Beginner Guide and Review of Bybit Exchange

Introducing Bybit Exchange: A Prominent Platform for Cryptocurrency Derivatives Margin Trading, Established in March 2018.

Quick Navigation:

• Bybit: Exploring the Pros and Cons
• How to Register on Bybit and Avail the $90 USD Rewards Bonus Program
• Deposits and Withdrawals: A Guide to Topping Up and Withdrawing on Bybit
• Trading on Bybit: An Overview
• Bybit Margin Trading: Understanding Leverage Settings
• Isolated Margin and Automatic Margin Replenishment: Features Explained
• Exploring Bybit Trading Fees
• Security Measures: Assessing Bybit Safety Protocols
• Bybit Customer Support: Accessing Assistance
• Bybit and KYC Regulation Status: An Insight into Compliance Efforts

Pros

• Intuitive UI/UX: Bybit boasts a user-friendly interface, offering a seamless trading experience.
• Responsive Support: The platform provides highly attentive customer support, ensuring timely assistance.
• Reliability and Security: Bybit prioritizes security, offering a robust and dependable trading environment.

Cons

• Limited Trading Pairs: Bybit features a restricted selection of trading pairs, potentially limiting trading opportunities.
• Lack of Regulation: As of now, the platform operates without regulatory oversight, posing a potential concern for some users.”
  “According to Bybit, the exchange draws traders from various corners of the globe, encompassing North America, Europe, Japan, Russia, South Korea, and Southeast Asia.

Bybit takes pride in its commitment to offering multilingual online support, ensuring transparent and efficient trading experiences for its clientele.

As of the latest update, the platform features a range of products, including BTC/USD, BTC/USDT, ETH/USD, EOS/USD, and XRP/USD perpetual contracts. These perpetual contracts resemble traditional futures contracts but do not have expiration dates, allowing traders to maintain positions indefinitely.

Furthermore, Bybit touts a cutting-edge matching engine boasting a speed of 100,000 TPS (Transactions Per Second). This impressive performance ensures the exchange remains ahead of its competitors, effectively mitigating congestion issues often encountered by other platforms.

In a bid to enhance the trading experience, Bybit plans to integrate TradingView, a popular charting and analysis tool, further solidifying its position as a top-tier cryptocurrency exchange.”

Registering on Bybit

Registering on Bybit is a straightforward process that allows you to kickstart your trading journey with ease. Here a step-by-step guide:

• Visit the Bybit platform website and locate the “”Register”” button on the top navigation bar.
• Click on the “”Register”” button, and you be directed to a registration form.
• Fill in the required details, including your email address and password.
• Once you submitted the form, you receive a verification code via email.
• Enter the verification code to complete the registration process.

It crucial to prioritize security from the get-go. After registering, head to your account settings and navigate to the “”Account and Security”” tab. Here, you can enable additional security measures such as email authentication, SMS authentication, and Google authentication (2FA).

Bybit emphasizes user-friendly navigation, ensuring that essential features are easily accessible via the top navigation bar. This includes trading functionalities and the ability to monitor assets and market prices.

Additionally, upon successful registration, users can unlock $90 worth of free BTC to jumpstart their trading endeavors. This promotional offer is exclusive to Bybit users and is subject to certain terms and conditions.

Depositing and withdrawing funds on Bybit is a seamless process. Here a step-by-step guide

• To deposit funds, navigate to the Assets tab in the top navigation bar. Here, you find a list of available perpetual contracts. Keep in mind that Bybit is a crypto-only platform, so you can only deposit cryptocurrencies.
• Within the Assets tab, you can monitor key metrics related to your positions, such as unrealized gains and losses, available margin, and position margin. Additionally, you find options for depositing and withdrawing funds on the right side of the page.
• To deposit funds, click on the Deposit button. You then be presented with your Bitcoin (BTC) deposit address along with its corresponding QR code.
• For withdrawals, the process is equally straightforward. However, for security purposes, withdrawals require account verification and two-factor authentication (2FA) to be enabled.

