 What's up guys, welcome back to Bitcoin Daily. In today's video, we're doing a tutorial, full tutorial on Bybit app, Bybit mobile, that's right. So this is completely different than the other tutorials. This is on the actual app itself. We're showing you guys how to use the app, how to make trades on the app and how to use a different function that the app offers to you guys. So we hope you guys enjoyed this video. Please make sure to hit that like button, hit that share, hit that subscribe and hit that notification bell. So we can continue to grow this community and continue putting out this free content. Thank you guys, peace and love, enjoy. If you guys have not opened up a Bybit account as of yet, it's very simple to do. You can check the description of this video and hit that link or go to the comments and go to the pinned comment and hit that link where it says sign up. After that, they're giving away $520 for free to anybody that signs up. All you gotta do is go ahead and use that coupon that says win $500 all caps. And then depending on what bonus you want, look at how much you have to deposit. We have the Bybit tutorial for the PC and we have the Bybit tutorial for the mobile app here. If you guys have any questions, let me know. Anybody that signs up using my link is supporting my channel and I will get a commission paid on that. So I thank you in advance. Alrighty guys, so we're now looking at the Bybit app and this is exactly what you will see when you first launch your app. All right, so once you're here, you're gonna be on this home screen on the bottom left-hand corner. And here you can basically see the contracts that and the different currencies that you can trade and you can see that you can either do inverse, perpetual contracts or USD, right? So it's two different ones. Now you're probably asking and wondering what's the difference between these. So if you're gonna trade the inverse ones, you have to actually hold and deposit the underlying currency for that. So for example, if you wanna trade Bitcoin, you have to deposit Bitcoin into the Bitcoin wallet. If you wanna trade Ethereum, you gotta deposit Ethereum into the Ethereum wallet and so forth, you can't trade Ethereum with Bitcoin or Bitcoin with Ethereum. So that's the big thing about those two. In USDT, you have some different coins that you can also trade. So in inverse, you have Bitcoin, Ethereum, EOS and XRP. In USDT, you have Bitcoin, Ethereum, Tezos, Litecoin and Chainlink. Okay, so that's the other difference. Now when you're in USDT, you can use just have the USDT and use that to trade all of these basically. So you don't have to worry about which one you're in. You don't have to worry about having to exchange a coin for another coin to trade it and stuff like that. And because it's brand new and just got added to the platform, you're gonna notice that there's a 30% off currently. You'll see that it says that. What that means, it's a 30% off on your trading fees. Okay, so on any trading fees that you pay when you're trading, you're gonna get a 30% discount when you're trading the USDT contracts. All right, so what do I prefer when it comes to this? Currently, because of the trend that we're in, I'm using the actual contracts. So I'm using the actual underlying assets because I want to be exposed to them even when I'm not in an active trade. So for example, if I'm trading Bitcoin but I'm not in an active trading Bitcoin, I want to still have my funds in Bitcoin so that I'm exposed to the ups and downs of Bitcoin. I wanna make sure that I'm in it when it's moving up. Not just when I'm in a trade. Now, once it starts getting to levels like now or where you might think it might reverse or if we're in a bear market or anything like that, then I would be trading in USDT because I wanna make sure that I retain and preserve my capital and I don't want its value to go down. So that's how I differentiate which ones I'm using because I currently wanna be exposed to the markets up and ups and downs. I'm currently trading inverse contracts if I decide that I wanna be in cash, then I'll be trading the USDT contracts. Okay, hopefully that makes sense to you guys. I feel like it makes sense in my head. So that's the big difference between them. Now let's jump to the next tab on the bottom left which is chart and this is pretty straight up. This is just the chart. So here you can see the different charts. You could play around with it, you can move it around, do whatever you want, put it in different time frames, five minute, 15, four hour. You could even add indicators if you really wanted to. You can see here you could add different indicators and there's even advanced drawing tools and advanced settings that you guys can mess with. I definitely encourage everybody to play around with those. Here you're gonna see the order book. You could see the filled contracts. You could see different contracts. You see here the buys, the sales and so forth. What you can do and anything you can do as well, if you wanna change the coin you're looking at on the top left, you just go ahead and hit it and then you're gonna be able to see the different coins here. So you could click whichever one you want. So I clicked Ethereum for example. Boom, here's the Ethereum chart. I could hit it again. If I wanna go to USDT and see Ethereum there, I could just hit that. Boom, and it switched me over to that chart. So that's the way that you can do that. And that's pretty much it. That's pretty much all the options and things that you have on this tab. So now the next tab that we're gonna check out is the middle button, right? So let's go ahead and press it. And here is where you can see your active trades and you can see your active orders, right? So for example, right now you just saw that my order got filled. I had an active trade that I opened up and then I had a conditional order that I had it was here and it just triggered right now, which sold my position, right? So that was an active trade I had and this is where you're gonna be watching your trades. This is where you're gonna be setting up your trades. And this is where you basically manage everything. This is where you're gonna manage your trades, right? So we're gonna come back into this section