Bybit mobile app: main features and functionality
The Bybit app is a user-friendly platform with advanced features that enable streamlined trading operations. The mobile app offers users the option of accessing the trading platform at any time and from anywhere. Thus, traders can monitor market developments and place orders from their phones. With this app, you can trade from anywhere.
It’s easy to get started with Bybit, as you don’t need to be an experienced trader to use the app; even if you’re new to investing, you can begin using the Bybit app immediately after signing up. The following article explains all the main features and functionalities of the Bybit app as well as its pros and cons.
How to Download and Set Up the Bybit Mobile App
To use the Bybit mobile app, you first need to download it from the Apple App Store or Google Play Store. You can also access the Bybit app from your computer via the Bybit website.
Once you download the app, you need to create a new account by entering your email address or phone number and setting a password. You also need to specify your user name and the country where you reside. Then, you can log in to your account and start trading on the app.
Main Features of the Bybit Mobile App
The Bybit app offers a plethora of trading and investing features that simplify complex trading operations. The app’s main features are as follows: The trading platform – On the Bybit app, you’ll find the trading platform at the bottom of the screen. On this platform, you can place orders, view real-time market data, and track your open positions.
Bybit trading charts – Using the app’s trading charts, you can create technical analysis of market movements and find profitable trading opportunities. You can also use these charts to keep track of existing orders and positions.
Bybit social trading – You can also use the social trading feature to follow the orders of other traders on the app. This way, you can benefit from others’ trading experience and achieve similar trading results.
Profit loss feature – The Bybit app gives you access to spot and derivative crypto trading with advanced exit positions. By setting the TP/SL in the order confirmation window, you can place limit or market orders.
Market watch widget – Monitor market movement at a glance with Bybit's crypto market watch widget that features market intelligence. The widget can be customized with the crypto pairs you prefer.
Fast order execution – You can buy, sell, and trade crypto 24 hours a day, 7 days a week. Platforms can handle 100,000 transactions per second (TPS).
Staking – ByFi Center offers you the opportunity to diversify your investments. Staking USDT in DeFi Mining is a way to earn crypto with Bybit's Dual Asset Mining.
Additional Features of the Bybit Mobile App
Apart from the features outlined above, the Bybit mobile app offers additional trading and investing functionalities. These include:
Charting tools – The charting tools enable you to create candlestick chart patterns, Fibonacci retracements, and Elliot Waves. This functionality is useful for analyzing market trends and making trading decisions based on patterns and other indicators.
Advanced order types – The Bybit app has advanced order types that help you make the most of market conditions. The order types include candlestick, trailing stop, and stop loss orders.
Bybit real-time sentiment analysis – One of the most useful features of the Bybit app is real-time sentiment analysis. This functionality measures the sentiment of traders by analyzing their trading activities on the Bybit platform.
Cryptocurrencies Supported by Bybit Mobile App
The Bybit app supports over 150 cryptocurrencies. You can trade a variety of coins on the app, including Bitcoin, Ethereum, Ripple, Litecoin, EOS, Stellar, Cardano, NEO, IOTA, and Dash.
Apart from trading features, the Bybit app also offers analytical tools that help you keep track of your investment performance and market developments. Users can stay on top of the market with up-to-date price signals with the app's crypto price alerts. If a specified price is met, you will be notified immediately.
Main Advantages and Disadvantages of the Bybit Mobile App
The Bybit app has many advantages over other trading platforms, most notably its robust features, intuitive interface, and easy-to-use trading tools. Here are some of the app’s main benefits: The advanced trading functionalities on the Bybit app make it suitable for both beginners and experienced traders.
The app also offers additional features, such as social trading, for users to connect with others and benefit from their trading knowledge. Bybit boasts excellent customer service, and its representatives are readily available to answer questions and provide assistance. The app also has a great reputation for being secure and reliable.
The only drawbacks of the Bybit app are minor and can generally be fixed with a software update. Here are some of the issues you should keep in mind when trading on the Bybit platform: The app’s trading tools are primarily designed for crypto asset trading, which means you can’t use them to trade traditional financial assets such as stocks and commodities.
Furthermore, Bybit’s advanced features can overwhelm new traders and make trading seem more complicated than it really is. These issues are not major problems and can be resolved with minor software updates.
FAQs
Is Bybit an exchange or wallet?
Bybit is an exchange. It’s a marketplace for buying and selling cryptocurrency derivatives.
Is Bybit app legit?
The Bybit cryptocurrency exchange is a legitimate exchange based out of Singapore, and it is registered in the British Virgin Islands. Over 2 million users trade with them daily, and their trade volume often exceeds $10 billion within 24 hours.
How can I withdraw money from Bybit mobile?
Yes. To withdraw funds via the mobile app, click the "Assets" button on the homepage's bottom right corner. To withdraw money, simply click "Withdraw" and select your desired currency.
How long do Bybit withdrawals take?
There is an immediate withdrawal option in Bybit. Depending on the blockchain and its current network traffic, the instant withdrawal may take up to 30 minutes to process. There may be delays in withdrawals due to network congestion.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.