Learn about ByBit Exchange and receive special Gifts from Finlaunch

Bybit is a reputable cryptocurrency exchange established in 2018, with its headquarters located in Dubai (UAE). Managed by a team of industry experts, Bybit continuously enhances user experience with low trading fees, high security, and a range of trading support features.

Bybit primarily focuses on derivative products, listing over 800 cryptocurrencies and offering various trading types such as futures, perpetual contracts, and options with up to 100x leverage.

Key Features of Bybit​

Bybit is committed to developing support tools to help users optimize their strategies and improve trading results. Some notable tools include:

• TradeGPT: A tool for analysis and trading advice.
• Copy Trading: Allows users to follow and replicate strategies of top traders.
• TradingBot: Supports automated trading based on preset strategies.

Additionally, Bybit offers the Bybit Learn platform, where users can find articles and guides from beginner to advanced levels about the crypto market.

Basic Information About Bybit​

• Exchange Name: Bybit
• Service: Cryptocurrency exchange
• Established: March 2018
• Founder: Ben Zhou
• Headquarters: Dubai, UAE

Pros and Cons of Bybit​

Pros​

1. Diverse Features: Bybit offers a rich ecosystem with products such as lending, derivatives, margin, trading bot, TradeGPT, copy trading, etc. Users can trade with leverage up to 100x.
2. Bybit Testnet: Provides a simulated trading environment, allowing new users to test strategies without using real assets.
3. 24/7 Customer Support: Bybit’s support team is always available to help users resolve any issues quickly.
4. Affiliate Program: Users can earn commissions by referring friends and family to Bybit.
5. Low Trading Fees: A maximum fee of 0.055% for contract trades and 0.1% for spot trades.
6. Bybit Learn: Provides knowledge from basic to advanced levels about the crypto market, helping users enhance trading knowledge.
7. Trading Support Tools: Bybit offers various tools to help users create effective strategies, such as Copy Trading, TradeGPT, and TradingBot, with a user-friendly interface and optimized trader filters.
8. Diverse Financial Products: Users can optimize capital through products like Lending, Crypto Loans, and other earning opportunities such as Liquidity Mining, Bybit Savings, and Launchpool.
9. Web3 Products: Bybit also develops Web3 products like Bybit Wallet, ApeX (DEX), and NFTs, enabling users to participate in DeFi activities.

Cons​

1. No OTC Trading Support: Bybit does not currently offer OTC trading like some other exchanges.
2. Complex Interface: Bybit targets professional traders and focuses on derivative products, which can make the interface challenging for beginners.
3. No Native Coin: Bybit has not issued its own coin like Binance’s BNB or OKX’s OKB, which limits benefits like trading fee discounts or participation in special programs.
4. Geographic Restrictions: Bybit restricts operations in many countries, including the US, China, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, and others.

Fees on Bybit Exchange​

Bybit applies different fees based on trading and withdrawal activities. Below are details on the types of fees users may encounter on Bybit:
1. Withdrawal Fees:

• For on-chain withdrawals, the fee depends on the withdrawal amount, token type, and network used. This fee covers the gas fees for the blockchain network.
• Internal transfers between Bybit accounts do not incur any fees.

2. Derivatives Trading Fees:

• For derivative contracts, the maximum fee for Makers is 0.02% and for Takers is 0.055%.

3. Spot Trading Fees:

• For spot trading, both Makers and Takers pay a fee of 0.01%.

4. Options Trading Fees:

• For options trading, both Makers and Takers incur a fee of 0.03%.

Note: Users can find more details about Bybit’s fee policies on the official website’s dedicated page.

Guide to Registering a Bybit Account​

To experience Bybit’s services, follow these simple registration and verification steps:

Preparation Before Registration​

Before starting, prepare the following information:

• Valid email address.
• Phone number.
• Identification documents such as an ID card, passport, or driver’s license.

Registration Steps​

1. Visit Bybit’s registration page.Register Bybit Account
   
2. Select registration method: Use email or phone number.
   • If registering with email, fill in the required information such as:
     • Email address.
     • Password.
     • Agree to Bybit’s terms of service and privacy policy.
3. Receive verification code:
   • Bybit will send a 6-digit verification code via email. Enter the code to complete registration.

Identity Verification (KYC)​

To comply with security regulations and ensure account safety, Bybit requires identity verification:

1. Download Bybit’s mobile app and log in to your new account.
2. Select Identity Verification in the account section and proceed with verification.
   • Select country, document type (e.g., ID card), and follow instructions to upload personal documents.
3. Take a recognition photo: Capture front and back of ID card, then provide a portrait.

Verification typically takes around 1 hour to complete.

Enable Two-Factor Authentication (2FA)​

To enhance account security on Bybit, users should enable two-factor authentication (2FA):

1. Download Google Authenticator on your phone and log in to your email account.
2. In the Bybit account section, select Security and enable Google 2FA Authenticator.
3. Enter the 6-digit verification code from Google Authenticator into Bybit to complete.

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