Bybit Mobile App Review

About Bybit Mobile App

Bybit mobile app is a platform for crypto derivative trading. As every second is crucial in derivative trade, bybit allows trading at a lightning fast pace. Bybit allows the remarkable feature of easy swaping and converting cryptocurrencies in bybit account.

Bybit allows trading in web based as well as mobile (android and iOS) based platforms. Bybit platforms are highly compact and enhanced and allows trading according to the needs of the trader.

Bybit is a cryptocurrency derivative exchange based in Singapore with expansion in over 80+ countries. Bybit is owned by ‘Bybit Fintech Limited’. It is a Peer to Peer cryptocurrency futures exchange. Bybit also provides upto 100x leverage on crypto trading.

This article is based on Bybit and Bybit mobile app.

Bybit Mobile App

Bybit has become a prominent name among crypto derivative traders over a short period of 2 years from its launch. Bybit app is developed by ‘Bybit Fintech limited’ for both android and iOS platforms. Traders are able to seamlessly trade bitcoin, ethereum, EOS and XRP through the app. The app is equipped with all essentials for crypto trading with interactive charts for enhanced performance.

Bybit permits fast deposit and withdrawals  using cryptocurrencies without involvement of any fiat currency in the process.

The android version of the bybit has an outstanding rating of 4.2/5. It has also been installed more than 50,000 times from the  Google Play Store. The iOS version of bybit app has a rating of 3.9/5 in Apple App Store.

Features of Bybit Mobile App

1. Bybit provides one of the best in class margin. It offers leverage upto 100x while crypto trading.
2. Bybit mobile app is equipped with all necessary features of trading which includes limit order, market order and stop loss.
3. Bybit app offers live interactive charts with number of technical indicators. The charts can be arranged based on  minute, hour, day, week and month for properly guiding the user. Bybit also allows its users to view the depth of top  orders in the market.
4. Bybit permits its users to deposit and withdraw their assets directly from bybit app. The process for adding and withdrawing funds is very easy and swift which saves time for traders.
5. Bybit app excels in terms of security, the data of users is stored in the encrypted form for safety. 2- factor authentication is required for logging in, into the app, it ensures more safety for the app.
6. Bybit app provides real time value of the portfolio in major cryptocurrency as well as in major fiat currencies for keeping a proper watch on the portfolio.
7. 24 – hour Live multilingual customer support is available in the Bybit app

Bybit Mobile App Compatibility

Bybit Mobile app is compatible with android as well as iOS platform.

• File Size – Bybit app has a size of 38 MB for its android version, while the iOS version has a size of 83.7 MB.
• OS Versions – Android version 4.4 or higher is required for functioning of Bybit app in the android device. iOS 10.0 or later is required for operating Bybit with iOS device.

Bybit Mobile App Pros & Cons

The pros and cons of using Bybit mobile app are:

Bybit Mobile App Pros

1. Bybit app is one of the best app for trading cryptocurrency with high transparency.
2. Efficient price alert with lock screen notification.
3. Bybit offers 100,000 TPS per contract, which ensures there is no lagging or overload.
4. Bybit allows up to 100x leverage on cryptocurrencies.
5. Bybit provides 2 – factor authentication for security of cryptos.
6. The speed for depositing and withdrawing funds is pretty impressive. The withdrawal of funds takes less than few hours to get reflected in the account.
7. Bybit offers ‘Auto Deleveraging’ tool for ensuring safety of trader based on their profit and leverage.
8. Bybit platform is SSL encrypted which prevents stealing of your data by any third party.

Bybit Mobile App Cons

1. Transaction and withdrawal charges are pretty high compared to some of its competitors.
2. Problems reported regarding failure in triggering of stop – loss in iOS version of the app.
3. Customer support takes longer time while investing and responding to issues of the user.

Conclusion

Bybit has emerged as a remarkable platform for crypto derivative traders. Bybit app is suitable for beginners as well as experienced traders. The interface is simple and ensures easy transactions with great flexibility in placing the orders.

Bybit is highly recommended especially for traders who trade mostly on leverage and can avail high risk in trading. Bybit allows trading in lighting speed which gives it extra edge for trading.

At the same time traders with low risk taking behavior must avoid taking high leverage tardes in bybit. The traders who trade with small and frequent trade can look for other alternatives due to high transaction and withdrawal cost.

Bugs have been reported in the bybit app, developers must try to solve the bugs. At the same time some basic functions are absent for iOS version, which must be looked upon.  Users can only trade with bybit bitcoin, bybit ethereum, bybit EOS, bybit XRP in the platform. Developers must try to incorporate some additional cryptocurrencies in the platform, which will be extremely beneficial and profitable for the users.

Bybit Mobile App FAQs

Q. Is the app free?

A. The app is free of cost, however you need to pay for transactions and withdrawal of money.

Q. Can I use the app without signing up?

A. Users are required to signup before using Bybit mobile app. Users are also advised to switch to 2-FA authentication for additional security.

Q. Which cryptocurrencies can be traded in Bybit?

A. Traders can trade bybit bitcoin, bybit ethereum, bybit EOS and bybit XRP.