Bybit Review 2026: Is Bybit Safe? Fees, Pros and Cons

Last Updated: October 21, 2026

Bybit is one of the world’s largest crypto exchanges, with more than 80 million registered users and about 10% of spot trading volume among the 10 largest centralized exchanges in the second quarter of 2026, second only to Binance, according to CoinGecko data. Founded in 2018 as a derivatives platform, it now offers spot trading, futures and options, copy trading, savings products, a crypto card and, more recently, tokenized stocks and other traditional assets. It is also the exchange that suffered the largest crypto theft on record, losing about $1.5 billion in Ether in February 2025, a loss it covered without freezing customer withdrawals. This review covers Bybit’s fees, products, security, licences and availability as of October 2026, to help you decide whether it suits you.

Bybit at a Glance

Feature	Details
Founded	March 2018
Headquarters	Dubai, UAE (EU base in Vienna)
CEO	Ben Zhou (co-founder)
Registered users	80 million+ (end of 2025)
Spot fees	0.10% maker / 0.10% taker
Perpetual futures fees	0.02% maker / 0.055% taker
Spot coins	389 coins and 519 pairs, according to CoinGecko
Proof of reserves	Monthly, verified by Hacken; BTC 104%, ETH 103%, USDT 110% (September 2026)
Key licences	MiCA (Austria), UAE SCA, Kazakhstan AFSA, India FIU registration
Not available in	US, Canada, Singapore, mainland China, Hong Kong and other restricted regions
CoinGecko Trust Score	9/10

What is Bybit?

Bybit is a centralized cryptocurrency exchange that lets users buy, sell and trade digital assets, trade derivatives such as perpetual futures and options, and earn yield on idle balances. European customers are served by a separate company, Bybit EU GmbH, which is licensed in Austria under the EU’s Markets in Crypto-Assets (MiCA) regulation. Bybit describes itself as the second-largest exchange in the world by trading volume, and on CoinGecko’s Bybit futures page its derivatives market handled about $7.2 billion in 24-hour volume on October 20, 2026.

Why Choose Bybit?

Bybit’s main strengths are deep derivatives liquidity, low trading fees, a wide product range in a single app and a record of keeping withdrawals open under pressure. Active traders get perpetual futures, options, trading bots and copy trading, while beginners can buy crypto with a card, use P2P trading with no fees and put balances into savings products. Since 2025, Bybit has also added gold, forex, indices and stock contracts, tokenized US equities and, from October 2026, trading in more than 1,000 US stocks and ETFs for eligible users. These features make Bybit an attractive option compared with other best crypto exchanges in the market. The main drawbacks are that it is not available in the US, its record includes the 2025 hack and several regulatory fines, and its spot coin selection is smaller than at Binance or KuCoin.

Bybit Team & History

Ben Zhou co-founded Bybit in March 2018 and remains its CEO; co-CEO Helen Liu left the company in April 2026. The company started in Singapore and moved its headquarters to Dubai in 2022, where it received provisional approval for a virtual asset licence from the Virtual Assets Regulatory Authority in September 2024. It has since expanded into Abu Dhabi, opened its EU headquarters in Vienna after winning a MiCA licence in May 2025, and entered markets such as Kazakhstan, Georgia and Türkiye.

Bybit passed 70 million users in May 2025 and 80 million by the end of 2025. Its defining moment came on February 21, 2025, when North Korean hackers stole about $1.5 billion in Ether from one of its cold wallets. Bybit replaced the missing Ether within days using loans and purchases, kept processing withdrawals and later sued North Korea in a US court to recover the funds.

Key Features of Bybit Exchange

Bybit’s product range in October 2026 includes:

• Spot trading in about 390 coins, plus margin trading.
• Derivatives: USDT and USDC perpetual futures, inverse contracts, dated futures and options.
• Copy trading and trading bots for users who want to follow other traders or automate strategies.
• Bybit Earn: flexible and fixed savings, on-chain staking and structured products.
• TradFi: contracts on gold, forex, indices and stocks, tokenized US stocks (xStocks) and USDC-funded trading in US stocks and ETFs for eligible users.
• P2P trading, Bybit Card and Bybit Pay for buying crypto with local currency and spending it.
• Bybit AI, an in-app assistant launched in September 2026 that answers questions, helps users navigate products and can place trades through a separate AI sub-account.

