In 2022-2023, many crypto exchanges restricted functionality for Russian clients. Bybit is among those that did not support the sanctions. It is also the only tier-1 platform that retained full access to P2P for users from the Russian Federation. In the article we will tell you how to earn on Bybit for a beginner. The exchange offers many ways, but all of them are available only after going through the KYC procedure.
General overview of ways to profit on Bybit
Bybit exchange first of all specialized in derivative trading. Gradually, the team expanded the lineup of products available. In June 2024, Bybit is among the leading platforms in a number of indicators. The exchange ranks second in spot trading volumes ($3.52 billion per day) and ninth in the derivatives market ($13.83 billion). The following instruments are available on the platform to generate profits:
- Spot trading. 400 coins and 495 pairs of instruments are available for trading.
- Leveraged transactions. It is possible to increase future profits with the help of borrowed funds. The available leverage is up to x10.
- Crypto derivatives and options trading. There are 430 futures pairs available on Bybit. The amount of open positions in the last 24 hours is $7.43 billion.
- Copytrading. You can copy trades of successful traders.
- Arbitrage trades. Within the exchange you can earn on the difference of funding rates and spreads.
- P2P trading. Many payment methods in rubles are supported. Available cryptocurrencies are USDT, BTC, ETH, USDC.
- Long-term investment. You can buy 400 cryptocurrencies on the site. For long-term storage of assets, it is better to withdraw to a non-custodial wallet.
- Accumulation and staking. You can open deposits with flexible and fixed terms. The second rates are higher.
- Mining of liquidity. Investors transfer it to pools and take as a reward the commissions from operations with the supplied assets.
- Bicurrency investments. Baybit offers 2 plans – “Buy cheap” and “Sell expensive”. Maximum income can be obtained in markets with low volatility.
