August 8, 2022

Bybit exchange functional overview

Bybit exchange functional overview

In our publications, we briefly introduce our readers to the new functionality of the exchange, and also with advanced Bybit trading platform interface.

At the end of March came into our field of visionPresentation of Ben By, CEO of ByBit exchange, at which some interesting features of this trading platform were presented. Along with the presentation of the mobile version of the Bybit trading platform for iPhone and Android, the CEO spoke about the launch of new direct unlimited USDT-contracts.

Bybit exchange functional overview

What may be of interest to the new functionality of the exchange for ordinary traders, we decided to tell in this series of articles.

First, a few words about the exchange itself.

Bybit positions itself as a platform forcryptocurrency derivatives trading. The exchange was registered in 2018 in the British Virgin Islands and its head office is in Singapore. The platform interface includes Russian and allows you to comfortably serve retail customers from all over the world, providing 24/7 technical support.

Graph visualization andTechnical analysis is implemented using the Tradingview functionality (as well as on many large exchanges, including Binance). Until recently, the platform was available for margin trading in perpetual inverse contracts in only four areas: BTCUSD, ETHUSD, XRPUSD and EOSUSD.

In March 2020, an opportunity was added to ByBitHedge your open positions through direct perpetual contracts in which the calculated currency and quote currency is the Tether cryptocurrency stablecoin. In other words, in order to open long and short positions on any direct contracts, it is enough to have a deposit in USDT on the wallet balance.

According to the CEO, the new servicetakes into account the long-standing wishes of users and fans of Bybit, whose goal is to repeat the functionality of the basic spot crypto market, but with increased leverage.

At the same time, the margin requirements of the exchangesignificantly lower than the nearest competitors. Traders will appreciate the practical and intuitive interface of the application for opening a long or short position, as well as protective orders Stop Loss and Take Profit. An additional bonus is the ability to place or close orders directly on the price chart.

Another confirmation of attention to detailand the opinion of each user is the Most Valuable Feedback (MVF) program and the recently launched Airdrop program, which we will talk about in our next publication.