User-Friendly Design and Functionality

The Bybit app and website use one account for all products, with a simplified mode for buying and selling and a full trading interface with charts, order books and advanced order types. In October 2026, Bybit revamped its app to bring crypto, stocks, Earn and its on-chain Alpha section into one view. New users may still find the number of products overwhelming, but the core buy and sell flow takes only a few taps.

Leverage Trading

Bybit offers leverage on perpetual and dated futures, with up to 100x on major contracts such as Bitcoin and Ether on the global platform, and lower limits on smaller coins. Spot margin trading is also available. High leverage amplifies losses as well as gains, and positions can be liquidated quickly in volatile markets. Leverage is not available everywhere: Bybit’s UK service, for example, offers spot and P2P trading only.

Advanced Order Types

Besides market and limit orders, Bybit supports conditional orders, take-profit and stop-loss orders, trailing stops, and algorithmic orders such as TWAP and iceberg orders, which split large trades into smaller pieces. In October 2026 it added percentage-of-volume (POV) orders for spot trading. These tools are mainly aimed at active and institutional traders.

Educational Resources

Bybit Learn publishes guides on crypto basics, trading strategies and market analysis, and the exchange runs a demo trading mode where users can practise futures trading with test funds. The Bybit AI assistant can also explain products and features inside the app.

Derivatives Trading

Derivatives are Bybit’s core business. It lists 937 derivatives pairs on CoinGecko, with about $13 billion in open interest on October 20, 2026. Products include USDT- and USDC-margined perpetuals, inverse perpetuals and futures settled in crypto, and options on Bitcoin, Ether and other assets. In 2026, Bybit expanded its TradFi perpetuals to more than 200 assets, added options on stock perpetuals, starting with Nvidia and SpaceX, and launched Bybit Odds, simple fixed-payout contracts on Bitcoin and Ether prices.

Liquidity and Market Depth

Bybit’s liquidity is among the deepest in crypto, especially in derivatives. CoinGecko gives it a Trust Score of 9/10. Its spot volume moves a lot from day to day: on October 20, 2026, CoinGecko recorded about $2.07 billion and CoinMarketCap about $1.89 billion. For large Bitcoin and Ether trades, spreads on Bybit are typically tight.

Bybit Launchpad

Bybit’s token-launch products have shifted over time. Its Launchpool lets users stake tokens to earn new ones, and Bybit Alpha, revamped in 2025, offers on-chain token discovery and farming from inside the exchange account. Bybit also backs Byreal, a Solana-based decentralized exchange launched in October 2025. New token listings carry high risk, and many fall sharply after launch.

Bybit Cloud Mining

Bybit launched Ether cloud mining in 2021, but the product is no longer listed among Bybit’s products. Bybit also cut back its Web3 services in 2025: it closed NFT Pro, its inscription marketplace and its IDO platform in April 2025, and its NFT marketplace, cloud wallet, keyless wallet, DEX Pro and swap and bridge tools on May 31, 2025. Bybit said at the time that its seed-phrase wallet, airdrops, on-chain staking and DApp access would remain, and in October 2025 it rebranded Bybit Web3 as Bybit Alpha.

Bybit Savings

Bybit Earn offers flexible savings, which can be withdrawn at any time, and fixed-term savings with higher rates for locking funds. Rates vary by coin and change often, and promotional rates usually apply only to small balances. Savings balances are not bank deposits and are not covered by deposit insurance.

DeFi and Staking Services

Bybit offers on-chain staking for coins such as Ether and Solana, including bbSOL, its own Solana liquid staking token, and access to DeFi yield products through Bybit Earn and Bybit Alpha. Staking rewards depend on the network and carry risks such as lock-up periods, slashing and smart-contract failures.

Security Aspects of Bybit

Bybit’s security record is defined by the February 21, 2025, attack. According to the FBI, North Korea’s “TraderTraitor” hackers, also known as Lazarus Group, stole about $1.5 billion in virtual assets, mostly about 401,000 ETH. Investigators found that the attackers had compromised a developer machine at Safe{Wallet}, the multisignature wallet provider Bybit used, and injected malicious code into its interface to redirect a routine cold-wallet transfer; Bybit’s own systems were not breached.

