"Being able to help users make money is the true core of Bybit's appeal to users."

Written by: Deep Tide TechFlow

The competition among exchanges is intensifying, with leading exchanges engaging in internal competition across various dimensions such as product features, marketing, and service response.

As Bybit launched its US stock trading feature and was widely discussed in the community for its "0-minute response," we had an in-depth and lively conversation with Tina, the newly appointed head of Bybit's Chinese market.

From being a traffic entrepreneur in traditional internet to spending six years building a complete growth system for OKX, and now to Bybit's "0-minute response," what we can feel from Tina is not only her professionalism, standardization, and sensitivity in market work but also her vigorous pursuit of "efficiently connecting with users and providing better services."

After officially joining Bybit, Tina quickly adapted to the work pace, admitting:

I was moved by the respect Ben and Helen showed to employees, and the full empowerment and support from the Bybit team activated me.

When discussing the widely joked "0-minute response," Tina provided a novel perspective on turning the joke into reality:

Although the 0-minute response started as a joke, it has now become a goal pursued by Bybit. Moving forward, our internal team will use 0-minute response as a standard, and if we fail to achieve it, everyone can come to me at any time. Moreover, in the future, every joke raised by Chinese users will become a target for our growth!**

Regarding Bybit's future major moves in the Chinese market, Tina revealed:

Being able to help users make money is the true core of Bybit's appeal to users. We are committed to genuinely helping everyone make money through various financial services, such as: discovering quality assets; developing various trading and financial products; providing rich rewards, competitions, etc.; our core advantages are rich financial combinations and arbitrage opportunities; in the future, we will open the maximum permissions for everyone, including providing customized arbitrage products for traders. Through this deep communication with trading users, we will optimize Bybit's entire trading product together and help everyone make money.

In this issue, let us follow Tina's perspective and delve into Bybit's growth strategy, talent strategy, and product iteration path against the backdrop of fierce competition among leading exchanges.

Key Points:

• Integrating into crypto through social media is currently one of the best ways for newcomers to enter the space. You should first learn to showcase and express yourself in this industry to prove your cognitive ability, learning ability, and ability to handle pressure.

• The influence of personal IP is gradually increasing and may even surpass that of institutions in the future. Consider increasing investment in personal IP operations in the future.

• The beginning of an era led by formal brands will provide users with more security. The benefits of leading brands are becoming increasingly evident, and compliance will accelerate the deflation of the entire industry. The entry of formal players from traditional finance will bring more capital, challenges, and growth to crypto.

• Offline events must achieve both brand and effectiveness. To do well in word-of-mouth marketing, it is crucial to consider: whether the invited participants are precise enough, whether the conveyed content is deep enough, and whether there are actionable points for future cooperation.

• Bybit may not have focused much on marketing before, but it understands trading very well. Bybit's core logic is how to help employees, users, and partners make money.

• In the atmosphere of the Bybit team: when you want to do something, all forces will focus on the person who wants to get things done.

• Bybit's upcoming actions in the Chinese market include three aspects: first, collaborating with a large number of partners to quickly establish channels; second, significantly improving service quality both online and offline; third, clearly identifying core issues and continuously iterating on "how to help users make money."

• The US stock trading feature is actually conducted through CFD channels, which is different from directly investing in US stocks. Bybit has opened channels for users to fully utilize the advantages of the crypto market to invest in gold, forex, and US stocks. Now users can directly invest using their USDT in their Bybit accounts.

• Although the 0-minute response started as a joke, it has now become a goal pursued by Bybit. Moving forward, we will have measures such as AI customer service robots, ultimately turning the 0-minute response from a joke into reality. If we fail to achieve this, everyone can come to me at any time.

From 0 to 1: Offline Events Truly Deepened My Understanding of the Chinese Market

Deep Tide TechFlow: First, please introduce yourself, Tina. I'm curious about your crypto journey.

Tina:

Hello everyone, I am Tina, the head of Bybit's Chinese market.

My crypto experience is quite simple; I spent six years at OKX. From 2015 to 2018, I was involved in marketing growth and traffic services in the web2 startup space. At that time, OKX needed people with rich brand and growth experience from the traditional internet field, so I joined OKX.