By following these steps, you can easily manage your funds on Bybit, ensuring a smooth and secure trading experience.

Trading on Bybit is a straightforward process, tailored for both novice and experienced traders. Here how to get started:

• Bybit primarily operates as a cryptocurrency futures platform, enabling users to take both long and short positions. Place a long order if you anticipate the price to rise, or opt for a short order if you predict a price decline.
• Bybit offers several advanced order types to cater to diverse trading strategies:

• Limit Orders: Set a specific price at which you want your order to execute.
• Market Orders: Execute orders at the current market price, ensuring immediate execution.
• Conditional Orders: Trigger orders based on predefined conditions, offering enhanced flexibility in trading.

By familiarizing yourself with these order types, you can effectively execute trades on Bybit, capitalizing on market opportunities and optimizing your trading outcomes.
Exactly! With a limit order on Bybit, you have precise control over the price at which your trade executes. Here how it works:

• Suppose Bitcoin is currently trading at $9,800, but you believe that the price is too high for your liking.
• You decide to go long on Bitcoin, but you set a limit order to buy at $9,700, a price point that you consider more favorable.
• When the market price of Bitcoin reaches $9,700 or lower, your limit order will be triggered, and your trade will be executed at the predetermined price.

By utilizing limit orders, you can strategically enter positions at prices that align with your trading strategy and objectives, maximizing your potential profits and minimizing risks.

Indeed, a market order is the most straightforward type of order, ensuring immediate execution at the current market price. Here how it works

1. When placing a market order on Bybit, you specify the quantity of Bitcoin (or any other cryptocurrency) you wish to buy or sell.
2. Next, you select whether you want to go long (buy) or short (sell) on the asset.
3. Upon confirming your market order, it will be executed instantaneously at the best available price in the order book, ensuring swift execution without delay.

Market orders are ideal for traders seeking prompt execution and are willing to prioritize speed over price precision. They are particularly useful in fast-moving markets where immediate entry or exit is paramount.”

Exactly! Conditional orders offer advanced functionality for traders who wish to automate their trading strategies based on specific market conditions. Here how they work:

1. When placing a conditional order on Bybit, you must specify both a trigger price and a limit price.
2. The trigger price acts as a threshold: once the market reaches this price level, your order will be activated and enter the order book.
3. Only when the trigger price is met will your order be submitted to the market, either as a limit order (executing at a specified price) or as a market order (executing at the prevailing market price).
4. Conditional orders are ideal for implementing complex trading strategies, such as stop-loss orders or take-profit targets, allowing traders to automate their actions based on predefined criteria.

By utilizing conditional orders, experienced traders can execute their trading plans with precision and efficiency, even in volatile market conditions.

Setting leverage on Bybit is a crucial step in margin trading, allowing traders to amplify their positions and potential profits. Here how to do it:

1. Before entering your position size, you must choose a leverage level. This determines the amount of capital you can borrow to open a trade.
2. Once you selected your desired leverage level, your position size will be automatically adjusted based on the leverage chosen.
3. Bybit offers leverage levels of up to 100x, meaning you can trade with up to 100 times the amount of capital you have. However, it important to note that higher leverage also tightens your position stop-loss, increasing the risk of liquidation.

By carefully selecting your leverage level, you can effectively manage your risk exposure and optimize your trading strategy on Bybit margin trading platform.

Opening and closing a position on Bybit is a straightforward process, designed to streamline your trading experience. Here how it works:

1. To open a position, simply select your desired order type and input the necessary parameters, such as quantity and price.
2. Once your order details are entered, execute your trade by clicking the Buy/Long or Sell/Short button, depending on whether you initiating a long or short position.
3. Upon execution, your position will be displayed in a dedicated section where you can monitor its performance in real-time.
4. To close your position, you have multiple options. You can opt to close your position at the current market price or set a specific target price for your exit. Additionally, you can activate Automatic Margin Replenishment (AMR) to manage your margin levels automatically.

