Easy Buy Feature on ByBit What is it?

[Davidvictorson]

Yesterday, I noticed this feature on my ByBit App - "Easy Buy". My first thought was Easy buy don reach here. For those who are not familiar with the name, Easy Buy is the company that lets you buy now and pay later under some strict conditions like you making an initial down payment. Example is people buying phones now and making complete payment later. When I clicked on it, it took me to a new window that has a buy and sell option just like a regular p2p interface. Because I have learned a hard and bitter lesson in the past not to play around carelessly with some features on my crypto app that I don't understand, so as not to lose my funds, I left it and did my business there and logged out.

If you have read my narration up to this point, thank you. Question - Do you know what the "Easy Buy" button is for? Have you used it before?

Thank you.

[Amphenomenon]

Its just an easier way of buying any cryptocurrency on the exchange  with other cryptocurrency, Its`s similar to swapping or converting coins but they made it easier from the fact by just using this feature, you don`t have to be looking for the conversion session or the likes in the exchange and also easily choose to move this coin to your funding, spot or derivatives account. Also having 0 delay, No slippage  and no fees
I don`t think the fiat features of buying here as been added

[Oshosondy]

If you click on the easy buy, you will see this:



You can see the result when I want to try it using USDT to buy bitcoin on using Easy Buy. The USDT is on my united trading account. It is in funding account by default but you can select unified trading account or inverse derivative account. Any of the three can be chosen directly on the Easy Buy. So it makes the buy easy.

You may not see unified trading account if you have not set unified trading account but if you select on the funding account at the lower part, you will see other accounts on the exchange.

As of now it has zero trading fee. The buy would be filled at market price with no slippage or delay.

and also easily choose to move this coin to your funding, spot or derivatives account.

Not that you can easily choose to move the coins to other accounts like spot or derivative. That is not correct. If the fund is in funding account, you can easily choose another account like inverse derivative account and use it to convert the coins on inverse derivative account. If it is on another account that is not funding, choose the account of your choice and convert the coin in the account to another coin. It is in funding account by default. So you can use it to convert coins on your funding account by default.

I don`t think the fiat features of buying here as been added

Not yet added.

[Salahmu]

The easy buy is not a serious thing to be concerned about because is just another method of buying and selling of crypto in the platform but however is a good thing they have that feature because is another way of buying coin instead of stressing ourselves going through the spot to either buy or sell there coins, perhaps I believe that feature was added because the platform has already known that there are users who might actually find it difficult in locating the actual trading point, so they made it very easy and bold for someone to easily noticed it.

However is very nice of you coming up with the observation because I realized that so many persons has been using the platform without even knowing or understanding how some of the features normally work and just like you there are people who have not really tried it before, so sometimes is very important for people to understand or read in other to understand all the features on the platform they are working on.

[DaNNy001]

Well from what I have read about this so called easy but feature it takes 0 fee which is the most interesting part of it for me because sometimes you want convert your coins maybe from Bitcoin to USDT on other exchanges there is additional fee for the swapping of the coins which sometimes irritates to some level. Although I don't deal on bybit exchange anymore because of the crazy vendors that are filled up there.

[AVE5]

If you have read my narration up to this point, thank you. Question - Do you know what the "Easy Buy" button is for? Have you used it before?

Thank you.

You're actually on point with how you understood the domain. The Easy Buy domain is actually a simplified alternative for easy accessibility of users who doesn't have those technical knowledges when using the exchange service p2p feature.
It's more designed for non technical usability.

[adultcrypto]

Its just an easier way of buying any cryptocurrency on the exchange  with other cryptocurrency, Its`s similar to swapping or converting coins but they made it easier from the fact by just using this feature, you don`t have to be looking for the conversion session or the likes in the exchange and also easily choose to move this coin to your funding, spot or derivatives account. Also having 0 delay, No slippage  and no fees
I don`t think the fiat features of buying here as been added

When I saw the caption I was thinking it is something new or similar to the normal Easy Buy that people use to buy phones and other gadgets. I was later I realized it is what I already know which is a fast way of buying cryptocurrency. Every exchange that offer p2p service have that option which allow users to buy cryptocurrency very fast but the challenge is that the exchange rate for selling crypto to fiat is a little lower than the that in the market through the merchants and for buying crypto, the exchange rate is also higher than those of the merchant. But the difference is small and insignificant. It is so nice seeing how big Bybit is becoming but there are still concerns about their support.

