They have pretty much the same terms on their ETHUSD contracts and you can find more information about that here. This site uses Akismet to reduce spam. ByBit offers leverage up to 100X, this is the amount of funds you could borrow from the exchange. While there are many similarities between the exchanges, there are some unique features that Bybit have included that could make them attractive. They are well positioned to offer an alternative to the status quo in the crypto derivatives market. Concentrated exchange for high volume trading: How to claim Bybit welcome bonus of $90 (Video). There is no approval process. One more handy tool that you may want to check out is their position calculator. An international speaker and author who loves blockchain and crypto world. As you start using Bybit, you will also be able to learn more features that I have skipped intentionally, for you to discover. You can also consider using a mobile wallet like Samourai or Atomic to keep moving funds from your Bybit account to your own wallet. This will reward you with a percentage of trading profits that are generated by your traders. They differ according to what margin is used. These come with no strings attached and give you a realistic balance to trade with ($10,000). It does not take into account the equity levels and positions PnL that you have on other orders for the same trading pair. So for example, for ETHUSD contracts you will have ETH as the margin. Here are some of the most frequently asked question related to Bybit: Ben Zhou is the CEO of Bybit. However, when you have selected to cross margin it means that all available balances will be combined in order to prevent a liquidation. While all similar mobile apps from other exchanges look busy, Bybit mobile app looks simple and easy to use. On top of this, you have the option of making your limit order a “Reduce Only” order. It often runs various trading competitions in which you can participate, and win cash prizes. By the way, 100 USD in this scenario is called “Initial margin”. Try Mutual Insurance today! The derivatives exchange offers perpetual contracts that follow the cryptocurrency price. The exchange operates under Bybit Fintech Limited which is a company that is registered in the British Virgin Islands. Bonus must be activated by trading activity within 21 days after receiving the bonus, after which it will be forfeited. Bybit offers two margin mode, and you could pick any based on your preference. Bybit is the safest, fastest, most transparent, and user friendly Bitcoin and Ethereum trading platform offering cryptocurrency perpetual contracts With over 100,000+ users and multi-lingual support (English, Chinese, Traditional Chinese, Korean, and Japanese), Bybit currently is one of the top 3 cryptos derivatives exchanges. Bybit does not require KYC, and you can start using Bybit instantly after signup. This means that they cannot accommodate traders who would like to trade these type of derivative instruments. In terms of support options, you have a zendesk live chat function that is available on their platform. However, can such a new exchange really be trusted? Here, you can generate a new key that will be used to access the API. ByBit supports 5 high volume cryptocurrencies for trading, that includes BTC, ETH, EOS, XRP, and USDT. We will also give you some top tips when it comes to trading crypto futures. This means that all passwords and address information that you send them will be encrypted. Below are the min / max limits: In order to make sure that they always have funds available on their hot wallet, Bybit also has limits on daily withdrawals in total from the exchange. As such, when we look into the safety of an exchange, we are interested in their security policies as it pertains to their coin management, user security tools and of course risk management. The only caveat is it is not regulated, so there is always the risk which is a standard among all crypto derivatives exchanges. It is by far no-nonsense mobile app, with all necessary features. This involved several teams battling it out for up to $60k in prizes. If it is over 0.5BTC then they will throw you $50. Overall, in my review, I have found Bybit to be a solid exchange for everyday use. Each inverse perpetual contract is 1 USD in value. This contained some really handy graphs and charts that could help inform your trading. This can be relatively attractive if you can refer friends making a small amount of one time deposits but if you are looking to refer many more traders who usually do large trading volumes then you are perhaps better suited to signup for the Bybit affiliate program. The difference between the price at which the trader is liquidated and the bankruptcy price is how much will be sent to, or taken from, the insurance fund. The signup process is fast, and you are also entitled to get a joining bonus, that I have explained in the further section of our detailed ByBit review. This is especially true when it comes to a futures exchange where you are paying fees on positions that are much larger than your margin. Here is a list of the data that you are able to download as well as what it means: There is also a host of other data that you can examine in these tabs. Bybit is a cryptocurrency derivative exchange that launched its services at the end of 2018. You can get all of the technical documents about how to interact with the API from their GitHub. Of course, if your question is more routine in nature and not specific to your account then you can always make use of their extensive help section. We explain that below. Use only those funds that you need for trading. Honestly, we would suggest that you rather use Isolated Margin. If you have decided that you would like to give Bybit a go then you will have to create an account. In their about us page, the exchange claims that they have a team which is comprised of experts in blockchain technology and finance. For example, you cannot withdraw these funds and they can only be used as margin in your account. You can also pull up some of these charts and download the data. This let’s you calculate your your Profit / Loss and ROE on target levels. That is why Bybit has included a number of tools that will help protect your account from a hacker with your password. One of the most important things