Bybit, the world’s second-largest crypto exchange by trading volume, has announced the launch of its innovative Subaccount feature, according to the most recent information shared with Finbold on August 14.
The new tool is set to redefine how Bybit users approach their cryptocurrency trading strategies through enhanced organization and efficiency.
What do Bybit Subaccounts bring?
Subaccounts on Bybit function as individual accounts within the main Bybit account and allow for more personalized fund management and strategizing.
Traders can now select between Standard Subaccounts and Custodial Trading Subaccounts, each tailored to meet specific trading needs.
The new feature likewise makes it possible to track investments across different accounts more intuitively, adding an extra layer of convenience.
Security is further bolstered as well, and traders can participate in multiple trading competitions at the same time, a solid addition for more experienced traders looking to diversify their strategies.
The performance metrics of each Subaccount are clearly defined, providing valuable insights for making informed decisions.
The differences between Bybit Subaccounts and Main Accounts
Bybit Subaccounts are smaller accounts linked to the Main Account, offering similar functionalities but with some key differences.
While Subaccounts inherit trading fee discounts, they cannot directly handle deposits, withdrawals, or transfer funds to the main account.
Features like Bybit Earn subscriptions and referral or affiliate programs are also limited to the main account.
Also, Subaccounts can join trading competitions but remain excluded from campaigns, rewards, and bonuses.
Finally, a significant benefit of Bybit subaccounts is the separation of Profit & Loss (P&L) from the Main Account.
How to make a Bybit subaccount?
Creating a Bybit subaccount is straightforward, and users only need to register, complete the Level-1 know-your-customer (KYC) verification, and open a Main Account.
There are also no minimum balance requirements to maintain a subaccount, and users can create and manage them without incurring fees.
In total, traders can make up to 20 standard subaccounts, with up to four eligible for trading competitions.