Testing Bybit. You should too!





Bybit is a new Bitcoin trading platform that is gaining more and more members due to its easy handling and features. Since its creation in March 2018, the crypto exchange has already counted more than 100,000 traders worldwide. The daily trading volume is also considerable - up to 2 billion USD are moved here every 24 hours. The reason for this high trading volume is the leverage effect, because on www.bybit.com, Bitcoin, Ethereum and other crypto currencies can be traded with up to 100 times the account balance. So if you have 1000€ on your bybit account, you can trade Bitcoins worth up to 100,000. There are big profits in store, but the risks should not be underestimated. We will explain to you in detail how trading with leverage on Bybit works and which advantages and disadvantages the platform has in our experience.




Bybit fees

One positive point in advance: there are no deposit or withdrawal fees on bybit. Only the transaction fees for the miners are due. There is a taker and maker fee for trading. The taker fee is due as soon as an order is executed that withdraws liquidity from the order book (usually in the case of market orders). This fee is 0.075%. If, on the other hand, liquidity is added to the order book (usually in the case of limit orders), this is even rewarded with 0.025%. This means that you even receive money for this. This is due to the fact that bybit, as well as all other providers in general, live from the liquidity on the platform. If there is not enough liquidity available, large price jumps can occur, which makes trading more difficult or even impossible and therefore the traders leave the platform. Therefore, makers who add liquidity are rewarded for this, and takers who withdraw liquidity have to pay a fee.


The team behind Bybit

bybit is based in Singapore. Although the company is registered in the Virgin Islands for tax and regulatory reasons, it is managed operationally from Singapore. On LinkedIn you can learn more about the team members of bybit. Cofounder is Ben Zhou, who among other things worked for the CFD broker XM as General Manager for 7 years. Expertise in the area of financial services can therefore be attributed to him. On LinkedIn alone, 31 employees of bybit are represented. It is not known how many team members the company has in total.


Advantages and disadvantages of bybit

No platform is perfect. They all have their little quirks that need improvement. But on bybit the advantages clearly outweigh the disadvantages. We see a platform here that was only launched in March 2018 and now comprises over 100,000 traders who generate a daily trading volume of over USD 2 billion. This is really strong and clearly speaks for the platform. Most importantly, thanks to the many members, high liquidity is guaranteed and the site is still very fluid. According to its own information, 100,000 transactions can be executed per second, which should prevent freezing in case of strong fluctuations. At BitMex, probably the largest provider for crypto trading with leverage, only 10,000 transactions per second are possible, which unfortunately very often leads to a freezing of the dashboard and one often fears bad trade executions. Enclosed the advantages and disadvantages on bybit compared:


Pros


- Flexible lever up to 100x

- Low trading fees

- No minimum deposit

- Very clearly arranged

- Very easy registration - 30 sec

- No KYC necessary - anonymous

- Robust with high volatility

- quick support

- Detailed help on the page


Cons


- Deposit only with crypto currencies

- So far only perpetual swaps


If you want to test Bybit like i do click here.



Visit our Passive Income Hub to never miss useful information about Passive Income Methods in the cryptocurrency ecosystem.

https://www.crypto-awareness.org

1 view

Crypto-Awareness