Danda Thor

Jun 7, 2022

12 min read

AMA RECAP : CRYPTO MALLU CLUB x BYBIT INDIA

Venue : @CryptoMalluClub

Date : 30th May 2022

Time : 3:00 PM UTC

SEGMENT 1 : INTRODUCTION SEGMENT

Can you please give us a brief introduction of Bybit?

“Bybit is a cryptocurrency exchange established in March 2018 to offer a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class.

Bybit’s founder and CEO, Ben Zhou, was formerly from XM, one of the world’s largest forex and CFD trading brokerage firms. The company comprises professionals from investment banks, tech firms, the forex industry, and early adopters of blockchain. The development team includes talents from Morgan Stanley, Baidu, Alibaba, and Tencent.

Our core values define us. We listen, care, and improve to create a faster, fairer, and more humane trading environment for our users.

As of today, Bybit is one of the most trusted, reliable, and transparent cryptocurrency derivatives platforms in the space.”

2.How Bybit is helping Indian community and Inidan crypto enthusiastists to adapt crypto ecosystem?

Basically, Bybit India is about spreading awareness and providing genuine information/ guidance towards cryptocurrency enthusiasts of India rather than spreading marketing staff.

Being from the crypto industry, you already probably understand and agree that Rs 100 is not gonna make you a millionaire. Rather than that, you could utilize your time to make more money, receive genuine rewards from a supportive exchange and community, gain knowledge and apply all these rewards, knowledge and confidence to make more money which will probably lead you towards your financial freedom. There is no guarantee but all these could make your chance of success higher and higher. We want to be this stair at Bybit India while providing you the road through Bybit, one of the leading exchanges worldwide.

Bybit is really supportive to the India community and we intend to support and grow the community. We are organizing events, learning sessions and offers to support it. We deeply wish to do more with time.

For example, each week we have events like Quiz which makes you learn more while earning up to 50$ bonus. We also have weekly Price prediction and Weekly News to keep the community up to date with the latest news and hot trends in crypto. You can also learn to prepare your own trading chart, learn to decide your own trading strategy etc. while getting rewards.

Apart from it, we have a popular BYOB Campaign- where you can invite your friends to join our Telegram group and social media to earn up to Rs 80,000 or win iPhone 13, One Plus and many more.

These are just our community event examples, we have the world’s largest trading competition WSOT to win $8,000,000 prize pool and countless others.

To learn more and earn more, there are many more events like this daily in the community. Let’s join @bybitindian today.

3.We have heard a lot about WSOT, Can you please give us more information on WSOT?

Bybit’s World Series of Trading (WSOT) is no doubt the best trading competition in the world. Players will compete in the world’s largest crypto trading tournament for a share of the record-breaking prize pool consisting of up to 8 million USDT, non-fungible tokens (NFTs) and other perks and giveaways. To champion crypto as a force for empowerment for girls’ education, through the flagship event, Bybit is also donating $400,000 in Bitcoin to UNICEF…

Doubling the prize pool to up to 8 million USDT this year for three tracks — Solo Race, Squad Race and Speed Zone Loot, WSOT 2022, we are all set to entertain all the Crypto traders and lovers worldwide.

As our CEO said “WSOT this year is all about racing to the next level. We want to encourage gamers, traders, and teams to join us in a spirit of competition and distinguish themselves at the world’s greatest crypto trading tournament. We also want to use this opportunity to amplify the positive impact of crypto: improving financial literacy and financial inclusion, and putting wealth back in the hands of the common people.”

Please join us, have fun and earn from the best, why to compromise?

Sign up today, Become a squad leader or go solo and win big: https://go.bybit.com/e/7d5mjExRmqb

4.Can you please let us know about referral program of Bybit? How can someone become Bybit Affiliate as well?

Unlike Other Exchanges Providing only trading fees discount for referral invites , Bybit has 2 dedicated program for it’s users as part of the referral program. One is Referral program for the private clients , where referee and referrer will get 20 USDT Bonus each if they have full filled the mentioned criteria.Also The other referral program is a affiliate program for Institutions/Influencers/Brokers where they will get up to 30 Percent Trading Fee Commission which can be withdrawed anytime.And If you wanna become one of our affiliates Please head to https://affiliates.bybit.com/v2/en-US/ and apply , Our Team will reach you out

5.Can you please tell us about Bybit NFT Marketplace?

As we officially say “The Bybit NFT Marketplace is your one-stop destination for listing and trading NFTs. The NFTs provided cover digital art, collectibles, GameFi, the metaverse, and more.”

As a global leader of Decentralization, we want to protect our users and guide the users to start with the best. We list the best of the best projects so that our users can enjoy the NFT and Web3.0

Along with this, You can receive a Mystery box and many more to make your NFT and Web3.0 experience truly memorable.

