French laws on digital assets are forcing some platforms to review their operations. As a result, Binance will soon suspend futures trading in France. Given that it is one of the most popular platforms on the market today, what about its users? Given the circumstances, a platform provides a quality service that can meet the expectations of users and merchants around the world.
Futures: Bye Bye Binance, Welcome… ByBit!
The cryptocurrency sector is volatile and brings its surprises every day. While Binance sits at the top of the exchange platform, French law has put the brakes on its operations in France. In fact, Changpeng Zhao Exchange will no longer offer futures trading to French users from August 2, 2022.
This news is far from encouraging for many users of the platform. So what happens to all the investors currently working on Binance? If CZ’s business ceases its futures business due to legislation, ByBit stands as one of the alternative derivatives platforms.
Founded in 2018, ByBit is a crypto exchange platform that boasts over 5 million users. Since its market launch, it has strived to put customers first through quality service.
Who is Bybit? Binance’s ideal competitor?
Bybit stands out in this first category. As mentioned earlier, the trading platform is relatively young. In the four years it has been operating, it has always ensured to keep the customer at the center of its operations. Ben ZhuBybit’s CEO quickly understood how to develop and compete in the crypto market.
In partnership with many companies, the platform has climbed the ranks to become the third largest crypto exchange in the world. Currently, it is behind Binance and OKX. Given all these features, there is no doubt that it will be able to replace Binance in futures trading.
As a result, investors who will be deprived of derivatives after the suspension of CZ Company’s operations in France will find all the practical products they need in Bybit. Nevertheless, it is essential to know the assets that make it a reliable platform.
Why trade futures on Bybit?
The proliferation of trading platforms is making users increasingly suspicious. What is the best exchange and how do you know that it is not a scam? Even though ByBit has already stood out, it’s still important to know what you’re getting into before signing up.
A complete interface and a solid system
Above all, investors are looking for a simple and easy-to-use platform. That’s exactly what Bybit offers. In fact, the exchange has a complete interface suitable for professionals and beginners. With a simple operation, they will be able to trade in 100 pairs of spots and about 100 pairs of derivatives.
Additionally, the platform is suitable for both institutional players and professionals. It has great market depth, reducing the impact of transactions on prices.
Thanks to a robust API, data is transmitted every 20 milliseconds. The platform has an ultra-efficient engine that protects the system from potential overload.
A complete and continuously innovative trading offering
Innovation is the key to technological evolution. As a result, we cannot evolve in a complex sector like cryptocurrency without a special emphasis on innovation. With this in mind, Bybit has a number of trading offers.
Among others, buying crypto in fiat, derivatives, NFTs and options. The platform makes it possibleAverage tradingfrom Launch padBut also Staking/Income. Note that currently, very few trading sites offer a complete range of products.
Covering the entire value chain is resource-intensive. Apart from the above mentioned offers, Bybit offers features like Copy trading.
A secure and transparent platform
Any crypto investment requires transparency and security. Bybit realized this and was quick to reinforce its reliability. As a result, its notoriety all over the world does not come from nowhere. Exchange now benefits from the best security standards for many processes An example is the SSL technology that makes it possible to secure communications and avoid the risk of scams.
The platform uses a multi-signature process to avoid the risk of cyber attacks. The latter makes it possible to protect cryptos during transactions from one wallet to another. Additionally, Bybit holds almost all cryptocurrencies together cold wallet. By avoiding the use of active wallets, the platform ensures that hacking is prevented.
A platform focused on its community
A business is nothing without a strong, efficient and active community. To promote its proximity to its customers, Bybit has taken several directions. Which includes numerous promotions and bonuses. But also, competitions and trading events, as well as an integrated voting system.
To always be close to its customers, the exchange has a responsive customer service, available 24 hours a day, 7 days a week in different languages. Through BitDAO, Bybit empowers its holders to make decisions about the platform’s future plans.
Differences between Bybit and other platforms
The growth of exchanges is confusing the cryptosphere. Indeed, investment requires trust and security, choosing the best trading site is a complex task. Therefore, to help you differentiate between them, here is a comparison of three popular platforms for trading futures.
Bybit comparison
Bybit as well as other platforms are very popular and provide quality services. However, there are undeniable differences between them which are their strengths and weaknesses. For example, Bybit is not registered with the AMF, but this is not a problem for French users. Furthermore, the platform is regulated in other countries such as Australia.
As a result, and unlike other platforms, Bybit offers its users the possibility to remain anonymous. The platform specifically does not rely on traditional KYC systems with investor identity disclosure. It campaigns to ensure privacy for all its users. This option allows users to buy crypto almost instantly while guaranteeing their anonymity.
Bybit benefits
The main difference between platforms often lies in the amount of trading fees, which are much lower on Bybit. Moreover, the exchange not only works very well, but provides more transparency and efficiency. Because other platforms offer less liquidity in altcoin trading pairs.
Why? Because platforms are often controlled by big market makers Crypto who do not hesitate to take a stand against users. Meanwhile, Bybit is associated with many market players who confirm this market creation.
Bybit also offers a welcome bonus and unlike other platforms has support for its community in French. Furthermore, the function of Staking/Income More important and new pairs and cryptos are often available in advance on Bybit.
Bybit is a platform whose reputation is second to none. Derivatives suspension by Binance opens a door to France’s futures market. Given all the resources available on the trading site, it is undeniable that Bybit is positioned as a worthy alternative to the CZ site. Every user can now discover video content to train and understand how the platform works.
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The world is changing and adaptation is the best weapon to survive in this volatile universe. As a crypto community manager at base, I am interested in everything directly or indirectly related to blockchain and its derivatives. There is nothing better than writing articles that are informative and entertaining at the same time, to share my experience and inform a field that fascinates me.
