Bybit Baybit Inc. is a broker launched in March 2018 that allows users to trade perpetual derivatives contracts on cryptocurrencies with leverage up to x100. The headquarters is located in Dubai. Baybit offers forward and inverse perpetual contracts (BTCUSD, ETHUSD, XRPUSD, EOSUSD, BTCUSDT, etc.), options, p2p marketplace, NFT marketplace, DEX, Earn. Bybit cryptocurrency broker is among the top 10 platforms in terms of futures trading volume.
Our editors have studied the Bybit broker, which is aimed at users from all over the world and of different levels of education, offering a multilingual interface and technical support, a demo account, 24-hour operations of traders, efficient and fair trading, and an engaging environment. We offer an analysis based on personal observations and official information.
Official website: bybit.com
Now on the Bybit exchange, welcome gifts and rewards of up to 5,000 USDT are available after registration and completion of tasks (for making the first deposit, passing verification, trading in the spot and futures markets).
See the conditions on the website at Mediano de Bônus.
Bybit “Beginners Get Lucky” promotions are only for visitors to our website . We are partners with the Bybit broker and offer exclusive conditions. Instead of the standard 5,000 USDT bonus, you can receive up to 30,000 USDT.
Register on Bybit, make a deposit, trade and get up to 30,000 USDT. For $100 you will receive a bonus of 3 USDT, and for subsequent ones, depending on the volume, rewards of up to 30,000 USDT are provided (to receive the maximum bonus of 30,000 USDT, you need to deposit at least 250,000 USDT and earn a trading volume of at least 150 million USDT). Only new users who registered on Bybit through our subordinate affiliate link or entered the ref code 2305 can participate in the promotion.
Briefly about the main thing
- Bybit exchange was founded in 2018 and offers cryptocurrency trading services and derivatives contracts, including forward and inverse contracts.
- Bybit P2P is a peer-to-peer trading platform that allows users to trade directly with each other using real or other fiat currencies.
- Since 2022, the Bybit broker has introduced the verification mandatory identity for all users. Despite this, users can anonymously use DeFi tools and the Bybit decentralized wallet.
- The broker offers the opportunity to use a demo account , which allows beginners to familiarize themselves with the platform's features without passing on the risk of losing funds.
- The broker offers features de copy trading that allow users to copy the strategies of successful traders.
- Bybit also offers the use of trading bots to automate the trading process.
- Users can earn passive income on the Bybit Earn platform through staking, liquidity mining, and dual-currency investments.
- Bybit also has its own NFT platform , where users can create, buy and sell NFTs.
Site Bybit
general information
| Exchange | Bybit |
|---|---|
| Official website | bybit.com |
| Trading Bonus | $5 to pay for social media subscription fees; $10 for reaching a derivatives trading volume of $10,000; $5 coupon for trading within three days, etc. See the conditions on the Bonus Mean . |
| Service Provider | Bybit Fintech Limitada |
| Brazilian language | Yes |
| To schedule | 24/7 |
| Free Demo Account | Open a demo account |
| Year of installation | 2018 |
| CEO | Ben Zhou |
| Employees | https://www.linkedin.com/company/bybitexchange/people/ |
| Entry/Exit Methods | Cryptocurrency, purchase with card |
| Deposit and Withdrawal Fees | 0% (network commission) |
| Entry limit | without limits |
| Withdrawal limit | of 0.001 BTC; 0.02 ETH; 0.2 EOS; 20 XRP, 20 USDT (ERC-20), 10 USDT (TRC-20), 25 DOGE, 1.5 DOT, 0.1 LTC, 8 XLM |
| Processing withdrawal requests | 3 times a day at 08:00, 16:00, 0:00 UTC |
| Daily trading volume (as of May 1, 2022) | US$ 6,751,762,175 (futures), US$ 435,853,723 (spot market) |
| Token de exchange | No |
| Financial instrument | derivatives, spot |
| Contracts | BTCUSD, ETHUSD, XRPUSD, EOSUSD e etc. |
| Type of futures contract | perpetual (linear, inverse), option |
| Contract size | 1 dollar |
| Trading fee | From -0.06% (discount) for the worker, from 0.01% for the borrower. For spot it is fixed at 0.1%. |
| Margin Trading | Yes |
| To enjoy | Up to 100x |
| Initial margin | 1 % |
| Maintenance Margin | 0,5 % |
| Types of orders | Market, limit, conditional |
| Price Index | Bitstamp, Coinbase Pro, Kraken (media) |
| Graphics | TradingView , standard |
| Mobile App | Yes |
| Anchor | [email protected] |
| Two-factor authentication | Yes |
| Cold storage of funds | Yes |
| Social network | https://twitter.com/Bybit_Official,https://twitter.com/BybitRussia,
https://www.reddit.com/r/Bybit/, https://www.facebook.com/Bybit, |
| Other brokers with margin trading | Bitmex , Currency.com , Binance , OKX , Binance Futures , etc. |
Peculiarities
Bybit Features
For the convenience of customers and to create high liquidity, the developers of the Bybit brokerage have provided the following features:
- A powerful system core that allows you to process up to 100,000 transactions per second without overload.
