Is Bybit safe? How Bybit became one of the safest crypto exchanges in the world!

Updated March 21, 2025

Is Bybit safe and legit? Read why here!

Is Bybit safe? Well, Bybit is one of the safest crypto exchanges you can use! Bybit is as legit as it gets. There is no reason to be skeptical, given that there are about 19 million visitors a month and 10/10 in security and trust score by Coingecko.

Bybit is headquartered in Dubai, United Arab Emirates, and registered as Bybit Fintech FZE in the British Virgin Islands. Bybit is available in over 160 countries, including India.

Bybit is banned in the United States and Canada.

Cer.live gives Bybit a score of 88 out of 100. The penetration test and bug bounty both score 100. User security scores 92, and server security scores 90. As an example, Coinbase and Binance gets an overall score of 90.

Source: https://cer.live/exchange/bybit_spot

Proof of reserves

Bybit is transparent with its proof of reserves, and here, you can view the entire Bybit Reserve Ratio. Every 3-4 days, Hacken will update their POR report for Bybit. You can find the latest version from Hacken here.

Regulatory Licenses

Bybit has secured licenses in several jurisdictions:
Dubai: Licensed by the Virtual Assets Regulatory Authority (VARA).
Cyprus: Holds a regulatory license for operations.
MiCA License (Pending): Bybit is pursuing a Markets in Crypto-Assets (MiCA) license to expand across the European Economic Area (EEA).

Who owns Bybit?

Bybit was founded in 2018 by Ben Zhou, who serves as its CEO and founder. Other co-founders and investors from 2020 are also involved, but the ownership percentages are not publicly available.

Bybit login

Visit https://partner.bybit.com/b/web3 to log in and create a new account. Right now, you get some great welcome bonuses if you sign up with the link or the Bybit Referral Code “WEB3”.

Bybit Referral code is WEB3

With the Bybit referral code WEB3, users can get the best benefits and bonuses up to 30.500$! Using a referral code when you signup is very important, without a referral code no bonuses will be applied to you account.