What Makes Bybit an Excellent Crypto Trading Platform?

What Makes Bybit an Excellent Crypto Trading Platform?

Launched in 2018 by Ben Zhou, Bybit has now become one of the biggest and most prominent cryptocurrency exchanges in the world. It has one of the most impressive list of co-founders and team members that add a lot of value to the crypto exchange. They are also one of several reasons why the platform has been performing so well and competing with some of the best trading platforms in the world.

It is based in Singapore and is a peer-to-peer crypto futures exchange. They offers support to leverage trading with up to 100x leverage, which is one of the highest in the market.

It is a well-developed crypto exchange, which can be gauged by its impressively high trading engine capacity. As compared to other high-end platforms, the Bybit exchange has the trading engine capacity to handle 100,000 transactions per second (TPS). All orders are executed instantly and without any delays or interruptions.

If you are interested in using the exchange then here are some of the features that make it one of the top trading platforms in the market.

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Bybit Offers Excellent Customer Support

The customer support services offered by the exchange is one of its most prominent features and is one of the top reasons a vast audience uses the exchange to trade crypto assets. Customer support service offered to the users is impeccable and available for the users around-the-clock.

The customer support agents are experienced and do not delay in assisting the users. Its customer support team is also easy to reach and contact and aims to make crypto trading hassle-free and convenient as much as possible.

Fees Charged

Bybit fees is yet another high-end and impressive feature of the exchange that draws in a vast audience, especially people interested in trading crypto. The fee charged by an exchange is one of the top features you need to analyze before you start using it.

Even though every crypto exchange requires the users to pay a fee, the fee structure is not necessarily transparent or fair. Some of the platforms include hidden and additional charges that can indicate the exchange is unsafe.

Bybit, on the other hand, is one of the best platforms in terms of the fee it charges as well. The Bybit fee structure is one of the lowest and free of any additional charges.

  • 0.0005 BTC withdrawal
  • -0.025% trading fee for market makers
  • 0.075% trading fee for market takers
  • 0.02% / -0.02% funding rate

Mobile Application

The Bybit exchange created a high-end mobile application that is one of the top features for people looking to trade actively, even while on the go. The mobile application is available for iOS and Android users and has the same functionality as the desktop version.

If you have a demanding schedule but you want to keep an eye on your trading positions then you can do so with your Bybit mobile application. It allows:

  • Monitoring of a trade
  • Advanced charting
  • Order management

Order Types Available

The advanced order functionality of the Bybit exchange is one of the top features when it comes to the leveraged trading capabilities of the platform.

This exchange not only supports basic order types but advanced order types as well.

The basic order types supported by the exchange are:

  • Limit order
  • Market order
  • Stop-loss
  • Conditional order

The advanced order types supported by the platform are:

  • Fill or Kill (FOK)
  • Immediate-or-Cancel (IOC)
  • Good-till-Cancelled (GTC)

Safety of the Exchange

Bybit stands out among other cryptocurrency exchanges, thanks to its features and services offered such as the level of security. The safety of an exchange is also one of the factors that should not be overlooked by people while they are searching for the best one.

Choosing a secure crypto trading platform can help novice parties in avoiding unnecessary obstacles and security risks. None of the platforms in the market can offer complete security but the top ones that use cutting-edge security protocols minimize the risks to a great extent.

The Bybit exchange is one of the safest platforms in the market and takes the security of the users very seriously. Therefore, if safety is a high priority for you then this can be a good platform where you trade crypto.

Tools for Data Analysis

This exchange offers excellent crypto trading experience for every trader by making use of innovative tools such as data analysis tools mentioned below.

  • Daily Realized Volatility – shows the actual volatility over a period.
  • Monthly Price Range – looks at the monthly highs and lows in the price of an instrument
  • Price Moving Averages – shows price of Bitcoin and different moving average indicators for several timeframes
  • Rolling Volatility – shows the realized volatility as compared to the average over the last month.

Conclusion!

Crypto trading is supported by a multitude of cryptocurrency exchanges, however, Bybit is one of the most standout platforms. As a potential user of the exchange you should know the details of the exchange mentioned above in detail.

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