CINXE.COM
Bybit Users Statistics 2024
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classs="Written-by-name-popup"> <p class="Written-list-name"> Written by <a>Ayanika Das</a> </p> <section class="component-wrapper"> <div class="writer-wrapper"> <div class="writer"> <div class="name-wrapper"> <p class="wr-name-p">Written by:</p> <div class="inner-name-wrapper"> <p class="wr-pfont">Ayanika Das</p> <p></p> </div> </div> <a href="https://socialcapitalmarkets.net/author/ayanika-das007/" class="icon-wrapper"><svg width="12" height="10" viewBox="0 0 12 10" fill="none" xmlns="http://www.w3.org/2000/svg"> <path fill-rule="evenodd" clip-rule="evenodd" d="M6.21967 0.209209C6.51256 -0.0697365 6.98744 -0.0697365 7.28033 0.209209L11.7803 4.49492C12.0732 4.77387 12.0732 5.22613 11.7803 5.50508L7.28033 9.79079C6.98744 10.0697 6.51256 10.0697 6.21967 9.79079C5.92678 9.51184 5.92678 9.05958 6.21967 8.78064L9.43934 5.71429L0.750001 5.71429C0.335787 5.71429 0 5.39449 0 5C0 4.60551 0.335787 4.28571 0.750001 4.28571H9.43934L6.21967 1.21936C5.92678 0.940416 5.92678 0.488155 6.21967 0.209209Z" fill="white" /> </svg></a> </div> <div class="writer-content"> <p>Ayanika is an experienced content writer with a background in Hotel Management and a master's in hospitality administration from IHM Calcutta. With her expertise in content creation and copywriting, Ayanika has collaborated with numerous companies across various sectors. She's currently focusing on the crypto and investment sectors and crafting in-depth pieces about different aspects of the crypto space.</p> <div class="social-media-icon"> <a href="https://www.linkedin.com/in/ayanika-das-852976198" target="_blank"><img width="18" height="17" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2018%2017'%3E%3C/svg%3E" alt="linkedin" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/linkedin.png"><noscript><img width="18" height="17" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/linkedin.png" alt="linkedin"></noscript></a> </div> </div> </div> </section> </span> </div> <div class="Written-by-name"> <p class="expert-reviewed-tag"><a> <img width="60" height="60" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/Frame-20.svg"> Expert reviewed</a> </p> <section class="component-wrapper"> <div class="writer-wrapper"> <div class="writer-content no-spacing-wrapper pt-0 border-0"> <p><p class="expert-rev">Expert Reviewed</p> <p>This article has been reviewed by crypto market experts at SCM to ensure all the content, sources, and claims adhere to the highest standards of accuracy and reliability.</p> </p> </div> </div> </section> </div> </div> <div class="Written-by-name"> <p class="Last-Updated-tag"><img width="14" height="14" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/clock.svg">Last Updated on November 23, 2024 </p> </div> </div> </div> </div> <div class="scm-detiles-page commen_page"> <div class="container"> <div class="row"> <div class="col scm-detials-col"> <div id="primary" class="content-area"> <div class="content-container site-container"> <main id="main" class="site-main" role="main"> <div class="content-wrap"> <article id="post-3820" class="entry content-bg single-entry post-3820 page type-page status-publish has-post-thumbnail hentry"> <div class="entry-content-wrap"> <div class="entry-content single-content"> <p style="text-align: justify;">Bybit, the world鈥檚 second-largest crypto exchange, was founded by Ben Zhou in 2018. Initially a Forex broker, Zhou merged DeFi and TradFi to create Bybit, focusing on cryptocurrency derivatives, especially perpetual futures contracts.</p> <p style="text-align: justify;">The platform, known for its user-friendly interface, offers leverage up to 100x and supports trading of over 650 cryptocurrencies.</p> <p style="text-align: justify;">Unlike other exchanges, Bybit doesn鈥檛 have a native token but partners with BitDAO, using its token, BIT. Originally based in Singapore, Bybit is now headquartered in Dubai, operating globally with support in 13 languages.</p> <p style="text-align: justify;">Bybit鈥檚 rise to the second position in trading volume by mid-2024 showcases its ongoing success. The data below highlights Bybit鈥檚 growth and future potential.</p> <p> </p> <h2 class="wp-block-heading"><span class="ez-toc-section" id="Quick_Summary_Of_Bybit_Statistics"></span>Quick Summary Of Bybit Statistics<span class="ez-toc-section-end"></span></h2> <p> </p> <ol class="wp-block-list"> <li>Bybit’s trading volume in Q1 of 2024 reached $189.0 billion.</li> <li>Bybit rose to the second position on the most extensive cryptocurrency exchange list.</li> <li>In June 2024, Bybit had the third-highest 24-hour trading volume at $4.73 billion.</li> <li>The market share of Bybit increased from 8% to 16% in 2024.</li> <li>Bybite’s estimated annual revenue is<a href="https://growjo.com/company/Bybit_Exchange" target="_blank" rel="noopener"> $269.5 million. </a></li> </ol> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Bybit_Trading_Volume_Statistics"></span>Bybit Trading Volume Statistics<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">Annual trading volume is the sum of the spot and derivatives trading volume.