Bybit, one of the fastest growing cryptocurrency exchanges, has been in the news a lot lately. Also for the right reasons. For example, on August 18, the company opened registration for the 2021 edition of the annual World Trade Series (WSOT). This year’s competition has a 4.9 times higher prize pool.

And then, early last week, he struck a sponsorship deal with leading eSports team NAVI (Natus Vincere).

point is, whether it’s the frequent additions of new trading pairs, new partnerships with key industry players, or the various schemes designed to attract new users, Bybit is clearly on a mission to push the frontier of cryptocurrency, with the ‘goal of firmly anchoring its place among the big names in the crypto space. And for that to happen, the exchange is increasingly focusing on projecting itself into the easiest-to-use trading venues it can find.

In a recent interaction with BeInCrypto, the exchange highlighted seven key factors that it believes are worth Bybit one of the most trusted and convenient exchanges for new and experienced users. You may want to consider these points if you plan to switch to a new exchange at any time:

Smart trading system

Bybit promotes its local smart commerce system as the best in the industry. It enables traders to quickly profit, change their orders, and receive personalized strategy alerts. ability to set Take Profit / Stop Loss on entry is another great advantage regardless of your experience level.

depth of the market is also relatively greater than that of most of its competitors, meaning that every trade is done in the metaphorical blink of an eye with minimal price impact. smart trading system is also backed by a matching 100K TPS Engine, ensuring you don’t have to break a sweat from system overloads.

Based on our first evaluations, Bybit also has a fairly accurate track record when it comes to service availability. company promises 99.99% uptime, which is said to be guaranteed by its gray release feature and hot patches released on the fly.

pricing system also seems fairly balanced. In particular, with the platform’s double pricing mechanism, you don’t have to worry about unfair liquidations.

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If you like high frequency (HFT) trading, you will probably appreciate Bybit’s API, which sends market data at lightning speed and updates every 20ms.

Quality customer service

Bybit is quite active and generally constant 24/7 Customer Service team that you can contact at any time, seven days a week. And the best part is that the team is multilingual, offering support in 11 languages, including English, Russian, Japanese, Korean, Simplified Chinese, Traditional Chinese, French, German, Indonesian, and Vietnamese, Thai.

Help section on the Bybit website has detailed guides to answer some of the most frequently asked questions. If these guides do not answer your questions or complaints, you may choose to speak with a customer service executive for immediate solutions.

Speaking of quality support, the Bybit site also hosts a dedicated Learning section where users can go to learn about cryptocurrencies, trading, and the platform itself.

Spot trade with zero manufacturer commissions!

In July 2021, Bybit first introduced spot trading on its platform. spot market allows you to place limit, market and conditional orders on all supported cryptocurrencies and tokens.

To incentivize users to switch to its spot market, Bybit has waived manufacturer commissions entirely by maintaining a competitive rate for buyer commissions.

Bybit: a popular destination for crypto derivatives trading

Since its launch in 2018, Bybit has rapidly climbed the charts to secure a place in the Big-4 of crypto derivatives trading. exchange backs its inverse perpetual, linear perpetual and futures contracts with the best liquidity in the market.

Bybit derivative products include:

• Reverse perpetual contracts in BTC / USD, ETH / USD, EOS / USD and XRP / USD.

• Inverse futures on BTCUSD0924, BTCUSD1231, ETHUSD0924 and ETHUSD1231.

• USDT perpetual contracts in pairs, including BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, BCH, LTC, and SOL.

With $ 7 billion in daily trading volume, Bybit is now among the most popular destinations for cryptocurrency futures contracts.

Cloud mining

Bybit added cloud mining to its portfolio of services in May 2021 with the launch of an Ethereum cloud miner. Since its launch, the relatively low admission price of $ 100 AND flexible plans of 7, 21 and 42 days later, have attracted the attention of many existing and aspiring cloud miners.

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It’s easy to get started with Bybit’s cloud mining product. You just have to subscribe to Bybit using your email address and go to the cloud mining section. Here you will find several mining setups to choose from.

Choose the one that suits your needs, make the payment and that’s it. Your personal cloud miner wakes up almost instantly and starts mining.

For more details, see the detailed BeInCrypto review of the Bybit Ethereum cloud miner.

DeFi Mining

Bybit also launched a DeFi mining service last month. At press time, it only supports the Curve Finance protocol, but the exchange has promised to add more to this platform in the coming months, including dual asset mining.

In case you weren’t aware, Curve Protocol appears to be one of the most popular Automated Market Maker (AMM) platforms, designed for trading low-commission, low-slip-rate stablecoins.

You can start with Bybit DeFi mining by storing funds on the exchange, which will then be reused for cash extraction through Curve Finance. In return, you will receive the Curve Governance Token (CRV) and earn a portion of the transaction fees. Bybit will also help you sell freshly mined tokens on the open market. All your cash withdrawal refunds will be automatically deposited into our Bybit account.

Bybit offers a $ 600 welcome package for all new users. You can redeem this bonus in the Rewards Hub by participating in simple activities such as following one of Bybit’s social media accounts, making a certain deposit amount, or making a new trade worth $ 100 or more.

Additionally, the exchange has an exciting referral program that rewards you every time a new user who meets certain criteria joins the platform with their unique referral code.

Each time you run a success report, both you and your friend have a chance to win an unlimited number of reward cards. This includes receiving a $ 500 Bonus when your friend places their first trade on the platform.

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Please note that this is a limited time offer and you can find more details about the referral program. here.

So as you can see Bybit is really bringing a lot in lately to both new and existing users. As we suggested in our previous exchange review, Bybit is an increasingly popular mid-tier cryptocurrency exchange with a sizeable user base and a clean track record so far.

refore, if you plan to switch to a new trade in the short term, Bybit is definitely an option worth considering.

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is strictly at your own risk.

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