Bybit VIP: what its and how it works
Are you one of the many avid crypto traders who have been thoroughly disappointed with enormous technical breakdowns or incorrect platform selections resulting in high fees and exorbitant trading charges? If yes, then it's time for you to check out Bybit's VIP Program.
What is ByBit VIP?
Bybit's VIP Program offers a high-end, exclusive service that enhances the profits (through an assortment of exclusive perks and opportunities) of high-volume traders, including both derivatives and spot traders.
Aside from providing its members with an exceptional premium service experience, this program also offers them the privilege of being accompanied by a VIP Ambassador, who will be able to take them through private events, new product launch parties, and many more.
Quite interesting, isn't it? Keep an eye on the blog to learn more about this program and Bybit VIP fees structure.
Who can participate in the Bybit VIP Program?
For those of you who are already Bybit users and would like to join the Bybit VIP Program, all you have to do is meet the minimum asset balance requirements and monthly trading volume.
You can join the Bybit VIP Program if you are already a VIP on other cryptocurrency exchanges. All you have to do is take a screenshot of your existing VIP status on other cryptocurrency exchanges and email it to premium@bybit.com.
There must be a minimum trading volume of $10,000,000 for derivatives & for spot $1,000,000.
Key features of the Bybit VIP program
It is within your rights as a Bybit VIP member to take advantage of the following features:
The Bybit VIP program provides its members with a dedicated VIP Ambassador who will assist them with any (personalised) needs they may have.
As part of the program, members will have priority access to the Bybit customer service team through a live chat feature if they need assistance with any technical issues or emergencies.
Upon joining, members will receive welcome hampers.
As a part of the program, members will also get an early walkthrough of the new product along with the high APY return and one-on-one private discussions.
Traders can also benefit from reduced trading fees based on their VIP level. For example, fervid traders might get a maker fee as low as 0% and a taker fee as low as 0.02%.
There will be an invitation from your VIP Ambassador to allow you to discover exclusive offers & campaigns that are reserved for VIP members only.
Lastly, members will receive curated reports (the latest insights from leading crypto industry experts) about the crypto market's current state.
Bybit fees structure vs. VIP trading fees: differences
Before we dive into the fee differences when incorporating VIP Trading Program membership, it's imperative to be cognizant of the maker-taker fee model. Simply put, maker(who provides liquidity to the exchange)-taker(the one who removes liquidity from the exchange) fees refer to the trading fee that is charged (by users) as a result of their role as makers or takers. So with that being said, let us now take a look at what the differences are:
VIP spot trading fees
Spot trading involves buying and selling cryptocurrencies at a predetermined price that will be settled immediately after the trade is executed. A typical example is the real-time trading of ETH-USDC or BTC-USDT.
Here is a breakdown of how the VIP Spot Trading Program's fees are structured:
| VIP LEVEL | SPOT TRADING MAKER FEE RATE | SPOT TRADING TAKER FEE RATE |
|---|---|---|
| NON VIP | 0.1 % | 0.1 % |
| VIP 1 | 0.04% | 0.06% |
| VIP 2 | 0.02% | 0.05% |
| VIP 3 | 0.01% | 0.04% |
| PRO 1 | 0.0000% | 0.0300% |
| PRO 2 | 0.0000% | 0.0250% |
| PRO 3 | 0.0000% | 0.0200% |
Bybit VIP futures and derivatives trading fees
Futures and derivatives trading can be defined as buying & selling of agreement contracts for the future price of the cryptocurrency.
Examples of these contracts are:
USDT Perpetual
USDC Perpetual
Here is a breakdown of the futures and derivatives trading fees:
| VIP LEVEL | PERPETUAL AND FUTURES TRADING MAKER FEE RATE | PERPETUAL AND FUTURES TRADING TAKER FEE RATE |
|---|---|---|
| NON VIP | 0.1 % | 0.6 % |
| VIP 1 | 0.006% | 0.05% |
| VIP 2 | 0.004% | 0.045% |
| VIP 3 | 0.002% | 0.0425% |
| PRO 1 | 0.0000% | 0.0400% |
| PRO 2 | 0.0000% | 0.0350% |
| PRO 3 | 0.0000% | 0.0300% |
FAQs
How do you become VIP on Bybit?
For those of you who are already Bybit users and would like to join the Bybit VIP Program, all you have to do is meet the minimum asset balance requirements and monthly trading volume.
You can join the Bybit VIP Program if you are already a VIP on other cryptocurrency exchanges. All you have to do is take a screenshot of your existing VIP status on other cryptocurrency exchanges and email it to premium@bybit.com.
Is copy trading in Bybit profitable?
Copy trading on Bybit can be profitable. The profitability of copy trading depends on the amount you have invested and the success of the trader whose trades you are copying.
How can I check my VIP level?
If you're already a VIP Trader, hover your cursor over the profile icon on the right side of the screen, and you'll be able to check your VIP Level. Alternatively, you can also check your VIP details through the link below.
How can I audit my current trading volume?
You can audit your current trading volume by clicking here.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.