It’s been a while since I’ve talked about the Bybit Exchange. 바이비트 입금 Recently, as the Financial Services Commission strengthened sanctions on cryptocurrency, the number of overseas exchanges that can be selected in Korea has decreased a lot. I’d like to talk about Vibit, one of the exchanges that can be used without any problems in Korea. I’d like to see what the advantages are by comparing it with binance, not just an introduction.
The order of posting is
1️⃣ Introduction to the Bybit Exchange
2️⃣Compared to Binance
3️⃣About the subscription reference
Proceed to the .
Introduction to the Bybit Exchange
The Bybit Exchange was established in March 2018 as a coin futures exchange headquartered in Singapore.
March 2018 was the time when the cryptocurrency frenzy was extinguished and the long-term recession began. As a result, it was not a good environment for the new exchange to operate.
Nevertheless, we currently provide various cryptocurrency services such as spot transactions, Cefi, NFT, and LunchPad as well as futures transactions.
Since it is a futures trading by birth, it is more specialized in futures trading.
As of the time of posting, CoinMarketCap is currently ranked seventh in terms of derivatives, but in fact, this ranking is meaningless in the current market where Binance and FTX are divided.
Still, at least in futures trading, it is not an exchange that is difficult to trade because of liquidity because it can be traded as comfortably as Binance.
Calling capture by BTCUSDT: Unless your seed is tens of billions, it’s a normal trading volume.
And the advantage of Vibit is the exchange that passed the Travel Rule in Korea. All five major exchanges in Korea can transfer to Vibit. However, of course, KYC (self-certification) certification is required.
If you send more than 1 million won to Upbit on an overseas exchange, you can easily deposit and withdraw Vibit if you authenticate it for the first time.
And recently, I’ve been expanding my business to Cefi. In the beginning, it was very experimental and limited, but now the composition has become more diverse and there are more attractive products.
There are more and more kinds, so I don’t know if I don’t study.
Of course, Cefi is a kind of concept of indirect funds or financial instruments, so you have to study enough as an investor.
If you look at the capture below, you might want to put money in right away after seeing the huge APY (yield), but the yield below is variable and, of course, there is a probability of principal loss. (It’s better because it’s a USDT pair.))
Compare to Binance
It is true that compared to Binance, which has been maintaining the No. 1 exchange for years, it is not enough in terms of the size of Bibit and the type of service.
Most of the products now called Cefi started at Binance, and the launchpad, which hit the jackpot last year, was also started by Binance.
In addition, among the existing spot exchanges, there are the largest number of listed coins, and Binance has the largest liquidity (transaction volume).
In fact, would Binance be more appropriate to compare with exchanges like FTX?
However, it is not that Binance has not passed the Travel Rule solution, and the NFT market, which has recently been in the spotlight, is also steadily expanding to its own market.
It’s withering now, but when the NFT market opened on the exchange, it was a lot more successful.
In addition, there are investors who think of BNB as a stock of Binance because it has an excellent BNB coin ecosystem, and there are many derived value-added products.
Up to here, it seems to be a binance world, but exchanges below Binance have their own characteristics that are steadily growing and used by users.
First of all, there are two areas where there is no difference between exchanges.
First, the main purpose of overseas exchanges is probably more than 80% for coin futures trading. Due to the nature of this futures trading, leverage trading is possible, so trading is smooth only when there is sufficient liquidity.
However, in terms of Bitcoin alone, most exchanges in the top 10 can be traded easily. So if you’re trading bitcoin futures on the top 10 exchanges, liquidity doesn’t really matter. (If your seed is billions of dollars, it changes.)
The second is the UI in the exchange. Unless it is system trading using a program, most traders sell by hand, so each exchange is working hard on the UI. As a result, most of the top exchanges have similar UIs.
One is Binance’s application, and the other is Vibit’s application.Hahaha
Then, what is the ultimate factor that makes discrimination between exchanges?
I think that’s the commission.
As I said earlier, the main reason for using an overseas exchange is to do futures trading. The commission structure of this forward transaction is a little bit different from the spot transaction.
Because unlike spot transactions, futures transactions use leverage, so you have to pay a commission as much as the “transaction fee*leverage” that you usually have to pay.
For example, if the fee was 0.1% for buying in kind, the fee is 0.5% for taking a five-fold long position.
If you hit a high-speed single with a small amount of money, the leverage may easily exceed 20 times 30 times, which often leads to no profit due to fees.
Below is a comparison of commission fees for derivatives exchanges from CoinMarketCap. What I drew in red here is an exchange that Upbit does not support.
Among the top 10 exchanges, if you exclude them, the one that survive
Binance/FTX/OKX/Bybit.
Compared to Binance, Bibits have a cheaper maker fee (designated price) and a higher taker fee (market price).
Of course, this fee is not the final applicable fee. Each exchange has a reference code, but considering that both have the highest discount rate of 20%, the difference in fees between the two exchanges is likely to vary depending on whether they use a lot of designated prices or a lot of market prices.
But when you trade futures, you put in a lot of so-called spider web orders and spread orders, right? All of these are fixed-price orders, and because they also use a lot of fixed-price orders when hitting small amounts, you naturally find exchanges with low maker fees.
This tight hanging of spells is like a spider web, so it’s called a spider web spell or a spread spell.
About the bi-bit subscription reference
Finally, the bi-bit subscription information.
Most futures exchanges give you a discount on fees through the reference code when you sign up. It does not apply after signing up, so it has become an essential element when signing up.
We offer a 15-20% discount for Vibit. If you sign up via the link in this article, you can get up to 20% off.
You can sign up by email and cell phone, but you must have a passport because you need to authenticate with KYC.
Driver’s license is also available, but I don’t recommend it.