Bybit is a cryptocurrency exchange established in Singapore. It is popular on fairly major exchanges. It is said that the leverage ratio is up to 100 times and is used by more than 300,000 users. Bybit also uses zero cuts, so there is no risk of taking on debt. There are 8 types of currencies available, which may be slightly less than other exchanges. On the other hand, it is also an exchange where you can purchase virtual currency in legal tender, and it also has a convenient aspect. It supports 45 fiat currencies.
Account opening
Only the following two items are required to open a Bybit account. Bybit does not require an ID to open an account.
- telephone number
- email address
When you access the official website, enter your email address and click “Open Account”. After entering the password arbitrarily, agree to the terms of use and press the “Continue” button. A message will be sent to the email address you entered (SMS if you registered your mobile number). You will receive a 6-digit “authentication code”, so enter it on the authentication screen. This completes the Bybit account opening.
If you have an identity verification (KYC) for individuals or corporations and do not want to limit the amount of money you can withdraw, you will need an identity verification document. Have your passport, country-designated ID card, or driver’s license ready. Click the “Perform Identity Verification (KYC)” button on the far right of the “Identity Verification” column at the bottom of your account. You will be able to take your ID and take your own photo.
Currency pair
Bybit allows you to trade 8 currency pairs.
| Brand |
| BTC |
| ETH |
| EOS |
| XRP |
| USDT |
| XTZ |
| LINK |
| LTC |
Scalping trade
Bybit allows scalping trades. However, please be careful. Unlike foreign exchange, the price range of virtual currencies is very volatile. If you go the other way, be sure to decide the withdrawal point. If you go the other way, you may lose all your money.
Automatic trading is at your own risk
Recently, some people are selling automatic trading systems that support Bybit. However, automated trading carries great risks. When a one-sided trend appears, the unrealized loss becomes large and all the principal is often skipped. Furthermore, in the case of virtual currencies, trends are more likely to occur than foreign exchange, and price range fluctuations are more likely to occur. You may lose all your money in one trade, so please understand before deciding whether or not to do it. Discretionary trading is recommended.
Low risk, low return for beginners
Beginners should not be familiar with cryptocurrency FX yet, so let’s start with low risk and low return
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