5e44

[R20231030]

34a3

[Bitcoin_Arena]

Good initiative OP. This could be a good discussion thread for ByBit who have been making some drastic changes of late
As an old user of Bybit, I haven't encountered any major problems with them so far. The live chat support is still quick as compared to most exchanges support services I have tried. I do hope all goes well with them without any major incidents like hacks.

I was surprised to discover that they have now introduced spot markets in their platform. Though they are still just 2 trading pairs, it's a start. The 3 withdrawal times per day seems to be a good future on the side of security, but now that they have introduced spot markets, we will wait to see if they will make changes on withdrawal times.

[magneto]

With the recent changes to Bitmex's fees, Bybit's fee structure definitely looks a lot more appealing especially for aspiring market makers.

However, the KYC is definitely a drawback (although expected at this point).

I would also add that I would never invest in the DeFi mining or cloud mining products that they offer. Sure, they might be a legitimate exchange ,but that doesn't necessarily mean that their offerings are going to be profitable - in fact cloud mining in general seems to be a very grey area that is not well policed and is laden with false promises.

[Bitcoin_Arena]

ByBit continues to develop its recently launched spot trading. A couple of days ago, the exchange added a new XRP\USDT, XRP\BTC spot pairs:

Yep made some decent profits on the XRP/USDT spot market when I was so busy to trade derivatives  

How I wish they would add a dozen more trading pairs for decent and hot selling coins like DOT, SOL, LINK as quick as possible. I am tired of switching between Binance (for spot) and Bybit(for derivatives)

However, the KYC is definitely a drawback (although expected at this point).

Their KYC requirements are still okay for now. How many platforms let you trade derivatives minus verification today?

[Bitcoin_Arena]

Bybit will now have instant withdrawals like other traditional spot exchanges, as opposed to the 0:00AM UTC, 8:00AM UTC, and 4:00PM UTC withdrawal times they had initially. In an email I received, the instant withdrawals have limits;



It's great to see Bybit stepping up, especially after the Binance drama. They may not have so many pairs clattered over like Binance, but it's a better option.

[sub435]

hello, are you relate to bybit? i just leave this here: https://bitcointalk.org/index.php?topic=5358224.new#new

[Bitcoin_Arena]

hello, are you relate to bybit?

He isn't if you carefully read the disclaimer in the OP

I am not an employee of the ByBit exchange. The material has been prepared for informational purposes only. Remember, margin trading is a dangerous business. .

I read your case, and I would advise you to read, learn and understand more about trading derivatives and using leverage or else you will lose all your life savings. Like a famous saying goes "A bad workman always blames his tools" Don't be that bad work man

[Bitcoin_Arena]

Bybit are introducing a new fee structure and scrapped off the old one that had that interesting Market marker rebate  

And then there are now this VIP levels as well that I used to see in Binance.




The new changes will be implemented Starting from March 18, 2022 at 6AM UTC

More details: https://help.bybit.com/hc/en-us/articles/4534682907545-Bybit-New-Trading-Fees-Structure

[Daltonik]

Following coinbase, another of the largest exchanges is preparing to lay off employees, journalist Colin Wu reports today on Twitter that Bybit has distributed an internal letter indicating that the number of employees has recently grown out of proportion to the growth of the company's business itself.

https://twitter.com/WuBlockchain/status/1538806018632605696

ByBit has already responded to his message by saying that the exchange is exploring a way to eliminate duplicate functions and create smaller but more flexible teams to increase efficiency.

https://twitter.com/WuBlockchain/status/1538829046238179328

[Daltonik]

Today I received an email from ByBit, as probably all exchange users, that the mark of 10 million users has been reached and in honor of this event, a promotion is being launched from 10:00 UTC on September 2, 2022 and until further notice, which includes the following:
 
 🎉Reward 1: zero commissions when trading all spot pairs

 🎉Reward 2: VIP status 1 for a deposit of 50,000 USDT

 🎉Reward 3: APY up to 12% for staking in Bybit Savings



Promotion announcement: https://announcements.bybit.com/en-US/article/celebrate-10-million-users-with-0-fees-on-spot-bltaaf65de47bd7e796/?medium=email&source=official&channel=mkt_&campaign=bybitperfect10&content=ru&dtpid=1662478108670&uid=kDJ5jYEwpr3jpdol&utm_source=sendgrid.com&utm_medium=email&utm_campaign=website

[JeromeTash]

bybit is the best exchange guys...

Not a chance

I see where you are coming from, you are an affiliate, so your opinion will obviously be biased.



Bybit used to be good, but not anymore. They even force already KYC users to do facial verification when withdrawing their funds, all the time. Check this thread Bybit now forcing users to carry out Facial recognition when withdrawing.