Bybit is a cryptocurrency exchange that offers a professional platform featuring an ultra-fast matching engine, excellent customer service and multilingual community support for crypto traders of all levels. Established in March 2018, Bybit currently serves more than 10 million users and institutions offering access to over 100 assets and contracts across Spot, Futures and Options, launchpad projects, earn products, an NFT Marketplace and more. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
What is Bybit?
Bybit is a prominent centralized cryptocurrency exchange (CEX) that stands out with its professional platform, featuring an ultra-fast matching engine, dedicated customer service, and multilingual community support. Established in March 2018, Bybit boasts a user base exceeding 10 million, serving both individual users and institutions. The platform provides access to a diverse range of assets and contracts across Spot and crypto derivatives, including Futures and Options. Additionally, Bybit offers launchpad projects, earn products, an NFT Marketplace, and more.
Bybit's Notable Partnerships:
Bybit proudly aligns itself with Formula One racing team Oracle Red Bull Racing, esports teams such as NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports. Furthermore, Bybit extends its support to association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
Product Offerings on Bybit:
Bybit's platform encompasses a diverse array of products, including Spot trading, Derivatives (featuring USDT perpetuals, USDC perps, inverse perps, futures, USDC options, and leveraged tokens), NFT marketplace, Bybit Earn, Buy Crypto, and Options.
Founder and CEO:
Bybit was founded by Ben Zhou, who currently serves as the CEO. A graduate of The University of Pennsylvania, Zhou brings a wealth of experience from his seven years at XM, one of China's largest forex brokerage companies.
Launch Date:
Bybit officially launched in March 2018.
Geographical Presence:
Registered in the British Virgin Islands as Bybit Fintech Limited, Bybit's headquarters are situated in Dubai, UAE, under Bybit Fintech FZE.
Restricted Countries:
While Bybit caters to a global audience, it is restricted in certain countries due to service limitations. Notable exclusions include the U.S, Singapore, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, and Mainland China.
Supported Cryptocurrencies:
Bybit hosts over 100 cryptocurrencies, facilitating over 300 spot trading pairs. Major coins such as BTC, ETH, BIT, SOL, APE, DYDX, LTC, DOGE, AVAX, MATIC, DOT, and more are supported.
Fee Structure:
Bybit employs a tiered fee structure based on the maker-taker model. Fee tiers include non-VIP, VIP 1-3, and Pro 1-3, with varying rates for spot trading, perpetuals, and futures trading.
Leverage and Margin Trading:
Bybit offers traders the ability to engage in leveraged trading, with options of up to 100X leverage on various crypto derivatives products. Users can utilize both isolated margin and cross margin. The platform supports Inverse perpetuals, crypto futures, crypto options, and leveraged tokens.
What are the trading fees on Bybit?
Bybit's trading fees are contingent on your membership level and the nature of your trading activities. Membership levels are determined by your asset balance and 30-day trading volume. In summary, contract trading fees for takers range from 0.06% to 0.01%, while makers enjoy fees ranging from 0.01% to 0.00% (i.e., free). Spot trading fees for takers range from 0.10% to 0.02%, and makers benefit from fees ranging from 0.10% to 0.00% (i.e., free).
Regarding Bybit withdrawal fees, when users withdraw BTC from the platform, they are charged 0.0005 BTC per BTC withdrawal. This aligns closely with the prevailing global industry average of 0.0004599 BTC per BTC withdrawal.
Does Bybit offer leverage trading?
At Bybit, trading with leverage is enabled, providing the opportunity to amplify your exposure to the price movements of a specific cryptocurrency without the need to own the full amount of assets. This is achieved through the practice of 'leveraging' your trades, essentially borrowing funds from the exchange to increase your position size. In simpler terms, it allows you to bet with more capital than you actually possess. Bybit offers leverage options of up to 100x, allowing users to potentially magnify both gains and losses.
Is there a research audit report for Bybit?
Is Bybit safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