- NFT Trading. You can create digital items and sell them on the built-in marketplace.
- Launchpad. New cryptocurrency projects are launched on the site. Early investors can get the biggest profits.
- Loyalty program. Regular users can invite referrals and receive up to 30% of their commissions. Companies are offered to earn up to 45% on Baybit in the affiliate program.
Platform interface
For 5 years of work Bybit has become one of the largest cryptocurrency exchanges with many functions. The developers have provided intuitive navigation, so it will not be difficult to find the necessary tool on the platform.
For convenience, it is recommended to immediately install the Russian-language version of the site. The button to switch localization is located at the top right.
Work on Bybit starts from the main page of the site. The main options are collected in the top menu. There you can also find a link and QR code to download the mobile application. Software versions for Android and iOS are available.
5020 $
bonus for new users!
ByBit ΠΏΡΠ΅Π΄ΠΎΡΡΠ°Π²Π»ΡΠ΅Ρ ΡΠ΄ΠΎΠ±Π½ΡΠ΅ ΠΈ Π±Π΅Π·ΠΎΠΏΠ°ΡΠ½ΡΠ΅ ΡΡΠ»ΠΎΠ²ΠΈΡ Π΄Π»Ρ ΡΠΎΡΠ³ΠΎΠ²Π»ΠΈ ΠΊΡΠΈΠΏΡΠΎΠ²Π°Π»ΡΡΠ°ΠΌΠΈ, ΠΏΡΠ΅Π΄Π»Π°Π³Π°Π΅Ρ Π½ΠΈΠ·ΠΊΠΈΠ΅ ΠΊΠΎΠΌΠΈΡΡΠΈΠΈ, Π²ΡΡΠΎΠΊΠΈΠΉ ΡΡΠΎΠ²Π΅Π½Ρ Π»ΠΈΠΊΠ²ΠΈΠ΄Π½ΠΎΡΡΠΈ ΠΈ ΡΠΎΠ²ΡΠ΅ΠΌΠ΅Π½Π½ΡΠ΅ ΠΈΠ½ΡΡΡΡΠΌΠ΅Π½ΡΡ Π΄Π»Ρ Π°Π½Π°Π»ΠΈΠ·Π° ΡΡΠ½ΠΊΠ°. ΠΠΎΠ΄Π΄Π΅ΡΠΆΠΈΠ²Π°Π΅Ρ ΡΠΏΠΎΡΠΎΠ²ΡΡ ΡΠΎΡΠ³ΠΎΠ²Π»Ρ ΠΈ ΡΠΎΡΠ³ΠΎΠ²Π»Ρ Ρ ΠΏΠ»Π΅ΡΠΎΠΌ, Π° ΡΠ°ΠΊΠΆΠ΅ ΠΏΠΎΠΌΠΎΠ³Π°Π΅Ρ Π½ΠΎΠ²ΠΈΡΠΊΠ°ΠΌ ΠΈ ΠΏΡΠΎΡΠ΅ΡΡΠΈΠΎΠ½Π°Π»ΡΠ½ΡΠΌ ΡΡΠ΅ΠΉΠ΄Π΅ΡΠ°ΠΌ Ρ ΠΏΠΎΠΌΠΎΡΡΡ ΠΈΠ½ΡΡΠΈΡΠΈΠ²Π½ΠΎΠ³ΠΎ ΠΈΠ½ΡΠ΅ΡΡΠ΅ΠΉΡΠ° ΠΈ ΠΎΠ±ΡΡΠ°ΡΡΠΈΡ ΠΌΠ°ΡΠ΅ΡΠΈΠ°Π»ΠΎΠ².
Earn a 100 $ bonus
for new users!
ΠΡΡΠΏΠ½Π΅ΠΉΡΠ°Ρ ΠΊΡΠΈΠΏΡΠΎΠ±ΠΈΡΠΆΠ°, Π³Π΄Π΅ ΠΌΠΎΠΆΠ½ΠΎ Π±ΡΡΡΡΠΎ ΠΈ Π±Π΅Π·ΠΎΠΏΠ°ΡΠ½ΠΎ Π½Π°ΡΠ°ΡΡ ΠΏΡΡΡ Π² ΠΌΠΈΡΠ΅ ΠΊΡΠΈΠΏΡΠΎΠ²Π°Π»ΡΡ. ΠΠ»Π°ΡΡΠΎΡΠΌΠ° ΠΏΡΠ΅Π΄Π»Π°Π³Π°Π΅Ρ ΡΠΎΡΠ½ΠΈ ΠΏΠΎΠΏΡΠ»ΡΡΠ½ΡΡ Π°ΠΊΡΠΈΠ²ΠΎΠ², Π½ΠΈΠ·ΠΊΠΈΠ΅ ΠΊΠΎΠΌΠΈΡΡΠΈΠΈ ΠΈ ΠΏΡΠΎΠ΄Π²ΠΈΠ½ΡΡΡΠ΅ ΠΈΠ½ΡΡΡΡΠΌΠ΅Π½ΡΡ Π΄Π»Ρ ΡΠΎΡΠ³ΠΎΠ²Π»ΠΈ ΠΈ ΠΈΠ½Π²Π΅ΡΡΠΈΡΠΈΠΉ. ΠΡΠΎΡΡΠ°Ρ ΡΠ΅Π³ΠΈΡΡΡΠ°ΡΠΈΡ, Π²ΡΡΠΎΠΊΠ°Ρ ΡΠΊΠΎΡΠΎΡΡΡ ΠΎΠΏΠ΅ΡΠ°ΡΠΈΠΉ ΠΈ Π½Π°Π΄Π΅ΠΆΠ½Π°Ρ Π·Π°ΡΠΈΡΠ° ΡΡΠ΅Π΄ΡΡΠ² Π΄Π΅Π»Π°ΡΡ Binance ΠΎΡΠ»ΠΈΡΠ½ΡΠΌ Π²ΡΠ±ΠΎΡΠΎΠΌ Π΄Π»Ρ ΡΡΠ΅ΠΉΠ΄Π΅ΡΠΎΠ² Π»ΡΠ±ΠΎΠ³ΠΎ ΡΡΠΎΠ²Π½Ρ!
