Bybit is a cryptocurrency exchange founded in March 2018 and headquartered in Singapore. It is a platform that provides traders with the ability to trade a variety of cryptocurrency pairs using both spot and derivatives markets
The platform offers a range of trading instruments including Bitcoin, Ethereum, Ripple, EOS, and Bitcoin Cash, as well as perpetual contracts for other popular cryptocurrencies. Users can trade using either the US Dollar (USD) or the Tether (USDT) stablecoin.
The exchange claims to offer high levels of liquidity, ensuring that traders can buy and sell cryptocurrencies quickly and easily.Users may benefit from crypto trading on Bybit at up to 100x leverage. In addition, Bybit also offers a range of advanced trading tools, such as a customizable trading interface, order types, and risk management tools.
The exchange charges a maker fee and a taker fee of 0.10%. This fee structure is considered very competitive when compared to other major cryptocurrency exchanges.
Bybit also offers a range of deposit and withdrawal options. Users can deposit cryptocurrencies directly into their Bybit wallets. In addition, users can also deposit USDT and USD using bank transfers, credit/debit cards, or third-party payment processors. Withdrawals are processed quickly, usually within 24 hours, and the exchange does not charge any withdrawal fees.
Bybit stores the majority of user funds in cold storage, meaning that they are kept offline and out of reach of hackers. In addition, the platform uses two-factor authentication (2FA) and SSL encryption to protect user accounts and data.
Bybit also offers a range of educational materials, including video tutorials, guides, and trading strategies, to help traders improve their skills and make informed trading decisions. Bybit also has an active community on social media platforms such as Twitter, Telegram, and Reddit, where traders can connect with each other and share their experiences. However Bybit is not available to customers in the U.S. and some other countries, such as the U.K.