How to use Bybit Exchange? Detailed usage tutorial

To initiate trading on Bybit, users must first register for an account and deposit funds into their wallet before executing trades via the "Spot" or "Derivatives" interface.

Oct 04, 2024 at 12:06 am

How to Use Bybit Exchange: A Detailed Guide

1. Sign Up for an Account

• Visit the Bybit website (bybit.com) and click "Register."
• Provide your email address, choose a password, and agree to the terms and conditions.
• Verify your email address by clicking the link sent to your inbox.

2. Deposit Funds

• Once logged in, click "Wallet" and choose "Deposit."
• Select the cryptocurrency you want to deposit and provide the wallet address or QR code.
• Follow the on-screen instructions to send funds to the deposit address.

3. Start Trading

• Go to the "Spot" or "Derivatives" tab.
• Choose the trading pair you want to trade, e.g., ETH/BTC.
• Enter the amount you want to trade and select the order type (limit, market, etc.).
• Click "Buy" or "Sell" to execute the trade.

4. Manage Your Trades

• To view your open orders, click "Orders."
• To edit or cancel orders, click the corresponding buttons on the order list.
• To view your trade history, click "History."

5. Withdraw Funds

• To withdraw funds, click "Wallet" and choose "Withdrawal."
• Enter the cryptocurrency you want to withdraw, the withdrawal address, and the amount.
• Follow the on-screen instructions to complete the withdrawal.

6. Advanced Features

Grid Trading:
Automates your trading by placing multiple limit orders at predetermined intervals.

Copy Trading:
Allows you to follow the trading strategies of experienced traders.

Margin Trading:
Enables you to borrow funds and trade with leverage, increasing potential profits.

Additional Tips:

• Set up two-factor authentication (2FA) for added security.
• Familiarize yourself with the different order types and trading strategies.
• Start with small trade sizes until you gain experience.
• Monitor market conditions regularly and manage your risk by placing stop-loss orders.
• Use the Bybit Academy and Help Center for support and educational resources.