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Bybit Exchange Service Review. Table of Contents
Bybit is a leading cryptocurrency exchange launched by a former XM president with its headquarters now based in Dubai. The platform supports advanced trading features on MT5 and offers services to over 10 million users worldwide. Bybit is unique for allowing up to 500x leverage on cryptocurrency trades and provides both spot and futures trading options. It includes innovative offerings like the Bybit Card for shopping with cryptocurrencies and implements rigorous security measures including proof of reserves. The exchange also engages in regular promotional campaigns and bonuses for new users.
| Feature | Description |
|---|---|
| Headquarters | Dubai, previously in Singapore |
| Trading Platform | MT5, supporting up to 500x leverage |
| Key Products | Cryptocurrencies, with over 270 types available for trading |
| Security Features | Advanced security with cold storage, multi-signature wallets, and proof of reserves |
| Unique Offering | Bybit Card, allowing purchases with cryptocurrencies directly from your account |
Bybit: A Cryptocurrency Exchange Founded by a Former XM President
Bybit is an international cryptocurrency exchange launched by a former president from XM.
The main office of Bybit is located in Dubai.
Bybit is a cryptocurrency exchange where you can trade using MT5 (MetaTrader 5), a standard in overseas FX.
Company Information of Bybit
Below is the company information for Bybit.
| Cryptocurrency Exchange | Bybit |
|---|---|
| Founded | March 2018 |
| Business Start Date | December 1, 2018 |
| Operating Company | Bybit Fintech Limited |
| Founder and CEO | Mr. Ben Zhou |
| Headquarters | Dubai |
| Branches and Offices | Singapore, etc. |
| Contact | support-jp@bybit.com |
Bybit is a world-leading cryptocurrency exchange with over 10 million users in more than 160 countries.
President of Bybit
The president of the cryptocurrency exchange Bybit is Mr. Ben Zhou, a former executive from XM.
He launched Bybit in Singapore after serving as the General Manager for XM in the Chinese market.
Bybit Headquarters
The headquarters of the cryptocurrency exchange Bybit moved from Singapore to Dubai on April 17, 2023.
Aiming to be the Ark of Cryptocurrencies, Bybit officially relocated its headquarters to the Dubai World Trade Center on April 17, 2023.
Financial Licenses & Regulation of Bybit
Bybit, the cryptocurrency exchange, actively acquires financial licenses and registers for regulation as necessary.
By collaborating with international regulatory bodies and utilizing cutting-edge security solutions and strategies, we support our customers in deepening their understanding of cryptocurrencies.
Considering financial licenses and regulations, Bybit has also made decisions such as withdrawing from Canada.
Learn More About Asset Management at Bybit
Bonuses and Account Opening Campaigns at Bybit
The cryptocurrency exchange Bybit frequently holds campaigns that offer bonuses and benefits for opening accounts.
Promotions and the Benefits Center provide information on the latest campaigns.
Bybit Account Opening Bonus (No Deposit Bonus)
For a limited time, Bybit offers an account opening bonus that allows trading in cryptocurrency FX (crypto asset CFDs) without any initial capital.
Please check the latest availability on Bybit’s account opening campaign page.
Products Offered by Bybit
At the cryptocurrency exchange Bybit, you can trade cryptocurrencies (crypto assets/cryptocurrencies).
With Bybit’s MT5, you can trade like overseas FX brokers (overseas FX broker/overseas FX company) in currency pairs such as USD/JPY, gold, crude oil, and the Nikkei Stock Average.
Advantages of Trading Cryptocurrencies with Bybit
Below are the advantages and reasons why cryptocurrency traders choose Bybit.
- Both spot and futures trading of cryptocurrencies are available
- Can trade cryptocurrency FX with up to 100x high leverage
- Zero-cut support (no margin calls) means no worry about debts
- Popular MT5 available for trading
1. Types of Cryptocurrency Trades Available on Bybit
Bybit serves both as a cryptocurrency exchange and a cryptocurrency sales office.
