The cryptocurrency exchange Bybit is rapidly accelerating, gradually outpacing its competitors. Beyond classic trading, it offers the possibility to trade with leverage up to 100x. The exchange often conducts contests where it distributes tokens and, most importantly, enables its clients to earn additional income.

This article delves into everything essential that you need to know about the cryptocurrency exchange Bybit.

The cryptocurrency exchange Bybit is implementing mandatory verification for spot trading starting from 05.08.23. Therefore, if you wish to trade and exchange money on this exchange, you must complete it.

Cryptocurrency Exchange Bybit: Advantages and Disadvantages

The cryptocurrency exchange Bybit was founded in 2018 and registered in the British Virgin Islands. Currently, the company's main office is located in Singapore. Interestingly, this exchange does not accept clients from Singapore, but you can apply for a whitelist, and you might be allowed to register.

The main specialization of the exchange is the trading of perpetual derivative contracts on cryptocurrencies. For some assets, leverage up to 100x is implemented. Despite this, classic spot trading is also available.

Bybit is an international exchange. Clients from Europe, Russia, Southeast Asia, and North America can trade, but citizens of the USA cannot use the services of this exchange.

Let's move directly to a series of advantages and disadvantages of the cryptocurrency exchange Bybit.

Advantages:

• Simple interface. The exchange is convenient and easy to use. It is pleasant to use and simple for beginners to learn. It's worth noting that there is an option to use an advanced tool for charting from TradingView;
• Cross-platform. The cryptocurrency exchange Bybit is available both in a Web version and in mobile applications for Android and iOS. Additionally, trading can be done via API;
• Low fees. The exchange boasts low transaction fees, as well as withdrawal fees;
• Security. The security level of the exchange is high thanks to the cold storage of the majority of clients' assets;
• Educational materials. For beginners and not only, the exchange has prepared educational materials that will help get started with the exchange;
• Contests and giveaways. Another advantage of this exchange is frequent contests and giveaways, where you can win currency or tokens.

These are not all the advantages of this exchange. It would take quite a lot of time to list them all here.

Disadvantages:

• Low liquidity. As the exchange is only gaining popularity, trading is relatively slow compared to other exchanges.

As you may notice, the exchange has a wide range of advantages that cover the few disadvantages.

Internet Reviews about Bybit Exchange

What are people saying online about the Bybit exchange? Let's find out.

Overall, the impression from reviewing the feedback is positive. Of course, there are negative reviews, but we consider them to be insignificant.

Our personal opinion is as follows: this exchange is a good alternative to Binance after the sanctions imposed on Russian citizens. We are switching to the Bybit exchange and might leave our review soon.

Instructions for Using Bybit Exchange

We have prepared some instructions for using the exchange to help you start using it more quickly.

Conclusion

Bybit is a newcomer among cryptocurrency exchanges, but its popularity is rapidly increasing, which is pleasing.

We did not forget to include brief instructions for using the exchange, which will help you start using it more quickly.

Besides having a wide range of advantages, for Russian citizens, the main one would be replacing Binance after the imposed sanctions.

Write in the comments: do you trade on Bybit.com? Share your impressions with our partners.

We hope this article was useful to you. We wish everyone successful and profitable investments!