Bybit is one of the world's largest cryptocurrency exchange for derivatives and spot trading. Their platform offers hundreds of digital assets to trade against fiat and cryptocurrency pairs like USDT or BTC.
The platform offers many features such as staking, launchpools, launchpads & they recently launched their own NFT marketplace. In this research report we breakdown their full suite of features including spot trading, futures trading, cryptocurrency staking and much more.
- Trade over 770 Cryptos with up to 100x leverage.
- Low trading fees starting at 0.01% Maker Orders and 0.06% Taker Orders.
- Secure and trusted trading platform with over 18 million users worldwide.
Bybit Features Overview
The Bybit trading platform is one of the most feature-rich exchanges in the world. They are highly regarded for their Spot and Futures Trading markets where they have hundreds of cryptocurrencies available to trade 24/7 with deep liquidity and very low fees. The most popular features on Bybit include, but are not limited to the following:
- Over 700 cryptocurrencies to trade with 100x leverage.
- Bybit does not require KYC, which means users can sign up with email and password.
- Lowest trading fees in the industry starting at 0.1%.
- NFT Marketplace, Launchpad, Staking and other digital asset features.
- High integrity team that is secure for digital asset custody.
Is Bybit Regulated?
Bybit, a registered company in the British Virgin Islands (BVI), is not currently regulated by any financial authorities. However, the platform ensures the security and integrity of user data and funds through various measures.
Bybit's security measures include SSL encryption to protect user accounts, a KYC system to enhance protection against money laundering, and an automated risk management system that constantly monitors its servers to prevent any malicious behavior or hacking attempts. Additionally, all deposited funds are stored in cold wallets and segregated bank accounts to ensure maximum protection.
These comprehensive safety measures and commitment to user security make Bybit a trustworthy platform, despite its unregulated status. While Bybit may not be regulated by financial authorities, its dedication to ensuring a secure trading environment for its users ensures a high level of trustworthiness.
Bybit Mobile App
The Bybit app is extremely easy to navigate and is available on both iOS and Android. The app allows users to make fast trades from their phones and access their portfolio. Additional to this, users can now access Launchpad and Launchpool projects directly from their phone.
Is Bybit Available in the United States?
Unfortunately, Bybit is yet to acquire the proper licensing to operate in the United States. However, if you are based in the United States and wish to use their platform, simply use a VPN to change your location. If you are based in the United States and use a VPN, make sure when/if you KYC that you don't use any identification documents issued in the United States.
To check if Bybit is available in your country, please visit their Restricted Countries page.
Bybit has some of the lowest trading fees among centralised cryptocurrency exchanges starting from 0.01% and go up to 0.5%. Their platform has many features so there are different fees for all of their products, for a full breakdown of their fees, please visit their Bybit Fee Structure page.
Bybit Launchpad & Launchpool
All Launchpad and Launchpool projects are designed to allow their users early access to a token (pre-list price) before it lists on Bybit. Giving users the opportunity to invest in a token at a fraction of the price it will list at on Spot.
Bybit's Launchpool feature allows users to stake BIT and/or the new token to earn BIT, the new token and USDT bonus simultaneously. For a full breakdown on how the yields are calculated, please visit Bybit's Launchpool FAQ page.
Bybit's Launchpad feature is a token launch platform for new blockchain projects. It allows users access to pre-listing rounds and allows them to earn new tokens directly on Bybit. For a full breakdown on how to participate, please visit Bybit's Launchpad FAQ page.
Can I stake Crypto on ByBit?
Bybit has a few staking options to choose from, their most popular option is their Flexible Staking. Flexible Staking allows users to stake tokens and earn guaranteed yields in the same type of tokens with a high APY (Annual Percentage Yield). The yield will be auto deposited daily to users accounts, and the staked tokens can be unstaked at anytime.
They currently offer Flexible Staking on ETH, BTC, USDT, USDC AXS, AVAX, LUNA, DOT, SOL, MATIC, ATOM, FTM, SHIB, BUSD, DAI, MV, BIT, POSI, ACH & ERTHA. For the full yields (returns), please visit their Flexible Staking page.
Dual Asset Mining
Additional to Flexible Staking they have Dual Asset Mining, Dual Asset Mining allows users to stake their preferred assets and lock them in an attractive yield via liquidity provision. The earlier you start staking, the higher the your returns will be. They currently offer staking on 22 different pairs, to find out which pairs are supported, please visit their Dual Asset Mining page.
And lastly, they offer Defi Mining which is a DeFi automated market maker project that provides stable currency exchange services. By providing liquidity to Curve smart contracts, users can obtain capital pool revenue. At the same time, they can also obtain additional revenue from its token (CRV).
Bybit Deposit Methods
Bybit has three deposit methods available when depositing FIAT currencies. Please note that Bybit does not handle fiat deposits directly and this service is handled completely by third-party payment providers: Banxa, XanPool, MoonPay, Mercuryo, Paxful and Simplex.
Users can deposit the following FIAT currencies AUD, BGN, BRL, CAD, CHF, COP, CZK, DKK, DOP, EGP, EUR, GBP, HKD, HRK, IDR, ILS, INR, JOD, JPY, KES, KRW, KWD, LKR, MAD, MXN, MYR, NGN, NOK, NZD, OMR, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TWD, UAH, USD, VND, ZAR, ARS, AZN, CLP, CRC, GEL, HUF, KZT, MDL, NAD, UYU, QAR, SAR, AED, and UZS.
For a full guide on deposits, please visit their How to Make a Deposit on Bybit page.
Bybit NFT Marketplace
Bybit has recently launched their NFT Marketplace where users can invest in NFTs — digital art, collectibles and those of GameFi and the metaverse, and more — without the extra fees that OpenSea or Rarible would charge (gas/transaction fees). Users can also make payments using the token the NFT is priced in, including ETH, USDT and BIT.
For a comprehensive guide on their NFT Marketplace, please visit their Introduction to NFT Marketplace page.
One of the key topics that is commonly talked about when mentioning Bybit is their bonus and rewards structure. Bybit has the most bonuses and rewards out of any exchange in the world. They are constantly rewarding their users for using their platform. From new sign up bonuses, referral bonuses, trading bonuses, quiz bonuses and social media bonuses.
They have new bonuses and rewards which they distribute and promote on their social media platforms. They have daily campaigns hosted on their Telegram, Discord, Reddit, Twitter and Youtube. The rewards start from $20 per person and go up to $50,000 depending on the campaign. Just last year they gave away a Tesla, multiple free iPhones and $1,000,000 in trading bonuses.
Bybit Token (BITDAO)
Bybit does not have an official token but they do contribute to BITDAO's treasury and the BIT token is utilised throughout their platform. Although technically BIT is not their native token, a lot of Bybits products require users to hold BIT to use their features. For example, users are required to hold BIT if they wish to participate in Bybits Launchpool and Launchpad projects.
Overall, Bybit is the best exchange for crypto-natives looking to get access to a full suite of products which include low-fee spot trading, futures trading, cryptocurrency staking and more. Their platform has quickly become one of the most popular destination for traders and investors around the world thanks to their simple user experience and breadth of features which supports a wide range of users.