Blog | Cryptocurrency Exchange
ByBit Clone Script With Advanced Trading Features, API’s and Plug-Ins
Explore here the ways to Start an Exchange Platform like Bybit
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Bybit clone script
Bybit Clone Script is a Customizable, White Label website script with all the default features of bybit. By making use of it one can easily build an exchange platform and the interesting thing is, that it works like a twining website of Bybit!
Bitdeal is the leading Cryptocurrency Exchange and Blockchain Development Company provides Standard Cryptocurrency Exchange Clone Scripts such as Binance Clone Script, Localbitcoins Clone Script, Bybit Clone Script, etc
Our innovative team dig deep all the trending technologies and take care of every single step in the project development to deploy Our best to the customers
What is Bybit?
Bybit is a Cryptocurrency Derivative Exchange commenced in the year 2018 which has its headquarters in Singapore. It supports BTC, ETH, EOS, and XRP.
Highly Skilled Professionals from the Forex industry, investment banking, Early blockchain adopters have founded this team with the supreme goal to make a revolution in the cryptocurrency market.
Updated features of Bybit
Perpetual Contracts
Perpetual Contract is a kind of contract with no expiry date which is considered as the long term usage for traders that increases the opportunities of financial gain.
Business people say that Perpetual Contract is the middle term between spot trading and future trading. Spot trading requires instant payment and in the case of future trading, payment is done on a particular date in the future.
Dual Price Mechanism
Dual Price Mechanism is a spectacular idea to safeguard traders from Market Manipulation.
Well, What is Market Manipulation?
Market Manipulation is the bitter truth in Crypto Ecosystem. It is the act of degrading the price of exchange for personal gain. Such unpredictable fluctuations in the Price is a hazard for traders and results in unfair trading
So, bybit introduces Dual mechanism.
Many Exchange Platforms use Last traded Price as the trigger for liquidation where Bybit fixes prize by analyzing global spot index price thus preventing traders from market manipulation
Mark to market(MTM)
The initial methodology used to spot the last trading price to the spot price is called ”Funding”. Funding is exchanged every 8 hours, thus making the last traded price marked to market every 8 hours.
Flexible leverage up to 100X
For Perpetual Contracts, Bybit provides 100X leverage where traders can adjust the leverage and position at any time that reduces the risk and provides a rich user experience
Contract loss mechanism
The contract loss mechanism offers solutions incase of failure such as bankrupt. Bybit uses Auto-Deleverage Mechanism where all the traders are listed from high-profit ratio and top leverages, the traders from the top of the list have to de-leverage first to compensate the loss.
High lights
1. Bybit games
Bybit has announced the game BTC BRAWL that is the global trading competition where the participants have to choose the team and to start trade. It offers price up to 100 BTC
2. Coin swap facility
Bybit has recently launched this facility online that allows users to switch from one crypto to another crypto for trading within a few clicks
3.Consensus Invest 2018
On November 27, Bybit sponsored and Participate in Consensus Invest 2018 which is organized by Coindesk
4. Security
It provides high security hierarchical cold wallet which stores digital assets
5.Users
Bybit has massive 1,00,000 registered user
6. Matching Engine
Bybit’s matching engine is 10 times faster than any other industry matching engine. Matching can be done in 10 microseconds
7. Easy Registration
Bybit provides easy registration process that let users create a trading account within seconds
8. Restricted Countries
Because of Judiciary issues, Bybit restricted providing their service in countries such as America, Canada, Iran, North Korea, Sudan, China
Order Types
1. Market Order
In Market order, immediate execution happens and the price value is capricious. There are two types of the market order
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Buy Market Order
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Sell Market Order
2. Limit Order
Limit order safeguard money but it takes much execution time. The important thing in limit order is the preset price value will be lower than the last trading value otherwise it will be considered as a market order
3. Conditional order
In Conditional order, trading happens automatically if all the criteria match with each other
Do you Want to Start an Exchange Like Bybit?
Not a Big Deal, Bitdeal is for you!
Get our Bug free Bybit Clone Script and Start your own business
Why Bitdeal?
We Bitdeal, A team with CAN DO Sprit, known for providing the best services and never failed to implement new strategies and ideas for better results. We have more than 150 + developers and happy global customers.
Our Bybit Clone Script has features such as
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Automatic KYC/AML Verification
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Enhanced Trading Methods
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Two-factor authentication
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24 X 7 Instant live chat system
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Additional Security APIs
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User-friendly admin panel
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Attractive user-panel with additional features.
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Script with a Fast trading mechanism with low trading costs.
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Multi-tokens and multi cryptocurrency supports
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Multi-language supported to cover global traders and a lot more.
Get a free Demo! Start your Exchange
Disclaimer: Bitdeal never has control over the Bybit and their trade mark, also we are not doing any promotional activities for them . We are using the term "Bybit" for easy understanding and identification. Our products and services are not mean to harm any organization or individual.
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