</p> <p> </p> <p style="text-align: justify;">In 2020, Bybit recorded a trading volume of <a href="https://blog.bybit.com/en/post/bybit-s-year-in-review-2020-blt0d380369e10bce43/" target="_blank" rel="noopener">$528.7 billion</a>. The trading volume on Bybit skyrocketed just the following year. It went up by <strong>221.5% </strong>and reached <a href="https://blog.bybit.com/en/post/bybit-year-3-review-bltb5ccf7cbf16bdfce/" target="_blank" rel="noopener">$1.7 trillion</a> in 2021.</p> <p> </p> <p style="text-align: justify;">Next comes 2022, but that year’s total trading volume data is unavailable.</p> <p style="text-align: justify;">In 2023, though, the exchange pulled in a trading volume of about <a href="https://blog.bybit.com/post/inside-bybit-bybit-s-bi-annual-transparency-report-bltd4926c2a724afadb/" target="_blank" rel="noopener">$2.491 trillion</a>. <strong>When compared against the trading volume of 2021, you’d see </strong>t<strong>hat the trading volume of 2023 displays a surge of about 46.53%</strong></p> <p> </p> <p style="text-align: justify;">This year, things also seem to look better for Bybit. Within just the first quarter of 2024, Bybit shows a total trading volume figure of<a href="https://www.coingecko.com/en/exchanges/bybit_spot" target="_blank" rel="noopener"> $189.0 billion</a>.</p> <p style="text-align: justify;">The remainder of the year still lies ahead, and given Bybit’s rapid growth, the exchange is expected to cross its 2023 record figure soon.</p> <p> </p> <figure class="wp-block-table aligncenter"> <table> <tbody> <tr> <td>Year</td> <td>Total Trading Volume</td> </tr> <tr> <td>2020</td> <td>$528.7 Billion</td> </tr> <tr> <td>2021</td> <td>$1.7 Trillion</td> </tr> <tr> <td>2022</td> <td>Data not found</td> </tr> <tr> <td>2023</td> <td>$2.491 Trillion</td> </tr> <tr> <td>Q1 2024</td> <td>$189.0 billion</td> </tr> </tbody> </table> </figure> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Bybit_User_Statistics"></span>Bybit User Statistics<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">As per the reports in 2022, Bybit reported <a href="https://blog.bybit.com/en/post/bybit-s-user-base-booms-exceeds-15-million-with-a-50-increase-in-mere-months-blt0262c9843c07dfe3/" target="_blank" rel="noopener">10 million registered users</a>, which experienced a 100% growth in 2023.</p> <p> </p> <p style="text-align: justify;">From 10 million, the user count shot up to <a href="https://www.financemagnates.com/cryptocurrency/bybit-crosses-30-million-user-threshold-amid-sixfold-volume-jump/" target="_blank" rel="noopener">20 million in 2023.</a> According to the last recorded data in March 2024, Bybit had a user base of <a href="https://www.bybit.com/en/promo/global/aboutus/" target="_blank" rel="noopener">30 million.</a> Within a few months, the exchange’s user base <strong>increased by 50%.</strong></p> <p> </p> <p style="text-align: justify;">Every year, Bybit welcomes more and more new users, and as per the niche experts, the platform’s user base will exceed the 40 million mark by the end of this year.</p> <p> </p> <figure class="wp-block-table aligncenter"> <table> <tbody> <tr> <td>Year</td> <td>Bybit User Count</td> </tr> <tr> <td>2022</td> <td>10 Million</td> </tr> <tr> <td>2023</td> <td>20 Million</td> </tr> <tr> <td>June 2024</td> <td>30 Million</td> </tr> </tbody> </table> </figure> <p> </p> <figure class="wp-block-image aligncenter size-full is-resized"><img fetchpriority="high" decoding="async" width="1024" height="768" class="wp-image-3839" style="width: 535px; height: auto;" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20768'%3E%3C/svg%3E" alt="" data-lazy-srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2-768x576.png 768w" data-lazy-sizes="(max-width: 1024px) 100vw, 1024px" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2.png" /><noscript><img fetchpriority="high" decoding="async" width="1024" height="768" class="wp-image-3839" style="width: 535px; height: auto;" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2.png" alt="" srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-2-768x576.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></noscript></figure> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Bybit_24-Hour_Trading_Volume"></span>Bybit 24-Hour Trading Volume<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">As of June 2024, Bybit is the third largest cryptocurrency exchange in terms of 24-hour trading volume.</p> <p> </p> <p style="text-align: justify;">In June 2024, Bybit reported a 24-hour trading volume of about <a href="https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/" target="_blank" rel="noopener">4.73 billion </a>just after Binance.