Using Different Bybit Order Types

Using Different Bybit Order Types

Bybit is a popular cryptocurrency exchange known for its robust derivatives trading platform, though it also offers extensive spot trading services. This overview aims to provide a neutral, beginner-friendly introduction to using the platform, focusing particularly on the various order types available to traders.

Core Features and Platform Overview

Bybit provides a comprehensive trading environment supporting both beginners and advanced users. Key features include:

• **Spot Trading:** Direct buying and selling of cryptocurrencies.
• **Derivatives Trading:** Primarily focused on Futures contracts (Inverse and USDT Perpetual/Quarterly contracts).
• **Staking and Earn Products:** Opportunities to earn passive income on holdings.
• **Advanced Trading Tools:** Support for charting, technical indicators, and automated strategies like the Bybit AI Trading Bot.

To get started, new users can Register here to create an account.

Fees and Supported Assets

Bybit employs a tiered fee structure based on trading volume and VIP level, typically using a maker/taker model. Fees for Spot market trading are generally competitive. Derivatives trading fees are structured separately.

The platform supports a wide array of digital assets, including major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), alongside numerous altcoins across various trading pairs. Users should consult the official fee schedule and supported assets lists for the most current information.

Spot vs. Futures Trading Basics

1. 1. 1. Spot Trading

In the Spot market, users buy or sell the actual underlying asset (e.g., buying 1 BTC with USDT). Settlement is immediate.

1. 1. 1. Futures Trading

Futures trading involves speculating on the future price of an asset using leverage. Traders do not own the underlying asset; instead, they trade contracts that derive their value from the asset's price movement. This allows for higher potential profits but also significantly increases risk. For guides on advanced futures trading techniques, see How to Trade Futures Using Ichimoku Cloud Indicators and the Bybit Futures Trading Guide.

Understanding Order Types

The type of order you place determines how your trade is executed in the Order book. Selecting the correct order type is crucial for managing price execution and risk.

The most common order types on Bybit include:

• Limit Orders: Allows the user to set a specific price at which they wish to buy or sell. The order only executes if the market reaches that price or better.
• Market Orders: Executes immediately at the best available current market price. This prioritizes speed over price certainty.
• Stop Orders (e.g., Stop Limit, Stop Market): Used primarily for risk management, these orders trigger a Limit order or Market order once a specified stop price is reached.
• Conditional Orders: More complex orders that trigger based on specific market conditions.

The following table summarizes the primary execution types:

Order Type	Primary Goal	Execution Speed
Limit Order	Price certainty	Slower (waits for price match)
Market Order	Speed	Instantaneous

These orders populate the live Order book, showing the supply and demand dynamics for any given asset pair.

Liquidity and Markets

Bybit maintains high liquidity across its major trading pairs, especially in the perpetual futures markets. High liquidity generally ensures that large orders can be filled quickly without causing significant price slippage. Traders should always check the depth of the Order book before placing very large orders.

Security Practices and KYC

Bybit implements standard industry security protocols, including Two-Factor Authentication (2FA), cold storage for the majority of user funds, and regular security audits.

Regarding identity verification:

• **KYC (Know Your Customer):** Bybit offers different tiers of verification. Basic trading (often involving lower withdrawal limits) may only require email verification. Higher limits and access to all features usually require submitting identity documents (KYC Level 1 or 2). Limits vary based on the KYC level achieved.

Funding, Deposits, and Withdrawals

Users can fund their accounts via cryptocurrency deposits or direct fiat-to-crypto purchases (subject to regional availability).

• **Funding:** Deposits are credited once confirmed on the blockchain.
• **Withdrawals:** Withdrawals are processed according to Bybit's internal review times and blockchain confirmation requirements. Fees apply, which vary depending on the specific cryptocurrency network used.

Mobile and Web User Experience (UX)

Bybit offers a dedicated mobile application (iOS and Android) and a full-featured web interface. The mobile app is optimized for on-the-go trading, while the web platform provides access to more advanced charting tools and detailed settings required for complex strategies. Both interfaces are generally considered intuitive for active traders.

Risks and Responsible Trading

Trading cryptocurrencies, especially derivatives using leverage, involves substantial risk of loss. It is essential for beginners to understand concepts like margin calls and liquidation before trading futures. Never trade with funds you cannot afford to lose. Utilize stop-loss orders religiously, especially when starting out.

First Steps Checklist

Follow these steps to begin trading on Bybit:

• Complete account registration via Register here.
• Enable Two-Factor Authentication (2FA) immediately for security.
• Complete necessary KYC verification if higher limits are required.
• Deposit a small amount of cryptocurrency (e.g., USDT) to your account.
• Familiarize yourself with the Spot market interface first.
• Practice placing small Limit Orders to understand execution before attempting leveraged trading.

See also (on this site)

• Bybit Spot Trading Explained Simply
• Understanding Bybit Futures Contracts
• Navigating Bybit's Fee Structure
• Top Assets Available on Bybit

Recommended articles

• Bybit Supported Assets
• Crypto Futures Trading for Beginners: 2024 Guide to Order Types"
• Order Block Trading
• ETH/USDT Futures: Using Volume Profile to Identify Seasonal Support and Resistance Levels
• Fill or Kill (FOK) Order

Recommended Futures Trading Platforms

Platform	Futures perks & welcome offers	Register / Offer
Binance Futures	Up to 125× leverage, USDⓈ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days	Sign up on Binance
Bybit Futures	Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks	Start on Bybit
BingX Futures	Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount	Join BingX
WEEX Futures	Welcome package up to 30,000 USDT; deposit bonus from 50–500 USD; futures bonus usable for trading and paying fees	Register at WEEX
MEXC Futures	Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT → get 10 USD)	Join MEXC

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