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.
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.
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.
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.
I have already discussed some of the main features of the Bybit sub-account above, and here is a quick recap.
Now, if you are ready and excited to create your first sub-account under your Bybit account, let’s get started.
Let me quickly show you how to access the Bybit sub-account creating page on the desktop and mobile app:
To make your life easier :
For this example, I created a “Custom sub-account” and the next screen looks like this:
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.
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.
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 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
You don’t need to do individual KYC of Bybit sub-account, as the main account KYC is used for sub-accounts.
No, there are no fees for Bybit sub-account. This is a free feature that is available to all.