Bybit Trading: How to Trade Crypto for Beginners

How to Register an Account on Bybit

Register Bybit account

1. Visit the Bybit Exchange website and locate the "Sign Up" option in the top right corner of the page.

2. Provide your email address or phone number for registration. Alternatively, if you prefer, you can also choose to sign up using your Google, Apple account.

3. A pop-up window will appear; complete the puzzle within it to prove you’re not a robot.

4. Enter the 6-digit verification code sent to your email or phone by Bybit.

Congratulations! You have now successfully established your Bybit account and gained access to your personal dashboard. You’re all set to explore and engage in trading activities.

Verify Bybit account: Step-by-Step Guide

To complete the verification process for your Bybit account, please follow these straightforward steps, which involve submitting personal information and confirming your identity:

Lv.1 Identity Verification

Step 1: Begin by clicking on the profile icon located in the upper right corner of the navigation bar, then select the "Account Security" page.

Step 2: Next, click on "Verify Now" next to the "Identity Verification" section under "Account Info" to access the Identity Verification page.

Step 3: Click on "Verify Now" under "Lv.1 Identity Verification" to initiate the identity verification process.

Step 4: Choose the country or region that issued your ID and select your identity document type for uploading proof of identity document(s). Then, click "Next" to continue.

Important Notes:

• Ensure that the document photo clearly displays your full name and date of birth.
• If you encounter difficulties when uploading photos, make sure that your ID photo and other information are clear and unaltered.
• You can upload documents in any file format.

Step 5: Complete a facial recognition scan using your laptop camera.

Note: If you face issues progressing to the facial recognition page after several attempts, it may be due to non-compliance with document requirements or excessive submissions within a short time. In such cases, please try again after 30 minutes.

Step 6: To confirm the information you’ve provided, click "Next" to proceed.

Once we have verified your information, you will see a "Verified" icon in the top right corner of the Lv.1 window. This indicates that your withdrawal amount limit has been increased.

Lv.2 Identity Verification

If you require higher fiat deposit and crypto withdrawal limits, proceed to Lv.2 identity verification and click "Verify Now."

Bybit accepts only Proof of Address documents, such as utility bills, bank statements, and government-issued residential proof. Please ensure that your Proof of Address is dated within the last three months, as documents older than three months will not be accepted.

After we have successfully verified your information, your withdrawal amount limit will be increased. You can review the information you’ve submitted on the Identity Verification page by clicking the "eye" icon. However, please note that you’ll need to enter your Google Authenticator code to access it. If you identify any discrepancies, please don’t hesitate to contact our Customer Support.

How to Trade on Bybit?

Buy Cryptocurrency with Your Credit/Debit Card on Bybit

Embark on a hassle-free journey to buy cryptocurrency using fiat currency with Debit/Credit Cards on Bybit. Please bear in mind that before initiating your fiat transaction, it’s imperative to complete the Advanced KYC verification. Currently, Bybit supports payments via Visa and Mastercard.

Step 1: Click on "Buy Crypto" in the top left corner of the navigation bar, and select "One-Click Buy."

Step 2: If this is your first time using a credit/debit card for payment, kindly add your credit/debit card details.

Important Notes:

• You may be required to input your billing address. Please ensure it matches the registered address of your credit/debit card.
• Your bank account name must match your registered name on Bybit.

If you’ve already added your credit/debit card information, follow these steps to complete your purchase:

(Note: In this example, we’ll use EUR/USDT. Keep in mind that the exchange rate displayed on this page is approximate. For the precise exchange rate, please refer to the confirmation page.)

• Choose the fiat currency you intend to use for your payment.
• Select the cryptocurrency you wish to deposit into your Funding Account.
• Enter the purchase amount. You can specify the transaction amount in your desired fiat currency or cryptocurrency amount, depending on your preference.
• Pick the previously added credit/debit card.
• Click on "Buy with...".

Important Notes:

• The reference price will refresh automatically every 30 seconds to provide you with the latest information.
• When using your credit/debit card for payment, you may need to enter a CVV code for added security. Additionally, some transactions may prompt you to undergo 3D Secure (3DS) verification to further safeguard your purchase.

Step 3: Please verify that the details you’ve entered are accurate and then click "Confirm."

Step 4: The card payment will be processed.

Important Notes:

• When making payments with your bank card, you may be prompted to enter a one-time passcode or confirm the transaction through your Bank’s app. Please note that 3D Secure (3DS) code verification may be necessary in some cases to enhance transaction security.
• Typically, the processing of bank card payments is swift, often completed within minutes. Once the payment is successfully verified, the purchased cryptocurrency will be credited to your Bybit Fiat Wallet.

