Where to loan crypto?

    James Bidman

Crypto has become a popular word in the market lately, and many are looking to make money off of it. But what does this really mean? Crypto is not just about currency; there’s so much more than that! You’ll learn how crypto works financially as well as its benefits or drawbacks depending on who you ask–some say blockchain will change everything while others claim nothing could ever replace traditional fiat currencies like dollars and cents (replaced by cryptocurrencies). In any case take my advice when I say start learning today because tomorrow may be too late.

One of the most popular ways to invest in cryptocurrency is by buying and holding them till their value increases. But what if you want something more than just an increase? There are people who talk about lending out funds for tether interest rate as high at 60% per year!

That sounds like a fantastic deal, right?

The concept of lending has not changed much, but now it’s done with cryptocurrency instead. An investor can lend out their money to borrowers and get paid back in crypto dividends – all while keeping your investments safe! Reasonable question – where to loan crypto? Well, there’s a variety of platforms to help you do this!

How to choose a Cryptocurrency Lending Platform?

The key factors to consider when selecting a lending platform are: interest rates, risks involved in each individual coin’s history with that particular service/team behind it and how much fees will increase or decrease depending on what you’re using as collateral versus simply giving them all your money up front. It might also depend upon which type of cryptocurrency exchange has been used for deposits

selects the right platform for a particular coin. For instance, if you see that Binance provides better returns on lending Bitcoin then this might be your best bet!

It is important that both borrowers and lenders do their research before committing funds. You don’t want to end up paying more than necessary because of misinformation or choosing an inferior platform, while also making sure you’re getting the best return on your investment by looking at all available options!

MoneyToken

Money Token is a Decentralized Platform that lets you manage all your crypto assets and also receive loans with just a few clicks. The process couldn’t be simpler! As soon as we select loan terms, deposit collateral to secure our requests – which are usually fulfilled within minutes if not seconds-, wait until they’re accepted by the platform before receiving funds into account; no need for lengthy waiting periods here thanks folks because everything happens fast-paced indeed.

CoinRabbit

CoinRabbit is the best choice for both beginners and experts who want an easy-to-use service with security measures in place. The non KYC approach means that you don’t need any documents, just your email or phone number to create an account, bitCoin rabbit does take extra steps like carrying out multiple checks on clients’ funds before they are withdrawn from their hot wallet.

CoinLoan

You don’t need to touch the coins on this table. They’re collateralized by something you do have- your crypto assets! That’s right; CoinLoan offers loans backed exclusively with cryptocurrency which means there are no worries about selling off those hard working bitcoins or Ethereum anytime soon (if ever). The benefits don’t stop here either… If investing through this company was good enough for millions of greenbacks then what will happen when we add tax breaks into play? It’ll give us even more cash in hand than before.

SpectroCoin

One of the best features about SpectroCoin are their crypto loans. You can choose from a variety of 25% – 75%, and they accept Bitcoin (BTC), Ethereum(ETH) XEM or DASH as collateral! As expected, there’s no better place for those who want higher interest rates than with cryptocurrency backed by solid assets like gold bars in your closet… But be careful: The larger loan amounts mean lower APR so make sure you compare before choosing what seems most attractive based on price fluctuations at time when borrowing money will mature

The following passage talks mostly about how people might use these services but also provides some context regarding why this type/brand may prove popular among certain demographics

With its flexible range, the best part about SpectroCoin is that you can withdraw in EUR or USDT with just one click. It also offers withdrawals for Bitcoin and Ethereum so your funds are safe no matter what type of cryptocurrency lover they want to be!

Nebeus

They call it the “incredible returns” and that’s because there are so many people who want to get into crypto but don’t know how. One way you can do this is by renting coins from Nebeus, which offers some of the best rates in all four different earning programs! For instance, if your goal was 6% annually on stablecoins then they would give 12-13%. It doesn’t stop here either; when withdrawing profits back after 24 hours as well equal amounts without any fees whatsoever makes them even better than most traditional banks for getting started early.

