A modern and sleek digital illustration of a smartphone displaying the Bybit trading app interface, with Bitcoin, Ethereum, and other cryptocurrency

How to Trade Crypto on the Bybit App – A step by step guide for beginners

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Cryptocurrency trading has become very popular in recent years. Many people want to buy and sell digital coins to make a profit. Bybit app is one of the most popular apps for trading crypto. It is easy to use and allows users to manage their investments from their phones.

If you are new to Bybit, don’t worry! This guide will walk you through the process of buying, selling, and managing your cryptocurrencies step by step. By the end, you will know how to trade on Bybit like a pro!

Step 1: Download and Install the Bybit App

The first step to trading on Bybit is to download the app on your smartphone. Follow these steps:

A home page of the official Bybit website.

  1. Open the App Store (for iPhone users) or Google Play Store (for Android users).
  2. Search for “Bybit” in the search bar.
  3. Click “Download” or “Install.”
  4. Once the app is installed, open it and get ready to create an account.

Step 2: Create an Account and Log In

A signup page of the Bybit website

To use Bybit, you need to create an account. Follow these steps:

  1. Open the Bybit app or website and click “Sign Up.“
  2. Enter your email address or phone number.
  3. Create a strong password.
  4. Read and agree to the terms and conditions.
  5. Click “Sign Up.”
  6. You will receive a verification email or SMS. Open it and follow the instructions to verify your account.
  7. Once verified, log in with your email and password.

Step 3: Secure Your Account

A realistic digital illustration of a smartphone screen displaying the Google Authenticator app interface. The screen shows a six-digit authentication

Security is very important when trading crypto. Bybit offers two-factor authentication (2FA) to keep your account safe. To set up 2FA:

  1. Go to “Settings” in the Bybit app.
  2. Select “Security Settings.”
  3. Click “Enable Two-Factor Authentication.”
  4. Follow the instructions to connect your account with Google Authenticator.
  5. Enter the code from Google Authenticator to confirm.

Now your account is more secure!

Step 4: Deposit Funds into Your Bybit App Account

Bybit deposit screen for both FIAT and Crypto deposits

Before you can start trading, you need to deposit money into your Bybit account. You can do this using crypto or fiat currency.

Depositing Crypto

  1. Open the Bybit app and go to “Assets.”
  2. Click “Deposit.”
  3. Choose the cryptocurrency you want to deposit.
  4. Copy your deposit address and use it to send crypto from another wallet.
  5. Wait for the transaction to complete.

Depositing Fiat (Traditional Money)

  1. Open the Bybit app and go to “Buy Crypto.”
  2. Choose the amount you want to deposit.
  3. Select a payment method (credit card, bank transfer, etc.).
  4. Follow the instructions to complete the transaction.
  5. Once the deposit is successful, you will see your balance in the app.

Step 5: Buy Cryptocurrency On Bybit App

Now that you have funds in your account, you can buy crypto.

  1. Open the Bybit app and go to “Trade.”
  2. Choose “Spot Trading” for buying crypto directly.
  3. Select the cryptocurrency you want to buy (e.g., Bitcoin, Ethereum).
  4. Choose the amount you want to buy.
  5. Click “Buy” and confirm the transaction.
  6. The purchased crypto will appear in your wallet.

Step 6: Sell Cryptocurrency on Bybit App

If you want to sell crypto and turn it back into money, follow these steps:

  1. Open the Bybit app and go to “Trade.”
  2. Select “Spot Trading.”
  3. Choose the cryptocurrency you want to sell.
  4. Enter the amount you want to sell.
  5. Click “Sell” and confirm the transaction.
  6. Your balance will update after the sale is complete.

Step 7: Managing Your Crypto

Bybit makes it easy to track and manage your crypto investments. Here’s how you can do it:

Checking Your Balance

  1. Open the Bybit app and go to “Assets.”
  2. Here, you will see all the crypto you own and their values.

Withdrawing Crypto

  1. Open “Assets” and click “Withdraw.”
  2. Choose the cryptocurrency you want to send.
  3. Enter the wallet address where you want to send the funds.
  4. Confirm the withdrawal and wait for the transaction to complete.

Setting Stop-Loss and Take-Profit Orders

Bybit allows you to set stop-loss and take-profit orders to manage risks. Here’s how:

  1. Open the “Trade” section.
  2. Select the cryptocurrency and enter your trade details.
  3. Choose “Stop-Loss” to set a price where your trade will close if the market drops.
  4. Choose “Take-Profit” to set a price where you will automatically sell to lock in profits.
  5. Confirm your order.

Step 8: Exploring Advanced Trading Features On Bybit App

Once you are comfortable with basic trading, you can explore advanced features like:

  • Futures Trading: Allows you to bet on price changes without owning the crypto.
  • Leverage Trading: Lets you trade with more money than you actually have, increasing potential profits (but also risks).
  • Staking and Earn Programs: Helps you earn interest on your crypto by holding it in special accounts.

Step 9: Keep Learning and Stay Updated

Crypto markets change all the time, so it’s important to stay informed. Here are some ways to learn more:

  • Follow Bybit’s news and updates in the app.
  • Read articles and watch tutorials online.
  • Join online crypto communities to discuss trading strategies.
  • Always be careful and do research before making big trades.

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Bybit is a powerful app that makes crypto trading easy for beginners and experts. By following these steps, you can start buying, selling, and managing crypto in no time. Remember to keep your account secure, manage your investments wisely, and stay updated on market trends. Happy trading!