Bybit is an exchange for a digital currency that aspires to be the best in the industry.

By combining the advantages of cryptocurrencies with conventional finance, the Exchange hopes to continue a revolutionary trend in the business. In any case, as we proceed through this evaluation, you and I will learn about every one of this Exchange’s incredible features. Okay, so let’s begin!

Experts at Traders Union prepared a deep bybit review to clear up all of your doubts.

Overview of Bybit

• Bybit was launched in March 2018 as a derivatives exchange for cryptocurrencies.
• Ben Zhou, founder and CEO of Bybit, has worked in the foreign exchange industry for around eight years.
• Leaders in the field of foreign Exchange made up the Exchange’s founding staff.
• Financial services, blockchain pioneers, and early adopters.
• The Exchange was established on the principle that parties should be able to transact security between each other based on the expected value of an asset at a future date.
• They work hard to supply top-notch, high-quality, user-friendly, and forward-thinking online trading and mining.
• In addition, we have extensive experience staking for individual customers and large institutions.
• Bybit Fintech Limited, a company based in the British Virgin Islands, is the parent company of the exchange trading website.

Bybit Exchange’s Key Features

The significant aspects of bybit Exchange are as follows:

• Blog
• Launchpad
• BybitLearn
• Mobile App
• ByFi Center
• 24/7 multilingual support
• 99% System Functionality
• Margin trading up to 100x leverage
• Bybit API
• Affiliate Program
• Referral program

Bybit Services

Bybit offers the following services to its users:

• Spot Trading
• Derivatives
• Buy Crypto
• NFT
• Flexible Staking
• Dual Asset Mining
• Launchpool

Supported Countries

Users can join Bybit from anywhere in the world. However, the market is not available in all regions.

• In the United States of America,
• The provincial capital of Quebec, Canada
• Syria
• United Kingdom

In order to utilize the service, traders must verify they are not located in these countries.

Listed Currencies

Bybit currently supports the tokens and coins listed below:

• BNB
• BTC
• ADA
• LINK
• DASH
• EOS
• ETC,
• ETH
• FIL
• LTC
• DOT
• MATIC
• XRP
• SOL
• XTZ
• UNI

Moreover, there are 59 different fiat currencies in use today.

Payment Methods

Electronic funds transfers, Visa/ Mastercard credit/debit cards, and cash deposits are all acceptable forms of payment (limited to a specific area).

Bybit is a decentralized platform for exchanging one cryptocurrency for another. They consist of services like Simplex, Moonpay, Mercuryo, and Paxful.

Transaction Fees

Bybit’s low, trader-friendly fees are a significant selling point. Only members of the VIP or Bybit Loyalty program are eligible to get the program’s perks, which were just recently introduced. Taker and maker fee rates vary between Spot Trading and Perpetual & Futures Trading, as shown in the screenshot below:

Withdrawal Fees

In order to withdraw funds from Bybit, you’ll need to pay a withdrawal charge. Even though they go by a few different names, such as network or miner fees, the cost of making a withdrawal is not constant. Withdrawal costs are calculated independently for each cryptocurrency.

You can find them in the table down below:

Deposit Fees

There are zero deposit fees when using Bybit to buy and sell cryptocurrency.

Verification Requirements

Bybit’s traders must undergo KYC verification to meet the platform’s high-security standards.

During the verification procedure, users must have a government-issued form of identification from their home country (passport, national ID card). Users who want to withdraw more than 2 BTC each day will need to complete their KYC verification.

Customer Support

Bybit provides the following methods of contact:

• Customer Support [email protected]
• IT Support [email protected]
• Affiliates [email protected]
• Media [email protected]
• Partnerships [email protected]

In addition, Bybit provides a comprehensive learning environment named BybitLearn. Anyone interested in Cryptocurrency and Trading can get more information here.

ByBit vs WhiteBIT are two competing cryptocurrency exchanges, and the professionals at Traders Union have compared their services in a number of ways.

Conclusion

According to the findings of our Bybit review, this bitcoin derivatives trading platform is both dynamic and efficient, and it offers a one-of-a-kind set of features. In addition, it is considered among the most reputable cryptocurrency exchanges anywhere in the globe. Bybit is a transparent, safe, and secure cryptocurrency.