In this article, we will discuss the referral program on the ByBit exchange and the associated bonuses that we can claim by entering the appropriate codes.
Currently, we have two referral codes available: FREE4000 and DARMOWEBONUSY.
Both of these codes allow us to claim a bonus after depositing the corresponding amount on the exchange. The bonuses from the referral codes range from 60 PLN to almost 5,000 PLN, so it is definitely worth using them during registration.
Referral codes can be compared to discount codes in various stores or restaurants. In the case of promotional codes, we usually receive a discount on a specific product or free shipping. On the other hand, we provide the referral code during registration on the ByBit exchange, and it allows us to claim a special bonus after depositing our first deposit.
Important note: the referral codes FREE4000 and DARMOWEBONUSY do not have an expiration date or a limited number of uses. So if we want to create an account in a week or a month, we don’t have to worry that the codes will no longer be valid. Additionally, we can share them with friends or family members who are also interested in creating an account on the ByBit exchange because the codes can be used an unlimited number of times.
Using the code is surprisingly simple, but for clarity, we have attached detailed instructions below:
In the table below, we can see exactly what bonus we will receive after using the referral code and depositing the corresponding amount. The amounts in Polish zloty are only indicative (the final value of the deposit and bonus depends on the BTC/PLN and USD/PLN exchange rates).
So, as you can see, even if we deposit only about 945 PLN, we will receive a $15 bonus. Initially, it may seem like a small amount, but remember that we can withdraw the deposit back to our account at any time, so it is definitely a very nice bonus to claim.
It is definitely a good idea to follow ByBit’s social media channels, where they often announce various contests and events where we can secure free bonuses. It is worth noting that objectively speaking, the Bybit Rewards bonus program is certainly one of the most generous compared to other exchanges on the market. Therefore, the bonuses prepared by the exchange are not always limited to new users only. The exchange also often organizes contests for traders, where substantial amounts can be won.
Founded in 2018, ByBit is a cryptocurrency exchange that is currently one of the most popular in the world. This is particularly true for Europe, largely thanks to its excellent marketing, which includes not only the internet but also various international events such as Formula 1 races. ByBit stands out with some of the most interesting contests and referral programs, but it also cannot be denied anything in terms of technical aspects, as ByBit has very advanced trading tools and a wide range of derivative investments. So ByBit definitely keeps up with giants like Binance or Coinbase in terms of technology.
The founders of Bybit come from investment banking and currency environments and were among the first to adopt blockchain technology. Their CEO, Ben Zhou, is active on social media and can be found, among other places, on twitter.com/benbybit. So ByBit has a team of truly experienced experts who are constantly developing the platform.
All new Bybit customers who use a referral code during registration will receive a special cash bonus to their Bybit Rewards Hub account. To do this, simply register using the referral code and complete bonus-related tasks in the rewards center (in this case, it is depositing the corresponding amount).
Additional tasks include following Bybit on social media, getting deposit bonuses, and various bonuses for achieving trading volume.
As a new user, by using a referral code during registration, we ensure the possibility of claiming a bonus after depositing the corresponding amount. On the other hand, if we are already a registered and verified ByBit user, we can also create our own referral link, which we will share with our friends or family. Then, if someone from our friends registers using our link and makes a deposit, they will also receive a bonus.
If you have more questions about the exchange, also check the FAQ section on the official ByBit website.
Most bonuses are paid out in BTC or USDT to our account.
Bybit is a centralized cryptocurrency exchange founded in 2018. It is registered in the country of British Virgin Islands. The Bybit exchange is available at www.bybit.com . In addition, information about the platform can be obtained from official social media accounts (e.g. Twitter Facebook Reddit ). The current Trust Score for this exchange is 10. In the last 24 hours, the trading volume reached 56,750 BTC.
ByBit is a cryptocurrency exchange registered in the British Virgin Islands. Its headquarters are located in Singapore and it is operated by Bybit Fintech Limited. It is one of the youngest cryptocurrency exchanges, founded in 2018. Although its history is not as long as some of its competitors, the exchange is relatively popular. ByBit stands out for being recognized as one of the fastest and most scalable platforms for trading cryptocurrencies (supposedly, its technological solutions allow for up to 100,000 transactions per second).
Designed for trading with high leverage, ByBit was founded by experienced Forex broker Ben Zhou. This cryptocurrency trading platform does not have a long history like some of its competitors, but it has become one of the most popular and preferred exchanges available in the crypto market.
Currently, ByBit offers multilingual online support for its customers. Although Polish language support is not available yet, considering the frequency of new languages being added, it is only a matter of time before the company prepares support for Polish users.
One of the most significant aspects of the platform’s operation is the use of a modern engine that allows for up to 100,000 transactions per second. In other words, ByBit stands out for being able to handle a large number of active users without any problems. In 2022, the number of users exceeded 5 million.
