The Bybit exchange is one of the best crypto trading platforms in the industry. It is widely used and has one of the largest customer base, more than 1.6 million users, from all around the world.
This is a peer-to-peer (P2P) crypto exchange that was launched in 2018 and based in Singapore. As compared to its competition, the Bybit exchange offers impressive features and is even capable of handling the largest number of transaction per second (TPS). While other well-known platforms can handle 500 or 10,000 TPS, Bybit can handle 100,000 TPS.
All the orders are executed in a timely manner and without any delays or interruptions.
There is a lot more to this advanced trading platform that is important for every user to know. Therefore, if you are interested in buying or trading digital assets then you should know the details mentioned here in this Bybit exchange review.
Bybit Exchange Supports Copy Trading
A unique feature supported by the crypto trading platform is copy trading. This is a newly introduced feature that makes the platform even more accessible and popular in the trading community.
Copy trading allows the traders to select an experienced trader from a carefully formed list on the exchange. New traders or those who do not have enough time to monitor the markets and then place trades can choose an experienced trader and automatically copy their trades. This makes trading digital currencies easy and less stressful for a vast audience.
The customer support services offered by the Bybit exchange is impeccable and one of the biggest selling points of the platform. The exchange has a team of professional customer support agents who are not only knowledgeable but available to assist the users around-the-clock.
The customer support agents are multilingual and can be easily contacted by the users, thanks to the live chat feature supported.
Data Analysis Tools
This Bybit exchange review is brief but it sheds light on all the major attributes of the platform to highlight why it stands out among its competition.
The traders who use this exchange are majorly facilitated so they can have a convenient and stress-free experience of trading digital assets. Another benefit of using Bybit is that it supports data analysis tools that can be downloaded by the users as well. The tools are mentioned below.
- Daily Realized Volatility
- Monthly Price Range
- Rolling Volatility
- Price Moving Averages
The fee charged by the Bybit exchange is yet another prominent attribute that should be properly explored by every user of the platform.
You will be required to pay a fee, regardless of whichever exchange you choose. However, the amount you have to pay and its transparency can be in question.
A plus point of using Bybit is that if you use it to trade cryptocurrencies, you don’t have to worry about paying a high and unfair fee. This is because the fee charged by the exchange is not only one of the lowest but free of hidden charges as well.
Here are the details of the fee charged:
- Funding rate: 0.02% / -0.02%
- Market maker fee: -0.025%
- Market taker fee: 0.075%
- Withdrawal fee: 0.0005 BTC
For people who are interested in trading crypto quite frequently and even while on the go, the mobile application of the Bybit exchange is an amazing feature. The mobile app is available for Android and iOS users and has the same functionality as the desktop version. The traders are able to keep a track of their open trading positions, with the help of this mobile application.
Another highlighting aspect of the platform, mentioned in this brief Bybit exchange review is the availability of various order types. This is an important piece of information for people who want to trade digital currencies.
If you are a trader, then you should know the Bybit platform supports both basic and advanced order types.
The basic order types include:
- Limit order
- Market order
- Conditional order
The advanced order types include:
- Immediate-or-cancel (IOC)
- Good-till-cancelled (GTC)
- Fill-or-kill (FOK)
The Bybit exchange is an outstanding trading platform. It is in fact a crypto-to-crypto platform.
Impressively, the trading platform has more than 100 crypto tokens listed and more than 300 spot trading pairs available. Having a vast collection of assets is yet another reason why a vast audience is inclined to use the exchange for trading.
It supports some of the biggest and popular digital assets as well, some of which are:
The Bybit exchange is remarkable in terms of the features it offers, making crypto trading easier, convenient and hassle-free for the traders. This exchange is user-friendly and prioritizes the safety of the users. To determine if it suits your needs or not, you should know the information mentioned above before using it.