The cryptocurrency derivatives platform ByBit is celebrating Christmas with a special $290 Christmas Bonus. This comes as the crypto platform is preparing for a 2020 that looks to be just as exciting as 2019.
ByBit launches $290 Christmas Bonus that is only available until Christmas
ByBit has now been around for roughly a year. However, despite already supporting several cryptocurrency products and a world-class matching engine, ByBit shows no signs of slowing down now.
Rather, ByBit intends to intensify its efforts in 2020. Nevertheless, the cryptocurrency platform’s ambitious 2020 plan builds on what it has already been able to achieve during the past year. Most notably, ByBit is now offering a time-limited Christmas Bonus of $290.
According to ByBit’s CEO Ben Zhou, 2019 has been a particularly successful year for the company. With that said, however, ByBit’s success also brought unexpected challenges for the exchange.
“Keeping up with the growth both from a technical standpoint and internal management is the biggest challenge that we have faced,” Zhou notes. Specifically, this was the result of an unprecedented increase in users seen during 2019 and some of 2018.
“Because we’ve experienced over 100x growth from March ’18 to November ’19, we have had to constantly upgrade our systems to make sure we have no overloads and system lags,” Zhou said.
ByBit has big plans for 2020
Moreover, the cryptocurrency derivatives platform has seen an influx of users from all over the globe during the past year. This means that ByBit has also had to double down on recruitment, to meet the needs of different markets.
“We’ve also had to stay on top of recruitment, sourcing the right talent to make sure we provide the best customer support and localization to our various markets. Thankfully, our efforts have paid off: we haven’t had any server downtimes, no overloads during volatility and low latency trading.”
This internationalization is a conscious move by ByBit. Specifically, the platform is pushing hard to reach even deeper penetration in global markets. For example, it recently introduced language support for Korean.
This comes in addition to English, Chinese, traditional Chinese and Japanese – which are already supported. “We’re planning to move into the Thai, Vietnamese and Spanish markets as well as Turkey in 2020,” Zhou said, highlighting ByBit’s ambitious expansion plans in 2020.
In addition to this, Zhou also says that the Chinese government looks like it is beginning to embrace blockchain. This support seems to come from the top, as Chinese president Xi Jinping reportedly ordered “greater blockchain adoption”.
Zhou also said that the Chinese government’s newfound attitude towards crypto comes with several benefits.
“At the same time, the government is cracking down on illegal ICOs and scams, which is a positive thing for the whole space in China. The purge will get rid of the scam projects and leave the ones that are actually contributing to the space.”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.