ByBit Exchange Review: Crypto Derivatives Trading Exchange
ByBit is an exchange opened in March 2018, allowing users to trade perpetual derivative contracts for cryptocurrencies with a margin of up to x100. The company is headquartered in Singapore and registered in the British Virgin Islands. Inverse perpetual contracts are available for BTCUSD, ETHUSD, XRPUSD, EOSUSD and linear BTCUSDT. ByBit is one of the top 5 platforms by the volume of futures trading.
ByBit also serves professional crypto traders who buy and sell derivatives and individuals. After registration at the exchange, you will be offered to perform several simple tasks and get a cash bonus to your account. The exchange interface is very native and friendly, in order to start trading you need to deposit any of the five assets of BTC, ETH, EOS, XRP, USDT.
ByBit Exchange is oriented to users from all over the world, that’s why it offers multi-language interface and technical support, demo account, 24/7 operators work, efficient and honest trading environment. After you sign up, make a deposit to your account, we recommend you to activate two-factor authentication in order to protect your account from possible hacker attacks and tie it to your phone.
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Advantages of ByBit
- No account verification required (KYC)
- Margin trading on the ByBit exchange, leverage up to x100.
- High speed of transaction processing (100000 per second).
- User-friendly and simple interface of the trading terminal.
- Requests for withdrawal are processed 3 times a day (for Bitmex – 1 time).
- Round-the-clock operation mode of the trading platform and support service.
- API key interface, allowing to manage trading from internal desk or trading through bots.
- Availability of insurance fund.
- It is impossible to lose more initial margin.
- Information about ByBit management and employees is available.
- Double price mechanism for protection against manipulations.
- Secure cold storages.
- Activity in social networks.
- Affiliate program.
- Welcome bonuses up to 90 $.
- User friendly mobile IOS and Android app, letting manage your trades everywhere.
List of available trading pairs and leverage
Currently, ByBit offers leveraged trading with:
- Perpetual contracts (up to x100 leverage) – BTC/USD, ETH/USD, EOS/USD, XRP/USD
Funding occurs every 8 hours.
Registering on the platform takes no more than a minute. After that you will have to make a deposit and proceed to trading. On ByBit there is no identity verification procedure, no KYC. To register, you need just need to fill this registration form.
ByBit registration form
After registration is done, login into your account. Proceed to “My assets”, right upper corner in the dropdown menu. And here you can deposit any asset available on the platform BTC,ETH,EOS,XRP or USDT.
ByBit trading account interface.
If you don’t have any crypto yet, ByBit offers funding account through credit card.
Account funding via fiat on ByBit
As on a bitmex, the commission is paid only by the takers, the makers are paid extra. A real paradise for a trader with the ability to earn on price changes or hedge risks!
The BitUniverse “Exchange Asset Transparency” project, which ByBit has joined, openly demonstrates the assets of the platforms and welcomes user control. An independent third party discloses information about the assets, and access to the data is provided through a public blockchain, not through the platform. In the future, ByBit will make even more data transparent by publishing more information about transactions and operations on the platform.
In addition to the transparency mechanism, ByBit uses such internal control measures as per-minute reconciliations, monitoring of internal financial resources dynamics, etc., so that any movement of funds inside and outside the blockchain has independent lines for timely monitoring, response and processing. The internal control uses an integrated risk management framework of traditional financial institutions, including internal and external fraud protection, anti-money laundering, etc. This is not explained in detail by ByBit.
We running a test for all cryptocurrency exchange websites in Mozzila’s Observatory (https://observatory.mozilla.org/). This is one of the many tools to test exchange security. ByBit got a score F.
There’s two affiliates program on a ByBit. Rather you choose to get paid fixed amount per user, or you can choose two tier commision program. All referrals registered through your link gets welcome bonus up to 90$ ! Payouts made on a daily basis. Here’s the two tier commision program.This is in depth affiliate program description
Affiliate program details on a ByBit
Here’s the two tier commision program. For each referral your referral bring, you get 10% commision!
ByBit offers two tier commissions
ByBit is a convenient trading exchange with competitive fees, strong technological component and clear interface. The platform can become a good alternative to many exchanges that are currently considered leaders in the derivatives trading industry. A non-deposit bonus and demo account will be a good solution for learning how to trade cryptocurrency.
Very high-tech exchange with full protection of your funds from market manipulation and hacking, no manipulations with your open positions. All this allows you to fully focus your attention on trading, everything else ByBit will think about.