What is Bybit Exchange, and how does it work?

Bybit Exchange is a cryptocurrency derivatives platform established in March 2018 that offers traders the opportunity to trade various perpetual contracts with high leverage. It primarily caters to professional traders who seek to engage in leveraged trading of cryptocurrencies such as Bitcoin, Ethereum, and several other altcoins. The way Bybit works is through a peer-to-peer (P2P) trading system which allows users to buy or sell contracts without the need for an intermediary. Traders can speculate on the future price of digital assets by going long (buying) if they anticipate prices will rise, or short (selling) if they expect prices to drop. Bybit offers features like advanced order types, high liquidity, strong security measures, and a user-friendly interface, aiming to provide a robust and efficient trading environment.