ByBit is currently one of the fastest-growing crypto-platforms available on the market. In order to maintain a good reputation, it must guarantee the highest level of security. To achieve this, the company has implemented a range of measures to improve security.
The first step in securing user funds is the preparation of so-called multi-sig wallets. These are wallets that use two or more signatures to significantly enhance the security of funds by adding an additional layer of security.
Since even the most advanced online wallets are vulnerable to hacking attacks, only a small portion of operational funds are stored in so-called hot wallets.
According to widely known best practices, the majority of funds are stored in cold wallets, which are external devices not directly connected to the Internet. This provides a significantly higher level of security.
The platform utilizes a range of modern technological solutions to secure user account and fund access. In this regard, it is worth noting that the exchange uses two-factor authentication, which requires users to confirm login attempts using another method (e.g., through an SMS code) in addition to password login.
Another way to improve security when using the platform is through advanced Secure Socket Layer (SSL) certificates. This special technology is designed to protect the website from various abuses, including phishing attacks.
Additionally, the authenticity of messages received from the exchange is verified through an official address, which can be verified on the ByBit website.
ByBit does not require KYC from users (for withdrawals up to 2 BTC). The exchange does not have a BitLicense. The company is registered in the British Virgin Islands. It is an exchange that is not regulated by international financial supervisory institutions. However, information available on the Internet suggests that ByBit is seeking appropriate licenses.
From the beginning, ByBit’s offer has focused on classic trading and leverage. Currently, users can take advantage of a wide range of services, including earning interest on held cryptocurrencies (ByBit Earn), crypto loans (Crypto Loans), NFT trading platform, and much more.
ByBit offers various forms of trading, starting with spot market trading. For many users, the ability to trade with leverage on ByBit is a good feature.
In the context of leveraged trading, it is worth noting the ByBit Insurance Fund. This is a special protection available in the form of a reserve pool. Its purpose is to support traders when the asset price falls below the liquidation price or when the initial margin is fully exhausted. As a result, the user is never indebted to the company – when the balance is depleted and reaches zero, the transaction ends.
There are currently 300 assets available on ByBit! This includes both popular cryptocurrencies and a large number of niche altcoins. It’s also worth noting that there are many more available trading pairs.
In addition to providing a trading platform, ByBit supports its users by providing access to various analytical tools. The data that can be obtained through these analytical tools includes monthly price ranges (overview of monthly lows and highs), moving averages, and cryptocurrency volatility over a selected period.
ByBit offers a platform for trading derivatives. This includes contracts based on USDT and USDC. The available options for derivatives and futures contracts on ByBit include: USDT Perpetual, Copy Trading, USDC Perpetual, USDC Options, and Inverse Contracts.
By utilizing the features of ByBit Earn, users can earn profits from the cryptocurrencies held on the platform.
There are currently 300 assets available on ByBit! This includes both popular cryptocurrencies and a large number of niche altcoins. It’s also worth noting that there are many more available trading pairs. Typically, the most active market on ByBit is ETH/USDT. Other popular cryptocurrencies available on ByBit, which are listed with USDT, are Ethereum, Bitcoin, XRP, Litecoin, Solana, Dogecoin, Cardano, and Chainlink.
ByBit’s fees are considered competitive. The taker fee is 0.075%. On the other hand, makers are not charged a fee, but rather receive a rebate. The “fee” for makers is -0.025%. This means that every person who places an order and creates a position (maker) receives an additional 0.025% of the respective asset. In other words, buying and later selling a cryptocurrency will cost only 0.05%.
Compared to the global average, ByBit’s fees are very attractive. Transactions for takers are typically charged at an average cost of 0.063% (here, ByBit is higher than the global average). However, for makers, the fee is below average, as the global average is 0.018%.
Good news for traders operating in the spot market is that the transaction fees mentioned above only apply to those participating in leveraged trading. For spot transactions, the fees are 0.10% for takers and 0.00% (free) for makers.
This is significantly lower than the global industry average (0.215% for takers and 0.162% for makers).
Unfortunately, the costs on ByBit do not end with transaction fees. The platform also charges a fee for withdrawals. However, it is relatively low, amounting to 0.0005 BTC, which is nearly twice as low as the global industry average.
Creating an account on ByBit is exceptionally fast compared to other exchanges. The exchange significantly reduces the amount of required formalities. To create an account, simply visit the exchange’s homepage and go to the registration form. Click the yellow “Sign Up” button in the upper right corner of the bybit.com website. After accessing the registration form, enter your email address and password. Then, a confirmation code will appear in the form of an email message.
Before starting trading on ByBit, it is crucial to properly secure your account. To do this, go to the “Account and Security” tab. There, you can set up additional authentication using email, SMS, or the Google Authenticator 2FA app.
