TL;DR
This article explores the top five standout features of Bybit in 2024, detailing unique tools and trading options designed to enhance your crypto experience and keep Bybit competitive in the evolving market. The features discussed are Options, Trading Bots, Copy Trading, Bybit Finance, and Gold, FOREX, and Commodities Trading.
According to CoinMarketCap, Bybit is ranked #3 and #2 in spot and derivatives trading, respectively. And our thesis for a while now is that part of the reason for Bybit’s success is the very diverse menu of additional products and services that’s offered to its customers.
However, it’s easy to get lost with so many options. So we’ve narrowed it down for you. Here’s the top five features on Bybit that you need to know about right now. And if you’re newer to Bybit, or to crypto in general, then we recommend you also check out the following articles:
- Bybit Trading Platform: A Comprehensive Guide for Beginners
- Understanding Bybit’s Derivatives Market: How to Trade Futures, Options, and Perpetuals
- Advanced Trading Strategies on Bybit: Tips and Techniques for Maximizing Profits
1. Options
Bybit’s Options exchange is a huge opportunity that’s often-times over-looked by many investors. Options are complex, which explains why these products don’t get the attention they deserve. But don’t let the complexity scare you away. Instead, use Bybit’s Options Strategy Guide to learn the basics.
Bybit offers options for Bitcoin, Ethereum, and Solana, with fees at 0.02%. Expiration dates span from the short to medium terms (i.e. daily, weekly, monthly, quarterly). Bybit’s options market is liquid, with the 30 day trading volume at $11.3B, and total open interest at $2.16B.
What makes options so damn interesting are the strategies that you can deploy across different market conditions. Here’s some different strategies for you to consider:
- Selling Puts in a Bull Market: You agree to purchase the crypto if the current price falls to the strike price by the expiration date. So you collect a premium (i.e. cash) upfront, and worst case scenario is you buy the crypto for cheaper than its current market price at a later date.
- Buying Puts at Cycle Tops: If you think the asset might be at a parabolic cycle top, buy a put with an expiration that’s a few months away, with the strike price at or near the current price. You’ll pay a premium for it, but if the asset’s price tanks, you can execute the option and sell your asset at or near the cycle top.
- Selling Naked Calls in a Bear Market: You agree to sell the crypto (that you don’t even own) if the current price rises to the strike price by the expiration data. So consider doing this if you’re confident that the asset will continue trending lower. You’ll collect a premium up front with the hope that price will stay below the strike price.
As you can see, incorporating options into your tool-kit opens up a diverse array of strategies that you can use, no matter the market you’re facing.
2. Trading Bots
Bybit’s trading bots are a powerful way to efficiently execute a large number of trades, while you’re away from your computer living your life. If you’re not familiar, trading bots are software programs that execute automated trades for you. You give the bot a set of trading parameters (i.e. rules) to follow, you fund it, and then you let the bot work for you.
Bybit divides their bots into the following five buckets. However, understand that you can customize everything to take advantage of bullish, bearish, or sideways trending markets. And you can use leverage with the futures bots.
- Futures Grid: Bot trades futures contracts with leverage using a grid strategy.
- Futures Martingale: Bot doubles down in the event of a loss, in the hopes of a market reversal for bigger profits later.
- Futures Combo: Bot creates a portfolio of perpetual contracts and rebalances it when the holdings deviate from the specified proportions.
- Spot Grid: Bot trades the spot market using a grid strategy.
- DCA: Bot deploys a simple dollar cost average investing strategy.
Interesting read if you want to know more about leverage trading: Bybit Leverage Trading Guide
Two final notes. First, you can use Bybit’s Aurora AI recommendations when setting up your bot, as opposed to setting your own trading rules. Aurora AI backtests historical market data in order to create a high yielding trading bot that makes sense for the current market. And second, you can always just copy a bot that someone else has made. Just rank order Bybit’s bots by market, asset, and ROI, and use the one that looks good to you.
3. Copy Trading
Why grind to become an expert trader, when you can just depend on the experts to do your trading for you? That’s exactly what you get with Bybit’s copy trading service.