After joining OKX, as a newcomer to the industry, I didn't understand the sector well; I was thinking about what I could do for the exchange business. At that time, the domestic 101 program was very popular, so I planned the "OK Innovation 101 event," aiming to build OKX into an ecological platform. Our team of three traveled to many cities in the Chinese-speaking region to hold events, organizing over 20 events in a year, each with hundreds of participants, connecting local users, media, communities, and entrepreneurs. Through this process, I truly understood crypto, deeply engaged with the Chinese-speaking user base, and quickly integrated into the industry.

Once integrated, I began to carry out specific business operations. At that time, exchanges focused more on institutional and large client services, but since I came from the internet, I clearly understood the value of retail users to platform business. Therefore, I built a complete growth system around retail business, brought in many top web2 traffic cooperation resources, and promoted "OKEx's node commission" through city partners. Many people were skeptical at the time, thinking it was begging for business, but I preached daily, explaining this intermediary business's income model that would grow larger over time. Eventually, almost everyone in the industry knew about it, and many who kept up with the trend made a lot of money from this business. Many exchanges also began to actively promote exchange commission business. Meanwhile, I also introduced many internet traffic service providers who had previously never traded crypto into the entire crypto industry.

That sums up my six years at OKX, where I was always related to growth and user service, building a complete user growth system and nurturing many excellent partners, who have now grown into the backbone of various leading exchanges.

In April 2024, I left OKX, saw the rapid development momentum of DEX on-chain business, and felt it was a great opportunity, so I started my own venture, participating in an on-chain trading business project, also responsible for the marketing and growth aspects I excel in.

Fast forward to April this year, I attended Bybit's Bali event, and after interacting with Bybit's core team, I felt that the platform's development speed and comprehensive advantages exceeded my expectations. Later, I chose to join Bybit, starting a new phase in my career.

Deep Tide TechFlow: Previously, in my understanding of marketing, offline events had a low cost-effectiveness because they require more effort, but the one-time reach of the right audience is less compared to online events. However, it seems that many projects are now focusing on offline marketing, and many offline events can indeed break through some bottlenecks.

So I would like to ask you to share what you think are the core advantages of offline marketing? Why are so many people willing to do more and more offline events now?

Tina:

First of all, the Chinese-speaking market itself has many bottlenecks in public domain promotion. In some sensitive and important topics, public domain cannot be disseminated, but in private domains and offline, you can spread the message. This is the convenience of offline and private domains.

Secondly, we can actually break down the marketing line into two: one is public marketing, and the other is word-of-mouth marketing. Word-of-mouth marketing is very close to the relationship with users. Knowing you and being willing to cooperate with you are different behavioral paths. Many brands will engage in offline marketing, but if not done correctly, it can backfire.

For example, is simply sponsoring someone else's event considered word-of-mouth marketing? I don't think so. To do well in word-of-mouth marketing, it is crucial to consider whether the invited participants are precise enough, whether the conveyed content is deep enough, and whether there are actionable points for future cooperation. These three points are very important; offline events must achieve both brand and effectiveness, otherwise, it would be a waste.

Finally, I believe that online and offline events are a combination. When we do offline events, we also engage in online promotion, organizing a lot of materials for participants, KOLs, etc., to share. After a complete process, whether in terms of exposure or conversion, the overall cost-effectiveness is quite high.

Socializing is the best way for newcomers to enter the space; having no limits is Bybit's talent strategy.

Deep Tide TechFlow: I also attended the Bali event, and the atmosphere was great, with everyone communicating sincerely.

You mentioned earlier that you initially didn't have much crypto experience, which is equivalent to a process from 0 to 1. Now that crypto is increasingly gaining traction, what development path suggestions do you have for newcomers wanting to enter crypto from 0 to 1?

Tina:

Many people have asked me this question. We find that there are many crypto newcomers on Xiaohongshu desperately submitting resumes in the job section. I receive many of them. I believe that integrating into crypto through social media is currently one of the best ways for newcomers to enter the space, because the work logic of Web3 is very different from that of Web2. The decentralized nature of Web3 allows everyone to freely express their opinions, so you should first learn to showcase and express yourself in this industry to prove your cognitive ability, learning ability, and ability to handle pressure. You can become a small blogger or a community leader; I think these are great ways to showcase personal abilities.