Bybit’s response is what kept customers on the platform. It processed more than 350,000 withdrawal requests in the first 12 hours, closed the Ether shortfall within days through loans from partners and purchases, and says no customer lost funds. It launched a bounty program offering 10% of any recovered funds, and in a lawsuit against North Korea filed in a US federal court in June 2026 and made public in August, said it had recovered about $48 million, with more than $30 million frozen.

Bybit now publishes monthly proof of reserves verified by security firm Hacken. Its 40th report, based on a September 23, 2026, snapshot, showed reserves of 104% for Bitcoin, 103% for Ether and 110% for USDT, with all 50 covered tokens at 100% or more and about $19.6 billion in customer assets covered. Users can check that their own balance is included through a Merkle tree.

Privacy & Security Measures

Bybit accounts can be protected with two-factor authentication, passkeys, withdrawal address whitelists and an anti-phishing code that appears in genuine Bybit emails. The exchange monitors its cold, warm and hot wallets around the clock and, according to its security report for the first half of 2026, blocked more than $700 million in potential losses and intercepted over 30,000 suspicious withdrawals. Like all regulated exchanges, Bybit requires identity verification, so it is not an anonymous platform.

Potential Risks

While Bybit offers numerous benefits, users should be aware of potential risks:

• Custody risk: as with any centralized exchange, funds held on Bybit depend on the company’s security and solvency, as the 2025 hack showed.
• Regulatory risk: Bybit has left or restricted several markets, including France in 2024, before returning under its MiCA licence, and Japan in 2025 and 2026, and has paid fines in India and the Netherlands.
• Leverage risk: derivatives with high leverage can wipe out a position within minutes.
• Product risk: savings, staking and new token products can lose value and are not insured.

For long-term holdings, moving coins to a self-custody wallet removes exchange risk; see our crypto wallet reviews.

Bybit Regulation and Licences

Bybit’s licences in October 2026 include:

• European Union: Bybit EU GmbH holds a MiCA licence from Austria’s Financial Market Authority, announced in May 2025, and serves the European Economic Area except Malta through bybit.eu. EEA users of the global site had to move to bybit.eu by July 1, 2026. Bybit Payments GmbH received an Austrian e-money licence in 2026.
• United Arab Emirates: a full Virtual Asset Platform Operator licence from the Securities and Commodities Authority, granted in October 2025, plus a provisional approval from Dubai’s VARA.
• United Kingdom: Bybit relaunched for UK users in December 2025 with spot and P2P trading. Its promotions are approved by FCA-authorised Archax; Bybit itself is not FCA-registered.
• India: Bybit registered with the Financial Intelligence Unit in February 2025, after the FIU fined it INR 9.27 crore in January 2025.
• Other markets: a licence in Kazakhstan’s AIFC (October 2024), a VASP registration in Georgia (November 2024) and a listing by Türkiye’s Capital Markets Board for its local platform.

Bybit is not available in the US, Canada, Singapore, mainland China, Hong Kong, Uzbekistan, sanctioned countries or the Russian-occupied regions of Ukraine. It paused new sign-ups from Japan in October 2025 and has been restricting accounts of Japanese residents during 2026. It left France in 2024 before returning through bybit.eu under its MiCA licence, and the Dutch central bank fined it €2.25 million in October 2024 for operating in the Netherlands without registration.

Is Bybit Available in the US?

No. Bybit does not serve residents of the United States, and its terms list the US among restricted jurisdictions, together with Canada, Singapore, mainland China and Hong Kong. Because identity verification is mandatory, US residents cannot open a verified account, and Bybit’s terms let it close any account whose owner misrepresents their location or residence, for example by using a VPN, and liquidate any open positions. US traders who want a licensed alternative can use Kraken, Coinbase or OKX’s US service; see our best crypto exchanges ranking for how they compare.

How Bybit Exchange Works

Bybit works like other centralized exchanges: you open an account, verify your identity, deposit crypto or fiat money, and trade against other users through the exchange’s order books. Bybit holds the assets in its own wallets and records your balance in its system. You can withdraw crypto to an external wallet at any time, subject to network fees and security checks.

Buying, Selling, and Swapping Cryptocurrencies

Users can buy crypto through the one-click buy page with a bank card, through P2P trading with other users, or by depositing fiat money and trading on the spot market. The Convert tool swaps one coin for another in one step at a quoted rate, which is convenient but usually costs more than placing an order on the spot market.

