How to Use Bybit Subaccount
Starting from July 2024, you can link up to four Bybit Subaccounts to join multiple trading competitions simultaneously to reap more profits, instead of only joining one competition with your Main Account. Tempted to open a Bybit Subaccount with this exciting news but unsure how to do so? Follow this step-by-step guide to using Bybit Subaccount and embark on a rewarding journey of trading competitions and more.
Key Takeaways:
Bybit offers two types of Subaccounts: Standard Subaccount and Custodial Trading Subaccount.
You can open two types of Standard Subaccounts: the typical Standard Subaccount, which only requires a username and allows you to easily switch between your Main Account and the Standard Subaccount; or a Custom Subaccount, which requires a username and a password for you to log in directly with the Subaccount.
What Is a Bybit Subaccount?
A Bybit Subaccount is a smaller standalone account under the umbrella of your Bybit Main Account. It’s free to set up, and requires no minimum balance to keep it active. It essentially works like a Main Account, with some exceptions, such as the inability to deposit and withdraw assets and exclusion from Bybit Earn products.
There are two main types of Bybit Subaccounts you can use: the Standard Subaccount and the Custodial Trading Subaccount.
A Standard Subaccount helps a trader organize their assets and streamline the tracking of their trades across different Subaccounts. Up to 20 Standard Subaccounts can be linked to a Main Account, and a maximum of four Subaccounts can be used for trading competitions, such as WSOT and Copy Trading Titans.
Meanwhile, a Custodial Trading Subaccount is handled by a professional trading team of your choosing. An individual investor can connect a maximum of 10 Custodial Trading Subaccounts, while a trading team can link up to 20 Custodial Trading Subaccounts.
Reasons to Get Started With Bybit Subaccount
Bybit Subaccounts give you a plethora of benefits, as you have better control over your funds and investments.
First, your funds are better organized as they’re segregated into different accounts. Secondly, the neater asset organization allows you to better track your investments and properly analyze the profits and losses from each account.
In addition, as Subaccounts can be used for competitions, you can better assess the performances of each competition without the interference of daily trading fluctuations in your Main Account. Since you can connect up to four Subaccounts specifically for competitions, you can participate in multiple competitions during the same time frame and maximize your potential rewards.
How to Use Bybit Subaccount
Before you can create a Subaccount, you’ll first have to sign up with Bybit, complete Lv.1 KYC verification and open a Main Account.
Creating a Subaccount
Step 1: After creating your Bybit account, log in to your Main Account and click on Subaccount under the profile icon. Then, click on Create Subaccount.
Create Subaccount under Subaccount tab
Step 2: Select the type of Subaccount you wish to create: Standard Subaccount or Custodial Trading Subaccount.
Step 3a: If you select a Standard Subaccount, you can create two types: the typical Standard Subaccount, which only requires a username, or a Custom Subaccount, which requires a username and a password.
Step 3b: The Standard Subaccount offers two Standard Subaccount types: Standard Account and Unified Trading Account (UTA). The Standard Subaccount keeps all your trading activities separate, while the UTA combines all your Spot and Derivatives trading activities (except Inverse Derivatives) and all your assets into a single account. Upon selecting your preferred account type, click on Confirm to create your Subaccount.
Choosing between Unified Trading Account and Standard Account
Managing Your Subaccount
Switching Accounts
Step 1: Make sure that the Account Switch feature is enabled in your Subaccount. To activate this feature, log in to your Main Account, head to the Subaccount tab and click on Settings to enable it.
Enabling the Account Switch feature
Step 2a: Navigate between your accounts by hovering the cursor over your profile icon and clicking on the account you wish to use.
Step 2b: Alternatively, click on Switch/Create Account, and a pop-up box displaying the various Subaccount functions (Account Switch, Subaccount Management and Subaccount Creation) will appear.
Step 2c: You can also click on Account Switch on the Subaccount tab to log in to your selected Subaccount. Note that this button is unavailable for Custodial Trading Subaccounts, frozen Subaccounts, or when the Account Switch or Login Permission is toggled off.
Account Switch button on the Subaccount tab
Logging In to Custom Subaccount
Step 1: If you’ve created a Custom Subaccount, you can log in to it directly by going to the Bybit Login page and clicking on Log in with Subaccount.
