Bybit (Crypto Derivatives Exchange)

Details

Broker Bybit
Website URL https://www.bybit.com/
Founded 2018
Headquarters Singapore
Languages English, Japanese, Chinese, Korean, Russian
Bonus No KYC Trading
Leverage Up to 100:1
Free Demo Account No
Account Types BTC, ETH, XRP, EOS,
Deposit Methods BTC, ETH, XRP, EOS, ERC20 USDT, Omni USDT
Withdrawal Methods BTC, ETH, XRP, EOS, ERC20 USDT
Number of Assets 5
Types of Assets BTC/USD, ETH/USD, EOS/USD, XRP/USD, BTC/USDT
Trading Currency BTC
Account Currency BTC
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 85

Pros

  • Anonumous Cryptobroker
  • Very Reliable Trading Exchange
  • State of the Art Safety and Security
  • Fast Order Execution
  • Low Trading Fees

Cons

  • No Forex, Stocks, Commodities Trading
  • Only 5 trading Instruments

Bybit is a cryptocurrency derivatives exchange, which means that you can deposit only cryptocurrencies.

The exchange offers numerous 100x leverage perpetual contracts, 10x the industry speed, one of the best market liquidity depth in the industry, and 24/7 live Customer Support

Bybit is a P2P cryptocurrency futures-platform. Its main headquarters are in Singapore. The parent company is Bybit Fintech Limited, registered in the British Virgin Islands. They have a team of experts in blockchain technology and finance, their members come from Morgan Stanley, Tencent, etc.

Bybit has around 100 employees. It is a relatively new company, launched in March 2018.

Bybit operates under the domain https://www.bybit.com/

 Bybit’s main motto is the offering of perpetual crypto derivative contracts in regards to Bitcoin, Ethereum and Ripple.

 

Creating an account in Bybit

Sign up in Bybit is easy, there is no KYC verification, exactly like Evolve Markets, PrimeXBT and BaseFex

There two ways to register an account in Bybit:

  • Email Registration: You just use an email and a password
  • Mobile Phone Registration: You add a contry code, a mobile phone nymber and a password

Either way you select to register a trading account in Bybit, you have full access to all features and functionalities of Bybit Trading Platform.

In Bybit, you do not have to verify your ID (Name, Home address, National ID Card, Driving License, Credit card number etc), although in terms and conditions the company that has the right to ask such kind of information.

If you looking a completely anonumous Trading Broker where you sign up using only your email and your password then visit BaseFEX.

 

ByBit Deposit and withdrawals

In Bybit you cannot deposit with fiat currencies such as USD, EUR etc.

Bybit accepts ONLY crypto deposits.

Specifically, a trader in Bybit can deposit Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS and USDT.

Tether USD (USDT), is a stablecoin which price is pegged to the USD price => (1 USDT= 1 USD). For USDT, Bybit supports direct deposits from Bitcoin-based USDT (Omni USDT) and Ethereum based USDT  (ERC20 USDT).

There are no minimum deposit requirements, but there are minimum withdrawal requirements.

Withdrawals are manually executed three times a day and there is also a cut-off time for withdrawals which is 30 minutes before the withdrawal processing time that the trader schedules. You will be able to see your withdrawals in your wallet 1 to 2 hours after you have made them.

The minimum withdrawals requirements are:

  • Eos: 0.2EOS
  • XRP: 20XRP
  • ETH: 0.02ETH
  • BTC: 0.002BTC

Furthermore there is a withdrawal fee you have to pay every time you withdraw money, and this fee is 0.0005 BTC.

If you are looking a Trading Broker without withdrawl fee you should visit Evolve Markets and XBTFX

Bybit Trading Platform & Leveraged Assets

Bybit offers to traders its own custom made online platform, combined with Bybit trading App for mobile and Tablets.

Unfortunantely, in Bybit you cannot trade Forex, Stocks, Indices etc. Bybit is not a Forex Broker, rather than is a derivatives exchange only for Cryptocurrency Trading.
In Bybit, you can trade Bitcoin to US Dollar (BTC/USD), Ethereum to USD, Ripple to USD (XRP/USD), EOS/USD. A new addition is USDT, where Bybit offer a BTC/USDT perpetual contract

The leverage in Bybit will depend on the value of the derivative that you want to use for trading. You have to remember that leverage trading is risky and you have to be careful when using it.

In transactions involving ETH, EOS and XRP leverage of 50x maximum is offered. BTC/USD offers higher leverage, up to 1:100

Trading pairs and their leverage:

Perpetual Contract Leverage
BTC/USD 1:100
ETH/USD 1:50
XRP/USD 1:50
EOS/USD 1:50

In Bybit you can also make different types of orders, such as standard market orders with which you can process transactions once you have pressed the button at the current market rate.

There are also limited orders that give you the opportunity to select the price you want your order to run at. And from any of these types of orders, you can “Buy / Long” or “Sell / Short”.

 

Bybit Supported countries

Bybit is available to inhabitants of the following countries: United Kingdom, Germany, France, Australia, China, Japan, India, Portugal, Norway, Canada, Italy, Spain, Brazil, Sweden, Ukraine, Ireland, Romania, Poland, Belgium, Netherlands, Austria, Switzerland, Peru and Argentina.

Unfortunantely Bybit does’t accept traders from United States of America, Québec (Canada), Singapore, Syria, North Korea, Sudan, Cuba ,Crimea, Sevastopol, Iran.

 

Referral,  Affiliate & Sub Affiliate program

Bybit offers to the trader a referral program.

This program works like that:  Each new member who joins the platform through the trader’s reference, the trader will receive the Bitcoin equivalent of 10 USD.

Another important fact is that the user you recommend must deposit at least 0.02 BTC.

Bybit offers an average affiliate program, with commissions up to 30%. They claim that up to today they have paid their affiliates more than 200 BTC.

Their affiliate program offers also a sub-affiliate which is 10%.

Conclusion

Bybit is an anonymous high leverage (up to 100x) crypto-trading broker offering only five crypto – pairs, two of them inluce Bitcoin (BTC/USD and BTC/USDT). Their innovative platform is easy to use and will satisfy both newbie and experienced traders.

Deposit with your Bitcoin and start crypotrading in a quality cryptoderivatives Exchange such us Bybit.


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