Setting Up the Bybit Account

1. Sign up on the Bybit website or app with an email address or phone number.
2. Complete identity verification by uploading an ID document and a selfie.
3. Turn on two-factor authentication and set an anti-phishing code.
4. Deposit crypto or buy it with a card or through P2P.
5. Start trading, or move funds into Bybit Earn.

Identity verification has been mandatory for all Bybit services since May 8, 2023, so you cannot trade or deposit without completing KYC; unverified accounts can only close positions, repay loans and withdraw. EEA residents sign up on bybit.eu instead of the global site.

Two-Factor Authentication (2FA)

Bybit supports two-factor authentication through an authenticator app or SMS, as well as passkeys. Using an authenticator app or a passkey is safer than SMS, which can be targeted by SIM-swap attacks. Bybit also lets users lock withdrawals to whitelisted addresses.

Deposits and Withdrawals

Crypto deposits and transfers between Bybit accounts are free. Crypto withdrawals carry a fixed network fee for each coin and chain, shown on the withdrawal screen before you confirm. Fiat deposit and withdrawal fees depend on the currency and payment method. Withdrawals usually go through within minutes but can be held for extra security checks.

Using Bybit App and Website

The Bybit app is available on iOS and Android and offers the same products as the website. On October 20, 2026, the Android app had a rating of 4.6 out of 5 from about 1.4 million reviews and more than 10 million downloads on Google Play, and the iOS app a rating of 4.7 on the US App Store.

Supported Cryptocurrencies

CoinGecko lists 389 coins and 519 spot trading pairs on Bybit, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana, BNB, Dogecoin, Cardano (ADA) and stablecoins such as USDT and USDC, plus 937 derivatives pairs. Eligible users can also trade tokenized US stocks and, since October 2026, more than 1,000 US stocks and ETFs funded with USDC, held through broker Alpaca. Coin availability differs on bybit.eu and in the UK, where the list is shorter.

Interface & Ease of Use

Bybit’s interface is built for traders, with customisable charts, depth views and quick order entry, but its main app also has a simple buy and sell flow for beginners. The large number of products and promotional banners can make the app feel crowded, which the October 2026 redesign aims to address.

User Experience with the Bybit App and Website

Users generally rate Bybit well for speed, stability and the range of products, as shown by its high app-store ratings. Common complaints in reviews concern identity checks, regional restrictions and occasional account holds during security reviews. Performance under stress has been a strength: Bybit kept running during the February 2025 hack and during sharp market sell-offs.

Bybit Fees Review

Bybit’s trading fees are low and in line with other large offshore exchanges. Its base spot fee of 0.10% matches Binance, KuCoin and Bitget and is well below Coinbase, Kraken and Gemini. Holders of Bybit’s MNT token get 25% off spot fees and 10% off futures fees when they pay fees in MNT.

Fee Structure Breakdown

Product or service	Fee
Spot trading	0.10% maker / 0.10% taker
Perpetuals and futures	0.02% maker / 0.055% taker
Options	0.02% maker / 0.03% taker
Bank card purchase, EU-issued cards	2.10%
Bank card purchase, other Visa and Mastercard	3.70%
P2P trading	0%
Crypto deposits	Free

Source: Bybit fee structure, non-VIP rates as of October 2026. Rates can vary by region and fall with higher trading volume.

Comparing Bybit Fees with Competitors

Exchange	Spot maker / taker (base tier)
Bybit	0.10% / 0.10%
OKX	0.08% / 0.10%
Binance	0.10% / 0.10%
Coinbase Advanced	0.40% / 0.60%
Kraken Pro	0.40% / 0.80%

Bybit is one of the cheapest large exchanges for spot trading, and its futures fees of 0.02% maker and 0.055% taker are also among the lowest in the market. Card purchases are expensive everywhere, so buying with a bank transfer or through P2P and then trading on the spot market is usually cheaper.

Customer Reviews and Feedback

Bybit’s app ratings of 4.6 on Google Play and 4.7 on the App Store suggest most users are satisfied with the product. Negative feedback tends to focus on verification delays, restricted features in some countries and support response times during busy periods. The way Bybit handled the 2025 hack, paying out every withdrawal request, improved its standing with many users.

