Once you open an account at the virtual currency exchange Bybit, you can safely access it and create and manage multiple accounts, so I will explain. Basically, you will trade using one account, but is it possible to use multiple accounts and operate them for different purposes? And can it be done?
Holding multiple accounts
First of all, Bybit allows you to create multiple accounts called subaccounts. Many exchanges only allow one account when opening an account. Coincheck and bitbank are typical examples. However, Bybit allows you to create multiple accounts, as it is not specified in the terms of use. Deposits, remittances, and transactions are convenient, so we will explain how to make them.
How to create an additional account
In fact, the method of creating an additional account (subaccount) on Bybit is exactly the same as the method of creating the first account. Nothing has changed. The following article introduces and summarizes the account and how to open an account, so please refer to it. There is no need to verify your identity, so there are no disadvantages, and overall it’s a good deal. You can easily deposit and transfer funds.
Meaning of creating multiple accounts
What it means to have multiple accounts on Bybit is an example that applies mainly to people who trade automatically. The first is used for automatic trading, and the second is for discretionary trading. This will allow you to use them properly. Of course, it can be a disadvantage in that management becomes troublesome, so you need to think carefully about how to operate it.
trading strategy
The more trading strategies you have, the more it makes sense to create sub-accounts. Depending on your strategy, you will likely have a variety of ways to fight, such as some accounts only doing long trades and others only short trades, but the advantage of using different accounts for each account is that the way you fight becomes very clear.
form of transaction
Bybit has various trading formats. You can trade in various formats such as spot trading and leverage trading, so the more active users who do a variety of trading, the more meaningful it is to create a sub-account. By narrowing down the transaction details for each account, you will no longer have any confusion and it will be much easier to carry out transactions.
Create a subaccount
Although it is not well known, Bybit has something called a sub-account. This has the following features. In terms of trading, it is almost the same as the main account, and the fees are exactly the same as the main account. Accounts can be deleted or merged from the terminal.
Maximum number of accounts
It is a mechanism that sub-accounts are attached to one main account. And the number of sub-accounts can be up to 20.
Deposit/withdrawal
Unfortunately, it is not possible to deposit or withdraw from sub-accounts. You can deposit and withdraw money from the main account and use it in the sub-account.
profit and loss calculation
The profit and loss calculation method is not calculated by the total of the main account and sub-accounts. The mechanism is such that each is calculated and calculated separately.
How to create a subaccount
Bybit allows you to create multiple subaccounts. First, enter your password and log in. Then, after accessing, click on the red frame at the top right of the page, open the menu, and click on “Subaccount” to confirm. This sub-account has been introduced at most overseas exchanges, and although it depends on your purpose, it is highly recommended as it has many functions and makes transferring funds easy. Please complete KYC before proceeding. You can also receive services through the app.
The screen will change, so select “Create subaccount”. It is a simple and convenient feature, but please be careful when creating or using a sub-account by directly checking the details such as guides and FAQs on the official website. If you have used overseas exchanges such as Binance, Coincheck, MEXC, etc., you should have no problems.
You can create it by selecting a normal account or a custom account, deciding on a user name, and pressing “Confirm”. When you press confirm, a notification will be sent to the registered email address of the main account. Activate by entering the verification code in the email. You can create 20 subaccounts.
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