Cryptocurrency News

Bybit Takes Options Trading to the Next Level With Lucrative Offer for Institutional Traders

By June 1, 2023 No Comments

In what could be the news of the season for professional crypto traders, Bybit has just announced a big change to its VIP tiers system. The World’s third most visited crypto exchange announced today that professional options traders can now access their elite VIP tiers with trading history from other platforms.

By allowing the use of trading history from other platforms, Bybit is fast becoming one of the friendliest crypto exchanges. Its latest promotion will also see new options traders on the platform enjoy the lowest maker and taker fees (0.01%).

Bybit VIP and Pro Tiers for Professionals

Professional traders on Bybit can start taking advantage of the promotion immediately. They can easily switch to Bybit Options now, and they’ll be able to switch to the VIP and Pro tiers. Instead of relying only on trading history in Bybit, they can now use trading history or trading volume from other platforms.

With the recent development, even a professional Options trader who is new to Bybit can easily enjoy the benefits of its elite VIP and Pro tiers. There’s absolutely no need to start building your trading volume from scratch on the exchange. What’s better? Bybit will also grant newcomers VIP/Pro levels that are two steps higher than their current status.

In comparison to other platforms that typically offer VIP+1 benefits, Bybit is offering VIP+2 benefits and privileges for eligible users. For instance, an options trader with a trading volume of $100 million per month (Pro1 level at Bybit) on another exchange will be pushed two levels up after switching to Bybit. This implies that the trader will switch to the Pro3 level on Bybit instantly. One of the biggest benefits of accessing the VIP tiers is that trading fees become a lot lower with each step.

Making Life Easier for Professional Traders

While Bybit is obviously targeting new users, its commitment to improving the lot of Options traders is really commendable. Last year, the exchange introduced the industry’s first USDC-settled Options contracts for Bitcoin, Ether, and Solana. Under Bybit’s Unified Trading Account, these European-style contracts can be used alongside perpetual contracts and other derivatives.

Speaking about the exchange’s commitment to its old and new users, co-founder and CEO of the exchange, Ben Zhou, said:

“Newcomers to Bybit will soon discover how we are perpetually seeking innovative means to enhance their opportunities and augment their earnings. Bybit is committed to offering the most attractive incentives in the market, and this campaign exemplifies our dedication to the options trading community. We firmly believe that our platform provides the next-level reliability and opportunity professional traders are looking for. We look forward to welcoming new clients to our growing family.”

Wrapping Up

It’s a good time to use Bybit. This is an excellent opportunity for traders on other platforms to switch to Bybit and take advantage of all the goodies it is offering to newcomers. The fact that users can rely on their trading history on other platforms to access the VIP/Pro tiers is an indication of the exchange’s commitment to rewarding new users.