Bitcoin mining stocks outperformed Bitcoin in terms of value for many reasons. Learn why are they so important. 

 occurred in 2016. Since then, Bitcoin mining stocks have gained interest. These stocks represent companies that operate large-scale facilities to mine Bitcoin, the top cryptocurrency by market capitalization. In 2023, Bitcoin mining stocks outperformed Bitcoin itself by a wide margin, generating impressive returns for investors. But what are the reasons behind this success? And how do Bitcoin mining stocks compare to Bitcoin as an investment option? This blog post will dive into these questions and more.

Understanding Bitcoin Mining and Bitcoin Mining Stocks

 is the process of validating transactions and creating new bitcoins using specialized hardware and software. Miners compete with each other to solve complex mathematical puzzles that require significant computing power. The first miner to solve the puzzle adds a new block of transactions to the Bitcoin 

, the distributed ledger that records all transactions. In addition, the miner receives a reward in the form of newly minted bitcoins and transaction fees.

The term “Bitcoin mining stocks” refers to shares of publicly traded companies that derive most of their revenue and profits from Bitcoin mining operations. These companies typically engage in activities such as creating and operating Bitcoin mining farms, producing and selling mining hardware and equipment, and providing related services for Bitcoin miners. Investing in these stocks can be a way to gain exposure to the crypto world without the associated risks of directly owning cryptocurrencies.

The Performance of Bitcoin Mining Stocks in 2023

Despite the volatility and uncertainty in the crypto market, Bitcoin mining stocks had a stellar performance in 2023. According to 

 Cointelegraph, the average year-to-date stock price gains in 2023 among the top nine public Bitcoin mining firms by 

 was 257.14%. This figure is almost three times higher than Bitcoin's price gain in the same period. 

Factors Behind the Success of Bitcoin Mining Stocks

Several factors contributed to the success of Bitcoin mining stocks in 2023. 

Buying Bitcoin mining stocks and purchasing Bitcoin are both ways to invest in crypto, but they have some key differences. 

Advantages of Investing in Bitcoin Mining Stocks

Investing in Bitcoin mining stocks can offer some advantages over investing in Bitcoin directly.

The best Bitcoin mining stocks in 2023 have shown strong performance, profitability, growth potential and innovation. Based on these criteria, here are seven top picks for 2023.

Riot Platforms, a Texas-based Bitcoin mining company, boasts an impressive hash rate capacity of 

 and operates a 700-megawatt (MW) facility, making it the single largest in North America. In Q2 of 2023, the company successfully 

, with a low production cost of $8,389 per Bitcoin. It reported 

 in the last quarter, and experienced a remarkable year-to-date price surge of 234.8%, closing at $11.35 on August 31.

Also based in the United States, Marathon Digital Holding 

 in the second quarter of 2023, boasting a hash rate 

. Marathon Digital has enjoyed an impressive 

 increase in share price this year, and reported a 

 in the second quarter. The company's primary objective is to become North America's largest and most environmentally conscious Bitcoin miner.

Based in Alberta and Ontario, Hut 8 Mining operates with a hash rate capacity of 2.6 EH/s. In the second quarter of 2023, they mined 399 BTC and reported a revenue of 

The company has experienced an impressive year-to-date increase in share price of 185.9%, closing at $2.43 as of August 31. Hut 8 is committed to expanding its mining capacity and diversifying its revenue streams through 

Hive Blockchain Technologies, another Canadian company, is dedicated to mining Bitcoin and Ethereum using sustainable energy sources like hydroelectricity and geothermal power. In the second quarter of 2023, the company 

Operating in Québec and Argentina, Bitfarms Ltd., a leading Bitcoin mining company, currently boasts a 

 During the second quarter of 2023, the company 

. Bitfarms has made significant strides in the stock market, experiencing a 

 in share price. The company is leveraging low-cost renewable energy sources to target mining capacity expansion to 

Based in the United Kingdom, Argo PLC is a Bitcoin mining company that operates in Texas and Québec. It has achieved a total hash rate 

, and in the first half of 2023, it successfully 

 in the first half of 2023. The company aims to become one of the biggest and most eco-friendly Bitcoin miners worldwide by implementing renewable energy sources and carbon offsetting programs.

