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BYBIT Review – The new Bitmex? “Powerful Options Exchange”
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BYBIT Review – The new Bitmex? “Powerful Options Exchange”

by Rico ChetteJanuary 21, 2021

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.

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The Bybit interface is straight forward visually and has a nice 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, FTX, Binance, PrimeXBT, and others in the space.

Thus we wish to clearly examine how the work and what they offer you as a crypto trader.

Bybit Review

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.

Bybit Review Trust Score

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.

British Virgin Islands

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 future growth of their platform already laid out ahead of time.

Since the start of their operations Bybit has focused on increasing the speed and quality of their transactions. To which many users not only find their platform easy to use but enjoy the work they made to the speed of this cryptocurrency exchange.

Bybit Review: Fee & cost structure

Such as Bybit pricing is pretty straight foward as Bybit like many others use the Bitmex model of 0.075 taker and -0.025 maker fee structure.

As with many other exchanges Bybit has 100x leverage on their crypto trading contracts.

Order Screen

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 straight forward and speedy for Bybit users.

interface

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 crypto currencies 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!

Bybit Fiat Gateway

The simplicity of users being able to convert FIAT to Crypto can’t be understated. Unlike Bitmex which only takes BTC alone.

3 simple easy steps

Bybit Review In conclusion…

The exchange is straight forward, with not much 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. High degree of uptime and happy users.

Positives

° Easy to use trading platform
° Speedy transaction speeds
° Multiple coins for deposit
° Easy to use FIAT Gateway

Negatives

° Limited selection of perpetual & futures to trade

Rating
Our Rating
User Rating
Risk:Reward
9.3
Support
9.1
Quality of Materials
9.5
Understandability
9.8
Transparency
9.4
Bottom Line

This may be a no frills derivatives exchange, but for those worried about Bitmex's future. At least you have a good options here of an Exchange that is quick easy to use and has multiple deposit options for users.

9.4
Our Rating
User Rating
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About The Author
Rico Chette
Ricco Chette is nothing like what you could imagine, a fighter for the lost, weak and marginalized. Rico blazes a trail of truth often with a bullet or a glass of wine. You might think you know Rico, but you don’t… Lover of Crypto, Freedom and the Truth. Hear HER ROOOOAAAR!!!

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