Ben Zhou on the crypto exchange’s eventful fourth birthday.
Dubai, United Arab Emirates, Dec. 14, 2022 — Ben Zhou, co-founder and CEO of Bybit, the world’s third most visited crypto exchange, shares his crypto journey and vision for the future on Bybit’s fourth birthday.
“Bybit was born in the bear market, so I’m confident despite the challenging times we have faced as a company and industry,” Zhou says. “They call it ‘crypto winter,’ which is apt because — on the outside, everything is frozen and icy — but beneath the surface, growth is happening.”
Zhou announced a series of events for Bybit’s birthday in December, including over 1,000,000 USDT (USDT) in giveaways for Bybit users and gifts from Bybit and partners like Borussia Dortmund. The CEO will also be giving his biannual keynote speech on Dec. 28 via livestream.
Bybit’s motto is “listen, care and improve,” and it was only through dogged determination and a relentless focus on customers and products that the team has been able to create one of the world’s top crypto exchanges, attracting over 10 million users.
“We couldn’t have done it without our community of users and friends,” Zhou says. “So our birthday party is for them, to thank them for their support.”
Zhou created Bybit as a crypto derivatives trading platform in 2018 with a small group of technological and financial veterans, a bold move considering the market for crypto derivatives barely existed back then. His do-it-yourself ethos remains strong. This year, Zhou and his team created the first USDC-settled options trading platform for Bitcoin (BTC), Ether (ETH) and SOL (SOL) contracts.
Further, Bybit unveiled a suite of algorithmic trading bots for spot and futures trading plus dollar-cost-averaging buys. They sit alongside copy trading products to help users optimize winning trading strategies irrespective of market conditions.
“It’s been four years, and we have completed an entire cycle in the crypto market, so now is a natural time to take stock of where we have come from and where we are going,” Zhou says. “The industry faces many challenges following the intense deleveraging and shockwaves that have hit our industry this year.”
“Some people question if there’s any value in blockchain technology, but for me, it is clearly where the future is headed,” Zhou says. “The efficiency gains alone are staggering, not to mention trustless systems that delete the need for intermediaries.”
“That’s why we focus on making Web3 accessible to everyone. We call ourselves a ‘crypto ark’ because we are here for all people; our mission is to democratize financial services.”
For Zhou, usability is key to Bybit’s Web3 push. “Usability has to be our number-one priority because it is the main sticking point for onboarding new people into crypto,” he says.
“We built Bybit because there was a gap in the market for user-friendly crypto trading platforms. A lot has changed in four years, yet initiative and simple UI has always been a priority for Bybit, no matter how advanced our platform and products get. If anyone hasn’t tried Bybit, they should check it out to see what I am talking about,” the CEO says. “And we are bringing our signature style and simplicity to the decentralized world via our new Bybit Wallet.”
The new Bybit Wallet safely holds crypto assets in custody while providing easy access to top-tier decentralized finance, nonfungible tokens (NFTs) and decentralized autonomous organizations (DAOs). The wallet will make the transition to Web3 smooth sailing for institutions, traders and beginners. “Our mission is to help make Web3 as inclusive as possible. It should be an open space, and we are here to take away intimidating jargons and technical barriers for everyone,” Zhou says.
“Yes, times are hard right now,” Zhou says. “But I say there are still opportunities for those who can stay the course. This is our second bear market at Bybit, and we’re leveraging our four years of experience to build the next generation of crypto exchange.”
Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.
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