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Crypto platform Bybit promotes transparent trading by installing top-notch infrastructure

| 02-Th4-2022
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Many terminology and technology were unheard of before the publication of Bitcoin, thus, cryptocurrency is far from a simple concept (BTC). For new investors, a lack of information is a key obstacle to the adoption and use of digital currencies. As a result of its capacity to bridge the unknown with a familiar user experience, crypto trading platforms hold a critical role in the market.

The problem is that, like its consumers, the cryptocurrency business has been constantly growing, changing, and evolving, offering new use cases and increasingly significant potential to match classic finance ideas like derivatives and spot trading. As a result, two distinct marketplaces have emerged. The first is the first-time user, who makes up the larger population seeking an easy introduction into a new market, and the second is the niche, knowledgeable user seeking the same experience in regular fiat trades and frequent additions.

As the globe moves into the next phase of widespread crypto adoption, it’s critical to provide experiences that can help those who are just learning about the technology’s possibilities, as well as evolve alongside them with features expected by the more experienced user.

Specifically, Bybit seeks to address this need by acting as a cryptocurrency exchange with spot and derivatives products, as well as asset-specific features including peer-to-peer (P2P) trading and a nonfungible token (NFT) market. The Bybit team has announced a number of crypto-inspired activities to demonstrate their industry-forward focus as a proud primary team partner with Oracle Red Bull Racing.

The exchange has also reportedly implemented a variety of financial incentives to stimulate new deposits, providing first-time customers with an introduction to the market. In exchange for opening an account, completing a Know Your Customer (KYC) verification, and depositing their first cash, new Bybit customers can earn $30 equivalent in BTC and win an extra $600 as part of an ongoing program.

Bybit is presenting itself as a one-stop crypto destination to ensure customers have access to top-tier infrastructure, delivering a variety of features that appeal to both first-time and long-time investors.

One of these services is spot trading, which allows users to purchase and sell cryptocurrency at what the company believes is the “best available pricing” in the market. The exchange also enables derivatives trading, which is a gateway to hedging, speculating, and generating leverage across a variety of perpetual and futures contract types.

Bybit has been reported to develop a provision for earning in response to the industry’s release of high percentage earnings. Within this product category, consumers will find options such as the Dual Asset Investment, which allows users to deposit a preferred asset and lock it in at a favorable yield through a liquidity provider. Then, APYs are calculated based on the time of deposit. Traditional staking features are also accessible, allowing users to benefit from cryptocurrency, in the same way, they would from a savings account. Users can stake tokens for guaranteed payouts and a constant annual percentage yield (APY), with the ability to unstake at any time.

The platform also includes a peer-to-peer (P2P) trading facility, which is based on the decentralized nature of cryptocurrencies. This network allows two people to communicate directly and conduct transactions at a set fee. For the time being, this feature is accessible for nine distinct trading pairs.

Bybit has shown early success with its new user incentives and expanding feature list, which can help the mainstream market learn more about decentralized finance.

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