Bybit.com is a cryptocurrency derivatives trading platform established in March 2018 and registered in the BVI. It is headquartered in Singapore and has offices in Hong Kong and Taiwan. They have users from all over the world including North America, Europe, Russia, Japan, South Korea and Southeast Asia, and are focused on serving everyone from individual retail clients to professional derivatives traders.
To these ends, Bybit provide 24/7 multi-language online customer service in order to give solutions for users in a timely manner and are committed to creating a fair, transparent and efficient trading environment. Currently, the products on the platform include BTC/USD, ETH/USD, XRP/USD and EOS/USD perpetual contracts.
How To Start With Bybit.com
To start trading with Bybit.com,Indian residents first have to sign up for an account by following the steps below.
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Bybit.com website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Bybit.com account.
Bybit Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. They call makers for “makers” as their orders make the liquidity in a market. Takers are the ones who “take” this liquidity by matching makers’ orders with their own.
At Bybit, takers are charged 0.075% per order. This is difficult to compare to the global industry average taker fees for regular centralized exchanges, as the instruments traded at the different exchanges are also different from each other. In any event, 0.075% is a fair fee.
When it comes to the makers, their fee is -0.025%. This essentially means that each maker get paid to trade. To clarify, let’s say that you are the maker in an order where you purchase cryptocurrency for USD 1,000. This means that instead of paying USD 1,000, you will only have to pay USD 997.50. This is a very competitive trait indeed.
Bybit does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency.
Bybit Withdrawal fees
When withdrawing BTC from the Bybit trading platform, you will have to pay 0.0005 BTC. This is 40% lower than the global industry average BTC withdrawal fee (0.0008 BTC) and thus also a very competitive withdrawal fee.
Why Trade With Bybit.com
Keep your funds safe
The platform is built on the industry’s leading hierarchical deterministic cold wallet system which stores all digital assets of users and the platform. Each deposit address assigned to users is a cold wallet addresses. Digital assets collection and withdrawal are done through offline signatures. The withdrawal review includes all blockchain deposit records, transaction records, individuals account balances and platform account balances, to safeguard the asset security of the users and the platform. In order to create a positive user experience, they have invested in more human resources to conduct withdrawals 3 times per day.
State-of-the-Art Matching Engine
Never worry about overloads Full-memory ordering, matching and positions, 100,000 transactions per second; each matching is completed within 10 microseconds.
No server downtime With grey release feature and hot patches released on the go any maintenance and upgrades of the system will not affect normal usage, and the system functionality and availability is up to 99.99%. Bybit promises that the data of accounts and transactions will not be compromised due to system error. Otherwise, Bybit guarantees to bear the full cost of such error.
Receive immediate feedback Chat live 24/7 with professional multilingual Customer Support Team
Advanced order system
Bybit.com advanced order system allows traders to set up their TP/SL in one click from the order confirmation window and gives them access to multiple order types and time in force.
What We Believe In
At Bybit, they listen, care, and improve to provide the best possible trading experience and create a faster, fairer, and more human trading environment.
Like most other exchanges offering leveraged trading, Bybit also has a referral program. The referral program gives any user who has a referred a customer that has deposited at least 0.02 BTC a reward of USD 10. This is not the most generous referral program we have heard of. But hey, it’s better than nothing!
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