We are pleased to announce our next AMA on December 9th 2021 at 11:00 AM UTC Time: Satoshi Club x ByBit
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join ByBit Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. ByBit Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about ByBit
For more details:
ByBit Website – bybit.com
ByBit Telegram – @bybitspotofficial
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
BYBIT- I understand a Trader could also close a trade in BYBIT either to close a position in order to realize a profit or loss. Could you please explain to us what it means to close a position? What does it mean to close a position to realize a profit or loss? Are there any advantage (s) and disadvantage (s) in closing a position to realize a profit or loss under BYBIT ?
BYBIT- I understand there is New Referral Program “The more they trade, the more you earn”. How many numbers of referral are required to earn therefrom? What is the ratio or percentage of what to earn as the New Referral trade. what is the cost of trading under BYBIT ? Lastly, what is your commission the percentage for trading with BYBIT?
BYBIT – 8 Resources are thereto in learning BYBIT as I understood and one of them is ” How to create a BYBIT Account, and for traders on the Web, they are required to head over to the BYBIT homepage for the registration, but could be redirected such as the Fiat Gateway Page. Could you please explain to us what is this Fiat Gateway Page ? What does it stands for under BYBIT?
Most cryptocurrency trading platforms, like Binance and OkEx are welcoming NFT products and integrating their platforms with NFT marketplaces because of the sudden mainstream adoption of NFTs in the crypto industry. For ByBit, does it have plans on expanding its products variety and include NFT and NFT utility products like marketplaces and minting mechanism? Can you please discuss more about platform’s involvement with NFTs?
I can see that aside from providing cryptocurrency trading products and tools, ByBit also has an educational platform through its “ByBit Learn” feature. May I know, is this platform’s feature of yours available and accessible by anyone regardless wether the user has an account or not on ByBit? Do these educational materials come with a fee or charge or is it totally free?
Users who wishes to be part of ByBit’s community/team can do so through ByBit’s Affiliate Program. What’s interesting about this program is that its commission rate is more than two times higher than the industry standards. Can you discuss more about your Affiliate Program? What are the requirements of an applicant needed to provide before joining? Are there specific credibility that ByBit requires for an application before he/she get accepted? Also, aside from the commission, are there other perks and benefits for joining this program?
In your Media you said that From the basics of trading to how cryptocurrency is changing the way the world thinks about money, we’ll give you everything you need to start trading. So my question is,the changes that cryptocurrency is making will it extend to 2023? And what new items do you have to offer to the traders in crypto?
Bybit: In your post you mentioned to Get real-time market data and a competitive market liquidity to stay ahead, so my question is, is Bybit legal in all the countries in the world? Eg. China?
BYBIT, Since said in your post about Trade worry-free with our 99.9% availability track record even through volatile market periods, So my question is, is Bybit better than Coinbase?
Bybit, you to us in your post that you’ve made it easier to buy, sell, trade, and earn with cryptocurrencies, so what is the minimum deposit on Bybit?
I learnt that as the Bybit’s trading platform continues to expand, you aim to make the best efforts to select top-quality tokens/coins, and allow traders easy access to their preferred crypto assets. What are the measures carried out to ensure that any token/coin listed on Bybit is of “top quality” and not from a scam project? How can a project’s token/coin be listed on Bybit? What is the process to be followed in order for projects to get their token/coin listed on Bybit? Are there any requirements that projects must must meet to be eligible for listing on Bybit? Can you give an idea of the amount of fees you charge for listing a project’s token/coin on Bybit?
I learnt that the Bybit Launchpool allows users to stake and earn tokens for free. Can you give more information about the Bybit Launchpool? What is the minimum time that users are required to lock their tokens before being able to unstake? Will a user be able to compound his/her yield or will the user be required to make new deposits manually on the Bybit Launchpool? Will users be required to complete any form of KYC verification to be eligible for the Bybit Launchpool? I also learnt that the current Launchpool project allows you to stake $BIT and/or any new token. Will users receive their yield in $BIT only or will users also be able to receive their yield in other tokens/cryptocurrencies?
