Bybit 2022 Outlook: Taking Crypto Above and Beyond
In the blink of an eye, 2021 has come and gone. It felt like a rollercoaster with extreme highs and lows in the crypto world. But for us at Bybit, it has certainly been an exhilarating ride!
2021 was the year of several key historic moments — from El Salvador accepting Bitcoin as legal tender to China’s ban on crypto mining and trading, plunging the market into a bearish state. Yet, the general interest in crypto has surged exponentially, fuelled by celebrities like Elon Musk, whose tweets skyrocketed Memecoins to the moon.
The growing momentum of the crypto industry has also turned the heads of corporates and broader financial institutions. 2021 marked a record investment in blockchain technology, with companies like PayPal and Visa jumping on the bandwagon to accept cryptocurrency, while big tech such as Meta (formerly Facebook) entered the metaverse.
Governments too have put crypto on their watchlist, increasing regulatory measures which signal that the industry is developing from its infancy to a more mature state. Last but not least, decentralized autonomous organizations (DAOs) rose in prominence while NFTs and NFT games exploded in popularity, catalyzing all-time highs for many Altcoins.
To say it was a wild year is an understatement. There were many unexpected curveballs but we kept our head in the game and played it to our advantage.
Here’s a rundown on key figures and milestones we celebrated in 2021!
Now that we’ve entered the new year, 2022 begs the question — What’s next at Bybit?
The only predictability in crypto is its unpredictability. Nevertheless, we’re always ready to take the bull by the horns and push boundaries. Our team has been working hard with grand plans we can’t wait to unveil. But first, here’s a sneak peek!
Bybit NFT Marketplace
Lost in a sea of NFTs? We’ve got you covered. Brace yourself for Bybit’s very own NFT Marketplace, an integrated one-stop destination for listing and trading NFTs — digital art, collectibles, GameFi, the metaverse, etc. Exclusive NFTs from up-and-coming artists will be curated and released on our marketplace. On the flip side, artists and creators can look forward to deep liquidity and access to over five million Bybit users. We will also be launching Mystery Boxes with random NFTs ranging in rarity, for a good dose of virtual unboxing fun!
Exchange-Traded Product (ETP)
For traders looking to add an extra boost to your trading portfolios, Exchange-Traded Products (ETPs) could just be your cup of tea. ETPs are short term investment vehicles that allow you to reap the benefits of leverage with no margin or liquidation risks. When you trade an ETP, you are essentially buying a basket of Perpetual Contract positions. In short, ETPs are diversified trading products with the potential to offer great returns over a short period of time. We’re kicking things off with BTC as our first series of ETP offerings. You’ll soon be able to get in on the action!
Grid Trading
Another up-and-coming tool to get excited about is our Grid Trading function within our ByFi Center. Grid Trading enables systematic trade strategies. It works by utilizing bots to buy and sell orders placed at predetermined intervals by adjusting your desired leverage amount. The beauty of Grid Trading is its automatic function which allows you to buy low and sell high, reducing the need to manually monitor markets in real-time. Not only is it useful for crypto trading novices, it is also great for experienced traders who like to go off the grid every now and then.
MetaTrader 4 Integration
Forex traders rejoice! We’re integrating MetaTrader 4 (MT4) on Bybit. MT4 offers a versatile trading framework and comprehensive technical analysis. You can trade 24/7 on our offered crypto pairs with the same leverage ratio. The best part? We will be offering deep liquidity and low trading fees priced at only 0.075% per trade so the chances of slippage are low!
USDC Options
Get ready for USDC Options on Bybit! With a USDC Derivatives Account, you can upgrade your crypto wallet and gain access to our full suite of upcoming USDC-collateralized trading products. From Perpetual Contracts to Options Trading and Flexible Staking, you can grow your USDC capital and earn passive income with the power of leverage. To celebrate the debut of USDC Options, we will be launching exciting promotions with attractive USDC prizes. Stay tuned!
P2P
Riding on the DeFi wave, we’re launching our very own peer-to-peer (P2P) trading platform! Our Bybit P2P platform will support over 80 payment methods and 9 fiat currencies. Now you can easily buy and sell coins directly with other users. P.S. There are no platform or hidden fees and we have attractive incentives when you join us as an advertiser. Keep your eyes peeled!
Arbitrum Integration
Calling all ether (ETH) lovers! Arbitrum mainnet integration is coming to you real soon on Bybit. Arbitrum is an Ethereum Layer 2 scaling solution and one of the first optimistic commercial rollup solutions. This solution aims to address the blockchain trilemma — security, scalability, and decentralization. Overall, Arbitrum is designed and engineered to minimize the Layer 1 gas footprint of the system, minimizing per transaction cost!
VIP Program
We’re rolling out the red carpets for VIPs with the Bybit VIP Program! Once you qualify as a VIP, you’ll get to enjoy special perks such as taker fee discounts and one-on-one dedicated customer support. Watch this space for more details!
This is a non-exhaustive list of initiatives we will be launching and we have many more in the pipeline. Apart from building a reliable exchange and providing a next level trading experience, our ultimate goal is to create an all-encompassing cryptoverse for crypto lovers. There is still a long way to go and we have our work cut out for us. Come what may, we remain committed to our mission — to be the crypto ark of the world and empower all crypto users to achieve their dreams.
Thank you for being a part of our journey, we endeavor to always listen, care and improve to serve you better. We believe the outlook for 2022 is positive and a brighter crypto future awaits. Cheers to the new year everyone!