Step 5: Your order is now confirmed.

To check your balance, click on "View Asset." You will also receive updates on your order status via email and notifications if you’ve enabled them. For added security, set up Email Authentication by visiting "Account Security" and enabling Two-Factor Authentication.

You can also enable notifications in your Settings.

• The purchased cryptocurrency will be instantly credited to your account upon successful purchase completion.
• Should you wish to make another purchase, click "Buy" once more, and you will be redirected to the order page. To review your order history, simply click on "Orders" in the upper right corner for more details.

Buy Cryptocurrency via P2P Trading from Bybit

Here’s a step-by-step guide to help you, as a buyer, initiate your first Peer-to-Peer (P2P) transaction on Bybit:

Step 1: To access the P2P trading page, click on "Buy Crypto - P2P Trading" located in the top left corner of the navigation bar.

Step 2: On the Buy page, you can filter advertisers based on your preferences for Amount, Fiat Currencies, or Payment Methods, depending on your transaction requirements.

Notes:

• In the Advertiser column, the displayed order quantity and percentage refer to the number of orders made in the last 30 days and the completion rate in the same period.
• In the Limits column, advertisers have specified the minimum and maximum transaction limits per order in fiat currency for each advertisement.
• In the Payment Method column, you can see all supported payment methods for the selected advertisement.

Step 3: Choose your preferred advertisement, and click on "Buy USDT".

Step 4: Enter the amount of fiat you want to pay or the amount of crypto you want to receive, and click "Buy" to proceed. Upon redirection to the order page, you’ll have a 15-minute window to initiate the money transfer to the seller’s bank account. Make sure to double-check the accuracy of all order details before proceeding.

Additional Notes:

• P2P transactions exclusively utilize the Funding account, so ensure your funds are available there before initiating a transaction.
• Your bank account name must match your registered name on Bybit; discrepancies could lead to the advertiser canceling the order and issuing a refund.
• Bybit’s P2P platform does not impose any transaction fees on buyers or sellers. However, traders may incur transaction fees from the chosen payment provider.

Step 5: Once the payment is completed, click on "Payment Completed." A live chat box is supported, enabling you to communicate with sellers in real-time.

Step 6: a. Once the crypto you’ve purchased have been successfully released by the seller, you can click on "Check Asset" to view them, along with your transaction history. You can also check your order status from the P2P order history.

b. If the seller fails to release the crypto after 10 minutes, you can click on "Submit Appeal." Our customer support team will reach out to you. During this period, please do not cancel the order unless you’ve received a refund from your seller.

If you encounter any issues with your order, please send your inquiry via this form and specify your concerns. To help you resolve any problems more efficiently, please provide your UID, P2P order number, and any applicable screenshot(s).

How to Deposit Cryptocurrency to Bybit

If you have cryptocurrency in other wallets or platforms and want to begin trading on Bybit, you can transfer your assets to the Bybit platform.

Step 1: Start by clicking on "[Assets]" located in the top right corner and then select "[Deposit]."

Step 2: Choose the cryptocurrency you wish to deposit.

Step 3: Select the chain type that you intend to use. After acknowledging the information message, you’ll be provided with your Bybit deposit address. You can either scan the QR code or copy the deposit address to use it as the destination for sending your funds.

It’s crucial to ensure that the network you select matches the one chosen on your withdrawal platform. Picking the wrong network could result in the loss of your funds, which may be irrecoverable.

Different networks have varying transaction fees. You can opt for a network with lower fees for your withdrawals.

By default, the deposit will be credited to your Spot Account. If you want to change your default deposit account, you can do so in either of the following two ways:

1. Select the option to have deposits auto-channeled to your Spot, Derivatives, or other accounts.
2. Head to the Settings page under Accounts and Security to make the necessary adjustments.

 

Buy Cryptocurrency with Your Fiat Balance on Bybit

At Bybit, we provide support for various fiat currencies, including EUR, GBP, and more, enabling you to easily buy cryptocurrencies with your fiat balance. However, before you begin, it’s essential to enable Two-Factor Authentication (2FA) for added security. To set up 2FA, please visit the "Account Security" section and select "Two-Factor Authentication."

Here’s a step-by-step guide to help you buy cryptocurrencies using your fiat balance:

Step 1: Start by clicking on "Buy Crypto – One-Click Buy" located in the top left corner of the navigation bar to access the One-Click Buy page.

