Bybit has grown fast across African markets, and for good reason — it’s clean, fast, and its P2P marketplace has improved significantly over the past two years. But does it actually deliver for Ethiopian users who need ETB-based trading?
We tested it. Here’s the honest answer.
Crypto is in a legal grey zone in Ethiopia. The National Bank of Ethiopia (NBE) has not banned it, but has not issued formal regulation either. Millions of Ethiopians access it via P2P. Some ISPs block exchange websites — a VPN resolves this. Use reputable platforms and monitor NBE announcements for any changes.
Our rating: 4.2/5
Bybit Overview — The Basics
Bybit was founded in 2018 and has become one of the top 5 global crypto exchanges by derivatives volume. It serves over 30 million users worldwide. For Ethiopian users, it’s relevant primarily because of its growing P2P marketplace, which now includes ETB pairs.
Core features:
- P2P trading with ETB support
- Spot and derivatives trading
- Earn products (Bybit Savings, Launchpool)
- Clean mobile and desktop interface
Registration — Getting Started in Ethiopia
- Sign up on Bybit with your email address
- Verify your email
- Enable 2FA immediately — Google Authenticator is recommended
- Complete KYC Level 1: Ethiopian national ID or passport
- Verification typically takes 15 minutes to a few hours
ETB P2P Trading — What to Expect
Bybit’s P2P section works similarly to Bitget: you connect with sellers who hold USDT and want ETB in exchange. The escrow system protects both parties — funds are locked until the ETB payment is confirmed.
- Go to Buy Crypto → P2P Trading
- Select USDT, set currency to ETB
- Filter by payment method — look for Telebirr or CBE Bank Transfer
- Choose a seller with high completion rate (95%+ recommended)
- Place the order, transfer ETB to the seller, confirm payment in app
- Receive USDT once the seller releases from escrow
Honest comparison with Bitget: Bybit typically has slightly fewer active ETB sellers at any given time. During off-peak hours, you may find limited options. For larger amounts (500+ USDT), Bitget tends to have better liquidity. For smaller trades, Bybit is perfectly adequate.
Fees — Full Breakdown
| Fee Type | Amount |
|---|---|
| P2P trading fee | 0% (free) |
| Spot trading (maker) | 0.1% |
| Spot trading (taker) | 0.1% |
| USDT withdrawal (TRC20) | ~1 USDT |
| Deposit | Free (crypto) |
Verdict — Should Ethiopians Use Bybit?
Bybit is a trustworthy, well-built platform and a legitimate option for Ethiopian crypto users. It’s our #2 recommendation after Bitget — not because it’s inferior, but because Bitget’s ETB P2P liquidity is currently higher.
Best for:
- Users who want a clean, modern interface
- Those interested in derivatives alongside P2P
- Anyone who finds Bitget’s interface overwhelming
Bottom line: Bybit works well for Ethiopia. Open an account on both platforms — it costs nothing, and having two options gives you more flexibility when one P2P market is quiet.
Sign up on Bybit and test the P2P marketplace with a small amount first.