CleanSpark, a leading provider of energy management and Bitcoin mining software solutions based in the United States, has reported impressive growth during the third quarter of fiscal year 2023. The company operates several mining facilities, and boasts a hash rate 

, mining a total of 4,729 BTC for CY 2023. CleanSpark generated a 

The company remains committed to improving its mining efficiency and sustainability by utilizing 

 technology and renewable energy sources. It has received full funding to expand its facilities to hit a target of 16 EH/s operational hash rate by the end of 2023.

Summary: The Dominance of Bitcoin Mining Stocks

Bitcoin mining stocks have emerged as a dominant force in the crypto space, outperforming Bitcoin by a wide margin in 2023. These stocks offer investors a way to gain exposure to the growing demand for Bitcoin under a regulated framework. Bitcoin mining stocks offer some advantages over Bitcoin, such as lower volatility, higher liquidity, regulatory compliance and exposure to other business segments. However, investing in Bitcoin mining stocks is not without risks. Therefore, when 

, consider operational issues, environmental concerns, competition and regulatory uncertainty. 

Intermediate

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Bitcoin Mining Stocks: Why They Outperformed Bitcoin in 2023

Seed phrase is the backbone for your crypto wallet security. But how do they work? Learn more. 

Cryptocurrency is a form of digital or virtual currency that's designed to use cryptography to effectively secure transactions. There is no central regulating authority for cryptocurrencies per se, which makes the systems they operate on more decentralized and secure than centralized networks.

When investors purchase crypto coins, the assets are often held in digital wallets. It's possible for wallets to become broken or lost over time. In this scenario, it would be nearly impossible for users to recover their coins without a seed phrase. Thus, a seed phrase allows investors to securely maintain their assets.

A seed phrase consists of 12 or 24 words that give you the data you need to recover your crypto wallet when you don’t have access to it. Designed to be used as a security measure for digital assets, popular wallets like Ledger, MetaMask and Exodus use these phrases.

Importance of Seed Phrases for Crypto Security

A seed phrase is highly important for crypto security because of its many applications. The phrase itself isn't needed whenever you wish to access your crypto wallet. Instead, it allows you to enable several different functionalities that make it easier for you to manage your crypto assets. The primary reason to use a seed phrase is to give your crypto wallet more security.

Crypto seed phrases have three applications::

If you need to switch your current crypto wallet to another application or device, you can use the phrase of your choice to access the wallet on a completely different device. Let's say you first installed your crypto wallet on your smartphone. The seed phrase allows you to enter the wallet on your desktop computer or tablet with relative ease.

It's also possible to generate a crypto wallet with your phrase. Whenever you're setting up a wallet, you'll be given the opportunity to create a phrase that consists of 12 or 24 words arranged in a specific order. Make sure you properly store this phrase to ensure no one else gains access to it.

If you lose your wallet or find that it's broken, you can claim your assets with your crypto seed phrase. There are many reasons why you might lose your wallet. For example, some owners accidentally delete a specific wallet application from their smartphone or desktop. There's also a chance that your hardware wallet or device will be stolen. Even if you lose your phone or computer, your crypto wallet can be restored on another device.

Among the most commonly used standards for these phrases is 

 (BIP39). Even though this standard was initially meant to be used with Bitcoin wallets, it has since become widely used across the entire crypto industry. When it comes to crypto wallets, BIP39 defines how wallets are supposed to generate their phrases. It also reinterprets every word for effective wallet recovery.

Before new private and public keys are made for a crypto investor, the wallet generates a phrase or asks the user to input one of their own. Once you've selected a phrase, the software will then convert the words into a binary seed consisting of a sequence of ones and zeros. This phrase is used to create a set of public address pairings and private keys.

While BIP39 is the most widely used standard, it's also possible to use 

 during this process. These standards are considered part of BIP39, and are designed to organize addresses in a tree structure. This allows for numerous key pairings and child pairings to be made. By utilizing this structure, you add an additional layer of security and privacy to your wallet when making transactions.

Once you've generated a wallet address, as well as additional private and public pairings, you won't need to use the recovery phrase to access your holdings. Instead, you'll be able to log in to your software or hardware wallet with a PIN or basic passcode when completing transactions. In this scenario, you're able to keep your private keys from being viewed by other people.

You can also benefit from the backup seed phrase if you happen to lose your device, which means that your phrase should be kept in a different location than your crypto wallet.