[Mr Reporter]

Yesterday, I noticed this feature on my ByBit App - "Easy Buy". My first thought was Easy buy don reach here. For those who are not familiar with the name, Easy Buy is the company that lets you buy now and pay later under some strict conditions like you making an initial down payment. Example is people buying phones now and making complete payment later. When I clicked on it, it took me to a new window that has a buy and sell option just like a regular p2p interface. Because I have learned a hard and bitter lesson in the past not to play around carelessly with some features on my crypto app that I don't understand, so as not to lose my funds, I left it and did my business there and logged out.

If you have read my narration up to this point, thank you. Question - Do you know what the "Easy Buy" button is for? Have you used it before?

Thank you.

Op to be sincere I don dey see this easy buy of a tinx no be today ohh but I just lock up like u base on any little mistake mak funds no go tranfre, but I never enter am before self thanks to u say u ask this useful and helpful question, when I was reading I did wanted to ask this questions to if you guys don't mind.

- What are the minimum and maximum transfersaction limits for Easy Buy?
- Why is the exchange rate different from the last traded price on Spot Market?

 

[Mate2237]

You can see more information from this link https://www.bybit.com/en/help-center/article/How-to-Get-Started-with-Easy-BuySpot_Trading#a. It is a way of trading to purchase or sell any asset of your choice. But it is more of converting any coin to another one then use it to buy what you want. And I think everything is well explained in the link with pictures to demonstrate the steps to do the Easy Buy. There is no need to panic but if is good to be careful because as you said if you don't know some of the features innan exchange it is better to avoid it.

As for me in ByBit I only use it to sell cryptocurrencies and nothing more. When I want to buy I use decentralized exchanges to buy.

[Cryptoprincess101]

Its just an easier way of buying any cryptocurrency on the exchange  with other cryptocurrency, Its`s similar to swapping or converting coins but they made it easier from the fact by just using this feature, you don`t have to be looking for the conversion session or the likes in the exchange and also easily choose to move this coin to your funding, spot or derivatives account. Also having 0 delay, No slippage  and no fees
I don`t think the fiat features of buying here as been added

Okay but can you still buy assets at the exact current price or they will increase the price as at the time of trying to convert your coin to another, the reason I asked this question is because a lot of exchanges normally change the current price of any coin you want to convert to, like they will increase the price so it is almost same as taking fees in such a case because the little fractions they do take when they increase the current price of the coin from the actual price you wish to make your conversion is still uncalled for. So in such situation like that you may feel it doesn't involve fees but they will be taking it in another form without you knowing.

[Cryptomultiplier]

Yesterday, I noticed this feature on my ByBit App - "Easy Buy". My first thought was Easy buy don reach here. For those who are not familiar with the name, Easy Buy is the company that lets you buy now and pay later under some strict conditions like you making an initial down payment. Example is people buying phones now and making complete payment later. When I clicked on it, it took me to a new window that has a buy and sell option just like a regular p2p interface. Because I have learned a hard and bitter lesson in the past not to play around carelessly with some features on my crypto app that I don't understand, so as not to lose my funds, I left it and did my business there and logged out.

If you have read my narration up to this point, thank you. Question - Do you know what the "Easy Buy" button is for? Have you used it before?

Thank you.

Just like you who don't meddle in affairs that is less understood as regards strange features on any exchange, I too haven't tried to use the 'easy buy' feature just yet, until it serves a purpose that is different from the normal trading p2p, transfer or withdrawal that I would normally opt for.

These days these exchanges come up with upgrades that embed such features so as to make operations seamlessly easy for both newbies and oldies just like the integration of artificial intelligence and bots to facilitate easy trading.
Am not surprised if newer features like such would be included in newer upgrades because the world is warming up to cryptocurrencies and many legit exchanges even though they are veering into observation of regulatory protocols, will tend to have functions just like any regular banks would for fiat use purposes.

The easy buy feature enables a potential investor to buy cryptocurrency or buy fiat in any quantity or denomination or currency of choice with as much as little fees, compared to other methods one would have opted for when considering purchase of cryptocurrency or any countries currency.

 

[Davidvictorson]

Thank you all for your very informative answers. I understand it better. I even think the part I understand the most is that it doesn't have a fiat feature yet. Damn. I can't wait to bypass those p2p traders and do transactions from the exchange app straight my bank.

Thank you also Matte for providing me with the link for further reading. I'll do so.

Since I am satisfied with the answers, I think I will lock this thread now to prevent repetitive replies otherwise called spamming.