Below the team publishes announcements of promotions and bonus programs that allow you to earn on Baybit. All offers are available only to registered users of the exchange. The following blocks are provided:
- Statistics on derivatives and popular coins.
- Rating of active players.
- List of new listings.
- Banner with an overview of other popular products.
- Communication methods and support service contacts.
The lower menu contains information about the company, duplicated lists of services and products. Here you can also find links to social networks and see a ticker with partners of the platform.
How to earn on Bybit with trading
Trading is the primary direction on the platform. The exchange was created to trade cryptocurrencies and has succeeded in doing so. In June 2024, it is the ninth platform in terms of futures transaction volume. In parallel, the team developed other types of trading, in which they also succeeded. Bybit is the second largest exchange for spot trading. In addition, clients of the platform are offered:
- Margin trading.
- Options trading.
- Leveraged token trading with no liquidation risk.
Spot
This type of trading assumes that the user trades his own assets. They can be bought at the market price and sold at any time. Most cryptocurrencies are traded with USDT. Other paired assets are BTC, ETH, and USDC. On the latter, the exchange does not charge trading fees.
Bybit’s spot terminal is as simple and functional as possible. For market analysis, traders have access to a customizable chart of 2 types: standard and TradingView. You can apply a variety of indicators, display methods and periods to it.
Trading is conducted with the help of orders. To make money on Bybit, you can use:
- Market – with immediate execution.
- Limit – with the ability to independently set the desired price.
- Additional – Take Profit to determine the level of exit from the transaction and Stop Loss to limit possible losses.
Marginal
To multiply the size of probable profit, a trader can borrow from the stock exchange. Bybit offers a relatively small leverage of x10. For comparison, on futures it is higher – up to x100. Any cryptocurrency from the listing can be used as collateral.
The table shows the terms of borrowing popular coins. The information is valid for beginner traders with asset balance up to $100 thousand (VIP0 level). As the status increases, users get discounts on commissions and higher transaction limits.
| Coin | Rate per day (%) | Percentage per year (%) | Minimum loan amount | Maximum limit |
|---|---|---|---|---|
Transactions with leverage can be performed in long and short positions. To support a position, a trader has the right to use the entire balance, which reduces the risk of liquidation (cross-margin). However, in this case there is a danger of losing the deposit if the client loses control over the transaction.
Futures
This direction remains the most demanded on Baybit. To trade futures, users do not need to own cryptocurrencies. Instead, one can buy a contract based on the market rate of the asset. This is essentially an agreement between a customer and an exchange. The first party agrees to buy or sell the cryptocurrency in the future at a previously determined price. If the forecast comes true, the trader will earn money. Otherwise, a loss awaits him.
The offer becomes even more interesting if you use leverage in the transaction. On Baybit, you can choose up to x100.
The maximum leverage allows entering a position, for example, for $1 thousand with a capital of $10.
However, the risks are also high. Because of this, it is better to start with a small leverage of x3-5. The site offers the following types of contracts:
- Indefinite with USDT as collateral. Coins that are traded with Tether are available. The position can be held as long as you like and can be closed at any time.
- Indefinite and futures with settlement in USDC. The latter are opened for a specific period.
- Inverse with a target coin as collateral. Indefinite contracts are available for 8 popular cryptocurrencies and with limited validity – for 4 pairs.
In 2024, Bybit utilizes the Unified Trading Account for futures and margin transactions. It is a comprehensive terminal that makes it easy to work with financial strategies. All supported collateral assets are converted to USD in the form of margin. Guide to futures transactions on Baybit:
- Authorize on the platform. If the account is not verified, you need to go through the KYC procedure.
- At the top of the screen, click on the “Derivatives” key.
- Define the type of contract – for example, open-ended USDT.
- A pop-up window with available offers will open. For convenience, contracts are divided into categories: “All”, “Popular”, “New”. Click on the selected one – for example, on BTCUSDT.