Celsius

Celsius is a huge name when it comes to lending and borrowing cryptocurrencies. You can earn up to 17% yield on your loans, whether you are the lender or borrower! Not only does this allow for no fees at all with either borrowing or transferring coins; but also has an app format so that users from around world will be able enjoy these benefits as well

A lot of people want in on crypto lending networks like Celsius because they know there’s big bucks involved – if their investment pays off big time then someone else might just give them some cash back (with interest).

Blockfi

BlockFi is a cryptocurrency investment platform that allows users to buy, sell and hold different cryptocurrencies with up 8.5% APY*. It’s easy – there are no hidden charges or minimum balance requirements! You can store your crypto assets in one place so you don’t have to worry about keeping track of multiple wallets anymore either.* Plus Blockfi will even make it easier than ever before possible for them to earn more money by storing all of these precious digital tokens right alongside me.

YouHodler

With YouHodler, you can get a cryptocurrency loan in any of the top 15 coins with up to 90% LTV. For storing & exchanging crypto-assets as well paying anyone through these currencies – all at an instant cash rate that’s better than banks! The best thing about it: no need for lengthy waiting periods or complicated processes because we do everything behind the scenes so your funds are instantly available when needed… even if they’re worth thousands dollar more now thanks*

You’ll never have trouble getting someone who wants what YOU want due.

Binance

Binance is the leading cryptocurrency exchange, with 1 million transactions happening every second. They have also created their own coin named “BNB.” The aim of this company is to increase decentralized finance around world and currently there are plenty service providers building blockchain applications on top Binance’s ecosystem

It can be said, Binance is a one-stop solution for everything in the blockchain world. Whether you wish to buy, sell or exchange your crypto asset with other cryptocurrencies on this platform; Binance offers loans against various types of coins and even allows users who aren’t necessarily knowledgeable about trading platforms access these features by creating ” liquidity providers” which gives them better rates than those found elsewhere online! In addition they have developed their own NFT marketplace so that creators can auction items off right from within its interface – making it easy as pie.

Conclusion

For those of you who are into cryptocurrencies, lending is an option that should definitely be on your list. You can earn high interest rates by loaning out your crypto assets and providing liquidity to various platforms rather than just holding them in a wallet for everyday use; this way both parties get what they want – passive income!

Wirex Review

    James Bidman

Wirex is a banking app and contactless Visa card. They were founded in 2014 and hold a UK FCA e-money license. Spend your Cryptocurrency anywhere that accepts Visa and you even earn cashback on in store purchases.

Wirex banking app and Visa card is a great way to store and spend your cryptocurrency. Each account can have up to 3 Visa cards in 3 different currencies (GBP, USD, EUR). You can store 9 different types of Cryptocurrency in their wallets and convert your cryptocurrency into over 10 different fiat currencies with competitive exchange rates. You also receive an account number, sort code and IBAN number.
Best thing about Wirex: You can earn between 0.5%-1.5% on in-store Visa purchases.

Worse thing about Wirex: Their Visa card is only available to members of EEA countries. These countries include Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.

Crypto Price Today: Cardano (ADA), Solana, Shiba Inu Plummet

    James Bidman

The cryptomarket is currently seeing a large selloff due to unfavorable macroeconomic conditions. In the last 24 hours, Bitcoin has dropped 0.8% and is now being traded at Rupees 15,86,409. All of the gains that were made from the post-CPI rally have been erased. However, altcoins are taking by far the largest hit out of all crypto currency during this “crypto winter.” Cardano (ADA) appears to be one of heaviest losers in market right now.

Cardano prices have been plummeting as of late, falling 3% yesterday and trading at a measly Rs. 28.98 today. In the past 24 hours alone, Cardano has lost close to 9% value and doesn’t seem to be slowing down anytime soon; it remains one of the most volatile cryptocurrencies in circulation.

