Review on Bybit by Stephen Toluwani
The best Derivatives trading platform
For a long time now, I have been wanting to write the review on the Bybit derivatives exchange as it symbolises as my first derivative exchange in which I have ever used since my initial initiation into the cryptoverse. I got persuaded and convinced about using his exchange since my very first day of using it. From the very sleek User Interface design, to The low trading fees and the extremely high level in leverage being offered, I see no reason why not to use this exchange over and over again.
When addressing the picture of this exchange that many people will like to use is its on-ramp spot exchange of which users can use to convert their bitcoins to USDT or XRP and pay depending on what they want which will kind of lessen withdrawal fees or deposit fees from other exchanges or wallets.
The security of the exchange is also a noteworthy points to take. I like the fact that they have been heavily insured by some insurance company despite their high security profile and no history of breach. it security feature like the two-factor authentication actually backfired on me when I lost my mobile device and couldn't access my funds and my account. when contacting support in regards of that, I was asked to provide security documents which initially isn't made a requirement of which unfortunately I don't actually have access to any making me forfeit my account and whatever that is left in it temporarily. all the same all over again this exchange will be my number one platform for you.
Pros
- Bybit exchange as a derivatives trading platform offer 100x leverage on contract
- They offer very low trading fees of around 0.075%
- KYC is not made a requirement to trade, withdraw or deposit thereby allowing for anonymity
- Provide grounds for exchanging coins for another like a spot exchange by integrating with third-party services
- The exchange has a very sleek UI design for both its mobile app and website
- Two Factor authentication and extra security features are being placed in store for every account
Cons
- Two-factor authentication made me lose access to my account with some funds in it. Recovering it requires KYC
