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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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Bybit is a top platform for advanced traders, offering extensive derivatives and leveraged trading options with competitive fees. It excels in security and user experience but may be complex for beginners due to its advanced features. Geographical restrictions, particularly in the U.S., limit access, and withdrawal fees can vary. Overall, Bybit is well-suited for experienced traders looking for sophisticated tools and high-risk trading opportunities, but beginners should approach with caution.
Overview
Quick Facts
Bybit excels as a major platform for cryptocurrency and derivatives trading. Targeted towards professional traders, it offers numerous features, a lucid trading view, and competitive fees. Bybit is a favored choice for expert crypto trading.
Informations
Pro's & Con's
- Clear trading view
- Large selection of trading tools
- Low fees
- Might be complex for beginners
- No regulation
Bybit
Features
Feature Overview
Unique Features
- Spot, derivatives, bot trading, and copy trading8
- Bybit Earn
- Launchpad
Tradable Assets
- Cryptocurrencies
Trading Options
- Derivatives
- Margin trading (leverage)
- Short/Long
Our
Bybit
Review
Test Result
Conclusion
Bybit is a top platform for advanced traders, offering extensive derivatives and leveraged trading options with competitive fees. It excels in security and user experience but may be complex for beginners due to its advanced features. Geographical restrictions, particularly in the U.S., limit access, and withdrawal fees can vary. Overall, Bybit is well-suited for experienced traders looking for sophisticated tools and high-risk trading opportunities, but beginners should approach with caution.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
Bybit
User Reviews
The Bybit interface has been praised by users, who find it to be simple and intuitive. Although some beginners may find some features challenging, the overall design is excellent, with a user-friendly experience that is accessible to both novices and experts.
Bybit has become known for offering a range of cryptocurrencies and giving users plenty of trading tools to choose from. Advanced traders have generally praised the derivative and margin trading options on the platform, but they would like to see more centralised exchange and fiat pair options available.
Feedback on Bybit’s beginner friendliness is varied: the interface and learning resources were viewed positively by some, but intimidating to others due to the complexity of some trading features.
Bybit is known for competitive fee structures. However, the transparency of the fees for overnight positions and financing can be improved on Bybit, some users believe.
Many users praise the security measures taken by Bybit, which include features such as 2FA and wallet protections. However, some users have expressed concerns due to regulatory restrictions in specific areas.
Many users praise Bybit's support for its 24/7 availability and fast responses, although some people have encountered language barriers and unclear communication.
Known for its user-friendly website, full range of products, and strong customer service, Bybit has gained a reputation as a leading crypto exchange for experienced day traders. However, critics argue it could be more forthcoming about its fees and that beginners might struggle with some of its functions.
About
Bybit
Bybit
Users?
Score
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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