Bitcoin Forum

Bitmex was my main platform for margin trading for years but 4 months ago I was fed up with the overloads and decided to give Bybit a try. Haven't gone back since and moved all my margin funds over.

I think it's by far the best option these days so I wrote a review to give people some thoughts on the platform so they can make a decision about trying it out.

Full review here: https://www.cryptoadvocate.net/post/bybit-review

I'm sure I paid 0.0005 to withdraw btc on that site so you might want to amend that if its your site.

I'd like bybit to at least get ltc too as 9ne of the trade pairs...

It's quite a nice site to use on mobile compared to bitmex as bitmex is really not optimised for mobile...
But the issues most people. Have with bybit is that it's very new and might not have as good security/might exit scam still. I don't think the overload error and lack of scam wicks (but I thought bitmex was based on an average anyway?) is enough of an issue for trading especially if you set your take profits and stop losses an sypur limit order all at once and don't rely on the market. You should be able to make a tp and sl before the limit if you have the limit on cancel box checked.

(also bybit claims to have 24 hour support which bitmex doesn't)...

That's just the bitcoin transaction fee. Same as if you were to send btc to anyone. Bybit doesn't charge a fee

Although Bybit is much better than Bitmex in terms of functionality and I prefer it especially for scalping, in my opinion the best margin trading platform out there is Deribit. It is the most professional looking one and I kind of have confidence in a Holland based company. They also offer derivatives like options and futures besides perpetuals(spot) that are well suited for well-versed traders. On the other hand I find Bybit more suitable for scalping as sometimes it seems to have more liquidity.

Deribit doesn't exactly have the greatest track record though

Absolutely, This platform has overcome BitMex, a lot of advantages (sorry for not mentioning them) provided by this platform comparing than some older ones. I gave a try and put all of my love to this platform from the first time.

Also, I have ever applied a vacancy there and passed the interview, unfortunately I'm not accepted, LOL.

I lately came to know that lots of reputed exchanges also started margin trading and this is first time I do hear bitmex is facing bottleneck kind of problems due to heavy loads of users (I am unable to recall how it was doing some four months back as per you have mentioned). Moreover, I am in plan to try margin trading with bittrex because I must need more time to follow your review for the all new exchange bybit; yes, this is the first time I hear them.

Being mobile friendly could be a good improvement from bybit as I am not seeing bittrex is doing that as per my expectations. I am not a on the go trader as I need calm and settled environment to trade profitably still margin trading along with on the go option may push many traders like to to try with bybit.

They offer a pretty good sign up bonus right now so definitely doesn't hurt to give it a try. Free trading funds

I rarely hear bybit exchange, after I try to read a review about bybit looks like this exchange is pretty good, Leverage exchange and have margin, almost like forex, security issues at this exchange are also pretty good..

Bybit's already mobile-friendly enough in my eyes. They've got the mobile site ironed out pretty well, with nice large buttons so you don't fat finger things, and there's four separate tabs for charting, trading, positions and PNL respectively. Pretty sure Bybit's coming out with an official mobile app as well, which should improve things further.

Something else Bybit seems to lack that Bitmex has is quarterly futures, which I know many people take advantage of. Not as big of a deal for me, but it could potentially be a dealbreaker for others.

I agree with you, Bybit is easy to use and user-friendly. You'll not be confused when to tap or click. Because the buttons are separated perfectly. But there is also a difference between Bybit and Bitmex. As what you've said, it can see future states for you to plan and choose your decisions.

Worth calling out that Bybit was the only margin platform not to crash or suffer from overload during the massive bitcoin move

If you weren't already convinced that Bybit is the best margin trading platform, Bitmex was just hacked. Bybit really setting itself apart lately.

Sounds like bybit will be releasing a usd wallet soon as well, eliminating the need to swap pairs

Sorry, why do you say the same? Do you know where and who works on this exchange? Which datacentre do they use?
If ByBit will have the same count of active traders as Bitmex then we will see what it can. I'd be glad to have another good margin platform then Bitmex. But how to check that they can do their work better?

could you tell us more on what advantages bybit has?

Better UI than BitMex. It is pretty important for new potential users and those who never experienced derivative trading previously.

