Bybit cryptoexchange review: a progressive platform with many tools for effective trading

Bybit exchange is one of the most progressive andinnovative cryptocurrency platforms. The platform occupies a leading position in terms of the speed of execution of contracts, offers many tools for effective trading and a number of additional ways to earn money.

General characteristics

The Bybit platform has a user-friendly interface,professional risk management tools, an order matching engine with a speed of 100 thousand transactions per second and its own cloud mining service (discussed in detail below). Onlyover three years, the exchange attracted more than 2.5 million users and took leading positions in the industry in several areas.

Key features of the platform: 

• is in the TOP-5 in terms of daily volumes of futures contracts (about $ 7 billion daily);
• one of the best liquidity indicators on the market; 
• intelligent trading system;
• large market depth with access to a variety of order types and expiration dates;
• system operation 99.9% without downtime due to maintenance and system updates in real time;
• high frequency trading with powerful API;
• round-the-clock Russian-language support service;
• protection against market manipulation due to the double price mechanism.

Traders can operate both in the derivatives market,and on spot. The order placement system allows you to set TP/SL, as well as the functions of strategic alerts and order adjustments – at the touch of a button. 

In addition to the desktop version, users have access to a convenient mobile application for Android and iOS.

Client assets are stored in a hierarchically determined offline wallet system. The crypto exchange requests KYC verification if it is necessary to withdraw more than 2 BTC per day.

Trading conditions and instruments

At the time of publication, more than 25 trading pairs are available on the platform. The Bybit derivative line includes 3 types of contracts, differing in base pairs and methods of calculating profit / loss:

• inverse perpetual contracts: BTC/USD, ETH/USD, XRP/USD, EOS/USD; 
• linear perpetual contracts: BTC/USDT, ETH/USDT, DOGE/USDT, BCH/USDT, LINK/USDT, LTC/USDT, XTZ/USDT, ADA/USDT, DOT/USDT, UNI/USDT, SUSHI/USDT, XEM/ USDT, XRP/USDT and AAVE/USDT; 
• inverse futures (quarterly BTC / USD and ETH / USD).

Depending on the pair, the maximum leverage can be up to 50x or 100x. The commission of the market participant accepting the order is 0.075%, and the bonus for the order creating is 0.025%.

Spot trading on the platform – These are trading pairs of USDT and BTC contracts, which are constantly updated with new coins. Commission for maker 0%, for taker – 0.1%.

Traders have access to various types of orders and many trading functions from the chart. Integration with TradingView, 3commas, Tiger trader, Haasonline.

Multiple Fiat Partner Providersprovide Bybit users with the ability to buy digital assets using their national currency, including the Russian ruble, Ukrainian hryvnia, Azerbaijani manat, Georgian lari, Kazakhstani tenge, Moldovan leu, and Uzbek sum.

Additional features

The exchange offers bonuses and promotions for newusers upon registration and the first deposit, training materials, and also conducts local and international trading tournaments with a prize fund of up to $ 7.5 million. In addition to the opportunity to profit directly from trading, the platform provides a number of related ways to earn money.

Mining ByFi

In May 2021, Bybit launched the ByFi Center – own Ethereum (ETH) cloud mining project, which was supplemented with a DeFi mining service in July.

The service offers access to ether mining forminimum investment from $100. All you need to do is buy the desired amount of hashrate and receive tokens directly from the cloud. The project offers flexible 7-, 21- and 42-day plans.

DeFi mining supports Curve Finance protocol.Funds allocated to the selected decentralized financing plan are distributed to liquidity pools via Curve. This gives the user the right to claim the protocol control token, CRV, and a share of the transaction fees.

Referral program

For each confirmed referral, the trader and his referral will receive a bonus of $ 20 in BTC. The number of invitations is not limited.

Seasonal rewards as part of the referral programprograms are awarded when the conditions of the promotion are met during the specified period of its validity. For example, from July 1 to September 30, 2021, participants in the referral program receive, in addition to the basic bonus, Special cards of various denominations (up to $500) if certain conditions are met. Approved referrals can also qualify for Special Cards, but only if they reach a certain trading volume. 

Affiliate program

The company partners with opinion leaders who share its mission and values. More than 11,000 partners all over the world participate in the program.

Partners receive compensation in the chosencryptocurrency: monthly commission for each referred trader, a percentage of their trading volume and the income of sub-partners. Commissions are more than double industry standards. 

Bybit Education: learning crypto trading

The exchange holds weekly master classes,seminars and workshops in Russian. Live broadcasts take place on Youtube and are available to everyone. A blog with daily analytics and theory of crypto trading is also available.