Ethereum has decreased by 2% over the past day and is presently trading at Rs. 1,06,239. This recent poor performance is evident throughout the altcoins market.

In the last 24 hours, Solana fell 5% compared to Cardano, trading at Rs. 2371.

The Shiba Inu price also plummeted due to the crypto crash. $SHIB fell by 3% in this crash and is currently trading at Rs. 00081.

US Federal Reserve key officials gave speeches yesterday that reconfirmed the priority of curbing inflation rates, no matter what else happens in the economy. Charles Evans, CEO and President of the Chicago Fed said interest rates will still need to rise a lot to reach satisfactory inflation levels.

The target interest rates needing to raise next year in order to stop inflation, according to him, will be between 4.5% and 4.75%.

James Bullard, the President of the St. Louis Fed, People were worried about productivity in the economy being negative, but James brushed those concerns aside. He stated that inflation needs to be taken care of quickly.

The broad crypto market is seeing turbulence courtesy of the evolving economic outlook. Among altcoins, Cardano has been one of the most volatile, losing nearly 8% in value over the past week. With increasing competition amongst altcoins, investors in $ADA will be hoping to see some signs of strength from Cardano soon.

Review of Crypto Fee’s Open-Orgs

    James Bidman

The crypto market is a moving target.

Just when you think you’ve got your finger on the pulse of a coin or tokens price action it moves in an unexpected direction.

The reality is that getting it right every time is next to impossible even so you can increase your chances of success by leveraging the right crypto tools.

That’s why today I’m going to tell you about some of the best crypto tools I’ve come across and how to use them to maximize your crypto gains.

The best crypto tool to add to your belt is actually a Bundle and that’s Crypto Fees open orgs money printer and l2 fees by cryptostats and the smart contract cryptocurrency gas tracker by own chain.

So starting with Crypto Fees what this tool is all about is clearly noted at the top of the page quote there’s tons of crypto projects which ones are people actually paying to use.

If that didn’t make it clear enough Crypto Fees tells you how much people have paid in transaction fees to use a smart contract cryptocurrency or decentralized application over the last 24 hours and seven days.

Crypto Fees is useful because it tells you which crypto projects and protocols people are actually paying money to use and this can help you assess whether their associated coins or tokens are undervalued or overvalued relative to these transaction fee fundamentals.

Keep in mind that some crypto projects and protocols have very low transaction fees as such there could still be lots of demand for its coin or token even though the transaction fees are low.

Now some would argue that higher transaction fees equals more demand but that’s a topic for another time.

Now the next tool in this Bundle is open orgs which like CryptoFees clearly states what it’s about at the top of the page quote dows are the new companies what’s on their balance sheets.

If that didn’t make it clear enough open orgs tells you how much crypto is being held by dows and what’s cool is you can see which cryptos they’re holding in their treasuries by clicking on the little arrow next to the treasury balance.

This is important to know because spending by dows can be a strong source of cell pressure for a cryptocurrency.

This is especially important if the dow holds primarily the coin or token belonging to the crypto project or protocol which you’re presumably invested in.

If you’re a fan of said project or protocol then there’s money printer which actually has nothing to do with the Federal Reserve.

Money printer is a tool that keeps track of how much annual inflation there is for major cryptocurrencies and how much potential cell pressure this inflation is creating on a daily basis for their respective coins as with crypto fees.

It’s important to remember that a small annual inflation rate can still translate to a massive amount of daily cell pressure depending on the market cap of the crypto in question.

Now you can easily toggle this setting by clicking on the issuance rate and daily issuance tabs.

L2 fees is more straightforward as it’s a tool that tells you the transaction fees on Ethereum’s most popular scaling solutions including transaction fees for a simple ETH transfer as well as a more complex token Swap.

This can help you save money when transaction fees on Ethereum are high.

This ties into the last tool in the bundle and that’s the Gas Fees Tracker.

