Bybit review: Best Cryptocurrency Exchange According to Traders Union

Are you wondering which crypto exchange is best? Which crypto exchange should you choose? And if bybit exchange is worth the hype? Here in this article we will give you a complete review of Bybit and if it’s a good option according to traders union.

Bybit:

Bybit is a cryptocurrency exchange established in 2018. It is AStandalone Company with overall rating of 9.6 and leverage rate of upto 100.

This crypto exchange has different advantages related to technological advancements:

• Providing mutual insurance to market participants.
• Offsets for long and short positions.
• Market depth is present.

Advantages:

According to traders union here is a list of advantages of bybit:

• You have an order book that will let you access the depth of market and trading volume.
• Minimum deposit available.
• Trading platform is convenient and can be used in the browser easily.
• You can easily open long and short positions.

Disadvantages:

Few disadvantages listed by trader unions are as follow:

• Lack of mechanism in controversial issues.
• No mechanism for classical trading systems.
• Trading conditions for the future are quite difficult for beginners.

Investment programs of bybit:

Their trading conditions are not designed for investment programs. Providing your exchange policy for active trading. Traders are divided into takers and makers which upto some extent is investing.

Maker/Taker Program:

What are makers?

They are the makers of the market who provide liquidity to the market. Pending order stays in the market providing taker order which absorbs liquidity. Their trading commission is low.

For eg- they can increase the market depth of the order book. They make lower fees than takers. Bybit offers 0.015 market maker fees.

What are Takers?

On the other hand, takers remove liquidity from the market. They place market orders and pay higher commission for every trade to remove liquidity.

Actually the Maker/Taker Program divides traders in classes depending on ordering policy.

Factors that determine you as maker or taker:

There are certain factors that determine whether your order is considered as taker or maker. To simplify this you must know that:

• Market order are always taken as taker order
• Limit order can be taken as marker order or taker order.

Affiliated program of Bybit:

Each partner will get upto 30% commission from referral exchange. You will get a reference link after registering as a partner. You can even get upto 10% of affiliated earnings by building a multi level referral network.

Some benefits of affiliated program:

• You will get a commission.
• Source of passive income for you.
• Help companies to grow in the market.

Trading conditions by bybit:

Here are few trading conditions of Bybit which you must know:

Account Currency:

Bybit account currency is cryptocurrency.

Minimum deposit:

Bybit will provide you with a minimum deposit of $1. Which is quite affordable and convenient for everyone.

Customer Support:

It provides you 24/7. Which is very important, you can get guidance every time of the week.

Instruments:

Bybit uses the following instruments to make their users’ trading experience good.

• BTC/USD
• ETH/USDT
• ETH/USD
• EOS/USD
• BTC/USDT
• USDT pairs
• XRP/USD
• LTC/USDT
• XTZ/USDT

Leverage:

You will get leverage rate upto 1:100.

Trading platform:

Use Proprietary platform powered by TradingView as a trading platform.

Bybit Vs Bitget:

Are you confused between Bitget vs Bybit? Here is a complete comparison table between them.