Bybit is a new face in the list of reputable derivatives exchanges. It has quickly attracted the attention of the community thanks to its quality and great experience. Designed simply, focusing on leverage trading, Bybit is very easy to use. So what is Bybit? Let’s explore with Learn Crypto Trading through the

Instructions for opening a Bybit account on a computer device

Below is a detailed guide on the account registration process on Bybit ‘s website when using a computer:

Step 1: Visit the website

Start by visiting https://www.bybit.com/

Then click on the “Register” button.

Instructions for opening a Bybit account on a computer device

Step 2: Fill in information

Next, choose a registration method that suits your personal preferences. You can choose to use a phone number or a regular email address.

Enter your email address or phone number and password. Enter the referral code “WEB09“ for support. Then, check the Terms of Service box to confirm your agreement with the terms of the Bybit Crypto exchange. Next, click “Get My Welcome Gift” to create an account.

Step 3: Confirm the account

Before sending the confirmation email, Bybit will ask you to confirm that you are not a robot. Do this by dragging the missing image into the correct position.

Bybit will then send you a confirmation email via SMS. Enter the 6-digit confirmation code sent to your email to complete the registration process.

Step 4: Download the Bybit app to verify

To start the Bybit verification process, click on “ Verify Now ”.

In the new interface, click on ” Verify”.

At this point, the computer screen will display the table below. Here, you can select the country as Vietnam and the type of data you want to verify. We recommend using your National ID for verification.

After selecting the type of document you need to verify, you need to go to “Verify via App”. There you can download the Bybit app and continue with the next steps of account verification.

On the phone, we scan the QR code directly to be able to lead to the Bybit App download link.

Step 5: Verify account on the Bybit App

After downloading the Bybit App to your phone. We need to open the app and log in to the Bybit system. The app interface is as follows:

Next, we click on “Login Now ” to log in to the account.

Next, we will begin the user identity verification process.

Continue, Select “  Verify Now  ”.

Select “  Verify ” to go to the next step.

Next, you need to select the country that issued the document and select the type of ID Card to verify your identity. Next, select “ Confirm  ”.

Next step, select “Continue“.

The account verification process consists of 2 steps: ID verification and facial verification. Select “Continue“.

Step 6: Document and face verification

The verification document used must be a valid government-issued identification document.

Next, you need to take a photo of the front and back of the ID you are using to verify your account.

Once you have finished uploading your ID photo, you will need to go through facial verification.

Once facial verification is complete, the screen will appear as follows:

After completing facial verification, the platform will check whether your documents are correct or not. The maximum checking time is 24 hours.

See more: Bybit exchange: Instruction for opening account

What are some things to keep in mind when opening a Bybit account?

When opening a Bybit account, there are a few important things you need to keep in mind:

• Bybit has minimum age requirements to open an account. Please ensure that you meet these requirements before proceeding with registration.
• Bybit requires traders to verify their identity to ensure the authenticity and security of their accounts. This includes providing identification documents and proof of address.
• Make sure you choose a strong password and keep your account secure. Also, traders should use additional security measures such as two-factor authentication. This is to protect user accounts from fraudulent activities.
• Before opening an account, please read the Bybit terms and conditions carefully. This will help you understand the rules and commitments you agree to when using it.
• Before you start trading on Bybit, please familiarize yourself with the procedures and policies related to Bybit trading, payments, and withdrawals. This will help you avoid unwanted risks during the trading process.

Why should I open a Bybit account?

Bybit is one of the leading Crypto exchanges. It not only offers a user-friendly interface but also integrates advanced trading features. It also has strong security measures. Launched in 2018, Bybit has quickly conquered the global trading community thanks to its smooth experience and competitive trading fees.

Advantages of Trading and Investing on Bybit Crypto 

Bybit is not only a popular Crypto exchange but it is also an ideal destination for both beginners and seasoned traders. 

Broker Bybit account opening process is quick and simple

Bybit offers an easy and quick account registration process. Users only need a few basic steps to complete opening a Bybit account :

• Go to the Bybit website and click “Sign Up”.
• Fill in the trader’s personal information including email and password.
• Verify your Bybit user account via email or phone number.
• Complete registration and start using the Bybit platform immediately.

Bybit ensures quality and reputation

Bybit is one of the leading cryptocurrency exchanges today. Exchange Bybit is famous for its reputation and quality of service:

• Smart Trading System: Bybit provides strategy alerts and allows to set take profit/stop loss.
• HD Cold Wallet: Secure user assets using cold wallets. Similar to popular hardware wallets like Ledger and Trezor.
• 100K TPS Compounding Engine: Ensures fast processing speed. Capable of processing 100,000 transactions per second.
• Significant Market Depth: Bybit ensures trades have an almost imperceptible price impact.
• 99.99% System Uptime: Guaranteed uptime. Minimize interruptions.
• Modern pricing system: Dual pricing mechanism helps avoid false liquidity.