By own chain which is seriously underrated probably because of how the website and the tool is named which is just gas with many s’s.

As you can see the gas fees website shows you the transaction fees for most major cryptocurrencies both in their native coins and in US dollars.

This can be extremely helpful when you’re trying to say move cryptocurrency between exchanges or need to move a token like a stablecoin between wallets.

Crypto Exchanges – Next target for SEC?

    James Bidman

Now while we wait for the next market crash to come we get to sit and speculate which cryptocurrencies the Securities and Exchange Commission or SEC will Target in the next two weeks as its fiscal year comes to an end and the regulator engages in more important actions to justify its budget.

SEC chairman Gary Gensler has made it clear on many occasions that the only cryptocurrency that’s safe from the regulator scrutiny is bitcoin’s BTC.

As far as Gary and the Gang are concerned almost every other cryptocurrency is a security and therefore requires strict regulation.

As we’ve seen with XRP any crypto that’s targeted by the SEC will be delisted from cryptocurrency exchanges in the United States and the company behind the crypto project along with its Founders will likely get hit with a large fine.

So far it seems the only thing that’s been protecting the crypto industry is the fact that there are too many coins and tokens for the SEC to regulate individually.

That’s why the SEC has apparently opted to go after crypto exchanges instead and we could see some serious enforcement actions there soon.

Even so the recent establishment of two dedicated crypto offices at the SEC along with the continued expansion of the regulator’s crypto-specific personnel suggests that we’re more than likely to see enforcement actions against individual crypto projects as well.

As it so happens the SEC’s number one crypto Target is stable coins which Gary somehow believes to be Securities even though there’s no expectation of profit to be had in an asset that maintains a stable value.

Unfortunately it doesn’t change the fact that the SEC is likely to go after stable coins at some point and this looks even more likely than ever.

How to Invest in Cryptocurrency Without Buying It

    James Bidman

If you want to invest in cryptocurrencies without buying them directly, there are a few things you should know. You can choose to invest in Bitcoin, Ethereum, or other altcoins indirectly. Here’s what you need to know about indirect investment in cryptos.

If you’re not interested in cryptocurrency but still want to invest, don’t worry! There are plenty of options for an indirect investment where you can get exposure to it without having to actually buy any. These traditional methods include stocks, mutual funds, and exchange-traded funds (ETFs).

As previously stated, there are several factors to consider, including security, costs, and the risk of losses. When you purchase cryptocurrency through a third party, that third party will gain money in some manner; therefore, think about it when deciding whether or not to make an indirect investment.

The first way to acquire cryptocurrency without immediately purchasing it is through investment funds. Grayscale Bitcoin Trust is one of the first well-known entrants to this market.

GBTC functions similarly to an ETF, but it is classified as a different type of investment. By investing in GBTC through your brokerage account, you will gain similar benefits to buying a Bitcoin fund. The value of your GBTC investment will correlate with the market price of Bitcoin.

The biggest downside to Grayscale is the 2% expense ratio.

It’s as simple as this. They’re just taking a 2% cut for purchasing Bitcoin and keeping it in your name at a wallet. You can accomplish that yourself with little effort, saving money on the cost of holding Bitcoins in your own account.

The ProShares Bitcoin (COIN) and ProShares Short Bitcoin Futures Strategy ETF (SGBTC) are two separate funds that aim to provide investors with a hedge against the currency’s volatility. Other alternatives include the VanEck Bitcoin Strategy ETF (XBTF), Global X Blockchain & Bitcoin Strategy ETF (BITS), and the Bitwise 10 Crypto Index Fund (BITW). Fees, as well as underlying investments, differ depending on which fund you choose.

If you’re looking to invest in a firm that works in the blockchain sector, choose between firms that create or hold crypto on their balance sheets.