While going through your website, I noticed that Bybit enables three types of orders which are; “Spot Order”, “Derivatives Order” and “ByFi Order”. I have some knowledge about the Spot Order and the Derivatives Order but not ByFi Order. Can you explain more about the ByFi Order? What are the functions/features of the ByFi Order? What are the benefits that the ByFi Order offers to users?
Among the reasons why people should trade with Bybit you call your smart, intuitive crypto trading platform. As I’m considering adding Bybit to my portfolio, please explain how user friendly is the platform for those who make first steps in crypto trading as well as for experienced traders. How easy is to withdraw or deposit funds from/to any country and any crypto wallet? Are therу any countries where trading with Bybit is restricted? Thanks!
Some of Bybit competitors are trying to cover more and more percentage of population by listing on their platforms sport related tokens, luxury brands or famous artists NF tokens. Please share Bybit experience, achievements and plans to be promoting such trading by listing any of them. Personally, how do you evaluate thу presence of such industries in crypto and what do you think about their perspectives? Thanks!
A few months ago on Augusth 30th, Bybit was here on Satoshi Club for the first time, during that AMA session Bybit’s team told us about their newest product at the time Spot Exchange, about a trading competition that was going on and about more interesting things about the platform. With that in mind, can you tell us more about what improvements has Bybit done to the platform, Spot Exchange and it’s other services during this period of time? How did that Trading Competition went? Do you still have no plans of having Bybit’s own token? Has Bybit made any kind of changes to it’s products during this months where the market has been very unpredictable? What upgrades and milestones have you accomplished since August 30th and what accomplishment during this months are you most proud of achieving?
I was going through recent reviews about ByBit on Trustlpilot and seem to notice a general issue. Everyone seems to be having issues with withdrawal as well as your live support. What have you done or going to do to ensure your users do not keep having issues with withdrawal after depositing and trading?
In your reward hub, you are giving out $50 for first deposit within 48 hours and $20 for deposits after 48 hours for the Big Deals event. For how long is this reward going to last or is it a continous activity? Also, in the terms and conditions section of the Reward, you mentioned that Big Deal” coupon can only be claimed once after a first time deposit of BTC/ETH/EOS/XRP/USDT is made. However, articles 3 and 4 of the terms and conditions states that
Bonuses and coupons cannot be used for asset exchange, nor to cover any withdrawal fee and that bonuses are forfeited upon asset withdrawal. So, what exactly is the utility of these huge bonuses? Finally, what is the minimum deposit that can attract this bonuses?
On December 9 2021,there will be a Live Event with the theme that says “ByBit Next Level” and those who will join the program will have the chance to win $150 in bonuses.So can you give us a kind of preview of the what we should expect at the event?Where will the venue for this event be?You also mentioned that “Terms and Conditions” apply as regards to the rewards aspect of the event,so can we get to know what your terms and conditions are?How will you get to know who join in the live event so that you don’t end giving the reward to the wrong person?After the event,will there be a recorded part so that interested users can later look into it?If yes,where can we get it? Thanks
Margin trading is highly sought after for experienced traders that wants to make larger profits on successful trades which means that traders can use borrowed funds to leverage their trading,leading to a higher return on a small investment.Unlike some exchanges that allows up to 5x leverage,ByBit supports a maximum of 100x leverage.So do you think having a maximum of 100x leverage will be enough for all ByBit Traders?Giving up to 100x leverage is nice.But I am curious to ask,how about if there is a small drop in the market price,what are the risks involve surrounding your Margin Trading?And can you throw more light on this statement under your Margin Mode I quote,”Under Cross Margin,all available balance of the corresponding margin account will be deployed to meet maintenance margin requirements and prevent liquidation.Please explain Thanks
This was a mistake please
What kind of career opportunities really exist at bybit company in which their customers can benefit from?