To put it simply, copy trading means that your Bybit account will execute in real time the same trades as the expert that you’re copying. This means that your account basically mirrors that of the expert, in terms of executed trades. With regards to how much of your assets will be deployed per trade, you can trade proportionately between your available balance and the expert’s balance, or in a fixed marginal amount. If the expert makes profitable trades, a portion of your profits are paid to him. Thus, the expert is incentivized to do a good job.
The best way to get started is by filtering Bybit’s expert traders by the metrics that are most important to you. There’s a bunch of fillers, but the most popular are ROI, PnL, trade win rate, stability index, lowest drawdown, and the total number of followers. You can use these filters across 7, 30, and 90 day timeframes.
Once you’ve identified the expert that fits your style, and your risk to reward balance, you can activate the copy trading in just a few clicks.
4. Bybit Finance
If you’ve got a nice bag of crypto that you’re not ready to sell, but you want to put it to work, then take a good look at Bybit Finance. Here, you’ll find a large suite of products that primarily includes high-yielding crypto savings products and crypto loans. If you use these products correctly, you can generate additional yield on top of what you’ve already gained from your trades.
The biggest sub-section of Bybit Finance is ByBit Earn. Bybit Earn includes eight products that, in different ways, all work as high-yielding crypto savings accounts. I’ll let you explore the specific products on your own, but see the chart below to get an idea of some of the available yields.
| Flexible Savings | Fund Pool | Dual Asset | Liquidity Mining | |
| Bitcoin | 2.60% | 0.60% – 10.00% | 0.18% – 577.53% | 1.06% – 17.95% |
| Ethereum | 2.50% | N/A | 0.35% – 850.53% | 1.92% – 33.39% |
| USDT | 11.09% | 4.50% – 20.00% | 0.18% – 901.35% | 1.79% – 1066% |
| USDC | 10.32% | N/A | N/A | 1.06% – 1.92% |
Bybit’s crypto loans are another offering that you’ll want to keep in your back pocket. With crypto loans, you simply lock up as collateral one type of crypto asset, in order to take a loan for another type of crypto. You can then use the borrowed crypto loan for spot, derivatives, or options trading, deploy it in Bybit’s Earn products, or withdraw it for other uses.
5. Gold, FOREX & Commodities Trading
And finally, don’t sleep on Bybit’s gold, FOREX, and commodities trading. Yes, that’s right. You can trade gold, FOREX, and commodities like oil on Bybit. This is all accomplished via Bybit MetaTrader 5, which is basically a sister-site to ByBit. MetaTrader can be accessed via Bybit’s “Trade” sub-menu.
Here’s the main perks of MetaTrader. First, this market is open 24/7/365. Second, you can trade with up to 500X leverage. Third, MetaTrader currently offers over 100 trading pairs. Fourth, the fees are low and liquidity is high. And fifth, MetaTrader offers 24/7 live customer support, just in case you hit any snags. Moreover, MetaTrader has top-tier charts and indicators, along with availability across your phone, tablet, or computer.
And given that moving funds between ByBit and MetaTrader is seamless, MetaTrader acts as a very convenient portal to get you exposure to assets other than crypto.
Mastering Trading Course – by Lark Davis
Want to take your trading skills on Bybit up a notch? Check out the Mastering Trading Course, created by Lark Davis himself. Inside, you’ll find practical, step-by-step guidance on reading market signals and using technical analysis tools. Plus, there’s a dedicated module on how to get the most out of Bybit—perfect for anyone aiming to become a confident, skilled trader on the platform. Whether you’re new to trading or looking to sharpen your strategies, this course has everything you need to trade smarter and with real confidence.
Closing Thoughts
If you know about Bybit’s spot and derivatives trading, and the features discussed in this article, then you’re probably realizing just how much you can do on this exchange. In fact, if you’ve got enough capital, you could make a full time job out of maximizing everything that Bybit has to offer. And that’s pretty damn exciting when you think about it.
So my recommendation at this point would be to start experimenting with any of the features above that caught your attention. Good luck, and enjoy the markets!
We have also compared Bybit vs Coinbase and Bybit vs Binance, might be interesting to give that a read too.
David learned about bitcoin in 2015 and has closely followed the crypto industry since then. His professional interests center around bitcoin, layer-one blockchain protocols, decentralized finance, and clean energy. An attorney by trade, David has held licenses to practice law in the State of Hawaii and in US federal courts.