- Enjoy up to x100.
- Portfolio margin.
- Coverage.
- Various order types and closing strategies.
- High liquidity.
- Technical support is available 24 hours a day, 7 days a week. Answers in any of the available languages.
- The security of assets is ensured by moving them to offline wallets.
- Outstanding technical equipment. The server works perfectly, updates are implemented in real time.
Bybit Products
Bonus
The Bybit trading platform offers users a number of bonus welcome bonus: for example, for social network subscriptions, a 5% coupon is provided, which can be used to partially pay fees. Information about all bonus offers can be found in the page .
The remaining bonuses are mainly intended for making a deposit or reaching certain trading volumes (see the current conditions and offers on the page). No bonuses can be withdrawn from the account. They can only be used for trading and then withdrawing profits.
Bybit – bonus
Register
Bybit – create an account
The “Register” button is located at the top of the main screen of the Bybit official website, or access the page of registration.
You can create an account linked to an email or mobile number. Select the desired option and fill in the fields provided. The phone number must be entered without the eight, the password must have at least 8 characters, and must not contain numbers or capital letters.
Bybit – registration
Enter the code received by email or SMS. You need to hurry because the code is only valid for five minutes.
To log in to your account on the Bybit website, enter your registered email or mobile number and password. If two-factor authentication is connected to your account, the 2FA code will be included.
Demo Account (Testnet)
If, before creating an account on the Bybit cryptocurrency broker, you want to test a demo account, then on the trading screen, click not “Register an account”, but “Trade on a Bybit demo account”.
Bybit – open a demo account
On the new page that opens – “Registrations”. The other actions are exactly the same as for regular registration.
To receive “test” coins for trial trading on the Bybit platform, you need to write a request to technical support. After receiving them, you can start bidding.
Bybit – receiving test coins
Personal Account Overview
You can access your Bybit Exchange account by hovering over the account icon in the top right corner and selecting “Account & Security”.
Bybit – profile
In the first tab, you can set your account name, change your password, go through verification, and set up authentication in three ways – via email, via SMS, or via the Google Auth app. At the bottom of the page, you can view your login history.
Bybit – settings
The second tab is used to manage subaccounts – additional accounts within an account. It is useful to create sub-accounts for different purposes in order to divide the funds between them.
The third tab is where you work with API keys.
API is bybit
In the last tab you can configure confirmations and notifications, as well as select which currency will be considered the main one.
Bybit – options
Security Settings
Your Bybit trading account can be secured in three ways:
Bybit is authentication
- Link an email address so that you can perform certain actions only with confirmation via that address.
- Link a mobile number for the same purpose.
- Link Google two-factor authentication for important transactions, like scanning a QR code and entering a six-digit passcode.
It is important to remember or show the authenticator key as Bybit will not be able to help you recover it.
Account Verification
On Bybit you need to go through KYC in two cases:
- You want to withdraw more than 2 BTC per day.