- A trading terminal with information on the contract will open. You will need to fill the order: select the type of margin, leverage, type of order, specify the execution price and the amount of the asset. If necessary, take profit or stop loss should be set.
- Press the “Buy/Long” or “Sell/Short” keys.
The open position will appear on the chart and below – in the history of transactions. If Take Profit is set, the order will be executed when the specified price is reached. An additional order can be opened later or profit can be fixed manually.
Options
This is another type of derivative contract on Bybit. Unlike futures, options do not obligate, but give the buyers the right to buy or sell the selected asset at a specified time at a previously set price.
The exchange trades contracts on BTC, ETH, SOL with settlement and margin in USDC.
The option can only be exercised on the expiration date. However, the trader has the right to buy or sell it at any time before expiration.
Leveraged
To facilitate derivatives trading, the exchange has created a complex contract-based instrument. You can work with it on the spot market. ETPs are tokens with integrated leverage without liquidation risk. Each asset is a set of positions on open-ended contracts. The price is linked to the exchange rate of the underlying token.
For example, the ticker GMT2S represents a short position in the GMTUSDT perpetual contract with x2 leverage. The user does not need to choose the margin and keep an eye on the collateral. It is enough just to trade the token on the spot. In this case, earnings or losses will be multiplied by 2.
How to earn on Bybit with the help of copytrading and bots
Users of the crypto exchange can repeat the trades of successful clients. The option is beneficial to both parties:
- The first earn without having to analyze the market.
- The latter get a part of the profit from successful transactions.
Traders should be selected taking into account the history of transactions, risk level and overall profitability. Operations on USDT open-ended contracts and trading bots are available for copying.
The second method allows you to copy the strategies of master traders. It works like this:
- Experienced users (master traders) create trading bots. These programs open and close trades according to their strategies.
- Other clients of the platform can subscribe to the masters’ offers. When doing so, you need to choose to copy trading bots.
- When the master’s robot makes a trade, a similar operation is automatically performed on the subscriber’s account. The position volume is recalculated proportionally to the deposit size.
The option allows copying all bots created on Bybit. When subscribing, you can choose programs already developed by the master trader or those that will appear later.
API usage
The platform added an automated copytrading feature in 2023. Users were able to create and copy trading strategies without manually placing and closing orders. Other benefits of automation include:
- Improved integration with the futures terminal.
- Access to all derivatives trading tools to better customize strategies.
- Convenient management. You can coordinate trades across all accounts.
- Easy transaction tracking, profit and loss control.
New masters can use the possibilities of automated copytrading at once. The rest need to update the information on the option page. After that, you can create APIs for free to connect to various trading platforms to implement strategies. Instructions on how to develop a key:
- Go to the “Manage API” page.
- Click on the “Create a new key” key.
- Choose ready-made APIs for use on Bybit-enabled platforms (3Commas, Insilico Terminal) or generate your own.
- Save the API key in a safe place.
Long-term investing on the Bybit platform
Traders prefer to make money on short-term trades. Trading strategies are based on the volatility of the crypto market and allow you to profit from price fluctuations over a small period. Conservative investors use a different principle: buying and long-term storage of coins with the expectation of exponential growth.
Bybit is one of the largest cryptocurrency exchanges. In January 2024, 400 digital coins are traded on the platform.
Assets can be bought with minimal commissions – 0.1%. However, it is recommended to store cryptocurrency on non-custodial wallets. Such platforms provide users with full control over private keys.
Modes on the Bybit Earn platform
The exchange emphasizes cryptocurrency trading, but also offers tools for passive earnings. Investment products are collected on the Earn page. Globally, they can be grouped into 3 large categories:
- Accumulation.
- Participation in liquidity pools.
- Bi-currency investments.
Accumulation and Staking
This section represents an analog of bank deposits. When opening cryptocurrency deposits, investors choose terms – flexible and fixed.
In the first case, assets can be kept in the account for as long as you want and withdrawn on demand. In the second, the deposit term is fixed.
