Would you like to trade and earn money on one of the biggest platforms in the world? Did you know you can get the best Bonuses? Check out my ByBit exchange review and start earning today!
What Is ByBit?
ByBit is one of the biggest cryptocurrency’s exchange in the whole world. It was founded in 2018 by Ben Zhou. The main office is placed in Dubai, United Arab Emirates (moved from Singapore). The trading volume is a billion of dollars every single day!
Unfortunately it’s banned in USA, but you can use it in other countries in the world, except North Korea, Cuba and similar communist countries.
ByBit is offering a lot of features for both, beginners and advanced traders, but definitely the best one are bonuses and possibility to earn money without the risk of losses.
ByBit was one of the cryptocurrency’s platforms where KYC was not required. If you don’t know what the KYC is, it’s the customer’s verification – Know Your Customer. The same as in your local bank, you have to provide your details and some documents, like ID card. At the moment, to take any action on ByBit you have to provide your details.
Opening new account is very quick and easy. Obviously ByBit works in any device, no matter it’s computer or mobile phone.
Visit official ByBit website now!
Trading
The main and the most important task of the platform is obviously enabling people to trade cryptocurrencies. The ByBit trading platform is clear and readable, with a lot of options and helpful indicators. If you don’t know how to trade, check out my trading tutorial, where I show everything step by step. It doesn’t matter what do you trade, the rules are the same.
Remember, you can earn by buying (Long) or selling (Short). To start your transaction click Derivatives and set up all the parameters for your trade. You choose the leverage, on ByBit you can choose even 100x, so you can earn money 100 time faster, but also loose 100 times faster.
Read also How to make money online without investment
That’s why I recommend to choose up to 5x leverage, especially if you are beginner.
There are three kinds of trading on ByBit:
- Limit Order – if you are not satisfied with the current price, you can set up the value you want to start
your transaction. For example if the Bitcoin price is $30 000 and you want to buy it for $25 000, then your transaction will start when the Bitcoins price is $25 000 - Market Order – buying or selling with the current market price
- Condition Order – a little bit more complicated then two ones above. I personally do not use it. You have to enter threshold price together with the limit price. Your order will start when the reserved price is reached.
The next step is to set the order value. You can enter it manually or just move the slider below to select desired value. When everything is done, click Buy / Long or Sell / Short button to start your trade.
Closing position is very easy. When you are happy of your trade and would like to receive your profit, just click Close by button so you can close it with the current market price by clicking Confirm or choose the Limit, the same as opening transaction. You need to have your coins in Derivatives Wallet to start trading. That’s it!
It is worth mentioning that you can also trade with other people. If you choose P2P Trading you can find the best coins price offered by another traders. Obviously you can set a price of your crypto and sell it to someone else and get paid directly to your bank account!
You can also convert your cryptocurrencies to another ones. To do that, click the Trade button instead of Derivatives and set up all the parameters. That’s another method to make money. For example if you want to invest $100 in Bitcoin when the market price is $25 000, just convert your USDT into Bitcoin and wait till its value is $30 000, then convert it back into USDT.
Wallets
Every cryptocurrency’s exchange has wallets you can use to sort your money, depending on how you want to use it. In Assets section you have few wallets. The main one is Spot Wallet, where you can keep your money. As I mentioned above, to start trading you need to transfer your money from Spot to Derivatives Wallet.
In Assets section you need to click Transfer button and choose the wallet you want to transfer your money to. Next, enter the amount of your asset and click the Confirm button. Sorted!
Earn money on ByBit!
ByBit is not the only one platform where you can make money, but it’s definitely one of the best! We can’t say that you can earn money online without investment, but ByBit has options to make money within minimum or zero risk.
The Earn section in main menu includes several options to earn money, such as:
- ByBit Savings – making money automatically every day by interest rate, which is much higher than in your local bank, sometimes even for any period!
- Dual Asset – automatically buy low and sell high, estimated APY something even few hundreds percent!
- Liquidity Mining – You can make money as a yield derived from trading fees by adding liquidity. What’s interesting, you can also use leverage
- ETH 2.0 – you can earn up to 6% on staked Ethereum while using it as trading collateral.
I personally prefer ByBit saving and Dual Asset, but all the options are worth to make use of them for making money.
ByBit Bonus
If there is one thing ByBit is the best at, it’s definitely the big bonus for its users. The platform offers A lot of money for new customers, even up to $30 000! There is no other platform with such a big rewards. For example Binance offers up to $100.
Thanks to ByBit everyone has a chance to start investing in cryptocurrencies (my recommendation is just Bitcoin and Ethereum) and make a lot of money with a little deposit.
