Bybit is one of the growing crypto trading platform exchange the company was established in year 2018.the company has only 4 years right now into the financial market. With approximate 3,000,000 user worldwide.
The bybit user can trade on two different mode spot trading and derivative trading with a more concentration on margin trading. Bybit offering up to 100x trading on leverage on BTC/USD and ETH/USD trading pairBybit Prons and Cons
Prons:
· Access to trade both in web and mobile app
· Bybit leverage is very high, attractive trading fees and market maker rebate.
· It’s easy to start trading without KYC needed for a new user.
· Multiple order types available such as limit orders, partial orders, conditional orders and market orders.
· Has Insurance Fund guarantee to mitigate and cover losses.
· Derivative Contracts settled in Coin and USDT.
· Lowest fees-commission for exchanges
· A lot of bonuses.
Cons:
· limited number of pair for trading
· Not regulated broker.
· Trading volume statistics cannot be verified to determine its authenticity.
· US citizens are not permitted to trade.
Bybit User Experience
The bybit offer many bonus and inventives to their users including big referred rewards and cryptocurrencies bonus for doing nothing just to follow bybit platform in their social media handler and also being an active trader on their platform. In addition to that bybit offer many bonus for deposition on their platform.
For those that don’t need any long processing for funding and withdrawal money bybit is your favorite broker, because they don’t require any KYC before you start trading on their platform.
Platform Features and Functionality
Bybit has good user experienced because the platform offer educational resourse for their user to learn every day and make some good profits in trading. In addition to that bybit has offer a free demo account for practicing. And the platform is user friendly for both experienced and inexperienced traders.
Bybit Demo (Testnet)
Bybit offer a demo account name testnet for their user to get used to their platform and do more practicing before trading with their real money. The testnet have the same features with the real bybit platform but it operate with a virtual money specifically for practicing.
Bybit Payment Methods
Bybit offer one and only payment method via cryptocurrency as a form of funding your bybit wallet. If you want to fund your bybit wallet account you need to buy cryptocurrency through P2P market.
Deposit and Withdrawal Methods
ByBit offer free commission fees for deposition and charge small fees for withdraw/transfer fees
There are limited number of coins in bybit but you can deposit or fund your bybit wallet with the following available coins:
· BTC
· ETH
· EOS
· XRP
· USDT (ERC-20)
· USDT (TRC-20)
Note that you can withdraw your fund through available coin in bybit as mentioned above
Bybit Available Pairs
Below are the available pair in bybit platform including:
· BTC/USD
· BTC/USDT
· ETH/USD
· XRP/USD
· ETH/USDT
· EOS/USD
· LTC/USDT
· LINK/USDT
· BCH/USDT
· XTZ/USDT
Limits
Futures contracts and perpetual contracts have price limits of 5% for all trading pairs, for both Highest Bid Price and Lowest Ask Price
Bybit Fees
‘Makers’ or ‘Takers’. Market Makers provide liquidity and market depth, whereas market Makers squeeze the liquidity from the order book. Makers orders are not filled immediately, whereas Takers orders are filled immediately as a market order. Market makers are rewarded for providing liquidity and market depth.Bybit offers a maker fee (rebate) of 0.025% instead of charging fees to Makers, unlike a fee of 0.075% charged for Takers. The net cost accrued by the Bybit platform is 0.05%. One can withdraw funds by entering the wallet address and clicking the withdrawal button three times a day with a withdrawal fee. Bybit withdrawal limits are 10BTC. It also has limits on daily withdrawals, which is 0.0005 BTC, and Bybit Funding Fee or Funding Rate is 0.02%/ -0.02%.
Bybit Mobile APP
Bybit have mobile app available for their user to download on google play store and in Apple store for iphone user both Android and Iphone user enjoy the good feacture offer by bybit good graphic interface and easy to navigate.
Bybit Order Types Available
The bybit Order types include:
· Limit Orders
· Market Orders
· Stop Limit
· Stop Market
· Post-Only
· Close on Trigger
· GoodTillCancelled
· ImmediateOrCancel
· FillOrKill
Educational Content
The bybit offer alots of educational tips for their user to get insight of the market situation and take a decision on their trading through their social media accounts and blog.
Bybit Promotions
Rewards Hub
Bybit offer reward for new signups, $50 coupon for first-time deposit within 48 hours and $10 after 48 hours, $5 bonus on a BTC deposit, and $5 coupon on following Bybit on social media channels or networks. It is also conducts trading competitions offering colossal prize money to the winners.
Flash Deals
Bybit offer $10 coupon for active users for seven accumulative days, $20 coupon for a total deposit of one or more bitcoins, $5 coupon for the use of Taking Profit/Stop Loss feature at least once, $5 coupon for trading at least one USDT perpetual excluding BTC, USDT.
Bybit Referral Program
The bybit referral program aims to share the financial incentive with the active traders who introduced or referred friends and families to Bybit. Traders can earn an instant bonus of $10 equivalent in BTC. The following table shows the referral bonus earned based on the trade volume of a newly introduced user.
Prohibited Countries
Bybit has some restriction and not
allow to use on the following listed countries including:
· United States
· United Kingdom
· Canada
· Singapore
· Cuba
· Iran
· Syria
· North Korea
· Sudan
· Mainland China
· Crimea
· Sevastopol
· Russia.
Bybit Customer Services
You can reach Bybit in case of any issue arise you can have live chat with the customer service 24/7 below are the media that you can reach bybit platform.
- · twitter:@Bybit_Official
- · Telegram: https://t.me/Bybit_Announcements
- IT Support: IT@bybit.com
- Affiliates: IB@bybit.com
- Media: Media@bybit.com
- Partnerships: Partnerships@bybit.com
How to Open Bybit
Account
Registration Using Website
- Go to the official website,
- Click on the registration.
- Fill in the required details information provided.
- Read all the terms and conditions and click on ‘Sign Up
Registration Using Mobile App
- Download Bybit App. Select ‘Assets’ on the bottom right corner.
- Click on the ‘Login’ tab.
- Click on the ‘Register’ tab on the top right corner.
- Register either through the Email or Mobile option.
- Click on the ‘Sign Up’ tab.
- Verify a code sent to the Email/account’s registered Mobile number.
RISK DISCLAIMERS
This website includes information about cryptocurrencies, (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. knowaboutcryptocurrency.blogspot.com encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. All contents on this site is for educational, and informational purposes only and does not constitute any financial advice. Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions. Knowaboutcryptocurrency.blogspot.com may receive compensation from the brands or services mentioned on this website at no additional cost to you.
Risk Warning: Trading CFDs on leverage involves significant risk of loss to your capital.
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