RACA, Kishu Kingdom, Monster galaxy are some of our listed projects examples.

Also, please don’t forget to list yourself for ‘ Monaco 2022 Playseat auction”….

Here are few advantages of Bybit NFT Marketplace among many others:

1. Get early access to the best projects
2. International NFT experience from the creators worldwide
3. Zero transaction fees: No extra fees certainly make it more interesting.

Want to know more? Check here: https://www.bybit.com/en-US/nft/

SEGMENT 2: TWITTER SEGMENT

1.How are you planning to onboard and and attract non crypto users and in making more people aware of this project?

We at Bybit India want to support the mission to spread maximum support towards all new users to pave their way into the crypto ecosystem.

We believe in three things:

A) Excellence: We are focussing daily to bring the best trading experience by bringing the best quality site/ app
B) Listen care and improve: We love to listen to our users, We collect feedbacks and present us upto the users expectations
C) Meet the reality: Rather than focussing on marketing staff only, we guide users through our community that helps them to ‘Learn and Earn’ which helps in their crypto journey.

We are for all, starting from a pro trader to a novice user, We try to live and breathe with the expectations of our users who are the most important for us.

The Renaissance is often marked as he transition from the Middle Ages to modernity. We are in a transition too where there are millions of users stepping their way into crypto, thousands of developers researching more and more to make the decentralisation advanced. Its all about freedom to decide, by the people and for the people.

Being a global leader, Bybit is supporting with its best ability to bring the crypto adoption. Lets say we don’t want to leave a single user behind who feels they will love to experience the freedom through decentralization.

2.I discovered that I can earn TRVL tokens by staking BIT tokens in the Bybit launch pool. My question is, can I unstake my BIT at any time? Is there a price for staking and unstaking on Bybit Launchpool?

Right Now TRVL pool for staking have ended . Bybit Launchpool provides a free way to stake and earn tokens. You can unstack your tokens at any time, and the number of tokens you earn is proportional to the number of tokens you stake in the pool. You can earn your staking cash, fresh tokens at the same time.

3.What criteria are you looking for to list a token on the BibitExchange?

Being a global leader in the cryptocurrency space, Bybit looks at the project quality. There are separate parameters for it. Our team tracks the progress of the project once it passes the initial review.

If a project qualifies after it, then it gets listed without any listing fees .

We also have Byvotes, a product that allows Bybit users to vote for their favorite projects to be listed on Bybit. Users who vote for the elected project will share the campaign rewards provided by the projects in advance. Bybit will choose 2–6 projects from a variety of categories and genres to vote for each session. During the voting period, Bybit users can use their voting voucher to vote for their favorite projects. The project with the highest number of votes will be listed in the Innovation Zone under Spot Trading. Users who have voted for the winning project will receive the rewards in their Spot Account within three hours after the results are announced.

Please note that its available only for users who have completed their verification.

4.One of the features that interest me in Bybit Exchange is the ByFi center in which it is said to be the gateway of Cloud mining. So, can you tell us how does this feature works in your platform? How does the Cloud mining being implemented in Bybit?

ByFi Center (Bybit Earn) is Bybit’s asset management platform. It helps both new and veteran traders grow their crypto assets easily.

To give an example, Flexible staking, allows traders to stake BTC, ETH, USDT, and USDC to earn stable and guaranteed yields. Participants will receive yield every day for their staked tokens.

Bybit Launchpool allows you to stake and earn tokens for free. The tokens you’ve staked can be unstaked anytime.

We have also added Liquidity mining, Liquidity Mining refers to liquidity pools that are based on a revamped automated market maker (AMM) model. You can add liquidity to earn yield derived from trading fees. You can also add leverage to increase your share of the pool and maximize your yield.

Similarly we have Bybit Savings, Dual Asset and DeFi Mining.

Please learn more from here to start your journey today itself: https://www.bybit.com/en-US/earn/home/

On the other hand, Bybit Cloud mining is the practice of utilizing a remote data center with shared computing power to mine cryptocurrency. You can purchase hashing power from Bybit to mine crypto assets without having to run your own hardware.

If you see the reviews, “ Bybit is one of the safer options to choose from. The relatively low entry price barrier is also a big plus. You can spend $100 to sign up and try out the service before investing more capital. You also get several options to choose from when it comes to the mining hardware and hashrate.” The reviews explain why the products of Bybit are always up to the mark.

Please visit here to learn more: https://www.bybit.com/en-US/earn/vip-cloud-mining/

Hoping I have explained in details, Please feel free to ask us in our Bybit India Telegram community if you have any questions. We would be happy to chat with you whole day to learn together along with our community.

5. What is the difference between bybit and FTX and binance? . What are the advantages of bybit over the above platforms? What is the maximum leverage on the bybit platform?

