Bybit is a cryptocurrency exchange with its rule center in Singapore in 2018. Bybit Co-Founder and CEO is Ben Zhou. It is one of the highest volume exchanges in the world. Bybit crypto money exchange is among the crypto money exchanges that are not involved in theft events in the world.
An important thing to know about the Bybit exchange is that this platform is not a normal crypto trading platform, that is, only derivatives can be traded, not cryptocurrencies.
The company provides innovative trading services and cloud mining products to its individual and corporate clients worldwide. In addition, it provides API support and maintains its commitment to be the most reliable platform for the emerging digital asset class.
When trading in the Bybit exchange, the contracts linked to these cryptocurrencies are bought and sold, not the trading of cryptocurrencies. Bybit is one of the recommended crypto derivatives exchanges that comes with many systems such as continuous derivatives trading, credit transactions, smart trading system, state-of-the-art pricing system.
What is Bybit Launchpool?
Bybit Launchpool is a platform where users can earn coins or tokens for free by staking existing cryptocurrencies.
The user can cancel the started staking process without any time limit. In other words, he can unstake the tokens he staked whenever he wants.
This term, called staking, is an income method that allows users to earn passive income through a platform. The term staking is a term that started to be used together with the POS (Proof Of Stake) mechanism. This process allows existing crypto assets to be locked in user wallets, generating passive income.
Bybit Pros and Cons
The advantages and disadvantages of Bybit, one of the most popular exchanges in the world, are as follows:
Advantages
- Bybit exchange is accessible from a huge number of countries.
- It has a mobile application with all the necessary features and an easy interface.
- 24/7 customer service is available.
- It is in demand due to low trading commissions.
- Bybit cryptocurrency exchange has a firewall built on solid walls.
disadvantages
- It has some negative returns online.
- It has a limited number of listed cryptocurrencies.
- Not recommended for beginners.
