Today, we’re going to introduce the Bybit Exchange.
Bybit is a cryptocurrency exchange that was launched in March 2018 and is currently recognized as stable with fewer server downs along with a user-friendly interface.
You can also receive up to 20% off commission if you sign up with a referral code.
You can get up to 20% discount on fees by signing up for Bybit membership by accessing the referral link prepared below.
The registration method is written below, so please refer to it.
How to sign up for Bybit membership
Enter email and set password
Go to the Bybit sign up site link
If you connect through the link, you will see the same screen as the image.
Please choose between Email and Phone Number.
I will explain Email as an example.
Please enter your actual email and enter your password in the Password column below.
Passwords must be at least one uppercase, lowercase, and eight or more characters.
Check the referral code
Next, please check the referral code.
The referral code is [18449],
It’s just below the password, like the image,
The reference code is written under ‘Welcome to Bybit!’ on the left.
Enter authentication number
The authentication number will be automatically sent to the email, so please enter the authentication number sent.
If the email was not sent after waiting, check your spam box, or wait 60 seconds and press ‘Resend’ to send the authentication number again.
Moving on will complete your bi-bit membership.
KYC identity verification and OTP settings
KYC identity verification
Increase security with KYC identity verification.
Identity ification is essential for account security.
OTP settings
As it is a digital virtual currency exchange, security authentication is needed to protect accounts and assets from hacking.
OTP settings can be set through the Google Authenticator application.
Getting Started Trading on Bybit
spot trading
Spot trading is the most basic way of buying and selling coins, and you can make a profit when the coin rises.
futures (margin) trading
In ByBit, futures trading and margin trading are the same thing, originally called margin trading, but they are often called futures trading for convenience.
It is a way of betting on whether the coin’s market price will rise or fall, and if it is expected, it will earn profits and if it is wrong, it will lose money.
In addition, there is leverage that allows users to set their own magnification and a liquidation system that can force the transaction to end.
Bybit fees
There are a total of five types of fees for Bybit cryptocurrency transactions: deposit, withdrawal, spot trading fee, ffutures trading fee, and funding fee
Deposit fee
The deposit fee is free.
Withdrawal fee
In the case of withdrawal fees, the fee varies from coin to coin.
spot trading fee rate
The spot transaction fee is basically 0.1% for both taker and market prices.
futures trading fee rate
Futures trading fees are basically 0.01% taker price and 0.06% market price.
Funding Fee
Funding costs are a system that is only in futures trading, and in order to prevent overheating of coin rise, the rising position pays a certain fee (funding fee) every eight hours to meet the supply and demand of both positions.
Other Information
Bybit operates a service called Copy Trading.
Copy trading is to copy the trade practices of experts registered on BiBit and apply their profits and losses to themselves.
Bybit is a secure trading platform with security measures and operational procedures similar to bank financial institutions, and is a trusted exchange that has never been damaged by incidents/accidents such as hacking.
Mobile apps also exist and are available on both iOS and Android platforms.
Bybit has a wide range of cryptocurrencies available in transactions, including popular cryptocurrencies such as Bitcoin (BTC), Ethereum (Ethereum) (ETH), TRX (TRON), XRP (Ripple), and USDT (Tether USD).
That’s all we’ve learned about the Bybit Exchange.
Generate revenue from Bybit exchanges with low fees and a friendly interface compared to other exchanges.