CEO of cryptocurrency exchange, Bybit, Ben Zhou shed some light on different factors affiliated with increased adoption of cryptocurrency.
Ben made this comment when asked if it’s imperative for institutions to embrace cryptocurrency.
He replied pointing out the fact that the crypto industry isn’t about investing. But, it focuses on providing a utility medium of payment. Thus, if it carries this out efficiently general adoption can’t be stopped.
Bybit CEO also spoke about the triggers institutional investors want to see in order to feel comfortable investing in the industry. Specifically, he said they revolve around improved infrastructures, proper regulations (which makes things hectic for the compliance department), and proper liquidity.
Besides, Ben pointed out that most institutional investors feel more comfortable working with traditional institutions due to the structure they possess. Hence, most of the times they only show interest in the tech (API) front.
Additionally, Bybit CEO noted some misconceptions about the cryptocurrency industry by institutional investors. Notably, Ben spoke about how some of them don’t understand its underlying mechanism.
ByBit is a derivative cryptocurrency trading platform. It emphasizes margin trading with up to 100x leverage. The platform competes with already established exchanges like BitMEX and Deribit, which offer similar futures products for trade. Thus, ByBit provides an exchange where users trade contracts that follow the cryptocurrency price. Not just actual cryptocurrency.
Importantly, ByBit offers a 100x leverage ETHUSD futures contract to the trade. This doesn’t exist on BitMEX.
Bybit also claims a “no server downtime” stating their system functionality availability lasts up to 99.99%.
Besides, Bybit promises…