[Bybit: Virtual currency, NFT] What is staking? Features and methods Asset management method


Bybit is one of the top cryptocurrency exchanges in the world. This exchange has a system called staking, which is the same as a fixed deposit in a bank, and once deposited, a fixed yield is paid. Therefore it is popular.

Bybit Features and Functions

Bybit is an overseas virtual currency exchange with low fees and one of the most popular in the world. Compared to virtual currency exchanges in Japan, mexc, binance, and bitflyer, it has a large number of coins and a wide variety of transaction methods, so it is highly rated. It is easy to use as a user as it handles Ethereum, Ripple, and Bitcoin.

Many deposit and withdrawal methods

We currently accept credit cards, legal currencies (dollars, Japanese yen, euros), virtual currencies, P2P, etc. Withdrawals can be made by scanning the QR code or copy-pasting the wallet address. You can start trading with a fairly high amount.

Security measures are taken

Bybit has strict security measures and even verifies your identity. There are also many types of two-factor authentication and SMS authentication. Authentication methods can be changed or added by the user.

Coins handled

Bybit covers major coins such as BTC, ETH, ADA, SHIB, MATIC, and USDT. It also supports spot trading, futures trading, and liquidity mining. It is convenient because you can easily trade by specifying the quantity in the app. Leverage can be as high as 200x.

What is staking?

There is something called staking in Bybit, which mainly deals with virtual currency trading and NFT. Staking is the process of depositing virtual currency on an exchange and receiving a reward as compensation. This is very similar to a fixed deposit in a bank. Since you can get a stable yield, anyone can do it because it does not require techniques compared to FX trading. There are two types of stakes:

regular stakingreserve staking
Operation period30 / 60 / 90日間freedom
Number of stocks7 types21 types

reserve staking

Accumulated staking is Bybit’s unique staking service. By depositing virtual currency, you can earn a stable yield and increase your assets. The advantage of staking is that you can participate with a small amount of money because you can participate with a small amount of money. Just deposit your assets, so you can earn steadily.

Many brands available

Accumulated staking allows staking of all major currencies. In addition, limited-time events are held where you can stake under favorable conditions, so you can choose stocks that suit your needs and timing.

Can be canceled at any time

Accumulated staking has a very high degree of freedom, so it is a system that can be canceled at any time according to the user’s will. Since the market price of virtual currency fluctuates considerably, it is possible to release staking if a crisis is detected.

Interest can be received every day

Interest on accumulated staking is paid daily. The advantage is that you can earn profits every day. Therefore, it is a recommended investment for those who want to make money right away.

regular staking

Staking also includes regular staking. Regular staking requires operation for a certain period of time. There are also disadvantages. The number of stocks handled by regular staking is small, and it cannot be operated unless it is a major currency.

Locked for a certain period of time

Term staking is similar to fixed deposit. With regular staking, the deposited assets are locked for a certain period of time and cannot be withdrawn. Users can choose from 30 days, 60 days, or 90 days. During this period, you will not be able to withdraw your deposited virtual currency even if there is a sudden price fluctuation.

high annual interest rate

On the other hand, regular staking, which is locked for a certain period of time, has a much better yield than accumulation. As a result, annual interest rates tend to be high. However, it is important to note here that the yield depends on the coin of the virtual currency, so it will change depending on which coin you choose.

There are few brands

The biggest disadvantage of regular staking is that the number of coins is very small. Although they are all major coins, there are still far fewer options compared to savings, so many users feel a little dissatisfied.

Risk of staking

Staking also comes with risks. Although we have only mentioned the benefits above, please be aware of the following points.

potential crash

To begin with, staking is a type of investment. There are no absolutes when it comes to investing, so prices can go up and down. Of course, if there is a market crash, you will incur a loss, so there is no guarantee that you will always make a profit.

Can’t withdraw funds in the middle

The risk of staking is that you will not be able to withdraw your funds midway through. The difficulty with staking is that there is not much freedom. Since you cannot withdraw funds midway, you cannot cut your losses even when the virtual currency is plummeting.

Popular staking deadlines soon

In some cases, staking is only available for a limited time. In most cases, it is a popular coin, so there are cases where the deadline comes quickly and you miss the opportunity even though you were thinking about doing it.

staking yield

The interest rate is as follows, but as pointed out above, the disadvantage is that there are almost no virtual currency that can be deposited in the case of a fixed term. But the profit margin is higher than regular.

Currencyreserve stakingregular staking
BTC0.59%30day:0.95% 60day:1.5%
ETH1.2%30day:1.5% 60day:1.75%
USDT2.15%30day:4% 60day:4.25%
DAI1.98%30day:2.5% 60day:3%

Difference between installment and periodical

There are the following differences between accumulated staking and regular staking.

Accumulated staking does not require a period setting

As mentioned above, accumulation staking does not require setting a period. You can keep it forever and you can withdraw it anytime. If a large price change is expected, many people may be uneasy, so you can refund it once.

Regular staking has a high interest rate

Regular staking has a fixed staking period. This is a disadvantage, and the assets deposited during that time are locked. Refunds are not always possible. It is not recommended for anyone other than those who have decided not to sell the currency even if the market price fluctuates. However, it is a big advantage that the interest rate is higher than the savings.

how to stake

A Bybit account is required to start staking. If you have not yet opened an account, please do so.

Log in to Bybit and select “Finance” → “Asset management” → “Bybit staking” on the management screen.

Source : https://www.bybit.com/

Select a virtual currency.

Source : https://www.bybit.com/

Please choose your favorite plan.

Source : https://www.bybit.com/

Frequently asked questions about staking

Staking is something that people who are not familiar with virtual currencies may not understand very well. We have compiled a list of frequently asked questions.

How to release staking

Bybit staking can be canceled from the asset management page in the account menu. Select “Asset Management Order” from the user icon to access the Bybit Staking order page. You can cancel staking by pressing the refund button on the far right of the brand from the staking order page.

staking frame

Bybit’s staking service has available quotas for each stock. Therefore, it is not possible to do it anytime, and it is a first-come, first-served basis. Please note that for popular stocks, the slots fill up quickly, so you may have to wait until the slot is available.

Is staking risky?

Of course, no investment is 100%. If the coin falls while staking, the value will inevitably fall. Unfortunately, if this happens, you will incur a loss, so be careful.

When will I receive my daily income?

Daily profits from accumulated staking will be entered into the asset management wallet at 9:00 am Japan time every day. Regular staking profits will enter your asset management wallet at 9:00 am Japan time the day after the staking period ends.

Can I withdraw my staked virtual currency at any time?

Only accumulated staking can be refunded at any time. Regular staking can only be refunded within 30 or 60 days. Therefore, when staking, you must decide in advance how to proceed while looking at the market price.

Does staking support compound interest?

Bybit staking does not support compound interest.