Bybit – History of the Platform and How to Earn Money Using It

Bybit has rapidly grown into one of the most popular crypto derivatives trading platforms worldwide. Founded in 2018, it gained millions of users thanks to its fast technology, reliability, and profitable affiliate programs. In this article, Stirinoi.com presents Bybit’s history, its rise in the crypto space, its key features, and practical ways to earn money even if you’re not an experienced trader.

The History of Bybit

Bybit was founded by Ben Zhou, a former Forex industry executive, who saw an opportunity to create a robust crypto derivatives exchange. Headquartered in Singapore, Bybit started with a focus on perpetual futures contracts for Bitcoin and expanded to other cryptocurrencies. It quickly gained trust due to its:

• Ultra-fast execution speeds of up to 100,000 transactions per second, reducing slippage risks

• Stability during volatile markets, when other exchanges faced downtime

• Intuitive multilingual interface supporting traders globally

By 2024, Bybit ranked consistently among the top five global derivatives exchanges by daily trading volume, according to CoinMarketCap.

Ways to Earn Money on Bybit

1. Leverage TradingBybit offers leverage up to x100 on BTCUSD and x50 on other crypto pairs. This means you can trade larger positions with smaller capital. However, high leverage involves significant risk, and traders should use strict risk management strategies to avoid liquidation.

2. Copy TradingThe platform’s Copy Trading feature allows beginners to automatically mirror the trades of professional traders. Each trader’s ROI and risk level are visible, helping users choose reliable traders to follow.

3. Affiliate ProgramBybit has one of the most competitive affiliate programs in the crypto industry, paying up to 30% commission from referred users’ trading fees. Many influencers and bloggers generate monthly income solely from Bybit’s affiliate payouts.

4. Staking and LaunchpadUsers can stake various tokens on Bybit for competitive annual yields. Additionally, Bybit’s Launchpad gives early access to new crypto projects before public listing, often resulting in quick profits when tokens go live on exchanges.

Interesting Facts About Bybit

• Over 15 million active users by mid-2024

• Official sponsorship deals with Red Bull Racing and major esports teams

• Average daily futures trading volume exceeds $10 billion

• No major security breaches reported so far due to cold wallet and multi-signature security systems

Advantages and Disadvantages of Bybit

Advantages

• High-speed order execution

• Intuitive desktop and mobile applications

• Frequent deposit bonuses and promotions

• Wide range of services including staking, spot trading, futures, and Launchpad

Disadvantages

• Requires KYC verification for large withdrawals

• High leverage increases the risk of full liquidation

• Not all countries have direct fiat onramp options via bank cards or SEPA

Conclusion

Bybit has established itself as an all-in-one crypto trading platform suitable for advanced traders who use high leverage and for users who prefer passive income through staking, Launchpad, or affiliate programs. However, trading with leverage demands strict discipline and risk management knowledge. Beginners are advised to start with smaller amounts and educate themselves on market dynamics before taking significant risks.

Success on Bybit, like any crypto platform, depends on continuous learning, updated market analysis, and realistic expectations about the volatility of crypto assets. As long as you use strategies wisely and avoid emotional trading decisions, Bybit can be a profitable tool in your crypto journey.

Partial sources: CoinMarketCap Derivatives Ranking, Bybit.com official site, Coindesk interview with Ben Zhou