Bybit, the world’s second-largest crypto exchange, has announced a Christmas-themed festive event where users participate in a 100,000 USDT prize pool by completing tasks on the Bybit peer-to-peer (P2P) platform, as shared with Coindatacap on Friday, December 6.
The event will take place until December 25, 2024, and participating users can win prizes such as 1 BTC, 0.5 ETH, 0.5 SOL, USDT bonuses, and various other daily rewards.
Festive rewards part of an anniversary celebration
Holiday season festive rewards are the first part of Bybit’s celebration of the third anniversary of Bybit P2P, which will consist of three months of gifts and events.
This round of rewards will be followed by Bybit P2P’s exclusive New Year celebration, with the last round coinciding with the Bybit P2P third Anniversary event in 2025.
Joan Han, Sales and Marketing Director at Bybit, expressed the platform’s gratitude and invited the platform’s users to participate in the event:
“We are proud of Bybit P2P’s achievements in community building and user experience. As Bybit P2P turns three, we are taking a moment to show our gratitude to all our users for their trust and support. This holiday season, we invite our P2P users to keep an eye out for pleasant surprises as we triple for fun and the rewards.”
Entering its fourth year, Bybit P2P has reiterated its dedication to the crypto community and intent to reward its users’ loyalty to the platform.
key products of Bybit exchange
Spot Trading: The most basic function that every exchange must have. It is simply the direct buying and selling of different currencies, like BTC or ETH.
Margin Trading: Closely similar to Spot Trading. The only difference is that Margin Trading allows you to borrow more capital to leverage your position while Spot Trading does not.
Derivatives Trading: Financial contracts between two or more entities that have their values based on the performance of an underlying asset. On Bybit, this includes Inverse Perpetual (Futures), USDT (USDC) Perpetual, Options Contracts, and Leveraged Tokens.
Launchpad: A platform to conduct IEO (Initial Exchange Offering) for low and mid-cap crypto tokens.
Trading Bot: Provides a number of strategies, often automatically performed by bots, to make profits.
ByVotes: Bybit users can vote on the next coins to be listed on the exchange and earn airdrops.
Copy Trading: Make profits by copying strategies/trades from professional traders.
Bybit Savings: Earn passive income by depositing cryptocurrencies over a Fixed Term (a certain period of time) or Flexible Term (more diverse options), similar to earning savings via banks.
Dual Asset: A non-principal protected structured saving product with high yields, involving 2 different crypto tokens. The product has an optional callable feature designed to reduce the risk of the product in exchange for a lower yield.
Liquidity Mining: Provide liquidity to a pair of tokens on Bybit and earn yields through trading fees.
Launchpool: Stake and earn yields by temporarily locking up cryptocurrencies.
DeFi Mining: Earn yields by providing liquidity to Curve Finance (an AMM). Higher yields but higher risks.
NFT Marketplace: An NFT marketplace made originally by and for Bybit.
Charity: Donate cryptocurrencies to non-profit organizations.
Institutional Services: Sign up as an institution to receive special benefits.
Bybit Fees
Trading fees
It charges fees for spot and derivatives trading as follows:
Deposit and withdrawal fees
Similar to the majority of CEXs on the market, Bybit does not charge any deposit fees. However, there is a charge of withdrawal fees depending on the cryptocurrencies you’re withdrawing.
Other fees
There are some other fees for using its services.
NFT Marketplace fees: All sellers have to pay a 1% fee.
Leverage fees: 0.06% * leverage.
Funding fees: Funding rate * Position Value.
Bybit App Download
It has a mobile application on both iOs and Android. You can download their application using the links below:
iOs: apps.apple.com/us/app/bybit-app
Android: play.google.com/store/apps/bybitb
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