Crypto derivatives giant Bybit ventures into spot trading

Bybit customer-centric platform incorporates crypto spot trading to complement its main derivatives offering.
Bybit has been the most usable, stable, and reliable exchange of the crypto bull run, running throughout without overload or downtime.

Bybit, one of the largest derivatives-only cryptocurrency exchange platforms, has expanded its services into the crypto spot trading market. The company launched a new zero-maker fees spot trading platform, which opened on July 15 at 6.00 a.m. UTC. To begin with, the platform will have four trading pairs, namely; BTCUSDT, ETHUSDT, XRPUSDT, and EOSUSDT. More trading pairs will soon be incorporated, according to the company’s announcement.

Essentially, spot trading, just like its name, allows trading of crypto assets “on the spot”. Once an order is filled, trading takes place at the current market rate. Additionally, ownership of crypto assets is directly transferred between seller and buyer.

Bybit is esteemed for being a support base for new traders. The company’s new crypto spot trading is a “complementary vector for derivatives traders engaging in hedging strategies.”

July 15, 2021 — Bybit, hitherto the world’s largest derivatives-only cryptocurrency exchange, has announced its expansion into the crypto spot trading market. Upon launch, BTCUSDT, ETHUSDT, XRPUSDT and EOSUSDT will be supported.

— Wu Blockchain (@WuBlockchain) July 15, 2021

Bybit World-Class Reliability and Liquidity

The Singapore-based company takes pride in being the most usable, stable, and reliable exchange of the crypto bull run. During this time, the platform managed to run all activities without overload or downtime.

Moreover, with liquidity being the quintessential element in asset exchanges, Bybit has put effort to ensure its constant presence. The exchange offers great liquidity and a tight spread.

Of note, Bybit aims to reduce the entry threshold of the crypto trading market. Through retail-focused products and customer support services, Bybit inches towards being the haven for crypto trading novices. Such services also ensure instant delivery of crypto trades, which is every trader’s holy grail.

Bybit’s co-founder and CEO, Ben Zhou said:

It has been Bybit’s utmost privilege to have enjoyed the ardent support of our community and partners as we continue to grow and improve. We are excited to bring with us to spot trading the world-class liquidity and reliability derivatives clients have come to associate with Bybit.

On the Flipside

Founded in March 2018, Bybit was developed as a professional platform to serve crypto traders in different aspects. These include offering quick matching engines, top-notch customer service, and also multi-lingual community support.

The company is registered in the British Virgin Islands and has offices in Singapore, Hong Kong, and Taiwan. While the exchange’s clientele is mostly Asian, it has expanded users all over the world. Bybit’s user base has grown to over 2 million registered users and over 300 features across major media outlets.

Notably, the company saw its derivatives volume surge 18 percent to $133 billion. Worldwide recognition also fueled its partnership with UNICEF New Zealand for charity purposes. In addition to intuitive and innovative online trading services, the company provides cloud mining products. Also in store is API support to both institutional and retail clients globally. 

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