Bybit security features: what it protects and what it does not

Bybit holds customer funds and keys, so you rely on the company for what you keep on the platform. Each protection below has limits.

What account protections does Bybit offer?

Bybit says it offers multi-factor authentication, an anti-phishing code, and device management. Check the domain before you type your login, because these controls only help on the real site.

• Multi-factor authentication adds a second code at login, so a stolen password alone is not enough.
• An anti-phishing code is a phrase you choose that appears in real Bybit emails, so a fake is easier to spot.
• Device management lists logged-in devices and lets you remove ones you do not recognize.

How does Bybit secure customer crypto?

Bybit says it keeps most customer crypto in cold wallets, which stay offline. It publishes proof-of-reserves reports that it says show reserves backing user balances. Proof-of-reserves is not a full audit and does not guarantee every withdrawal.

What withdrawal safeguards does Bybit use?

Bybit says it provides withdrawal safeguards you set up yourself. An address whitelist limits withdrawals to addresses you approved. A fund password is a separate password for withdrawals. Risk alerts flag unusual activity.

Does Bybit's insurance fund cover my losses?

Bybit says its insurance fund helps cover exchange losses from liquidations and reduce auto-deleveraging. It does not reimburse user trading losses, and it does not cover spot wallet balances. It is not deposit insurance.

Is Bybit regulated in the United States?

Bybit is not a US-regulated exchange. Its terms restrict US users, so access limits apply and you have fewer legal protections. Crypto on Bybit is not FDIC or SIPC insured, unlike US bank deposits.

Written byVahe HakobyanVahe Hakobyan is the editor-in-chief of World-Crypt. He covers bitcoin, markets and regulation, and leads the newsroom that fact-checks every story before it goes live.