You won’t be able to unlock the coins earlier, but the interest will come to the account daily.
On deposits with a fixed term, the rates are higher. Instructions on how to earn on Bybit in staking:
- Register on the site and go through the KYC procedure.
- In the top menu, select the “Banking” section, then select Earn.
- Open the Bybit Savings page.
- In the list of products, select flexible or fixed term offers.
- Opposite the coin, click on the “Open Staking” button.
- Fill out the form – specify the number of coins to lock. The program will calculate the daily yield taking into account the current rate. You can enable the “Autoinvestment” option to automatically transfer free coins from the funding account to the staking.
- Agree to the terms and conditions of the service – check the box.
- Click on the “Open Shakeout” button.
Profits are credited to the funding account daily. The time of distribution is 00:30 (UTC).
Liquidity Mining
This tool operates on the concept of an upgraded automated market maker (AMM). Investors can place free funds in pools at an interest rate. These assets are used in particular to support margin decisions.
The reward to the liquidity providers is generated from swap fees.
In addition, investors can increase their stake in the chosen pool through leverage. It is possible to add liquidity or close the offering at any time.
Income in pools is accrued regularly (every day), so it is not difficult to withdraw money if necessary. Instructions on how to add liquidity to the pool to earn on Bybit:
- In the “Banking” section, select Earn.
- Go to the “Mining liquidity” button.
- Select a pool.
- Click on the “Add” key.
- In the form that opens, study the terms of the transaction. It is allowed to use the “Yield Calculator” function to calculate the potential earnings.
- If the conditions are acceptable, fill out the form. You will need to specify the number of the first and second assets. You can add one, the program will automatically convert half to the second. It is also allowed to set leverage.
- Click on the “Add liquidity” button.
It is necessary to take into account the risks of such investments. There is a probability of non-permanent losses if the price of deposited tokens changes. When using leverage, the investor may also face the risk of liquidation and losing the main deposit.
Bi-currency investments
In structured products, it is possible to get the highest profit – up to 500%. The investor’s task is to analyze the market and make a short-term forecast for the selected asset. If it is justified, the profit will be accrued in the cryptocurrency used. Otherwise, the income will be calculated in stablecoins at a predetermined rate – higher than the initial deposit.
Bi-currency investment is an option design in which the user is always on the plus side. It works like this:
- The top of the site will require clicking on Banking, then clicking on Earn.
- The investor selects the desired rate of the cryptoasset and the expected date of execution of the contract. The available scenarios are “Buy Cheap” and “Sell Expensive”.
- Go to the “Bybit Structured Products” button.
- Click on the “Bicurrency Investments” button.
- Select a plan – “Buy Cheap” (invest USDT) or “Sell Expensive” (invest the coin).
- View the list of products. Opposite the target option, click on the “Select” button. The most profitable offers are available only for VIP1 level or higher.
- Fill and place an order.
Arbitrage on Bybit
Traders can profit from the difference in coin rates in the markets. Available arbitrage strategies to make money on Bybit:
- On funding rates. The user places spot and futures bids with a similar amount, but in different directions. The goal is to offset a possible loss by presumably earning on the funding commission. If the bid is positive, it will be necessary to buy the coin on the spot and take a short position on perpetual contracts. This will allow you to earn on the financing commission. If the rate is negative, you can open a short position on spot and a long order on perpetual contracts.
- On the spread. A trader simultaneously buys and gives away an asset in two markets to make money on Bybit on the price difference. For example, one can buy Bitcoin on the spot at a lower cost and sell a more expensive BTCUSDC futures contract.
P2P
In 2024, Bybit is the only one of the tier-1 exchanges to retain all functionality on the peer-to-peer platform for Russians. There are also options for arbitrage transactions on P2P:
- With digital assets. The strategy allows you to generate profit due to the difference in coin rates on crypto exchanges. For example, you can buy bitcoin for $42.5 thousand on Bybit and immediately sell it for $42.6 thousand on OKX.
