Tradersamwise & Lat sat down recently and reflected on Tealstreet’s partnership with Bybit. The below is a summary of their discussion.
The History of Tealstreet’s Partnership with Bybit
It may come as a surprise to some but Tealstreet trading software existed for multiple years before Tradersamwise opened up the platform for the general public to utilize. Samwise coded the earliest versions of what is now known as Tealstreet back in 2019. Bybit was one of the two first exchanges integrated with full trading support. Sam’s trading on Bybit at this time was a major inspiration for building Tealstreet.
You can find Tradersamwise’s public recommendation of Bybit to others from as early as 2020.
March 22, 2020. Image Source Tweet
You can also find many clips on Tradersam’s Twitch that feature Bybit and Tealstreet dating back to as early as 2020.
Some example clips: Bybit WSOT 2020, Scalping on Bybit, More Scalping on Bybit, Bybit WSOT 2021, Bybit WSOT 2022.
Many more Tradersamwise Twitch clips are available here.
Tradersamwise began streaming more frequently in early 2021 and joined Bybit’s Affiliate program in January. Thanks to community feedback and demand, Sam decided to open up Tealstreet to the public as a beta platform. We think many would agree that Bybit’s Affiliate program has set the standard for the industry and pushed other platforms to innovate.
Thanks to Bybit’s program, Tealstreet was able to finance operational costs from the earliest days. It provided the crucial foundational monetization avenue and without it Tealstreet likely would not be where it is today.
Trading competitions, specifically Bybit’s World Series of Trading (WSOT) is another area where Bybit has led the market and pushed the industry towards major innovation. The Tealstreet team has participated in many if not most of Bybit’s competitions and we look forward to continuing this as long as possible.
Sam participated in Bybit’s earliest trading competitions including the Christmas 2020 ‘Jingle Brawl’ competition where he won approximately 0.3 Bitcoin and Bybit merchandise (sweater, socks).
Check the links below to see some of Tealstreet and Tradersamwise’s mentions of Bybit’s WSOT over the years:
From 2022: Tealstreet Team WSOT | Tealstreet WSOT Team Ranking
From 2023: Team Announced | Tealstreet Squad WSOT | Samwise trading WSOT via Tealstreet mobile web
From 2024: Collaborating with Salsa
Tealstreet also teamed up with Bybit to host Tealstreet’s first custom trading competition back in 2022.
March 12, 2022. Image Source Tweet
Bybit: Innovative, Reliable & Trustworthy
When discussing what they both consider to be Bybit’s major strengths, Samwise and Lat agreed that there were almost too many to choose from. However, they both noted that Bybit has continued to set the gold standard amongst centralized exchanges. It is clear that Bybit remains amongst the top most influential companies in the industry as they continue setting trends with their products and features.
Both mentioned that Bybit’s Customer Support hub has exceeded their expectations over the years, especially their CS chat which is available 24/7 and provides nearly instant connection to a real and highly knowledgeable support representative.
Sam & Lat both pointed to the leadership of Bybit, specifically their CEO Ben Zhou, as the most likely component of Bybit’s massive success. They noted that they really admire Ben’s response to the major exploit that happened recently with some of Bybit’s wallets including Ben’s press conference which demonstrated impressive speed with the opening of communication channels for real time updates.
Additionally, the broader Tealstreet team applauds the level of transparency shared by Ben in a recent follow up tweet on the incident. It is also worth mentioning that another smaller company is at least partially responsible for security flaws that allowed for such an exploit to be possible in the first place.
Furthermore, there are close to zero CEXs to highlight as having never lost customer funds. Bybit is one of the few examples of an exchange reimbursing and/or covering lost user funds in full with only very short and minor delays in withdrawals. The fact that the exchange remained operational despite the amount lost provides proof of their level of solvency.
Sam pointed out that the professionalism displayed by Bybit during the recent incident is not the only example. He said that it is also worth noting how well the company handled early liquidity issues in 2019 and 2020 where Bybit reinforced their commitment to users by refunding losses.
Both Lat and Samwise found Bybit’s handling of the security breach to be highly effective and has only reinforced their confidence and trust in both the exchange and the whole Bybit team.
It goes without saying that Tealstreet’s partnership with Bybit has only strengthened with time. We look forward to continuing this trend and we will continue to recommend Bybit to the Tealstreet community as a safe, reliable, and innovative exchange offering traders the best possible experience.
At Tealstreet, we believe Bybit has an even brighter future ahead and will only grow stronger and we are proud to be part of it.
Cheers to Six years of History with Bybit & Cheers to Many More Years 🍻
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