There are three separate techniques you can use to generate a crypto seed phrase, primarily with a crypto wallet. The majority of crypto wallets automatically generate seed phrases when you first set them u[. However, you don't have many options for customizing the phrases. If you're fine with never changing the phrase, this option is perfect for you.

It's also possible to generate a phrase with an app. Certain apps let you generate a phrase, as well as an encrypted vault that will hold your phrase and digital assets for extra security.

If you'd like to generate a phrase offline, you can do so with a calculator. The calculator will need to come with "random" functionality in order to create a phrase that has a random selection of characters. Keep in mind that calculators have some security issues, since multiple devices are needed for the phrase generation process. Along with a calculator, you must use an air-gapped computer, one that 

 with other network devices. This solution allows you to keep your data secure.

The seed phrase you generate for your wallet grants you access to your crypto assets. To avoid 

 your phrases. While it's possible to store your phrase digitally, you should avoid doing so. Even if the phrase is password protected, it could be exposed to criminals and hackers if your device goes online.

You could choose to memorize the phrase. However, most people don't have perfect recall, which is why the best option is to use a more traditional security method. Write down the phrase in its correct order before placing the paper in a secure location. Since a fire or flood could damage this piece of paper, store it in a personal safe. Most models offer ample water and fire protection. Another option is to buy a 

, which offers similar protection and is much smaller than a safe.

There's always a risk of losing or exposing the phrases you've generated for your crypto wallets. You can, however, mitigate these risks with the right approach. While you can obtain a 

 to gain full control over your private keys, you'll be solely responsible for making sure your seed phrase is protected. In the event that you lose access to your primary wallet as well as your recovery phrase, it will be almost impossible to recover your funds.

There have been cases of crypto holders entering their seed phrases into phony websites impersonating those of actual online wallets, such as MetaMask. Always make sure that you’re on a crypto wallet’s authentic site before entering your seed phrase, because scammers who induce you to enter your seed phrase on a copycat site can drain your crypto wallet, rendering your assets unrecoverable.

Steps to Recover Crypto Assets Using Seed Phrases

Recovering your crypto assets is relatively easy if you have a crypto seed phrase. Below is a step-by-step guide to recovering assets from a 

There are two buttons on the Ledger Nano X, one of which is right beside the USB-C port. Hold down this button until the logo appears. You'll then be given instructions on how to perform different tasks. Use the left and right buttons to move between options before landing on the 

 option. From here, press both buttons at the same time to confirm your choice.

You'll be tasked with creating a PIN before you can access your device. This PIN can be anywhere from four to eight numbers. Press both of the buttons down at the same time when you've set your PIN.

Once your PIN is set up, add your phrase. With Ledger, begin by adding the first two letters of each word. From here, click both buttons to bring up a series of words. You can then click on the correct word before moving onto the next one. Once you've entered the entire phrase, click both buttons again to gain access to your assets.

After you gain control of your wallet, install your crypto apps once again before adding your account to the Ledger Live app.

There are several myths about crypto seed phrases that should be cleared up. While many crypto investors believe that these phrases are the same as private keys, they are two different things. The phrase is a readable version of a private key.

You'll also notice that numerous companies advertise online storage methods for crypto seed phrases. In fact, many investors choose this option. The issue with storing your phrase online is that it can be hacked. Your phrase needs to be stored offline and in a safe location.

Crypto seed phrases are the perfect security feature for crypto assets. As long as you keep your phrase safe and secure, you should never need to worry about permanently losing the assets you've spent time collecting. Once you've generated a seed phrase, you'll have everything you need to begin making investments in crypto.

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Demystifying Seed Phrases: Your Essential Tool for Crypto Security

Crypto scam recovery is a service that works to help you get your money back. Learn more about whether you can recover your funds after a scam in this article.

Beginner

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Crypto Scam Recovery: Can You Recover Funds After a Scam?

Learn how time the market & utilize Bybit's Earn, Spot, Options, Copy Trading and more to make profits!

n the world of crypto trading, market conditions can change as quickly as the weather. But just like a seasoned sailor who knows how to navigate through either calm or stormy seas, traders can always capitalize on market swings with the right strategies. 

Understanding the market landscape and diversifying your trading strategies are key to thriving in both bull and bear markets. 