Cryptocurrencies are produced through a process called “mining.” They may be mined using any computer with a GPU and internet connection, as well as video cards that have been modified to mine. Riot Blockchain (RIOT), Canaan (CAN), HIVE Blockchain Technologies (HIVE), and Bitfarms are four examples of stocks in the cryptocurrency space. Coinbase is one of the most recognized cryptocurrency exchanges and includes COIN as one of its top 10 cryptocurrencies.

Not only do cryptocurrency prices usually drop during a downtrend, but many crypto stocks tend to fall as well. Keep that in mind before making any purchases, and if you have second thoughts about your investment decision or plans, consider talking to a reliable financial professional.

Besides buying cryptocurrency outright with fiat currency, another way to fill your portfolio is by using credit card rewards. Some cards offer the opportunity to earn crypto just for paying with the credit card like you normally would.

The BlockFi Rewards Visa Signature card, Gemini Credit Card, and Upgrade Bitcoin Rewards Visa are notable personal cryptocurrency credit cards. The Crypto.com exchange and Coinbase offer a rewards card as well.

The SoFi personal credit card and Venmo credit card offer great redemption options, including cryptocurrency.

By earning crypto as a credit card rewards, you are investing in crypto without having to put any money down. Even if the value goes down, you didn’t spend anything so whatever you end up with is pure profit.

Cryptocurrencies are sometimes described as a revolutionary technology that will revolutionize the world. For individuals who want to be part of the new technology, investing indirectly in cryptocurrency is an excellent alternative. As a consequence, the portfolio will be more diversified, and the risk will be dispersed more widely.

Last week’s key crypto events

    James Bidman

Last week the stock market shed over 1.2 trillion dollars after fed chairman Jerome Powell made it clear that the central bank would continue aggressively raising interest rates to fight inflation during his speech at the annual Jackson Hole symposium.

Those of you who watched Jerome’s speech will know that it was abnormally short with Jerome getting straight to the point and specifying that the fed is prepared to cause a quote prolonged period of below trend growth to fight inflation. What’s even more terrifying is that Jerome admitted that the fed has no control over the supply side factors that are causing inflation and will therefore have to do excessive damage to the demand side of the equation to bring it down by raising interest rates.

Bringing demand down to bring it in line with supply as Jerome repeatedly stated on Friday would basically require another 2008 style financial crisis hence why the admission is so disturbing. To make things worse there are fears that the fed’s monetary policy won’t be enough to stop the inflationary forces of the fiscal policies that continue to be passed in the United States such as the recent student loan forgiveness program which arguably announced to another round of stimulus. If that wasn’t bad enough the fed is scheduled to accelerate its quantitative tightening come September which is literally later this week.

For context the last time the fed started reducing its balance sheet the stock market crashed by 20 percent in the months that followed. It’s not unreasonable to expect a similar situation this time around especially since a 20 decline would be consistent with the roughly 40 drop the crypto market needs to see to reach its bear market lows at least according to our calculations. Now even though the crypto market is likely headed lower in the medium term it’s quite possible that it will still see another recovery in the short term.

I say this because the scary shakeout we saw over the weekend was mostly due to leveraged traders getting liquidated. Now as painful as this was it wiped the crypto market clean of most of the speculation that’s been accumulating over the last couple of weeks and provided a more stable base from which the crypto market could move higher in the short term.

Week’s top headlines in the crypto news

    James Bidman

Here are this week’s top headlines in the crypto news.

Inflation expectations, the crypto market rallies on promising inflation statistics but comments by fed officials suggest it’s too soon to celebrate.

Ethereum advancements following another successful test. Net developers move up the date for the much anticipated merge. When could eth see the top of its current pop?

Tornado crash a privacy protocol on ethereum is sanctioned by the u. S department of the treasury causing d5 protocols to block associated wallets.

What does it mean for crypto? Blackrock is buying shortly after partnering with coinbase.

The world’s largest asset manager launches a private bitcoin product for its elite clients.

Why this is both bad and good news? cbdc’s coming to your country as citizens around the world lose confidence in their governments their central banks prepare to rush out their dystopian digital currencies.