in a little bit. I just wanna continue going through the other tabs and then we'll come right back to this, all right? So then the next tab is the alerts. So I've had a lot of people ask me about how to set alerts on Bybit. So it's actually pretty simple as you guys can see here. I have different alert setup, including one for 20,000 that you can see right there, right? So let's go ahead and create a new alert. So let's see, let's take one of these old ones out to the 17.6K support, right? So let's take this one out and we're gonna say 19K support, right? So basically I wanna know anytime that that Bitcoin goes below this range, it'll notify me, right? So what you're gonna do, you can name it whatever you want. You choose your contract, I'm choosing Bitcoin, choose your candle frequency, I leave it on 30 minute. Tracking variable, I'm on price, right? So now trigger is where the main thing you have to change here. Where you go to trigger, make sure you hit crossing down or crossing up, okay? So for this one, I'm doing crossing down. Once you hit crossing down, it should show you the tracking variable for price should be there and the target should be at value, right? So, and then you just go ahead and you put the price that you wanted to track. So I want 19,100. I wanna know if it goes under that, I wanna be alerted. So I go ahead and enter that there and I hit save, boom. Now that is done, as you guys can see there on the top, it says 19.1K support and then it tells me what is tracking, BTC, USD, price crossing down, 19,100 USD. So I have my alert set and that's how you set alerts. You just do the same thing for Ethereum, you know, for whatever it is you want, okay? So that's pretty simple, pretty straightforward. And then obviously the last tab here is gonna be the asset tab where it's just gonna show you all your stuff here. It's gonna show you, you know, whatever it is you have, how much of it you have. Here you can deposit, you can withdraw, you can exchange, you have all the different options here. It'll show you, you know, your amount, how much you're holding of each. And yeah, that's pretty much it. You have your settings here, username, wallet addresses, security, everything, everything's here. So that's pretty much that. Up here you have your system notifications. And that's pretty much it guys, as far as the different tabs that you have in the bottom. So we're gonna go ahead and talk about trade orders. So the first thing we're gonna do, we're gonna talk about how to set a conditional order as this is the order that we use the most in our trade room and we use the most for ourselves and our team. So the way that you're using, we're gonna show you how we use it and then you guys, you know, we'll talk about some of the other features. So currently, you see how the price is at 19,000. We're gonna set a conditional order for it to buy, for it to trigger if it goes above 19,100, right? So we already have basically our thing set up. We're gonna go ahead and hit buy. And like you just saw, it just set up the order there. And all we have to do now is just wait and that order triggers on its own. There's nothing else that we have to do. You'll see once the price gets to that order, to that order's range, it will trigger on its own. We don't have to do anything. So let us go ahead and explain how it is that it works and why we set it up this way and break it down for you guys. All right, guys. So the first thing that we're gonna look at here when we're setting up a conditional order, this is the first thing that we did. So the first spot is up here, right? Let me take this off and you're gonna see that it says trigger price and then here it says a contract quantity in USD. So those are the first things that you're looking at, right? Obviously on the top, you're gonna say if you're going long or short, long is if you're buying, thinking that the price is going up short, if you're buying and thinking the price is going down. So we were long, we set our order for a long. We set this as a conditional order and what a conditional order is is basically a stop order. They just name it differently on Bybit. So it's an order that it triggers once the condition is met. So here, the way that we set it, we almost always use market orders for any conditional orders because we don't wanna miss a movement. If you have it set up as limit, the price could skip your order and just keep going and your order will not trigger. So because we don't want that, we don't mind slippage and we don't mind paying the fees in order to get into the trade. We always go ahead and hit market orders. And like that, we don't have to worry about anything like that. The next thing is here where it says index. So you're gonna have three different things here. It's market, index and mark, right? All right, so when we're looking at, over here at market, index or mark, market is basically the last price, right? So if you want your order to be triggered by market, market price, that's gonna be triggered by the last price. So as soon as there's any transaction that hits that order even one time, it's gonna trigger, right? So that's gonna be the fastest way to get your order to trigger. Now the issue with that is that there could be just one contract bought at that price and then it just drops down. So even though you will get a faster fill, the market could just drop on you and you could get stopped out a lot easier. So that's the issue with that. There's always pros and cons to everyone. The next one is index. Index price is basically the average price of multiple exchanges combined, right? So we use index at times. It just depends. It's all dependent. Everything varies as always with everything in trading. There's no one right answer. So for index, the good thing about it is that it can avoid triggering your position when it's not really, the market's not really pushing up. That's the good thing. The bad thing is that usually when it does trigger your position, it'll, you'll have a bit more slippage. So meaning if my, my, our current order is set for 19, 110, but because of the index, because we have it set with index, we might not get triggered until that price is a bit higher. So we might end up getting triggered at 19,130 or something like