Before diving into trading strategies, it’s crucial to understand market momentum, the force behind asset prices moving in a particular direction. Traders often use 

 to gauge this momentum. Following are some of the most commonly used trading tools.

, is characterized by an extended period of rising asset prices. 

 is essentially the opposite of a bull market. It’s a period during which asset prices experience a significant and prolonged decline. 

To better navigate the complexities of the crypto market and adapt your strategies to the prevailing market conditions, you’ll need to understand the differences between a bullish market and a bearish market.

Bear Market: The Best Time to Accumulate Wealth

Contrary to popular belief, bear markets offer multiple avenues for accumulating wealth. While many investors shy away from the market during downtrends, savvy traders see this as a prime time to buy. 

Riding the market momentum involves effectively timing your entry and exit points.

While these methods are essential for riding the market momentum, they’re just the tip of the iceberg. Depending upon current market conditions, there are specific strategies you can employ to manage your crypto assets effectively.

Thrive in Volatility: Managing Crypto in Bull Markets

Thriving in the volatility of bull markets requires a nuanced approach that builds upon the foundational strategies used for riding market momentum. Bull markets offer unique opportunities for substantial gains, but they also come with increased volatility that can be both an opportunity and a challenge. For traders who are risk tolerant, Bybit offers a range of products designed to capitalize on the high-reward prospects of a bullish market.

Survive Through the Winter: Accelerating Crypto Wealth in the Bear Market

A bearish market is characterized by falling prices, and the general sentiment can be negative. However, this doesn’t mean that opportunities for profits don’t exist. In fact, some of the greatest trading victories have been won in bearish markets.

With such reasoning, Bybit offers a plethora of products to help traders and investors accumulate wealth, providing a sense of warmth to brace through the coldest winter. 

Still unsure about your trading strategies? 

 for recommendations about technical indicators, price movements, market trends and more. 

Trading Strategies That Apply Regardless of Market Sentiment

 is the backbone of every investment decision, and plays a significant role in determining whether a trader will realize profits or suffer losses. 

However, understanding market sentiment alone isn’t enough to ensure success in trading. It forms just one part of the puzzle. The other crucial aspect is adapting trading techniques to align with market sentiment. 

The following are the most widely used trading strategies.

 onto it for long-term gains. Regardless of price fluctuations, you continue to accumulate the asset. Investors usually deploy the 

to make a consistent investment (rather than a large lump-sum investment) to average out market volatility exposure. 

This is one of the most popular trading strategies, not only because it's beginner-friendly but because it applies to all market sentiments — bullish, bearish or even in a neutral market.

 their positions so they can open multiple positions and offset risks with a more capital-friendly strategy. Essentially, options traders invest in a contract to sell or buy underlying assets, based on a predetermined price and within a specific time. 

Traders favor options mainly for their versatility in most market sentiments, even in a 

. Following is a list of how options trading can work in diverse situations.

Scalping is one of the more traditional yet effective trading methods. Scalpers buy and sell assets for profit with a fast turnaround. This method of trading encapsulates the idea of maximizing profits on smaller trades, and earning quick profits on 

 through minor discrepancies in the market. 

The scalping strategy applies well in all markets since traders can profit in tight spreads. Because the crypto market is volatile and moves quickly and 24/7, scalping at a high frequency can yield relatively sustainable profits if it's done correctly. 

Trading campaigns offer traders the benefits of accumulating wealth and exclusive access to events and perks. Let's explore some of the top campaigns currently active on Bybit. 

Enjoy Bybit’s newly optimized Options fees, with maker and taker fees as low as 0.02%. Applies to all USDC Options contracts on Bybit for users of all VIP levels. 

VIP traders can enjoy competitive maker-and-taker trading fees and maximize their net profits on each trade, regardless of trading volume. They can also unlock rebates, higher withdrawal limits and access to exclusive events.

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Winning in Any Weather: How to Earn Crypto During Market Uncertainties

Is crypto a commodity or security is a commonly asked question? Still confused? Let's decipher it now.

The classification of cryptocurrencies is a highly debated topic in the crypto industry. Investors often question whether cryptos should be considered commodities, securities or another category altogether. This matter significantly impacts the legal status, taxation and regulation of digital assets, as well as their potential for adoption and innovation. This blog post will dive into the ongoing debate between commodity and security classification within the crypto world and explore how various jurisdictions and authorities tackle this issue.

