- Wide range of coins: Supports a large variety of cryptocurrencies.
- Low trading fees: Competitive fees, attractive for active traders.
- Advanced trading features: Offers margin trading, futures, staking, and lending.
- User-friendly interface: Easy to use, with a comprehensive mobile app.
- Strong community support: Active community and regular promotions.
- Regulatory concerns: Not fully regulated in all jurisdictions.
- Customer support: Reports of slow and sometimes unresponsive customer service.
- Fiat support limitations: Limited options for fiat deposits and withdrawals.
Bybit cryptocurrency exchange is one of the popular and rapidly growing platforms in the field of cryptocurrency trading. With a variety of advanced services and features, Bybit has attracted the attention of many investors and traders around the world.
In the article below, AZCoin channel will provide you with detailed information about this exchange, from its founding history, transaction coins, to outstanding features and safety level when using the exchange.Bybit
What year was Bybit established?
Bybit was founded in 2018 by a group of finance and blockchain technology experts. This exchange was born with the goal of providing a safe, fast and convenient cryptocurrency trading platform for users.
In a short time, Bybit has rapidly grown and become one of the largest cryptocurrency derivatives exchanges in the world. The exchange operates mainly with headquarters in Singapore and serves millions of users globally.
Is Bybit Exchange licensed?
Bybit is licensed by many reputable financial management agencies such as the Digital Asset Management Authority, Dubai; Cyprus Securities & Exchange Commission; Astana Financial Services Authority, Kazakhstan.
Besides, Bybit operates as a global trading platform and complies with the legal regulations of the countries in which it provides services. However, Bybit licensing depends on each region and country. This means that users need to check the legal regulations in their country before using Bybit.
What coins are traded on Bybit?
Bybit is well-known for offering cryptocurrency derivatives, especially perpetual futures contracts. The exchange allows trading of various popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, and many others. Bybit also regularly updates its list of cryptocurrencies to meet user demand and market trends.
Outstanding Features of Bybit Exchange
Bybit attracts users not only with its diverse range of cryptocurrencies but also with its standout features:
- High leverage trading: Bybit allows users to trade with leverage up to 100x for futures contracts, maximizing profit potential in short-term trades.
- Fast and stable trading platform: With advanced technological infrastructure, Bybit can process hundreds of thousands of transactions per second, ensuring that trade orders are executed quickly and accurately.
- Insurance fund: Bybit provides an insurance fund to compensate for potential losses in liquidation cases. This helps protect users from severe market fluctuations.
- Referral program: Bybit offers attractive referral programs where users can earn commissions by referring friends or family to the platform.
- User-friendly interface: Bybit’s user interface is designed to be intuitive and easy to use, making it accessible to both beginners and experienced traders.
Advantages of Bybit Exchange
Bybit has several outstanding advantages that make it a top choice for traders:
- High liquidity: With a large daily trading volume, Bybit ensures high liquidity, making it easy for users to execute trades at the best prices.
- Top-notch security: Bybit employs advanced security measures such as two-factor authentication (2FA), SSL encryption, and cold storage for assets to protect users’ funds.
- 24/7 customer support: Bybit offers 24/7 customer support with a professional team ready to answer any questions and assist users.
- Seamless trading: Bybit can handle hundreds of thousands of transactions without experiencing order congestion, ensuring a smooth trading experience for users.
Is Bybit Safe?
Safety is one of the most critical factors users consider when choosing an exchange. Bybit has demonstrated a high level of security through the implementation of stringent security measures. All user assets on Bybit are stored in cold wallets, with only a small portion kept in hot wallets for daily trading purposes. This helps minimize the risk of external attacks.
Moreover, Bybit regularly conducts security audits and updates its system to ensure that its platform remains in the safest possible condition.
Conclusion
Bybit exchange is one of the best cryptocurrency exchanges today. With advanced trading features, high liquidity, and leading security measures, Bybit has been asserting its position in the global cryptocurrency market.
Whether you are a new or experienced trader, Bybit provides the tools and services you need to trade effectively and securely. Please register for a Bybit account via the link we introduce to receive free transactions.