that. Maybe 140, 150. It all depends how fast and tighter market moves and what's, you know, what's the best order available when it finally does, when it does trigger. And then the last one is mark price. So mark price is the average between the funding basis and the index price. So that's the mark. I don't really know too much about that and don't really even know what that means exactly. But if you guys want more information, you can check it out on, on Bybit's website. They have a, you know, frequently asked questions spot where you can look up all that different stuff, right? So I don't know about it cause I don't use it. So stick, my recommendation stick to index, stick to market slash last. Those are the two that you guys should probably be using the most either way. And I already spoke to you guys about limited market. The only time I'm using limit orders is when I'm taking profits, everything else, I'm using market orders. That's pretty much it. You know, limit orders, I don't mind doing limit orders when I'm taking profits, but when I need to either get out, get into the entry or get out of the entry, I need market orders because I need the order to fulfill as immediately, you know, as fast as possible. I don't want to, I don't want my order to get skipped. I need to make sure it gets fulfilled. If your contracts and your orders do not get fulfilled, that's how you take huge losses for no reason. So it's better to do market orders and pay a little bit of slippage and a little bit of fees than to have your entire order skipped and lose out on possibly thousands of dollars just because you set up a limit order versus a market order. And then the last thing is contract quantity. So this is all dependent on your position size, how much your portfolio is. You'll see that the more I move it, the more or less contracts that it'll tell me, right? Another thing is up here on the top right is where you can choose your margin. This is very, very important guys. Make sure that you're trading on isolated, not on cross margin, okay? So this is cross margin. You can see that the liquidation price is calculated from the total available balance of currency. In the event of liquidation, all account balances in that currency will be lost. Please manage the position and risk accordingly. Guys, do not use cross margin. If you use cross margin, even though you only put a percentage of your funds into the trade, cross margin, you're giving it the permission to use all of the funds in your account, okay? So it can literally liquidate your entire account in a losing trade without a stop loss, all right? So because of that, the safest way to trade is isolated, right? And so you see how you can change your leverage? If you're starting out, I recommend 2X max leverage. Guys, leverage is very, very risky. Leverage does not make you a better trader. Leverage, what it does is emphasizes the type of trader that you are. So if you are a winning trader and you use leverage, in the long run, you'll be a bigger trader, bigger winner, right? But if you're a losing trader and you use leverage, you're gonna emphasize the losing aspect of your trading game. So it's gonna make you a bigger loser. So leverage is not something to play with so much. It's not something to go crazy with. It's not something to experiment with. Guys, I have seen people blow their accounts time after time because they're greedy and they're not satisfied with having 2X, 5X, 10X leverage. They wanna go ahead and go balls to the wall with 100X leverage and then their account immediately just gets liquidated. Guys, do not do it. Stick to 2X if you're new. Stick to 5X if you're intermediate and then if you're consistently a winning trader for months and at a time, not for one day. Guys, okay, not for one day. If you've been a consistent winner for a long time, okay, then you can go up to 10, right? Guys, if you're not a consistent winner, you should not be at 10X. You should not be at 10X. You should be using 2 and 5. 2 and 5 is where you have to stay until you're a consistent winner. If you're not consistent, you're gonna just make your losses bigger. It makes no sense, all right? So stick to 2 and 5, guys. Do not go beyond that until you're a consistent winner over at least a three month period. Then you can go to 10X. If you can consistently win at 10X for another three month period, then you can start experimenting beyond 10X. But other than that, you should not ever go beyond that. I've been trading for years and I do not go beyond 10X very frequently. So I do not recommend it for you guys. Another thing about the fees, if you're using market orders, your paying fees, if you're using limit orders, you're getting paid fees, okay? The fees aren't crazy, so don't start setting just 100 limit orders and trying to collect payments. I don't think you can make that much money, but hey, if anybody tries, let me know how it goes. That'll be interesting to see. And the last thing is funding rate. You can see it over here on the right side. I can't click it, but just see on that middle right side, it says funding rate 0.0877% and it says next funding three hours, 14 minutes and 16 seconds. So every eight hours, the funding rate is when the funding rate happens. If it's positive, you see how it's currently positive. So it's plus or it's 0.0877%. So that means the long positions, anybody that has a long position, open will pay any short position. So when the funding rate is positive, long positions will pay the short positions. When the funding rate is negative, then short positions will pay the long positions. If you don't want to pay anybody, close your positions before that funding rate timer runs out and then you can reopen your position once that funding rate timer resets. What's up guys? I hope you guys enjoyed this video. Thank you guys so much for watching. That's pretty much it. We've done a tutorial on how to use Bybit on your web browser and a tutorial on how to use Bybit now on your mobile app. Hopefully you guys have everything covered now. If you guys still have any questions, let us know in the comments and we'll try to answer. If we have the answer for it, we'll try to get it back to you. All right guys, thank you so much. As always, peace and love.