Crypto trading has become increasingly accessible, and platforms like Bybit have made it easier than ever for beginners to enter the market. Whether you're interested in spot trading or leveraging your positions with futures, this comprehensive guide walks you through every essential step—from setting up your account to executing your first trade.
This tutorial focuses on core functionalities including deposits, withdrawals, spot trading, futures trading, leverage usage, and fee structures—all explained in simple, actionable terms.
Getting Started with Bybit
Before diving into trades, it's crucial to understand what Bybit is and how it operates. Bybit is a leading cryptocurrency exchange offering both spot trading and futures trading with high leverage options. It supports a wide range of digital assets and provides advanced tools for both novice and experienced traders.
👉 Discover how to start trading crypto safely and efficiently today.
Security is a top priority on Bybit. The platform uses advanced encryption, two-factor authentication (2FA), and cold wallet storage to protect user funds. Always enable 2FA during setup to enhance your account protection.
Creating and Securing Your Account
To begin, visit the official Bybit website and register using your email address or phone number. After registration:
- Complete identity verification (KYC) to unlock higher withdrawal limits.
- Set up Google Authenticator for 2FA—avoid SMS-based authentication due to SIM-swapping risks.
- Store your recovery phrase securely—never share it online.
Once your account is secured, you're ready to fund it and start trading.
How to Buy Crypto on Bybit
Bybit allows users to purchase crypto directly using fiat currencies such as USD, EUR, and others via third-party payment providers. Here’s how:
- Navigate to the “Buy Crypto” section.
- Choose your preferred payment method (e.g., credit/debit card).
- Select the cryptocurrency (e.g., BTC, ETH).
- Enter the amount and complete the transaction.
This process is ideal for beginners who don’t already own digital assets.
Depositing Cryptocurrency to Bybit
If you already hold crypto on another exchange or wallet, you can transfer it directly to your Bybit account:
- Go to Assets > Deposit.
- Select the cryptocurrency you wish to deposit (e.g., USDT, BTC).
- Copy the generated deposit address.
- Send funds from your external wallet to this address.
Ensure you use the correct network (e.g., ERC-20, BEP-20). Mismatched networks may result in lost funds.
Internal Account Transfer
Bybit separates spot and futures accounts. To trade futures, you must transfer funds internally:
- Click Transfer in the assets menu.
- Select the source (e.g., Spot Wallet) and destination (e.g., Derivatives Wallet).
- Enter the amount and confirm.
This transfer is instant and incurs no fees.
Withdrawing Funds from Bybit
When you’re ready to cash out:
- Go to Assets > Withdrawal.
- Select the cryptocurrency and network.
- Paste the recipient address.
- Confirm the transaction via email and 2FA.
Always double-check addresses. Withdrawals cannot be reversed.
👉 Learn how to manage your crypto portfolio with precision and confidence.
Understanding Spot Trading on Bybit
Spot trading involves buying and selling actual cryptocurrencies at current market prices. It’s the simplest way to trade and ideal for beginners.
Key Features:
- Instant ownership of assets
- No leverage involved
- Lower risk compared to futures
Order Types in Spot Trading
Limit Order
Set a specific price at which you want to buy or sell. The trade executes only when the market reaches that price.
Market Order
Buy or sell immediately at the best available price. Fast but may incur slippage during volatile periods.
Conditional Order (Stop Order)
Triggers a market or limit order when a specified price is reached. Useful for setting stop-losses or entering breakouts.
Spot Trading Fees
Bybit uses a maker-taker fee model:
- Maker fees: You provide liquidity (your order doesn’t execute immediately). Typically around 0.1%.
- Taker fees: You remove liquidity (your order executes instantly). Also around 0.1%, but can be reduced with higher trading volume or holding platform tokens.
Fees are generally competitive and transparent.
Exploring Bybit Futures Trading
Futures allow traders to speculate on price movements without owning the underlying asset. They support leverage, enabling larger positions with less capital.
Accessing the Futures Interface
Navigate to the Derivatives section and select USDT Perpetual or Inverse Contracts based on your preference.
The trading interface includes:
- Price chart
- Order entry panel
- Position and order history
- Funding rate indicator
Understanding Key Concepts in Futures Trading
Funding Rate
A periodic payment exchanged between long and short traders to keep futures prices aligned with the spot market. Paid every 8 hours.
- If funding rate is positive, longs pay shorts.
- If negative, shorts pay longs.
Monitor this rate—it affects holding costs over time.
Leverage and Margin
Leverage amplifies both gains and losses. Bybit offers up to 100x leverage on certain pairs.
- Isolated Margin: Risk is limited to the allocated margin.
- Cross Margin: Uses entire wallet balance to prevent liquidation.
Beginners should start with low leverage (e.g., 2x–5x) to manage risk effectively.
Mark Price
Used to prevent manipulation, the mark price reflects the fair value of a contract based on external indexes. Liquidations are calculated using this—not the last traded price.
Order Types in Futures Trading
Bybit supports multiple order types:
- Limit Orders
- Market Orders
- Conditional Orders (Stop-Loss, Take-Profit)
- Reduce-Only Orders: Close positions without increasing exposure
Use these strategically to automate entries and exits.
Futures Trading Fees
Similar to spot:
- Maker fee: ~0.025%
- Taker fee: ~0.075%
These rates can decrease with VIP tiers or token holdings.
Placing a Long Order (Going Long)
A long position profits when prices rise:
- Switch to Buy mode.
- Set leverage (e.g., 10x).
- Enter quantity.
- Place a market or limit order.
Set a stop-loss below entry to limit downside risk.
Placing a Short Order (Going Short)
A short position profits when prices fall:
- Switch to Sell mode.
- Adjust leverage.
- Input position size.
- Execute order.
Always use risk management tools—shorting carries unlimited risk in theory.
Using the Bybit Order Calculator
Bybit provides an internal calculator (or you can use third-party tools) to estimate:
- Potential profit/loss
- Liquidation price
- Required margin
This helps in planning trades with clear risk-reward ratios.
👉 Maximize your trading potential with smart tools and real-time insights.
Frequently Asked Questions (FAQ)
What is the minimum deposit on Bybit?
There is no minimum deposit requirement on Bybit. However, some payment methods for fiat purchases may have their own thresholds.
Can I lose more than I deposit when trading futures?
No—Bybit uses a clawback protection system. If your position is liquidated, you won’t owe additional funds beyond your initial margin.
Is Bybit available in the United States?
No, Bybit does not serve users from the United States due to regulatory restrictions.
How often is funding paid on perpetual contracts?
Funding is exchanged every 8 hours—at 00:00 UTC, 08:00 UTC, and 16:00 UTC.
What’s the difference between isolated and cross margin?
Isolated margin limits risk to a set amount, while cross margin uses your entire balance as collateral, reducing liquidation risk but increasing exposure.
Does Bybit offer demo accounts?
Yes, Bybit offers a paper trading feature that simulates real-market conditions without using real funds—perfect for practice.
Final Thoughts
Bybit is a powerful platform that caters well to both new and experienced traders. With intuitive tools for spot trading, robust features for futures trading, and strong security protocols, it's a solid choice for entering the crypto space.
Whether you're looking to buy Bitcoin for the first time or test strategies with leveraged positions, understanding the basics covered here will set you on the right path.
Remember: always trade responsibly, use stop-losses, avoid over-leveraging, and never invest more than you can afford to lose.
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