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Bybit has a new promotion that allows users to grab a stake in a pool of 200,000 USDT. Not many crypto exchanges give out that much in rewards, especially in a bear market. How to benefit from ByBit’s derivatives promotion? In this article, we talk about the new ByBit promotion and teach you how to participate in their newest tournament which allows you to grab up to 200,000 USDT in bonuses.

What is ByBit Crypto exchange?

One of the cryptocurrency exchanges that is expanding quickly is Bybit. Since this exchange’s launch in March 2018, it has served more than 2 million consumers. You can begin trading perpetual contracts after completing the registration process. Various cryptocurrencies can be traded in pairs against the US dollar. Ripple, Ethereum, EOS, and Bitcoin are the current cryptos. Market participants’ holdings are not time-limited with perpetual contracts.

The success of Bybit is attributed to its user-friendly platform and high-leverage products, which have a 100x potential. But be careful, for leverage has two sides. If the market swings in your favor, you may earn a lot of money, but you could also lose a lot of money.

Is ByBit a Safe Exchange?

Since Bybit has been on the market for over 4 years, we are compelled to recognize this accomplishment. Any business that has survived for two years or more is definitely on the right track.

The cryptocurrencies of its customers are further kept offline by this exchange in cold storage wallets. Therefore, they won’t be accessible online to hackers and other intruders. In order to prevent hackers from making transfers on behalf of legitimate clients, the business routinely examines each withdrawal request.

Is ByBit a Good Exchange?

ByBit is one of the worthy exchanges that offer a solid crypto trading experience. Below is a list of pros:

  • For a new user, no KYC is required.
  • It is simple to get started trading.
  • To log in and trade, there is a mobile app alternative as well.
  • Bybit offers enticing trading fees, market maker reimbursement, and exceptionally high leverage.
  • It is among the top exchanges for the most trading in cryptocurrency derivatives.
  • Order types include limit orders, partial orders, conditional orders, and market orders.
  • Has an Insurance Fund that would compensate losses for any mishap

ByBit Promotion: Derivatives 15-day Tournament

What is it?

ByBit is targeting new users that register any day before the 30th of December 2022. If you happen to open an account with ByBit before then, you qualify to enter a prize pool of up to 200,000 USDT by simply trading derivatives with ByBit. The current prize pool at the time of writing is 120,000 USDT.

How to Participate?

The rules to participate in the ByBit promotion are quite simple:

  1. Register for the event while having at least $200 in your Bybit Derivatives account
  2. Trade any Derivatives contract and you’ll be ranked based on P&L (%)
  3. Hit a trading volume of $80,000 or more on any Derivatives contracts during the event period