Bybit contract operation process on mobile phone

With Bybit's mobile app, you can trade perpetual contracts on the go, allowing you to access the crypto markets from anywhere with an internet connection.

Nov 15, 2024 at 06:58 am

Bybit Contract Operation Process on Mobile Phone

Step 1: Download the Bybit Mobile App

• Begin by accessing the official Bybit website from your mobile phone.
• Tap the "Download App" button located at the bottom of the screen.
• Choose the appropriate app store for your device (iOS App Store or Google Play Store) to download and install the Bybit mobile app.

Step 2: Create a Bybit Account

• If you don't already have a Bybit account, tap the "Sign Up" button from the Bybit mobile app's login page.
• Provide the necessary information, such as your email address, country of residence, and desired password, to create your account.
• Verify your email address by entering the verification code sent to your inbox.

Step 3: Fund Your Account

• To trade perpetual contracts on Bybit, you'll need to deposit funds into your account.
• Tap the "Wallet" icon at the bottom right corner of the app's interface.
• Select the "Deposit" option and choose your preferred deposit method.
• Follow the on-screen instructions to complete the deposit process.

Step 4: Choose a Contract

• The Bybit mobile app offers a variety of perpetual contracts to trade. These contracts represent the underlying value of various cryptocurrencies, commodities, and indices.
• Tap on the "Contracts" tab at the bottom of the app's interface to view the available contracts.
• Tap on the contract you wish to trade.

Step 5: Place an Order

• Once you've chosen a contract, tap on the "Trade" button.
• The order placement screen will appear, allowing you to choose your order type, quantity, and price.

• Bybit supports multiple order types:

  • Market Order: Executes your order at the best available market price.
  • Limit Order: Only executes your order when the market price reaches or crosses your specified limit price.
  • Conditional Order: Executes your limit order when a certain condition, such as price or time, is met.
  • Stop Market Order: Triggers a market order when the market price reaches or crosses a specified stop price.
  • Stop Limit Order: Triggers a limit order when the market price reaches or crosses a specified stop price.

Step 6: Manage Your Position

• Once your order is executed, it will appear in the "Positions" tab.
• The positions tab displays the current status of your open positions, including entry price, current price, profit/loss, and margin utilization.
• You can manage your positions by adding or reducing your position size, adjusting your stop loss and take-profit levels, or closing your position entirely.

Step 7: Withdraw Funds

• When you're finished trading, you can withdraw your funds from the Bybit mobile app.
• Tap on the "Wallet" icon, click on the "Withdraw" option, and follow the on-screen instructions to complete the withdrawal process.

Additional Tips for Using the Bybit Mobile App

• Use a VPN for added security: Utilizing a VPN can enhance your privacy and protect your network connection while accessing the Bybit mobile app.
• Set up two-factor authentication (2FA): Enabling 2FA adds an extra layer of security to your Bybit account, requiring you to provide an authentication code from your phone in addition to your password when logging in.
• Monitor market conditions: Keep tabs on the latest financial news and market trends to make informed trading decisions. Use the Bybit mobile app's market analysis tools to stay up-to-date.
• Set realistic profit targets: Avoid being overly ambitious when setting profit targets to minimize potential losses.
• Use a stop-loss strategy: Implementing a stop-loss order helps protect your profits and limits potential losses in case of adverse market movements.
• Don't trade with funds you can't afford to lose: Only allocate funds to trading that you can afford to lose, ensuring that your financial stability is not compromised.