Bybit

The speed of depositing and withdrawing funds is the most important criterion for choosing an exchange for 54.26% of research participants. Funds are credited to the Bybit account after the only confirmation of the transaction in the blockchain. Withdrawal requests are processed three times a day (UTC time):

at 08:00, applications received before 07:30 are processed;

at 16:00 - applications received before 15:30;

at 00:00 - applications received before 23:30.

The payment goes to the user's wallet 1-2 hours after processing.

Trading commission size

Another important criterion when choosing an exchange for 53.18% of survey participants. Bybit collects trading commission for completed trades:

taker - a user who accepts an offer from the order book at a market price - pays 0.075% of the transaction amount;

a maker - a user who publishes an order and offers a price - receives a rebate of 0.025%.

There are no fees for deposits and withdrawals on Bybit, but users need to be mindful of the fees for blockchain transactions.

Variety of trading pairs

An important criterion for choosing an exchange for 44.5% of survey participants.

Bybit works only with cryptocurrency derivatives - perpetual contracts BTCUSD, ETHUSD, EOSUSD and XRPUSD.

Simplicity of the interface

Another important criterion for choosing an exchange for 37.21% of survey participants. Bybit offers a trading interface familiar to cryptocurrency and traditional exchanges.

Bybit trading interface

The platform charts are provided by the TradingView service. This is a popular solution among trading platforms, which will be familiar to experienced traders. And for beginners, the TradingView interface will be clearer than the native interfaces of some platforms. Due to the popularity of the service, there are enough reference materials on it.

Bybit User Account Assets Page

The pages of assets, payments and transaction history are not overloaded with information. You can top up the balance or withdraw funds immediately from the wallet page.

Ease of verification

An important criterion for choosing an exchange for 29.77% of research participants.

To register and verify an account on Bybit, you only need an email and phone number. You won't have to go through the laborious procedures associated with the KYC policy.

Availability of a mobile application

An important criterion for choosing an exchange for 27.29% of research participants. According to Bybit representatives, mobile applications of the platform for iOS and Android are still in development.

Prompt technical support

An important criterion for choosing an exchange for 23.41% of research participants.

Bybit customer support is available 24/7.

You can chat with support and customer service specialists via online chat or email.

Analytical tools

An important criterion for choosing an exchange for 16.59% of research participants.

Choosing indicators on Bybit

The platform features 78 indicators for exploring charts, including moving averages, momentum and RSI.

Bonus size

An important criterion for choosing a trading platform for 16.43% of participants in the analysis.

Bybit offers a couple of types of bonuses:

$ 10 when registering on the platform and retweeting the pinned message on the exchange's official Twitter page;

$ 50 on the first deposit of at least 0.2 BTC, 10 ETH, 500 EOS or 8000 XRP per transaction.

The bonus is available only once. These funds cannot be withdrawn from the account, but they can be used for trading. The income received from the operations performed on bonus funds can be withdrawn or used in the following transactions.

Margin trading and leverage is an important criterion for choosing an exchange for 16.28% of research participants.

On the site, there is margin trading with 100: 1 leverage for BTCUSD contracts and 50: 1 for XRPUSD, EOSUSD ETHUSD.

The minimum margin for BTC is 0.5%, for ETH, EOS and XRP - 1%.

Convenient withdrawal of fiat is an essential criterion for choosing this exchange among 15.66% of research participants.

Bybit does not work with traditional currencies.

Referral program

An important factor in the choice of the exchange was 11.63% of the survey participants.

The Bybit referral program provides a one-time reward for personally invited users and commissions from them and their referral transactions.

A reward of $ 10 is credited to the account once for each user who registered using the referral link and made a deposit of 0.2 BTC or more.

The commission rate depends on the number of monthly active referrals and the total volume of their transactions:

25% - 10 active referrals;

33% - 50 active referrals and volumes above 500 BTC, 16,000 ETH, 60,000 ETH and 10,000,000 XRP;

35% - 150 active referrals and volumes above 5,000 BTC, 160,000 ETH, 6,000,000 ETH and 100,000,000 XRP.

The commission is calculated from the volume of the transaction, taking into account the taker commission.

You can always see the number of referrals, their deposits and accrued rewards in your personal account on the Bybit website.

Interface localization

An important factor for choosing this exchange for 7.29% of survey participants.

The interface and materials on the Bybit website are available in English, Chinese, Japanese, Korean and Russian. Bybit is a decent option in terms of the criteria for choosing an exchange described in the study. Bybit developers consider the main advantage of the platform to be high order processing speed, regular updates without server downtime and round-the-clock user support.

The disadvantages of the platform include the lack of support for fiat payments and a mobile application, a limited list of assets for trading. The last point can be justified by the platform's specialization in perpetual contracts.

Category: Leaders Creptocarrency Exhcanges | Added by: boss (18.08.2020)
Views: 30 | Rating: 4.0/1
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