</p> <p> </p> <figure class="wp-block-image aligncenter size-full is-resized"><img decoding="async" width="904" height="651" class="wp-image-3833" style="width: 669px; height: auto;" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20904%20651'%3E%3C/svg%3E" alt="" data-lazy-srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48-.png 904w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48--300x216.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48--768x553.png 768w" data-lazy-sizes="(max-width: 904px) 100vw, 904px" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48-.png" /><noscript><img decoding="async" width="904" height="651" class="wp-image-3833" style="width: 669px; height: auto;" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48-.png" alt="" srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48-.png 904w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48--300x216.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/2024-06-27-11_17_48--768x553.png 768w" sizes="(max-width: 904px) 100vw, 904px" /></noscript></figure> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Market_Share_Of_Bybit"></span>Market Share Of Bybit<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">Bybit was the third largest exchange in terms of trading volume until October 2023.</p> <p> </p> <p style="text-align: justify;">But from October to June of this year, i.e., 2024, Bybit expanded at an unprecedented rate. The platform’s market share, calculated based on trading volume, increased from<a href="https://marketing.kaiko.com/bitcoins-dwindling-volatility-signals-maturity?ecid=AOKeC1aCLLPrJ1QXn4NAOdVj1uJcqdEubbJsYtR80SR9UTIDIRaFmA-qc1oafm8PkKmij8m6vldk&utm_campaign=Research%20newsletter&utm_source=hs_email&utm_medium=email&utm_content=90062290" target="_blank" rel="noopener"> 8% to 16%</a>.</p> <p> </p> <p style="text-align: justify;">Now, Bybit is the <a href="https://cryptonews.com/news/bybit-surpasses-coinbase-as-worlds-second-largest-crypto-exchange.htm" target="_blank" rel="noopener">2nd largest crypto exchange</a> in the world, coming just after Binance.</p> <p> </p> <figure class="wp-block-image aligncenter size-full is-resized"><img decoding="async" width="1024" height="768" class="wp-image-3838" style="width: 535px; height: auto;" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20768'%3E%3C/svg%3E" alt="" data-lazy-srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3-768x576.png 768w" data-lazy-sizes="(max-width: 1024px) 100vw, 1024px" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3.png" /><noscript><img decoding="async" width="1024" height="768" class="wp-image-3838" style="width: 535px; height: auto;" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3.png" alt="" srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-1-3-768x576.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></noscript></figure> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Revenue_Earned_By_Bybit"></span>Revenue Earned By Bybit<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">The exchange has not released the exact revenue figures.</p> <p> </p> <p style="text-align: justify;">The niche experts estimate that Bybit’s annual revenue would be about <a href="https://growjo.com/company/Bybit_Exchange" target="_blank" rel="noopener">$269.5 million based on the market condition and trade volumes.</a></p> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Bybit_Investment_New_Partnerships"></span>Bybit Investment & New Partnerships<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">More or less, all the large crypto exchanges invest in various blockchain and web3 projects.</p> <p> </p> <p style="text-align: justify;">Similarly, Bybit has invested in <a href="https://pitchbook.com/profiles/company/234748-45#investors" target="_blank" rel="noopener">22 such</a> startup projects till 2024.</p> <p> </p> <p style="text-align: justify;">Also, Bybit has ventured into new partnerships with giants like Franck Muller and Dubai Multi Commodities Centre.</p> <p> </p> <p style="text-align: justify;">With Franck Muller, Bybit partnered to launch the NFT process and a co-branded card, which users could use to make payments and enjoy exclusive discounts on the Franck Muller website.</p> <p style="text-align: justify;">Also, with this partnership, Franck Muller takes a step toward cementing the utilization of Bybit’s Web3 wallet for making purchases on the website.</p> <p> </p> <p style="text-align: justify;">Dubai Multi Commodities Centre is a free trade zone and business ecosystem in UAE. By partnering with this commodities exchange, Bybite has become an official player in the UAE’s business ecosystem. It has sponsored almost 15 new Web3 companies by distributing about<a href="https://blog.bybit.com/post/inside-bybit-bybit-s-bi-annual-transparency-report-bltd4926c2a724afadb/" target="_blank" rel="noopener"> 500,000 AED.