Crypto Derivatives Exchange Bybit Launches Spot Trading

Bybit — a major cryptocurrency derivatives exchange — announced the launch of its spot trading platform.

What Happened: According to an announcement shared with Benzinga, Bybit's new spot trading platform has not market maker fees.

At first, it will include Bitcoin BTC/USD/USDT, Ethereum ETH/USD/USDT, XRP/USDT, and EOS/USDT trading pairs, more to be announced shortly.

Why It Matters: The spot market allows users to acquire actual cryptocurrencies at their real-time market price, as opposed to trading futures or other derivatives where they buy and sell "paper crypto."

In the spot market, ownership of cryptocurrencies is directly transferred from the seller to the buyer, with the exchange acting as the deal maker and settler.

ByBit claims to have experienced no overload or downtime during the whole bull market, contrary to what many leading crypto exchanges underwent during the same period.

According to recent reports, even the world's top crypto exchange Binance saw some of its users come together to sue the platform over losses that purportedly took place as a direct consequence of a service shortage in May.

Launched in March 2018, Bybit provides its customers with multi-lingual community support, application programming interface support, and now spot trading.