By Akilorex Learn Community       Last updated: January 30, 2025     3 Min Read

1.What is the History of Bybit? 

Let’s delve into the history of Bybit, a cryptocurrency exchange that has made significant strides since its inception in 2018. Founded by Ben Zhou, a former trader at XM (one of the world’s largest forex and CFD trading brokerage firms), Bybit quickly established itself as a leading player in the crypto landscape. 

The exchange specializes in derivatives, offering high-octane trading fueled by leverage and perpetual contracts-a playground for seasoned investors seeking amplified returns.

Bybit’s journey includes the following key points:

• Founding

Bybit was established in March 2018 by Ben Zhou, who brought expertise from both the forex sector and early blockchain adoption.

• Product Range

Beyond perpetual contracts and margin trading, Bybit offers a comprehensive suite of services including

• • Spot Trading: Direct transactions for a wide array of cryptocurrencies.

  • Derivatives Trading: Access to diverse products, including USDT perpetuals, USDC perps, inverse perps, futures, USDC options, and leveraged tokens.

  • NFT Marketplace: Buying and selling unique non-fungible tokens.

  • Bybit Earn: A suite of financial tools, including Bybit Savings, Dual Assets, and Liquidity Mining, providing opportunities for passive income.

  • Buy Crypto: Directly purchasing cryptocurrencies on the Bybit platform.

  • Options Trading: Exploring options trading as part of Bybit’s offerings.

  • Global Ambitions: While Bybit has its sights firmly set on the Asian market (with offices in Hong Kong and Taiwan), recent forays into Europe demonstrate its global aspirations.

2. What Are the Advantages of Using Bybit?

• High Leverage

Bybit offers high leverage (up to 100x) for traders interested in futures contracts. If you’re looking to amplify your potential gains (and risks), Bybit provides this option.

• Wide Range of Assets

Bybit supports spot trading for over 1,200 digital assets and offers access to more than 200 futures contracts. Whether you’re interested in Bitcoin (BTC), Ethereum (ETH), or other altcoins, you’ll find options here.

• User-Friendly Interface

Bybit’s platform is designed to be intuitive, catering to both beginners and experienced traders. Navigating the exchange should be straightforward.

• Security Measures

Bybit prioritizes security, implementing measures such as cold wallets and regular audits to safeguard user funds.

• Responsive Customer Support

If you encounter any issues, Bybit’s customer support team is available to assist.

Start with Bybit