Bybit Review, Is it Safe? Rewards and Bonuses

 By Deya Hroob

Table of Contents   1.   What is Bybit? 2.   Reasons to Trade in Bybit? 3.   Bybit Promotions Rewards Hub 4.   How to Buy Crypto with Credit Card at Bybit? 5.   Trade Spot with Zero Maker Fees 6.   Is Bybit Safe?

What is Bybit?

It's a cryptocurrency Exchange, established in March 2018, with more than 2 million registered users so far. The team behind Bybit are professionals from the foreign exchanges and investment banks.

Bybit offers both Derivatives products and newly Spot Trading.

Reasons to Trade in Bybit Exchange?

Dual-Price Mechanism

Bybit proved to be the best place to trade in for many reasons. My best and main reason to trade in Bybit is Dual-Price Mechanism.

Bybit deploys this technique to prevent traders from unfair liquidation which is every trader's nightmare and protect traders from market manipulation. Dual Price Mechanism consists of Mark Price and Last Traded Price.

In summary, with the Dual-Price Mechanism, it minimizes the price discrepancy and ensures a fairer trading environment, as well as protecting traders from malicious liquidation.

Bybit Promotions Rewards Hubs

Bybit has multiple bonuses and coupons to attract new customers. It has bonuses for new and current users. You can redeem your bonuses and coupons by doing simple tasks, for example : Actively trade for 7 accumulative days, Use Take profit/Loss feature at least once and Deposit for the first time.

Buy Crypto With Credit Card Instantly at Bybit

Bybit works with well-trusted fiat -to-crypto gateway solution partners, such as Banxa , Moonpay , Simplex and Mercury 

How to Buy Crypto with Credit Card at Bybit?

Step one: Click on Buy Crypto at the top as shown on the picture below.

Step two: Select the Crypto you would like to purchase and enter the amount or quantity, then choose your fiat gateway that suits you and click Buy .

Step three: At this stage, you will leave Bybit website and go to the fiat gateway website you chose. Your crypto will arrive in your account after your payment successfully completed. As an example, I choose MoonPay Gateway.

Trade Spot with Zero Maker Fees ( New Product )

Recently, Bybit launched a long waited product A new Spot Trading Platform. And the best part is that you can trade on spot market with zero maker fees :) .

In a spot trading you have a direct ownership of the underlying assets since crypto assets are transferred directly between buyers and sellers. 

Is Bybit Safe?

The answer is definitely yes. They take their security very seriously. They use their leading HD cold wallet system to guarantee the safety of your funds. Moreover, they never experience overloads, thanks to their ultra-fast matching engine.

I have never heard of Bybit's website downtime and for any queries you will get 24/7 customer service ready round the clock to help you out.