bybit exchange interview

Interview with Park Joseph of ByBit Exchange

Bybit is a is a top margin exchange that offers upto 100x leverage perpetual contracts. Lets learn more about it from this interview with one of Bybit staff.

1. Who are you and what is your presence in Bybit?
My name is Park Joseph, senior strategic partnership manager in Bybit. 
I manage Bybit’s strategic partners such as institutional traders, hedge firms and affiliate partners. 


2. Why was Bybit created, what crypto markets were missing?
Bybit was initially found by Ben Zhou, who was the sales director of xm.com , which is the largest forex exchange. 
He’s the one who grown xm to the size it is today. Ben saw the potential and future of Crypto space and he entered the market. 

Back when Bybit was started, crypto market was missing an exchange that has good liquidity and is client focused. 
Furthermore, many exchanges were lacking liquidity which meant that it’s of a big issue for clients when they want to enter or exit a trade at a particular price. 
Deep liquidity, customer focused and having no overload on an exchange were the major things Bybit wanted to provide to the market which it has accomplished. 
 
Bybit does have limited products compared to other top competitors like Ftx and Binance that has many pairs which clients can trade on
Despite having so few products, Bybit is still the top 3 in terms of volume and market share. This shows that Bybit truly focused on solving the problems which other exchanges are not able to provide. 
 

3. What’s special about Bybit vs other similar exchanges ?
We are the only exchange that’s truly client focused.
The only exchange that compensates the users when they suffer negatively due to wicks that occur in the exchange. 
Wicks do happen in all exchanges, but it happens the least in Bybit and compensates the users. 
 
In other exchanges, the exchange will simply announce the reason of the wick and there are no compensation.
 

4. Are you planning to add extra stuff to the exchange, what can it be?
We are adding Spot market, defi projects, cloud mining, MT4 to assist traditional forex traders and possibly our own exchange token in the future. 
Bybit wants to move from simply a derivative platform into a whole eco system of crypto space. 


5. How did you get into crypto ?
I had a dream of bitcoin going to the moon. hahah 


6. What are your predictions of BTC price in next year ?
I strongly believe in trading based on the bitcoin halving and using on chain data. 
Based on the past cycles, I do have personal opinion that BTC bull cycle is not over yet and that we still have some more push to make. 
BTC is likely to hit more than 100k within the next 1 year. [100k is being humble, it could be between 100k ~ 200k]. 

Of course bear cycle comes and it is likely to last about 1.5 ~ 2years before the next halving in the year 2024. 
All these are my thoughts and not financial advise. 
 
 

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