Q: What is Bybit?
A: Bybit is a cryptocurrency derivatives exchange platform that allows users to trade various digital assets, including Bitcoin, Ethereum, and other altcoins.
Q: How does Bybit work?
A: Bybit operates as a trading platform where users can enter into leveraged positions on cryptocurrencies. Users can trade contracts like perpetual contracts and futures contracts, profiting from price movements without actually owning the underlying asset.
Q: What is the Bybit Referral Program?
A: The Bybit Referral Program is an incentive program that allows you to earn commissions by inviting friends to join Bybit and participate in program tasks. When your referrals meet certain criteria, both you and your referral will receive rewards.
Q: How can I participate in the Bybit Referral Program?
A: To participate, you need to sign up for a Bybit account and obtain your unique referral link or code. You can then invite your friends to sign up using your referral link or code.
Q: What are the rewards for referring friends to Bybit?
A: For each qualified referral, both you and your referral will receive rewards. Currently, there are three types of rewards:
Invite Friends to Deposit: If your friend signs up using your referral link and deposits at least $100 worth of assets within seven days, both of you will receive a 10 USDT reward.
Referee Trade: If your friend trades at least $500 within 30 days of signing up, both of you will receive a 15 USDT reward.
Trade More, Earn More: When your referee accumulates a trading volume of at least $10,000, both of you will receive a Mystery Box worth up to 1,000 USDT.
Q: What is referral code for Bybit?
A: Bybit referral code is YZAVJY.
Q: How long does the Bybit Referral Program last?
A: The Bybit Referral Program is a long-term incentive program that has been ongoing since November 30, 2022, at 10AM UTC. Currently, there is no official end date for the program. However, Bybit will notify users well in advance if the program is going to end.
Q: Is there a limit to the number of referrals I can make?
A: There is no specific limit to the number of referrals you can make. As long as the program is active, you can continue inviting friends to join Bybit using your referral link or code.
Q: How can I increase my commission rate?
A: Initially, your commission rate will be 20%. However, you can increase your commission rate by completing program tasks. The tasks to unlock higher commission rates are as follows:
To unlock a 25% commission rate, invite 5 qualified referrals.
To unlock a 30% commission rate, invite 100 qualified referrals or achieve at least $15 million in Derivatives trading volume through your referrals in a quarter. Note that the new commission rate will become effective the day after you meet the requirements.
Q: Can I participate in the Referral Program if I reside in Germany?
A: No, the Referral Program is not available to residents of Germany, as Bybit is not regulated or supervised in Germany and does not have a license under banking or finance laws in Germany.
Q: Can I refer myself or create multiple accounts to earn more rewards?
A: No, self-referrals and creating multiple accounts to exploit the referral program are strictly prohibited. Engaging in such activities may result in disqualification from the program and termination of associated accounts. Bybit reserves the right to take action against inappropriate or dishonest behavior.
Q: How are referral commissions calculated?
A: Referral commissions are derived from the net trading fees of your referees. Net trading fees are calculated as the trading fee minus bonuses, coupons, and other fee discounts. The commissions will be distributed daily at 12 AM UTC.
Q: What types of deposits are eligible for the program?
A: Eligible deposits include deposits of cryptocurrencies/tokens, fiat deposits, deposits via P2P Trading, and deposits via credit card payments.
Q: Are there any terms and conditions I should be aware of?
A: Yes, there are terms and conditions associated with the Bybit Referral Program. It's important to review and understand these terms and conditions, as they govern your participation in the program. Bybit reserves the right to amend the terms and conditions at any time without prior notice.
Q: Can I earn commissions from referrals who trade on different types of accounts?
Yes, you can earn commissions from referrals who trade on various types of accounts, including Subaccounts, Copy Trading accounts, Trading Bot accounts, MT4 accounts, and Unified Margin Accounts.
Q: Is Bybit a reliable platform?
A: Bybit has gained popularity and is considered a reputable platform in the cryptocurrency trading space. However, as with any investment or trading platform, it is important to conduct thorough research and exercise caution when trading on Bybit or any other exchange.
Q: Is Bybit available worldwide?
A: Yes, Bybit is available for users worldwide, with some exceptions due to regulatory restrictions in certain countries.
Q: What cryptocurrencies can be traded on Bybit?
A: Bybit supports trading for several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and more.
Q: Can I trade with leverage on Bybit?
A: Yes, Bybit offers leverage trading options. Users can trade with leverage on Bybit's platform, which allows them to open positions that exceed their account balance.
Q: What is the minimum deposit required on Bybit?
A: The minimum deposit amount required on Bybit can vary depending on the cryptocurrency you choose to trade. It is recommended to check Bybit's official website for the most up-to-date information on minimum deposit requirements.
Q: What are the fees on Bybit?
A: Bybit charges trading fees on executed trades. The fees vary depending on whether you are taking a position or providing liquidity to the order book. Detailed fee information can be found on Bybit's website.
Q: Is there a mobile app for Bybit?
A: Yes, Bybit provides a mobile app for both iOS and Android devices, allowing users to trade cryptocurrencies on the go.
Q: Is there a demo account available on Bybit?
A: Yes, Bybit offers a demo account feature that allows users to practice trading without using real funds. It can be a helpful tool for beginners to get familiar with the platform and trading strategies.
Q: Does Bybit provide customer support?
A: Yes, Bybit has a customer support team that can assist users with their inquiries or issues. Users can reach out to the support team through various channels, such as live chat or email.
Q: Is Bybit regulated?
A: Bybit is registered in multiple jurisdictions and follows applicable regulations in those jurisdictions. However, regulatory requirements may vary depending on the user's location, so it is essential to understand the regulations that apply to your specific region.
Q: Can I use Bybit if I am a resident of the United States?
A: Bybit restricts access to its platform for users from the United States due to regulatory reasons. Residents of the United States are not allowed to trade on Bybit.
Q: Does Bybit offer margin trading?
A: Bybit offers margin trading with the use of leverage. Users can trade with leverage, allowing them to amplify their potential profits or losses.
Q: How secure is Bybit?
A: Bybit implements various security measures to safeguard user funds and data. These include cold storage for the majority of user funds, two-factor authentication (2FA), withdrawal whitelist, and other security features. However, it's always important for users to practice good security habits and take necessary precautions on their end as well.