Home Crypto Major Details New Users Should Know About the Bybit Platform

Major Details New Users Should Know About the Bybit Platform

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Bybit Platform
Major Details New Users Should Know About the Bybit Platform

The Bybit platform is one of the top cryptocurrency exchanges in the industry. It is a well-reputed and widely used trading platform that supports margin trading as well. This exchange offers some of the best features to the users, making it an outstanding option for a vast audience interested in trading, especially the ones who are inexperienced.

This is one of the best crypto trading platforms in the market. However, any one looking to use it for trading crypto should be familiar with some of the prominent features it offers to the users.

Therefore, the information mentioned below circulates around details such as Bybit platform fees and security to help give an idea to all potential users as to how suitable the exchange is for them to use.

What is the Bybit Platform?

This cryptocurrency was established in 2018 by Ben Zhou. It is a peer-to-peer (P2P) crypto trading platform that is supported by a team comprised of professionals. This exchange is a powerful and capable trading platform that handles the highest transactions per second (TPS) among its competitors, which is 100,000 TPS.

This exchange is based in Singapore but extends its services to more than 1.6 million active users all across the globe. If you are also interested in using the Bybit platform then you need to know more details mentioned below.

Customer Support Services

One of the most prominent attributes of the crypto exchange is the customer support services to offers to the users. Choosing an exchange that offers high-end customer support is a good decision, especially for the new users.

As an inexperienced trader there might be several aspects you may be unfamiliar with. Any unexpected challenges and can catch you off guard and make crypto investing and trading difficult for you. However, in such a case if you have the assistance from professional customer support agents you can tackle the obstacles and challenges timely and have a good user experience.

The Bybit platform is famous for offering impeccable customer support that is available 24/7. The customer support agents are experienced, multilingual and there is a live chat feature that allows the users to reach out to the agents immediately.

Security Systems Offered

The matter of security is yet another major aspect that needs to be considered by the users before they opt for an exchange. It also applies to Bybit, however, as a new user of the exchange you should know that it is one of the safest exchanges in the industry. This platform makes sure that every trader, experienced and inexperienced alike, can have a safe and stress-free experience of trading crypto, without worrying about their funds and accounts.

This is why, the Bybit platform implements some of the top security protocols to offer utmost security such as cold wallet storage, KYC (know your customer) verification and more.

Therefore, if using a secure exchange is your priority then Bybit can be a suitable option for you.

Fee Charged by the Exchange

Another prominent aspects users to need to explore before using the exchange is Bybit platform fees. The fee charged by an exchange should be thoroughly explored as not every exchange charges a fair and transparent fees.

Some platforms in the market charge a very high fee, which also includes hidden and additional charges. However, the Bybit platform is known to charge one of the lowest fees in the industry, which is also free of any kind of charges that are not disclosed beforehand.

The fee structure is simple and details of that are mentioned below.

  • 075% trading fee for market takers
  • -0.025% trading fee for market makers
  • 0005 BTC withdrawal fee
  • 02% / -0.02% funding rate

Leverage Offered

As mentioned above, Bybit is one of the platforms that supports leverage trading. This exchange not only enables users to trade with leverage but also offers one of the highest leverages in the market.

Different platforms offer different leverage ratios and people who want to trade with leverage should take a look at the leverage offered before they opt for it.

The Bybit platform offers a leverage of up to 100x.

Copy Trading

Another outstanding and prominent aspects of the Bybit exchange is its newly launched copy trading feature. It is already a user-friendly crypto trading platform and aims to make trading easier for all traders.

However, the platform has been made even more impressive by introducing the copy trading feature. This allows new traders to choose a professional trader from an available list and automatically copy their trades, getting the same benefits and losses as the trader they copy. While this feature is available for all traders, whether experienced or those who do not have enough time to actively trade, it is mostly used by new traders.

Conclusion!

The Bybit platform is one of the top options for all crypto traders, especially those who are new to the trading platform. However, every new user needs to take a look at the details mentioned above before they opt for it to know if it is a suitable platform for them or not.

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