The professional and enthusiastic support team from the Bybit exchange

Bybit has an extremely professional, attentive, and enthusiastic customer support team:

• 24/7 Support: Bybit support team is always ready to answer any questions at any time.
• Multilingual Support: Bybit provides support in multiple languages. To help users from all over the world communicate easily.
• Expert Advice: Our team of advisors provides expert advice on trading and investing. This helps traders make smart decisions.

These advantages make Bybit the top choice for those who want to trade and invest in cryptocurrencies safely, efficiently, and conveniently.

How are fees calculated and applied on Bybit?

Fees on Bybit will be calculated and applied as follows:

What are the fees traders have to pay when trading on Bybit?

Bybit exchange charges users for the following activities:

• Withdrawal Fees: For on-chain withdrawals, the fees will vary depending on the amount, token type, and network. This is the gas fee on the network. However, Bybit does not charge withdrawal fees when users transfer funds between accounts on the exchange.
• Derivatives trading fees: Maker pays up to 0.02%, Taker pays up to 0.055%.
• Spot Trading Fees: Maker and Taker both pay 0.01%.
• Options Trading Fees: Maker and Taker both pay 0.03%.

What factors can affect Bybit exchange fees?

There are many factors that can affect the costs of the Bybit exchange, including:

• Trade Types on Bybit: Different trades (Spot, Derivatives, Options) have different fees.
• Role in trading: Applies to the order maker (Maker) and the order taker (Taker) are usually different. Usually, the Taker has to pay higher fees than the Maker.
• Asset Type: Fees may vary depending on the token type and blockchain network used. Different asset types may have different transaction and withdrawal fees.
• Trading Volume: Some exchanges, including Bybit, may offer preferential fees for users with high trading volumes. This means that the more you trade, the lower your fees may be.
• Market conditions: Gas fees for on-chain transactions can fluctuate based on blockchain network conditions, such as when the network is congested or there are many transactions at the same time.
• Promotions: Bybit often has special promotions or offers. Bybit may temporarily reduce trading fees for users.
• Currency Conversion Fee: If the user needs to convert between different currencies, such as when depositing/withdrawing, additional conversion fees may be incurred.

Additionally, Bybit may have other fees such as account maintenance fees or inactivity fees. If a user does not make a transaction for an extended period.

Guide to effective trading strategies with Bybit

To buy/sell coins on Bybit, simply select “Trade”. Then select “Spot Trading”. Enter the quantity and click “Buy” or “Sell”.

In addition, Bybit also offers many programs to help you earn passive income. In the “Earn” section, you can participate in staking coins to receive rewards or participate in the Launchpool program to receive tokens from new projects.

Types of trading orders on Bybit :

Limit Order:

• Features: This is a limit order. It allows you to set a price to buy or sell BTC at your will.
• How to do it: Enter the price and amount of BTC you want to buy/sell. Then click “Open Long” to buy BTC or “Open Short” to sell BTC. The order will be matched when someone buys/sells at the price you set.

Market Order:

• Features: This is a market order. This order allows you to buy or sell BTC immediately at the best available price on the market.
• How to do: Enter the amount of BTC you want to buy/sell. Then click “Open Long” to buy or “Open Short” to sell. The market will automatically match the order at the best current price.

Conditional Command:

• Features: This order helps you make a profit or cut losses automatically when you cannot monitor the market continuously.
• How to execute: Set the price condition at which you want the order to be executed. The system will then automatically match the order when that condition is met.

Some things to note when trading Bybit Global

When trading on Bybit Global, there are some important things you need to keep in mind to ensure safety and efficiency during the trading process. Here are some points that traders need to pay attention to when trading with Bybit :

Understanding Bybit and its trading products

• Bybit Platform: Bybit is a cryptocurrency exchange that offers products such as perpetual futures contracts.
• Contract Types: Understand the types of contracts you will be trading. This includes their conditions, rules, and how they work.

Risk Management

• Take Profit/Stop Loss: Use take profit and stop loss tools to protect profits. At the same time, you can minimize the risk of loss.
• Leverage: Leveraged trading can increase profits but also increase risks. Use leverage levels with caution.

Compliance with legal regulations

• KYC and AML: Complete the Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures required by Bybit to ensure compliance with regulatory requirements.
• Local Regulations: Make sure you understand and comply with the legal regulations regarding cryptocurrency trading in your country.

Account Security

• Authentication (2FA): Turn on two-factor authentication to increase the security of your account.
• Strong Password: Use a strong and unique password for your Bybit account.

