Bybit is one of the most popular cryptocurrency exchanges for derivatives trading, offering high-leverage trading, a user-friendly interface, and a wide range of features. However, many traders especially beginners are unaware of the hidden features that can take their trading game to the next level. Pro traders have discovered several unique tools and strategies on Bybit that give them an edge over the competition. In this article, we’ll explore these hidden features and show you how to maximize your trading potential on Bybit.
1. Advanced Order Types for Precision Trading
Most traders are familiar with market and limit orders, but Bybit offers advanced order types that pro traders use to manage risk and optimize their entries and exits:
Conditional Orders
Conditional orders allow traders to set specific conditions before an order is executed. For example, you can set a stop-loss or take-profit order that only activates once a certain price is reached. This is useful for executing trades without constantly monitoring the market.
Post-Only and Reduce-Only Orders
- Post-Only: Ensures your limit order is placed as a maker order, avoiding taker fees.
- Reduce-Only: Ensures that your order only reduces your existing position and does not accidentally increase it.
Using these features can help you save on fees and prevent unwanted position increases.
2. Bybit’s Dual Price Mechanism – Avoid Liquidation Tricks
Bybit uses a dual-price mechanism to prevent unfair liquidations. This means your liquidation is based on the mark price rather than the last traded price. This feature helps prevent price manipulation that could cause traders to be liquidated unfairly.
Pro Tip: Always monitor the mark price rather than just the last traded price to ensure your stop-loss levels are placed accurately.
3. Leveraged Trading Strategies with Isolated and Cross Margin
Bybit allows traders to use both isolated margin and cross margin for leverage trading:
- Isolated Margin: Limits the margin to only the specific position, meaning you won’t lose more than the allocated margin.
- Cross Margin: Uses your entire account balance as margin, which can prevent liquidation but also risks a greater loss if the trade goes against you.
Pro Tip: Pro traders often use isolated margin for short-term high-risk trades and cross margin for long-term trades to avoid unnecessary liquidation.
4. Bybit’s Hidden Fee Reduction Tricks
Many traders overlook the fact that Bybit has a maker-taker fee model:
- Maker orders (limit orders that add liquidity) earn rebates or have lower fees.
- Taker orders (market orders that remove liquidity) have higher fees.
How Pro Traders Save on Fees:
- Always place limit orders with post-only enabled to avoid taker fees.
- Join Bybit’s VIP program or use referral bonuses to reduce trading fees further.
- Use Bybit’s launchpad or staking features to earn additional rewards and cover fees.
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5. Trading Bots and API Automation
Bybit allows traders to integrate trading bots and APIs for automated trading strategies. Pro traders take advantage of this by:
- Setting up grid trading bots to automate buying and selling within a price range.
- Using API trading to execute trades based on real-time market conditions.
- Automating dollar-cost averaging (DCA) strategies to accumulate positions over time.
Pro Tip: If you’re not a coder, you can still use third-party services like 3Commas, Pionex, or Bybit’s built-in bot features to automate your trades.
6. Bybit’s Hidden Bonus & Airdrop Opportunities
Many traders don’t realize that Bybit offers multiple bonus opportunities:
- Deposit Bonuses: New users and existing users often get rewards for depositing crypto.
- Trading Competitions: Pro traders join these to earn massive prize pools.
- Airdrops: Bybit occasionally airdrops new tokens to active users.
Pro Tip: Always check Bybit’s promotions page and follow their social media to stay updated on the latest bonus offers.
7. Bybit’s Testnet for Risk-Free Practice
Before risking real money, pro traders often use Bybit’s Testnet to practice trading strategies in a risk-free environment. This is a great way to test new leverage strategies, bots, and order types without financial risk.
Pro Tip: If you’re trying out a new high-risk strategy, always test it on Bybit’s Testnet first before using it on your main account.
8. Bybit’s Peer-to-Peer (P2P) Trading for Instant Fiat Transactions
Bybit has a P2P trading feature that allows users to buy and sell crypto directly with other traders using multiple fiat payment methods. Pro traders use this to:
- Buy crypto at a lower price than regular exchanges.
- Avoid high deposit or withdrawal fees from traditional banking methods.
- Quickly move funds between fiat and crypto without needing third-party exchanges.
9. Bybit’s Copy Trading – Learn from the Best
Bybit has a copy trading feature where users can copy pro traders’ strategies. Some advantages include:
- Beginners can earn passive income by following expert traders.
- Pro traders can earn a commission from followers.
- Copy traders can analyze top-performing traders before selecting them.
Pro Tip: Don’t blindly follow a trader check their past performance, risk management, and trading style before copying their trades.
10. Bybit’s VIP & Referral Program – Earn While You Trade
Bybit rewards high-volume traders through its VIP program and referral system:
- VIP Traders: Get lower trading fees and priority support.
- Referral Program: Earn commissions on trades made by users you refer.
Pro Tip: Even if you’re not a high-volume trader, you can still earn passive income by referring friends and social media followers to Bybit.
Conclusion: Master Bybit’s Hidden Features Like a Pro
Bybit offers far more than just simple crypto trading it has hidden features that can significantly enhance your trading experience. Pro traders take advantage of advanced order types, leverage management, fee-saving tricks, automation, and rewards to maximize their profits.
If you’re serious about trading on Bybit, start exploring these hidden features today and incorporate them into your strategy. The more you optimize your trading approach, the higher your chances of success in the volatile world of crypto trading.