Margin trading is highly sought after for experienced traders that wants to make larger profits on successful trades which means that traders can use borrowed funds to leverage their trading,leading to a higher return on a small investment.Unlike some exchanges that allows up to 5x leverage,ByBit supports a maximum of 100x leverage.So do you think having a maximum of 100x leverage will be enough for all ByBit Traders?Giving up to 100x leverage is nice.But I am curious to ask,how about if there is a small drop in the market price,what are the risks involve surrounding your Margin Trading?And can you throw more light on this statement under your Margin Mode I quote,”Under Cross Margin,all available balance of the corresponding margin account will be deployed to meet maintenance margin requirements and prevent liquidation.Please explain Thanks
Are they no disadvantages in bybit 100k T.P.S ultra fast matching engines,most especially when their is an overloading?*
Does bybit support their customers by providing a digital or online class to educate and guide their customers on how to make enough profits and zero loss in cryptocurrency trading?
Let’s talk about ByBit Funding Fees that ensure the last traded price is anchored to the global sport price similar to incurring I terest in Sport Margin Trading.And one of the rules governing funding fees on your platform is that traders can only pay or receive funding fee every 8 hours only if they hold a position at 16.00 UTC,00.00UTC and 08.00 UTC.I noticed you didn’t state if the timing of receiving the funding fees will be in the morning hours,noon or evening hours.Can you please provide the answer to that?Why is the funding fee/rate so important?Can a trader close their position prior to the funding time?What factors determine the funding rate?And how is the funding rate calculated?Please also provide details on how traders can receive funding fee notification . Thanks
I could see that they have multilingual support 24 hours a day, 7 days a week, which means that users will get answers at all times, all the time, you could tell us about your ecosystem and communities that make it up, who are its main users They have local communities, I could see that their referral program is attractive, but how do they plan to keep the interest of their users active as time goes by?
Please give us at least 3 reasons why we should trust Bybit as an exchange platform, for many users, exchanges harm the performance of users when making exchanges, what is your opinion about it, according to your experience, which is what What should a beginner in cryptography know and be clear about to start trading?
Please let’s talk about security as the top priority for trading platforms. To further enhance users security and protection for users assets,Bybit said he is “implementing major security upgrades”and is also working with “leading security experts”,blockchain businesses and data analytic companies accross the globe, this is quite impressive,can you tell us what are the leading security firms or experts you are collaborating or working with,is it CERTIK or TECHRATE? What are the major security upgrades you are implementing into Bybit ecosystem and the data analytic companies you are collaborating with? You also said Bybit has set up Asset security fund should incase users encounter any issues on regards of their assets on Bybit, how can users get Access to this fund? What criteria of users are reliable to this fund,is it ordinary traders or investors? How much % Bybit token have you allocated for this purpose?
As we can new crypto traders take advantage of the trading, fees, bonuses and testnet that Bibyt offers, you can tell us about the two main types of perpetual contracts that Bybit offers: Inverse and USDT, what are the differences between them and which one. It is one of them that has the greatest applicability, what are the rates, I read that they have an application for mobile phones and a version for desktop, what is the recommended one to their users?
While mentioning the reasons why we should trade with Bybit, one of the features caught my attention,which is “HD cold wallet” you said this wallet system quarantee the safety of users fund,I have never heard of this type of wallet before, please can you give details of this wallet, what kind of utilities is attached to this wallet? How can we be sure this wallet will quarantee the safety of our funds? Please kindly tell the unique features of this wallet that makes it different from the other wallets we know
Apart from been a cryptocurrency trading platform,Bybit is also a launchpad platform, what are the requirements for for projects to launch on your your platform? What are the advantages of using Bybit launchpad over other launchpads? Please tell us more about your launchpad platform and the features it can offer
Bybits help to allocate liquidity at an optimal price range,Can you tell us the optimal price range allocated to it’s user?Will unused token in your liquidity pool be burned?If 1 day is the minimum period for staking Bybits what’s the maximum staking period?Will staking for a longer period attract loss or higher yeild value?
