Bitaigen Research We systematically outline Bybit’s core features and usage workflow in this article, covering everything from downloading the client, registering an account, depositing funds, to placing orders. By deeply analyzing the platform’s advantages, trading tools, and security measures, we help beginners get up to speed quickly and understand the unique aspects of the service. Subsequent sections will delve into live‑trading details, so a thorough read is recommended.
Bybit Platform Characteristics
Advantages of Bybit
- The first crypto exchange to integrate the MetaTrader 4 (MT4) terminal, a staple in the foreign‑exchange industry, catering to users already familiar with that interface.
- Supports a wide variety of order types, including limit orders, partially filled orders, conditional orders, and market orders, offering high flexibility.
- Provides high‑leverage, low‑fee contract trading and maintains an insurance fund to mitigate risks arising from extreme market moves.
- New users can access the trading interface without completing KYC immediately, resulting in a streamlined onboarding experience.
- Available on both desktop and mobile platforms, allowing asset management anytime, anywhere.
- Platform promotions grant discount credits and trial funds; although these cannot be withdrawn directly, they can be used to offset contract fees or cover losses.
Background Overview of Bybit Exchange
Bybit (commonly stylized as “Bybit”) was founded in 2018 and is headquartered in Singapore. Its founder is Ben Zhou. The platform offers spot trading (BTC, ETH, EOS, XRP, etc.) as well as derivatives (reverse perpetual, USDT‑settled perpetual, and a total of 28 contract types) and provides 24‑hour live customer support. The founding team consists of blockchain investors and senior executives from traditional finance, all dedicated to delivering deep liquidity and professional services to users.
To date, Bybit has amassed over ten million registered accounts, with operations spanning more than 100 countries and regions worldwide. According to data from CoinMarketCap, the exchange’s 24‑hour contract trading volume ranks third globally, with a daily turnover approaching US $10 billion, underscoring its substantial market influence.
Global Ranking of Bybit Exchange
Across major ranking sites such as CoinMarketCap and CoinGecko, Bybit consistently records strong performance. Below is a snapshot of 24‑hour trading volume and liquidity metrics for several leading exchanges (sourced from publicly available data):
| Rank | Exchange | 24h Volume (USD) | Weekly Visits | Number of Trading Pairs | Supported Fiat Currencies |
|---|---|---|---|---|---|
| 1 | Binance | $9,658,203,949 | 943 | 902,855 | 207 |
| 2 | Coinbase | $2,076,536,894 | 790 | 108,808 | 503 |
| 3 | Upbit | $957,946,101 | 548 | 2,072,132 | 701 |
| 4 | OKX | $1,970,651,564 | 782 | 5,412,021 | 111 |
| 5 | **Bybit** | $2,101,111,910 | 720 | 2,895,397 | 121 |
| … | … | … | … | … | … |
In the derivatives segment, Bybit’s 24‑hour contract turnover places it third worldwide, trailing only Binance and OKX, which highlights the exchange’s deep liquidity in the futures market.
Security Assessment of Bybit Exchange
Bybit implements multi‑layer protection across three core dimensions: assets, data, and trading.
- Asset Security: Utilizes a tiered deterministic cold‑wallet architecture, keeping the majority of user funds offline. Multi‑signature schemes, Trusted Execution Environments (TEE), and Threshold Signature Schemes (TSS) further reinforce security.
- Data Encryption: All data in transit and at rest are encrypted. A desensitized query interface ensures that KYC information can only be accessed or modified by the account holder.
- Trading Protection: Equipped with a 100 K TPS matching engine, dual‑price mechanism, insurance fund, and HD cold‑wallet system to guarantee stable execution even under high concurrency.
- Real‑Time Monitoring: The risk‑control system continuously scans for abnormal logins, deposits, or withdrawals; suspicious activity triggers additional identity verification steps.
- Reserve Transparency: Periodic Proof‑of‑Reserve (PoR) snapshots are published, and third‑party services such as Nansen can verify the corresponding wallet addresses.
- Anti‑Phishing & 2FA: Official verification channels, anti‑phishing codes, and optional two‑factor authentication (2FA) are offered to help users protect their accounts from theft.