- With fiat currencies. This method is a bit more complicated. It is based on the difference in the price of the coin in different currencies. For example, bitcoin is traded on Bybit P2P for 64.64 thousand AUD ($42.5 thousand), and on OKX P2P for 64.95 thousand AUD ($42.7 thousand). You can buy the coin on the first platform for AUD and sell it on the second for USD.
Working with NFT
The platform has a built-in marketplace for trading digital objects. In June 2024, you can work with NFT in Ethereum, Solana, Binance Smart Chain, Polygon, and Tezos chains. Users get early access to collections of authors from around the world. Payments can only be made in the coin specified by the NFT creator.
Buying and selling
In 2024, NFTs are traded at fixed prices and at auction. The available purchase method is specified by the creator in the product card. For payment you need to have USDT, ETH or XTZ on your spot account – depends on the selected lot.
Buyers do not pay a service fee. When trading digital items, the platform deducts a 1% commission from the seller.
Creation
It is not possible to release your NFT on Bybit in the summer of 2024. Digital items can be created on other platforms and listed on the exchange marketplace. To deposit an NFT you need to:
- Click on the profile icon in the top right corner.
- In the drop-down tab, click on the “Deposit” button.
- Select a network and wallet to connect to the marketplace – for example, MetaMask.
- Log in to the vault and select an account to connect to Bybit. Confirm the action.
- Select the NFT to be deposited. The collection must be supported on Bybit.
- In the MetaMask pop-up window, set the gas commission and click on the “Confirm” button.
- In a new window, check the transaction details. Confirm Deposit.
NFT will require 14 blockchain confirmations to be credited. The status of the transaction can be tracked in the deposit history.
Launchpad
Bybit clients can invest in new cryptocurrency projects at an early stage. If successful, such actions have the potential to generate significant returns. For example, early investors of KASTA received 2213% to their investments in the first week after the start of trading. The REAL token brought initial holders 1962% over the same period.
To participate in the launches, you need to:
- Track announcements on Launchpad’s Launchpad page under Spot X (the “Trade” tab).
- Hold the amount of MNT or USDT required for participation until the end of the snapshot period.
- Wait for the token distribution.
- After the results are announced, check the subscription or distribution status.
Loyalty Programs
You can earn money on Baybit by inviting new users. The loyalty system provides different types of rewards for activity in the referral and affiliate programs. The first is intended for private traders, the second – for companies and media personalities.
Affiliate program
Baybit offers to monetize popularity in cooperation with the platform. The affiliate program provides generous rewards for attracting new users:
- Up to 50% of commissions from referral activity.
- Another 10% of the fees if a newcomer becomes an affiliate.
To participate in the program, you will need to submit an application to the support department. It will be considered within 1 day.
Referral program
The offer for regular users includes many rewards for different types of activity of referrals. In total, you can count on 1750 USDT and 30% of the commissions of invited users. See the table for details.
| Invitation type | Reward |
|---|---|
To participate in the referral program, you will need to copy your personal link in your profile and share it with your friends. The statistics of the activity of invited visitors and accrual of rewards can be tracked on the corresponding page.
Lifehacks for earning money on Bybit using bonuses
To motivate newcomers, the crypto exchange uses a system of rewards. Bonuses can be received for performing simple tasks and use them to increase profitability. For example, for inviting the first referral, they award $25 each and give a mystery box worth $1 thousand. Here are a few tips and schemes for earning money on Bybit using bonuses:
- Rewards can be used as margin and to cover trading losses.
- Bonuses have a limited validity period. For example, welcome rewards need to be used within 2 weeks or 3 months – depending on the type.
- Bonuses cannot be withdrawn, but you can cash out the profit made with their help.
- New tasks appear in myAlpari every week. Rewards for their fulfillment must be collected within the current 7 days, otherwise they will be canceled.
- For owners of regular profiles, the discount on commissions is applied first at the expense of coupons, then – for bonuses. With an active Single Merchant Account, there is a reverse order of deductions.
