[Bybit Founding] Bybit exchange Info

 

 

Bybit

Bybit is a cryptocurrency derivative margin trading platform, established in March 2018. It’s headquartered in Singapore and has offices in Hong Kong and Taiwan.

According to Bybit, the exchange hosts traders from all over the world, including North America, Europe, Japan, Russia, South Korea, and Southeast Asia.

 

 

About Bybit

The exchange prides itself on delivering multilingual online support to its customers and is committed to providing a transparent and efficient trading experience. The products on the platform include BTC/USD, ETH/USD, EOS/USD, and XRP/USD perpetual contracts. A perpetual contract resembles a traditional futures contract in many ways. Its main difference, however, is that it doesn’t have an expiry date. Hence, traders are allowed to hold their positions for as long as they need to.

Moreover, the exchange boasts a 100,000 TPS state-of-the-art matching engine. While many of its competitors have suffered from repeated overload problems, this high-performance matching engine makes it possible for Bybit to stand above the competition.

The Bybit cryptocurrency broker platform is operated by the Bybit Fintech Limited which is registered on the British Virgin Islands, with headquarters in Singapore. The company was launched in March 2018, making it a fairly young player on the market.

Main Features

• Trading: "Real "crypto trading (CFDs – but withdrawals in crypto)
• Anonymous Accounts: yes
• Cryptos: BTC, ETH, EOS, XRP
• Payment Options: BTC, ETH, EOS, XRP
• Min. Deposit: None
• Max. Withdrawal: 10 BTC per withdrawal
• Trading Fees: Maker: -0.025% , Taker: 0.075%
• Leverage: 100x
• Order Types: Limit Orders, Market Orders, Stop Limit, Stop Market, Post-Only, Close on Trigger, GoodTillCancelled, ImmediateOrCancel, FillOrKill
• Demo Mode: Yes
• Security Measures: Bitcoin in cold storage (cold multi-signature wallet), two-factor authentication
• Mobile App: No in-house app, but mobile website version works well
• Support: 24/7 live chat, email, Twitter, Telegram
• Supported Countries: Worldwide; excluding USA, Québec and some others

Bybit Products

Bybit offers perpetual crypto derivative contracts on Bitcoin, Ethereum, EOS, and Ripple against USD. It means that by performing a trade, you are not buying an underlying asset, but enter an agreement with the seller for the future price of a given asset.

In order to trade any of the products offered by this platform, you will have to deposit either BTC, ETH, EOS, or XRP, after which Bybit will calculate your available margin, shown in USD. This margin can be used to enter a short or long position on every currency pair available: BTC/USD, ETH/USD, EOS/USD, and XRP/USD with a maximum leverage of x100.

Bybit Exchange Fees

Perpetual Contracts Fees

Funding Fee

Bybit does not pay or receive any of the funding fees.

Deposit/Withdrawal Fee

Bybit does not charge any deposit or withdrawal fees. However, a mining fee will be imposed by the blockchain when making a BTC or ETH withdrawal. The fee payable will depend on the blockchain average fees at that point in time.

Deposit/Withdrawal Limits

There are no Deposit limits imposed on Bybit. Withdrawals are processed manually 3 times per day. The withdrawal limits per request are as follows:

• BTC: 0.002 – 10 BTC
• ETH: 0.02 – 200 ETH
• XRP: 20 – 100 000 XRP
• EOS: 0.2 – 10 000 EOS

Bybit Regulation and KYC

Just like most other crypto margin exchanges, Bybit doesn’t require KYC in order to trade.

According to the team, “Due to the evolving nature of the blockchain and cryptocurrency industry, most countries have yet to establish regulations and jurisdictions to govern cryptocurrencies. However, that being said, Bybit understands the importance of being licensed and is currently actively seeking avenues to obtain any relevant regulatory license.”

Bybit is not currently regulated in any country. Its headquarters are in Singapore and it is registered in the British Virgin Islands.