While no centralized exchange can claim 100 % safety, Bybit’s sizable asset base, robust liquidity, and publicly disclosed security protocols place it among the more reliable choices in the industry. Users should still assess regulatory risks independently and adopt diversification strategies for asset protection.
Bybit Exchange Features
Bybit’s product suite can be grouped into three major categories:
- Spot Trading & Grid Bots: Supports a broad range of mainstream cryptocurrencies for spot buying and selling, and provides grid‑trading bots that automate predefined strategies.
- Derivatives & Options: Offers reverse perpetual, USDT‑settled perpetual, and other contract types, along with options trading. A built‑in copy‑trading function enables users to replicate the strategies of top performers.
- Wealth‑Management Services: Includes staking, lending, liquidity mining, and DeFi mining products, with yield structures comparable to those on other exchanges.
1. Introduction of the MT4 Trading Platform
Bybit has ported the widely acclaimed MetaTrader 4 (MT4) platform—originally popular in the forex world—into the crypto space, allowing users to trade BTC, ETH, and other contracts within a familiar interface. MT4 supports automated trading (Expert Advisors), back‑testing, and a rich library of technical indicators, making it attractive for traders who rely on algorithmic strategies. After applying for an MT4 account, the platform sends the login credentials to the registered email address.
2. Copy‑Trading
The copy‑trading feature lets users mirror the positions of experienced traders. Those whose strategies are copied receive a 10 % share of the net earnings generated by their followers as an incentive.
3. Promotional Activities
Bybit regularly runs campaigns that distribute discount credits and trial funds. Discount credits can only be used to offset fees on perpetual or delivery contracts and are deducted before any of the user’s own capital. Trial funds may be employed as margin or to offset losses, also taking precedence over personal capital. While trial funds themselves cannot be withdrawn, any profit generated after their use is withdrawable.
Registering a Bybit Account
- Recommended referral code: `B2345` (grants a permanent 20 % fee discount and exclusive trial funds)
- Official portal: Bybit website
- Note for U.S. residents: Use Binance.US instead of the global Binance link above.
- Mobile app download: Official Bybit App download page
During registration you may choose a mobile phone number or a commonly used email address (e.g., Gmail, Outlook). Enter the verification code you receive to complete the sign‑up process.
Bybit Trading Fees
Bybit distinguishes between Maker and Taker fees:
- Maker: Orders that sit on the order book without immediate execution; a fee is charged only when the order is eventually matched.
- Taker: Orders that execute instantly against existing liquidity, consuming depth from the order book and incurring a taker fee.
Exact fee rates are listed on the platform’s official fee schedule (illustrated placeholder).
To achieve further fee reductions, users can ascend to VIP tiers based on cumulative asset holdings, BIT token stakes, or 30‑day trading volume. Each tier offers a distinct discount structure.
How to Download the Bybit Android App
- Visit the Bybit website and click the three‑line menu icon in the upper‑right corner.
- Select “Download App.”
- If the app is not listed in the Google Play Store, click “Install APK.”
The system will alert you that the file could be risky; choose “Download anyway.” After the download finishes, open the installer and tap “Allow installation” → “Continue installation.” The app will then be installed on your device.
Re‑Downloading the Bybit iOS App
Necessity of an Overseas Apple ID
App Store catalogs differ by region. By creating an Apple ID registered in territories such as Taiwan or Hong Kong, you can access crypto‑trading apps that are not visible in the mainland China App Store.
Overview of Registration Steps
- Generate a virtual Taiwanese address using an online address generator.
- Visit Apple’s official site to create a new Apple ID, selecting Taiwan as the region and providing your name, birthdate, a real email address, password, and phone number.
- Verify the email and SMS codes; once completed, you can sign in to the App Store.
Placeholder screenshots:
Search for “Bybit” in the App Store, then complete registration using the referral code B2345 to obtain a 20 % fee rebate.
Step‑by‑Step Guide to Register a Bybit Account
- Download and launch the Bybit client, then tap the Register button in the upper‑right corner of the home screen.
- Enter either your mobile number or email address, and be sure to paste the referral code B2345 in the designated field to receive a permanent 20 % fee discount.
Identity Verification
Tap “Verify Now”, upload the front and back of your national ID card or passport, and complete facial recognition. Bybit typically finishes the review within 24 hours.