Of course, the above discussion is more about brand-type positions. For technical roles, there are also many hackathon events, offline meetups, etc. in crypto, especially various public chains. For example, Solana recently held a Demo Day in China, and such events are very friendly to developers.

But one phenomenon I have observed is that many friends are quite anxious. With relatively insufficient industry skills, they are eager to get into big companies, sending resumes to large firms every day or leveraging connections to inquire. I suggest that everyone take a moment to settle down, because you need to make your resume stand out, for example, if you have excelled in a particular project that aligns well with the skills required for the position you are applying for. For instance, a BD role requires matching client resources, while a technical role needs some research and development experience as a foundation; only then will the platform consider giving you a chance. Moreover, some newcomers who have performed exceptionally well are highly sought after by various companies.

Deep Tide TechFlow: Speaking of this, there has been a lot of discussion recently about Bybit's management trainee program, so I would like to ask you to share Bybit's talent strategy.

Tina:

Since I haven't been with Bybit for long, my understanding of Bybit's talent program may not be comprehensive. However, from my own objective and neutral perspective, Bybit's talent program is very interesting and can be described as a career ceiling.

First of all, I feel that Bybit has a very rich age structure in its talent hierarchy: One characteristic of crypto is its appeal to young people. The best salespeople in Bybit's Chinese-speaking region are from the post-2000 generation, and we also have many outstanding young people in our management team, which is great as it provides many opportunities for the youth. At the same time, there are also many people from the post-80s and post-70s in the Bybit team. Our talent structure is very diverse, and we have no discrimination against talent or age. Even those who are often stereotyped in the workplace, like stay-at-home moms, are given opportunities to challenge themselves as long as they have the capability.

Additionally, Bybit's management is very flat. Even if you are a management trainee or a new BD, as long as you achieve results in your role, Bybit will not limit your development; your potential is almost unimaginable. At the same time, we do not believe that your income and rights will be higher just because you are in a management position. Many of our BDs earn far more than those in management roles, and the figures are astonishingly high.

Bybit's talent strategy is such a system. The boss is very willing to incentivize outstanding talent, but if the capability does not match, adjustments are made very quickly. I think in terms of hiring strategy, Bybit is very bold compared to all the companies I have joined in the past, effectively activating the team and making the entire company vibrant and creative!

The Rise of Personal IP: We Are Entering an Era Dominated by Formal Brands

Deep Tide TechFlow: Earlier, when you introduced your crypto experience, you mentioned that you felt a trend change in On Chain. Besides that, what other changes do you think the crypto market might undergo in the future? What reflections and adjustments might this provoke regarding market work?

Tina:

I think there are two changes worth noting.

One is the change in influence: Previously, influence was concentrated among institutions, but in this cycle, especially after the on-chain explosion, individual influence is gradually strengthening and may soon be on par with or even exceed that of many institutions. A representative example is Trump, who is clearly a charismatic figure with a rich and multi-dimensional image that resonates closely with users. This is related to the decentralized consensus characteristic of the crypto industry. Additionally, we can see that in the on-chain business, many leading figures help their trusted fans filter projects, somewhat like a personal influence listing, allowing fans to earn profits with a good level of sustainable returns.

I think this is a very interesting change. As market practitioners, we should consider whether to increase our investment in personal branding in the future. Currently, you will see many exchanges, including ours, exposing individuals more, as individuals represent the brand. Through long articles and fragmented viewpoints, individuals can quickly resonate with users and achieve a certain level of brand building.

The second change is the beginning of an era dominated by formal brands: I think the current crypto market is very similar to the stage when Alibaba transitioned from Taobao to Tmall. Tmall's sudden rise in less than a year was based on the rapid development of the Taobao brand, which began to engage in more standardized operations. This marks the beginning of the brand era. Companies that previously did not invest enough in brand building will need to do so extensively moving forward. If they do not, there may be short-term fluctuations that create value space, but they will likely disappear quickly.

