Learn how you can import your mnemonic phrase for Bybit Wallet with our comprehensive article.

For new users, it's recommended that they familiarize themselves with the wallet's basic operations, understand its features and characteristics, and then start using and importing mnemonic phrases.

If you haven't installed Bybit Wallet yet, please click 

After installation, you can pin the Bybit Wallet to the toolbar through the following steps:

 icon in the upper right corner of your browser, and the Bybit Wallet will pop up the initialization interface.

Before using your Bybit Wallet, please set a password first. This password is used to unlock your wallet and encrypt your key information. The local password will not be uploaded to our server, so please keep it carefully. Once lost, the password cannot be retrieved.

After entering the password, please check the 

If you are already using Bybit Wallet, then you only need one step to import your mnemonic phrase.

Please click on the wallet address to enter the wallet management page:

Next, enter the device password you created for the wallet and click 

After setting the local password, please select 

If your mnemonic phrase length is 12, you can click the 

 input box and paste it directly. Of course, you can also manually enter them one by one.

In addition, we also support mnemonic phrases of different lengths, which are 12-, 15-, 18-, 21-, and 24-word mnemonic phrases, all of which can be imported into Bybit Wallet. Please choose the one that suits you.

 button to import. Bybit Wallet will search for the wallet address that has assets under the mnemonic phrase and automatically import it into Bybit Wallet.

At this point, the mnemonic phrase has been successfully imported into Bybit Wallet.

In the import wallet interface, you can also choose to import the wallet using your private key. Just click 

, then enter your private key in the input box, and then click 

Now, you can start using Bybit Wallet to your heart's content. Remember to update your wallet regularly to get the latest features and optimizations. We are always working hard to improve and enhance the user experience of Bybit Wallet. If you have any suggestions or feedback, feel free to let us know any time.

Beginner

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How to Import Your Mnemonic Phrase for Bybit Wallet

USDt's launch on TON leverages Telegram's massive user base for enhanced peer-to-peer payment efficiency. Learn more here.

Stablecoins play a pivotal role in the digital economy, offering a bridge between traditional fiat currencies and the volatile world of cryptocurrencies. Tether (USDt), the foremost stablecoin by volume and usage, has expanded its reach by launching on The Open Network (TON), a significant move that integrates with Telegram to streamline 

In this article, we’ll explore USDt’s launch on TON, the advantages of USDt being on TON, how this launch benefits the ecosystem, and the ongoing Bybit x TON campaigns that you can participate in.

, widely recognized by its symbol, USDt, holds the title of most heavily utilized stablecoin in the cryptocurrency market. It boasts an impressive daily transaction volume that has exceeded $85 billion and maintains a total market capitalization of over $106 billion. Each USDt token is directly pegged to the U.S. dollar at a 1:1 basis and is 

This stability is critical, distinguishing USDt from more volatile cryptocurrencies and making it indispensable for daily transactions, trading, remittances and safeguarding assets against the fluctuations common in the digital currency market. The inherent stability of USDt renders it a preferred medium for various financial activities, including exchange platforms, decentralized finance (

Previously, USDt lacked a distribution platform that could truly simplify and globalize payments for a wide audience. Its recent integration with TON addresses this void by offering an easy-to-navigate, globally accessible payments experience with the potential to reach millions.

, a blockchain network designed for speed and scalability, is deeply integrated with Telegram, a popular messaging platform. This integration enables TON’s blockchain to leverage Telegram's extensive user base, providing a seamless and intuitive user experience for cryptocurrency transactions directly within the messaging app.

The launch of USDt on TON, announced in April 2024, provides 900 million monthly active Telegram users with a fresh 

 experience, enabling peer-to-peer payments on a global scale. 

 views this as a pivotal advancement in leveraging digital currencies for everyday use worldwide. In collaboration with Tether, TON is set to simplify one of the most common financial activities—peer-to-peer payments—making them as straightforward as sending a message, with no intermediaries, borders or limitations.

Paolo Ardoino, CEO of Tether, has expressed enthusiasm about this initiative, highlighting its alignment with TON's vision for an open, decentralized internet and a borderless financial ecosystem. According to Ardoino, the integration of USDt with TON will facilitate seamless global transactions, offering an experience that rivals traditional financial systems and supports the broader mission of enhancing financial infrastructure across the blockchain domain.

This strategic move is integral to TON's broader mission of embedding cryptocurrency use into everyday life and making digital assets accessible right from Telegram, thus potentially onboarding hundreds of millions into the web3 ecosystem. This represents a significant step toward actual use cases of cryptocurrency that hold the promise of widespread adoption.

