How to open leverage in Bybit mobile version

By enabling leverage trading on the Bybit mobile app, traders can magnify their potential profits and losses, but they must carefully consider their risk tolerance and monitor positions closely.

Nov 12, 2024 at 08:56 pm

How to Open Leverage in Bybit Mobile Version:

1. Download and Install the Bybit App:

   • Visit the Apple App Store or Google Play Store and search for "Bybit."
   • Download and install the official Bybit app.

2. Create an Account:

   • Open the Bybit app and tap "Sign Up" to create a new account.
   • Enter your email address, set a secure password, and select your region.
   • Provide additional personal information and complete the verification process.

3. Enable Leverage Trading:

   • Once your account is verified, navigate to the "Settings" tab in the bottom menu.
   • Select "Leverage Settings" and toggle the switch next to "Enable Leverage."
   • Set the desired leverage level by adjusting the slider (e.g., 10x, 20x, or 50x).
   • Read and agree to the terms and conditions before confirming.

4. Note Important Considerations:

   • Determine the appropriate leverage level based on your risk tolerance and trading strategy.
   • Higher leverage amplifies both potential profits and losses.
   • Margin trading involves the use of borrowed funds and can result in significant financial loss.
   • Monitor your positions closely and manage risk effectively.

5. Open a Leveraged Trade:

   • Navigate to the "Trade" tab in the bottom menu and select the desired trading pair (e.g., BTC/USDT).
   • In the "Order" section, select "Margin" as the account type.
   • Choose an order type (e.g., Market, Limit, or Conditional).
   • Calculate the desired trade size based on your leverage level.
   • Preview the order details and confirm the trade.

6. Monitor and Manage Your Leveraged Position:

   • Once the trade is executed, it will appear in your "Open Orders" tab.
   • Keep track of profit/loss, liquidation price, and margin requirements.
   • Adjust or close the position as necessary to manage risk and secure profits.
   • Monitor market conditions and stay informed on price movements.

7. Disable Leverage When Needed:

   • If you no longer wish to trade with leverage, navigate to "Settings" > "Leverage Settings."
   • Disable the "Enable Leverage" switch to turn off leverage trading.
   • Once disabled, you will only be able to trade using your available spot balance.