Bybit Enhances User Experience with New Subaccount Feature
Wednesday, 14 August 2024, 10:08
Introduction to Bybit Subaccounts
Bybit, the world’s second-largest crypto exchange by trading volume, has recently launched its innovative Subaccount feature, which aims to redefine how users manage their cryptocurrency trading strategies.
Benefits of Bybit Subaccounts
- Subaccounts serve as individual accounts within the main Bybit account, allowing for more personalized fund management.
- Options include Standard Subaccounts and Custodial Trading Subaccounts tailored for specific trading needs.
- Improved investment tracking across different accounts enhances organization.
- Increased security and participation in multiple trading competitions give experienced traders more diverse strategies.
Differences Between Subaccounts and Main Accounts
Bybit Subaccounts are smaller accounts connected to the Main Account with specific functionalities:
- Subaccounts inherit trading fee discounts but cannot handle direct deposits or withdrawals.
- Features like Bybit Earn subscriptions are limited to the Main Account.
- While joining trading competitions is allowed, Subaccounts are excluded from campaigns and rewards.
- Importantly, they separate Profit & Loss (P&L) from the Main Account.
How to Create a Bybit Subaccount
The process to create a Bybit Subaccount is straightforward:
- Register an account and complete Level-1 KYC verification.
- Open a Main Account.
- There are no minimum balance requirements, and users can manage them fee-free.
- A total of 20 standard subaccounts can be created, with up to four eligible for trading competitions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.