The session of AMA ( Ask Me Anything ) with Bybit was conducted on 6 June 2022 at 7:30 PM IST (2 PM UTC) and lasted for 1 hour.
Kilo from Bybit has joined us for this AMA session.
Can you give a brief explanation about Bybit?’ What popped up in your mind to create such a platform in the crypto space?
Bybit (https://go.bybit.com/e/OcGs0GHWUpb) is a platform for all crypto lovers. We started in 2018 and grew from a derivatives only trading platform to a full cryptocurrency marketplace, leading to a fivefold increase in our user base across more than 160 countries. Since then, we have expanded our range of products greatly.
We currently have a Spot market, Derivatives products, NFT Marketplace and P2P trading. We also have Bybit Earn which offers staking products — our aim is to have something for everyone. In recent days we’ve introduced leverage tokens, and Options and cross margin trading are on the way! Many new products! You can feel comfortable using Bybit with our 24/7 multilingual customer support and deep liquidity. #Bybit
So what are your main features and advantages that discern you from other Exchanges?
Bybit offers the best in trading, whether you’re a spot trader or into more complex financial products like perpetual contracts.
When trading on Bybit, you can be assured of deep market liquidity and flawless trade execution. You won’t have to worry about the exchange freezing up during periods of high volatility either.
On top of that, Bybit has a dual-price mechanism that helps to protect traders against market manipulation. Whether you’re using the website or mobile app, there is an intuitive and sleek UI that makes plotting your TA a breeze. Another aspect that sets Bybit apart is our 24/7 multilingual support team which is always ready to help. We also have a real passion for crypto which is reflected in the quality of our products, you will be hard-pressed to find more variety or attention to detail in the crypto sphere. #Bybit
Bybit also has a referral program. Can you please explain to us the mechanics of your referral system? What will be the benefits received by the referrer?
Our referral program rewards our traders for referring friends with derivatives bonuses and unlimited rewards cards worth up to $1,000 each.
A qualified referral refers to a new user who registers on Bybit with your referral code, makes a first time deposit of no less than $10 equivalent, and meets the minimum total trading volume of $10. For this purpose, Total Trading Volume = Derivatives trading volume + 4 * Spot trading volume.
For each qualified referral, both you and your friend will get a $20 derivatives bonus and for every $100,000 trading volume your referee makes (up to $5,000,000), you will get a rewards card with bonuses or coupons that can be as high as $1,000. Register today, start trade and invite your friends
Check 👉 here (https://go.bybit.com/e/NcGs0GHWUpb)
Could you share a bit about security and also what benefits you provide to encourage users to choose your platform?
Bybit takes security very seriously. We operate a hot wallet and cold wallet withdrawal system — for convenience, users can make instant withdrawals of crypto at any time of day. For large withdrawals, however, there is a 3-time per day processing schedule, and of course, you can whitelist your wallet for extra security. If you have an issue, our multilingual support team is available 24/7 to assist you. With Bybit you know you will get deep market liquidity and flawless trade execution, with a dual-price mechanism to protect our traders from price manipulation.
Bybit also boasts an intuitive UI, a responsive and helpful support team, and a top-of-the-range line of crypto-based products and services. #Bybit
Are there Tutorials or Instructions for the community to understand more about Bybit, and does your platform accept feedback from the community?
We have a YouTube channel (https://www.youtube.com/c/Bybit) which has lots of great content including tutorials. For those who are new to trading derivatives, I would recommend checking out this playlist 👉 https://www.youtube.com/playlist?list=PL-AeeeA9jHn5fLKyb8lkkWdN9I6xhjR7B
We also have Bybit Learn, which is a great resource of knowledge of all things crypto. Check 👉 here (https://go.bybit.com/e/PcGs0GHWUpb) and also check here (https://go.bybit.com/e/QcGs0GHWUpb)
At Bybit, we strive to listen, care and improve and as such, we are always looking for community feedback. We recently added a one-stop community feedback portal called Bybit Listens (https://go.bybit.com/e/RcGs0GHWUpb) where you can share suggestions. In addition to this, we have regular ByVotes events where our traders can vote on our next spot listing.
Do you have any rewards or campaigns for your users?
