Bybit

Last updated
Bybit
Company type Private
Industry Cryptocurrency
Founded2018
FoundersBen Zhou
Headquarters
United Arab Emirates
Area served
Global
Products Cryptocurrency exchange, cryptocurrencies, NFT
Website website

Bybit is a Cryptocurrency exchange, [1] created in March 2018. [2] Bybit is headquartered in Dubai, United Arab Emirates. As of November 2024, Bybit is the 2nd largest Cryptocurrency exchange in the world. [3]

Contents

History

In March 2018, Ben Zhou founded Bybit. [4] Initially, Bybit started as a Cryptocurrency derivatives platform offering perpetual contracts on several cryptocurrency pairs. [5] Its operations span worldwide, excluding the United States, [6] mainland China, Singapore, Quebec (Canada), and some other jurisdictions. [7] [8] [9] Today, Bybit provides cryptocurrency trading, passive income products, an NFT marketplace, [10] a token issuance platform, and institutional services.

In November 2019, Bybit organized "BTC Brawl," a Bitcoin trading competition. [11] Since 2020, Bybit has held the annual World Trading Tournament (WSOT), [12] In November 2020, the German soccer team Borussia Dortmund signed a partnership with Bybit. [13]

In May 2021, Bybit launched the ByFi Center (now called Bybit Earn) to provide access to DeFi products. [14] [15] On July 15, 2021, Bybit began spot trading. [16] In August 2021, Bybit signed Esports sponsorships with NAVI, Virtus.pro, Astralis, and Alliance. In September, Bybit partnered with BitDAO (BIT) to launch Bybit Launchpad, aimed at KYC-compliant Bybit users. Bybit also partnered with identity verification provider Sumsub in July 2021 to enhance its identity verification capabilities. [17]

In October 2021, the total number of registered users worldwide exceeded 10 million. [18] [19] [20]

See also

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References

  1. ↑ "Bybit Review: Pros, Cons, and More | The Ascent by Motley Fool". The Motley Fool. 26 July 2021..
  2. ↑ "What to Consider About How to Buy Bitcoin in India". Programming Insider. 26 October 2021..
  3. ↑ "Top Cryptocurrency Exchanges Ranked By Volume". CoinMarketCap. Retrieved 2024-11-15.
  4. ↑ Harrison, Polly Jean (2021-07-26). "Bybit Announces Entrance into Crypto Spot Trading Market". The Fintech Times. Retrieved 2022-08-29.
  5. ↑ "Bybit adds ADA, DOT and UNI to its USDT margined offerings". hedgeweek.com. 19 March 2021..
  6. ↑ Osipovich, Alexander (30 July 2021). "U.S. Crypto Traders Evade Offshore Exchange Bans".
  7. ↑ "Crypto Derivatives Exchange Bybit Launches Spot Trading". Financial and Business News: Finance Magnates. 15 July 2021..
  8. ↑ "The Top 10 Crypto Exchanges With the Lowest Fees". MUO. 2022-01-10. Retrieved 2022-02-03..
  9. ↑ "Bybit Celebrates a Great Year, CEO Ben Zhou Teases What's Next By CoinQuora". Business News. 2021-12-11. Retrieved 2022-02-03..
  10. ↑ "BYBIT LAUNCHES NFT PLATFORM "WHILE SOME MAY BE SKEPTICAL OF THE INVESTMENT VALUE OF NFTS"". financefeeds.com. 2022-01-25..
  11. ↑ "Cryptocurrency Trading Contest Offers $1.8 Million Prize Fund". fxempire.com.
  12. ↑ "Cryptocurrency Exchange Bybit Now in Turkey". RayHaber | RaillyNews. 23 August 2021..
  13. ↑ "Borussia Dortmund joins hands with crypto trading platform Bybit | Goal.com". 2020-11-05. Retrieved 2022-08-29..
  14. ↑ "Crypto exchange Bybit unveils new branding, to offer derivatives, upgraded wallet, and more". 1Trade. 2021-07-04. Retrieved 2022-02-03..
  15. ↑ "Bybit to launch cloud mining to democratise Ethereum mining". thepaypers.com. 2021-05-05.
  16. ↑ Harrison, Polly Jean (2021-07-26). "Bybit Announces Entrance into Crypto Spot Trading Market". The Fintech Times. Retrieved 2023-02-24.
  17. ↑ "Bybit Taps Sumsub to Provide a Secure Trading Experience for 2mln Users". Financial IT.
  18. ↑ "Crypto derivatives trading exceeded spot in june as prices fell". Bloomberg. bloomberg.com. 2021-07-12. Retrieved 2022-02-03..
  19. ↑ "MEXC Global and ByBit join forces to create user base of 10 million people". CityAM. 2021-10-20. Retrieved 2022-02-03..
  20. ↑ "BYBIT LAUNCHES P2P TRANSACTIONS FOR FINANCIAL INCLUSION WHILE DISREGARDING REGULATORS". financefeeds.com. 2022-01-19..
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