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How does Bybit support leverage trading? ByBit supports leveraged trading based on the price of the derivative you want to use.

Leverage trading is a slightly risky option, left for more experienced traders who can capitalize on what the platform offers to trade BTC/USD with 100x leverage. A combination of ETH, EOS, and XRP provides maximum leverage of up to 50x, which is still an attractive option for risk lovers. The platform offers higher leverage than regular trading platforms like Kraken or Binance but less than Primebit.

ByBit also features risk limit schemes on four supported cryptocurrencies, allowing for lower limits. Interest rates and calculated premiums and discounts cover financing costs.

Bybit uses a market maker/taker approach to its pricing, meaning the amount of fees you pay in terms of derivatives depends on the platform’s ability to support liquidity. In this case, a market maker will be entitled to a discount (at 0.025% for each trade). Otherwise, regular traders have to pay 0.075% per trade.

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Is Bybit a safe trading option? Bybit does not require you to go through Know-Your-Customer (KYC) procedures, so you will not be asked to submit ID documents or similar information for trading. Still, that hardly means the platform has security on the back burner. In addition to two-factor authentication (2FA) via email, SMS, and Google Authenticator, the platform will offer to store customer tokens in an array of offline (cold) wallets on a secure site.

The platform uses SSL encryption to power its communication engine; addresses and passwords required for transactions are fully encrypted. All withdrawal requests undergo multiple security checks before they are approved.

As of February 2020, the ByBit platform has yet to experience a security breach, which means the platform remains trusted and secure.

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Customer support and referrals Bybit doesn’t skimp on its customer support features, as its support resources are available around the clock, seven days a week. Support is available in multiple languages and includes a desk-based live chat function and email, although phone support is not currently available.

The platform has a well-established presence on social media, including Facebook, Instagram, Telegram and Reddit. Finally, ByBit’s referral program allows customers to earn the equivalent of 10 USD in BTC for every new trader they bring to the platform.

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