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The potential of Bybit
Why Bybit has the potential to become one of the biggest platforms in the near future. We all see what is the most desired product in the trading sector of the crypto industry – high leverage trading. Exchanges like Binance adding it to their services. High potential platforms emerging and attracting big volume very fast like PrimeXBT and Bybit. But now we will focus on Bybit and explain why we think that it may have very big potential.
Leverage trading is not for everybody but platforms like Bybit make it accessible. You can trade safely even if you are not an experienced trader. The leverage design on Bybit is universal giving the best conditions for casual and advanced trading. From the start, Bybit attracted many people to its platform building up a significant trading volume while catching up to Bitmex – the biggest leverage trading platform.
The potential of Bybit
Considering that we are still very early on in the industry the potential of platforms like Bybit is big. To attracting big capital and volume to their platform and becoming something more. No one knows what will happen in the future but products like this one are going to become very big. Leverage is a very desired product as we are witnessing what is happening in the crypto industry.
Why is Bybit the next big thing?
First, it offers you the most desired design of how the leverage works. Taking the best from its competitors like Bitmex and adding more from itself. If you want to read a comparison between the two exchanges you can do it here. It also offers you a UI that is very nice with a very cool design perfect for your trading sessions. If you think that UI doesn’t matter, think again – this is very important. Bybit excels on all fronts proving that it has all the qualities to become very big. If you read our review you will understand why.
Of course, let’s be realistic the platform is not perfect as there is still more to be desired. But for the crypto dedicated traders, it may be almost perfect. A platform from this size is bound to roll out big innovative products at one point.
What makes a great trading platform?
Small things matter, they are those that may keep you more engaged and interested in a trading platform. A wide variety of instruments for trading is important to have. The choice is what matters here, the more choice you have the better. Having a good number of advanced order types can make the difference between loss and profit. Having different options for deposits and withdraws is very important and Bybit gives you this with the possibility to do that with 4 different cryptos. When you compare it to other leverage trading platforms where mostly you have only BTC, Bybit excels here. Of course, the lack of FIAT deposits is disappointing. But this may be different someday soon looking at the speed the crypto industry is developing.
On top of all of that, you need to add many other factors needed for a platform to be great. Liquidity, execution, stability, and security are important, very important. And all of this can be found on Bybit, which makes it a really great platform.
Good fee structure is also very important altogether with funding rates etc… If you want to know which leverage platforms have the best fee structure you can read here.
But what kind of potential is there?
The potential for Bybit to become really big is there. And considering the expertise of the team, you can rest assured that they can make something really important out of this trading platform. Thus becoming a trading hub for many traders alike. The potential to become one of the safest platforms for trading providing even more services in the near future. Usually, this is what companies like this do and if they want to stay ahead they need to innovate and offer more and more new products. Because competitors like PrimeXBT are also catching up really fast and Bitmex is not slowing down either.
This industry needs innovation and more platforms like Bybit. The market is still very tiny and the room for growth is big, thus imagine what valuation the exchanges may have in the coming years. Of course, it will not be only one platform to rule them all, there will be few as people have different preferences. Preferences towards UI design, towards liquidity, security etc… and available options.
Where will be Bybit in a few years?
If the platforms continue to develop at the same speed and innovate at the same time we are definitely going to see it bigger and better. I hope to see more trading options being developed and rolled out at some point. More deposit and withdrawal options is really a must, especially the option for Debit/Credit cards. People search for these things and all I can say that I hope that they get them.
Bybit is going to continue on its way to the top and considering the ease of use that it has with its UI design it is bound to conquer new peaks. I see many more users going to it in the coming year and becoming more established than it is now. Becoming a name worthy of recognition.