Hello crypto traders. Today I will review the crypto exchange Bybit and compare it with other exchanges, in particular Bybit. I will tell you how they differ from each other, what are their advantages and disadvantages, and also what is better for a trader to choose for their cryptocurrency trading. Here we go.
Bybit crypto exchange review
In 2021, Bybit confidently occupies the TOP and 5 leaders among crypto exchanges. This platform was created in 2018 and offers cryptocurrency derivatives trading services. If tell simple, you can trade crypto futures on Bybit. The first advantage is that, unlike, for example, Bitmex, not only Bitcoin, but also other coins are available here.
So BTC can be traded with 100x leverage. BCH, ETH, and LTC are available with 50x leverage, while Link and XTZ are available with 25x. The second important advantage over any other exchanges is a usability interface for opening Long (buy) and Short (sell) positions. You can move orders right on the chart in Bybit, close and open deals, which is very comfortable!
Features of the Bybit exchange
The third advantage is a Conditional Order, which is available only on this exchange, when, like for other exchanges, you need to create additional orders or use third-party terminals for trading. A conditional order allows you to buy or sell a token at the desired price when it is reached. This order is useful when you suppose that price will break support and resistance levels.
For example, now the price of Bitcoin is 48,000 USDT and you want to enter a trade at 50,000 USDT, but if you create a Limit Order for 50,000 USDT, it will work as a Market Order – in fact, you will buy at a higher price than the current price. But the Conditional Order will be triggered when the price reaches the 50,000 USDST level. The same works for selling, just the opposite.
Bybit and Bitkub
The fourth advantage is that compared to the Thai exchange Bitkub, you can exchange Thai Baht for USDT and USDT for Thai Baht right here! At the same time, the exchange of THB to USDT is fast and with minimal fees. And most importantly, there is no procedure for passing user identification (KYC) and linking personal data to a local bank.
The fifth advantage is the high speed of Bybit and without delays, increases your chances of earning when trading crypto futures. And also, in comparison with the spot market, there is an opportunity here to make money on the fall of the market with leverage. The sixth advantage is that Bybit has support for the Smart Terminal and 3commas bots, while Bitkub does not have such an option.
The video review about the Bybit exchange is coming to the end. I told you about the features and advantages of this platform and compared it with other exchanges. It should be noted that the Bybit cryptocurrency exchange is constantly evolving and will provide support for futures trading with new tokens and new opportunities. That’s all until new videos on botcryptotrade.com