I have been working in the crypto market for many years and have tested dozens of exchanges. Today I want to talk about the Bybit exchange - one of the most convenient platforms for storing cryptocurrency, trading and participating in various promotions. Using an example, I will show you how to create an account, get bonuses, trade without risking your own funds and withdraw real money.
Creating an account on Bybit
The first step is registration . To receive bonuses after registration, you only need to follow the affiliate link , which is usually available in the video description or on the exchange website.
The registration process is simple:
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Choose the registration method - via phone or email.
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Enter your number or email address and come up with a strong password.
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Confirm the captcha and enter the code that came to your phone or email.
After that, you will have an account on the exchange and a crypto wallet , where you can deposit any cryptocurrency from other exchanges or buy digital assets directly on Bybit.
Cryptocurrency purchase and trading terminal
Bybit has a convenient section "Buy Cryptocurrency" where you can choose the amount, currency and payment method. After replenishing the funds, the opportunity to trade . The trading terminal supports a large list of coins, including BTC, ETH, USDT and many altcoins.
What is important for beginners: you don't have to risk your own assets . The exchange offers bonuses for new users, which you can use to open deals. This is a great way to start trading without risk.
Bonuses for new users
Bybit regularly holds promotions for new users. There is a section in the account called “My Rewards” where available tasks are displayed. Basic principles:
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Bonuses are not cumulative, only the maximum available amount is credited.
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Bonuses for tasks are usually awarded after the promotion ends (in 1–2 weeks).
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Tasks include: verification, account replenishment, and trading volume.
For example, the first task might require:
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Top up your balance by $1000.
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Pass verification.
The following tasks require a larger deposit and trading volume, for example: depositing $3,000 and trading $10,000. To fulfill the volume, you can use derivative transactions by opening a Long or Short position on BTC with leverage, and then closing the position to create the required volume.
Account verification
Verification on Bybit is standard:
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Select the country and type of document (ID card, driver's license, passport).
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Upload a photo of the document (front and back).
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Pass face verification using a webcam or manually.
After the application is processed (usually within 30 minutes), verification is confirmed and the user gains access to bonuses and additional features.
Using bonuses for trading
Bonuses on Bybit cannot be withdrawn immediately, but they can be used to trade futures . Profits received from transactions with bonus funds can already be withdrawn to your account.
My proven scheme:
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I choose a trading pair with high volatility.
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I open Long and Short simultaneously for the amount of bonuses.
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After a little hesitation, I close both deals.
This way, bonuses are converted into regular USDT, which can be sold or withdrawn to a card. This works even without active trading - the main thing is to make sure that one trade is not liquidated first.
Pros and cons of working with Bybit
Pros:
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The opportunity to receive bonuses of up to several thousand dollars.
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Large selection of cryptocurrencies for spot and futures trading.
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You can start trading without your own funds.
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Simple and clear interface, mobile application.
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The possibility of earning on derivatives and bonuses.
Cons:
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Bonuses cannot be withdrawn without prior trading.
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To receive large bonuses, you need to top up your account with significant amounts.
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The high volatility of futures can lead to losses if leverage is used incorrectly.
Typical mistakes of beginners
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They don't use the affiliate link and lose bonuses.
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They immediately deposit the entire deposit without insurance.
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They ignore trading volume requirements when receiving bonuses.
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They try to immediately withdraw bonuses without completing tasks.
Safety tips
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Use two-factor authentication (2FA) .
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Do not open large positions on unfamiliar pairs without analyzing volatility.
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Use cold wallets to store significant amounts.
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Regularly check the tasks in the "My Rewards" section so you don't miss new bonuses.
Frequently Asked Questions (FAQ)
Question: Is it possible to trade without verification?
Answer: Yes, but verification is required for bonuses and some activities.
Question: How to withdraw bonuses into real money?
Answer: By opening simultaneous Long and Short positions on futures, the profit can be withdrawn into USDT.
Question: Is it necessary to invest large amounts for bonuses?
Answer: For maximum bonuses, yes, but there are available tasks for $50–$350, which are within the reach of most users.
Question: What documents are suitable for verification?
Answer: ID card, passport, driver's license or residence permit (residence permit).
Conclusion
Bybit is one of the most convenient exchanges for beginners and experienced traders. You can store cryptocurrency , trade spot and futures , complete tasks and receive bonuses of up to several thousand dollars. The main thing is to correctly pass verification, follow risk management rules and use bonuses for a safe start in trading.
In my experience, this strategy allows you to quickly convert bonuses into real money and start earning without significant investments. If you are just starting out, Bybit is the best option for starting in the world of cryptocurrencies.