What you’re about to read is educational content not financial advice.

 

The Best Bitcoin and Cryptocurrency-Lending Companies

    James Bidman

Bitcoin loans are becoming increasingly popular among crypto investors seeking for liquidity without having to sell their cryptocurrency.

As an alternative to selling your crypto, you may use it as collateral to acquire a house, start a company, or pay off high-interest debt. There may be tax advantages to borrowing crypto as well. A crypto or bitcoin secured loan does not result in a capital gains event, saving you the trouble of conducting your crypto taxes. Companies that provide cryptocurrency and bitcoin loans have emerged all over the world in order to meet this demand. This article identifies the top 10 cryptocurrency lenders.

BlockFi

BlockFi is a fintech firm based in New Jersey that provides crypto investors with services to allow them to make the most of their digital assets. With interest-earning accounts and low-cost USD loans backed by cryptocurrency, the firm serves customers all around the world, including 47 states in the United States. BlockFi has backing from firms such as Galaxy Digital, Susquehanna, Akuna Capital, Fidelity, Recruit Strategic Partners, Coinbase Ventures, CMT Digital, SoFi, ConsenSys Ventures, and Morgan Creek Digital.

To obtain a loan, you must either offer Bitcoin, Litecoin, or Ethereum as collateral. The firm now offers a maximum of a 50% LTV on your crypto loans.

To borrow $25,000, you’d need to put up roughly 10.06 Bitcoin as collateral (currently worth around $50,000). Interest rates begin at 4.5 percent and extend to 24 months for loans of this sort.

Unchained Capital

Unchained Capital is a crypto and bitcoin lending firm located in Austin, Texas. The business uses a three-step process to grant loans. They can give up to $1 million in cryptocurrency loans per day with the quick procedure.

Unchained has its own approach to loan custody and protection. They break the one-point-of-failure pattern of crypto custody by introducing a multi-signature system for storage.

The vault protects your assets in three key locations using three separate key holders. The collateral is secured by a contract, which is then kept in multi-signature addresses requiring two out of three keys to spend. You (the borrower), Unchained, and a third-party key custodian are the keepers of these keys. There is no single source of failure since no one individual or organization has such influence. This ingenious safety feature adds significant value for Unchained as a whole.

Salt Lending

Salt Lending is a firm based in Denver, Colorado, that provides Bitcoin and other crypto loans. According to its website, Salt Lending is the first blockchain-backed loan and offers loans in Bitcoin, Litecoin, and Ethereum with an LTV ratio of 50%.

The firm is growing its lending areas across the United States and to countries like Bermuda, Brazil, Hong Kong, Switzerland, the UAE, and Vietnam to provide individuals and firms with access to financial freedom via blockchain assets.

As an added bonus, Salts also gives you near-real time monitoring of your account and certain assurances that your assets will be there for you when you need them.

SpectroCoin

SpectroCoin is a crypto broker based in Lithuania that has been a top pick among European crypto brokerages since 2013. SpectroCoin recently introduced a crypto-backed loans program, with minimal requirements at just 25 EUR but maximum loan sizes ranging from 75,000 to 1 million EUR. Furthermore, SpectroCoin offers one of the lowest minimums on the market at only 25 EUR, as well as an option to provide loans with a market-leading 75 percent LTV ratio.

The company accepts bitcoin, ethereum, xem and dash as collateral. Clients may take out and repay loans in major cryptocurrencies such as bitcoin and euros.

Businesses may obtain a crypto-backed loan through Worldpay. In addition to crypto-backed lending, the firm provides a wallet, digital wallets, debit cards, and individual IBANs for clients.

Nexo

Nexo, a Swiss fintech firm with offices in the United States and Hong Kong, is one of the world’s major crypto lenders. When you deposit bitcoin and other cryptocurrencies into your Nexo wallet, you may get an instant line of credit.