Step 2: Follow these steps to place an order:

For example, let’s consider BRL/USDT:

• Select BRL as the fiat currency for your payment.
• Choose the cryptocurrency you’d like to receive in your account.
• Enter the purchase amount. You can specify the transaction amount in terms of fiat currency or cryptocurrency, depending on your preference.
• Select "BRL Balance" as your payment method.

Step 3: Click on "Buy With BRL".

Note: The reference price will refresh every 30 seconds to provide you with the most up-to-date information.

Step 4: Verify that the details you’ve entered are accurate, and then click on "Confirm".

Step 5: Your transaction is now complete. The cryptocurrency will be deposited into your Funding Account within 1–2 minutes.

• To check your balance, click on "View Asset." You’ll receive updates on your order status via email and notifications if you’ve enabled them.
• You can also click on "Buy More" to be redirected to the order page.

For a detailed overview of your order history, please click on "Orders" in the upper right corner to access more information.

How to Open a Trade on Bybit via the Web App

Key Takeaways:

• Bybit offers two primary types of trading products — Spot trading and Derivatives trading.
• Under Derivatives trading, you may choose between USDT Perpetuals, USDC Contracts, USDC Options and Inverse Contracts.

Step 1:  Head over to the Bybit homepage, and click on Trade → Spot Trading on the navigation bar to enter the Spot Trading page.

Step 2: on the left side of the page you can see all trading pairs, as well as the Last Traded Price and 24-hour change percentage of the corresponding trading pairs. Use the search box to directly enter the trading pair you want to view.


Tip: Click on Add to Favorites to place frequently viewed trading pairs in the Favorites column. This feature allows you to easily select pairs for trading.

Place Your Order
Bybit Spot trading provides you with four types of orders: Limit Orders, Market Orders, Conditional Orders and Take Profit/Stop Loss (TP/SL) Orders.

Let’s take BTC/USDT as an example to see how to place different order types.

Limit Orders

1. Click on Buy or Sell.

2. Select Limit.

3. Enter the order price.

4. (a) Enter the quantity/value of BTC to buy/sell,
or
(b) Use the percentage bar

If you want to buy BTC, and the available balance in your Spot Account is 10,000 USDT, you can (for example) choose 50% — that is, buy 5,000 USDT equivalent of BTC.

5. Click on Buy BTC or Sell BTC.

6. After confirming that the entered information is correct, click on Buy BTC or Sell BTC.

Your order has successfully been submitted.

For traders who use the web, please go to Current Orders → Limit Market Orders to view order details.


Market Orders

1. Click on Buy or Sell.

2. Select Market.

3. (a) For Buy Orders: Enter the amount of USDT you’ve paid to buy BTC. For Sell Orders: Enter the amount of BTC you’ve sold to buy USDT.
Or:
(b) Use the percentage bar.

For example, if you want to buy BTC, and the available balance in your Spot Account is 10,000 USDT, you can choose 50% to buy 5,000 USDT equivalent of BTC.

4. Click on Buy BTC or Sell BTC.

5. After confirming that you’ve entered the correct information, click on Buy BTC or Sell BTC.

Your order has been filled.

For traders who are using the desktop web version, please go to Trade History to view the order details.

Tip: You can view all completed orders under the Trade History.


TP/SL Orders

1. Click on Buy or Sell.

2. Select TP/SL from the TP/SL drop-down menu.

3. Enter the trigger price.

4. Choose to execute at Limit Price or Market Price
— Limit Price: Enter the order price
— Market Price: No need to set the order price

5. According to different order types:
(a)

• Market Buy: Enter the amount of USDT you’ve paid to buy BTC
• Limit Buy: Enter the amount of BTC you want to buy
• Limit/Market Sell: Enter the amount of BTC you’ve sold to buy USDT

Or:

(b) Use the percentage bar

For example, if you want to buy BTC, and the available balance in your Spot Account is 10,000 USDT, you can choose 50% to buy 5,000 USDT equivalent to BTC.

6. Click on Buy BTC or Sell BTC.

7. After confirming that you’ve entered the correct information, click on Buy BTC or Sell BTC.

Your order has successfully been submitted. Please note that your asset will be occupied once your TP/SL order is placed.

For traders using the desktop web version, please head to Current Orders → TP/SL Order to view order details.

Note: Please make sure that you have sufficient funds in your Spot Account. If the funds are insufficient, traders who use the web can click on Deposit, Transfer, or Buy Coins under Assets to enter the asset page for deposit or transfer.

How to Open a Trade on Bybit via the Mobile App

Spot Trading

Step 1:  Tap on Trade at the bottom right to enter the trading page.

