Should I open an account with the ByBit exchange in 2022?

Should I open an account with the ByBit exchange in 2022? 2021 is a pretty good year for crypto. Overall, everything has improved, even if there have been some not-so-smooth times. And of course, not all exchanges work well.

In just 3 years, ByBit has established itself as one of the 10 most popular brokers on the market with over 3 million customers and an average trading volume of 8 billion US dollars on its platform. Why is a young broker growing fast enough in the market?

ByBit is simple and easy to use

ByBit’s strength lies in the intuitiveness and simplicity of its platform. Clear interface; Any new trader can manipulate it with little effort. Seasoned traders won’t get bored either, as the broker offers advanced trading tools that allow them to better monitor market developments.

ByBit is safe

Some made fun of the hack that cost Bitmart $ 196 million. The broker paid the price and lost a lot of customers after that episode. These are also situations that every crypto exchange tries to avoid at all costs. And of course, how can a lucrative bait like ByBit not attract the attention of hackers where more than $ 8 billion is exchanged every day.

However, ByBit makes a highly secure security device. For example, to protect user funds, a hierarchical deterministic (HD) wallet is integrated on the platform. This wallet model ensures the security of every transaction by generating a private key from the master key. Simply put, it’s like entering a new password for every transaction.

Enjoy bonus packages on ByBit

Don’t think that the techiness of a cryptocurrency exchange will attract more than 3 million customers in 3 years. ByBit had to take out the checkbook to challenge the opponent. With $ 1,100 in rewards available to everyone, each user can only earn $ 1,100 on the platform.

The first compensation program on the platform are sponsorship awards. Users are paid for the people they invite to open accounts with Exchange. This program allows users to collect $ 500 in bonuses. The second program is to get the chores done. Traders are paid to perform small tasks on the platform. These missions can cost anywhere from $ 3 to $ 5, but you cannot get more than $ 600 in this program.

There are many other free bonus options on this platform but you will have to try harder. The ByBit affiliate program is a great way to generate passive income in the stock market. To take part in this program, you must have an extensive network of participants. For this reason, this program is only open to influencers, YouTubers and celebrities from social media.

Hopefully, with the information above, you have an answer to whether or not to open an account with ByBit.

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Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.