Trading BTC on a platform like Bybit is one of the most accessible ways to participate in the digital asset economy. Bybit offers a professional yet user-friendly interface, making it ideal for newcomers. This guide will walk you through the essential steps to start your Bitcoin trading journey.

Furthermore, if you’re successful, you can easily share your knowledge and earn recurring income by leveraging the Backcom Bybit program, which rewards you for referring new traders to the platform.

Step 1: Account Setup and Security

Before you can place your first BTC trade, you need a fully operational and secure Bybit account.

Registration and Verification

1. Sign Up: Go to the official Bybit website and sign up using your email or mobile number.

2. KYC (Know Your Customer): Complete the identity verification process (KYC). This is required for increasing withdrawal limits and accessing many features, ensuring security and compliance.

Enhance Security

Enable Two-Factor Authentication (2FA) immediately using an app like Google Authenticator. This is the most crucial step to protect your funds from unauthorized access.

Step 2: Funding Your Account with Fiat or Crypto

You need funds to buy BTC. Bybit offers two primary methods to deposit money.

Fiat Deposit (Buying Crypto with Cash)

- P2P (Peer-to-Peer) Trading: Buy BTC directly from other users using your local currency (fiat) via Bybit’s P2P marketplace.

- Third-Party Services: Use Bybit’s integrated fiat gateway to purchase BTC directly using a credit card or bank transfer (service fees apply).

Crypto Deposit

If you already own BTC or USDT on another exchange or wallet, you can transfer it directly to your Bybit wallet.

- Select Asset: Go to "Assets" and select "Deposit." Choose BTC or USDT (Tether).

- Choose Network: Be extremely careful to select the correct network (e.g., BTC network for BTC, or a suitable network like TRC-20 or ERC-20 for USDT).

- Transfer: Copy the unique deposit address provided by Bybit and paste it into the withdrawal field of your external wallet.

Read more:

- http://forums.graphonomics.org/index.php?members/anderstruonq.33958/#about

- https://www.pho-thong.com/forum/topic/43076/bybit-usdt-trading-guide-for-stablecoin-lovers

Step 3: Understanding the Trading Interface (Spot Market)

For beginners, the Spot market is the safest place to start. Spot trading involves the direct exchange of assets at the current market price.

Navigate to the Spot Market

On the Bybit interface, go to Trade and select Spot Trading. Then, choose the BTC/USDT pair. This is the most liquid pair, allowing you to buy BTC using your USDT stablecoins.

Select Order Type

- Market Order: This executes your trade immediately at the best available current market price. It is the fastest option but offers less price control.

- Limit Order: This allows you to set a specific price at which you want to buy or sell BTC. The order will only be filled if the market price reaches your set price. This is better for price control and planning trades.

- Conditional/Stop-Loss Order: These are advanced orders used for risk management (stop-loss) or triggering an order only when a certain market condition is met.

Step 4: Placing Your First BTC Trade

Let’s assume you want to buy BTC using USDT.

1. Select Limit Order: As a beginner, always start with a Limit Order to control your entry price.

2. Set Price: Input the price (in USDT) you are willing to pay for one BTC.

3. Set Amount: Enter the amount of BTC you wish to buy or use the slider to select the percentage of your available USDT you want to spend.

4. Click Buy BTC: Your order will appear in the "Open Orders" tab and wait until the market price drops to your set price to be executed.

5. Selling: The process for selling BTC is the same; you would switch to the "Sell" tab, set your desired sale price, and click "Sell BTC."

Step 5: Risk Management and Strategy

Trading Bitcoin is inherently risky due to high volatility. Never trade more than you can afford to lose.

- Start Small: Begin with a small amount of capital to get comfortable with the interface and market movements.

- Set a Stop-Loss: Always use a Stop-Loss order (a type of Conditional order) to automatically sell your BTC if the price falls below a certain point. This limits potential losses.

- Avoid Leverage (Initially): Bybit offers high leverage on Derivatives, but beginners should strictly avoid this until they have mastered Spot trading. Leverage amplifies both gains and losses.

By following these structured steps, you can confidently begin trading BTC on Bybit, establishing a secure and methodical approach to navigating the world's largest cryptocurrency.



Author: Backcom App