What is Bybit : The Cryptocurrency Exchange and Trading Platform ?
Bybit is an exchange platform like Binance or Coinbase. Bybit allows you in particular :
- to buy crypto-currencies with your real money
- manage your assets via exchange markets (more than 200 tokens available for purchase)
- to access potentially highly profitable investments
- buy NFTs and participate in DeFi (decentralized finance)
Far from being the best known, it is a young and robust platform which has some major advantages: access to all the usual trading services, savings possibilities in staking, DeFi financing and access to a NFT market hosting many projects.
Bybit regularly organizes events: contests that offer rewards in the form of USDT vouchers.
What are the features of Bybit in detail ?
Bybit offers various and varied functionalities in cryptocurrency trading but also safer and long-term investments such as savings. Here is everything the Bybit exchange offers :
- a secure wallet
- spot trading
- leverage tokens
- derivatives markets
- a launch pad
- a savings section
- an NFT market
A secure wallet where you can simply deposit money
You of course have access to a so-called custodial wallet. That is to say that you are hosted by a platform and not directly owner of the wallet, which has its advantages and disadvantages.
The advantage of a custodial wallet is its simplicity of use and the fact of being able to deposit your euros simply.
Bank charges for the purchase of crypto are very low, you have access to express purchase by credit card at 0% or bank transfer (less than €1 fee for a SEPA transfer).
Simply deposit your cryptos
You can also deposit cryptos directly on it : like any self-respecting wallet, you have deposit addresses for each token supported by the Bybit platform and this on a wide choice of payment networks.
For more security, we strongly suggest that you activate two-factor authentication (via SMS or Google Authenticator)
Access to a panel of tokens in spot trading
You can buy or sell at very attractive rates : you are taxed between 0.01% and 0.1% of the trading volume at VIP rank 0 (decreasing according to your use of the platform and your VIP rank).
You will have access to :
- to Bit (BIT) the Bybit token. Like Binance it offers its own token
- to Bitcoin (BTC) and Ethereum (ETH) which can be called the bluechips (the most important)
- to most known projects in the top tokens of the market such as Ripple (XRP), Solana (SOL), Chainlink (LINK)
- to a selection of smaller tokens like CropBytes (CBX), 1inch Network (1INCH)
More than 200 spot markets are thus accessible, and the TradingView view is available with all the tools necessary for your analysis.
It is also possible to place buy orders (you buy if the price goes down to such an index) or sell orders (you sell when the price goes up to such an index).
Access to leverage tokens : try derivatives markets
You can participate in futures in x3 (on the rise or fall of a token) without risking a total loss of capital.
This functionality is not provided by all exchanges and it can be very appreciated to test oneself on the future markets without risking a loss of capital.
What is the crypto futures market?
Futures have been around for a long time in the standard economy :
- you bet up or down, the bigger the rise or fall, the more you win
- if it does not go your way your capital decreases until it disappears.
We are talking about leverage ranging from 3X to 100X on risky markets. Exchange platforms have been offering these services for a few years.
The tokens accessible in leverage on Bybit are Bitcoin, Ethereum, Ripple and Solana.
Participate in derivatives markets to multiply your gains
Bybit allows you to participate in derivative markets or also called futures. You bet up or down.
The possibilities in future markets are immense on Bybit, and make it one of its main assets.
Derivatives have high volatility and it is a high risk investment with possible loss of total capital. Only try if you understand what you are doing, your capital is vulnerable.
Bybit therefore provides access to the futures derivatives market on many tokens and this with a selectable risk between 3X and 100X.
Take part in the Bybit Launchpad : what will be the token of the future ?
Like other exchanges, Bybit offers a launchpad. The platform selects new projects with a high yield period before the official launch.
You will thus have access to a grace period where your new tokens will take for example 2000% APY during the first week (decreasing thereafter).
What is the APY?
You will often see rates such as : 600% APY and this over a week of staking.
APY stands for Annual Percentage Yield or the annual savings rate. 600% APY, for one week, it is therefore 11% gain over one week which is however not negligible!)
The launchpad is an opportunity for staking on new tokens. It’s up to you to see if you believe in these new projects !
The Earn section : simply save with Bybit
There are many options available to you when it comes to staking on Bybit :
- You can participate in simple placement: APY ranging from 1% to 50% on around fifty tokens
- You have access to dual assets (very popular possibility): you save on a pair of tokens
- Temporary offers (one, two weeks to 1 or 2 months) with APY up to more than 600%
- Liquidity Mining: highly profitable investments on flagship tokens
- DeFi Mining: up to 17% savings to ensure the loan or swap of tokens on DeFi markets
An exclusive NFT marketplace on Bybit
Bybit offers an NFT market where different projects can be accessed, collectibles, card game.
For example, we can see @MightyMeta a series of collectible drawings (starting at $100!) or even ULTRAMAN cards resembling a card game.
It’s up to you to explore the possibilities of NFTs !
What are the Bybit fees ?
If you want to buy cryptos directly with fiat currency, Bybit offers very low fees compared to other platforms :
- Less than €1 for a SEPA transfer
- Free with a credit card.
Fiat currencies are the regulated currencies that we know such as the Euro or the US Dollar.
The only other fees are on transactions (between 0.01% and 0.1%).
How to register on Bybit ?
Registration by email is very easy and you will have access to a Lite version of Bybit, we advise you to pass the KYC identity verification in order to unlock all the possibilities that Bybit can offer you.
As soon as you sign up to Bybit, you will be asked whether “you are new to” or “you are an experienced trader”. A different experience depending on your level. Of course, we recommend saying that you are a beginner in order to better understand how the Bybit platform works.
The platform will offer you tutorials and help articles (sometimes in English) and will guide you to get started in cryptocurrency trading.
Il ne vous reste plus qu’à ajouter des cryptos via les réseaux disponibles ou d’acheter des cryptos par carte bancaire ou virement directement à des taux très intéressants.
All you have to do is add cryptos via the available networks or buy cryptos by credit card or bank transfer directly at very attractive rates.
You can also sponsor your friends with a bonus of 20€ possible per referral! And gift cards via contests up to €1000!
Our opinion on Bybit ?
Bybit is a young exchange platform, it has interesting possibilities to promote !
The advantages of Bybit
- Simple to use;
- Low fees;
- More than 200 token markets;
- A very comprehensive range of derivatives markets;
- Leverage tokens: learn about derivatives;
- A wide choice of token staking savings;
- Temporary events and contests;
- An exclusive NFT market: collect and resell different items.
The disadvantages of Bybit
- The mobile application is not yet available on Google Play (to be installed manually);
- No bank card offer linked to the platform: you will have to transfer your tokens to another account to use them in everyday life.
Overall opinion on Bybit
Bybit is an interesting young platform in the making (a few missing features would be welcome!): in short, a very friendly exchange perfect for your savings and for testing yourself on derivative markets.