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2023-11-14 07:58:09

How to Create Bybit Sub Account & Important Details

If you’ve ever wanted to have more than one Bybit account to test your different trading strategies, you might be disappointed to learn that Bybit offers only one account per KYC user.

Well, today, you are on for a treat as I’m sharing about a less-known feature called “Bybit sub-account feature”, which is one useful feature for individual traders, professional asset managers, or investors. 

This detailed guide outlines everything you need to know before creating your own sub-account on Bybit.  

What is Bybit sub-account?

Bybit which is a popular crypto exchange (in the top 3 globally), offers a feature where you can have multiple sub-accounts under your main KYC’d Bybit account. 

Think of your existing account as “main account” and within the main account, you can create up to 20 standard sub-accounts. This way, as a trader, you can test different strategies or you can use this sub-account feature to give access to your trader friends to run their strategies. 

Bybit offers three types of sub-accounts:

  • Standard sub-account – In this account, you create a username only, and you can switch between the main account and sub-account from your app (It supports both web and mobile).
  • Custom sub-account – In this sub-account type, you create a username and password, and you can log in via the Bybit sub-account login page.
  • Custodial trading sub-account – This account type is for investors who wish to use a service of professional trading teams for asset management. I’m not dwelling deep into the custodial trading sub-account in this article, but if you need more info, just let me know and I will do a detailed guide and tutorial another day. For now, look at the below chart to understand custodial trading sub-account.
Bybit Custorial Trading Sub Account

As a main account holder, you can transfer assets between your main account to sub-accounts, between different sub-accounts, and from sub-account to main account. However, sub-account users can only transfer funds from their sub-account to the main account. 

What are the Benefits of Bybit sub-account?

Apart from using your sub-account for testing different investing and trading strategies, there are many advantages of using a sub-account.

The sub-accounts don’t have the option to withdraw funds directly. It can only be transferred to the main account, and thus it enhances security when you are working as a team or need more security. 

The sub-account uses the same fee structure as the main account, and if you are a Bybit VIP user under your main account, you will end up saving a significant amount of money as fees. However, instead of a sub-account, if you create a new account, it will be treated as a fresh account.

Features of Bybit sub-account

I have already discussed some of the main features of the Bybit sub-account above, and here is a quick recap.

  • Up to 20 sub-accounts – Under a standard sub-account, you can create up to 20 sub-accounts. Custom sub-account limit is different.
  • Account switching – You can switch between your main account and sub-account with one click on the desktop as well as a mobile app.
  • Transfer assets – You can transfer assets between the main account and sub-account for free. There are no limitations, and you can freely move funds between main and sub-accounts.
  • Create API – As a main account holder, only you can create API key which can be used by 3rd party trading tools or trading journals.

Now, if you are ready and excited to create your first sub-account under your Bybit account, let’s get started.

How to create Bybit sub account (Step by step)

Let me quickly show you how to access the Bybit sub-account creating page on the desktop and mobile app:

On desktop:

Create Bybit sub account on Desktop

On mobile:

Create Bybit sub account on Mobile
Once you are on the create page, you can click on “Create sub-account” and select the option that you need.
Create Bybit Subaccount

To make your life easier :

  • Select ‘standard sub-account’ when only you plan to use this sub-account. (No password, and only account switching)
  • Use ‘Custom sub-account’ when you are giving access to others. (Account switching and password)
  • Use ‘custodial trading sub-account’ when you are using a professional asset management company.

For this example, I created a “Custom sub-account” and the next screen looks like this:

Create bybit subaccount

You need to select between “Unified trading account or standard account”. If you are not aware of Bybit unified trading account, then simply select “Standard account” for security.

Create a username. Example: MyTradingCar

Scroll down to select a password, and confirm to create the account.

How to add funds to Bybit sub-account?

You can go to the sub-account page on desktop or on mobile, and click on transfer to move funds between the main account to a sub-account or vice versa.

This part is super easy, and once you have created your sub a/c, you will be able to figure this out intuitively.

How to create API for Bybit sub-account?

Pay extra attention to this, or else you might end up making a mistake.

In order to create sub-account API, you need to go to the sub-account page and select “API management” under the account name for which you want to create/delete/manage API. (See the screenshot below)

Bybit API management

How to access Bybit sub account on mobile app?

  • Click on your profile icon at the top left, this will bring up the menu.
  • Click on the drop-down to switch between multiple sub-accounts on Bybit mobile app (see screenshot)

Conclusion – Bybit Sub-account Review

Bybit sub-account is one of those interesting features that is least explored by a Bybit user. This feature not only helps an individual trader to do more with their Bybit account. You can actually have individual traders working under you or your friends and the group can all manage one account, and you as the main account owner have the maximum control.

It is also a way for professional crypto traders to offer asset management facilities to other individual or business investors.

Overall, I urge you to explore this feature and see how you can creatively use it to improve your crypto trading journey. If you think of any other creative use of Bybit sub-account feature, I would love to hear it in the comment below.

FAQs related to Bybit sub-account

How to do KYC of Bybit sub-account?

You don’t need to do individual KYC of Bybit sub-account, as the main account KYC is used for sub-accounts. 

Are there any extra fees for creating Bybit sub-account?

No, there are no fees for Bybit sub-account. This is a free feature that is available to all.

News appeared first on: Coinsutra.com

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