- Cryptocurrency sales office where you can buy cryptocurrencies
- Cryptocurrency exchange where you can engage in cryptocurrency FX
Cryptocurrency FX (crypto asset CFD/Bitcoin FX) includes spot transactions without leverage and futures transactions with leverage.
a. Cryptocurrencies You Can Buy on Bybit
Below are the main cryptocurrencies you can buy on Bybit.
- Tether (Tether/USDT)
- Bitcoin (Bitcoin/BTC)
- Ethereum (Ethereum/ETH)
- USD Coin (USD Coin/USDC)
- Ripple (Ripple/XRP)
- EOS (EOS)
- Cardano (Cardano/ADA)
- Dogecoin (Dogecoin/DOGE)
- Polkadot (Polkadot/DOT)
- Shiba Inu (Shiba Inu/SHIB)
Cryptocurrencies can be purchased immediately using payment methods such as credit cards, debit cards, PayPay, and bank transfers.
b. Trading Environment and Conditions for Cryptocurrency FX on Bybit’s MT5
Below are the trading environment and conditions for cryptocurrency FX on Bybit’s MT5.
| Trading Platform | MT5 |
|---|---|
| Order Processing Method | NDD STP |
| Maximum Leverage | Up to 500x |
| Contract Size | 1 lot per coin, etc. |
| Maximum Number of Simultaneous Orders | Up to 300 positions |
| Trading Fees | 0.03% at order and settlement |
| Swap Points | Applicable |
| Loss Cut Level | 50% of maintenance margin |
| Zero-Cut Support | No additional margin calls |
| Scalping | Allowed |
| Hedging | Allowed |
| Trading During Economic Indicator Releases | Allowed |
| Automated Trading | EA (Expert Advisor) available |
| MQL5 Signal Trading | Subscriptions available |
The trading environment and conditions on TradingView can be checked on Bybit’s trading platform.
2. The Maximum Leverage for Cryptocurrency FX on Bybit is 500x
The maximum leverage for the MT5 account at Bybit is 500x.
Below are examples of maximum leverage for different cryptocurrency pairs.
| Cryptocurrency Pair | Maximum Leverage |
|---|---|
| BTCUSDT | 200x |
| ETHUSDT | 200x |
| XRPUSDT | 200x |
| BNBUSDT | 200x |
Leverage Limit Rules at Bybit
Bybit’s cryptocurrency FX uses a dynamic leverage system that imposes leverage limits based on the trading volume.
Below is an example for BTCUSDT.
| Trading Volume | Maximum Leverage |
|---|---|
| Up to $500,000 | 100x |
| Up to $1 million | 50x |
| Up to $2 million | 33.33x |
| Up to $3 million | 25x |
| Up to $4 million | 16.66x |
| Up to $5 million | 12.5x |
| Up to $6 million | 10x |
| Up to $7 million | 8.33x |
| Up to $8 million | 7.14x |
| Up to $9 million | 6.25x |
| Up to $10 million | 5.55x |
For example, if the trading volume for BTCUSDT exceeds $1 million, the calculation will use both 100x and 50x leverages.
Complex calculations can be verified on Bybit’s Help Center on the page about MT5 trading questions.
Check Leverage Limits for Each Product Here
3. Bybit Also Offers Zero-Cut Support Like Overseas FX
Bybit is a cryptocurrency exchange that offers zero-cut support.
Additionally, if the maintenance margin falls below 50%, a loss cut (forced settlement) occurs for the MT5 account.
4. Bybit: A Cryptocurrency Exchange Supporting MT5
The cryptocurrency exchange Bybit supports MT5.
You can trade using MT5 just like with an overseas FX account.
