Bybit Adds Spot Trading to Its Derivative Exchange

One of the world’s largest cryptocurrency exchanges with over a $15 billion daily trading volume announces new spot trading.

Bybit launched their no-maker-fee spot trading on July 15th with an initial four trading pairs available and more to come.

So, what makes spot trading on Bybit so great? If you are new or experienced trader you can benefit from this type of instant buying and selling of crypto. Read to find out more.

Why Bybit is So Popular

First, let’s learn a little more about Bybit and why we are excited to use spot trading on this platform.

Created in March 2018, Bybit continuously adds new features, coins, and tools to make the user experience easy and efficient. Here are just a few of the exchange’s highlights and recent upgrades.

Ever-improving Interface
Cloud Mining
Rewards, Referral, and Affiliate Programs/Events
Future Contract Trading
Mobile App or Desktop Versions
Up to 100x Leverage Trading
Trading Bot Integrations
Risk Management Insurance Options
Security Features with Optional KYC

And of course, the most recent addition is Bybit’s spot trading option.

What is Spot Trading?

As the name implies, spot trading is “on the spot” buying and selling of crypto. It allows you to directly trade assets on the market with other traders.

Unlike, derivative trading, you own the coins instantly rather than holding a contract of the coin’s value for future ownership.

Benefits of Spot Trading

There are pros and cons to ever type of trading. But, here is what you will get if you decide to play around with spot trading.

You own the assets rather than a contract of the supposed value.
Assets can start earning staking or appreciation values.
Purchases are instance once the order is filled.
You can place limit, market, and conditional orders.

The main downside to spot trading is that your gains will be less and dependent on the market price after your purchase. Whereas in leverage trading you have the potential to increase your investment up to 100 times.

For example, if you spot trade Bitcoin when its market price is $35k, you may need to hold onto it for a while to see a ROI and with a volatile BTC market right now, the price is likely to drop. That is why buying with spot trading is a longterm trading strategy.

How to Spot Trade with Bybit

Another advantage of spot trading with Bybit is its simple process. Anyone new to crypto can buy coins instantly.

Here is a few easy steps to get started.

Go to the Bybit sign up page.
Enter your email address and create a password.
Use the verification code emailed to you to confirm your account.
Go to the Spot tab at the top of the page.
Choose either BTC, ETH, XRP, or EOS to purchase by depositing USD into your account.
Select your order price and click buy.
You can also sell one of these cryptos for USD.

Deposits and withdrawals additionally use your spot wallet for quicker transaction times.

Use Bybit to Track Your Investments

Once you use spot trading you will likely be hooked as a new crypto trader. Luckily, Bybit makes is easy to track the market anywhere. The Bybit app has the same features to monitor and trade coins so you can be sure to sell at the optimal time.

If you are new to trading, check out the Bybit Testnet to formularize your self and practice with all things crypto without risking real cash.