( Updated 18/8/2022 ) In our “Bybit Review,” we found some interesting things. 1st among them is that Bybit is fun to use! Hence many crypto exchanges can be somewhat unintuitive. This is not the case with Bybit.
It feels in some ways very similar to Binance, but with a margin/leveraged trading point of view. Easy to view your balance/positions on the screen. As well you can set different visual options with their interface.
The Bybit interface is straightforward visually and has an excellent look at feel. Hence we note the speed of this crypto exchange as well.
Bybit is a cryptocurrency derivatives exchange that competes with the likes of Bitmex, Deribit, Binance, PrimeXBT, and others in the space.
Thus we wish to clearly examine how they work and what they offer you as a crypto trader. In this Bybit Review, we look at both Bitmex and Bybit in comparison.
Are they Legit!?
Trust #1 with a new exchange in our Bybit Review we find them to be trustworthy. Comparatively No funny business has been reported and as you can see below the site is secure, up to date and all certification is in place.
Most Bybit Reviews will miss a few interesting notes about them. Such as they are incorporated in the British virgin Islands back in March 18th, 2018.
On of the great features of this Bybit Review to note that outside of the 100x leverage they offer on their platform is the quarterly futures contracts that have no funding fees.
The Bybit matching engine is said to be capable of over 100,000 TPS (Transactions Per Second). Hence is an amazing feat for the future growth of their platform already laid out ahead of time.
Since the start of its operations, Bybit has focused on increasing the speed and quality of their transactions. To many users not only find their platform easy to use but enjoy the work they made to the speed of this cryptocurrency exchange. This Bybit review takes this into account.
Bybit Review: Fee & cost structure
Such as Bybit pricing is pretty straightforward as Bybit like many others use the Bitmex model of 0.075 takers and -0.025 maker fee structure.
As with many other exchanges Bybit has 100x leverage on their crypto trading contracts.
The above image shows easy to read and understand take profit/stop loss structure.
Easy-to-use trading interface
As noted below the interface for Binance users will have a sense of familiarity. Very straightforward and speedy for Bybit users.
Another thing to note is that Bybit takes several different coins for deposit. As well Bybit has a method of conversion for users of Fiat currency.
The other cryptocurrencies that Bybit takes outside of BTC are ETH, XRP, EOS and USDT.
As well noted below is the FIAT gateway of Bybit. A very neat feature indeed!
The simplicity of users being able to convert FIAT to Crypto can’t be understated. Unlike Bitmex which only takes BTC alone.
Bybit Review In conclusion…
In our Bybit Review, we note the exchange is very straightforward, with not many bells and whistles. If you want a quick and easy derivatives exchange outside of Bitmex, then check out Bybit!
- Easy-to-use trading platform
- Speedy transaction speeds
- Multiple coins for deposit
- Easy to use FIAT Gateway
As we have noted in this review Bybit has done a good job with very few complaints listed. The high degree of uptime and happy users.
Bitmex vs Bybit, what the _uck!
So I will end the article with my favorite platform to trade crypto on… Bitmex is by far the most professional and solid platform, with only Coinbase coming close. It makes me physically ill to see what has happened to them through ego and mismanagement and absolute corruption by their owners. Hence why Bybit Reviews and competition are taking off.
WTF were you thinking you stupid MFing losers! You had the best technology and platform ever for Crypto and still, it is the best ever in the crypto space period… I repeat PERIOD! But because they could not resist the manipulation and absolute grift vs their customers, which is absolutely pathetic. You actually hurt the crypto community instead of supporting it, shame on you! You are no friend to the crypto community and will go down as manipulating scum and deserve the title. Now we have a Bybit Review that puts more nails in the coffin for Bitmex.
For context, I am speaking of not only the founder but also the co-founders Arthur Hayes, Samuel Reed and Ben Delo were all charged by the U.S. Department of Justice with violating the bank secrecy act. They knew that their platform was full of Americans using VPNs on their exchange, if they wish to lie ok. Lot of good it will do them now as they are all being charged and booked in the U.S. for their crimes. We repeat our Bybit Review vs Bitmex, it is just sad.
All of this could have been avoided if they were not so damn greedy! Not only is the manipulation vs their customers so f-ing obvious! So were they ignoring the warnings over and over the U.S. government gave them, which obviously they ignored! The f-ing nerve! Pure stupidity! They take the best technology in crypto and destroy it, allowing a second-rate Binance to take over, yeah Binance’s platform to a real trader = garbage. We don’t see in our Bybit review any signs of manipulation or taking on U.S. customers.
Bitmex best crypto trading platform PERIOD!
This platform is the best trading platform in the crypto period! I will repeat this as it is 100% true. Bitmex with their absolute stupidity destroyed their future. The platform now has such a dark stigma, which will be extremely hard to overcome. Who wants to be part of a platform that the founders are all going to prison over? No matter how great it is, they are done for now.
This is very sad because the tech behind Bitmex is not only solid and functional to the upteenth degree but it is the best out there. Another platform could learn more than a thing or two from Bitmex. They built a real fintech solid quality product only had by some of the biggest firms, such as Bloomberg or interactive brokers for example. It just makes me sick how they destroyed it by greed stupidity and corruption.
Sucks that I have to repeat this but I am stupified by what they did. They not only manipulated their own customers by trading against them with their in-house market makers along with the BS with the platform being down. Everybody knows which is 100% my opinion that they took it down in order to manipulate orders and order flow. Another reason karma catches up with them. Like the Leonard Cohen song “Everybody knows!” The song holds true here and hey it is between them and God imo. No joy in having to compare Bitex vs Bybit review..
They will have to deal with what they have done, karma is a b*tch, but she always gets paid! Very simple and now they are learning the hard way. All they had to do was comply with the U.S. Gov, along with actually talking to them instead of ignoring them as they did. The gall *shakes head…
I have HOPE!
I can hope and dream maybe the platform will be taken over by more ethical people in the future. Arthur Hayes and gang are persona non grata. I mean I love the platform, as a trader, you can’t find better and it hurts to think this perfect technology was used not only against their customers but themselves!
Let us hope they are taken over by a professional group who can use the tech, either by licensing it or buiding a new brand beyond shattered Bitmex name. It could be a hard road for them if they just continue with new managment. The stigma is still there and complaints from certain events on the platfrom still being reported over and over again. The owners would be wise to sell to a more professional group who wishes to go mainstream.
The negative is the U.S. government takes their marching orders from wallstreet and limits derivatives trading/platforms which pushes them underground, hence making U.S. customers use VPNs and such to trade. Lot of good it did them with the same attitude with digital currencies like Bitcoin huh? So I have hope simply put.
I think they can do it! The Bitmex software is that GOOD! It is that easy to use and that solid security wise. You won’t get better, at least I have not seen better to date.