- You want to take advantage of additional features like participating in token sales on Launchpad or purchasing coins with a card.
There are three levels of KYC. The first has a withdrawal limit of 2 BTC per day, the second is 50 BTC, and the third is 100 BTC.
To pass the second level, you will need to present an ID and undergo a facial verification. The third level requires proof of residential address. Suitable documents for this are utility bill, registration certificate, bank statement.
Starting 12/15/2022, KYC verification will be required for the following operations: purchasing cryptocurrency, transacting on P2P platforms, receiving rewards, as well as depositing/withdrawing/trading NFTs.
Bybit-KYC
Entry Exit
Deposit and withdrawal operations on Bybit are carried out in the “Assets” section by clicking on the corresponding “Deposit” or “Withdraw funds” buttons.
Bybit – deposit or withdrawal
To make a deposit, you need to copy the address (this can be done with a button at the end of the line), then go to the wallet you usually use and transfer funds to this address. It is important that when choosing Bitcoin, you can only transfer Bitcoins, similarly for other cryptocurrencies. Otherwise, the coins will be lost. The deposit will be credited to the account after confirmation by a miner.
Bybit – deposit
After confirmation you will receive an email.
Only users who have two security protection points activated can withdraw money.
When withdrawing from your account, there is a “Add” button, where you can add one or more addresses so that you can quickly select them when withdrawing.
Bybit – adding a withdrawal address
Click “Withdraw Funds”, indicate the wallet number and enter the desired amount. Confirm the action using any of the selected methods. Then you need to go to your email and follow the sent link. Following further Tips, a withdrawal request is created. The operation will be completed after 1 miner confirms.
You can also buy cryptocurrencies with a card on Bybit, if the option is supported in your country. “Buy Cryptocurrency” section in the top menu, “Express” item.
Bybit – purchase with card
In this case, the exchange is carried out through a third-party provider and within 5 to 10 minutes the coins are credited to the account.
Bybit Trading Terminal Review
On the Bybit broker, you can trade derivatives and the spot market. Select the desired trading instrument using the top menu of the website.
Topic: Bitcoin futures – what are they, where and how to trade
Bybit – lance
The bidding page has the following blocks:
- Rate Chart exchange rate for the selected currency pair. Updated in real time.
- Order book. All currently valid buy and sell orders.
- Latest deals. The most recently completed transactions.
- Information about your active and executed orders.
- Asset overview. Rate, capitalization, available margin, risk limit of all cryptocurrencies presented on the site.
- Create a buy or sell order.
- Information about the selected contract (name, cost of the last transaction, turnover in 24 hours, financing rate in the last 5 to 13 hours).
- Market activity for available contract types.
The blocks located on the left side of the screen can be swapped, stretched and moved at your discretion to make the trading process more useful.
Available contracts and currencies
On the Bybit cryptocurrency derivatives exchange, you can trade in dozens of different directions. Let's give a few examples.
Reverse contracts:
- BitcoinUSD
- EthereumUSD
- EOSUSD
- XRPUSD
Linear contracts:
- BTCUSDT
- ETHUSDT
- EOSUSDT
- XRPUSDT
AND:
- Optional
- 185 coins on the spot market
- Leveraged Tokens
Bybit – asset trading
Characteristics of indefinite term contracts
Perpetual contracts are similar to traditional futures, except they have no expiration date. As a result, traders can hold positions for as long as they see fit.
Perpetual contracts also mimic the spot margin index and track the underlying price based on information from the three major spot cryptocurrency exchanges through a funding mechanism.
Main features of perpetual contracts on the Bybit trading platform:
- Financing . This is an exchange of payments between buyer and seller, carried out every 8 hours. If the rate is negative, then short position holders receive funding, and long position holders pay it, and vice versa. Funding is only provided if the trader holds the position during one of the 3 time stamps.
- Fair Price Labeling . They are used to avoid unnecessary liquidations of positions characterized by high leverage. If there is low liquidity, price manipulation, or price fluctuations due to high volatility, unnecessary liquidations will be avoided by marking fair prices.
