How Suitable is Bybit for Beginners?

Bybit is one of the fastest-growing crypto derivatives exchanges and has made its mark in the crypto industry. It is one of the top platforms used by crypto traders, especially margin traders. However, an important question to address is regarding its suitability for beginners.

Mentioned below are some of the aspects that highlight how suitable Bybit is for beginners.

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User-friendly Interface

As compared to several other cryptocurrency exchanges in the market, Bybit is far user-friendlier.

Choosing an exchange that offers an impressive user experience can make crypto investing and trading simpler and less stressful.  

Customer Support

The customer support offered by Bybit is a prominent attribute and one of several reasons why it grabs the attention of a vast audience. This crypto trading platform offers around-the-clock customer support that helps new users in tackling challenges and avoid unnecessary risks.

The customer service agents working for Bybit are experienced, multilingual and quick to respond.

Prioritizes Safety

Bybit is one of the safest cryptocurrency exchanges in the market. It prioritizes the security of the users by implementing the use of technologically advanced security protocols. The security offered by Bybit has never been compromised and remains one of its most impressive attributes.

Transparent Fee Structure

Unlike some other crypto exchanges in the market, Bybit charges one of the lowest and most transparent fee structures.

The straightforward fee structure includes the trading fee, based on the market maker and taker fee model. Here are the details:

  • 0.02% / -0.02% funding rate
  • 0.0005 BTC withdrawal fee
  • -0.025% trading fee for market makers
  • 0.075% trading fee for market takers

Copy Trading Feature

Bybit is a powerful and stable trading platform and is one of the most suitable ones for experienced and inexperienced traders alike. Thanks to the availability of its new copy trading feature, new users can easily start trading crypto.

Copy trading, as the term suggests, allows traders to choose an experienced trader from a vast list and automatically copy their trades. It is not specifically introduced for the new traders and can be used by all.

Our brief Bybit copy trading guide provides more details about this feature.

Is Bybit suitable for Beginners? Conclusion!

The features offered by the Bybit exchange make crypto trading easier for every user, whether they have any prior experience or not. The details mentioned above can help shed some light on how suitable the trading platform is for beginners.

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