Bybit

Based in: Dubai
Founded: 2018
URL: https://www.bybit.com
Rating: 7/10

Bybit is generally considered trustworthy with some caveats.

Key Facts

Bybit is a cryptocurrency exchange that has gained significant traction since its inception in 2018, especially among traders who are focused on derivatives and margin trading. Known for its high liquidity, user-friendly interface, and advanced trading features, Bybit has become one of the most popular platforms for traders seeking to engage in leveraged trading of digital assets like Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies. The platform is designed to cater primarily to more experienced traders, offering a range of advanced tools for executing trades, managing risk, and analyzing market data.

One of Bybit’s most notable features is its focus on derivatives trading. The platform offers perpetual contracts for various cryptocurrencies, including Bitcoin and Ethereum. Perpetual contracts allow traders to speculate on the price movements of digital assets without an expiry date, unlike traditional futures contracts. Bybit also provides leverage of up to 100x on certain products, allowing traders to amplify their positions and potentially increase their profits. However, this high leverage also comes with greater risk, making it essential for traders to be cautious and well-versed in risk management strategies.

Bybit also provides spot trading services, enabling users to buy and sell cryptocurrencies directly. While the platform is known for its strength in derivatives, it also supports a growing number of spot trading pairs, allowing traders to easily access a range of digital currencies. The platform’s trading interface is sleek and intuitive, featuring real-time charts, advanced technical analysis tools, and various order types such as limit orders, market orders, and conditional orders. Bybit also offers a mobile app for both iOS and Android, making it convenient for traders to manage their portfolios and execute trades on the go.

In addition to its core trading services, Bybit also offers margin trading, which allows users to borrow funds to increase the size of their positions. This enables traders to open larger positions than they would otherwise be able to with their available balance. Bybit supports isolated margin and cross margin trading, offering flexibility for users who want to manage their risk exposure. The platform also features an insurance fund, which helps cover losses in the event of a liquidation, ensuring that users' losses are minimized under certain conditions.