Bybit Exchange | Registration Guide & How It Works | Future & Spot [2024]

Do you want to know everything about the Bybit exchange? In this guide you will learn step by step how to register and buy your first Cryptocurrencies.

Let's go straight to the guide.

What is Bybit

ByBit is a well known and trusted exchange with over 10 million users and is the third largest cryptocurrency exchange in trading volume at the moment you are writing the article.

Her platform ByBit enables you to:

• Buy and sell popular Crypto (like Bitcoin & Ethereum) and several emerging Cryptocurrencies with over 100 coins in Future account and over 300 in spot.
• Do Crypto Trading leveraged x100 in pairs BTC / USD and ETH / USD with almost zero fees.
• Earn passive income from Crypto in various ways like Staking & Crypto Lending.

How to register on Bybit

Creating a Bybit account is a very easy process all you need is one email/Mobile number and a security code. In the referral code category it will have your number 43536, this way you get a discount on deposit fees and bobus.

How to send money to Bybit?

After you created your account, it's time to send your first ones Cryptocurrencies to trade on the platform, you will go to the categories Assets/Deposits and you will choose the currency you want, for example I will try it USDT (BSC BEP20) and you will send them to the address that will appear

How to do Future Trading

To do Future trading it is quite a difficult process but if you follow a strategy and know what you are doing the odds are on your side. First you will click on the category Derivatives and then to USDT Perpetual.

It will directly put you on the home page and you will have to set them up to get a proper trade. The first thing you have to make is the isolated and to cross the isolated is a safety valve that if, for example, we risk $50 we will lose $50, the cross if you risk $50 also draws from the balance that your account may have in it.

After choosing isolated, you should also put in the leverage you want, leverage is a process that bybit can lend you money, but if you lose, you lose the money you put in. For example you have $50 in the account if you leverage x3 you multiply the $50 x3 times. (not more than x3 especially at the beginning)

we will select the open category and the market option to bet directly on the trade, in order by cost we put the money we want and press long if we think the market will go up and shorts if we believe whether the market will fall .

As soon as your trade is opened it will appear like this below. we took a trade without a stop loss, for you to place stop loss and take profit you press on the circled point and you put the stop loss where you want

How do you set a correct take profit and stop loss?

How to buy crypto spot on bybit

The spot category that has byte it's so you can buy Cryptocurrencies with over 100 options. The first thing you have to do is send money as shown above and then click on the category Trade and after Trading Spots

You will then type in the coins you want to exchange with USDT for example I will do the USDT that I have ETH.

Once you have found the coin you want, go ahead and put it in market (to buy directly) h limit (to buy at a better price) I will put market, I choose to make all the money into eth and press buy ETH. If you want to sell the ETH you bought, click sell and put the money or coins you want to sell

DISCLAIMER: Cryptocurrency trading is VERY dangerous. Make sure you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your money.