In your Dual asset Mining
The staking asset capitalism guaranteed while yeild presented is a gauge and will be locked in on the day that bench mark price is set.When is it expected to be unlocked,6months or 1yr?The return in asset value isn’t guaranteed due to price value fluctuations.Is it as a result from the sell pressure from private investors buying at a lowest price and then liquidating their positions?
Bybit being a global cryptocurrency that helps exchange for all traders,institutions.Is there a regulation of the stable coin market.Do we need regulation of the stable market to address user protection and financial market stability or is it better off regulating itself?
Application Token/Coin listing on Bybits
You said the process is straight forward,send inquiry to listing@Bybit.com, with project name,country-Token listing as the subject which is the first information about the application process,Other information may be asked from the user,but that does not guarantee that the project Token/coin will be listed on Bybits.If the initial details doesn’t guarantee acceptance what other standards or criterias must they meet to qualify?Bybits won’t be charging any listing fee, will there be other charges attached for application?
Bybit Launchpad provide opportunity for it’s users to Gain early access to tokens from promising projects directly on Bybit. What are the uniqueness of your launchpad and what are your support scheme to attract quality and promising projects? Can you kindly explain your launchpad event timeline which includes: Snapshot period, Subscription period and Distribution period? What are your vetting process to ensure that only credible projects get launched and to ensure safety of your users assets?
One of Bybit’s DeFi product called ByFi Center is said to be a gateways to cloud mining where users get enhanced hash power for virtual mining, Offering greater profitability with fewer risks cloud mining service. Which advantages does your cloud mining service offer over other cloud mining service? Can you elaborate on your enhanced hash power cloud mining service and how it’s implemented to offer virtual mining, fewer risks and great profitability? How can users get contract for cloud mining, do you offer different plans and what is the payout modality? Which assets can be harvested directly via your cloud service?
In order to guarantee the safety of users funds, Bybit uses HD cold wallet system and also prevent risk of unfair liquidation via it’s State-Of-The-Art dual-price mechanism. What are the uniqueness of this HD cold wallet system and how does it work to guarantee safety of users funds? Can you briefly explain the dual-price mechanism implemented in your platform and how is it different from the single-price mechanism? Lastly which other safety measures have you implemented to ensure safety of users assets generally?
Why choose ByBit instead of known exchanges that already exist, what is the difference to trade in ByBit? tell us about the functions and benefits that your platform offers to users who have just started using the ByBit exchage? Can we trust your platform how secure are our user data and assets on your platform? What is the system they use and the response capacity they offer in case of emergency? Can you tell us more about the benefits and features that ByBit offers?
What are the ways to earn at ByBit? What is the function of Bybit Earn and how to get the best out of it? Does your platform have a referral program where you can invite friends and get some benefits? I would like to know if ByBit currently has a mobile application for Android and iOS systems? or can we only have access from a PC on a website? Can you give us more details about these functions?
I found out about Affiliation Program which allow community to be the part of ByBit. What is the mechanism of Affiliation program and in what way the community can get involve it? Is there bound agreement state about the obligation and benefits of both party in this affiliation? What is applicant’s criteria to apply for Affiliation program?
There’s ByBit Earn at your platform and, could you please explain about it? How can we earn, in what way the earning comes, how long until the earning gained? Moreover, many exchanges platform usually have referral program in which a person who refer a new user to ByBit may earn a certain percentage of rewards. Please tell us Bybit referral mechanism if you have it.
BYBIT is constantly adding new updates and derivative pairs to its platform, can you tell us what conditions apply to add new pairs? Also, could you tell us if there is any kind of geographic restriction to operate with Bybit? Can I travel anywhere in the world and still be able to access my funds?
You have activated the promotion of $100 USDT with the first deposit of any currency as a welcome bonus, I could see that there is the possibility of generating income in spot with these bonuses but I have no idea how to operate in derivatives with this money, could you tell us if there is a tutorial to take advantage of this promotion? How does the referral bonus system work?
