Essential Bybit Supported Cryptocurrencies
Essential Bybit Supported Cryptocurrencies
Bybit is a popular cryptocurrency exchange known for its robust derivatives platform, though it has significantly expanded its offerings to include spot trading and a wide range of digital assets. This overview is designed to introduce beginners to the core features and supported assets on the platform.
Core Features of Bybit
Bybit offers a comprehensive suite of trading services. While initially focused on perpetual swaps, the platform now supports:
- Spot Trading: Direct buying and selling of cryptocurrencies.
- Derivatives Trading: Advanced trading products like perpetual contracts and futures.
- Staking and Earn Products: Opportunities to earn passive income on holdings.
- NFT Marketplace: A dedicated area for trading Non-Fungible Tokens.
For those interested in getting started, registration is the first step: Register here. You can find a general overview in the Bybit Exchange Review.
Fee Structure
Bybit employs a maker-taker fee model. Fees vary based on whether your order adds liquidity (maker) or removes liquidity (taker) from the Order book. Generally, Bybit's fees are competitive within the industry. Users with higher trading volumes or who hold the native token (if applicable) may qualify for lower fee tiers. For detailed breakdowns, consult the exchange's official documentation.
Supported Assets and Markets
Bybit supports a large and growing selection of cryptocurrencies. The primary trading markets are divided into Spot market trading pairs and derivatives contracts based on these assets.
The supported assets typically include major coins like Bitcoin (BTC) and Ethereum (ETH), as well as numerous large-cap altcoins across various sectors (DeFi, Layer 1s, etc.).
Example Asset Support
| Asset Category | Example Assets |
|---|---|
| Major Cryptocurrencies | BTC, ETH, XRP |
| Popular Altcoins | SOL, ADA, DOT |
| Stablecoins | USDT, USDC |
Spot vs. Futures Trading Basics
- Spot market: In spot trading, you buy or sell the actual underlying asset. If you buy BTC/USDT on the spot market, you own the BTC.
- Futures contract: Derivatives trading involves contracts to buy or sell an asset at a predetermined price on a future date, or perpetual contracts that track the underlying price. This often involves leverage, magnifying both potential profits and losses. Understanding the mechanics, including concepts like funding rates, is crucial; see Essential Tools for Crypto Futures Trading: A Beginner's Guide to Contango, Funding Rates, and Initial Margin.
Order Types
Bybit supports standard order types necessary for effective trading:
- Limit order: An order to buy or sell an asset at a specified price or better. This is often used by makers to control entry/exit points.
- Market order: An order to buy or sell immediately at the best available current price. This is often used by takers who prioritize speed over price certainty.
- Stop orders (e.g., Stop-Limit, Stop-Market): Orders placed to execute only after a specific price level is reached, commonly used for risk management.
Liquidity and Market Depth
Bybit is known for high liquidity, especially in its derivatives markets. High liquidity generally means tighter spreads (the difference between the highest bid and lowest ask price) and easier execution of large orders without significantly moving the price, which is reflected in the depth of the Order book.
Security Practices
The exchange employs several security measures to protect user funds and accounts:
- Two-Factor Authentication (2FA).
- Cold storage for the vast majority of digital assets.
- Anti-phishing codes.
Users are strongly encouraged to enable 2FA immediately after registration.
KYC and Limits
Know Your Customer (KYC) requirements vary based on the services a user intends to access. Basic verification tiers often allow for moderate withdrawal limits, while full verification unlocks higher daily withdrawal caps and access to all platform features. Users should consult Bybit's official guidelines for the most current tier requirements.
Funding and Withdrawals
Deposits (funding) are typically processed quickly once confirmed on the blockchain. Withdrawals are processed according to set schedules, usually requiring manual review for security purposes. Withdrawal fees apply and vary depending on the specific cryptocurrency network used.
User Experience (UX)
Bybit offers a consistent user experience across its web platform and its dedicated mobile application (available for iOS and Android). The interface is generally considered intuitive, though the derivatives trading section can appear complex for absolute beginners due to the advanced charting and margin tools available.
Risks and Responsible Trading
Trading cryptocurrencies, especially with leverage in the futures market, carries substantial risk. It is possible to lose all invested capital. Users should only trade with funds they can afford to lose. Practice trading with test accounts or small amounts before committing significant capital. For more context on trading risks, review resources like the Bybit Futures FAQ.
First Steps Checklist
1. Visit Register here to create an account. 2. Enable Two-Factor Authentication (2FA) immediately. 3. Complete basic KYC verification if required for your intended trading volume. 4. Deposit a small amount of cryptocurrency or fiat currency. 5. Practice placing a Limit order on the Spot market before attempting leveraged trades.
See also (on this site)
- Bybit Spot Trading Explained Simply
- Understanding Bybit Futures Contracts
- Navigating Bybit Account Security Features
- Bybit Fee Structure for New Users
Recommended articles
- Why Practice Is Essential in Futures Trading
- Learn More About Bybit and Binance
- Institutional Investments in Cryptocurrencies
- Bybit review
- Bybit’s fee structure
Recommended Futures Trading Platforms
| Platform | Futures perks & welcome offers | Register / Offer |
|---|---|---|
| Binance Futures | Up to 125× leverage, USDⓈ-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 50–500 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 → get 10 USD) | Join MEXC |
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