The business offers loans in a number of cryptocurrencies, including Bitcoin, Ethereum, XRP (Ripple), Binance Coin, and Litecoin.

The process of obtaining a loan from Nexo consists of depositing cryptocurrency in a safe Nexo wallet, receiving immediate access to cash, and no credit checks are required. The wallet is completely insured and enables you to borrow in over 45 different fiat currencies across the world.

Apart from loans, Nexo provides interest-bearing accounts and other financial services based on your cryptocurrency. Today, the firm has already given more than $1 billion in crypto loans.

Crypto Tax Software

Are you using bitcoin and cryptocurrency loans to save money on taxes? Borrowing against bitcoin does not result in a taxable event. Receiving interest payments, on the other hand, does, and monitoring all of your cryptocurrency transactions may be difficult. By utilizing crypto tax software like CoinLedger, you can compute and report your tax obligation for crypto automatically.

CoinLedger is a cryptocurrency tax preparation software that has been used by tens of thousands of crypto enthusiasts to prepare their taxes. Simply submit your transaction history to the system, and it will create the corresponding crypto tax returns automatically. You can distribute these reports or upload them into popular tax filing programs like TurboTax or TaxAct.

ByBit – Our Review

    James Bidman

The Singapore based Bybit is a derivative exchange born in late 2018 and focused on perpetual contracts, putting it in direct competition of the likes of Bitmex and Deribit. As the new kid on the block with an aggressive and very efficient affiliate system, it faced immediate skepticism by the crypto community, but dissipated every doubt month after month with consistent upgrades and deep liquidity, as well as innovative gamified elements. It is now in our opinion one of the very best derivative exchanges out there. Let’s see why.

The first thing you’ll notice while signing up to Bybit is how simple and fast the process is and how clean the interface looks. This simplicity and user friendliness will permeate our whole experience on the exchange, something not too common unfortunately in the often overcomplicated derivative exchange world. Bybit operates as a strictly crypto to crypto exchange so it doesn’t require its users to perform stringent KYC verification making it a great choice for all the privacy focused users out there. It currently generates over $1B worth of daily trading, providing deep liquidity on all of it’s trading pairs, especially BTC and ETH.

In terms of security Bybit offers all the features that we have come to expect as industry standards : 2 factor authentication, a deep insurance fund, Ip address white listening. Most of the funds are kept in cold storage, with a multisig system in place : a welcome sight.

The trading engine is extremely powerful and on their website they boast a 99.9% uptime : after our extensive “stress test” we are pleased to report that those numbers are not overstated, we never had problems of any kind and, even more important, never ever incurred in any “bitmexesque” overload issues, even at the most volatile of times. This gives a certain peace of mind when logging in to trade those volatility spikes, and we found ourselves more and more prone to use Bybit as the go to exchange in these situations.

Bybit also employs a really efficient strategy in new user acquisition : gamification. There’s a number of task-related bonuses, pretty significant too, that user can unlock with the completion of very simple actions that pertain either to the social media sphere, compounding Bybit’s exposure further, or to mastering the trading engine, encouraging signups to actually familiarise with the exchange. Those bonus also rotate often and new ones pop up regularly. The total signup bonuses usually amount to about100$ of completely free real money capital that trader can use to master the exchange. Another aspect of their gamification is tournaments : although unfortunately they don’t happen as often as we’d like, Bybit does occasionally run some of the best and biggest crypto tournaments in the space. One of the most spectacular ones being the BTC Brawl, with a 100 BTC prize pool up for grabs !

Together with more tourneys, the only other thing we’d like to see is possibly a few more pairs added, although streamlining operations can also be a choice, and a feature and not necessarily a flaw, and allows them to focus more on liquidity. Right now Bybit offers BTC, ETH, EOS and XRP perpetuals.

All in all, we believe Bybit to be the best up and coming derivatives exchange, with a concrete shot a becoming number one if they expand their offering and continue with their innovative approach.