Bybit Login page with option to Log in with Subaccount
Step 2: You will be redirected to the Log In Subaccount page. Enter your Subaccount username and password to log in.
Logging in to Subaccount
Google Authentication for Standard Subaccount
Google Authenticator verification is only supported for Standard Subaccounts. To set up Google Authentication for your Subaccount, you must first log in or switch to your Subaccount. Then, follow the steps outlined here.
To disable the Google Authenticator bind on the Subaccount, you must log in to your Main Account and click on Settings → Account Security for the chosen Subaccount.
A Standard Subaccount Settings drop-down list showing Account Security
Next, select Unlink on the Account Security pop-up window and click on Confirm. A Set Up Google Two-Factor Authentication pop-up window will appear. Enter the Google Authentication Code of your Main Account, and click on Confirm to proceed with disabling.
Choosing Unlink to disable Google Authenticator
Transferring Assets Between Accounts
Step 1: To make a two-way transfer between your accounts, go to the Assets or Accounts pages of each one.
Step 2a: In the Transfer pop-up window, select the Across Subaccount(s) tab to transfer funds between your Main Account and Subaccounts. You can choose the direction of transfer by clicking on the Switch icon.
Across Subaccount(s) tab on Transfer pop-up window
Step 2b: Alternatively, you can click on Transfer Asset on the Subaccount tab of your Main Account to transfer your funds between any accounts instantly.
Transfer Asset feature on the Subaccount tab
Step 3: You can check your fund transfer history for all accounts by clicking on Transfer History on the Subaccount tab. The Transfer History page shows the different types of transfers you’ve made, such as transfers from your Main Account to a Subaccount, from a Subaccount to your Main Account or between two Subaccounts.
Transfer History on the Subaccount tab
Creating API Key for Standard Subaccount
Standard Subaccounts support API trading, so that you can integrate Bybit API with external automated trading applications. To use Bybit with third-party applications, you must first create an API key on the Bybit platform.
Step 1: To create an API key for your Standard Subaccount, navigate to the Subaccount tab, then scroll right to API Management under the specific Subaccount you intend to create the key for and click on it.
API Management link for a Subaccount
Step 2:A pop-up box reminding you about the safe use of your API key will appear. Click on Understood after reading the reminder.
Create API Keys pop-up box
Step 3: Click on the Create New Key button and follow the steps to create an API key here.
Click on Create New Key to create API key
Deleting/Freezing Your Subaccount
To delete/freeze your Subaccount, click on the Settings of the respective Subaccount from your Main Account, and select Freeze Subaccount or Delete Subaccount. Note that once a Subaccount is deleted, it cannot be restored. However, you can reactivate a frozen Subaccount at any time.
Freeze Subaccount and Delete Subaccount options from Settings drop-down list
How to Create and Trade with UTA Subaccount via Bybit App
Creating a UTA subaccount on the Bybit App is fairly simple. All you need to do is follow the step-by-step guide here.
Step 1: Sign up or log in to your Bybit App
Step 2: Fund the main account and follow the prompts to create a subaccount. Put in your Subaccount nickname, then select Unified Trading Account in the Account Mode, and click Create to proceed with the next step.
Step 3: Once you've funded your subaccount, you can click Transfer. You can transfer funds from your Funding Account on (Main Account) to another Funding Account on (UTA Subaccount).
Step 4: Once you're logged in to your subaccount, you confirm your funds are transferred, and you can choose to trade via Bybit Spot, Derivatives, or the Options.
When to Use Bybit Subaccount
Bybit Subaccount is ideal for professional traders, who can use different Subaccounts to test various trading strategies and leverage the diverse trading tools that Bybit offers. Using Bybit Subaccounts allows traders to compartmentalize their assets and investments, providing better control and organization of funds and trades. Additionally, the ability to join multiple trading competitions simultaneously with Subaccounts can enhance a trader’s opportunities and maximize their rewards. However, it could be complex for beginning investors, as navigating between multiple accounts may be confusing.
Institutional investors will also appreciate the Custodial Trading Subaccount, which offers greater efficiency in managing customers’ funds and investments with its structured and organized approach.
The Bottom Line
While opening a Bybit Subaccount may not be for everyone, this option is infinitely helpful for most traders and institutions. Follow all the steps outlined above to ensure a smooth sailing journey in using your Subaccount and boost your profit-earning potential now.
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