Understanding Crypto: Is It a Commodity or a Security?

Before addressing the commodity vs. security debate, we first need to define these terms. A commodity is an exchangeable commercial good, like raw materials or agricultural products. Commodities are often used to produce other goods and services. Examples of commodities include gold, oil, wheat and coffee. Commodity trading often takes place on futures markets, where contracts are created to buy or sell a commodity at a predetermined price and date.

On the other hand, a security is a tradable financial instrument with monetary value. It represents claims on the issuer’s assets or future cash flows. Common securities include stocks, bonds, 

. They are typically traded on exchanges or over-the-counter markets, where buyers and sellers agree on a price and quantity. Securities are subject to various laws and regulations, depending upon the jurisdiction.

Classifying crypto assets as commodities or securities depends upon specific characteristics, such as purpose, functionality and governance. For example, specific cryptocurrencies are designed to serve as a store of value, means of exchange or unit of account, while others provide access to a network, platform or service. Some cryptocurrencies are decentralized and distributed among many nodes, while others are essentially centralized and controlled by a single entity. Likewise, some cryptocurrencies have a fixed supply and issuance schedule while others have variable or inflationary supply mechanisms.

Due to these factors, different authorities and jurisdictions view and treat crypto assets differently. The U.S. Commodity Futures Trading Commission (CFTC) regards Bitcoin and other cryptocurrencies that function as substitutes for 

, to be considered commodities under the 

 considers specific cryptocurrencies to be securities, according to the 

. This includes cryptocurrencies issued through 

 (ICOs) or token sales, whereby investors expect to receive a return on their investment from the efforts of others.

Classifying Bitcoin: Commodity or Security?

The world's first and most beloved cryptocurrency is Bitcoin. It was created in 2009 by a person or persons going by the pseudonym of 

 prevention (i.e., no one can spend the same digital currency at the same time) rely on a 

 (P2P) network that uses cryptography. The currency has a finite supply of 21 million coins created through mining, a process by which computers compete to solve complex mathematical problems and earn rewards in bitcoins.

 (rather than a security) by most authorities and 

jurisdictions because it has no central issuer or authority controlling its creation or distribution. It also does not confer any ownership or debt rights to its holders. 

 primarily as a decentralized digital currency that users can rely on for payments or transfers, without intermediaries or censorship.

 stated since 2015 that Bitcoin and other virtual currencies are commodities under the CEA. This stance means that Bitcoin futures and options contracts are subject to the CFTC's oversight and regulation. The CFTC has also brought 

 against entities that they believe have engaged in fraud or manipulation involving Bitcoin or other virtual currencies.

, "Cryptocurrencies like Bitcoin are not securities, but rather are types of currencies." However, he also warned that "just because something is a currency does not mean that it cannot also be a security." He added, "If a cryptocurrency or a product with its value tied to one or more cryptocurrencies is a security, our securities laws apply."

The SEC is the main regulator of securities in the U.S. Its mission is to protect investors, maintain fair and orderly markets, and facilitate capital formation. It has the authority to enforce federal securities laws and regulate the securities industry, including securities exchanges, brokers, dealers, investment advisers and rating agencies.

The SEC has been actively involved in crypto since 2017, when it issued 

 that raised funds through an ICO in 2016. The SEC concluded that The DAO’s tokens were securities under the Securities Act and the Securities Exchange Act, and that The DAO and its promoters violated the registration and disclosure requirements of these laws. It also warned that other ICOs or token sales may be subject to the same rules and regulations.

Since then, the SEC has brought several enforcement actions against crypto projects that are believed to have violated its securities laws. Some of these include Telegram, Kik, Block.one, Ripple and BitClave. The SEC has also issued guidance and statements on various aspects of crypto regulation, such as the framework for determining whether a digital asset is a security, the application of the 

 to crypto assets, the registration and reporting requirements for crypto securities, and the custody and trading rules for crypto assets.

 as being too restrictive, unclear or inconsistent, arguing that the SEC's definition of security is too broad and vague, and stifles innovation and competition in the crypto industry. Others claim that the SEC's enforcement actions are selective and arbitrary and don’t provide enough guidance or clarity for crypto entrepreneurs and investors. And still others contend that the SEC's jurisdiction over crypto assets is limited or questionable — and it should defer to other regulators or lawmakers.