Bybit motto is "We listen, we care, we improve" and 24/7 live chat is far better than raising ticket on BitMex. You can ask anything to Bybit official account on like 8 biggest social media platform in this world.

Last but not least, Bybit allows users to withdraw and deposit in all available crypto while BitMex only allows users to deposit and withdraw in Bitcoin.

Not to mention the underlying technology of the platform

I just test it and I like it. Bybit currently has 35% of the Bitmex volume on BTC and nearly 50% on the ETH/USD which is very good!

Does anybody know do Bybit become 'unresponsive' like Bitmex on a sudden price movements? I'm talking about those moments where the Bitmex API is returning "Busy" and you can't even cancel your orders.

I like Bybit exchange too more than bitmex when it comes to interface and in the roe value that is in a Dollar amount. Also i heard that they add cross margin, definitely a good platform that may overpass bitmex in the future. So to say, there are many advantages of bybit over bitmex. The thing that i didn't like was the conversion, a trader must convert first into other coin before trading which has a fee unlike bitmex.
The last thing are the orders systems in bitmex which is vrry helpful for me i am waiting for bybit if they have a plan to add advance orders.

Sorry, how do you count? And what do you think all orders are real? Many equal orders can say  more than any investigations

Ye, it's the right question. This fact must be the main difference from the Bitmex. I think any who try trade on Bitmex felt such 'great' moment when exchange become frozen

Have never experienced unresponsiveness on Bybit. Main reason I changed

Bybit has a lot more good feature compare to bitmex. It's very handy to use in mobile and trading tools that available there is sufficient analyze chart.
Bitmex is very crappy exchange while bybit has very neat and cool UI/UX design. I'm using bybit for a while and I feel the best user experience there compared
on bitmex.

Well, numbers are from their own sites. At least what Bitmex & Bybit are giving... Are the numbers manipulated, it's another story.

Current Bitmex @ BTC:

24H Volume   1,383,153,078 USD
Open Interest     821,992,112 USD


Current Bybit @ BTC:

24hr Volume     470,111,901 Contracts
Open Interest     172,149,044
Contract Value               1 USD

Glad you agree

You are great. Thanks  ;)  Do you self trust those volumes?

I have nothing against ByBit but I saw so many 'excellent' exchanges with good UI and volumes ... Have anyone investigation or the same about founders, team, location etc? Or it should be made?

That's my major concern too. Bybit has been heavily shilled in the last few months by some so called  'Pro traders' on Crypto Twitter.  Judging from the exchange platform overview, It looks good, really good. But my concern goes beyond just UI/UX. I'm more concerned about the security of the exchange that would be in charge of my funds. I'll keep an eye on Bybit for now. I'm still using 2x leverage on Binance.

Takes time to gain adoption. Bybit reputation has been growing quickly

The Bybit BTC Brawl will be kicking off soon and I've joined as a team leader. If you want to register and trade alongside me here's my team link: https://www.bybit.com/team-detail?contestId=4&teamId=343

In my opinion, Bybit is quite similar to other margin trading platforms, it is similar to Bitmex and Snapex, Binance, ... but it always lacks support bots for us to check. long or short command. At Bitmex we have our own website for statistics of orders and percentage in favor of Long or Short. So when playing margin at Bitmex, it will be easier for you to identify the trend because you have accurate and clear information.
You can refer to this site: https://coinfarm.online/index.asp
Because of this utility, I still appreciate Bitmex. It is safer and we will definitely pay a little fee for that service.

It's quite interesting statistics on-live. I spent some time for the long/short battle  ;D Sorry for offtop
About ByBit. Team's competition is not bad instrument for product PR. Imho if Bybit will make some more friendfull UI for traders (maybe Trailing or someone else) then it will be the killer feature for exchange

They have trailing

I don't think they are unresponsive during pumps. I wasn't here for the last one but a few before it they've stayed very responsive throughout.

They probably have better management of queued requests than bitmex does....

It's a shame they don't have all the trade pairs that bitmex does though but they do have more than binance at least afaik.

You can still use the same bitmex stats to follow the price trend even on Bybit. It isn't like the BTC or ETH price on Bybit will go in the opposite direction as compared to the price in bitmex

---

I have been using bybit for a while. The problem is your limit orders get filled much slower compared to bitmex because of low liquidity especially if you are looking to be a market maker. So this will force one to be a market taker almost now and then when trying to execute sell or buy order and there for you will pay the price through exorbitant fees for every trade you execute.