Cryptocurrency FX Other Than MT5 at Bybit
Below are the types of cryptocurrency trades available on Bybit’s TradingView (not MT5) trading platform.
| Contract Type | What Kind of Trade? |
|---|---|
| USDT Perpetual | Trading with a variety of cryptocurrency pairs is possible. Denominated in USDT (essentially, in USD), making capital management easier, hence it’s most popular |
| Inverse Perpetual | Only 4 cryptocurrency pairs are available. Denominated in cryptocurrency, making capital management more challenging compared to USDT Perpetual |
| Inverse Futures | Bitcoin and Ethereum are the only two commodities futures available, each with a trading deadline |
Users (traders) can choose their trading mechanisms from the three types mentioned above on the trading platform (trading software/trading tools).
The most popular is USDT Perpetual.
Security & Asset Management at Bybit
Below are the specific details of Bybit’s comprehensive 360-degree security measures titled “Security Measures at Bybit.”
- Three-tier asset protection functions & platform security
- The majority of customer assets are safely stored offline in cold wallets
- Advanced multi-signature and TEE (Trusted Execution Environment), TSS (Threshold Signature Schemes) combination to block unauthorized online access
- Regular audits of proof of reserves and public disclosure of results for transparency
- Product and service designs prioritizing privacy protection
- Clear prior explanation of collected data (including usage and sharing methods)
- Advanced data protection using encrypted, sensitivity-reduced query interfaces
- Strict access controls
- Real-time monitoring of risk management and user behavior
- Security-first design including strictly managed development lifecycle and rigorous security testing
- Bug bounty program
- Stress testing conducted in collaboration with Bugcrowd and security experts
Bybit implements KYC (Know Your Customer) to engage in security enhancements that surpass those of overseas FX brokers (overseas FX broker/overseas FX company).
What is Bybit’s Proof of Reserves?
Bybit’s Proof of Reserves is the verification that the trading platform holds all the tokens in user accounts in a 1:1 ratio.
Proof of Reserves is accessible to any Bybit user.
View Published Data & Ratios Here
What is the Bybit Card?
Since April 13, 2023, Bybit has been offering a debit card known as the Bybit Card.
The Bybit Card allows users to shop with the cryptocurrencies in their Bybit accounts.
The Bybit Card will soon be available for all users to issue.
FAQs
- What is Bybit?
- Bybit is a global cryptocurrency exchange that offers advanced trading options like 500x leverage on MT5 and a unique Bybit Card for payments.
- Where is Bybit headquartered?
- Bybit moved its headquarters from Singapore to Dubai on April 17, 2023.
- What trading platforms does Bybit support?
- Bybit supports the MT5 platform, allowing for trading with high leverage and advanced trading tools.
- What types of trading does Bybit offer?
- Bybit offers both spot and futures trading of cryptocurrencies, with support for over 270 types of coins.
- What is the Bybit Card?
- The Bybit Card allows users to make purchases using the cryptocurrencies in their Bybit accounts, directly deducting from their balances.
- What security measures does Bybit implement?
- Bybit uses cold storage, multi-signature wallets, and conducts regular audits of proof of reserves to ensure user funds’ security.
- Can I use leverage on Bybit?
- Yes, Bybit offers up to 500x leverage on certain cryptocurrency trades via the MT5 platform.
- What is proof of reserves at Bybit?
- Proof of reserves at Bybit verifies that the platform holds all the tokens in user accounts in a 1:1 ratio, ensuring transparency and security.
- How can I contact Bybit for support?
- You can contact Bybit support via their email at support-jp@bybit.com.
- Are there any bonuses for opening an account at Bybit?
- Yes, Bybit frequently offers account opening bonuses and campaigns, including no deposit bonuses for new traders.
Please check Bybit official website or contact the customer support with regard to the latest information and more accurate details.
Bybit official website is here.
Please click "Introduction of Bybit", if you want to know the details and the company information of Bybit.
Comment by jetonwhy
February 16, 2025
Anyone else finding it weird that Deriv only allows deposits through Jeton and not bank transfers? They’ve removed crypto too, so now it’s just cards and Jeton. Kinda frustratin...