Learn about the most reputable Crypto exchanges today

The cryptocurrency market is becoming increasingly attractive today. It attracts the attention of many people, especially beginners. But the question is: Which cryptocurrency exchange is reputable enough for them to buy and sell with confidence? Below is information about the criteria and suggestions for the top reputable Crypto exchanges:

What are the criteria for evaluating a reputable Crypto exchange?

Because cryptocurrency exchanges are divided into two main types. So the evaluation and selection criteria will be different depending on the type of exchange used.

For CEX (Centralized Exchange) trading platform:

• KYC and AML Compliance: Exchanges must comply with KYC and anti-money laundering (AML) regulations to ensure transparency and security.
• High Daily Trading Volume: A reliable exchange should have a daily trading volume of at least around $5 million.
• Customer care team: The exchange needs to have attentive customer care service, ready to support 24/7.
• Diversified trading products: Every CEX should offer trading products such as Spot, Futures, and Margin to attract and satisfy users’ needs.

For DEX (Decentralized Exchange) exchanges:

Due to its decentralized nature and potential risks without third-party management. The evaluation criteria for DEX exchanges will be different from CEX exchanges:

• High liquidity: DEX needs to have high liquidity. To ensure users can buy and sell easily without greatly affecting the price.
• Reasonable transaction fees: Transaction fees must be reasonable and competitive to attract users.
• High Security: DEX exchanges need to have strong security measures to protect users’ assets and personal information.

Suggestions for quality Crypto exchanges other than Bybit

OKX exchange

• OKX is a CEX exchange that is very active in implementing marketing strategies. In order to attract new users. These strategies have proven effective as the trading volume on OKX has continuously increased. Peaking at 7 billion USD per day in 2024.
• OKX stands out with a number of unique products, including the OKX Web3 wallet and OKX Ordinals. It allows users to easily participate in the Inscription trend.

Cooperative exchange

• HTX is one of the leading reputable Bitcoin exchanges in Southeast Asia and around the world. Founded on September 1, 2013, by Mr. Leon Li in China. Currently, HTX is headquartered in Singapore. 
• This exchange offers hundreds of different cryptocurrencies to investors. Including Bitcoin, Ethereum, USDT,…

MEXC exchange

• Ranked 3rd in the list of the largest cryptocurrency exchanges in Vietnam is MEXC Global. Formerly known as MXC. MEXC was officially established in 2018. The founding team includes leading blockchain experts from Japan and Europe.
• MEXC Global is a reputable exchange with over 6 million users from over 200 countries worldwide. The daily trading volume reaches over 900 million USD. The exchange has received operating licenses in many countries and regions. Including the United States, Canada, Australia, Estonia and Switzerland. MEXC Global’s token is MX, currently priced at 0.8 USD per coin.

What benefits does choosing the right Crypto exchange bring to traders?

Choosing the right crypto exchange can bring many benefits to traders, including:

• Security: Reputable exchanges have strong security mechanisms. This helps protect traders’ assets from cyber attacks and fraud. This includes the use of measures such as two-factor authentication (2FA), data encryption, and cold storage.
• Product Diversity: A good exchange usually offers a wide range of cryptocurrencies and trading products such as futures, options, and staking. This gives traders more options and investment strategies.
• High Liquidity: High liquidity helps traders make large transactions without much impact on prices. As well as easily buy and sell the cryptocurrencies they want.
• User-friendly interface and analytical tools: A good trading platform usually has a user-friendly, easy-to-use interface along with powerful analytical and charting tools. This makes it easy for traders to implement and track their trading strategies.
• Reputation and legality: Reputable exchanges often comply with legal regulations and are managed by competent authorities. This helps traders feel more secure about the legality and safety of transactions.

Conclude

Above is basic information from Learn Crypto Trading on how to use the Bybit exchange. Hopefully, this article will help you feel more confident when trading on this platform. This will open up more options for finding the right exchange. Wish you more success in trading!

Frequently Asked Questions

Bybit: Is It Worthy of Being a Trusted Exchange?

Bybit has cemented its position as one of the most trusted and secure exchanges. With strict security measures and positive reviews from its user community, Bybit is committed to providing transparency and quality customer support.

What does Bybit offer?

Bybit is a powerful cryptocurrency trading platform. It supports the trading of various digital assets. With a user-friendly interface and advanced features such as real-time market data, Bybit offers a wide range of technical analysis tools to optimize the trading experience.

How does Bybit protect user funds?

Security of User Funds is a feature that the exchange prioritizes at Bybit, by storing most of the User Funds in cold wallets. The exchange also deploys industry-standard security measures. In order for Bybit to effectively protect user data and transactions.