I don't think there is a best one out there. I used to trade with IG but now with eToro (https://55brokers.com/etoro-review/). Just like the trading community  in eToro.

Honestly, I am having a second thought to use Bybit since I am an avid Bitmex user since before. But, I am also having an experience of overloading too and thinking t switch at Binance. But since I bumped here and read about Bybit, maybe I'm gonna try some trading there with small amount first to try the site.

Does Bybit offers 2fa, for strong security?

You can try the platform for free and they will give you bonus $10 USD for new users (you can't withdraw this but you can use it to trade and make profit, then just withdraw the profit) and up to 50% bonuse for first deposit AFAIK.

2fa is a common security so, why wouldn't Bybit offer it?

Yep, Bybit offers Google 2FA which can also be read using something like Authy for 2FA protection. It's indeed pretty much a standard at this point in time, and even though it's got its own vulnerabilities too, it's another line of defense against anyone trying to hack into your account. The site also offers SMS and Email authentication for a bit of added security too, and as always, you should be using a different password than any others you are using online.

Yes, of course.

previously I have tested this bybit site, I think bybit will be a competitor to bitmex but I am still hesitant to save my funds there, still do not know the safety of their site, I get their airdrop for a few dollars in the form of bitcoin and I test their margin trading using free capital from them, I get profit, I tried to withdraw ETH there and it was processed well, but I left my account there and didn't trade anymore, honestly I like the free one to try it, but I still don't want to play there using my own capital, maybe one day I will try again when the traders there are already crowded

More and more traders are moving there

Hi,

bybit is the best plattform for trading right now

check out this topic "Bybit pay-back, cash-back free bitcoins, without send any


https://bitcointalk.org/index.php?topic=5227533.new#new

Please don't spam this thread.

Yes I am also read good reviews about baybit exchange. This is good choice for new members for doing morgin trading.

In Mobile also it work cool. In this platform we see good features for trading.

Serious doubts about this "exchange".

According to their website, they are registered in BVI (British Virgin Islands) - but a search of companies in BVI provides nothing.

They say they are "headquartered in Singapore and has offices in Hong Kong and Taiwan" - but give no addresses of either.

A lookup of their IP shows they are based in China & hiding behind a privacy guard:

Domain Name: bybit.com
Registry Domain ID: 8845633_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: http://www.godaddy.com
Updated Date: 2019-09-24T01:29:54Z
Creation Date: 1999-08-05T03:52:28Z
Registrar Registration Expiration Date: 2025-08-05T03:52:20Z
Registrar: GoDaddy.com, LLC
Registrar IANA ID: 146
Registrar Abuse Contact Email:
Registrar Abuse Contact Phone: +1.4806242505
Domain Status: clientTransferProhibited http://www.icann.org/epp#clientTransferProhibited
Domain Status: clientUpdateProhibited http://www.icann.org/epp#clientUpdateProhibited
Domain Status: clientRenewProhibited http://www.icann.org/epp#clientRenewProhibited
Domain Status: clientDeleteProhibited http://www.icann.org/epp#clientDeleteProhibited
Registry Registrant ID: Not Available From Registry
Registrant Name: Registration Private
Registrant Organization: Domains By Proxy, LLC
Registrant Street: DomainsByProxy.com
Registrant Street: 14455 N. Hayden Road
Registrant City: Scottsdale
Registrant State/Province: Arizona
Registrant Postal Code: 85260
Registrant Country: US
Registrant Phone: +1.4806242599
Registrant Phone Ext:
Registrant Fax: +1.4806242598
Registrant Fax Ext:
Registrant Email:
Registry Admin ID: Not Available From Registry
Admin Name: Registration Private
Admin Organization: Domains By Proxy, LLC
Admin Street: DomainsByProxy.com
Admin Street: 14455 N. Hayden Road
Admin City: Scottsdale
Admin State/Province: Arizona
Admin Postal Code: 85260
Admin Country: US
Admin Phone: +1.4806242599
Admin Phone Ext:
Admin Fax: +1.4806242598
Admin Fax Ext:
Admin Email:
Registry Tech ID: Not Available From Registry
Tech Name: Registration Private
Tech Organization: Domains By Proxy, LLC
Tech Street: DomainsByProxy.com
Tech Street: 14455 N. Hayden Road
Tech City: Scottsdale
Tech State/Province: Arizona
Tech Postal Code: 85260
Tech Country: US
Tech Phone: +1.4806242599
Tech Phone Ext:
Tech Fax: +1.4806242598
Tech Fax Ext:
Tech Email:
Name Server: NS-407.AWSDNS-50.COM
Name Server: NS-815.AWSDNS-37.NET
Name Server: NS-1675.AWSDNS-17.CO.UK
Name Server: NS-1516.AWSDNS-61.ORG
DNSSEC: unsigned
URL of the ICANN WHOIS Data Problem Reporting System: http://wdprs.internic.net/