Step 2: Choose your preferred trading pair by tapping on the three horizontal lines icon or on the Spot trading pair in the upper left corner of the page.


Tip: Click on Add to Favorites to place frequently viewed trading pairs in the Favorites column. This feature allows you to easily select pairs for trading.

There are four types of orders available with Bybit Spot trading — Limit Orders, Market Orders, Conditional Orders and Take Profit/Stop Loss (TP/SL) Orders. Let’s take a look at the steps required to place each of these orders by using BTC/USDT as an example.


Limit Orders

1. Click on Buy or Sell.

2. Select Limit.

3. Enter the order price.

4. (a) Enter the quantity/value of BTC to buy/sell.
or
(b) Use the percentage bar.

If you want to buy BTC, and the available balance in your Spot Account is 2,000 USDT, you can (for example) choose 50% — that is, buy 1,000 USDT equivalent of BTC.

5. Click on Buy BTC or Sell BTC.

6. After confirming that the entered information is correct, click on Buy BTC or Sell BTC.

Your order has successfully been submitted. Traders using Bybit’s app can view order details under Orders.


Market Orders

1. Click on Buy or Sell.

2. Select Market.

3. (a) For Buy Orders: Enter the amount of USDT you’ve paid to buy BTC. For Sell Orders: Enter the amount of BTC you’ve sold to buy USDT.
Or:
(b) Use the percentage bar.

For example, if you want to buy BTC, and the available balance in your Spot Account is 2,000 USDT, you can choose 50% to buy 1,000 USDT equivalent of BTC.

4. Click on Buy BTC or Sell BTC.

5. After confirming that you’ve entered the correct information, click on Buy BTC or Sell BTC.

Your order has been filled.

Tip: You can view all completed orders under the Trade History.

For traders using Bybit’s mobile app, please click on All Orders → Order History to view order details.


TP/SL Orders

1. Click on Buy or Sell.

2. Select TP/SL from the TP/SL drop-down menu.

3. Enter the trigger price.

4. Choose to execute at Limit Price or Market Price.
— Limit Price: Enter the order price.
— Market Price: No need to set the order price.

5. According to different order types:
(a)

• Market Buy: Enter the amount of USDT you’ve paid to buy BTC.
• Limit Buy: Enter the amount of BTC you want to buy.
• Limit/Market Sell: Enter the amount of BTC you’ve sold to buy USDT.

Or:

(b) Use the percentage bar.

For example, if you want to buy BTC, and the available balance in your Spot Account is 2,000 USDT, you can choose 50% to buy 1,000 USDT equivalent to BTC.

6. Click on Buy BTC or Sell BTC.

7. After confirming that you’ve entered the correct information, click on Buy BTC or Sell BTC.

Your order has successfully been submitted. Please note that your asset will be occupied once your TP/SL order is placed.

For traders using Bybit’s app, please click on All Orders → TP/SL Order to view order details.

Note: Please make sure that you have sufficient funds in your Spot Account. If the funds are insufficient, traders who use the web can click on Deposit, Transfer, or Buy Coins under Assets to enter the asset page for deposit or transfer.


Derivatives Trading

Step 1: After logging into your Bybit account, tap "Derivatives" and select from USDT Perpetual, USDC Contracts, USDC Options, or Inverse Contracts. Choose one to access its corresponding trading interface.

Step 2: Pick the asset you wish to trade or use the search bar to find it.

Step 3: Fund your position by using a stablecoin (USDT or USDC) or cryptocurrencies like BTC as collateral. Select the option that aligns with your trading strategy and portfolio.

Step 4: Specify your order type (Limit, Market, or Conditional) and provide trade details like quantity, price, and leverage (if needed) based on your analysis and strategy.

While trading on Bybit, leverage can amplify potential gains or losses. Decide if you want to use leverage and choose the appropriate level by clicking "Cross" at the top of the order entry panel.

Step 5: Once you’ve confirmed your order, tap "Buy / Long" or "Sell / Short" to execute your trade.

Step 6: After your order is filled, check the "Positions" tab for order details.

Now that you know how to open a trade on Bybit, you can kick-start your trading and investing journey.
 

Conclusion: Bybit is a reputable and user-friendly platform for trading

Trading on Bybit can be a rewarding endeavor, but it’s essential to approach it with caution and a well-thought-out strategy. This guide provides you with the foundational knowledge needed to begin your trading journey on Bybit. Remember to start with a small position size, use risk management strategies, and continue to learn and practice to enhance your trading skills on Bybit.