Again thanks for giving me the opportunity to share why we are different from most. Undoubtedly Bybit is one of the best exchanges without any doubt.

The advantages of Bybit are:

A) Upto 100X leverage on BTC and ETH and easy 50x leverage for others as well
B) The high volume and liquidity is really great compared to most of the exchanges
C) A maker fee of -0.025% and taker fee of 0.075%
D) Bybit doesn’t charge a deposit fee.
E) Advanced charting platform
F) Highly intuitive and easy-to-use mobile app
G) Multiple order types, including limit, market, stop-loss, etc.
H) Insurance fund to cover your losses
I) Rapid trade speed

Bybit has a cutting-edge futures platform with 99.99% uptime and system functionality. In addition, it can process up to 100k transactions per second and seamlessly manage volume spikes. Professional traders can also use API keys to integrate the best trading bot services.

Last but not the least Bybit is the best exchange for supporting traders to learn with the maximum possible rewards and events.Also Don’t forget to join @bybitindian to learn and earn , where you could get bonus daily by participating in local community events and learning about crypto and bybit in depth. Please try Bybit today and let us know. Never forget to earn up to $1000 in reward bonus as well to start your crypto journey well

SEGMENT 3 : LIVE Q & A

Can Bybit exchange have any special Plans for India in Crypto market?

Bybit is really supportive to India as mentioned.

We have a plan to contribute towards the crypto mass adoption in India by providing real learning and insights rather than only marketing.

Here is how we are contributing:

1. Bringing various offers through our platform to our users
2. Organising various events like BYOB, Quiz etc. to help you earn through very simple tasks while you are helping your friends to join the crypto revolution

3. Learn and earn events like Crypto price prediction, prepare and share TA etc.

4. Learn from the community together, you don’t have to feel alone

5. Bybit students program to educate all the college students about the financial revolution and Web3.0

Please join our India Telegram group, follow us on Twitter and Instagram to stay updated

Can you simply explain the process of how to get started with #BYBIT_Exchange and start Trading?
Do I need to KYC?
Is there any Rewards for new sign up & refferal income ?

Bybit offers you three types of trading products: Spot Trading, Derivatives Trading and Decentralized Finance.

For Spot, please click on spot on Bybit app/ website.

you can see all trading pairs, as well as the Last Traded Price (USDT) and 24-hour change percentage of the corresponding trading pairs. To quickly find the trading pair you desire, please directly enter the trading pair you want to view in the search box.

Now enter your buy amount and expected price.

You can also choose to buy at market order where your order price may vary a little bit

Binance, Kucoin, OKEx and many more centralized crypto trading platfroms had developed their own native networks and issue tokens/coins as the primary coin to be used. Does ByBit has any plan to create its own blockchain/network too?

Hoping you want to join right away, please check this offer to join before tomorrow and get upto $60:

https://www.bybit.com/en-us/promo/global/register-and-earn

Apart from that we always have offers for new users.

Could you please tell me the prerequisites for being a recognized merchant on ByBit’s P2P marketplace? Is it necessary to authenticate our account in order to become a P2P merchant?

Yes we are currently recruiting P2P merchants.
Eligible merchants can earn generous commission every 2 weeks.

It’s simple, you have to post at least two ads on our P2P Trading platform, including 1 selling USDT. The ad selling USDT must list an available crypto volume worth at least 300 USDT.

To qualify for the commission, do ensure that your ads meet these requirements:

The selling price of your USDT must be competitive

The ads must support payment via local bank cards or other popular local payment methods

The ads must be online for at least 50 hours every week and online for at least six (6) hours each day from Monday to Friday

Additionally, within 7 days, your completed order volume needs to be greater than 20% of the total P2P Trading completed order volume.

Are there Tutorials or Instructions for the community to understand more about Bybit, and does your platform accept feedback from the community?

Well yeah In order to learn more about we have a dedicated help center (https://help.bybit.com/hc/en-us)where you could get more details about bybit exchange and the products offered by us apart from that we have a 24*7 multi lingual customer support where you could seek help to understand the programs associated with Bybit .Also inorder to learn more about crypto we have bybit learn (https://learn.bybit.com/) to get you more familiar with crypto. And we accept feedback from the community itself (https://t.me/BybitIndian/615846) , where the best feedbacks are selected weekly and can get a bonus in usdt

Follow BYBIT here for latest updates;

Website: https://www.bybit.com/
Telegram : https://t.me/BybitIndian
Twitter : https://twitter.com/bybit_india

Follow CRYPTO MALLU CLUB:

Group : https://t.me/CryptoMalluclub
Channel : https://t.me/@CryptoMallu_Club
Twitter : https://twitter.com/CryptomalluC

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