Jun 20, 2024 12:25
Bybit, thesecond largest crypto exchange by spot volumes, announced on Wednesday that ithas achieved a major milestone of 30 million registered users worldwide. Thecompany also unveiled Copy Trading Pro, a new platform that enables investorsto mirror the strategies of more experienced traders to potentially earnpassive income with more consistent returns.
Bybit Surpasses 30 MillionUsers, Reaches 12% Market Share
TheDubai-based exchange has seen strong growth in last twelve months, with itsmarket share in spot trading surging from 2% in 2023 to more than 12% in 2024, accordingto Finance Magnates Intelligence.
"Reaching30 million registered users is a humbling achievement, and it wouldn't bepossible without the unwavering support of our vibrant global cryptocommunity," said Ben Zhou, Co-founder and CEO of Bybit. "We areincredibly grateful for their trust and remain committed to providingbest-in-class, reliable services tailored to local needs."
Interestingly,the company had already celebrated reaching the same milestone last month,having added 10 million new users in just six months. However, this time Bybit hasalso announced the launch of a new copy trading product in current lineup.
Bybit Unveils Copy TradingPro for Passive Crypto Investing
Althoughcopy trading has long been a cornerstone of Bybit's offerings, theplatform has now introduced a new service called Copy Trading Pro. This allowsinvestors to automatically replicate the trades of carefully selected "ProMasters" across both spot and derivatives markets.
Theseexpert traders can employ diverse strategies to maximize returns and earn upto 30% of profits generated. Investors' funds are locked in for 180 days, withweekly redemptions available, providing Pro Masters a stable capital base toexecute longer-term plays.
"WithCopy Trading Pro, we are revolutionizing the way traders and investorsparticipate in the crypto market, creating a safer and more mutually beneficialenvironment for both sides," said Joan Han, Sales and Marketing Directorat Bybit.
Forinvestors, Copy Trading Pro offers the ability to align with top traders whileretaining platform safeguards like 10x leverage limits and robust riskmanagement tools. Investments seamlessly mirror Pro Masters' positions,eliminating slippage and missed trades.
The launchof the new copy trading platform comes as Bybit continues to push into the Web3space. Recent initiatives like the Airdrop Arcade, NFT Pro, and InscriptionMarketplaces aim to simplify access to blockchain projects and ecosystems. Theupcoming Bybit Web3 DEX Pro will in addition provide a decentralized exchangeexperience.
In the mostrecent move, the crypto exchange has integrated Apple Pay into its offering,enhancing purchases of digital assets.
This article was written by Damian Chmiel at www.financemagnates.com.