Bybit Supported Cryptocurrency List: Difference between revisions
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Bybit Supported Cryptocurrency List
Bybit is a popular cryptocurrency exchange that initially gained recognition for its robust derivatives trading platform, though it has since expanded significantly to offer a comprehensive suite of services, including spot trading, staking, and various financing options. This overview provides a beginner-friendly look at what Bybit offers regarding supported assets and platform functionality.
Core Features Overview
Bybit is known for its high performance, security, and user-focused features.
- **Derivatives Trading:** Historically strong in Futures contract trading, offering perpetual swaps and inverse futures contracts.
- **Spot Trading:** A full-featured Spot market allowing users to buy and sell cryptocurrencies instantly based on current market prices.
- **Earn Products:** Options for users to earn passive income on their holdings through staking, lending, and other yield-generating products.
- **User Experience:** Offers both a web platform and dedicated mobile applications for trading on the go.
Fee Structure
Bybit generally employs a maker-taker fee model. Fees can vary depending on whether the user is trading spot or derivatives, and the user's trading volume tier (which affects VIP level). Generally, Bybit aims to be competitive, especially for high-volume traders. Understanding the fee structure is crucial, as highlighted in resources discussing Best Cryptocurrency Futures Trading Platforms with Low Fees and High Security.
Supported Assets and Markets
Bybit supports a large and ever-growing list of cryptocurrencies. The assets available are primarily categorized into Spot trading pairs and the assets used as collateral or base assets for derivatives.
The primary markets available include:
- **Spot Market:** Direct buying and selling of cryptocurrencies (e.g., BTC/USDT, ETH/USDC).
- **Derivatives Markets:** Contracts based on major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as numerous altcoins, often traded against USDT or USDC.
Trading Mechanics: Spot vs. Futures
Understanding the difference between the two main trading environments is essential for new users.
- Spot market transactions involve the immediate exchange of one asset for another. If you buy BTC on the spot market, you own the actual Bitcoin.
- Futures contract trading involves agreements to buy or sell an asset at a predetermined price at a specified time in the future, or perpetual contracts that do not expire. This typically involves leverage and margin trading. For a detailed guide on perpetual swaps, see Bybit Perpetual Swaps Tutorial.
Order Types Supported
Bybit supports several order types to cater to different trading strategies.
| Order Type | Description |
|---|---|
| Limit order | Sets a specific price at which you wish to buy or sell. The order only executes if the market reaches that price. |
| Market order | Executes immediately at the best available current price in the Order book. |
| Stop Order | An order that becomes active only when the market reaches a specified stop price. |
| Conditional Order | Allows setting triggers based on specific market conditions. |
Liquidity and Market Depth
Bybit generally maintains high liquidity, particularly in its major perpetual futures pairs (like BTCUSDT and ETHUSDT). High liquidity ensures that large orders can be filled quickly without causing significant price slippage. Users can assess market depth by observing the spread between buy and sell orders in the Order book.
Security Practices
Security is a major focus for Bybit. Key practices include:
- Two-Factor Authentication (2FA) for logins and withdrawals.
- Cold storage solutions for the majority of user assets.
- Regular third-party security audits.
KYC Requirements and Limits
Know Your Customer (KYC) verification levels determine the withdrawal and trading limits a user faces.
- **Unverified Accounts:** Typically have lower daily withdrawal limits.
- **Verified Accounts (KYC Level 1/2):** Unlocking higher withdrawal limits and access to certain financing products requires submitting identity documentation.
Funding and Withdrawals
Users can deposit and withdraw supported cryptocurrencies directly onto the platform. Fiat on-ramps (depositing traditional currency like USD or EUR) are often available via third-party providers. Withdrawal times vary based on network congestion and the specific cryptocurrency being moved.
Mobile and Web User Experience (UX)
Both the web interface and the mobile apps are designed to be responsive. The web platform is feature-rich, suitable for detailed analysis, while the mobile app prioritizes quick access to trading, monitoring positions, and checking balances.
Risks and Responsible Trading
Cryptocurrency trading, especially derivatives trading involving leverage, carries substantial risk. Users should be aware of the potential for rapid and significant losses. It is essential to only trade with funds you can afford to lose and to understand the mechanisms of liquidation. Beginners should review resources on Common Mistakes Beginners Make on Cryptocurrency Exchanges and How to Avoid Them".
First Steps Checklist
For a new user looking to start trading on Bybit:
- Complete account registration using Register here.
- Enable Two-Factor Authentication (2FA) immediately.
- Complete necessary KYC verification if higher withdrawal limits are required.
- Deposit your chosen cryptocurrency.
- Familiarize yourself with the Spot market interface before attempting leveraged trades.
- Start with small trades or use the testnet if available for practice.
See also (on this site)
- Bybit Spot Trading Explained Simply
- Understanding Bybit Futures Contracts
- Navigating Bybit's Fee Structure
- Top Security Features on Bybit
Recommended articles
- How to Start Trading Cryptocurrency Futures for Beginners: Essential Risk Management Tips
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- Cryptocurrency token
- Analisis Pasar Cryptocurrency Harian Terupdate untuk Crypto Futures dan Bitcoin Futures
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Recommended Futures Trading Platforms
| Platform | Futures perks & welcome offers | Register / Offer |
|---|---|---|
| Binance Futures | Up to 125Γ leverage, USDβ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days | Sign up on Binance |
| Bybit Futures | Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks | Start on Bybit |
| BingX Futures | Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount | Join BingX |
| WEEX Futures | Welcome package up to 30,000 USDT; deposit bonus from 50β500 USD; futures bonus usable for trading and paying fees | Register at WEEX |
| MEXC Futures | Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT β get 10 USD) | Join MEXC |
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