The Impact of Classification on the Future of Crypto

The legal classification of crypto assets as either commodities or securities has far-reaching implications for their regulation, taxation and market potential. Commodities are typically subject to less stringent rules and regulations than securities, and they aren’t required to register with regulators or disclose information to investors or the public. 

Additionally, commodities are taxed differently than securities, and capital gains tax is applied when commodities are sold or exchanged. Conversely, securities are subject to more rigorous regulations, and they must register with the SEC or obtain an exemption before being sold to investors. They must also comply with various disclosure and reporting requirements to investors and regulators, and are subject to greater oversight and enforcement actions. 

Securities may offer more protection and assurance to investors who seek security and transparency in their investments and benefit from greater recognition by regulators and institutions. On the other hand, commodities may feature more liquidity and accessibility because they can be created without registration, fostering innovation and experimentation in the crypto space. However, securities may be available to more institutional capital and provide more funding and resources to crypto projects, which can foster widespread interest.

The Implications of Cryptocurrency as a Security

The distinction between commodities and securities holds significant legal and regulatory implications for those involved in the crypto market. Commodities, such as gold, oil and wheat, can be traded on a market. Conversely, securities represent ownership or debt claims on an entity, including stocks, bonds and derivatives. Securities are subject to more regulation than commodities, with complex rules and oversight agencies in place to ensure market integrity and protect investors.

Determining whether a crypto asset is a commodity or security depends upon the asset's nature, design and purpose; the rights and obligations of the parties involved; and market participants' expectations. For instance, Bitcoin, the first successful and most popular cryptocurrency, is widely regarded as a commodity because it’s a scarce and fungible digital good that can be exchanged for other goods and services. However, some cryptocurrencies — especially those issued through ICOs or granting holders certain benefits or privileges within a network or platform — may be deemed securities as they resemble equity or debt instruments.

 that possess features of securities and are bound by securities laws and regulations. They can assume different forms, such as coins, tokens or shares, and can represent a range of rights or claims like ownership, profit sharing, voting, access or utility. Typically, crypto securities are issued through ICOs or other crowdfunding platforms, whereby the issuers collect funds from investors in exchange for crypto tokens that confer specific benefits or entitlements.

However, crypto securities present a host of challenges and risks for both regulators and investors. On the one hand, 

 and frameworks to decentralized, global and ever-evolving crypto assets. On the other hand, investors face uncertainties and vulnerabilities when dealing with crypto assets that are volatile, illiquid and susceptible to fraud or manipulation. As a result, all parties involved in crypto securities must exercise caution and conduct thorough due diligence.

The regulation of crypto assets varies greatly across different countries and jurisdictions. Some nations embrace crypto innovation and adoption, while others remain cautious and restrictive. Some have established clear and comprehensive rules and guidelines for crypto assets, while others have vague or inconsistent regulations. Certain countries determine the status of each crypto asset through a case-by-case approach based on its features and functions. Meanwhile, others have taken a broad-brush approach, categorizing most or all crypto assets as securities or commodities.

Countries such as Switzerland, Singapore, Malta, Japan, Canada and the U.K. are known for their favorable and clear regulations governing crypto assets. These nations acknowledge the potential benefits of crypto innovation, and have provided regulatory clarity and legal certainty for crypto businesses and investors. In contrast, countries like China, India, Russia, Iran and Venezuela have unclear or unfavorable regulations for crypto assets. These nations have imposed restrictions or even bans on crypto activities, leading to legal ambiguity and uncertainty for crypto stakeholders.

Overall, the regulatory landscape for crypto assets is complex and constantly evolving. Businesses and investors need to stay informed and up-to-date on the regulation of crypto assets in different countries and jurisdictions to ensure compliance and mitigate risks.

Crypto assets are a diverse and evolving digital asset category with different implications for regulators, investors and users, depending upon their classification as commodities or securities. The classification of crypto assets isn’t always straightforward or consistent across different jurisdictions, and may change over time as the crypto industry develops and matures. Therefore, all parties involved in the crypto space must stay informed on the latest events and trends in crypto regulation. Investors need to understand the relevant jurisdictions and perform 

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Commodity vs. Security: Does It Matter If Crypto Is a Security?

Enjoy buying crypto on Bybit without worrying about the hefty fees. We explore different ways to getting crypto with the most optimized methods. 

