Bybit is a crypto exchange that lets you buy, sell, and trade digital coins. It started in 2018 and is known for fast order matching and a clean mobile app. If you’re new to crypto, the biggest question is usually: is it safe? The answer is yes, as long as you follow basic security steps and understand the fees.
First, go to Bybit.com and click the "Sign Up" button. You can register with an email address or a phone number. After you confirm the code they send you, set a strong password. Next, turn on two‑factor authentication (2FA) – you can use Google Authenticator or Authy. This step adds an extra layer of protection.
Once your account is ready, you’ll need to add funds. Bybit supports deposits in Bitcoin (BTC), Ethereum (ETH), and a few other major coins. Pick the coin you own, copy the deposit address, and send the funds from your wallet. The transaction usually appears in a few minutes, but sometimes it can take longer if the network is busy.
When the balance shows up, you can start trading. Bybit offers both spot trading (buying the actual coin) and derivatives like perpetual contracts. Spot trading is simpler – you own the coin outright. Perpetual contracts let you trade with leverage, which means you can control a larger position with a smaller amount of money. Leverage can boost profits, but it also increases risk, so only use it if you’re comfortable with the possibility of losing more than you put in.
Before you place a trade, decide how much you’re willing to risk. A common rule is to risk no more than 1‑2% of your total account on any single trade. This helps you survive a few losing streaks without wiping out.
Keep an eye on fees. Bybit charges a maker fee (when you add liquidity) and a taker fee (when you remove liquidity). The rates are low compared to many other exchanges, but they still add up if you trade a lot. You can view the exact numbers on the fee schedule page inside your account.
Take advantage of the built-in stop‑loss and take‑profit orders. These let you set price levels where the platform will automatically close your position. It’s a cheap way to protect yourself from sudden market moves.
Security doesn’t stop at 2FA. Store the bulk of your crypto in a hardware wallet or a cold storage solution instead of leaving it on the exchange. Bybit is great for active trading, but for long‑term holding, an offline wallet is safer.
If you ever run into a problem, Bybit’s support chat is available 24/7. They usually respond quickly, but make sure you have your account details and transaction IDs handy to speed up the process.
To sum up, Bybit offers a fast, user‑friendly way to trade crypto. Register, secure your account, fund it, and start with small trades. Follow the risk rules, use stop‑losses, and keep most of your holdings offline. With those basics in place, you’ll be able to explore the market without feeling overwhelmed.
A massive heist has hit the cryptocurrency world as Bybit, a major exchange, reports a record-breaking $1.4 billion to $1.5 billion theft, allegedly orchestrated by North Korean hackers known as the Lazarus Group. This theft has surpassed all previous crypto heists. Bybit quickly restored its reserves, ensuring the safety of customer assets despite significant vulnerabilities exposed.
Read More