The KYC (Know Your Customer) procedure is commonly used by various financial institutions. KYC is designed to verify the identity of customers. On one hand, the KYC verification process is a common security measure that enhances the safety of many institutions. On the other hand, it cannot be denied that it requires users to provide sensitive data. In the case of withdrawals up to 2 BTC, ByBit does not require verification through this system. According to some traders, this is an advantage because it allows them to start trading while maintaining a sense of privacy.
ByBit does not support deposits in fiat currencies, but this is possible through external payment providers: Banxa, XanPool, MoonPay, Mercury, Paxful, and Simplex. Additionally, deposits can be made by simply depositing funds from a BTC cryptocurrency wallet.
To make a deposit directly from a cryptocurrency wallet, go to the “Assets” tab in the upper right corner. Then, click on “Spot Account”. Next, in the row with the cryptocurrency you want to deposit, click on the “Deposit” button. Then, follow the instructions displayed on the screen. This includes selecting the network type (e.g., ERC20, TRC20, or OMNI) and copying the wallet address (which can be done simply by using the copy-paste method or scanning the displayed QR code).
The cryptocurrencies that can be deposited include BTC, ETH, XRP, EOS, USDT, BIT, DOGE, DOT, LTC, XLM, AAVE, COMP, LINK, MKR, SUSHI, UNI, YFI, and SOL. Only Solana (SOL) has a minimum deposit amount of 0.01 SOL. The other cryptocurrencies do not have a specified minimum deposit amount. ByBit does not charge fees for deposits.
Funds can be withdrawn from ByBit using cryptocurrencies. To withdraw funds from the platform, go to the “Assets” tab, which can be found on the top navigation bar. Then, click on “Withdraw” in the button located next to the cryptocurrency you want to withdraw. Follow the instructions displayed on the screen. This includes entering the withdrawal amount and selecting the network type (e.g., ERC20 or TRC20).
Withdrawals are made directly from the Spot account. If you intend to withdraw funds that are in derivatives, you must first transfer them to the Spot account before initiating the withdrawal.
ByBit supports withdrawals in the following cryptocurrencies: BTC, ETH, BIT, XRP, EOS, USDT, DOT, LTC, XLM, Doge, UNI, SUSHI, YFI, LINK, AAVE, COMP, MKR, DYDX, MANA, AXS, CHZ, ADA, ICP, KSM, BCH, XTZ, KLAY, PERP, ANKR, CRV, ZRX, AGLD, BAT, OMG, TRIBE, USDC, QNT, GRT, SRM, SOL, and FIL.
The withdrawal fee depends on the cryptocurrency being withdrawn. Compared to other exchanges, it is relatively low. However, it’s important to note that without KYC verification, the maximum withdrawal limit is 2 BTC. With KYC Level 1, the limit is raised to 50 BTC, and with KYC Level 2, the maximum withdrawal amount is 100 BTC.
The lack of KYC (for withdrawals up to 2 BTC) is undoubtedly good news for individuals seeking an exchange that offers relative privacy. KYC is often seen as an additional security measure, but its absence can negatively impact the credibility of a company. It’s important to note that since ByBit does not comply with US KYC regulations, it does not have the well-known BitLicense. Additionally, when discussing the key advantages of ByBit, it’s important to highlight the exceptionally competitive fees and the ability to trade with leverage. Furthermore, ByBit offers a comprehensive range of services (such as ByBit Earn, ByBit NFT, Crypto Loans, etc.).
According to popular opinion, the ByBit exchange is considered a safe platform for trading cryptocurrencies. The platform utilizes various technological solutions to protect users’ funds. However, it’s worth noting that ByBit has a slightly more relaxed approach to KYC (Know Your Customer) compared to leading competitors and does not have a BitLicense.
No, ByBit does not offer an interface in Polish, which can be seen as a drawback for Polish users. However, despite the lack of Polish language support, ByBit is a popular platform among users from Poland. Some expect that a Polish language version will be prepared in the near future, but there is no confirmed information about it at the moment.
Yes, ByBit is a viable option for anyone looking for a platform for leveraged trading. Many cryptocurrency trading platforms have introduced various restrictions to reduce the risk of fund loss during leveraged trading, making it challenging to find a platform with high leverage. ByBit offers leveraged trading options and is worth considering for traders interested in this type of trading.
ByBit offers a wide range of services. The platform caters to both traders and individuals looking to earn interest on their cryptocurrencies (through the ByBit Earn service). Additionally, ByBit has a robust NFT trading platform and a Crypto Loans platform.
Some of the services available on the platform include Leveraged Tokens, Launchpad, USDT Perpetual, Copy Trading, USDC Perpetual, USDC Options, Inverse Contracts, ByBit Savings, Liquidity Mining, Dual Asset, Shark Fin, Crypto Loans, and ByBit NFT.
Yes, ByBit provides access to a demo version, allowing users to test the trading experience on the platform without using real funds.
<span style=”font-weight: 400;”>Yes, ByBit offers a mobile app for trading. The app is available for Android and iOS devices. </span>