For crypto, I believe we must try to benchmark against many traditional business models from the past, including talent structure, business structure, cash flow, market strategy, and snowball cycle benefits. Previously, due to the wild growth of crypto, people did not consider these aspects much, but now everyone should start thinking about them.

In the upcoming two to three-year change cycle, we will see many bubbles burst on the beach, just as there was a deflation cycle in the early internet era. The intervention of compliance will accelerate this deflation cycle, and the entry of formal players from traditional finance will bring rigorous logic, mature experience, and their advantages in scale and compliance to crypto, which will lead to more growth and attract more top talent.

Deep Tide TechFlow: I also feel that especially leading exchanges are increasingly moving towards specialization, and exchanges are indeed hiring many Web2 programmers or product managers, as they are more professional.

Additionally, from the exchange's perspective, we can see many actions promoting external spokesperson roles, creating more direct communication channels with users.

Tina:

I am also working hard to become a window between Bybit and Chinese-speaking users, and I hope everyone supports me, haha.

Deep Tide TechFlow: Regarding personal IP, it seems that the traditional world is similar. A very obvious change is that many previously silent behind-the-scenes bosses are now learning to operate their own IP and express themselves on Twitter.

A very intuitive case in traditional internet might be Lei Jun, whose powerful personal IP has indeed empowered the Xiaomi brand. Many people became fans of Xiaomi because they were fans of Lei Jun, and he has indeed become an important platform for Xiaomi's external voice. Similarly, Elon Musk abroad follows the same commercial logic.

Tina:

We may prefer multiple personal IPs and multiple windows to communicate with users. Many other team members are also very willing to accept Chinese interviews and other activities to interact with everyone.

When You Want to Get Things Done, All Forces Will Focus on You

Deep Tide TechFlow: After joining Bybit, how do you think your understanding of Bybit has changed compared to before joining? Do you think there are any misconceptions among Chinese-speaking users about Bybit?

Tina:

There are many. I must admit that I did not do enough homework initially. Before I joined Bybit, while preparing for my first communication meeting, I was surprised to discover that Bybit had already become the second-largest exchange in the world starting in 2024.

There were several points during the Bali event that deeply impressed me: there was a huge cognitive gap.

The first is the depth issue. At that time, Bybit's CEO Ben directly compared the depth of other exchanges on screen, and from the results presented, I found it to be very impressive.

The second is the completeness of Bybit's products. I have a Bybit account, and I can buy various financial assets. Of course, the current anchoring method for financial assets may still be quite crypto-oriented, but I believe there will be significant improvements as compliance progresses. Bybit is somewhat like Alipay, providing many comprehensive financial services. You can buy cryptocurrencies, various assets including US stocks, and you can also use your card for offline consumption. In terms of global financial infrastructure, Bybit is truly doing an excellent job.

Additionally, the entire logical system of Bybit is somewhat different from my previous understanding of exchanges. Bybit's core logic is how to help employees, users, and partners make money. Bybit has many financial arbitrage products and understands trading very well. For example, the yield on USDE interest-bearing products is better, the capital efficiency of the chain lending products is higher, and a series of wealth management products can genuinely allow novice users to earn a 20% return in a year, and even higher if used well. I believe that if more people can experience Bybit's products, they will quickly come to like it. Many institutions and large clients are very fond of using our products.

Another very important point is that many Chinese-speaking users' understanding of Bybit may come from fragmented information on Twitter. We are actually a rather unpretentious team, focusing on doing our products and services well. Bybit is not a company that excels at marketing, but we are working hard to improve, and we are certainly doing better than before. Overall, we just hope to build a solid financial infrastructure and achieve global financial freedom. Our markets are distributed across various countries, dedicated to promoting financial inclusivity.

Deep Tide TechFlow: You have shared that you were impressed by the respect Ben and Helen showed to employees during your onboarding process, and that you felt energized after officially joining. Could you share some examples that left a deep impression on you?

Tina:

As someone who has entrepreneurial experience in both Web2 and Web3, I can feel that regardless of whether it is traditional internet or the crypto space, the management often has a strong sense of rules, or perhaps it is inappropriate to say it is class-based, but Bybit does not give me that feeling.

