Bybit is pleased to be recognized as the Best Cryptocurrency Market Exchange at the Cryptocurrency World Expo 2022. Industry leaders and rising stars in the blockchain and cryptocurrency community gathered at the two-day event in Warsaw, Poland from 9 to 10 March, 2022.
The award is a new milestone in Bybit’s compelling growth story from an emerging exchange for traders in 2018 to one of the most celebrated names for all crypto users around the world.
Bybit’s Bill Xing joined fellow panelists at a round table on financial instruments in the blockchain space. As Head of Financial Products at Bybit, Bill leads efforts in researching and designing innovative instruments at one of the world’s fastest growing exchanges.
Bill said he saw it as the duty of centralized exchanges like Bybit to lower barriers to entry for those ready to embrace cryptocurrency.
Since decentralized finance (DeFi) started gaining mainstream momentum in 2020, Bybit had been gearing up to capture a share of the growth, Bill explained. It is now home to the Bybit Earn, offering a hassle-free platform for eligible users to make the most of their cryptocurrency holdings at various risk and yield levels.
Individual users looking to participate in, say, liquidity farming, had to set up and maintain their own wallet. They also faced relatively high gas fees should they choose to use the Ethereum blockchain. Bill said as a centralized platform, Bybit has been focusing on these two aspects to optimize the DeFi user experience by breaking down barriers.
“At Bybit we simplify DeFi for the average user. They can put their assets on the platform, choose their risk appetite and let the platform do the work,” he shared.
“The DeFi space is filled with noise,” he added. At the Bybit Earn, Bybit scopes out qualified and promising projects to lessen the due diligence burden with in-house resources an individual user may not have.