Bybit is trying to diversify its products in the cryptocurrency field. However, is this the exchange that meets your needs? In this review, Crypto Trading will help you have a comprehensive view of Bybit. At the same time, it will also guide you in detail on how to open an exchange account on your computer and basic operations on this platform. Follow along!
Instructions for opening a Bybit account on a desktop/laptop
Below are detailed instructions on the account registration process on a computer:
Step 1: Visit the website
Visit the exchange’s official website at: https://bybit.com
Click the “Register” button.
Step 2: Fill in information
Choose a registration method for your personal preference: using a phone number or an email address.
Enter the email address/phone number to register for an account and password. In the referral code section, traders enter “ 55742 ” for the best support.
Check the box “By clicking Create Account, you agree to Term of Service and Privacy Policy” to confirm your agreement. Then, traders click on “Create Account”.
Step 3: Confirm the account
You will receive an email or SMS verification code to the contact information you provided. Enter the 6-digit verification code in the email to complete the registration process.
What to do before and after opening a Bybit exchange account?
To ensure that the process of opening an account goes smoothly and safely, you need to take a few steps before and after registering an account.
What are the conditions for opening an account and trading on Bybit?
To open an account and trade on Bybit, you need to meet some specific conditions. Here are the main requirements:
- Age: Traders must be 18 years or older.
- Country of Residence: It does not support account opening for citizens of certain countries. Make sure your country is not on the restricted list.
- Personal Information: Provide accurate personal information. This includes name, email address or phone number, and password.
- Identity Verification (KYC): You may need to complete the identity verification (KYC) process by providing necessary documents such as a national identification card (ID), passport, or driver’s license. Provide documents to verify residence. (This may include a utility bill or bank statement).
- Trading Knowledge: Understand the types of trading orders, analytical tools, and trading strategies to execute trades effectively and safely.
- Regulatory Compliance: Comply with regulations and terms of use. This includes not using the exchange for illegal activities.
Full Bybit Account Verification Steps Guide
At this point, the computer screen will display the identity verification interface. You need to click on “Verify Now” to start the process.
Lv.1 Verification:
- Country: Select UK.
- Authentication data type: We recommend that you use a Citizen Identification Card for authentication.
After selecting confirmation, the screen will display the following: Select “Start verification” to verify your identity.
Next, you need to select the country that issued the document and select the type of document to verify your identity.
You choose “Get secure link” by doing: Send the secure link to your phone, Open the link and complete the operation, Check here again to complete the sending.
You will have 3 options to continue the verification step on your phone: choose to scan the QR code to continue or copy the link to paste it into your phone to start verifying your identity or receive the link via SMS code.
After you have accessed the link on your phone, the screen will display as follows. You choose to start to conduct verification on your mobile phone.
Next, you need to agree to connect the camera by selecting “Turn on camera”.
Next, you need to take a photo of the front and back of your ID card.
Next, take a photo of the back of the document.
Once you have completed uploading your ID card photo, you need to proceed with facial verification.
Once facial verification is complete, the following screen will appear:
After completing the photo of the front and back of the documents, the floor will check whether your documents are correct.
Lv.2 Verification:
Upload documents to verify your residency. Pay attention to specific notices and instructions before uploading documents.
Finally, you just need to wait to verify and notify the successful result.
How to log in after opening a Bybit account?
To log in to your account after opening an account, you can follow these steps:
Step 1: Visit the official website of Bybit: https://www.bybit.com/. Open a web browser and go to the official website of the exchange. Then find and click the “Login” button which is usually located in the top right corner of the website.
Step 2: Email or phone number: Enter the email address or phone number you used to register your account. Then enter the password you created when registering your account.
Does Bybit offer an account opening bonus?
Bybit often has promotions and bonuses for new users when opening an account. These exchange bonuses can include:
- Welcome Bonus: It often offers a welcome bonus to new users after completing registration and account verification. This bonus can be used for trading on the exchange.
- First Deposit Bonus: When you make your first deposit into your Bybit account. You can now receive a bonus corresponding to the deposit amount.
- Referral Program: It has referral programs where you can get rewards for referring friends to sign up and trade on the exchange.
See more: Opening an Bybit exchange account for traders
What are the advantages of choosing to trade with Bybit?