This platform is like a great resource platform. Can you share some information about,
How many students learnt from BYBIT? Currently, How many students you have? How many students get succeed from BYBIT platform.
This information would be great for crypto beginners.
Bybit platform looks great. My question is: How does Bybit ensure the safety of user’s assets? What security measures are put in place to ensure their safety?
Well, customer service of such a great platform is very important. How available and how responsive is Bybit’s customer service?
Looking back at the mid-year periods (end of Q2 2021), Bybit recorded some impressive numbers from; over 2.5 million global trading clients from 200+ countries, to reaching more than 1 Trillion total trading volume, making a record of $76 Billion in 24hrs daily trading volume & many more outstanding feats. As impressive as these are, I would love it if you can compare these strides with Bybit’s figures as at the end of current Q4 2021, how has ByBit performed over the course of 6 months, what growth, integrations, expansions and achievements has Bybit recorded during this time? Have you surpassed your projections on current exchange adoption numbers and daily trading volumes? Also, kindly enlighten us on future plans and ambitions, what does 2022 have install for your community?
As a trader myself, I involve with Spot tradings & Day tradings in some exchanges like Okex, Binance. What kind of special features does the ByBit exchange consist with that other exchanges does not include for traders? On which facts do you recommend the ByBit exchange as the best trading platform in crypto market currently? Traders know that the technical analysis is the key to enter for a trade, So Technical analysis takes place as a important aspect according to my experience. Can you explain about the ByBit’s tool & Price Chart (Candlestick chart) that you provide to accurate predictions in short term & long term tradings? What are the extra offers in ByBit exchange for traders currently have, Are there any kind of trading competition ongoing?
Nowadays, NFTs are trending topic in Crypto space since it’s real world benefits & trackable of ownership history. Lot of exchanges release their own NFT section like Binance NFT. How about the ByBit exchange in this matter? Do you have own your NFTs for the ByBit Community? If yes, In which manner are those NFTs demonstrated their utilities & legal rights (Ownership) within the ByBit ecosystem? Are they be tradable in other NFT marketplaces such as Rarible, Opensea etc..? What kind of benefits can the ByBit NFT holders aquire as royalty rewards?
Looking at some products and service integrations of ByBit done earlier this year, which ranged from DeFi functions, to improved storage and security; ByBit rolled out Cloud Mining service on ByFi Centre, had its annual WSOT Trading Competition, included both Spot and Options trading, launch of Wallet 2.0 and more. Though these products, events and services, have concluded and are in current use, but they formed a vital aspect of ByBit’s ecosystem. So can you talk extensively on them, how has their integration immensely improved ByBit’s services, talking a little bit more on your wallet upgrade, what are the enhanced features users currently enjoy. Also, can you shed some light on the WSOT Trading Competition held in August, how successful was it?
Recently, A hacker have taken $196 million from Bitmart exchange. So the investors are disicline to invest their money on exchanges. How will you protect your investor’s assets by eliminating the FUD in their mind? How about the security system of ByBit exchange, Will it be vulnerable to attacks from hackers like Bitmart exchange? How will you gurantee that ByBit exchange is safer than other exchanges?
At ByBit, amateurs and newbies are welcome as the ultimate guide in learning the fundamentals of trading. Is this free or does it requires a fee per session? Do you have any learning courses that may help us in all aspects in the field of trading? In what platforms will these guide be in?
I discovered Bybit is different from other cryptocurrencies exchanges with their unique product, the perpetual swap futures: and currently Bybit offers a perpetual swap futures product on four different coins: Bitcoin, EOS, Ether and Ripple XRP. Can you elaborate on perpetual swap futures? What makes these perpetual swap futures products different from traditional futures product? Can you explain on why you chose to start with these 4 perpetual swap futures products? Are there plans to increase these perpetual swap futures products?