Bybit provides traders with the flexibility to manage their positions effectively, ensuring seamless execution and risk management throughout the trading process.

Margin trading presents lucrative opportunities in the cryptocurrency market, but it’s vital to grasp its risks before engaging in it. Bybit offers two options for margin trading: isolated margin and automatic margin replenishment.

1. Isolated Margin: With isolated margin trading, you can allocate a specific amount of your trading capital to each position. This helps mitigate the risk of one losing position impacting your entire account balance. By setting up isolated margin, you can effectively manage your risk exposure and protect your overall capital.
2. Automatic Margin Replenishment (AMR): Automatic margin replenishment is a risk management feature offered by Bybit. It automatically adds funds to your margin account to prevent liquidation in the event of adverse price movements. AMR ensures that your margin level remains above the liquidation threshold, allowing you to maintain your positions without interruption.

By understanding these margin trading options and implementing proper risk management strategies, traders can navigate the complexities of margin trading on Bybit with greater confidence and security.”
Isolated Margin is the default mode on Bybit, ensuring that your position margin remains separate from your overall account balance. In this mode, the exchange does not utilize additional margin from your available balance. This setup is particularly suitable for novice traders seeking to minimize risk and contain potential losses. With Isolated Margin, traders can effectively manage their positions without risking their entire account balance, providing a safer trading environment for those who are new to margin trading.

Automatic Margin Replenishment (AMR)

Automatic Margin Replenishment (AMR) is a feature designed to prevent liquidation by automatically adding margin to open positions. When enabled, if a position margin level approaches the maintenance margin level, Bybit will replenish the margin from your available balance. It important to use this option judiciously, considering the inherent volatility of the cryptocurrency market. While AMR can help safeguard positions from liquidation during price fluctuations, traders should exercise caution and monitor their positions closely to ensure effective risk management. On Bybit, fees are divided into two categories based on whether you a market maker or a market taker

Market Makers: If you place a limit order on the order book and await execution, you qualify as a market maker. For this, Bybit charges a commission of 0.025% of your trade.

Market Takers: When your order is executed immediately without being placed in the order book, you considered a market taker. In this case, Bybit applies a commission of 0.075% to your trade.

Additionally, Bybit imposes a funding fee exchanged between buyers and sellers, calculated every 8 hours at 00:00 UTC, 08:00 UTC, and 16:00 UTC.

Bybit prioritizes security to ensure a safe trading environment for its users.

The platform maintains an insurance fund to address contract settlement issues, enhancing confidence among traders

Furthermore, Bybit implements mutual insurance, a risk management tool specifically for the BTC/USD pair, adding an extra layer of protection against potential risks.

On the individual account level, Bybit offers 2FA authentication through the Google Authenticator app, enhancing security measures and safeguarding users’ personal information.

Bybit stands out in the realm of margin exchanges by offering exceptional customer support services. With live chat support available 24/7, Bybit ensures that users receive timely assistance whenever needed.

During our testing, the wait time in the queue was approximately one minute, and the customer service representative efficiently addressed all inquiries, providing comprehensive assistance and information. This dedication to customer support distinguishes Bybit from many of its competitors in the industry.

Know Your Customer (KYC)

Bybit operates as a cryptocurrency margin exchange and, like many others in the industry, does not mandate Know Your Customer (KYC) procedures for trading.

The team at Bybit acknowledges the dynamic nature of the blockchain and cryptocurrency sector, noting that most countries have yet to establish comprehensive regulations governing cryptocurrencies. However, Bybit emphasizes the significance of regulatory compliance and is actively pursuing opportunities to secure appropriate licenses.

It important to note that while Bybit does not currently require KYC, regulatory landscapes and requirements may evolve over time, and the exchange remains committed to adhering to any future regulatory standards that may arise.

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