How to Setup a Cryptocurrency Exchange similar to ByBit?

Published On December 21, 2019

ByBit Clone Script

ByBit Clone Script is a Cryptocurrency Exchange Website script with all its in-built features and functions of the popular exchange Bybit. By the way the script can be customizable to add extra features that you want, even if it is unavailable in Bybit Website.

Building your own Cryptocurrency Exchange Website right from the scratch is a tedious task. You will always need professional help!!

We Coinjoker, As a Predominant Cryptocurrency Exchange Clone Script Provider, guide you with a complete process of developing your crypto exchange platform. We deliver PHP clone scripts of various popular Crypto Exchanges like Binance, LocalBitcoins, Coinbase, Poloniex, Paxful, ByBit, etc,.

If you are the one who wants to launch your own Cryptocurrency Exchange Platform like Bybit, here is a complete guide for you..

What is ByBit?

ByBit is a Cryptocurrency derivative Exchange, that targets on the following trading pairs - BTC/USD, EOS/USD, XRP/USD and ETH/USD. The exchange was founded in 2018 and headquartered in Singapore that supports 5 languages- English, Chinese, Traditional Chinese, Japanese and Korean. This global exchange is currently considered to be the safest, most reliable, fairest, and most user-friendly exchange to date.

Features associated in ByBit Platform,

1. Perpetual Contract

Bybit perpetual contract is a financial derivatives product in between Spot trading and Futures trading that does not have an expiry date. This contract provides a hassle-free trading option and allows traders to hold positions for as long as they want; resulting in more financial gain.

2. Dual Price Mechanism

Bybit introduced its Dual-price mechanism, to protect traders from liquidation.Bybit uses the Dual-price mechanism to protect its traders from market manipulations and ensure a fair trading environment. Market manipulation is the act of intentionally increasing or decreasing the price on an exchange for personal gain.

3. Bybit’s Mark to Market

The fundamental system used to tether its price to the spot price is called ”Funding”. Funding is exchanged between long and short positions, thus making the last traded price marked to market for every 8 hours.

4. 100x Leverage

Bybit offers up to 100x leverage where traders can adjust the leverage and margin at any time according to how they wish to manage their position. This is a huge flexible form of risk management that ensures the best possible trading experience.

5.The Contract Loss Mechanism

Bybit employs a contract loss mechanism to protect its investors. This contract loss mechanism is used to determine who bears the cost when positions cannot be liquidated at bankruptcy (inability to pay ) price.

PROS

1. Great UI/UX, very intuitive platform

2. Amazing speed matching engine that reaches a speed of 100,000 TPS per contract.

3. The execution speed on Bybit is one of the major advantages.

4. Top-notch, quickly responsive support team.

5. No KYC required.

ByBit Trading View

Bybit allows its users to place both long and short positions. Place a long order if you think the price will rise, or place a short order if you think the price will fall.

The advanced order types in bybit exchange involve:

Limit Order

With a limit order, you can set the price at which your order will be executed.

Market Order

In this type, you can select the amount of cryptocurrency that you want to buy or sell then the order will be executed at the best available price on the order book.

Conditional Order

Conditional orders are mostly suitable for experienced traders. In conditional order, you have to enter a trigger price along with the limit price. So, when the trigger price is reached then the order be delivered to the market (whether it’s limit or market).

Is Bybit Safe?

In short, Bybit has proven to be a secure platform to trade on. Bybit maintains an insurance-like fund to deal with imperfections in contract settlements.

Bybit offers personal account security with 2FA authentication provided by the Google Authenticator app.

Wish to start a Cryptocurrency Exchange like Bybit?

Coinjoker has delivered around 25+ successful Cryptocurrency Exchange Clone Scripts of Binance, Coinbase, LocalBitcoins, Poloniex etc, which has helped the clients to become powerful Crypto Entrepreneurs!

Features integrated into our Bybit clone script,

1. Complete white label solution (you can update your logo, brand, design, and anything).

2. KYC (Know Your Customer) and AML (Anti-Money Laundering) solutions for more security.

3. Two-Factor Authentication for platform users.

4. Highly responsive website for unlimited trading .

5. Wallet integration for both online and offline storage.

6. The entire control of user funds, deposits, withdrawal limits, and trade history, order book.

7. Affiliate management system.

8. Multi-trade order types (market order, limit order, Conditional order, etc)

9. Guaranteed technical support for installation and setup.

10. CSRF protection and secured storage protocol.

11. Rich UI and admin panel.

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