Customer Support

Bybit offers 24/7 live chat support in multiple languages, an online help centre and, since September 2026, the Bybit AI assistant, with human agents still available for account problems. Response times for live chat are usually short, while complex cases such as account reviews can take longer.

Bybit Payment Methods

Bybit users can fund their accounts with:

• Crypto deposits, free on Bybit’s side.
• Bank cards (Visa and Mastercard), at 2.10% for EU cards and 3.70% for other cards.
• P2P trading, with zero fees and many local payment methods.
• Fiat bank transfers in supported currencies, with fees depending on the method.

The Bybit Card, a debit card available in the EEA and other regions, lets users spend crypto with no annual fee and earn cashback.

Comparing Bybit with Alternatives

Bybit ranks sixth in blockchainreporter’s best crypto exchanges ranking, with a score of 6.8 out of 10. That ranking scores every exchange with the same weighted method for security, regulation, liquidity and fees: Bybit scores top marks on fees but loses points for the 2025 hack and its regulatory record. The 4.3 out of 5 rating in this review measures the product itself for users who can access it.

Bybit Exchange Competitors

Bybit’s main competitors are Binance, OKX, Bitget and KuCoin among offshore exchanges, and Coinbase and Kraken among regulated exchanges in the US and Europe. OKX is the closest match: it has similar fees and products but is also licensed in the US.

Binance vs. Bybit

Binance is larger, with about four times Bybit’s spot volume on CoinGecko on October 20, 2026, more coins and a bigger ecosystem around BNB. Fees are almost the same at 0.10% for spot. Bybit, however, holds a MiCA licence and serves EU users through bybit.eu, while Binance stopped accepting new EU users on July 1, 2026. Neither serves the US. Read our Binance review for more.

Kraken vs. Bybit

Kraken is the more regulated and conservative choice: it is licensed in the US and the EU, registered with the FCA in the UK and is the safest pick in our exchange ranking. It is also more expensive, at 0.40% maker and 0.80% taker on Kraken Pro at the lowest tier, against 0.10% on Bybit. Bybit offers more derivatives and higher leverage, while Kraken offers access for US residents.

BitMEX vs. Bybit

BitMEX, founded in 2014, was the leading crypto derivatives exchange before Bybit and Binance overtook it. It focuses mainly on perpetual futures and has far lower volume than Bybit today. In 2025 a US court fined BitMEX $100 million for Bank Secrecy Act violations, and its founders and the company were later pardoned. Bybit offers a much wider range of products, including spot trading, savings and a card.

Bybit Pros and Cons

Pros

• Low fees: 0.10% on spot and 0.02% / 0.055% on perpetual futures.
• Deep derivatives liquidity and a wide product range in one account.
• MiCA licence in the EU and a full UAE licence.
• Monthly proof of reserves verified by Hacken, with all covered tokens at 100% or more.
• Kept withdrawals open and covered all customer losses after the 2025 hack.
• 24/7 live chat support and highly rated mobile apps.

Cons

• Not available in the US, Canada, Singapore or Hong Kong.
• Suffered the largest crypto hack on record in February 2025.
• Fines in India and the Netherlands, an exit from Japan, and a 2024 exit from France before its return under MiCA.
• Fewer spot coins than Binance or KuCoin.
• Card purchases cost 2.10% to 3.70%.
• Not FCA-registered in the UK, where it offers spot and P2P only.

Who Is This Exchange For?

Bybit suits active traders outside the US who want low fees, deep derivatives markets, copy trading and bots, and EU users who want a MiCA-licensed platform with low fees. It is less suitable for US residents, who cannot use it, and for beginners who only want to buy and hold Bitcoin, who may prefer a simpler, more regulated platform such as Coinbase or Kraken. See our Coinbase review and OKX review for alternatives.

Conclusion: Is Bybit Right for You?

Bybit offers low fees, deep liquidity and one of the widest product ranges in crypto, from spot and derivatives to stocks, savings and a card. Its handling of the February 2025 hack showed that it could absorb a $1.5 billion loss without freezing withdrawals, and its monthly proof of reserves shows full backing of customer assets. Its weaknesses are its absence from the US, its regulatory history and the risk that comes with any centralized exchange.

Overall, our Bybit review rates it 4.3 out of 5: a strong choice for active traders and derivatives users outside the US, and a credible MiCA-licensed option in Europe.

