Bybit has become one of the most popular crypto exchanges among Latin American traders. But is it actually good for LATAM users — or just good globally? Here's an honest assessment from a LATAM perspective.
What Bybit Does Well for Latin America
Spanish Language Support
Bybit's app and website are fully available in Spanish. Customer support is available in Spanish via live chat. For most LATAM users, language barrier is zero.
P2P in Local Currencies
Bybit supports P2P trading in ARS (Argentina), COP (Colombia), VES (Venezuela), MXN (Mexico), BRL (Brazil), PEN (Peru), and CLP (Chile). The P2P section has dedicated LATAM payment methods including Nequi, Bancolombia, Mercado Pago, PIX, Yape, and others.
Copy Trading
Bybit's copy trading lets you automatically replicate the trades of successful traders. This is popular among LATAM users who want exposure to crypto without active management. Performance fees go to the trader you copy; platform fee is 10% of profits generated.
Futures and Derivatives
For advanced traders, Bybit's derivatives platform is among the best globally. 125x leverage on BTC, comprehensive order types, and a deep liquidity pool.
Where Bybit Falls Short for LATAM
P2P Liquidity vs Bitget
For some LATAM currencies (particularly ARS and COP), Bitget has deeper P2P liquidity. If you're converting large amounts of local currency, you may get better prices on Bitget.
Payment Method Coverage
Bitget supports more LATAM-specific payment methods. Bybit is catching up but isn't quite at parity.
Fees
- Spot trading: 0.1% maker/taker
- Futures: 0.01-0.06% depending on tier
- P2P: Free
- Withdrawals: Network-dependent
Fees are competitive with global standards. For most LATAM users doing P2P + spot, costs are negligible.
Security
Bybit has never been hacked despite being a major target (it's among the top 5 exchanges globally by futures volume). They use cold storage for the majority of funds, mandatory 2FA, and regular security audits.
Verdict
Recommended for: Active traders, copy trading enthusiasts, anyone who wants futures access alongside spot trading.
Not ideal if: You primarily need the deepest P2P liquidity for your local currency (Bitget may be better in that case).
Bottom line: Bybit is a legitimate, secure, well-developed platform that serves LATAM users well. Use it alongside Bitget rather than exclusively.
For a detailed head-to-head comparison of Bitget vs Bybit specifically for Latin American users, with fee tables and P2P liquidity data, see the Bitget vs Bybit LATAM comparison.
