you’re accessing the Bybit Windows app or the mobile platform. But, such incidents are kept at a minimum even during peak volatile moments. Every 20 seconds, Bybit’s high-frequency trading engine processes incoming data to clear up the backlog.

As of now, Bybit handles 300,000 transactions per second, and their engine is running at full speed. The internal team has the goal of increasing this rate to 1 million transactions per second, so a lot of effort is being put into maximizing the capacity of their data-processing system.

Technical jargon aside, Bybit is committed to upholding its platform’s uptime. As a trader, you can enjoy this benefit without worrying that the mobile app is going to close itself in the middle of your trade, so to speak.

In case you're doing something important and the platform crashes, Bybit's customer service—known for its excellence—will tend to you 24/7. After gathering user Bybit app reviews, a lot of traders find that the CS desk constantly provides clear and helpful answers.

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Bybit App Review: CONS

Just like the Bybit Windows app, its mobile platform is pretty solid, too. However, a Bybit app review wouldn’t be complete without discussing its drawbacks. Though, I'd say there is only one that I would note.

Doesn't Operate in the US

The US is one of the countries with the highest number of crypto adopters. So, it’s a bit of a bummer to find that Bybit does not open its door to US traders.

How come? If you’re curious, the regulatory landscape for cryptocurrency in the US is pretty complex. In fact, there is a handful amount of crypto exchanges allowed in the US, like Kraken and Coinbase. After all, the SEC (Security and Exchange Commission) keeps on implementing tighter scrutiny, especially after events like the FTX tragedy.

	KRAKEN	COINBASE
Overall Score	9.4	9.1
Best For	Best for Beginners	Buying, Selling, and Managing Cryptocurrencies
Operating Countries	United States, Germany, United Kingdom, France, Canada, + 190 more	United States, United Kingdom, Germany, Canada, France, + 100 more
Latest Coupons	Visit Site All Kraken Coupons	GET $200 REWARD All Coinbase Coupons
Verdict	One of the best crypto exchanges.	A reliable, well-known and respected cryptocurrency exchange platform.
	Visit site Read review	Visit site Read review

Table: Kraken VS Coinbase comparison.

Aside from the US, Bybit is also unavailable in the following countries:

• The United Kingdom
• Mainland China
• Singapore
• Canada
• North Korea
• Iran
• Uzbekistan
• Ukraine
• Syria

Having all this knowledge about the platform's features from my Bybit app review, you might be wondering if you can use a VPN in areas where Bybit is restricted. Allow me to stress that you should not try that out, as it’s against the platform’s Terms of Service (and we wouldn't want you to serve any detention).

In specific jurisdictions, like France and Spain, Bybit’s operations are also in a grey area. In others, like Australia, Bybit hasn’t obtained an official license from the regulating body AUSTRAC (Australian Transaction Reports and Analysis), but it still reports to the Australian Government.

Don’t be sad, though! Bybit is still accessible in 160+ countries around Asia, Europe, Africa, and the UAE (United Arab Emirates). It has also attained dual international licenses: one from CySEC (Cyprus Security and Exchange Commission) and another from Dubai’s Virtual Assets Regulatory Authority.

Besides, if you really cannot access Bybit, there are other noteworthy exchanges on the market.

Bybit Pricing and Fees

Cons aside, another advantage I haven’t yet discussed in this Bybit app review is its low trading fees. As the mobile app is the same as the main Bybit Windows app, there is no need to worry about discrepancies in the costs, either.

In general, the maker/taker fee on Bybit is a flat 0.1%, which is exceptionally low (the market average is around 0.2 to 0.3%). But wait, who is a maker and who is a taker? You’re a maker if you initiate orders that aren’t instantly executed, thus providing liquidity for another person (or the taker) who is interested in immediately buying or selling.

Bybit also has a VIP program. The higher your level, the lower your fees. However, there are certain criteria to be met. For instance, if you have an asset balance of $100K, with a last 30-day spot trading volume of $1 million, you’re considered a VIP 2 and are therefore entitled to tier-specified discounted rates. Here is the fee structure in more detail:

Table: Bybit's VIP and PRO-tier trading fees.

Note that the table you’re seeing is applicable to crypto-crypto pairs exclusively. For crypto-fiat pairs, like USDT/EUR, the trading fees are slightly higher at 0.15% for makers and 0.2% for takers.

Plus, if you’re a non-VIP user and interested in participating in Bybit’s brand-new perpetual pre-market trading, the fees are 0.4% for makers and 0.1% for takers. There may also be different trading fees, depending on the product. So, make sure to consult Bybit on this matter.

How to Use the Bybit Trading App

Now that you know what is the Bybit app, its pros, cons, and pricing, let's see how to sign up and start trading on this platform. Without a step-by-step guide, this wouldn't be a full-fledged Bybit app review, now would it?

How to Sign Up for a Bybit Account

Before we get onto how to use the Bybit app, first and foremost, you’ll need to sign up. One question that frequently arises is, “Is KYC also mandatory on the mobile Bybit trading app?”. Let’s delve into that while going through the step-by-step guide to creating an account.

Step 1: Download the official Bybit app on the Google Play Store or Apple App Store. Once the download is complete, open up the app.

Step 2: Click on “Sign Up”. There are two options to create an account: either using your Email or Phone Number. Fill in your details.

Step 3: Complete your reCAPTCHA verification.

Step 4: Enter the verification code you’ve received based on the method of registration you’ve previously selected. For instance, if you choose email, check your inbox or spam. If you choose phone number, you’ll receive an SMS code.

And that’s that! But wait… There’s no KYC? Bybit does it a bit differently. For signing up, there’s no need for KYC. However, to start trading, completing KYC will be a must.

Once your account setup is finished, a “Welcome to Bybit” screen will appear. This is where the platform will ask you to verify your identity, such as uploading a photo of your ID and confirming with a selfie.

How to Start Trading on the Bybit App

Once your identity is verified, congratulations—you can start using Bybit’s services: spot, derivatives, USDC options trading, and more. With that in mind, let’s figure out how to use the Bybit app for spot trading, particularly how you can buy some crypto.

Step 1: Tap on the “Markets” icon in the navigation menu located at the bottom. Make sure to switch to the Spot tab and select the crypto pair you'd like to trade.

Step 2: Click on the green "Buy" button.

Step 3: Once you’re in the buy interface, you can choose between limit, market, or conditional order.

Step 4: Input your buy price. Then, specify the quantity of tokens you’d like to buy by manually entering the amount (either in the selected token’s currency or USDT) or using the slider (from 1% to 100%).

Step 5: Once all is set, click on the buy button. Before confirming your order, Bybit will display a pop-up with the final order price, quantity, and value for you to review.

And we're done with the steps for spot trading! More or less, the procedures for how to use the Bybit app for derivatives trading will be similar. Of course, apart from any derivatives-trading-specific things.

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Conclusion

That concludes my Bybit app review. Just like the PC counterpart, the mobile app is superior in a lot of ways, especially with its intuitive UI and minimal crash incidents. It also comes with features that Bybit traders are fond of: full-mode trading, high-level security, and, best of all—thousands of supported tokens and coins.

However, until today, Bybit is still not authorized to operate in the US and other regions. Plus, its derivatives trading (well, all derivatives trading) does carry some levels of risk, more so for beginners.

All in all, both the Bybit mobile and desktop apps are pretty solid, providing versatility for traders who like a bit of this and that.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Chen, Q., et al.: 'How Should I Improve the UI of My App?: A Study of User Reviews of Popular Apps in the Google Play';

2. Petsas, T., et al.: 'Two-factor authentication: is the world ready?: quantifying 2FA adoption'.