for the margin trader is to have an effective trading platform with advanced technology. The other fees that you will see when you open the trade is the funding rate. Below is all the other specifics of their BTCUSD contract. You can share this link online or on your social media channels. You can’t easily study charts and monitor numerous markets at the same time. While this may be annoying for some, you can easily convert your fiat currency into Bitcoin on a number of exchanges such as Bitstamp or Kraken. When you select Isolated margin, the margin that you have on the trade is applicable to only that position. We will touch on these features when we cover their trading technology. While exchange side protection is one thing, in most cases the biggest threat to a trader’s security is themselves. Here you can see an example of us doing that with the rolling volatility chart. We are also glad to see that they have also developed an insurance fund to manage market risk. They recently introduced USDT perpetual trading, in which P&L is counted in USDT, and saves a lot of headache. Traders will only have put up a small percentage of the initial position as collateral for their trades. In order to fund your account you will have to get coins from the testnet faucet. Once you have registered, Bybit will send you a confirmation code that you will need to use to confirm your email/phone number. Bybit trading terminal is powerful, as well as robust in features. Other platforms such as IQ Option provide demo funds the moment that you open the account. Unlike other margin trading exchange, Bybit offers minimalistic layout, but under the hood, it is packed with all those features which could help a trader like you or others to have smoother trading experience. These funds are replenished with the initial margin that liquidated traders have at the outset of their trade. If the order were to increase the position, it would be amended down or cancelled. Also, if you were already planning on joining Bybit and trading there, these can be viewed as free trading funds. Trade for more than 10 days and you earn another $5. ... PrimeBit, PrimeXBT, ByBit, DueDex and a range of other BTC brokers. If you would like to make use of the API then you will have to generate an API key. Bybit processes withdrawal 3 times a day at 0800, 1600, 2400 (all in UTC time). Below that you adjust the leverage, price and quantity. The pricing is the same as any other popular exchange. You cannot take part in both the referral program and the affiliate program so you have to choose wisely amoung the two. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra. Bybit turns out to be a clear winner as they listened closely to the trader’s community, and since last year, they are constantly on a rise. In order to prevent the risk posed by online snoops and phishing attacks, the Bybit website has full SSL encryption. However, Bybit has a number of tools that will help traders avoid the risk of liquidation. It will ask for your wallet address as well as to confirm the transaction through 2FA. BTC 4H analysis update. The primary product offered on the exchange is perpetual futures products with 100:1 leverage. Bybit offers one of the intuitive trading terminals, and if you are someone who is moving from an existing exchange like Bitmex or Binance, it would surprise you. Liquidation is what happens when you have nearly depleted your initial margin and the mark price hits the “liquidation price”. Note: You have an option to interchange between cross and isolated margin when having an open position. The only time this won’t be possible when the change itself could trigger immediate liquidation. Perhaps this is something that they could eventually release. Exchange included: Buy and Sell Coins Another point that sets BitMax apart from other cryptocurrency brokers is the fact that you can actually purchase Bitcoin on this platform. CoinSutra was started in 2016 with the mission to educate the world about Bitcoin and Blockchain applications.Â. In fact, the order book liquidity on Bybit has recently exceeded that of Deribit. So, even if you are in profit on some other trade, it has no bearing on whether you are likely to get liquidated (and vice versa). This can be done in the “API management” section of the exchange. In their short time in operation, the exchange has managed to build up sizable liquidity. So you should take that into account when funding to trade on these. Bybit matching engine is capable of handling 100,000 TPS, so you don’t have to worry about overload issue, and offers low latency (1ms). For example, their technology team has people who hail from Morgan Stanley, Tencent etc. Head over to the Bybit homepage to see if there is any ongoing trading competition. You should trade only when you have honed your trading skills, and use only the amount of money, you are ok to lose. If you want to take part in the referral program then you will need to get your code. Bybit is one of the few high quality No KYC exchanges, and you can signup from any part of the world unless you live in a sanctioned country or in the USA. So, keeping with our example, if you are long Ethereum and the price falls not only will your position deteriorate but you will also see the USD value of your collateral falling. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. While Bybit does offer 100x leverage on their contracts, this is not constant. This is usually quite small though. Bybit appears to have pretty advanced order functionality on the platform. At the time of writing, the trading fees are the same for Inverse Contract and USDT contract. The trading platform seems to be relatively well laid out and intuitive. This will present your wallet balances where you will select “deposit” and it will bring up the BTC / ETH address. One of the most important tools that they have included is two factor authentication. Now for rising up 60k needs a deep correction. This is especially true when you are trading with a great degree of leverage. This means that they store the bulk of their crypto reserves, and all of the clients’ funds, in offline wallets that are stored in a secure “air-gapped” location. You can think of this as analogous to a contract that has USD as a base currency (given that Tether is a stablecoin). They claim that this