Swappas

A reference table of 31 crypto swap venues, scored on six axes. No affiliate links, no paid placement.

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Bybit

caution KYC required Custodial exchange

3.5/10 total

Large derivatives-first exchange. Suffered the single largest exchange breach in history in February 2025, roughly $1.4B attributed to the Lazarus Group, though it covered user losses. Verification is now mandatory.

Scores

No-KYC 0
Fees 8
Privacy 1
Custody 3
Record 4
Coverage 9

Weights are published in the method and applied identically to every entry.

For

  • Deep derivatives liquidity and competitive spot fees
  • Covered user losses in full after the 2025 breach
  • Broad asset coverage

Against

  • Largest exchange hack on record, ~$1.4B in February 2025
  • Mandatory KYC across the platform
  • Custodial with limited regulatory recourse

Agent access 4/10

Full-featured API behind a verified account and issued keys.

Reported separately and not counted in the total. It measures what an autonomous agent can do unattended, not whether the service is safe to use.

Fees

0.10% maker / 0.10% taker spot

Competitive across spot and derivatives.

Specification

Type
Custodial exchange
KYC policy
KYC required
Custody model
custodial
Account required
yes
Assets
700+
Chains
50+
Operating since
2018
Jurisdiction
Dubai
Onion service
no
Works without JS
no
Open source
no
Facts checked
2026-07-31

Links

https://bybit.com

Plain links, no referral parameters. Verify the domain yourself; phishing clones of every service in this table exist.