</a></p> <p> </p> <p style="text-align: justify;">Moreover, Bybit partnered with Mastercard in 2023 to launch the <a href="https://www.bybit.com/fiat/cards#:~:text=How%20It%20Works,companion%20for%20your%20crypto%20journey." target="_blank" rel="noopener">Bybit crypto debit card.</a> This card enables users to seamlessly convert cryptocurrency into fiat currency for purchases or cash withdrawals.</p> <p> </p> <p style="text-align: justify;">Apart from these partnerships and investments, Bybit is all set to enlist 15 more new currencies. Here’s a <a href="https://cryptonews.com/cryptocurrency/new-bybit-listings/" target="_blank" rel="noopener">list of 15 new coins</a> enlisted on Bybit in 2024.</p> <p> </p> <ol class="wp-block-list"> <li>Pepe Unchained</li> <li>Wiener AI</li> <li>PlayDoge</li> <li>Base Dawgz</li> <li>Mega Dice Token</li> <li>99Bitcoins Token</li> <li>e Tuk Tuk</li> <li>KAI</li> <li>Doge2014</li> <li>Shiba Shootout</li> <li>SpacePay</li> <li>Fight Night</li> <li>Memereum</li> <li>Pepe 2.0</li> <li>EGO</li> </ol> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="FAQs"></span>FAQs<span class="ez-toc-section-end"></span></h3> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Q1_What_is_the_trading_fee_on_Bybit"></span>Q1. What is the trading fee on Bybit?<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">Bybit works on the maker-and-taker fee model. For example, in the case of non-VIP, the spot trading fee is split into a<a href="https://www.bybit.com/en/announcement-info/" target="_blank" rel="noopener"> 0.1000% maker fee and a 0.1000% taker fee</a>. This split percentage varies in the case of VIPs. There are VIP1, VIP2, and so on; the fee structure changes for each VIP.</p> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Q2_Is_Bybit_safe"></span>Q2. Is Bybit safe?<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">Bybit has been around since 2018 and is considered a safe and secure platform for trading crypto.</p> <p style="text-align: justify;">It has various security measures like 2FA (Two-factor authentication), encrypted data transmission, advanced multi-signature combinations including Threshold Signatur Schemes, etc.</p> <p> </p> <p style="text-align: justify;">Plus, Bybit has a <a href="https://www.bybit.com/app/user/reserve-ratio" target="_blank" rel="noopener">Proof of Reserve system</a> and stores 100% of its client’s funds offline in cold wallets. <a href="https://www.linkedin.com/pulse/bybit-good-exchange-it-deve-hunyc#:~:text=One%20of%20the%20most%20critical,of%20hacking%20or%20unauthorized%20access." target="_blank" rel="noopener">Cold wallets </a>are offline storage where cryptocurrencies are stored away from the internet to protect from the risk of hacking.</p> <p> </p> <p style="text-align: justify;">Bybit has deployed many security measures, but the platform has yet to introduce SAFU funds.</p> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Q3_What_is_the_most_traded_currency_on_Bybit"></span>Q3. What is the most traded currency on Bybit?<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">As per the statistics, the most traded currency on Bybit is BTC/USDT, with a 24-hour trading volume of about<a href="https://www.coingecko.com/en/exchanges/bybit_spot" target="_blank" rel="noopener"> $2.01 billion.</a></p> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Q4_Does_Bybit_have_a_mobile_app"></span>Q4. Does Bybit have a mobile app?<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">Yes, Bybit is available for mobile users as well. It has a Bybit app for Android users. Unfortunately, the platform has yet to launch an app that can be run on iOS.</p> <p> </p> <h3 class="wp-block-heading"><span class="ez-toc-section" id="Q5_Bybit_is_available_in_how_many_countries"></span>Q5. Bybit is available in how many countries?<span class="ez-toc-section-end"></span></h3> <p> </p> <p style="text-align: justify;">Bybit is available in over <a href="https://www.bybit.com/en/promo/global/aboutus/" target="_blank" rel="noopener">230 countries</a>. 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class="author_portio_img"> <div> <img alt='' src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20150%20150'%3E%3C/svg%3E" data-lazy-srcset='https://socialcapitalmarkets.net/wp-content/uploads/2024/07/ayanika-das_avatar-300x300.jpg 2x' class='avatar avatar-150 photo' height='150' width='150' decoding='async' data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/07/ayanika-das_avatar-150x150.jpg"/><noscript><img alt='' src='https://socialcapitalmarkets.net/wp-content/uploads/2024/07/ayanika-das_avatar-150x150.jpg' srcset='https://socialcapitalmarkets.net/wp-content/uploads/2024/07/ayanika-das_avatar-300x300.jpg 2x' class='avatar avatar-150 photo' height='150' width='150' decoding='async'/></noscript> </div> <div> <h4><a href="https://socialcapitalmarkets.net/author/ayanika-das007/">Ayanika Das</a></h4> </div> </div> <div class="author_portio_social"> <div> </div> <div> <a href="https://www.linkedin.com/in/ayanika-das-852976198" 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