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Bybit Trading Fees Explained Simply
Bybit is a popular cryptocurrency exchange that offers a wide range of trading products, including spot trading and derivatives like Futures contracts. This overview explains the core features and fee structure for beginners looking to trade on the platform.
Core Features of Bybit
Bybit is known for its high trading volume, robust security measures, and user-friendly interface available across web and mobile platforms. Key offerings include:
- Spot Trading: Direct buying and selling of cryptocurrencies.
- Derivatives Trading: Including perpetual and dated futures contracts.
- Staking and Earn Products: Opportunities to earn yield on held assets.
- High Liquidity: Especially in major trading pairs.
Understanding Bybit Trading Fees
Trading fees on Bybit are generally structured using a Maker-Taker model, which applies to both Spot and Derivatives markets. Fees are often tiered based on the user's 30-day trading volume and the amount of the exchange's native token (if applicable) held by the user.
- **Maker Fee:** Paid when an order adds liquidity to the Order book (e.g., placing a Limit order that doesn't execute immediately). Makers typically pay lower fees.
- **Taker Fee:** Paid when an order removes liquidity from the Order book (e.g., placing a Market order that executes immediately against existing orders). Takers usually pay higher fees.
The fee structure can change, but a common example for standard users is shown below:
Market Type | Fee Tier | Maker Fee | Taker Fee |
---|---|---|---|
Spot Trading | VIP 0 (Standard) | 0.10% | 0.10% |
Derivatives Trading | VIP 0 (Standard) | 0.02% | 0.05% |
For more detailed information on how volume affects fees, users should consult the official fee schedule. Understanding these fees is crucial, especially for frequent traders, as they can significantly impact profitability. For derivatives, users should review specific information on Fees for Futures Trading.
Supported Assets and Markets
Bybit supports a large and growing list of cryptocurrencies. The primary trading environments are:
- Spot market: For direct asset exchange (e.g., BTC/USDT).
- Derivatives Markets: Offering leverage trading on perpetual swaps and futures contracts.
Liquidity is generally very high for major pairs (like BTC/USDT and ETH/USDT), ensuring efficient trade execution.
Order Types Available
Traders can utilize various order types depending on their strategy:
- Limit order: Specifies the exact price at which the user wishes to buy or sell.
- Market order: Executes immediately at the best available current price.
- Stop-Limit and Stop-Market Orders: Used for risk management to automatically trigger trades when a certain price level is reached.
For strategies involving rapid entry and exit, understanding the difference between scalping and swing trading can be useful: Futures Scalping vs. Swing Trading.
Security Practices
Bybit employs several security measures to protect user funds and data, including:
- Two-Factor Authentication (2FA).
- Cold storage solutions for the vast majority of digital assets.
- Regular security audits.
KYC Requirements and Limits
Bybit offers varying levels of access based on Know Your Customer (KYC) verification.
- **Unverified Accounts (Level 0):** Generally allow limited withdrawal amounts.
- **Verified Accounts (KYC Level 1/2):** Require identity submission and offer significantly higher withdrawal and trading limits.
Users must complete the necessary verification steps to access higher limits.
Funding and Withdrawals
Users can deposit crypto assets directly or use fiat on-ramps (where available). Withdrawal processing times vary based on network congestion and the exchange's internal review process. Fees for withdrawals are typically network-based, though Bybit may charge a small service fee on top of the network cost.
User Experience (UX)
Bybit provides a comprehensive experience across both its web platform and mobile applications (iOS and Android). The interface is generally considered intuitive, though the sheer number of products (spot, derivatives, launchpad) can present a slight learning curve for absolute beginners.
Risks and Responsible Trading
Cryptocurrency trading, especially involving leverage in derivatives markets, carries a high level of risk. Users should only trade with funds they can afford to lose. It is essential to use proper risk management techniques, such as setting stop-loss orders.
First Steps Checklist
If you are ready to begin trading on Bybit, follow these initial steps:
- Complete registration using Register here.
- Enable Two-Factor Authentication (2FA) on your account immediately.
- Complete the required KYC verification level based on your planned trading volume.
- Deposit the cryptocurrency you intend to trade.
- Practice using the Order book with small amounts in the Spot market before attempting derivatives.
See also (on this site)
- Understanding Bybit Spot Trading Basics
- Exploring Bybit Futures Contracts
- Navigating Bybit's Supported Crypto List
- Bybit Account Verification Levels and Limits
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- Futures Trading vs. Spot Trading: Key Differences
- Mwongozo wa Kuanzisha Crypto Futures Trading Bots Kwa Wanaoanza Biashara ya Cryptocurrency
- Crypto Futures Trading in 2024: A Beginner's Guide to Trading Psychology"
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Recommended Futures Trading Platforms
Platform | Futures perks & welcome offers | Register / Offer |
---|---|---|
Binance Futures | Up to 125Γ leverage, USDβ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days | Sign up on Binance |
Bybit Futures | Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks | Start on Bybit |
BingX Futures | Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount | Join BingX |
WEEX Futures | Welcome package up to 30,000 USDT; deposit bonus from 50β500 USD; futures bonus usable for trading and paying fees | Register at WEEX |
MEXC Futures | Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT β get 10 USD) | Join MEXC |
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