Bybit, the world’s second-largest crypto exchange by trading volume, has announced an innovative new feature: Subaccounts. This game-changing tool is set to transform the trading experience by offering traders enhanced organization and efficiency.
Subaccounts allow users to manage their funds and strategies with greater precision by creating separate accounts under their main Bybit account.
According to the announcement, Users have the option to choose between two types of Subaccounts: Standard and Custodial Trading, each tailored to different trading needs. The benefits of Subaccounts are substantial.Â
They provide superior organization, allowing traders to segregate funds and strategies easily. Monitoring investments becomes more streamlined, as users can track performance across different accounts effortlessly. Additionally, Subaccounts enhance security by adding an extra layer of protection for assets.
Traders can also participate in multiple trading competitions concurrently, manage diverse trading strategies, and gain clear performance metrics from each Subaccount. Setting up a Subaccount is straightforward: users simply need to register with Bybit, complete Level 1 KYC verification, and open a Main Account.
There are no minimum balance requirements, and creating, maintaining, or transferring assets between Subaccounts and the Main Account incurs no fees.
Bybit allows traders to create up to 20 Standard Subaccounts, with up to four eligible for trading competitions.
Also Read: Bybit Launches eRupee P2P Payment with 30,000 USDT Rewards