- Markup price . Determines unrealized profits and losses (UNPL) and settlement prices.
- Initial and maintenance margin . These are the most significant margin levels that determine the level of leverage currently available and the timing required for liquidation.
- Risk limit . Allows you to reduce losses in case of unsuccessful trades. The goal is to set a certain level (limit) as a percentage of the deposit, upon reaching which the trade is closed. Each trader can choose the risk limit for himself, as a rule, the optimal option is in the range of 8 to 20%.
- Automatic deleveraging (ADL). The mechanism is also called “Socialized Losses” and works as follows: for each of the contracts, an account that has a positive overall profitability or loss ratio shares the total amount of losses that suffer a negative margin. This occurs at the end of the compensation period. An amount proportional to the total profitability is distributed among profitable accounts.
- Contract size. The amount of the deposit invested in the contract.
BTCUSDT Contract Details:
Bybit – BTCUSDT
ETHUSDT Contract Data:
Bybit – ETHUSDT
Trading Perpetual Contracts on Bybit
Bybit – order creation
There are three types of orders on Bybit :
- Market . The order will be executed instantly at the current market price of the asset.
- Limit . Allows you to set your own price. The order will be executed automatically once the asset price reaches the specified position.
- Conditional . This option is suitable for experienced traders. Allows you to set the activation price. The order will not appear in the order book until the rate equals the trigger. When this happens, the conditional order will be moved to the book (if it is a limit order) or executed (if it is a market order). This type of order is also called stop limit .
The order type is selected in the upper part of the order creation set. In addition to the order type, you must select the leverage or its smallness, specify the price, quantity and other parameters depending on the order type.
To reduce the level of risk, you can set Take Profit/Stop Loss for the order being placed, as well as edit them.
Stop loss is a suspended order used to limit losses. It is set with a pre-calculated value and helps to exit the market in time before the loss causes significant damage to the deposit. Take Profit, on the contrary, fixes the profit. It sets the price level at which the trader wants to exit the market, taking his profit.
When using a limit and conditional limit order on the Bybit cryptocurrency exchange, you can set several parameters for its execution:
- Good Till Cancelled.
- Execute immediately or cancel (ImmediateOrCancel).
- Use immediately or cancel (FillOrKill).
Bybit – order parameters
Market order as an example
An example of a market order slot on the Bybit exchange :
- We set the leverage and the number of contracts in USD. You can use the % scale, which indicates the percentage of the margin used in the transaction in relation to the available margin. For example, 100% – all available leverages will be used.
- For example: open a position for 99 contracts (1 contract = $1) with 10x leverage, using all available margin (100% at graduation) 0.00086392 BTC. The average entry price will be 0.0008 BTC.
- Click “Buy” (long position) or “Sell” (short position).
- Next, you can set the take-profit and stop-loss parameters. For example, our long position will be closed with 100% profit when the price reaches 13,044 USD. If the rate goes against us, a stop loss will be triggered at the level of 11,453 USD and the loss will be 25% of the used margin. The liquidation price is 10,723 USD, at this level the position will be forced to close if no stop loss is set. Temporary conditions: ImmediateOrCancel (IOC), i.e. the order is executed immediately or canceled. Click “Confirm” to place the order.
Remember that when placing a trade on the market, Bybit pays a taker fee of 0.01%.
Guide to opening a limit order using an example
Tips for placing a limit order on Bybit :
- We choose a contract. For example, BTCUSD.
- Select the order type – “Limit”.
- We define the leverage, transaction entry price, and contract size.
- For example: leverage – 5x, order price – 11765 USD, quantity – 25 USD (50% of available margin will be used for this leverage).
Bybit – margin trading
- We set additional parameters for placing orders. For example, the “Passive” option will not allow the order to be executed immediately at the market price, and therefore the commission will be paid as a maker, not as a taker. For this parameter, you can set a time requirement – “Good until canceled”, i.e. The application will be active until it is filled, and can be canceled before that moment.
- We set take-profit, stop loss (if necessary) and confirm the position opening.
