One of the top cryptocurrency exchanges in the market is Bybit. This platform is known all around the world and is used by people who trade crypto. There are several reasons for its popularity and success, one of which is the fact that it supports leverage trading.
Leverage trading is a trading strategy that gives a major opportunity to the users to enjoy huge profits by borrowing funds from the broker and opening a big trading position. However, the huge profits are not guaranteed and are accompanied by the possibility of facing huge losses as well.
In short, leverage trading is quite technical and can even be unpredictable. However, it also depends on the kind of exchange you choose and how much information you have about the concept before you start practicing it.
The Bybit exchange is one of many platforms that supports leverage trading but it stands out among the rest. Here is why this exchange is one of the top options among the crypto traders, especially for trading with leverage.
Impressive Customer Support Offered by Bybit
Customer support is the assistance offered to the users by an exchange. In case of an emergency or queries that they might have. Top exchanges such as the Bybit exchange have a strong and impressive customer support system that comprises experts.
These experts are available to assist and address any kind of concern or query the users might have around-the-clock. This is an essential and helpful aspect that needs to be considered while choosing a platform as it can make crypto trading easier and safer.
Novice traders might come across some complications or may have some technical questions. In such a case, if they are assisted by the experts in time who answer their questions, the traders can continue trading without wasting any time or facing any inconveniences.
Therefore, this exchange not only offers bybit leverage trading but also makes sure that the users’ concerns and queries are not left unanswered, no matter the time.
Low and Competitive Fees
Bybit is one of the exchanges in the market that is known for charging a low and competitive fee. This is yet another reason why it is popular and grabs the eye of a large audience interested in trading, specifically with leverage.
The fees charged by an exchange cannot only help you identify a suitable platform but also make it easier for you to trade or invest in crypto without exhausting your budget.
Here are the details of the Bybit fees that you should know about if you want to use this exchange:
- Withdrawal fee: 0.0005 BTC
- Taker fee (marker order fee): 0.075%
- Maker fee (limit order fee): -0.025%
- Funding rate: 0.02% / -0.02%
Tools for Data Analysis
The Bybit exchange is one of the best platforms for trading, whether it is with leverage or not. It offers outstanding tools and features that help the traders in keeping a track of their positions and also to analyze the data.
Some of the tools for data analysis that you can download on Bybit are mentioned below:
- Daily Realized Volatility – shows actual volatility over a time period
- Monthly Price Range – looks at highs and lows of an instrument on a monthly basis
- Price Moving Averages – shows multiple moving average indicators for numerous timeframes
- Rolling Volatility – shows the realized volatility over the last 30 days
These tools can help you keep a track of numerous aspects while trading on the exchange.
While trading on an exchange, one of the most helpful features for the traders is a mobile trading application, especially for people who travel a lot. The Bybit exchange also has a well-developed mobile application that has a good functionality and easy-to-navigate interface.
The mobile application is also available for users of the Android and iOS users and makes it easy for the traders to trade even while on the go.
There is order management and advanced charting on the mobile application as well, which is useful for the traders. As a user of the mobile trading application, you will not only be able to trade while travelling but you can also monitor your trading positions.
Order Types on the Exchange
Another aspect traders look for while choosing an exchange for crypto trading is the order types supported by the platform. Bybit is an impressive platform and it offers several order types that include the basic and advanced order types mentioned below:
Basic order types available are:
- Conditional order
- Market order
- Limit order
Advanced order types available are:
- Fill-or-kill (FOK)
- Good-till-cancelled (GTC)
- Immediate-or-cancel (IOC)
Bybit is a popular Singapore-based crypto exchange that is known for its impressive features and services. There are numerous aspects that crypto traders should know about if they want to use this exchange and trade digital assets.