One of the most well-known and outstanding crypto trading platforms in the crypto market is Bybit. This is a high-end trading platform that is a peer-to-peer trading platform based in Singapore. This exchange stands out among other crypto trading platforms for several reasons. If you are new to the crypto space and want to use this platform then you should know the details mentioned in this brief review so you can get a good idea of what this platform has to offer.
Doing a proper research before choosing an exchange is the best practice for every crypto investor and trader, regardless of the platform they want to use.
Knowing as much as possible about a platform can help every novice party in determining how suitable and secure the exchange is for them.
Therefore, here are some of the most prominent features of the Bybit exchange that are important for you to know.
Bybit is a Powerful Platform
This crypto trading platform was founded in 2018 by Ben Zhou. The team working behind the platform comprises some of the most impressive members and co-founders. The exchange was launched in Singapore but has also extended its services to Hong Kong.
This exchange is better than its competition for several reasons, one of which is that it has the highest trading engine capacity, which is 100,000 transactions per second (TPS).
If you are interested in knowing more about the platform read below.
Various Order Types Supported
The Bybit exchange is one of the best platforms out there. It is a high-end trading platform that offers support to some of the most impressive features such as supporting various order types. These include the basic and advanced order types.
The basic order types supported by the Bybit platform include:
- Conditional Order
- Market Order
- Limit Order
The advanced order types supported by the exchange are:
- Immediate-or-Cancel (IOC)
- Good-till-Cancelled (GTC)
- Fill or Kill (FOK)
Impeccable Customer Support
One of the most prominent positive points of the Bybit exchange is its customer support services. This exchange aims to make crypto trading easier for every user, which is why, it offers the best customer support services.
The customer service agents are not only experienced but are also available around-the-clock to assist the users in case of any emergency, query or concern. The agents never delay a response and are easily accessible to the users.
Bybit Provides Top-Notch Customer Support
One of the exchange’s standout characteristics and one of the main reasons a large audience chooses to use it to trade crypto assets is the customer support services it provides. The consumers are provided with excellent customer assistance that is available 24/7.
The customer service representatives are knowledgeable and quick to help customers. The customer service staff attempts to make cryptocurrency trading as pleasant and hassle-free as possible and is accessible and easy to get in touch with.
Knowing the details of Bybit fees is yet another major aspect that needs to be properly explored by the interested parties before they use the platform. This is a good practice that should be followed by every investor or trader for every exchange they want to use.
This is because the fee charged by an exchange is not always fair and transparent and some platforms include hidden or additional charges as well. Such a platform may not offer the best security services, therefore, you need to be sure that the exchange you opt for has a fair and transparent fee structure.
Fortunately for Bybit enthusiasts, this exchange has a fair and transparent fee structure. It is also one of the lowest fees in the industry.
The details of the fee charged by the exchange are mentioned below.
- Funding rate: 0.02% / -0.02%
- Trading fee for market makers: -0.025%
- Trading fee for market takers: 0.075%
- Withdrawal fee: 0.0005 BTC
Data Analysis Tools
The Bybit exchange has made its mark in the crypto trading community, due to the services, features and high-end tools it offers to the traders.
This exchange also features data analysis tools that are highly beneficial for the traders and give it a boost among traders in the community.
The data analysis tools supported by the exchange include:
- Rolling volatility
- Monthly price range
- Daily realized volatility
- Price moving averages
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User Interface of the Exchange
Bybit is an advanced trading platform that aims to make crypto trading easier and convenient for all interested parties, which is why it has a highly user-friendly interface.
The user experience it offers is better than most other platforms, which is also why it is quite popular among the traders. It is easy to navigate and offers a hassle-free experience of trading crypto.
Mobile Trading Application
This exchange has taken crypto trading to the next level by offering convenience to active traders and the traders who want to trade crypto while on the go. For this purpose, the platform has created a mobile trading application.
It is available for Android and iOS and has a good functionality. The mobile application has been designed to make crypto trading easier and has good features. It is the best way for people to trade while on the go.
With the help of your Bybit mobile application, you can monitor your trading positions even if you have a busy schedule.
- It enables order administration.
- Advanced charting.
- Trade monitoring.
Bybit distinguishes itself from other cryptocurrency exchanges by its features and services, including the degree of security. People should not ignore the exchange’s safety when looking for the greatest one, which is another important consideration.
Selecting a safe cryptocurrency trading platform can assist inexperienced parties in avoiding pointless barriers and security dangers. Although none of the platforms on the market can guarantee total security, the best ones that employ cutting-edge security mechanisms greatly reduce the dangers.
One of the safest platforms on the market, the Bybit exchange places a high priority on consumer protection.
People who are interested in trading crypto assets can consider using Bybit. However, if you want to use this exchange then you should know the details mentioned above first.
There are several cryptocurrency exchanges that enable crypto trading, but Bybit is one of the more notable ones. You should be well familiar with the exchange’s specifications as a potential user.