When I first spoke with Ben and Helen, they did not say, "Do you want to come work for me? I will give you an opportunity, I will give you a job…" Not at all. The entire communication was very equal. The boss would stand at the same level as you, telling you what kind of business this is, what we have done, what we still need to do, and inviting you to join in this endeavor. This way of speaking and the details in the perspective of thinking make you feel like a respected partner, joining together to build the business.

Then, in a meeting about a week after I officially joined, I might still have some habitual thinking as a Chinese person, thinking that as a newcomer, I should not change anything but rather offer some optimization suggestions. So my first observation and plan were very conservative. At that time, Ben directly told me not to set limits and to be bold in my actions. He said that this market and business are entrusted to me, and I am the person in charge. I just need to let everyone know how to support me in achieving my goals.

Through this expression, I completely understood that we are starting a business together, and we must dare to think, dare to try, and dare to do. In fact, many companies are very contradictory in this regard; they want to empower employees but cannot fully do so. However, Bybit does not have this issue. The company allows me to immediately understand what I should do in the short term, getting straight to the essence, bringing more growth, better service, and a stronger brand. At the same time, other departments, including technology and content, can provide very efficient support, and all forces will focus on those who want to get things done. This is also an important reason why I, as a newcomer, can quickly adapt, because I can just charge ahead without any worries. I believe others in such an atmosphere will also feel activated.

Deep Tide TechFlow: I understand, it's about having sufficient trust, ample space, and abundant support, then supporting everything you want to do with various forms of assistance. Since you joined, could you share what major actions Bybit will take in the Chinese-speaking community in the future?

Tina:

Regarding this question, our team has had multiple discussions and has abstracted three main points.

The first point is that our business team will continue to pave the way, collaborating with a large number of partners, which may include traffic teams, quantitative companies, or communities and KOLs, to quickly establish channels and promote more people to collaborate with Bybit. We will provide our partners with excellent policies, numerous activities, and comprehensive support.

The second point is that we will focus on significantly improving service quality. I personally engage in customer service daily, even handling customer complaints at four in the morning. I believe this reflects a professional company's determination to provide better service. I lead by example, and my team often collects user issues from communities and social media. In the future, we may establish a dedicated public opinion team.

Additionally, our services are not limited to online; we also value offline interactions. We may plan a "Money-Making Story Meeting" to help everyone better understand Bybit's various arbitrage tools and products. We will also create lifestyle services, building a concept similar to Bybit Family, where everyone can gather for meals, fitness, etc., to create an efficient interactive service system, making everyone feel close to us, and ensuring that they can reach us anytime, whether online or offline.

The third step, which is also the most crucial, is to clarify why everyone chooses Bybit. This is also a question Ben asked me. Is it because of good service, abundant benefits, or something else? Ben's idea is that Bybit can truly help users make money, and that is the core. This is also the original intention behind my proposal for the "Money-Making Story Meeting," where everyone can share trading insights. Even some very skilled traders or trading communities can customize arbitrage products with us; if they have this idea, we will help them realize it. We will open the maximum permissions for everyone, including providing interest coupons and trial experience funds. Through this deep communication with trading users, we can optimize Bybit's entire trading product.

Deep Tide TechFlow: How do you view the importance of KOLs in marketing? What is the collaboration model between Bybit and KOLs? Are there any incentive policies you can share?

Tina:

This area is primarily managed by our Global Marketing colleagues, so I will just share some of my thoughts here, but more strategies will be announced by the Global Marketing team.

From my personal perspective, there are indeed some top-tier Chinese-speaking KOLs who are partners worth collaborating with and respecting. I am quite familiar with many of them, so I clearly understand that what we hope to see in our collaboration is a win-win outcome. On one hand, the content of our collaboration needs to be valuable in terms of communication, not just hard advertising. On the other hand, we hope our benefits and products can reach users through KOLs.

For example, I can operate the "Money-Making Story Meeting" plan, which can connect with many KOLs and third-party organizations, building a very open platform through this plan. We can have in-depth discussions about on-chain money-making opportunities weekly, and it doesn't necessarily have to be only about Bybit; we can discuss many hot topics, opportunities, and trends in the market. Then we can combine online and offline efforts, which is something I can do within my business scope.

