ByBit

Advantages and disadvantages

I have been actively using ByBit for over 6 months to trade cryptocurrencies - Bitcoin, Ethereum and other altcoins. During this time, I was able to thoroughly study the functionality and features of this exchange.

Registration and verification

Registration takes only a couple of minutes - you need to come up with a password and indicate your email. Verification goes quite quickly.

For extended verification, you will need to indicate and confirm your identity - provide a scan of your passport and a selfie.

Deposit and withdrawal of funds

On ByBit you can deposit in BTC, ETH, USDT, BUSD. The minimum amount is 1 USD.

Withdrawals occur quite quickly, usually within a few minutes. The commission is 0.0005 BTC.

Trade

The following main instruments are available on the exchange:

Futures

Futures contracts with leverage up to 100x

Spot trading

Spot trading spreads range from 0.05% to 0.5% depending on the pair.

The interface is convenient, there are all the necessary tools for analyzing and opening transactions - charts, order book, trading history, etc.

Commissions

One of the main advantages of ByBit is low commissions compared to other exchanges.

Here are ByBit’s standard fees:

Spot trading: 0.075% maker, 0.075% taker

Futures: 0.025% open, 0.075% close

Options: 0.03% to open, 0% to close

Conclusion

ByBit is a good exchange for trading with low commissions and ample opportunities. User-friendly interface, high execution speed.

The downside is the limited selection of cryptocurrencies.

Overall, I recommend ByBit for trading - I use it as one of my main exchanges and plan to continue.

Timur Beketov

Author