Promotions and contests on Baybit
This is another opportunity to increase earnings on the platform. Bybit regularly holds promotions and contests for clients. These are mostly trading competitions with cash prizes.
In addition to rewards, participants get the opportunity to hone their trading skills and test new strategies.
Announcements of new promotions are published on the main page of the exchange. Current and completed promotions can be found in the corresponding section. The most interesting events of January 2024 are in the table below.
| Promotion | What to do | Reward |
|---|---|---|
How to start earning on Bybit
You can get access to the crypto exchange’s features after registering and confirming your identity. KYC is a mandatory procedure and one of the levels of customer protection. Further order of actions:
- Refill the balance. You can transfer cryptocurrency from a third-party wallet, buy for fiat or deposit national money into the account. Baybit supports rubles.
- Go to the spot terminal.
- Select a trading pair.
- Study the chart of the main coin.
- Fill and place an order to buy or sell cryptocurrency.
Spot trading is the easiest and most common way to earn money on the site. Then you can move on to other instruments.
Registration and verification
Bybit uses a standard authorization mechanism. To create an account, you need to:
- Click on the “Registration” button at the top right.
- In the form that opens, enter your e-mail or phone number, enter a password, accept the rules of service and Privacy Policy.
- Click on the “Get welcome gifts” button.
- You can also authorize using your Google or Apple profile.
- Enter the confirmation code from the message sent to e-mail (phone).
After logging in to the profile, it is recommended to configure security settings: connect 2FA, antifishing code, set a financial password. It is also necessary to undergo identity verification. The order is as follows:
- In the control panel, select “Account and security”.
- Find “KYC Verification” in the list of settings. Click on the “Pass” key.
- Read the rules. Click on the “Pass Verification” button.
- Select your country of residence and type of ID.
- Click on the “Confirm” button.
- Attach a scan copy of the document.
- Complete facial recognition.
Once the verification is complete, you can deposit cryptocurrency and fiat money into the account, trade on spot, futures and P2P-platform, invest in Earn. The available amount of coins withdrawal is 1 million USDT. To increase the limit, you will need to confirm your registration address.
Deposit and withdrawal
You can transfer funds by fiat or crypto transfer. Transactions in rubles are provided. General instructions for replenishing the account:
- Log in to the profile.
- Click on the “Assets” button.
- From the drop-down list, select an account (funding or spot).
- To contribute funds in digital coins, select “Cryptocurrencies”, then select the target asset. Click on the ticker and copy the address.
- To deposit in rubles, click on “Fiat”. Select RUB, then click on the “Deposit” button.
- In the form specify the amount in rubles and select the payment method. For transfers from a bank card a commission of 2.5% is charged. You can replenish the balance using Advcash EPS for free.
The withdrawal process is similar. Cryptocurrencies can be sent to any external wallet. Advcash EPS is available for withdrawing rubles.
Pros and cons of earning on Bybit
In the summer of 2024, the Bybit platform is the third in the world in terms of turnover on the spot and the ninth in futures transactions. Unlike many other platforms, it has retained full access to core features and P2P for Russian traders. The advantages and disadvantages of the crypto exchange are listed in the table.
| Pros | Minuses |
|---|---|
Frequent questions from users
π’ What commission is charged on P2P?
There are no transaction fees on the peer-to-peer platform. Commissions may be on the payment systems side depending on the chosen payment method.
π How long does it take to process an application to become a P2P merchant?
The maximum time is 3 working days. In practice, less is required.
β¨ What is an NFT mystery box?
It is a type of activity reward. The NFT Mystery Box contains a unique digital item of one of 4 rarity levels. It can be activated at any time or put up for sale.
π Can bonuses and coupons be used in copytrading in the derivatives market?
No. Bonus rewards do not apply to this type of transaction.
β‘ Can I subscribe to multiple trading masters?
Yes. It is allowed to repeat transactions up to 10 trading masters. Please note that the parameters of operations may differ.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