Bybit’s globally recognized crypto exchange features an intuitive interface that eliminates the confusing crypto buying process for all users. Security and reliability are paramount at Bybit, and we’ve partnered with a wide range of payment providers and gateways who share these same values to provide a seamless crypto checkout system that helps you get BTC, ETH, XRP, USDT and more, using your local currencies. 

With Bybit, you can purchase crypto in a few quick ways — whether it’s via Bybit fiat (express checkout), credit and debit cards, peer-to-peer (P2P) trading or simply exchanging assets on the Spot market. We optimize and absorb most of the transaction costs, offering zero-fee crypto buying services so you can accumulate more crypto. 

In this guide, we’ll explore the different ways to safely obtain crypto on Bybit without fees.

There are numerous benefits to buying crypto with Bybit. 

Bybit’s platform uses advanced technology to protect your funds and personal information. In addition, we offer a wide variety of cryptocurrencies for you to choose from, including BTC, ETH, USDC, USDT and XRP. 

Traders and buyers from around the globe can obtain cryptocurrencies with their local fiat, including EUR, JPY, HKD, GBP, TRY, MYR, PHP and more. 

World-Class User Interface and Payment Options

Bybit’s platform features a user-friendly interface that makes it easy for both beginning and experienced traders to navigate, and features a wide range of payment options for users to buy cryptocurrencies. 

In addition to the above benefits, Bybit offers 24/7 multilingual customer service. Whether you have a question about how to buy crypto or you're facing technical issues, you can always reach out to our support team for assistance. Furthermore, Bybit provides 

 to help you better understand the crypto market, including trading guides, market analysis and webinars.

Perhaps the most attractive benefit of all when using Bybit is the opportunity to buy crypto without paying hefty transaction fees. This can significantly increase your profits, especially if you're a frequent trader. 

In the following sections, we’ll explain how to take advantage of this benefit in detail.

Step-by-Step Guide: How to Buy Crypto on Bybit

If you're new to Bybit, don't worry — because buying crypto on the platform is a straightforward process. Here's a step-by-step guide to help you.

. Visit the Bybit website and click on the 

 button. You'll need to provide your email address and create a password. After you've completed the registration process, log in to your account.

The fee structure of P2P trading corresponds to two types: Taker and Maker.

 P2P on Bybit offers zero transaction fees for Takers and Makers. 

: Complete the process by confirming your transactions. Check your wallet's account balance to ensure you keep your account funded. 

: Bank transfers feature zero fees for limited currencies only. This does not apply to all currencies, and users are advised to check the fees on the payment confirmation page before confirming their transactions.

How to Avoid Paying Fees When Buying Crypto on Bybit

In order to avoid paying fees when buying crypto on Bybit, it’s important to understand the differences between the payment methods you’ve chosen to proceed with. 

Depositing EUR to the platform and using the Spot market to receive USDC in return involves market orders and limit orders, which incur a fee. 

However, you'll be exempted from deposit fees if you deposit local fiat currencies to the platform using Bybit Fiat. Most fiat currencies — such as HKD, TRY and more — are entitled to zero-fee programs. However, there are exceptions for some currencies. Users are encouraged to check the notification box before confirming their order checkout. 

Users who want to avoid paying fees when buying crypto on Bybit can also opt for Bybit P2P to get exactly what they’ve asked for when exchanging currencies with peers. Bybit helps facilitate the buying and selling of two users' holdings at an optimal, agreed-upon price without taking a cut from the transaction.

Risks and Rewards of Buying Crypto on Bybit

As with any investment, buying crypto with Bybit comes with its share of risks and rewards. The primary risk is the volatility of the crypto market. Cryptocurrency prices can fluctuate dramatically in a short period, which can result in substantial losses.

On the other hand, the primary reward is the potential for high returns. Cryptocurrencies have been shown to offer substantial returns over the past decade, with Bitcoin being the most notable example. Furthermore, by trading on Bybit, you can maximize your profits using different contracts and trading strategies. 

Here’s an overview of the products you can consider.

cryptocurrencies at the current price immediately delivers the cryptocurrency traded.

Altcoins

Blockchain

Crypto

DeFi

GameFi

Indicators

Investing

Metaverse

Memes

Options

Stablecoin

Staking

Strategies

Trading

Web 3.0

Crypto

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