• At the Cryptocurrency World Expo 2022, Bybit was awarded the Best Cryptocurrency Exchange Award.
• Two-day Cryptocurrency World Expo 2022 brought together giants in the industry and new companies interested in cryptocurrency and blockchain.
• Bybit’s Head of Financial Products Bill Xing said centralized exchanges such as Bybit must break down barriers to allow users in.

The Cryptocurrency World Expo 2022 awarded Bybit the Best Cryptocurrency Market Exchange Award. This event, which took place in Warsaw, Poland from March 9-10, gathered many of the top names and most promising companies within crypto and blockchain.

This new achievement adds to Bybit’s growing portfolio and acknowledgment as one of the most recognized crypto exchanges in the world. Bill Xing, Bybit’s Head of Financial Products, joined a roundtable discussion to share insights on financial instruments in the blockchain space.

Xing leads his team in researching and designing innovative instruments at one of the world’s fastest-growing exchanges. Xing stated that Bybit is responsible for lowering the barriers to cryptocurrency adoption.

Bill explained that Bytbit has been trying to take advantage of decentralized financial (DeFi), since it became mainstream in 2020. Bybit Earn is now available in the space and provides a platform that allows eligible users to maximize their crypto assets at different risk levels.

To participate in liquidity farming activities, for example, users interested had to create and manage their wallets. They also have to pay high gas costs if they choose to use blockchain. Xing stated that Bybit, a centralized platform has focused on these issues to enhance the DeFi user experience and break down any barriers.

We simplify DeFi for everyone at Bybit. Users can place assets and choose their risk tolerance on Bybit, then the platform will do the rest.

The DeFi space is filled with noise,” he added. Bybit’s Earn inspects potential projects and helps to ease the process of due diligence.

Through providing information, investor education and more information we try to reduce barriers to entry in all areas. On the product side, we try to make it more user-friendly for all age groups and skill levels,” he said.

In addition, DeFi markets are made easier by centralized exchanges which eliminate any technical hurdles.

Fiat integration is another bump in the crypto onboarding journey that centralized exchanges are working on,” Xing opined. The key factor for anyone considering cryptocurrency adoption is the availability of a secure, robust on-ramp or off-ramp.

Xing said that centralized exchanges have mainly used this feature. In addition, he expounded on users’ choice not being limited to “crypto or fiat” and that the users need secure gateways in both directions.

Bybit’s booth at the Expo exhibited its trading platform and welcomed hundreds of crypto enthusiasts from across the globe. In addition to the virtual session to an international audience, over 1,400 people were present in person.

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