Bybit

About Bybit

Bybit is a cryptocurrency exchange established in March 2018. The platform focuses on offering trading products such as perpetual and futures contracts on cryptocurrencies such as Bitcoin, Ethereum, Ripple and EOS. The exchange also has a strong emphasis on security and customer service. Bybit has become a popular choice among crypto traders worldwide.

Bybit is headquartered in the British Virgin Islands. Although registered in the British Virgin Islands, Bybit also has offices in other countries and regions to support a broad user base.

Why trade through Bybit? Bybit itself names the following USPs.

Buying without effort
Simply deposit money into your account via SEPA or iDEAL with no transaction fees.

Safe and secure
Thanks to the 'security first' mentality and outstanding knowledge of the market, Bybit guarantees a safe and reliable experience.

More than 10 years of experience
Bybit has been involved in the world of cryptocurrencies from the beginning and offers deinsten for seven major cryptocurrencies.‍

Collaboration with Satos‍

On June 15, 2023, Bybit partnered with Satos specifically for its Dutch users. The partnership with Satos allows Dutch users to continue using Bybit despite regulatory changes. Also, transactions can now be made easily via iDeal, for example.‍

The ByBit Exchange Review‍

In order to make a good judgement about Bybit as a trading platform, the platform was assessed based on four pillars:

• Trading costs
• Platform security
• Tokens Available
• Platform liquidity
  

Bybit Trading Fees‍

Bybit is known for its economical fee schedule, which is advantageous to traders. The introduction of the VIP program will overhaul the current fee rates for trading in both spot and derivatives markets. Traders can now benefit exclusively from either the VIP program or the Bybit Loyalty program.

Here's how it's structured:

‍Payment Methods‍

Bybit offers the most common payment methods, below is an overview of the payment methods along with the necessary fees. Bybit currently supports 7 payment methods including SEPA for instant transfers:‍

The Security of the Platform‍

Like the other exchanges, Bybit states that it values the security of its users. Bybit says it can guarantee the security of its users in the following ways.‍

Triple-Layer Asset protection‍

Bybit securely store user funds offline in cold storage wallets. Benefit from our Triple Layer Protection for your funds, utilizing cold storage to guarantee robust security and comprehensive safeguarding of user assets, delivering a secure and dependable experience.‍

Privacy protection‍

The Bybit products and services are designed with a privacy-centric philosophy. Bybit maintains transparency regarding the data collected from you, explicitly outlining its use and disclosure.‍

Advanced data protection‍

Data is secured through encryption both when stored and during transmission. Rigorous access controls are implemented to guarantee that only you have access to your confidential and personal information.‍

Real-Time monitoring‍

Bybit's risk management system continuously observes and assesses user activities in real-time. If any unusual behavior is detected, the system initiates advanced authentication protocols to bolster security.‍

Security by Design‍

Bybit’s system emphasizes security, incorporating a secure development lifecycle, comprehensive security assessments, and ongoing bug bounty initiatives.‍

24/7 customer support‍

24/7 customer support, available in several languages. Should anything go wrong while trading, Bybit is there for you 24/7.

‍Token Availability

Supported Cryptocurrencies on Bybit‍

The Bybit Exchange, a prominent player in the cryptocurrency trading space, offers an extensive range of supported cryptocurrencies, catering to a diverse range of trader preferences. The platform offers access to major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and EOS:

‍Platform Liquidity

Bybit chart

One of the most valuable tools on Bybit is the advanced chart feature. It allows users to perform technical analysis on various cryptocurrencies and monitor market trends. This is the place where traders can easily trade and find the most important trading information.

Buying crypto at Bybit is available in different ways:

• On-click-buy: By Crypto in seconds
• Fiat deposit: Bank transfer or bank Card
• Crypto deposit: Instant crypto deposits‍

Take advantage of additional bonuses through Bybit‍

Not using Bybit yet? Then quickly sign up for an account here and take advantage of attractive bonuses and promo codes. Bybit also regularly has attractive actions and promotions for its users.

Bybit App

With the Bybit APP you can manage your digital currency from your phone, anytime, anywhere. The interface actually works pretty well. Also in the app it’s really easy to do your trades and all 200+ currencies are able to trade within the app.

‍Bybit Features‍

In comparison to most other centralized exchanges, Bybit is limited to its features/services, as it currently only offers Trading, Staking and an On & Off Ramp.‍

Let’s take a closer look at each one:‍

TradeGPT‍

Bybit recently introduced TradeGPT as an AI-Bot. It helps users analyze large pieces of data but also provides insight into the latest market trends, for example. The first question the bot asks immediately describes very clearly what it was created for:

Welcome to TradeGPT, your personal AI investment assistant. Need suggestions on popular currencies, market trends, trading strategies, technical analysis? I'm here to help! I'll guide you with technical and market insights based on Bybit's data.

‍Trading bot‍

Bybit offers a sophisticated trading bot for its users, providing an automated way to execute trades 24/7. These bots, driven by algorithms, can swiftly respond to market changes, following predefined trading strategies. This automation is particularly advantageous for seizing opportunities outside regular trading hours or for those who prefer an automated trading approach. Customizable to fit individual strategies and risk preferences, Bybit's trading bot exemplifies the exchange's commitment to innovative and accessible cryptocurrency trading solutions.‍

Position builder‍

Bybit's Position Builder is a key tool for traders, designed to simplify and optimize the process of managing trading positions. It offers users an intuitive way to plan and execute their trades, taking into account factors like leverage, risk, and potential profit. This feature is especially useful for both novice and experienced traders, allowing for precise control and customization of trading strategies. Bybit's Position Builder reflects the platform's focus on providing user-friendly and efficient trading tools in the fast-paced world of cryptocurrency markets.‍

Final review on Bybit

‍In conclusion, Bybit is an excellent exchange with a great variety of tools, cryptocurrencies and security. It would be great to see Margin and/or Futures trading integrated to the Bybit exchange, but for now, Market & Limit orders will have to do!‍

The latest Bybit news‍

Be informed about the latest Bybit information and find the latest news about the Bybit exchange below: