Bybit Referral Code & Sign Up Bonus

Bybit is the fastest growing cryptocurrency derivatives exchange headquartered in Singapore. They offer up to 100x leverage perpetual contracts on Bitcoin, Ethereum, EOS and Ripple. What separates them from their main competitor, Bitmex, is their 24/7 live customer support.

Bybit Referral Code & Sign Up Bonus

Free $10 Sign Up Bonus For New Users - No Deposit Required
Free $10 Sign Up Bonus For New Users – No Deposit Required!
Free $50 Sign Up Bonus When You Deposit At Least 0.2BTC or 6ETH
Free $50 Sign Up Bonus When You Deposit At Least 0.2BTC or 6ETH!

How To Use A Bybit Promo Code

To use a Bybit referral code click on the green “Click To Reveal Referral Code” button above. This will reveal the referral code below and open a new window and take you to the exclusive Bybit promotions page. From this page you can claim a variety of different Bybit coupons and bonuses when registering your new account.

Bybit Promo Code

About Bybit

ByBit is a cryptocurrency exchange that’s so new, it’s still a bit wet behind the digital ears. Launched in December 2018 and headquartered in the British Virgin Islands, it focuses on the trading of Bitcoin (BTC) for US Dollars or Ethereum (ETH) for US Dollars. ByBit is all about leveraged trading and to that end it allows margins of up to 100x. Besides allowing margins that should make novices very wary, ByBit’s other claim to fame is a matching engine that can handle up to 100,000 transactions per second. If true (and we have no reason to think it’s not) that means you’ll likely never have to worry that you’re going to miss an opportunity because the matching engine got held up processing orders in front of you.

ByBit Fees

ByBit operates on what they call a “maker/taker” fee structure. Using this fee model they provide rebates to those that add liquidity to the exchange and they charge a fee to those who remove, or take, liquidity from the exchange. While there’s a lot of grey area within that description, it is nonetheless generally accurate.

If you place an order that is executed on the spot you are, in effect, taking liquidity off the ByBit books and you’ll be charged a fee of 0.075% for that trade. If you place an order that’s off the current price and sits for a bit you are in effect, adding liquidity to the exchange and you’ll receive a rebate of 0.025%.

There’s also a “funding rate” that is essentially a finance charge that’s determined by factors such as market conditions. As such, it will change on a regular basis. The funding rate is applied at 8 hour intervals. Finally, ByBit imposes a withdrawal fee of 0.0005 BTC, which is actually quite reasonable when compared with most other exchanges. And it needs to be mentioned that you will likely incur a small network, or “miner”, fee by withdrawing your Bitcoin from ByBit.

Who Can and Can’t Use ByBit

It’s more than a bit ironic that a cryptocurrency exchange that features BTC/USD and ETH/USD trading is closed to US traders. But such is the state of the regulatory universe at the moment. Many governments still don’t know what to make of crypto and so they ban it outright. Others, like the US, are hell-bent on bringing it under the thumb of regulators. Which is, of course, anathema to the “currency without borders” founding principle of crypto. That said, it is what it is and it’s closed to US traders.

Platform Security

Being such a new exchange, it’s tough to get a read on just how secure ByBit actually is. Tough, but not impossible. We know for instance that they practice cold storage. Which means they keep the bulk of the crypto deposits in offline wallets, which makes them essentially impervious to hacks. A certain percentage of assets are kept in hot wallets, however, that are theoretically vulnerable. But this is unavoidable since they need to be readily available for traders who wish to make withdrawals.

Should funds need to be transferred from cold storage, there is a multi-signature address scheme in play and the entire site is protected by robust SSL encryption. So if you do not see the secure padlock icon in your browser when attempting to visit the ByBit site, it means you have likely been redirected to a phishing site and you should exit immediately.

ByBit Referral Program

ByBit also has a referral program in place that’s not exactly earth shattering, but is better than nothing. Should you refer a customer to the exchange who deposits at least 0.02, you’ll receive $10.

About Leveraged Trading

Finally, we need to say a few words about leveraged trading, which is the ByBit stock and trade. If the notion of trades leveraged by 100x their value scares you a bit. Congratulations. You’re normal. With that kind of leveraging the possibility for gain – should you guess right – is enormous. Which of course means the possibility of staggering losses is also enormous. You could wind up losing $10,000 on a $1,000 trade if Bitcoin moves a mere 10% in the wrong direction. This means that you really need to be on top of your game before wading into the deep end of the leverage pool. As such, leveraged trading on this scale is really the domain of the experienced trader who has his or her finger squarely on the pulse of the crypto markets.