HomeTUTORIALInstructions for using copy trading on Bybit exchange

Instructions for using copy trading on Bybit exchange

Bybit, the exchange located in top 10 exchanges Top rated by trading volume and reliability score on Coingecko recently announced the implementation of a copy trading or copy trading platform for users. As the name suggests, on this platform you can copy the trading positions of other top traders.

Anyone can participate in the copy trade on Bybit when they fulfill some simple conditions to join as “Main trader"Or"Followers".

See more:Bybit launches copy trading feature

In order not to miss the main content of this article, I will guide everyone step by step to be able to participate in the copy trade feature on Bybit.

Sign up for a Bybit account

Step 1: Create an account

Click the link below to register: https://blogtienao.com/go/bybit

Step 2: Fill in personal information

Select the country where you are registered. For example, I choose "Vietnam” in the scroll down menu then press “Confirm" to continue.

copy trade bybit select country

Fill in some required information such as:

  • Your email
  • Password: Please choose a password from 8-30 characters, containing uppercase, lowercase letters and numbers to ensure safety.
  • Referral code you keep when you register with the link to support BTA.

Complete the information you press "Continue” to go to the last step.

copy trade bybit enter password email

Step 4: Confirm Mail

Confirm your email to complete the account registration process.

The pop-up window has a limited number of countries on Bybit, you select the button “No.” and then enter the confirmation code in the Bybit email inbox to complete.

You are automatically accessed to the homepage immediately afterwards.

confirm mail bybit

This article focuses on guiding you to use the copy trade feature on Bybit, so the interface, features, fees, KYC instructions, deposit / withdrawal, .. You see details in the following article:

What is Bybit exchange? Instructions for registration and use from AZ

*Currently, Bybit only supports copy trade for Bybit futures transactions, spot trading will be provided later, so please note this point for me.

Introducing copy trading on Bybit Futures

What is copy trading on Bybit?

Not only Bybit, Copy trade is a portfolio management tool that allows traders to copy trades made by other professional investors in the market. The professional investors here are experienced traders.

What trading pairs does Bybit copy trade support?

Currently, Bybit supports 15 trading pairs: BTC/USDT, ETH/USDT, BIT/USDT, XRP/USDT, ADA/USDT, SOL/USDT, LUNA/USDT, MATIC/USDT, SAND/USDT, NEAR/USDT , ATOM/USDT, FTM/USDT, LINK/USDT, AVAX/USDT and AXS/USDT.

What versions does copy trade support?

Currently only web version is supported. Mobile version will be bybit also provided later.

Which account do you use to copy trade on Bybit? 

Copy trade will be transferred directly to “Copy Trading Account”. You can transfer assets from “Derivatives Account” to “Copy Trading Account”.

Fees when copying trade

It includes transaction fee , and funding fees same as the fee incurred when trading on Bybit's derivatives platform. In addition, there will be no additional fees.

What tokens does Bybit currently support for copy trading?

Currently only USDT.

Does copy trade need KYC? 

Followers or Followers do not require KYC but main traders need KYC level 1 and 2 to be eligible.

How much can followers bet?

For all trading pairs, a minimum order of 10$ and a maximum of 1000$.

Detailed instructions for copy trading on Bybit exchange

First you need to create an account on Bybit floor by following the link:

https://blogtienao.com/go/bybit

For copy trade you will become one of two positions:

  • Main trader: The person performing the transaction and the "Followers” will copy your trade order.
  • Followers: The person who copied the trading order of “Main trader".

Main trader

Request

First, to become a master trader, you need to fulfill the following conditions:

  • KYC level 1 and 2 required.
  • Make sure that you are not currently following the main trader and do not have any copy trades. If you still have positions in your Copy Trading Accounts, close them and move all assets out.
  • Prime traders can only sign up for one account to share their strategies.
  • When submitting an application. The required documents to be submitted are as follows:
    • Screenshot of your Derivatives trading record for the past one month on any crypto trading platform.
    • Information about your social media profiles, followers and crypto community, if applicable.
    • Screenshot of your individual trading profits and performance over the past month.

Step 1: Go to Copy Transaction

Click select "Derivative" on the menu bar in the left corner and then "Copy Transaction".

copy trade bybit derivatives

Step 2: Submit application form

Copy Trade page is opened to initiate a trade, click on “Become a master trader” and a pop-up window select “Register now".

copy trade bybit main trader

That means you have successfully registered. The application form will be sent to the email address. You need to submit all necessary additional documents for further review by Bybit and will get back to you within 10 working days.

Once your application is approved, simply follow the instructions in the approval email to start Copy Trading.

confirm email copy trade

Followers

As a follower, the operation will be simpler, specifically as follows:

Step 1: Go to Copy Transaction

Click select "Derivative" on the menu bar in the left corner and then "Copy Transactions”.

copy trade bybit derivatives

Step 2: Transfer assets

On the Copy Transaction page, click “My Copy Trade” to access User Center (Followers)

copy trade bybit my copy trade

Here, select the button “Transfer” to make a deposit.

copy trade bybit transfer assets

Copy trades will be transferred directly to Copy trading account. You can transfer assets from Derivatives account blood Copy trading account to start trading.

The money transfer window will let you enter the amount you want to deposit Trading copy account. Currently it only supports USDT deposit. Press the button "Confirm” to complete the process.

transfer usdt via copy trade bybit

Step 3: Select Master Trader to copy

2 steps above if you have done it, then just go and find "Main trader” to copy their trade.

Press the button "Follow” for the Master Trader you want to follow at the page Copy Transaction.

Follow the main trader

Agree to the copy trade user agreement and press “Confirm"to access the page"Trade copy settings".

copy trade bybit user agreement

Step 5: Installation of copy trading is complete

At the page "Trade copy settings“. You need to set the following parameters:

  • Contracts: The trading pairs you want to copy.
  • Order cost and leverage: The amount to enter an order (not including leverage) and the leverage you want.
  • TP/SL: Set TP and SL in %.
  • If the money has not been transferred and Copy trading account you can also do it on this page.

Press "Tiếp theo” once you have confirmed the parameters correctly.

install copy trades

Windows "Confirm Copy Transaction” asks you to review some of the parameters you entered earlier. Check again and press the “Copy"when the information is correct.

confirm copy trade bybit

Finally, congratulations! You have successfully copied a trader.

Summary

Thus the article about "Instructions for using the copy trade feature on Bybit exchange” is over, in general the exercise is quite simple to implement. Hope the article will help you to do it successfully and remember to share it with those who need to learn about the above content.

Bybit is the world's fastest growing cryptocurrency exchange, Copy trade is just one product in Bybit's vast ecosystem because there is still spot, p2p, launchpad, lanchpool,... that you can experience. easy task. So, Bybit is a good choice for every trader.

Thank you all for your interest and remember to follow the next articles from Blogtienao.

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