It is one of the leading cryptocurrency derivatives exchanges. It focuses on derivative products in the crypto market. Currently, Bybit ranks 5th in trading volume among cryptocurrency derivatives exchanges in the market.
Explore the Web3 ecosystem on Bybit Global
In addition to being a cryptocurrency exchange, it has also developed into a diverse platform with Web3 products. To facilitate users to participate in decentralized applications (dApps). At the same time, participate in DeFi (decentralized finance) activities.
These products include Bybit Wallet (cryptocurrency wallet), ApeX (decentralized exchange – DEX), and Non-Fungible Tokens (NFTs – non-fungible tokens). This opens up a new Crypto world where users can take advantage of the potential of blockchain technology. Also can participate in groundbreaking financial opportunities.
Attractive customer care and reward programs on Bybit
It is not only famous for its quality trading services but also focuses on customer care. The exchange also offers many attractive reward programs.
How to qualify as a Bybit exchange partner?
Conditions to become an exchange partner:
- Referral Ability: Ability to refer new users to Bybit. This usually requires you to have an online platform or community. Such as a blog, YouTube channel, and website. Or a strong network on social media platforms.
- Number of followers or members: The number of followers or members in your community needs to be large enough to be able to bring significant value and new users to it.
- Understanding of Cryptocurrencies and Trading: Have good knowledge of Cryptocurrencies and Trading. To be able to provide accurate and valuable information to your users.
Periodic competitions for Bybit Global investors
Bybit regularly holds trading competitions with attractive rewards and high-value packages. It attracts attention from the trading community. These competitions not only create an exciting playground where traders have the opportunity to practice and apply their strategies. At the same time, it also offers the opportunity to receive valuable rewards.
In addition, it has launched a special Affiliate program. To open up opportunities for users to earn commissions through referrals to the platform. This not only helps users take advantage of income opportunities but also contributes to the sustainable expansion of the Bybit community.
How to contact customer support on Bybit?
In addition to using the live chat window and joining the Telegram group to resolve account-related issues, users can also contact Bybit directly via the following email addresses:
- Customer Support via channel: support@bybit.com
- Technology Support: IT@bybit.com
- Affiliates: IB@bybit.com
- Marketing: Marketing@bybit.com
These are official channels for users to resolve issues. Additionally, users can request support from Bybit quickly and efficiently.
Useful trading tools and features for Bybit investors
Bybit offers a range of tools to help traders develop effective trading strategies. Including Copy Trading, TradeGPTs, and TradingBots. In particular, it focuses heavily on the Copy Trading feature. With an intuitive interface, an optimized top trader filter, and the participation of many experts in the derivatives trading market.
In addition, it offers a variety of financial products for users to optimize their capital usage. Including Lending, Crypto Loans, and earning options through the Earn section. For example, Liquidity Mining, Bybit Savings, and Launchpool.
The platform offers a variety of features and products that allow trading with up to 100x leverage, including borrowing, derivatives trading, margin trading, trading bots, TradeGPT, and Copy Trading.
So that users can learn and test the services before implementing them with real assets. It also provides a testing environment on the test net. It allows us to use strategies and get familiar with the exchange interface safely and effectively.
Basic operations with the Bybit platform that traders should know
To buy/sell coins on Bybit, you can easily access the “Trade” section. Click on “Spot Trading”. Then, enter the amount you want to buy/sell and click “Buy/Sell”.
In addition, it also offers programs to help you earn passive income effectively. You can access the “Earn” section to participate in Staking. You can receive rewards by holding coins. Or participate in Launchpool programs to receive tokens from new projects.
- Limit Order: Limit orders allow you to freely set the BTC buy/sell price as desired. After entering the desired amount of BTC and price. Traders just need to click on “Open Long” to buy or “Open Short” to sell.
- Market Order: A market order allows you to buy/sell BTC at the best available market price without having to set a price. Simply enter the amount of BTC. Click “Open Long” or “Open Short” to place the order and wait for it to be filled.
- Conditional Order: This order allows you to automatically monitor opportunities and execute take profit or stop loss orders at the right time. This is an ideal choice when you cannot monitor the market continuously.
What to do if you can’t log in to Bybit because you forgot your password?
If you are unable to log in to your account because you forgot your password. Traders can follow these steps to quickly recover your password:
- Access the login page: First, go back to the Bybit login page on your web browser.
