What is a Bybit referral code?
If you enter the referral code 34899 when registering as a Bybit Exchange member, you can enjoy various membership benefits.
ByBit (Binance) is a cryptocurrency exchange, a Referral ID is a unique identifier used when users invite new users via a referral link or code. When a new user invited through a referral ID signs up and starts trading, a certain benefit is given to the inviter.
Here’s why signing up with a referral code is better than not applying one:
- Rewards Benefits: When you sign up using a referral code, certain benefits are given to both the referrer and the subscriber. In general, there may be benefits such as transaction fee discounts, bonus cryptocurrencies, and cash.
- Win-Win Situation: This is a win-win situation as the referral system provides benefits to both inviters and invitees. New users join new exchanges while receiving rewards, and referrals can save trading fees or earn bonuses.
- User Acquisition: Exchanges can acquire new users through a referral system. This is an effective way in terms of marketing, helping existing users voluntarily promote the exchange and attract more people.
- Social Network Influence: Users invited through the referral system may increase their invitations to other users through their social networks. This helps bring more users to the exchange.
However, the referral system operates according to the conditions and regulations set by the exchange, and in general, there may be some restrictions to prevent abuse. Users can refer to the exchange’s referral program to check and use its benefits and rules.
Bybit Exchange Features
ByBit is one of the world’s largest cryptocurrency exchanges, founded in 2017. The main function of the exchange is to trade cryptocurrencies, allowing users to buy, sell and exchange various digital assets. ByBit supports many cryptocurrencies and is one of the most popular exchanges due to its high trading volume.
The reasons we prefer Bybit over other exchanges include:
- Multiple cryptocurrencies: Bybit supports hundreds of cryptocurrencies, and users can trade a variety of digital assets. This helps investors construct a diversified portfolio.
- High trading volume: Bybit is one of the largest exchanges in the world, so trading volume is very high. It has the advantage of excellent liquidity and fast transaction processing.
- Security: Bybit maintains a high level of security and has various security features and procedures in place to protect users’ assets.
- User-friendly interface: ByBit provides a user-friendly and intuitive trading interface so even new users can start trading easily.
- Referral Program: Bybit operates a referral program to help users invite other users and earn rewards.
- Various services: Bybit provides various services other than trading, and you can use services such as deposits, loans, and staking.
For these reasons, many people prefer ByBit, and it is a widely used exchange among users participating in cryptocurrency trading. However, it is important for users to always choose an exchange considering reliability and security.
Sign up for Bybit Exchange
We will guide you through the process of registering on the Bybit Exchange and inserting the referral code as follows:
- Accessing the Bybit Exchange website: First, open a web browser and access the official website of the Bybit Exchange.
- Click the Sign Up button: Find and click the “Sign Up” button at the top right of the website.
- Enter referral code: In this step, you need to enter your referral code. A referral code is a referral code received from another user. Entering the code provides benefits to both the referrer and the invited user. If you have already received a referral code, enter that code. If not, a referral code may not be required, and you may sign up without a code.
- Security verification: A verification email will be sent to your email address, click the link to complete email verification.
- Set up 2-step verification (optional): We recommend setting up 2-step verification for added security. If you set up 2-step verification using the Google Authenticator app, additional security verification is required when logging in.
- Fund security settings (optional): After completing email verification and 2-step verification, we recommend setting a funds password to enhance the security of your funds.
- Deposit Funds: Upon successful registration, deposit crypto funds into your Bybit account to start trading. To do this, check your wallet address and send cryptocurrency to that address.
- Start Trading: Once funds are deposited, you can trade various cryptocurrencies on Bybit. Adapt the functions and interface of the exchange, trade the cryptocurrency of your choice and start investing.
You can follow the above steps to join the Bybit Exchange and proceed with the invitation process using the referral code.
Bybit fee information
Bybit Exchange fees are as follows:
Bybit VIP levels are as follows:
There are three main types of trading available on Bybit Exchange: Spot Trading, Futures Trading and Derivatives Trading.
- Spot Trading:
- Spot trading is the basic way to directly trade real cryptocurrencies. Users can exchange their cryptocurrencies for other cryptocurrencies, or buy or sell them for real money.
- ByBit supports spot trading for a variety of cryptocurrency pairs. Examples include BTC/USDT, ETH/BUSD, and BNB/BTC.
- Futures Trading:
- Futures trading is a method of trading cryptocurrencies at a fixed price at a specific point in the future. This allows you to hedge against price fluctuations and allows for leveraged trading.
- At ByBit, you can trade various cryptocurrency futures based on BTC, ETH, BNB, etc.
- Derivatives Trading:
- Derivatives trading is a method of trading cryptocurrencies through derivatives contracts such as Options and Perpetuals. This supports, for example, short term trading using leverage.
- At Bybit, you can trade various derivatives such as BTC and ETH.
About Fees: Fees on Bybit Exchange may vary slightly depending on the type of transaction. You may also benefit from commission discounts based on your trading activity and VIP status. However, on a general basis, we have the following fee structure:
- Spot trading: Bybit’s spot trading fee is normally 0.1% based on the volume of the trade. However, fees may be discounted depending on your VIP level.
- Futures Trading: For futures trading, fees may vary depending on the trade type and margin leverage. Fees are usually applied separately for maker orders and taker orders, and leverage can also affect fees.
- Derivatives trading: Derivatives trading has a similar fee structure to futures trading, with different fees applied for maker and taker orders.
Fee information can be found on the exchange website for accurate and current rates. Also, it is important to refer to the fee information provided by the exchange, as it may fluctuate depending on your trading activity or VIP level.