Everything you need to know about the Bybit exchange platform.

Before you start trading on Bybit or any other platform, it's essential to have good risk management and a trading strategy tailored to crypto-currencies.

This comprehensive guide will provide you with all the information you need about using the popular Bybit trading platform.

What is Bybit ? :

Founded in March 2018 by former Wall Street traders and headquartered in Dubai, Bybit now has more than 20 million users worldwide..

Today, Bybit is accessible in over 160 countries, excluding the United States, Canada, United Kingdom, Singapore, mainland China, and a few other countries.

This wide availability makes it a platform of choice for many international traders looking to invest in cryptocurrencies and related derivatives.

According to CoinGecko, Bybit is the second largest derivatives platform in the world, just behind Binance.

Bybit's success is largely due to its extensive product range, low trading fees, remarkable market depth and exclusive bonuses.

How do I create a secure account on Bybit ? :

To start trading on Bybit, you first need to create an account by providing some basic information. To do this, fill in your details with a secure password of at least 14 characters, including letters, numbers, special characters and capitals.

Then activate two-factor authentication (2FA) via the Google Authenticator application. You can also opt for other advanced protection measures such as the fund password, USB key authentication and the anti-phishing code setting.

Check your identity to access all features :

In order to access all of Bybit's trading features, including cash deposits/withdrawals, you will need to go through an identity verification process. Follow the instructions on the "Identity and Verification" page to submit valid identification (passport, driving licence, etc.) and a selfie with it. This KYC (Know Your Customer) process is quick and efficient, usually taking no more than a minute.

After Level 1 verification, you will have no limits for peer-to-peer trading, a deposit limit of $5,000 per day and a withdrawal of up to 50 BTC per day.

For higher limits, you can upgrade to Level 2 by providing proof of address.

Now that your account is secure and verified, you're ready to deposit crypto-currencies and start trading on Bybit with confidence.

Unified account vs. standard account :

By default, you will have a standard account with separate funds for spot, derivatives and stablecoins. The Unified Trading Account (UTA) offers more flexibility by allowing you to use your assets as collateral to trade other markets.

However, Bybit offers you the option of a much more flexible Unified Trading Account (UTA). With the UTA, you can use the value of your crypto assets held as collateral to trade on other markets, without having to sell them. For example, if you hold BTC, you can use their USDT counterparty as collateral to open a position in USDT perpetual contracts. A much more practical and profitable option than the standard account!

How to buy cryptos easily ? :

Once you've set up your accounts, it's time to decide which crypto-currencies to trade.

Start by taking a close look at the various markets directly via the Markets tab on Bybit or on reputable data aggregators such as CoinGecko and CoinMarketCap.

On these platforms, you can easily identify the cryptos that are trending the most at the moment, as well as those showing the biggest rises or falls over a short period.

Don't overlook recently listed tokens either, which often represent an opportunity for quick exponential gains.

To buy crypto on Bybit, the Convert feature is the easiest. It allows you to instantly exchange one asset for another (e.g. BTC for XRP), free of charge.

Alternatively, you can place conventional orders on the spot market, directly from the Trade tab using the advanced TradingView charts.

How do I remove my bottom ?

The process of withdrawing your funds from Bybit is quick and easy, whether for cryptos or fiat currencies. It's all done from the Assets > Funding Account tab on your dashboard.

Click on the "Withdraw" button in your Bybit account, then select the currency you wish to withdraw.

- Select the network of your choice (e.g. Bitcoin, Ethereum, polygon etc.).

- Check that your account details are correct, including your email address and password.

- Confirm the withdrawal of your funds by clicking "Withdraw" again.

- Check your bank account to ensure that the funds have been transferred correctly.

Bonus:

How to earn cryptos for free with the Bybit Launchpool ?

Launchpool is a Bybit product, offering you the opportunity to earn tokens from new projects for free.

By staking various crypto-currencies such as $MNT, $USDT, USDC or even project tokens, you can get free tokens from fledgling projects.

The staking period is generally short but with a higher rate of return than traditional staking, this can enable you to generate passive income. Another advantage is its flexibility, as your tokens can be unlocked at any time to suit your needs.

Bybit offers additional tools :

BybitCloud : This is a cloud service that lets you execute automated trading strategies via robots and APIs. Ideal for advanced algorithmic trading.

Options : As well as futures, you can trade options on Bybit. Crypto options allow you to bet on price rises and falls with limited risk.

Mining portfolio : Bybit has a special wallet for miners that allows them to deposit their mined BTC/ETH rewards directly.

As you can see, Bybit offers a truly comprehensive range of tools and services for traders of all levels.

Its user-friendly interface, low fees and high liquidity make it a popular choice.