- Select “Forgot Password”: Find and click the “Forgot Password” link. Or click “Forgot Password” below the password entry field.
- Enter registered email address: Enter the email address you used to register your Bybit account. Then select “Send Verification Code”.
- Get Verification Code: Bybit will send a verification code to your email address. Check your inbox and copy the verification code.
- Confirm and reset password: Enter the confirmation code on the Reset Password page. Then, enter the new password you want to use for your Bybit account. Re-enter the new user password to confirm it is correct.
How to get Bybit API key?
Like many other exchanges, Bybit offers API Key support to help users integrate the exchange with third-party applications. To be able to get an API Key from the exchange, traders can follow these steps:
Step 1: Go to Account and select API
Go to the “Account” section and then select “API”. In the “API Management” section, traders select “Create New Key”.
Step 2: Select API type and enter the information
- Select API type: Select “API Transaction” or “Connect to Third-Party Applications”.
- Enter API information:
- API Key Name: Enter a reference name for your API key.
- Access Permissions: Select access permissions for the API key, including “Read-Write” or “Read-Only”.
Select the information to query according to your needs.
Step 3: Complete and verify
Click “Submit” and enter the 2FA verification code from the Google Authenticator app.
By following these steps, you will be able to generate an API Key to integrate Bybit with third-party applications securely and efficiently.
Withdraw money from Bybit exchange simply and quickly
Step 1: Go to Bybit ‘s homepage and select “Assets”. Select “Withdraw”.
Step 3: Enter the name of the coin you want to withdraw. Select “On-chain” to withdraw from the exchange or “Internal Transfer” to transfer coins to another wallet on the exchange. Traders can fill in the required information as follows:
- Address: Receiving wallet address.
- Network: Transaction network.
- Amount: The number of coins that traders want to withdraw.
- Account: Select the deposit account from Spot or Funding.
Then select “Withdraw” and enter the 2FA code and the confirmation code sent via email to complete the transaction.
Notes when using Bybit trading products and services
When using Bybit ‘s trading products and services, there are a few important notes you should keep in mind:
Analysis of potential coins on Bybit exchange
Bybit Exchange currently offers over 1000 cryptocurrencies and over 300 instant trading pairs. This includes major trading pairs such as BTC, ETH, SOL, APE, LTC, DOGE, AVAX and many more. The exchange also supports over 160 countries, including the UK.
With a diverse and rich list of cryptocurrencies, Bybit is a cryptocurrency exchange worth trying. To bring you valuable trading experience.
How to avoid scams and “Chicken Herding” traps on Bybit Global
To avoid scams and “herding” on Bybit Global, you can take the following precautions:
- Find out about promotions directly from the exchange. Avoid participating in promotions that are too attractive and of unknown origin. Only participate in official activities organized by Bybit. At the same time, they are clearly announced on their official website.
- Do not share your personal information and exchange account passwords. Avoid sharing your personal information, password, and 2FA verification code with anyone. Even those who claim to be employees. It will never ask you for your password via email or other communication channels other than the official website and app.
- Use Testnet: Before trading on the main platform, use Testnet to test functions and strategies without involving real assets. This helps reduce the risk when getting familiar with trading on the Bybit platform.
- Contact Customer Support: If there is any suspicious activity or you encounter any security-related issues, please contact Bybit ‘s customer support team immediately for specific help and guidance.
Conclude
Bybit is one of the safest and easiest-to-use derivatives exchanges. It offers the fastest trading speed in the cryptocurrency industry. Hopefully, this article from Crypto Trading has given you an overview of Bybit. This is a reliable choice to enter the trading market. Don’t forget to follow the Blog for more useful news!
Frequently Asked Questions
Withdraw money from Bybit exchange simply and quickly
Bybit is a reputable Crypto exchange. It allows users to trade directly and participate in derivative contracts. Such as futures, options, and perpetual contracts. You can also buy crypto assets instantly. In addition, you can generate passive income from holding coins.
What assets can you trade on Bybit?
Bybit, you can trade over 300 different cryptocurrencies. Including derivatives like futures and options.
What is the minimum deposit that traders can deposit on Bybit?
After KYC verification, Bybit does not impose a minimum deposit for cryptocurrencies. Additionally, Bybit does not charge any fees for depositing cryptocurrencies. It only charges a network fee to move coins from one address to another.