This article is for informational purposes only and does not constitute financial advice. Crypto trading, especially with leverage, carries a high risk of loss. Fees, products and availability can change; always check Bybit’s current terms and your local rules before opening an account.

Frequently Asked Questions

What coins are supported by Bybit?
Bybit supports about 390 coins and 519 spot trading pairs, according to CoinGecko, including Bitcoin, Ether, XRP, Solana, BNB, Dogecoin, USDT and USDC. It also lists 937 derivatives pairs, tokenized US stocks and, for eligible users, more than 1,000 US stocks and ETFs. The coins available on bybit.eu for European users and on Bybit’s UK service are fewer than on the global platform.

Is Bybit safe after the 2025 hack?
Bybit lost about $1.5 billion in Ether in February 2025 after North Korean hackers compromised its wallet provider, Safe{Wallet}. It replaced the missing funds within days, kept withdrawals open and says no customer lost money. Its monthly proof of reserves, verified by Hacken, showed 104% Bitcoin backing in September 2026. Like any exchange, it still carries custody risk.

What are Bybit’s fees?
Bybit charges 0.10% for makers and takers on spot trades and 0.02% for makers and 0.055% for takers on perpetual futures at the base tier. Options cost 0.02% and 0.03%. Paying fees in MNT gives 25% off spot and 10% off futures fees. Card purchases cost 2.10% for EU cards and 3.70% for other cards, and P2P trading is free.

Is Bybit available in the US?
No. Bybit does not serve residents of the United States, and it also restricts Canada, Singapore, mainland China, Hong Kong, Uzbekistan, sanctioned countries and the occupied regions of Ukraine. US residents who want a similar exchange can use licensed platforms such as Kraken, Coinbase or OKX’s US service, which offer spot trading but fewer derivatives products.

Is Bybit available in the EU and the UK?
Yes. Bybit EU GmbH holds a MiCA licence from Austria’s Financial Market Authority and serves the European Economic Area, except Malta, through bybit.eu. EEA users of the global site had to move there by July 1, 2026. In the UK, Bybit relaunched in December 2025 with spot and P2P trading, with promotions approved by FCA-authorised Archax.

What happens if Bybit goes out of business?
Customer crypto on Bybit is not covered by deposit insurance, so in a bankruptcy users would become creditors and could lose some or all of their funds. Bybit’s monthly proof of reserves shows that it held at least 100% of covered customer assets at each snapshot, which lowers that risk. Keeping long-term holdings in a self-custody wallet removes it.

What are the disadvantages of Bybit?
Bybit is not available in the US or Canada, suffered the largest crypto hack on record in 2025 and has paid regulatory fines in India and the Netherlands. It lists fewer spot coins than Binance or KuCoin, card purchases are expensive at 2.10% to 3.70%, and its UK service offers spot and P2P trading only, without derivatives.

Is Bybit legit?
Yes. Bybit is one of the largest crypto exchanges, with more than 80 million registered users, a MiCA licence in the EU through Austria’s Financial Market Authority and a full licence from the UAE’s Securities and Commodities Authority. It publishes monthly proof of reserves verified by Hacken. It has paid fines in India and the Netherlands and suffered a $1.5 billion hack in 2025, which it covered in full.

Does Bybit require KYC?
Yes. Since May 8, 2023, Bybit has required at least basic identity verification for all of its products, so you need to upload an ID document and complete a selfie check before you can trade or deposit. Unverified accounts can only close positions, repay loans and withdraw. European users verify on bybit.eu under the EU’s MiCA rules, and residents of restricted countries such as the US cannot pass verification.

Where is Bybit located?
Bybit is headquartered in Dubai, where it moved from Singapore in 2022, and is building a larger regional operations centre in Abu Dhabi, where its UAE-licensed company is incorporated. Its European business, Bybit EU GmbH, is based in Vienna and licensed in Austria under MiCA. Bybit also holds licences or registrations in markets such as Kazakhstan and Georgia.

Why can you trust our review?
This review is based on Bybit’s official fee and help pages, regulator announcements, the FBI’s statement on the 2025 hack, Bybit’s proof-of-reserves reports and CoinGecko and CoinMarketCap data, all checked in October 2026. Blockchainreporter has no affiliate or referral agreement with Bybit, and the exchange did not pay for or review this article before publication.