trading engine is able to execute a total of 100,000 transactions per second per contract. MetaTrader 5 is the most popular trading app for Android and iOS. Currently Bybit offers two kind of contracts: Currently following coins are available on Bybit for margin trading: We will dive deep on Bybit trading strategies in upcoming tutorials, for now, let us focus on features and offerings of Bybit. This is set at up to 30% of the trading commission that your referrals generate. If you are on a website that looks like it could be that of Bybit but it does not have a secure padlock in the browser, it is an immediate indication that you are on a phishing site and you should leave immediately. You should ideally only be using it at times when you are away from your desk and need to monitor your positions. There is also opportunity for you to do simple tasks to earn a little more BTC. Lastly, although their futures instruments are some of the best in the industry, they still don’t offer any option type contracts. They also offer isolated mode, which lets you use different leverages for concurrent positions. Cobinhood exchange has a mobile app for both Android and iOS, which traders can use to margin trade on the go. For each referred user you send which deposits 0.2BTC with Bybit, you will get a $10 trading bonus. CEO Ben Zhou and his team has done a splendid job by keeping the fees as one of the lowest in the crypto derivatives industry. There are withdrawal limits that are set on the accounts although these are not too restrictive. This is because not only do you have exposure to the actual market but you will also have exposure through your underlying collateral. It is also in use on a number of other platforms so it is relatively easy for you to adapt if you do move somewhere else. These competitions encourage trading volume on their platform which gets them fees. The leverage is 3x for the four cryptocurrencies that are available for margin trading, namely ETH, BTC, USDT, and COB (Cobinhood Coin). It will ensure your stops reduce your position and don’t increase it. Taker fee for Trader A = 10,000/8,000 x 0.075% = 0.0009375 BTC, Maker rebate for Trader B = 10,000/8,000 x -0.025% = -0.0003125 BTC. The isolated margin mode is less risky. This is a new feature that was recently added to Bybit which basically allows traders to exchange their current pyshical crypto holdings in the spot market. This is different from other exchanges such as BitMEX which, contrary to Bybit, does not offer a 100x leverage product for ETH yet. Bybit . Something else that we found pretty neat was their market data section and particularly their advanced data section. However, for larger positions, they will increase the minimum initial margin requirement such that there is a much greater shortfall between the liquidation level and the bankruptcy level. This is in contrast to the USDT contract that is written on 1 BTC. This means that it is not fixed and will vary on a daily basis. The number of traders, and volume on derivative exchanges has increased significantly in the past few quarters. The exchange gives traders the ability to trade Cryptocurrency perpetual contracts with up to 100:1 leverage. While they plan do plan to release more assets in the coming months, currently you can only trade 4 crypto assets. Looking at the standard interface, you have the chart and market depth on the left (you can toggle between). One more thing that we found really quite interesting about the Bybit exchange is their trading competitions. While there were things that we thought warranted improvement, these are relatively easy to implement. You will be able to see the funding rate that will apply under the position details when you open your trade. Coin Bureau encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. I will share a tutorial for the same in the coming days. A lot of exchanges have hidden fees in form of withdrawal fees. As you can see, the maintenance margin is constant at 0.5% for all contract sizes. Your email address will not be published. Read allows you to monitor prices, write allows you to place trades and withdraw will allow your bot to process a withdrawal (not advisable). Many of this have questionable returns and when they have access to your API keys they can manipulate markets to their own advantage. This is only valid for 5 minutes so make sure that you do it right after creating the account. So for every new asset they will add, their matching engine will have a dedicated 100,000 transactions per second for that asset only. This will ensure fairness as they will be getting the best market price that Bybit can garner. However, when it comes to the inverse contract, the underlying cryptocurrency itself is used as margin. An award-winning blogger with a track record of 10+ years.  He has a background in both finance and technology and holds professional qualifications in Information technology. If you have been using Bybit and have been relatively impressed with the product then you can always refer others to the platform. Something else that you may notice when you are trading BTCUSDT on the Bybit platform is that you have two options around how the margin is apportioned in the account. When we looked deeply into Bybit operation, and how they are shipping new features, it was clear why Bybit will keep growing in the time to come. These are a great way to augment your trading funds initially. For example, we would advise against the use of third-party trading bots. These are set to 100BTC and 10,000ETH. It can be used to trade on a lot of major exchanges. These include the following: Trading fees are an important criteria for us because of obvious reasons. For those traders that are on the go, you will no doubt want to keep track of your open positions. Once you have confirmed your account and logged back in then you could be offered a deposit bonus. Moreover, when you withdraw these profits you forfeit your bonus. You may also want to bind the API to your IP address. Below are the fees that you will pay for the futures contracts on the exchange. There are three order life options at Bybit: On top of all these orders, you also have some optionality around how these orders are executed. This prevents the risk posed by having a single individual manage all the funds on the exchange.