To claim your bonus you need to register in the platform via referral link or provide referral code during registration process.
Next thing you need to do is click Rewards Hub in main menu and do the tasks. You’ll need to verify yourself, by providing your details and upload your ID, because ByBit is financial institution, the same as bank. I suggest to check Rewards Hubs regularly, because you can get new task and earn more money! Below is my referral link, so you can start working even right now.
—> Join ByBit to claim up to $30 000 Bonus Now!
Or use the referral code: 51751
Conclusion
ByBit is one of the biggest crypto platforms in the world with billions of dollars traded every single day. It is chosen by many in the whole world. But what makes it attractive to the people?
ByBit offers not only trading, but many other options. If we are talking just about trading, then we can say that ByBit is professional platform, and possibility of buying and selling your tokens directly to other people is really nice. The charts and indicators are readable and clear.
All ByBit customers can make money using the platform. ByBit Earn section includes several options, so you can choose the best one for yourself. It works like multiplying your money in short period of time compared to the local bank, where you have to wait long to earn just a little bit.
One of the most famous things are Bonuses. ByBit has the best ones! Everyone who joins the platform has a chance to get even out to $30 000 and even more, because ByBit adds new campaign and rewards regularly. You can ask: “why are they just giving money to the people?”
It’s because the daily volume of trade is counted in billions of dollars, that’s why they try to get new customers by offering Bonuses and rewards. And thanks to that, you can make even more money, multiplying it by trading or ByBit Earn section.
ByBit is a great choice for everyone who thinks seriously about making money online. But remember, you need to provide the referral code to get the best Bonus: 51751
Or click the link below to register right now:
—> Join ByBit Now And Get The Best Bonus!
If you have any questions, let me know and I’ll try to help you as soon as I can.
Kind regards!
Great Site!! This a dream to be independent and take the step outside the norm to be your own boss. and trying is definitely a way to go. I initially invested some money in One Coin but I have lost a good chunk do to the Crypto winter. Reading your posts have given me some more insight into what is possible if I just stick with it and invest some more into crypto. I am trying understand the storm again app. Is is for iPhone users? I did not see it it in the App Store. Over all insight full and full of information. Maybe you can add some video tutorials explaining it more in-depth.
Thanks for writing and setting up this space.
Hi Keith! If you have lost some money that’s the experience. I have lost as well and in one of my articles I have mentioned that. Check it out here: Money Management . I will definitely create some video tutorials, I want to show how I do it click by click, so everyone can see it, but I need a better hardware to do that. Stay tuned and you’ll see some videos in foreseeable future:) thanks for your comment, I appreciate it.
Kind regards,
Błażej
I have not heard about Bybit before, so it was interesting to read this review on the cryptocurrency exchange. I do currently own some Ethereum ETF’s, and saw that you mention one can earn up to 6% on staked Ethereum if you are using it in trading. So how would that work? Can you expand on it please.
You also mention that Bybit is banned in the USA, which makes me very skeptical about the trustworthiness of the platform. Do you know why it is banned in the USA? Knowing the reason for the ban would help to decide if it is the right platform for me. Thank you.
Hi Lina! ETH 2.0 on Bybit it’s a liquid staking. They say that you can earn up to 6% yield on staked Ethereum while using it as trading collateral. ETH 2.0 it’s an updated Ethereum blockchain based on proof of stake, not as ETH 1.0: proof of work.
ByBit is banned in US due to the law regulations, the same as Binance in UK. I don’t know details, but there is a millions of happy users in the whole world. You can check the peoples opinion. If you are in USA you can use VPN and it should work then.
Kind regards,
Błażej
It looks like a very thorough platform when it comes to bitcoin. But why it is banned in the US? Is there any particular reason for that? If you had to choose between all the big bitcoin platforms out there which one would you suggest to someone just starting now?
I have no idea why ByBit is banned in US. Officially it’s due to the law regulations. ByBit is one of the best and biggest crypto platforms in the world. I can highly recommend it to everyone, especially beginners and new members who are eligible to get even up to $30000 of Bonus. But if you live in US, you can use Binance which is the biggest one in the world. That two platforms are in my opinion the best
Hi, I’m just wondering about the remark about using a VPN. Would the KYC still work if you are in the US? If it is banned here, I’m guessing that an american address and such would make you ineligible to join, wouldn’t it?
Hi! Yes, it could be ineligible. However I heard that some people are using VPN. Im in uk where Binance is very limited, and some functions are simply not available, maybe the same is with ByBit in USA?