Bybit is a crypto exchange from the British Virgin Islands. It is a crypto
derivatives exchange, focusing on the trading pairs BTC/USD and
ETH/USD.
Bybit is the safest, fastest, most transparent, and
user-friendly Bitcoin and Ethereum trading platform offering cryptocurrency
perpetual contracts.
Bybit Exchange Fees
0.0005 Withdrawal Fee • 0.075% Taker
Fee • -0.025% Maker Fee
Deposit Methods
WIRE TRANSFER CREDIT CARDCRYPTOCURRENCY
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user-friendly crypto exchange
BTC Futures Trading
Bybit Cryptocurrency Exchange Platform
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Analysis Bybit
For you to find the correct one for you, a crypto exchange
guide must include reviews of all the exchanges out there. This Bybit analysis
consists of four parts: general data, fees, methods of deposit, and security.
Products currently offered on the Bybit platform include
BTC/USD, ETH/USD, XRP/USD, EOS/USD, BTC/USDT, ETH/USDT, LTC/USDT, XTZ/USDT, and
LINK/USDT perpetual contracts.
General Data
Bybit is a British Virgin Islands Crypto exchange. Bybit
announced on its website on the date of the last update to this analysis 06
December 2020) that it had more than 1.2 million users, which is very
impressive.
Bybit is a crypto derivative exchange where a certain number
of assets can be exchanged with up to 100x leverage (see above what cryptos you
can trade here). That's not everything you can swap, though. It is also
possible to trade quarterly futures contracts on this site. Based on their
calendar period, these contracts will expire and converge on the spot price.
One key benefit is that there is no need for users to pay any funding costs
anymore.
The Bybit matching engine is expected to be capable of up to
100,000 TPS (Transactions Per Second), which is extremely exciting for those
involved in leveraged trading and a great future. As there is no way for us to
check this information, we say "allegedly," not because we mistrust
it in any way. Bybit consistently enhances the security and efficiency of the
platform for trading. For example, they made a range of speed improvements to
the platform on 2 December 2020, which made order placements 50 percent faster,
made the trading platform require 50 percent less CPU and memory load, and made
EMEA and Latin America connections 500 percent faster.
Why Trade With Bybit
Smart Trading System
Set up take profit/stop loss at entry, receive strategy
alerts and adjust your order(s) with one click
Significant Market Depth
Bybit offers the best-in-class market depth, each trade
executed with the minimal price impact
HD Cold Wallet
Our industry-leading HD cold wallet system guarantees the
safety of your funds
100K TPS Matching Engine
Never worry about overloads with our ultra-fast matching
engine
State-Of-The-Art Pricing System
Rest assured, you won't encounter unfair liquidations with
our dual-price mechanism
Powerful API - Market Data Pushed Every 20ms
Conduct high-frequency trading with lightning-fast market
updates with our powerful API
99.99% System Functionality
No server downtimes thanks to our grey release feature and
hot patches released on-the-fly
24/7 Customer Support
Get all your queries answered anytime with our
round-the-clock, multilingual customer service team
Mobile Help Bybit
This platform is available not only for desktop phones but
also for cell phones running Android and Apple. Today, most traders in the
crypto world conduct their trades through the desktop (around 70 percent or
so). Naturally, though, there are individuals out there who just want to do it
from their mobile phone. If you're one of those people, then you can still be
on this forum.
Trading Leveraged
Bybit helps you to trade with leverage, as noted above. This
means you can get a higher exposure to the price rise or decrease of certain
crypto, without necessarily having the requisite amount of assets. By
"leveraging" your trade, you do this. This implies, in basic terms,
that you borrow from the exchange to bet more. On this platform, you can get as
much as 100x leverage.
Referral Program
Bybit also has a referral scheme, much like most other
markets offering leveraged trading. The referral program offers a reward of USD
10 to any customer who has a referred client who has deposited at least 0.02
BTC. This is not the most generous scheme we've heard of for referral. But hey,
this is better than none at all!
View of Bybit Trading
Various exchanges have varying opinions on trading. And
there is no "this is the best overview"-view. You should decide for
yourself which trading viewpoint suits you best. What the views usually have in
common is that they all display the order book, a price chart of the selected
cryptocurrency and order history, or at least part of the order book. Normally,
they also have buy-and-sell sets. Try to look at the trading viewpoint before
you pick an exchange so that you can verify that it feels good to you. An image
of the trading view at Bybit is below:
Fees for Bybit
Bybit Fees for Trading
Each exchange takes place between two parties: the maker
whose order occurs prior to the trade on the order book and the taker who
places the order that suits (or 'takes') the order of the maker. We refer to
"makers" as the liquidity in a market is rendered by their orders.
Takers are all who, by matching the orders of makers with their own,
"take" this liquidity.
Bybit Fees for withdrawal
You'll have to pay 0.0005 BTC when withdrawing BTC from the
Bybit trading site. This is 40 percent smaller than the average BTC withdrawal
fee of the global industry (0.0008 BTC) and is thus therefore a very
competitive withdrawal fee.
Methods Of Deposit
Bybit Security
Focus on Derivatives and Choose the Right Path
Bybit currently serves more than 400,000 users from 117
countries. As a derivative trading platform, it is naturally immune from
fiat-crypto exchange risks and ICO/IEO related securities policy risks.
Pursue Sustainable Development
On top of debt-free operations, Bybit has achieved
sustainable profitability, making it possible to avoid counterparty and
performance risks.
Fair Rules Promote Fair Trade
Common market risks include radical market price movement,
price manipulation, and dysfunction of the price quoting system, all of which
have the potential to severely disrupt the market. Such problems are
more prominent in the cryptocurrency field than in traditional financial
markets.
A Transparent and Self-regulated Platform
Regulation of Security Threats
The level of security expenditure represents a company's
security dedication and capability. A good benchmark for comparison within an
industry is the safety investment/IT investment ratio. For example, in the
internet industry, the ratio is about 10 percent, in the financial industry, 5
percent to 8 percent, and in other industries, below 4 percent. Between crypto
trading platforms, about 15% is invested by many of the major players. Bybit
currently spends about 20 percent and this is projected to rise in the future
to 25 percent to 30 percent.
Operational risk management is a core function for most
financial institutions. Prior to proper industry-wide regulation, Bybit
believes that transparency and self-discipline are essential for operational
risk management.
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