💸How to Open a Trade in Bybit
Can’t wait to start your trading journey? Here is a detailed process guide to help you start your first trade.
Bybit offers you three types of trading products: Spot Trading, Derivatives Trading and Decentralized Finance (DeFi).
Table Of Contents
Spot Trading
For traders who are using the web trading page, please head over to the Bybit homepage, and click “Spot“ on the navigation bar to enter the spot trading page.
On the left side of the page, you can see all trading pairs, as well as the Last Traded Price (USDT) and 24-hour change percentage of the corresponding trading pairs. To quickly find the trading pair you desire, please directly enter the trading pair you want to view in the search box.
Tip: Click the star icon. Then you can include frequently viewed trading pairs in the “Favorites” column, allowing you to easily select trading pairs for trading.
For traders using Bybit’s app, select “Spot” at the bottom right to enter the trading page that defaults to BTC/USDT.
Want to view other trading pairs? Please click on the trading pair in the upper left corner, and you will see a full list of trading pairs. Simply select the one you want to trade.
Note：
— Currently, BTC/USDT, ETH/USDT, XRP/USDT and EOS/USDT are supported.
Move to the order zone and follow the steps below to start placing your order.
Note:
— Please make sure that there are sufficient funds in your Spot account. If the funds are insufficient, traders who use the web can click “Deposit” or “Transfer” in the order zone to enter the asset page for Deposit or Transfer. For more deposit information, please refer here.
The following example uses a BTC/USDT Market Order.
1. Select “Market”.
2.(a) Buy: Enter the amount of USDT paid to buy BTC.
Sell: Enter the amount of BTC to sell to buy USDT, or
(b) Use the percentage bar.
For example, if you want to buy BTC, the available balance in the Spot account has 10,000 USDT, and you choose 50% — that is, buy 5,000 USDT equivalent of BTC.
3. Click “Buy BTC” or ”Sell BTC”.
After confirming that the entered information is correct, click “Buy BTC” or ”Sell BTC”.
Congratulations! Your order has been filled.
For traders on the web, please go to “Filled” to view the order details.
For traders using the app, click “All Orders” and then select “Order History” to view order details.
Derivatives
Bybit provides diversified derivative products. You can choose from a range of USDT Perpetual, Inverse Perpetual and Inverse Futures.
For traders on the web, please head over to the Bybit homepage. Click “Trade” in the navigation bar, and select the contract type and trading pair from the drop-down menu to enter the Derivatives trading page.
Before placing an order, please check your available balance under the “Assets” column on the right side of the page.
For traders using Bybit’s app, click on “Contract” in the middle bottom to enter the trading page that defaults to BTC/USD. Want to view other trading pairs? Please click on the trading pair in the upper left corner and you will see a full list of trading pairs. Then, simply select the one you want to trade.
Move to the order zone and follow the steps below to start placing your order.
Taking the BTC/USD limit order as an example:
1. Select Margin mode and set leverage under “Isolated” mode.
2. Select order type: Limit, Market or Conditional.
3. Enter order price.
4. (a) Enter quantity, or (b) Use the percentage bar to quickly set an order’s contract quantity with the corresponding proportion of the account’s available margin.
5. Set Buy Long with TP/SL, or Sell Short with TP/SL (optional).
6. Click “Buy/Long”or “Sell/Short”.
Next, a confirmation window will appear. After checking the order information, click “Confirm”.
Your order has been submitted successfully!
After your order is filled, you can view the order details in the position tab.
ByFi Center
ByFi Center provides you with Cloud Mining and Decentralized Finance (DeFi) products.
Let’s take DeFi Mining as an example.
First, click “ByFi Center” –> “Defi Mining” to visit the DeFi Mining page.
Please make sure that your ByFi account has sufficient funds before you purchase a plan.
If there are not enough funds in your account:
You can log into your ByFi account and then click “Transfer” in the USDT column to transfer assets, as shown below.
After that, the Transfer window will pop up. You will only need to follow these steps:
1. Choose to transfer funds from Derivatives Account to ByFi Account.
2. The default currency is USDT. Currently, only payments in USDT are supported.
3. Enter the amount you want to transfer and click “Confirm”.
After the fund transfer operation is completed, you can return to the product page to make a purchase.
You can also click “Buy Now” to purchase the product directly. For example, select a product with a service duration of 5 days and an Annualized Percentage Yield of 20% to 25%.
You will be brought to the product details page. Click “Buy Now”.
If the balance in your account is insufficient, you only need to click “Transfer” to proceed with the steps to top up your ByFi account.
After the funds are successfully transferred, return to the Product Details page and click “Buy Now” once more.
Please confirm the order information and click “Purchase”.
The order has been successfully purchased!
After you click “OK”, the page will automatically redirect to the Order page for you to view the order details.
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