Bybit is always running exciting promotions where traders can win some awesome prizes. You can check all promotions we have 👉 here (https://go.bybit.com/e/ScGs0GHWUpb)
One of the most interesting at the moment is deposit campaign where traders can get up to $3,000 in bonuses 👉 https://t.me/Bybit_Announcements/927
Check out ByVotes (https://go.bybit.com/e/UcGs0GHWUpb) is a fun way for our new and existing traders to be exposed to some cool new projects and to wield some influence by voting while also having the chance to win an airdrop!
Also, newcomers can get even more rewards be completing simple tasks on ours Rewards Hub 👉 here (https://go.bybit.com/e/TcGs0GHWUpb) To be updated and not to miss any cool campaigns follow us on our social media channels: Telegram https://t.me/BybitEnglish (we also have 18 local communities there from all over the world!)
Discord https://discord.gg/bybit Reddit https://www.reddit.com/r/Bybit and our Telegram Announcements Channel https://t.me/Bybit_Announcements to get all the latest news and see our exciting promotions! 🔥
Before we proceed I would like to share a special Lucky Draw we prepared for your community with a prize pool of $500USDT and 3 NFT.
Follow this link to learn more on how to participate in the Lucky Draw and submit your application 👉 here (https://forms.gle/7gBjcjq81UH4zkrp7)
- Is there some possibility to apply with NFT to Bybit marketplace?
Thank you for your question! Yes! Bybit is now taking listing applications so contact us if you have an awesome NFT project you’d like to see on Bybit!
📢 Apply to Have Your NFT Project Listed on Bybit
🚀 ICYMI — Bybit’s NFT Marketplace is now fully launched.
✅ We’re now taking listing applications so contact us if you have an awesome NFT project you’d like to see on Bybit!
-There are so many new features in Bybit recently, including ByVotes. How can we participated in that event? Is there any upcoming ByVotes?
Thank you! Yes, we are very product-oriented at Bybit. And yes, we just announced our ByVotes Chapter 2! Check it out here 👇
🚀 Are you ready for Round 2? This is your chance to tell us what you’d like to see listed on our Spot market! Plus you will get an airdrop if you vote for the winning project.
🤩 This time around, pick your favorite from Vita Inu ($VINU), Kunci Coin ($KUNCI) or Antex Ecosystem ($ANTEX).
- What is liquidity mining and how it works. Also mention some latest/upcoming amazing features on the Bybit?
Great Question! Recently we hosted a #BybitDiscoverySession on Bybit English to explain and go into detail about Liquidity Mining! Let me share it with you.
And to stay updated with the most recent announcements and promotions check 👉 here (https://blog.bybit.com/en-US/whats-new/announcements/)
- A global exchange like #Bybit will have investors from all over the world. Do you have local and global communities for engaging the communities? Or is it meant for a small group of people?
Yes! Bybit is global, however, there are some Restricted Countries, you can learn more about it here 👉 https://help.bybit.com/hc/en-us/articles/360039750013-Service-Restricted-Countries
If interested in learning more about Bybit Communities check here 👉 https://www.bybit.com/en-US/promo/aboutus
(https://t.me/BybitAfrica)🇦🇪 🇸🇦 Arabic
(https://t.me/BybitChinese)🇳🇱 🇧🇪 Dutch
(https://t.me/BybitPortuguese)🇷🇺 🇧🇾 Russian
(https://t.me/BybitRussian)🇿🇦 South Africa (https://t.me/BybitSouthAfrica)
(https://t.me/bybitukrainian)🇻🇳 Vietnamese (https://t.me/BybitVietnamese)
- I read that ByBit has its own educational materials on its “ByBit Learn”. May I know, is this available and accessible only for ByBit users exclusively or can anyone who are curious about blockchain, cryptocurrency and trading can have access to your educational platform?
Yes! Bybit Learn is the place to learn everything about Cryptocurrency & Trading, for FREE!
Check it out here! https://learn.bybit.com
Quick reminder! There is a Lucky Draw we prepared for your community with a prize pool of $500USDT and 3 NFT. Follow this link to learn more on how to participate in the Lucky Draw and submit your application 👉 here (https://forms.gle/7gBjcjq81UH4zkrp7)