Bybit Unveils New Cryptocurrency Derivatives Exchange To Challenge Bitmex

Bybit Unveils New Cryptocurrency Derivatives Exchange To Challenge Bitmex

Fierce Competition in the Cryptocurrency markets is no strange to any of us. Take for example, In the old days when Bitfinex was ruling the Bitcoin trading war, and Binance was considered a low volume Chinese exchange.

Bitcoin platforms keep falling and rising at a rapid pace. New competitors are always on the verge of challenging old long-reigning kings. And the constant battle to remain at the top keeps getting harder.

Ben Zhou, Co-Founder at Bybit exchange, wants to claim Arthur Hayes, CEO of Bitmex, trading derivative throne.

With a staggering Bitcoin & Ethereum volume, which increased more than 20 folds during the recent Bitcoin rally, Ben Zhou may have a chance.

What is Bybit’s secret sauce?

Are we going to see Arthur and Bitmex fall to the new kids on the block like Ben and Bybit from Singapore?

Let’s try to understand together.

Bybit is currently trading $341.32M worth of Bitcoin in Volume, compare to Bitmex astounding $9.37B.

While Bybit volume grew by more than 20 times, Bitmex volume has remained stale.

Bybit Total Visits grew to 165.68K with 179% increase over the last month, while Bitmex is sitting with Total Visits of 10.09M, a 16.45% increase only.

The main reasons behind Bybit recent success have to do with its core values and innovation:

• Offering State of the art matching engine with up to 100,000 TP/s (which is roughly x10 Industry speed)
• 24/7 Service live chat with professional multilingual Customer Support.
• Cold Wallet System storing all assets
• Manual withdrawals processing up to 3 times a day (comparing to Bitmex once a day).
• No server downtimes or ridiculous overloads.

While Arthur Hayes and Bitmex will offer you a 10% fee Discount for 6 months,

Bybit will offer you

• Free 10$ Trading Bonus in bitcoin for registration.
• Additional Free 50$ Trading Bonus for 0.2 bitcoin deposit.
• Trading competition with a dynamic prize pool — The more participants, the bigger the prize pool is.
• All users open eligible participation in any of the bonuses.
• The top prize pool is $500,000 and registration will end by May 15th, 2019.

Will Ben Zhou claim the Derivative Throne?

Sign up to Bybit and find out yourself

Published at Sun, 12 May 2019 12:58:58 +0000