5 Best Ways to Earn on Bybit During This Bear Market

Cryptocurrency trading has resulted in astronomical gains for many people. However, given the current crypto market conditions, it may seem like losses are more common than gains. While many traders have lost money in the market downturn, others have found exciting ways to continue profiting from their cryptocurrency activities. Bybit is a reliable cryptocurrency exchange that has been popular amongst traders for several years. It is most well-known for its fast-matching engine, but it also offers several ways the best ways to earn in a bear market.

Best Ways to Earn on Bybit During This Bear Market

You may initially assume that the best ways to earn on a cryptocurrency exchange such as Bybit are by buying and selling cryptocurrencies strategically. However, crypto traders can also earn passive income as well as trading-based income on Bybit in other ways. A closer look at the best ways to earn on this exchange can open your eyes to the potentially lucrative possibilities.

Join a Crypto Trading Competition

One of the best ways to earn on this exchange is through trading competitions. Bybit hosts numerous crypto trading competitions throughout the year. These competitions typically have multiple winners, so the opportunity for savvy traders to win crypto assets is significant. The specific entry requirements, prize pools, rules and other critical factors vary by competition. Because of this, it is important to read the fine print before you get started.

Generally, however, a first-place winner may earn up to 1,000 USDT or more. Some competitions give you the chance to earn a prize each day of the event. Depending on the competition, those who place in the top 10 may also win prizes. Crypto traders compete to outperform other competitors, such as with the highest P&L percentage, largest trading volume or other factors.

How to Sign Up

The latest competition by Bybit is the Derivatives 15-Day Tournament in celebration of its 4th anniversary. The competition takes place from Dec 15 to Dec 30, 2022. All traders who have at least 200 USDT in their Bybit Derivative wallet can register, and the short registration process can be completed on the Bybit website. 

There is a 200,000 USDT prize pool for the Derivatives 15-Day Tournament. Tournament winners will be selected based on their P&L performance. Users can trade any type of Derivatives Contract, and only crypto traders with a Derivatives trading volume of $80,000 or more are eligible to win. 

Since the competition is held in part due to Bybit’s 4th anniversary, users who take part in the competition can also earn an extra $1,000,000 prize pool in the Bybit 4th Anniversary Lucky Draw. Users can stand a chance to walk away with a BMW, an iPhone 14 Pro, or $5 in BIT. 

Become a Master Trader

Skilled crypto traders who continue to perform well even in a market downturn may be successful at master trading. After you sign up to be a Master Trader, you will gradually grow a following of Copy Traders, especially when you have a proven track record of profits. Master Traders get a 10% return on their followers’ activities, making it among the best ways to earn in current market conditions. 

On Bybit, traders who are inexperienced or who want to easily increase their profits can also join as Copy Traders to copy the activities of a Master Trader to make profits. 

How to Apply

Becoming a Master Trader is a quick and easy process. You simply need to sign up for a Copy Trading subaccount on Bybit. After you have deposited at least 100 USDT into this account, you can start trading, building followers and earning money.

Start Copy Trading

For crypto traders who do not qualify to be Master Traders, Copy Trading is one of the best ways to earn on this exchange. Copy Traders essentially follow the trading strategies and activities of Master Traders, and have to pay 10% of their returns as a fee to their Master Trader. However, many Master Traders have produced in excess of 20–30% ROI over the last 90 days. While there is no foolproof way to secure trading profits in the crypto market, Copy Trading could help you to increase your overall ROI.

How to Get Started

Getting started as a Copy Trader on Bybit requires minimal effort. After logging into your Bybit account, navigate to the Copy Trading page under Trading Tools, which can be found in the navigation bar. After selecting a Master Trader to follow, you can execute active orders and copy trades.

Become an Affiliate

The Bybit Affiliate Program, not to be confused with the Bybit Referral Program, is also among the best ways to earn money on this exchange. After joining this program, you can use your influence as a Bybit affiliate and earn up to 50% in commissions for trading Spot, Futures and Options. You can earn an additional 5% commission if users trade Bybit Earn products, and another 10% if they sign up as a Bybit affiliate as well. 

But that’s not all, the Bybit Affiliate Program will also help you to grow your audience, provide you with timely compensation, and grant you access to worldwide networking events for you to meet like-minded individuals within the crypto industry. There are currently more than 100,000 affiliates across more than 80 countries.

How to Apply

To apply to become an affiliate on Bybit, simply complete the short application on the Bybit Affiliate website. This only takes a few minutes to do. Your application will be reviewed within a day, and you will be notified about the decision. Once you have been approved, you will receive an affiliate link which you can then share to start earning money.

Grow Your Holdings with Bybit Earn

Another one of the best ways to earn through Bybit is Bybit Earn. This is a management platform that offers several programs that have a higher yield with a lower risk. 

One of these products is Bybit Savings, which offers a guaranteed yield and accommodates a variety of cryptocurrencies. Dual Asset is another option that allows crypto traders to earn assets by correctly predicting the price direction of a specific cryptocurrency. Through Shark Fin, you can enjoy guaranteed principal with the ability to earn a yield. Another program offered through Bybit Earn is Launchpool, which allows you to earn a guaranteed return by staking your tokens. Liquidity Mining also presents the opportunity to earn by contributing your crypto assets to a liquidity pool.

How to Get Started

You can access all of the Bybit Earn products through the Bybit Earn homepage. In the top navigation bar, simply click on the Earn tab. This will reveal a dropdown menu for each of the products. You can review the current yield for all programs and decide how to allocate your assets.

The Bottom Line

Bear markets are associated with an increased risk of loss due to falling prices. However, Bybit offers numerous options for crypto traders to profit and earn passive income in the current market conditions. Take time to explore these options in greater detail today!