OVERALL SCORE
3.5
☆☆☆☆☆ 3.5/5
Main Features
- Multiple bonuses available
- Offers leverage of up to 1:100
- No KYC necessary to start trading
- Trading competition with 200 BTC in prizes
Bybit has been around only since 2018, and offers only four cryptocurrency pairs. That said, there are multiple order types; they offer adjustable leverage that can be changed even while the trade is running, and their WSOT competition draws in participants with a 200 BTC price pool. Another benefit Bybit has is that it is entirely anonymous; you do not have to do any KYC and sign-up is as simple as using an email or phone number. Being a crypto-centric platform, only crypto deposits are available so it’s not ideal for someone new that doesn’t hold crypto already.
Pros and Cons
PROs
- 1:100 leverage is available
- Full anonymity: no KYC is necessary
- Leverage can be edited while the trade is open
- WSOT trading competition with 200 BTC prize pool
- Rewards Hub with different bonuses and fee reductions
- Platform can handle 100,000 transactions per second
- Withdrawals are processed 3 times per day
- Extensive market data is available
CONs
- Accepts only crypto deposits
- Platform is not easy to navigate
- Limited range of crypto pairs
Opening your account
Step 1
Click Register and select either email or mobile registration
You’ll need only to provide either an email address or mobile number and then select a password to proceed — you’ll need to verify whichever method you choose to complete your registration
Step 2
Tick the box on the pop-up, agreeing to the Risk Confirmation
Step 3
Next, you’re prompted to redeem a bonus from the Rewards Hub
- Claim a $5 Twitter bonus (follow and retweet pinned tweet)
- Claim a $50 coupon on a first deposit ≥0.5 BTC
- Claim a $20 coupon on a total deposit ≥1 BTC
*These are processed manually and can take several days to reach your account
Step 4
Once you’re signed in, go to My Assets by clicking on your email address or mobile number, and then click on Buy Crypto to deposit BTC, EOS, ETH, XRP or USDT
Cryptocurrencies
- BTCUSD
- ETHUSD
- XRPUSD
- EOSUSD
Fees
- 0.075% taker fee per order
- 0.0005 BTC withdrawal fee
