Bybit is one of the top cryptocurrency exchanges in the market and offers outstanding features that both experienced and novice parties can use. This crypto exchange is a peer-to-peer (P2P) trading platform and offers perpetual futures products.
It is a well-known crypto exchange that is a popular option for every interested crypto investor and trader. One of the highlighting factors about the platform is that it has the highest trading engine capacity than some of the biggest platforms in the world.
As compared to Deribit and BitMEX, with 10,000 and 500 transactions per second (TPS) respectively, Bybit has the capacity to handle 100,000 TPS without interruption or failure.
There are several other features to know about the Bybit exchange as are mentioned below. If these details match your criteria and trading requirement, you can consider using the exchange for buying or especially trading crypto.
Customer Support Offered by Bybit
The Bybit exchange is one of the crypto platforms that focuses on offering impeccable and active customer support to the users. A platform that has a team of experts, available to assist the users at any time can make quite the difference, especially for beginners.
This is one of those exchanges where users can easily reach out to the customer support agents without any inconveniences. The availability of the customer support services around-the-clock makes it one of the best platforms. The customer support extended by Bybit is one of many reasons why a wide audience and crypto enthusiasts prefer using the exchange if it is available to them.
Fee to be Paid by Users
The fee charged by an exchange is as equally important as any other aspect of the platform. Knowing about Bybit fees is not only helpful. But also crucial for you as it can help you determine. Whether the required fee is within your criteria or not.
However, it is also important for you to know that this exchange is known for charging one of the lowest fees in the market. Which automatically makes it a favorite among crypto investors and especially traders.
This exchange also follows the market maker and taker fee model. Here are the details of the fee you will be required to pay if you choose Bybit.
- 0.02% / -0.02% funding rate
- 0.0005 BTC withdrawal fee
- -0.025% market maker fee
- 0.075% maker taker fee
Testnet of the Exchange
The testnet can be considered as a safety net for people who are interested in starting crypto trading. But are somewhat skeptical about using the Bybit exchange. The testnet has a user-friendly interface that allows the users to try out the exchange without using actual money.
As a user, you can check the services offered by the exchange through the testnet. This will give you a good idea regarding the kind of features you will get and expect. If the exchange and its services seem suitable to you. You can then decide to use the platform and start trading crypto by using real money and you can begin by depositing real Bitcoin as well.
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Data Analysis Tools on the Platform
Analyzing the crypto markets is important for people who want to start trading crypto. There are numerous aspects to be familiar with if you want to start trading digital assets. In such a case, analyzing the market can make the overall experience easier and possibly a bit more beneficial.
This is something Bybit works on. Which is why it provides various data analysis tools that are especially helpful for people who are new to crypto trading.
The tools available for data analysis at the Bybit exchange are mentioned as follows:
- Rolling volatility that gives the realized volatility over the last month in comparison to the average of the said time duration.
- Monthly price range that enables users to take a look at an instrument’s price and its ups and downs in a month.
- Daily realized volatility that shows the actual volatility over a period.
- Price moving averages that show the movement of Bitcoin and other moving average indicators for different timeframes.
Trading with Leverage on the Exchange
Leverage trading is one of the most prominent aspects that immediately catches the eye of the traders. This type of trading is beneficial but it comes hand in hand with the possibility to suffer from huge financial losses. However, the possibility of losses can be minimized. If you step into it with proper information and by using a suitable exchange such as Bybit.
This exchange offers a leverage of up to 100x, which is one of the highest leverages in the crypto market.
Bybit is one of the exchanges that stands out among its competition. Thanks to its features and how it caters to the needs of experts and beginners. If you are also interest in using this platform then you should have the above-mentioned information.