Today, not participating in the cryptocurrency market represents the loss of one of the greatest opportunities of our lives. And it is that, since the beginning of the great bullish rally of Bitcoin, the main cryptocurrencies have entered an upward trend that we can take advantage of to generate profits. However, for this we need an exchange that we can count on to carry out our operations. That is why today we bring you the review of the Bybit exchange, one of the best exchange platforms today, specialized in future contracts.
Bybit Basic Data
Foundation year: 2018
Minimum deposit: Does not have
Currently, there are dozens of derivatives of the cryptocurrency market available to investors around the world. Including, of course, options, leveraged tokens, and cryptocurrency futures contracts. Futures contracts being precisely the product in which Bybit specializes, allowing its users to buy contracts on the main cryptocurrencies in the world.
In this way, Bybit users will be able to acquire Bybit’s perpetual future contracts. Currently having a contract offer that covers the main cryptocurrencies in the world, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tezos, Link, Cardano, Polkadot and Uniswap. As well as reverse contracts, in which unlike linear contracts, the margin, profit and loss are calculated on the underlying asset, such as BTC or ETH.
With the aim of providing better usability when carrying out operations, Bybit offers its clients a comfortable and intuitive trading experience. Providing all the technical tools necessary to successfully conduct your operations. Allowing the quick visualization of market information, as well as the opening of purchase and sale orders. In addition to offering a night mode for those traders who usually operate at night.
Finally, Bybit also offers its users the possibility of carrying out decentralized cryptocurrency swaps through the exchange. These exchanges are powered by Chainlink and are currently available for Bitcoin, Ethereum, EOS, XRP, and USDT, with a fixed fee of 0.1%.
Deposits and withdrawals
Starting operations on the Bybit platform is a very simple process, with no minimum deposit amount, so you can start investing with just $ 1. For which, the exchange offers you the option of making your deposit in cryptocurrencies, which in fact facilitates the participation of users from all over the world, since they do not need the local currency of a specific country to work with Bybit.
Thus, you can deposit funds using Bitcoin, Ethereum, EOS, XRP and USDT or you can make a deposit in fiat using one of the exchange’s allied platforms, Banxa, XanPool, MoonPay and Mercuryo, who will receive your fiat money and convert it into BTC , ETH or USDT that they will deposit in Bybit. Normally this process takes between 2 and 3 hours.
Regarding withdrawals, Bybit processes withdrawals at three specific times of the day, 8:00 a.m., 4:00 p.m., and 00:00 UTC. Once your withdrawal request has been successfully processed, it will be executed manually in the next 2-3 hours. The minimum withdrawal per cryptocurrency is 0.001 BTC, 0.02 ETH, 0.2 EOS, 20 XRP, and 10 USDT. While the commission to pay for withdrawal is 0.0005 BTC, 0.01 ETH, 0.1 EOS, 0.25 XRP, and 10 USDT.
Registration on the exchange’s platform is very simple. You can do it either from your computer or through the Bybit application. Only needing a few minutes to complete the entire process, from which you can deposit funds into your account and start performing operations.
Likewise, and to increase the profits of its users, Bybit offers high leverage in operations with future contracts. It can be as high as x100 leverage for USDT perpetual contracts. If we carry out operations with isolated margin, we can choose a lower leverage, while if we operate with cross margin, it will be the highest possible by default.
Finally, one of the most interesting characteristics of Bybit is the amounts of its future contracts, since they reach figures as low as 1 dollar. Counting with sufficient liquidity to accept all our purchase and sale orders. So our capital will not be a problem to operate and start generating profits.
The sector of futures contracts and other derivative products related to cryptocurrencies is going through its best moment. Offering investors in the crypto market the opportunities to generate large profits in a short time, as long as they have the right exchange for it.
And in this case, after analyzing the Bybit platform, we can say that it is one of the best on the market to carry out operations with this type of product.