Cryptocurrency nowadays becomes one of the popular trading instruments. This can be considered as digital currency and the crypto trading now gets great attention from many traders. Many brokers now offer the trading access for the crypto. Related to this, even there are some brokers that focus on the crypto trading platform. Its only focus is on the crypto trading and exchange so there are not options of other trading instruments. ByBit is one of them. For traders who are interested in crypto trading, they can check the bybit review to get more understanding regarding the trading platform, services, and its benefits for the traders.
In term of rating, ByBit has good score. When it is compared to the other trading platform focusing in crypto trading, ByBit becomes one of the best. Of course, some people have concern regarding the reliability of the trading platform because it is not regulated by the tier 1 regulators. However, it is not big problem because ByBit itself has run its business and trading services since 2018 and it can prove that it is reliable and trustworthy in facilitating and assisting the traders who are interested in cryptocurrency. It offers access for traders to exchange the digital currency or crypto for the traditional money so the profits that will be withdrawn can also be in a form of traditional money through the conversion rate. However, it is important to point out that the account currency in ByBit uses cryptocurrency. It may not be good situation for some traders because other trading platforms can provide account currencies in traditional money. However, it does not mean that the deposit should use the crypto. Deposit still can use the traditional money as starting point.
Related to the deposit, ByBit has its own interesting point. It offers very low minimum deposit. Traders can start depositing from $1 in which it is very affordable for new traders or beginners. For them who want to be active on futures, they can use leverage and its leverage is up to 1:100 on futures so it is quite good. It may not be very high, but it gives safer trading conditions because volatility in crypto is almost similar to forex trading where the high volatility exists. In addition to its low deposit, ByBit offers very low trading fees. For the account and deposit fees, ByBit does not take any fee so it is very convenient to trade in crypto and traders will not be charged by any fee for the account and deposit. Withdrawal by using debit and credit card also does not involve any fee for each transaction. However, fee will be found when traders want to withdraw the funds in Bitcoin. In case traders do not use the account or it will be inactive, ByBit does not charge for the inactivity.
In term of platform, ByBit tries to provide the best accesses for users or traders. There is web-based platform that will not require specific app to use the services. In case traders want to have convenient access through the mobile device, they can use Android-based and iOS-based device. In this case, ByBit does not support the desktop platform to access the crypto trading. As for the services, it provides 24/7 support and customer services can be contacted through online chat and email.