Crypto Exchange Bybit Rolls out Spot Crypto Trading Services

Bybit, the cryptocurrency derivatives exchange, is launching spot crypto trading services with the addition of pairs of Bitcoin (BTC), Ethereum (ETH), XRP, and EOS against Tether (USDT).

According to the exchange, the newly launched spot trading services will complement its existing derivatives platform as derivatives traders can efficiently hedge their positions. It is also trying to tap on the new crypto traders as most of them engage in spot trading rather than much riskier derivatives.

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Ben Zhou, co-founder and Chief Executive Officer at Bybit, commented, “It has been Bybit’s utmost privilege to have enjoyed the ardent support of our community and partners as we continue to grow and improve. We are excited to bring with us to spot trading the world-class liquidity and reliability derivatives clients have come to associate with Bybit.”

Additionally, Zhou also confirmed that Bybit will never charge any maker fees from spot crypto traders, but there will be a taker fee of 0.1 percent. And similar to its derivatives services, Bybit’s spot trading services will not be available in the United States, mainland China, Singapore, Quebec (Canada), and several other restricted jurisdictions.

Last month, Japan’s Financial Services Agency (FSA) has published a warning notice to Bybit Fintech Limited, saying that the exchange is not registered before the local authorities to provide digital asset services. 

​Earlier this year, Bybit announced its decision to stop to provide services to customers from the United Kingdom​ in order to comply with the Financial Conduct Authority's (FCA) ban of crypto derivatives.