The limit order will be located in the “Active” section until it is executed. It can still be canceled. When the conditions are met, it will be moved to the “Positions” section. The minus sign before the number of contracts “-25” indicates that the transaction is for sale:
In our example, the price reached 12,000 USD and the sell order was executed. Unrealized P&L is the current profit or loss. In the example, the profit is 0.14%:
The order was closed with stop loss:
How to close an occasional position
A position on the Bybit broker can be closed with stop loss or take profit parameters if the price reaches the set values. In addition, you can close a transaction in whole or in part by limit or market. In all cases, a counter order is required.
Closing by limit
Tips:
- Go to the occasion position and on the last pillar click on “Limit”:
- Set the parameters by which you want to close the position: indicate the closing price, quantity (all contracts or partially). For example, we closed a deal to sell 25 contracts at the price of 12,030 USD. The breakeven price (screenshot above) is 12,060 USD. The profit will be 0.00000517 BTC.
- The “Close by” column will display the new options for closing the deal. This requirement can be canceled and a new one assigned.
Closing by market
In this case, an opposite market order will be placed. You can close a position in whole or in part.
Closing by take or stop
If take or stop parameters were not set when opening a trade, they can be set or changed at any time.
In the “TP/SL” column of the Bybit trading terminal, click on the icon:
Specify stop and take values, click “Confirm”:
The changes will take effect immediately:
Description of position parameters occasion
In the “Positions” table we see all the information about the created order:
- Contracts – what type of contracts are selected from those available on the Bybit exchange (BTCUSD, ETHUSD, XRPUSD, EOSUSD).
- Quantity – the number of assets involved.
- Outlay – the value of the assets involved at the current exchange rate.
- Price is the current cost of one unit of cryptocurrency.
- The liquidation price at which the position will be eliminated.
- Margin – margin used, taking into account leverage.
- Unrealized P&L is the unrealized gains and losses calculated based on return on equity and markup value.
- Daily realized P&L – profits and losses from this position received during the day.
- TP/SL (trailing stop) – format and editing of take-profit or stop loss.
- Close – Toggles between market and limit order types to close a position.
Fees
Bybit – taxas
- Worker discount for all contracts = -0.06%
- Taker fee for all contracts = 0.01%
- Spot market rate = 0.1%
- The financing rate is not fixed.
Bybit withdrawal fees and limits:
Bybit – Withdrawal fees and limits
p2p marketplace
Analysis: Bybit P2P
In a peer-to-peer marketplace, you can sell or buy cryptocurrencies with fiat currency without having to deposit fiat currency into your account. Payment occurs directly from one user to another.
Currently, you can only buy/sell the USDT stablecoin; new coins are planned to be added in the near future.
Bybit P2P
Yield per bit
The broker offers a range of investment products that allow you to earn passive income simply by investing unused cryptocurrencies. The risks are minimal, although they still cannot be ruled out.
Examples of investments available on Baybit:
- Staking pool for PoS cryptocurrencies
- Dual Currency Investments
- DeFi Mining
- Flexible deposits
You can use different currencies to earn money depending on the support of the specific tool.
Yield per bit
NFT por Bybit
Not long ago, an NFT marketplace was launched on the exchange. You can’t mint your own tokens yet, but you can deposit them from any other source, for example, the Metamask wallet.
As expected, the marketplace allows trading of individual NFTs, collections, and mystery boxes.
The following can be used as payment:
- ETH
- USDT
- CHUNK
Payment is made from a spot wallet.
Bybit NFT
Reviews
Ultimately, ByBit is a proficient trading broker with reasonable fees, a powerful technological component and a clear interface. The platform can be a good selection for many brokers , which are currently considered leaders in the derivatives trading industry.
The broker has developed a lot over the past 1-2 years, acquiring many modern and relevant functions, from investment products to the NFT market. Auxiliary bonuses and a demo account will be a good solution for learning how to trade cryptocurrencies.
Advantages and disadvantages
pros
- Many cryptocurrency perpetual contracts and options supported.
