Flybit Crypto Exchange Review: Is It Still Safe or Functional in 2025?

When you hear "Flybit crypto exchange," you might think of a solid Asian-based platform with clean design and low fees. But here’s the truth: Flybit is still online - but barely. If you’re thinking of using it in 2025, you need to know what’s really going on behind the scenes.

What Flybit Actually Offers

Flybit started in 2017 as a South Korean crypto exchange focused on the Asian market. It supports trading in Bitcoin, Ethereum, and a handful of other major coins. Unlike bigger exchanges like Binance or Kraken, Flybit doesn’t let you deposit U.S. dollars, euros, or any fiat currency. You can’t use a credit card, bank transfer, or PayPal to buy crypto here. You have to already own cryptocurrency - and move it over from another exchange first.

That’s a big problem for beginners. If you’re new to crypto and want to start with $50 in USD, Flybit won’t help you. You’ll need to use a different platform like Coinbase or Binance to convert your cash into crypto, then send it to Flybit. That’s two steps, two fees, and two chances for something to go wrong.

Its trading fee is flat at 0.1% for both makers and takers. That’s not bad - it’s the same as what some big exchanges charge for low-volume traders. But here’s the catch: you’re paying that fee to trade on a platform with almost no buyers or sellers.

The Trading Volume Crash

In mid-2021, Flybit was reporting around $3.8 million in daily trading volume. That’s tiny compared to Binance’s $30 billion, but it was enough to keep things moving. By December 2021, that number dropped to $14,595. That’s a 99.6% collapse in under six months.

Five years later, in 2025, things haven’t improved. There’s no official update from Flybit. No press releases. No new features. No marketing. Just silence. The platform still lets you log in. You can still see your balances. But if you try to sell your Bitcoin? Good luck.

Users on Reddit and crypto forums report long delays - sometimes weeks - before withdrawals go through. Some say they’ve successfully pulled out funds after multiple support tickets. Others say their money is stuck. The phrase "if you’re lucky" keeps popping up. That’s not a sign of a healthy exchange. That’s a warning sign.

Platform Access and Tools

Flybit claims to offer web, desktop, and mobile apps. It supports Windows, Mac, Linux, Android, and even Chromebooks. That sounds good - until you realize most of these apps haven’t been updated in years. The Android app still shows the 2021 interface. The iOS app? It’s either gone or broken. No one seems to know for sure.

It does offer API access for traders who want to automate strategies. But again - what’s the point if there’s no liquidity? You can program the perfect arbitrage bot, but if no one’s buying or selling, your bot just sits there spinning wheels.

The exchange integrates with CoinMarketCap, CoinGecko, and a few other data tools. That’s useful for checking prices, but it doesn’t fix the core issue: no one’s trading.

Customer Support and Security

Flybit says it has 24/7 live support and offers training webinars. But in 2025, those claims are unverified. Users report slow responses, generic replies, and no resolution to withdrawal issues. One person spent 37 days trying to get $800 out. They finally got it - after emailing the same person six times.

Security-wise, Flybit says it follows AML/KYC rules and hired ex-bank professionals to manage compliance. That sounds reassuring - until you realize no major exchange has ever collapsed because of bad compliance. They collapse because they run out of money, lose user trust, or can’t handle withdrawals.

Flybit’s website still shows due diligence reports for its listed coins. That’s nice. But if you can’t withdraw your funds, does it matter if the coins are "verified"?

Why Flybit Is a Risk in 2025

Let’s compare Flybit to the market:

• Trading volume: Flybit: under $20k/day. Binance: $30B/day. That’s 1.5 million times more activity.
• Fiat access: Flybit: none. Most top exchanges: direct bank transfers, Apple Pay, debit cards.
• Updates: Flybit: none since 2021. Competitors: new staking, DeFi bridges, margin trading, AI tools.
• Withdrawal reliability: Flybit: "if you’re lucky." Others: 99.9% success rate within hours.

Flybit isn’t just behind the curve. It’s off the road entirely.

Who Should Avoid Flybit

Don’t use Flybit if you:

• Want to buy crypto with cash or a bank card
• Need fast, reliable withdrawals
• Trade frequently or in large amounts
• Use mobile apps regularly
• Want a platform that’s actively improving

Even if you’re an experienced trader, there’s no reason to risk your funds here. The fees aren’t low enough to make up for the risk. The volume isn’t high enough to execute trades. The support isn’t reliable enough to help you if things go wrong.

Who Might Still Use It (And Why)

The only people who might still use Flybit are those who:

• Already have crypto sitting there from years ago and don’t want to move it
• Are testing if they can still withdraw (and are willing to wait months)
• Have a personal connection to South Korea and trust the brand from the past

Even then - why not just move your coins to a real exchange? There are dozens of trustworthy platforms with better fees, faster withdrawals, and real customer service.

Alternatives That Actually Work

If you’re looking for a similar experience - low fees, no fiat, focused on crypto-only trading - try these instead:

• Bitfinex: Low fees, strong API, good liquidity, supports 200+ coins.
• Kraken: Transparent, regulated, excellent security, low fees for high-volume traders.
• Bybit: Strong for derivatives, fast withdrawals, 24/7 support.

All of these have real trading volume. All of them respond to support tickets. All of them update their apps.

The Bottom Line

Flybit isn’t dead. But it’s not alive either. It’s a ghost exchange. The website works. The app opens. The balance shows up. But behind the scenes? The servers are quiet. The traders are gone. The support team is stretched thin or nonexistent.

If you have coins on Flybit, move them now. Don’t wait for "tomorrow." Don’t hope it gets better. It won’t.

If you’re looking to start trading crypto, pick any major exchange. There’s no reason to gamble your funds on a platform that’s clearly fading away.