Inorder to safeguard users, bybit introduced the Bybit insurance Fund. can you briefly elaborate on bybit insurance fund? Can you also explain how the bybit insurance funds works? What are the situations that will cause this insurance fund to be used? ? And lastly, why did Bybit platform choose to adopt ByBit insurance fund instead of usual socialized loss Scheme?
one of the major problem of exchanges for traders are the lack of implementation of Fiat currency as most platforms don’t support direct Fiat deposit and withdrawals and Bybit supports cryptocurrency deposits as its easiest deposit method, but it also has the option for fiat deposits using its fiat gateway. Can you elaborate of your Fiat Gateway and how users can deposit Fiat Using the Fiat Gateway? Also, when I tried clicking it, I was redirected as asked for KYC verification, and Bybit platform doesn’t require KYC verification for users, why did you chose to ask for KYC verification of users who want to access the Fiat Gateway?
Bybit offers its customers the ability to earn money by referring new people to the exchange. This program has two levels it operates on. Can you explain on the two different levels of your affiliate program and how users and traders can belong to each of these levels? How are user incentivized and rewarded for participating in referral programs?
I read that Bybit offer trading contests for its traders, can you explain more on your trading contests and how often they are organized? What are the requirements for users to participate in Bybit trading contest and how are the winners selected?
I found out that Bybit Derivatives program has an Inverse Perpetual and Inverse Futures,but for some newbies that has less knowledge about trading,so can you tell us more about the Inverse Perpetual and Inverse Future in Bybit? How does it works and how does it gives a better profit for traders? Does Inverse Perpetual and Inverse Futures is suite also for begginers or it is only for crypto expert?As we know that trading with perpetual and future are a bit risky,so with Bybit how can you advice traders in managing risk especially with Inverse Perpetual and Inverse Futures? Do you have any tutorial video or guidelines especially for crypto begginers that want to learn more about trading specifically with Bybit? Thank you
I learned that Bybit has a program for traders which is the “Study to Earn” program,so can you explain more about this program in your platform? How can anyone attend and participate this program? Do we need to have a Bybit account to attend this program? Does this program is free or we need to pay to register and attend this program? Can you give us some hint or idea what knowledge and learnings we can get from attending your “Study to Earn” program? How many days or weeks does this program lasts? Lastly,can we get any certificate after we can accomplish to attend this “Study to Earn” program? Thank you
Hello ByBit Team,
I want to know more things about the ByBit Launchpad. What are the Criterias that strictly consider by the ByBit team when a new token will be listed? Can you explain us how the pre registration process works in ByBit platform? Is there a time period like one week to hold or stake $BIT tokens to elgible for getting new tokens from the ByBit launchpad? In reality, users invest their money to take a average profit. So how will the users notify when a new coin will be listed or De-listed?
Hello ByBit Team!
According to the some articles, ByBit exchange are on 14th rank at the moment & ByBit is a centralized exchange. So how do you manage the growing of ByBit exchange as faster than a rocket while giving a centralized services? Will you able to bring this trading platform to the number 01 in DeFi world? Please explain us about your future planning structure?
Q2. BY BIT.
My question is this, I’ve been using Other known exchanges for a while now, and seen this Project on Satoshi Club got me Curious, & After going through your site for a while, i noticed some Interesting stuffs in Bybit, but can you tell me in what aspect does your Platform surpass others out there? What qualities and advantages does Bybit Offer to its community, that existing platforms don’t? You also mentioned event timelines with regards to your Launchpad, which are the:
1)Subscription period
2)Distribution Period
3) Snapshot period.
Can you please enlighten us more about these Event periods regarding your launchpads?
Hello, can you please tell us about the upgrades of your security measures you’re implementing into bybit, and do have any collaboration with any security firm to ensure that both you and your users are safe? Please you also talked about setting up Asset security funds for possible issues with regards to unforeseen problems Encountered with Assets on your platform, please can you tell us more about this? And in what ways would users get access to to this Funds? Thank you.
You know the technology is running too fast. So how do you be updated your project? How many developers engineers works?