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Bybit: Meet the Best Cryptocurrency Exchange of 2023
01/03/2023
Some of the big Cryptocurrency Exchanges have been lacking in recent times, whether for functionality, centralization or reliability. Find out now why Bybit is the Best Cryptocurrency Exchange in 2023.
Bybit: Bitcoin and Cryptocurrency Exchange
Currently the Best Cryptocurrency Exchange on the Market!
Certainly if you are American or even foreigner and you want to know the Best Cryptocurrency Broker on the Market Today (and maybe in the whole world), know that we, from the Bitcoin Lovers website, recommend Bybit - both for beginners and for more experienced traders and holders. This Exchange is much more complete than its competitors and we will prove it to you throughout the article.
The Bybit exchange has been growing a lot since the year 2021 and is slowly replacing the classic and huge Binance (the largest cryptocurrency exchange in the world).
The most interesting thing about the Bybit cryptocurrency exchange is that its platform is extremely similar to Binance - a beautiful marketing strategy by the creators to facilitate the user experience - and what's more, it's more decentralized (the kind of thing we all of the crypto world we want).
It is also possible to trade derivatives - or for the more knowledgeable: futures markets. With this, it is possible to bet on the fall or rise of Bitcoin and other Cryptocurrencies. In reverse markets it is also possible to trade using your Cryptocurrencies as collateral. We really like this type of Trade.
It is also important to say that we can buy stablecoins like Tether (USDT) and USDC for those who do not trust Tether. And, in addition, it is possible to trade with the USDC itself (which very few brokers allow).
Why is this exchange better than Binance?
Binance has been considered by many as "the biggest and best Cryptocurrency Exchange in the world", however, to enter here in EUA, the IRS has been putting a lot of pressure on the company about passing user transactions to the government.
Nowadays, Binance now says not to declare its transactions to the EUA government, however, in the guts of the exchange, it is very likely that they have been doing this for a long time - which is inconvenient for many traders and holders.
Our recommendation is the Bybit broker, as it is more decentralized and reliable! Plus the fees are even lower!
Why do we recommend Bybit and not another broker?
At first, Bybit, this Cryptocurrency Exchange, is very simple to use - it's basically a Binance - which ends up making users more comfortable, because like it or not, today, in 2022, most people still use Binance, so it brings more familiarity when operating on the platform.
Bybit is a very safe brokerage company and its differential is the program for new users, where it shows Confidence with them! Not to mention that the Futures Markets tools are way above average compared to any other broker on the market; you can adjust your stop-loss just by dragging the button as the asset goes up or down.
You will also be able to operate leveraged up to 125x and use the inverse contract market, where you can use the Cryptocurrency itself as collateral.
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The Futures Markets Platform:
In some countries like Brazil, Futures Markets does not appear as available, but to release this tool in our account, just change the language to Portuguese of Portugal or leave it in English.
See how practical and intuitive the inverse markets platform is. Accessing it is very simple: just go to Derivatives > Inverse Contracts and select the Cryptocurrency you want to use.
In addition, you can use the traditional futures markets with a similar process: Derivatives > Perpetual Contracts and in this case, use Tether Dollar as collateral.
To use USDC Dollar, the process is the same, but instead of going to the Perpetual Contracts market, just go down further and go to USDC Options and choose the cryptocurrency you want to use.
Bybit: Inverse Markets with Cryptocurrencies
There are several positives here in this part of the Exchange, the first is the fact that the Order Book is fairer. There, when we buy or sell our positions according to "market orders or limit orders", the broker charges a much lower commission fee, especially if we use Limit Order.
There is also the possibility of adjusting our stop-loss! In this trade that we entered on Ethereum, we bought at 1,471 and left the stop-loss at 1,197. Just by dragging the green line, we can change our stop as the market goes up or down.
We do not recommend that you use leverage in this type of trade, as this will prevent you from being liquidated.
It is also important and very valuable to say that, if you are a Holder and do not like to trade, if you prefer to buy positions for the medium/long term, Bybit has a zero rate for the Spot market. Therefore, it is much cheaper to buy and transfer to a Hot or Cold Wallet and save expenses, especially if you like to buy cryptocurrencies with a heavier hand.
Why don't we recommend American brokers?
In the case of Unitates States, there are many brokers with various Cryptoasset options such as: Bitcoin, Ethereum, Cardano, Polkadot, Solana, Dogecoin and Shiba Inu... absurd.
Another extremely relevant point is the security and decentralization of the broker. While some of the international brokerages have end-to-end security and the option of own wallet, Brazilian brokerages rarely do this. Bybit Official Website
Lucas Lippe
The idea of freedom is fascinating and Bitcoin gives us that in many ways. Explaining ideas of a decentralized web on the Bitcoin Lovers website.