- Spot market.
- High liquidity.
- Enjoy up to 100x.
- No account verification is required.
- Low commission rates.
- High technology and efficiency.
- Bonus to start to negotiate .
- High transaction processing speed (100,000 per second).
- Convenient and simple interface of the trading terminal.
- Set take profit and stop loss.
- Educational materials for beginners and professional traders.
- Professional TradingView charts.
- Risk coverage.
- Dual pricing mechanism to protect against manipulation.
- Security. Indifferent storage of cryptocurrencies.
- Trading platform and 24/7 support service.
- Information about the management and employees of the Bybit brokerage is available.
- Activity on social networks.
- API to connect trading bots .
- Trading on Tradingview via Bybit API.
- Availability of an insurance fund.
- You cannot lose more than your initial margin.
Disadvantages
- Bybit is not as liquid as competitors like Binance Futures .
Frequently asked questions
What is Bybit?
Centralized brokerage for cryptocurrency trading and investment operations. Founded in 2018.
What is the official website of the Bybit broker?
bybit.com. Always make sure the domain is correct when making financial transactions.
What profit tools does Bybit broker offer?
Spot, futures, margin trading, staking, deposits, dual currency investments, NFT and p2p marketplaces.
How many contracts, currencies and trading pairs are supported?
173 contracts, 185 cryptocurrencies, 216 trading pairs
How can I top up my account?
In cryptocurrency by transfer from an external wallet or by purchasing with a card. It is also possible to purchase via p2p.
How to withdraw money from Baybit?
In cryptocurrency or through p2p marketplace, selling cryptocurrency for fiat currencies.
How to transfer from Bybit to Metamask?
Copy the Deposit address in your Metamask wallet. On the exchange, go to the “Assets” section, withdrawal page of the desired cryptocurrency. Send coins by entering the amount and address. Don’t forget to make sure that the appropriate blockchain network is selected in your wallet and on Baybit.
What are the trading fees on Baybit?
Spot market: 0.1%, futures: maker -0.06%, taker 0.01%.
How to drill uma conta demo no Bybit?
Create an account at testnet.bybit.com and request a virtual account top-up from technical support.
What cryptocurrencies can you buy on Bybit P2P?
USDT, BTC, ETH and other popular coins.
What assets are accepted for payment on the Bybit NFT marketplace?
ETH, BIT, USDT.
How to use a Bybit coupon?
Coupons received as bonuses must be activated in the “Bonus Average” -> “My Rewards” section for them to start working.
What's in Bybit Metatrader 4?
MT 4 is a trading terminal that allows you to trade perpetual contracts in a convenient interface that is familiar to Forex traders. Suitable for automated trading, advanced technical analysis, and backtesting. Bybit offers MT 4 VPS hosting for smooth operation. You can download the mobile or desktop version of the terminal.
What is the Bybit Mystery Box?
A “mystery box” in the form of an NFT that can be used, and inside it will be another random NFT from those previously promised.
Where can I get Bybit training?
The Exchange website has the Bybit Learn Academy with a large number of educational articles presented in understandable language, including Brazilian.
Is cloud mining available on Bybit?
In early 2023 – no, previously there were contracts on Ethereum, until this coin switched to staking.
What are Bybit reviews?
The cryptocurrency exchange has mostly positive reviews, having gained recognition for its high security, user-friendly interface and variety of functions.
How to delete your Bybit account?
You must write a corresponding request to [email protected].
What are the restrictions for Brazilians on Bybit?
Bybit operates in Brazil and offers Brazilians a full range of services, from depositing reais to trading, investing and withdrawing assets.
Conclusion
Bybit is among the top exchanges in terms of cryptocurrency futures trading volume and is considered one of the most liquid platforms on the market. With an emphasis on security, fast and uninterrupted operation, and functionality, Bybit is a comfortable platform for cryptocurrency traders. With the launch of a spot trading platform, in addition to futures, the ability to trade long and short positions, this is a great place to effectively take advantage of the volatility of the cryptocurrency market to make money.