There are no details of who owns them, who runs them or of any Team members whatsoever anywhere.

When noob accounts suddenly pop-up out of the blue swearing how great they are, my suspicions are aroused - use this exchange at your peril - way too many red flags here.

If you want to trade cryptocurrencies with a leverage, then you need to choose this particular cryptocurrency exchange. But you must first thoroughly study the trading conditions.
The Bybit exchange website is simple, from the moment of the first acquaintance it does not cause difficulties.
Several contracts for trading, not overloaded work panel, all unnecessary can be quickly removed. Accordingly, there is a difference in quotes, as on other exchanges - a feature of the market. But in practice, it causes minimal inconvenience when analyzing from another platform. Here, the calculation is still for long trading, and not fast transactions, as in the entire crypto market.
What I like about Bybit is that you can trade in large amounts and not be afraid to keep money in your account on the exchange. In relation to other exchanges, I have some kind of paranoia, because I have repeatedly lost money on exchanges, so I try to keep a small deposit and trade on different exchanges in order to reduce the risk of losing funds, but with Bybit there is no paranoia and my fears disappear.
Professional traders will certainly appreciate the instant execution of orders, the quick withdrawal of money, and the support work, which always helps with any questions (and does it quickly enough, against the background of some other representatives of the industry).
Probably of all the cryptocurrency exchanges with which I worked, Bybit is one of the most dynamically developing and at the same time reliable.

bybit world series of trading kicks off on the 10th.

If youre not on bybit yet make sure to register for a shot at w00 btc prize pool

I'm a little shocked that some platforms don't have 24/7 support. Every trading platform must have around the clock support that responds quickly to user help, because they are working in a business with time-sensitive markets and by intuition, if people ask how to cancel and place orders and set stop losses and add more margin, these need to be answered immediately or trading opportunities can be missed or traders will incur more losses unnecessarily.

Tickets are too slow to use as a support method for trading questions but they are OK for other things.

I don't agree with Bybit as the best margin trading platform, because Binance is still the best right now. Although Bybit exchange
not the best, but that doesn't mean Bybit is a bad margin trading. After all, the trading volume of Bybit is also high, so Bybit is
indeed a great alternative to a margin trading platform.

So many traders are merging on Bybit, their growth is great because the platform works well with very little splilage and great promotions.

binance is indeed the main choice of trading platform and I think the best, but I personally also use other platforms not only binance, because some of the coins I own are also not available on binance, like bybit which I think is a good platform, we can use it safely, because basically security is what we are looking for, assuming our funds will be safe, and good service

Bybit is operating well

They are very competent

The customer service is good

The bonus rewards are generous

But the most important is to make profitable trades from a profitable strategy

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With this card, you can experience the convenience of off-ramping your crypto directly from your Bybit account anytime, anywhere.

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It used to be a good exchange back then, but i don't think my opinion about them is the same, especially after forcing me to undergo facial verification every time I wanted to withdraw my funds urgently on an account that is fully KYC verified.

Be very careful withdrawing from that exchange, especially if your device does not have a good camera or no camera at all. Your funds will be stuck there until you verify your face  ::)

It also turns out that I was not the only victim.

Bybit now forcing users to carry out Facial recognition when withdrawing. (https://bitcointalk.org/index.php?topic=5429836.msg61459095#msg61459095)