Bybit is the fourth largest crypto exchange, after Binance and Kucoin. It is a young platform that uses all the best ways to make itself known: giveaways, paid affiliate programs… The exchange offers an intuitive and innovative trading experience. Let’s find out in detail why this crypto trading platform has carved a great place among the best crypto platforms.
What is Bybit?
Bybit is a platform of trade online, specializing in the exchange of cryptocurrencies. Launched in 2018 and established in the British Virgin Islands, the exchange has been able to diversify its offerings, and over time, the platform now has more than 10 million of users.
In addition, Bybit does not have was never attacked in terms of hacking, which marks a point of trust for its security. However, an accident is always found.
Thanks to an “academy” section and very accurate tools, Bybit is also suitable beginners rather than experienced traders.
For casual traders, no KYC (Identity Verification) is required.
In general, Bybit offers the same features as Binance. Many cryptocurrencies are considered within the platform of many blockchains, and the advantage is that there is very low cost of transactions.
The services offered by Bybit crypto
The tools developed by the exchange to grow your portfolio are interesting, including excellent returns in some shares.
On the homepage, we see:
- The sections deposits in crypto and FIAT;
- buy crypto simplified ;
- Peer-to-peer trading (P2P);
- All the options of trade: towardeffect of the sink up to x100…
- the Launchpad ;
- the launch pool.
The Bybit Launchpad
To access this feature, you must validate KYCidentity verification.
To attract customers and create visibility, Bybit offers special events, called Launchpads. By participating, it becomes possible earn cryptoin this case the associated sign.
Bybit generally schedules Launchpads twice a month. Selected projects make it possible to have guaranteed performance and benefit from itsignificant capital gains at the time of listing.
In addition, to use it, you must have BIT, the token of the platform, in your SPOT or EARN wallet. The current minimum participation amount is 50 BIT, which corresponds to approximately 20 euros.
The Launch Pool
Bybit’s Launchpool is simply reward stacking. Stacked tokens can be removed at any time, without blocking. When cryptos are stacked, Bybit calculates the return based on the value, which is refreshed daily. Then the owner is paid as a percentage of the same crypto.
The daily return depends on the amount of tokens staked in each pool in proportion to the total amount of tokens staked in each pool by the respective participants. Once the staking is done, the daily return is automatically calculated.
Derivatives trading and spot
The platform offers three main types of contracts on its derivatives trading platform:
- the reverse perpetual contracts perpetual contracts using FIAT currency as collateral.
- the perpetual USDT contractperpetual contracts that use USDT as collateral.
After that, Bybit also offers trading on toward. Unlike futures trading, you are allowed to trade traditionally.
In addition, Bybit also offers trading on MetaTrader 4, a unique feature for a crypto exchange. The platform has set up a referral program, to receive 30% commission.
P2P trading
Bybit offers a feature since early 2022, peer-to-peer (P2P) trading. The option allows users to buy and sell their assets with each other in a best price.
Bybit’s P2P trading currently supports various currencies and 3 cryptos. More than 300 payment methods are available.
To access this feature, you must have completed the Level 1 KYC. It is possible to become an “advertiser”, which concretely consists of selling cryptos, and the more sales, the more chances to get. premiums addition.
BIT crypto, the token of the Bybit exchange
Like Binance with BNB, Bybit has its own management token: BIT!
BIT is the native token of BitDAO, one of the largest Decentralized Autonomous Organizations (DAOs) in the world whose goal is to allocate a large number of skills and vast resources to support the growth of DeFi.
Users who hold tokens BIT will be able to vote on the various proposals all aimed at protocol developmentas:
- Stack your BITs to participate Launch pad ;
- Updates DAY from protocol.
- Integration of new features.
- Reduction of costs in Bybit.
This cryptocurrency has great importance within the platform. This is because BIT is used to pay transaction fees and other actions.
Bybit offers trading convenience for professionals to beginners. To date, the platform occupies the 4th place in the ranking of the best exchanges.
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