New Growth Explosive Points Behind US Stock Trading Function

Deep Tide TechFlow: Next, we can talk about industry hot topics, especially the recent discussions about Bybit's US stock trading function. Some community members believe that the trading does not involve real US stocks, so I would like to ask you to share how Bybit operates the buying and selling of traditional assets like US stocks through USDT or other crypto assets.

Tina:

The US stock trading function can be seen as a traditional exploration we are making as a leading exchange in the crypto field. We are the first to take this step, but currently, the entire trading is still completed in the form of crypto pairs. You can understand it as trading US and Hong Kong stocks, but it is actually presented in the form of derivatives (CFD).

Regarding the operational logic behind this, my sharing may not be comprehensive, and in the future, we will have more official content to introduce it.

Deep Tide TechFlow: After the launch of this function, many people indeed want to try and understand it, and the significance it brings to the industry is very positive. Everyone thinks this is a good thing, but when they actually try it, they feel there is a difference compared to using US stock trading software directly.

Tina:

The US stock trading function is actually conducted through the CFD channel, which is different from directly investing in US stocks. Previously, Bybit users could only invest in crypto-related assets, but now Bybit Gold & FX has opened up channels for users to fully utilize the advantages of the crypto market to invest in gold, forex, and US stocks. Users can now directly invest using the USDT in their Bybit accounts. The core of Bybit's service is to help users make money, allowing users to choose their own channels for investment based on market conditions to achieve higher returns.

Currently, many professional users are engaging with these products; they look at both sides, buying crypto when there are opportunities and turning to US stocks or gold when crypto opportunities are temporarily insufficient.

Deep Tide TechFlow: We have noticed a trend that even within US stocks, there is a subdivision into crypto-related US stocks, and the intersection of these two groups is increasing. We often see discussions in the community where many users are both crypto users and US stock users. In the past, everyone might have used different apps to view them separately, but now if it can be realized on one software, it could be an important product demand and market trend, or a great growth point. We also see some traditional institutions, like Futu, doing some reverse crypto business, which I think is also a confirmation of this trend.

Tina:

I actually plan to take this product to have in-depth discussions with some traditional finance friends because their trading habits may differ from those of crypto users. Although this group is not very large, each person's trading volume is very high. I want to understand what kind of products they want through such exchanges and provide feedback to the company to iterate products that better meet user needs.

I believe the integration of crypto and traditional finance is a trend. We need a period of adjustment in this exploration, but indeed, whether it is KOLs, users, or institutions, the overlap between crypto and traditional finance will increase. I think there may be new explosive points hidden within this.

0-Minute Response: From Joking to Reality

Deep Tide TechFlow: For the last question, previously, Bybit's KYC team responded very promptly, and the communication was quite widespread. The community has also made many jokes about the "0-minute response," so I would like to hear you share the specific process Bybit went through in dealing with this matter.

Tina:

Here's what happened: One of our colleagues discovered the issue immediately and forwarded it to our work group. After seeing it, I quickly tried to contact the user who encountered the problem to understand the situation.

I remember it was a weekend, but the company immediately set up a group of over 20 people to investigate the issue department by department. The user's concern was whether the KYC information had been tampered with and whether there would be security risks afterward. We checked everything from technology to operations to customer thresholds, and ultimately found that it was indeed caused by the user's personal operation, but we won't disclose too much here due to user privacy protection.

Since it involved security, we took it very seriously. I said I must explain it clearly to everyone, so we issued an official statement. The "0-minute response" was actually a somewhat joking expression that ultimately became a meme among everyone. But I want to say that while the 0-minute response started as a joke, it has now become Bybit's goal. Moving forward, we will implement measures like AI customer service robots, aiming to turn the 0-minute response from a joke into reality. If we fail to achieve this, everyone can always reach out to me.

Deep Tide TechFlow: Turning a joke into reality, from the user's perspective, I think this will be a very interesting thing.

Tina:

In the future, we will find ways to turn every complaint and every joke into reality. In other words, every joke from users is an opportunity for us to improve. This is our attitude moving forward, and we will strive to do these things well.

Note: Bybit currently only opens its trading platform to overseas Chinese residents and does not provide services to residents of mainland China.

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