how to sell bitcoin on bybit

In the multifaceted realm of cryptocurrency trading, Bybit empowers users to effectively sell their Bitcoin holdings through a comprehensive, step-by-step guide.

Oct 25, 2024 at 11:39 pm

How to Sell Bitcoin on Bybit

Step 1: Create a Bybit Account

• Visit the Bybit website and click "Register" to create an account.
• Provide your email address, phone number, and create a password.
• Follow the on-screen instructions to complete the registration process.

Step 2: Enable KYC if Necessary

• If you intend to trade over specific limits, you may need to verify your identity by completing the Know-Your-Customer (KYC) process.
• Upload a government-issued ID and a proof of residency document.
• Bybit will review your submitted documents and verify your identity within 24 hours.

Step 3: Deposit Bitcoin into Bybit

• Log in to your Bybit account and navigate to the "Asset" section.
• Click "Deposit" and select "BTC" as the deposit currency.
• Copy the displayed Bitcoin deposit address.
• Send your Bitcoin from your external wallet to the provided deposit address.
• The transaction will be processed and reflected in your Bybit account within a few minutes.

Step 4: Navigate to the Trading Interface

• Once your Bitcoin is deposited, go to the "Spot Trading" section.
• Search for the "BTC/USDT" trading pair or select it from the dropdown menu.

Step 5: Place a Sell Order

• On the trading interface, select the "Sell" tab.
• Enter the amount of Bitcoin you want to sell.
• Set the desired sell price or choose from the available market orders.
• Click "Sell BTC" to place the order.

Step 6: Monitor Order Status

• Your sell order will be displayed in the "Open Orders" section.
• You can monitor the order's status until it is either filled or canceled.

Step 7: Withdraw Funds

• Once the sell order is filled, the USDT proceeds will be credited to your Spot Account.
• To withdraw the funds, navigate to the "Asset" section again.
• Select "Withdraw," enter the amount and withdrawal address, and initiate the withdrawal process.

Additional Tips:

• Use limit orders to control the price at which your Bitcoin is sold.
• Monitor market conditions and technical indicators to make informed trading decisions.
• Manage your risk by employing stop-loss orders or trailing stop-loss orders.
• Keep your withdrawal addresses safe and double-check before confirming.