ByBit

ByBit is a cryptocurrency derivatives exchange headquartered in Dubai. Founded in 2018 in Singapore, ByBit offers a platform for trading cryptocurrency perpetual contracts, futures, and options. The exchange has gained significant traction, currently ranking as the second-largest cryptocurrency exchange globally by trading volume, surpassing Coinbase.

ByBit's core offerings include inverse perpetual contracts, USDT perpetual contracts, and inverse futures contracts across various cryptocurrencies like Bitcoin, Ethereum, EOS, XRP, and Tether. Traders can access leveraged trading with up to 100x leverage on selected assets. The platform boasts a user-friendly interface, advanced order types, and a robust trading engine capable of processing 100,000 transactions per second.

ByBit's unique features include an insurance fund to mitigate losses from contract settlements, a dual price mechanism to prevent market manipulation, and an auto-deleveraging system to manage risk. The exchange has implemented robust security measures, including cold storage for user funds, multi-signature withdrawals, and two-factor authentication.

In March 2023, ByBit acquired the status of cryptocurrency as property in a legal case involving a contractor in Singapore. This ruling recognized that cryptocurrencies can be held on trust, further solidifying their legal standing.