Bybit is a cryptocurrency exchange that supports a large number of digital currencies, has low transaction costs, provides a pleasant trading experience for its customers, and prioritizes their safety. Its prices are low in comparison to the market, and it has a solid reputation for safety. The exchange provides a number of useful services, including the ability to leverage trades, cold storage wallets, cheap fees, and a responsive customer service team. Bybit is an option to explore if you need a safe place to trade cryptocurrencies. To sweeten the deal for its consumers, the exchange also provides incentives and bonuses. It is essential for every trader to find a cryptocurrency exchange that meets all of their requirements. Here is a quick Bybit exchange review:
- With over 135,000 tps, it has one of the quickest processing times in the industry.
- Up to 55 different fiat currencies and 547 different payment options are supported.
- Credit card payments are accepted for all purchases made on the site.
- Enables spot trading with $3.4b daily trading volume, 60 listed tokens, and 371 trading pairings
- Allows buying and selling of Inverse Perpetuals, USDT Perpetuals, and Futures
- Crypto loans from Bybit have interest rates as low as 0.0002% per year, and can be used for any purpose inside the Bybit ecosystem.
- You also gain access to one of the largest zero-trading-fee campaigns in the business.
Table of Contents
The Top Trading Markets
After extensive study, Traders Union has compiled this list of the 2 best cryptocurrency trading platform:
US
Pionex, a Singapore-based exchange that launched this year, has quickly gained online traction because of its low fees and a robust suite of 16 automated trading tools. The United States branch of the site, Pionex.US, supports just spot trading and provides access to a total of 11 bots, but it is still the most comprehensive automated solution for trading cryptocurrencies. Last but not least, spot trading on Pionex.US, like their global equivalent, have low maker/taker fees. These vary from 0.05% to 0% depending on the cryptocurrency pairing and are charged for both human and automated trades.
Bitstamp
Bitstamp features free bank account transfers, robust security, and is known for its low maker/taker fees. Bitstamp’s maker/taker fee structure is among the most competitive in the United States, with fees ranging from 0.30% to 0.00% and 0.40% to 0.03%, respectively. In addition, there are no trading costs for those whose 30-day trading volume is less than $1,000, which is a huge bonus for less serious traders. Bitstamp has a proven history of safe and open operations. It has a BitLicense and was the first cryptocurrency exchange to be granted one by the European Union’s Payment Institutions Directive.
A Trustworthy and Safe Place to Trade Cryptocurrencies
Keep a watch out for fraudulent websites and mobile apps when searching for a cryptocurrency exchange. Inspect the copy for any typos or illegitimate logos. If you’re visiting a website, look for a small lock icon in the address bar to ensure it’s secure. Cryptocurrency trading is risky regardless of the presence or absence of frauds. Even the most astute investors can’t foresee the cryptocurrency market’s unpredictable price swings because of the asset class’s high volatility. If you decide to invest in cryptocurrencies, experts advise keeping your exposure to less than 5 percent of your whole portfolio.
Parameters for Bybit Security
When compared to the industry standard of 15%, Bybit invests 20% of its annual budget into protecting the platform. It uses ‘cold wallets,’ which have built-in sophisticated security management, characteristics, and measures, as opposed to ‘hot wallets,’ which are used by the vast majority of other exchanges. Each and every one of our deposit addresses is a cold wallet. Asset transfers and withdrawals are carried out offline with signed documentation. As a means of risk management, traders are only allowed one withdrawal per eight hours, despite the fact that their requests go through three levels of verification and manual reviews every day. As told CoinGape, Bybit’s strategy for centralizing crypto-assets is extremely severe in terms of things like system security, physical environment security, authentication of operations, encryption methods, monitoring, and auditing. In accordance with its privacy policy, it safeguards users’ data and personal information. When it comes to internal security, the platform’s staff receives extensive training and evaluation.