11 Million Toncoin in USDt Launch Incentives

To mark this significant launch of this initiative, substantial incentives have been designed to attract early adopters. A total of 11 million Toncoins have been allocated as incentives, including: 

These incentives are time-sensitive, which underscores the launch's unique appeal and potential impact.

Note, however, that the availability of USDt on TON is restricted in certain regions, including the mainland U.S. and its territories, as well as for U.S. citizens and in prohibited countries as defined under Tether’s Terms of Service, due to regulatory considerations.

The deployment of USDt on TON heralds a new era in digital finance, leveraging the network's superior efficiency, scalability and security features. Combined with the expansive reach of Telegram, the platform sets an ideal stage for enhancing USDt’s accessibility and utility.

Following are the main advantages of USDt on TON.

These features embody the vision of a decentralized, peer-to-peer financial system without intermediaries, aligning with Bitcoin creator 

’s vision of “a purely peer-to-peer electronic cash without an intermediary.”

How Does USDt on TON Benefit the TON Ecosystem?

Integrating USDt with TON and its native Wallet in Telegram significantly enhances the user experience for the TON community. This integration allows USDt to operate as a native stablecoin within the TON ecosystem, enabling users to send USDt to anyone globally through Telegram at no cost. Unlike other on-chain wallets that might involve additional fees, transactions within the TON ecosystem are free of hidden charges, with users only responsible for nominal network fees. Soon, they’ll also have the option to cover on-chain gas fees using USDt-TON, further streamlining the process.

This development is particularly advantageous for those new to cryptocurrencies. USDt on TON serves as a welcoming gateway, merging the benefits of digital currencies with the stability of traditional fiat currencies. This blend significantly simplifies the crypto experience, providing newcomers with a stable and secure platform to explore DeFi on Telegram and broaden their understanding of the digital economy. 

Additionally, this integration not only enhances usability but also fosters inclusivity, making digital currencies more accessible and functional for a global audience.

To celebrate the launch of USDt on TON, Bybit is holding two exclusive events where you can earn a share of the total 120,000 USDt prize pool! The events are being held from Apr 29, 2024, 10AM UTC through Jun 23, 2024, 11:59PM UTC.

Event 1: Learn & Earn: TON Airdrop of 80,000 USDt

Grab a share of the 80,000 USDt prize pool by following the four simple steps below:

All eligible participants will split an equal share of the prize pool, capped at 3 Toncoin per user,

Event 2: Refer & Earn: Invite New Users, Unlock 40,000 USDt in TON Rewards

Interested in learning more? Simply invite new users to join Bybit and participate in the first event. Both you and your qualified referee will receive 0.3 Toncoin each.

Please take note that rewards will be distributed on a first-come, first-served basis.

The launch of USDt on TON is more than just a technical integration: it’s a strategic expansion that could redefine global digital payments. By combining TON's advanced blockchain technology with Telegram's widespread adoption, Tether has positioned USDt to significantly influence the future landscape of DeFi and peer-to-peer payments.

Intermediate

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USDt on TON: Streamlining Peer-to-Peer Crypto Transactions

Complete these steps to deposit easily on Bybit, fast and easy. Don't worry, it's beginner-friendly.

Looking for a guide on how to deposit funds on Bybit? We hear you! Here’s a detailed operation process so that you can easily make a deposit by transferring cryptocurrency from your external wallet, or purchasing fiat currency to deposit to your Bybit account.

Funding Your Bybit Account: Depositing Crypto on Bybit

Before you can fund your Bybit account, you first need to 

. If you don’t already have one, please click on our 

. After you’ve done that, we can explore the different ways you can fund your Bybit account.

If you already have funds in an external crypto wallet or on another exchange, you can choose to deposit crypto into your Bybit account through a blockchain transaction. However, you should be aware of the following:

: Once you’re logged into your Bybit account, hover your cursor over the 

tab on the top right corner of the Bybit home page. Then, click on 

: Choose the coin that you would like to deposit. 

: Select the chain type for the coin you would like to deposit. You can also choose where you would like your funds to be transferred — your Spot Account, Derivatives account or Funding Account — by indicating this in the 

field. The deposit will be credited to your Funding Account by default.

: Once you’ve confirmed the details, you can proceed to scan the QR code or copy the deposit address and use it as the destination address.

: Once you’re logged into your Bybit account on the Bybit App, tap on 

located on the bottom right corner of the screen) and select 

: Select the coin that you would like to deposit.

: Select the chain type for the coin that you would like to deposit. The deposit will be credited to your Funding Account by default.

: Once you’ve confirmed the details, scan the QR code or copy the deposit address and use it as the destination address.

Funding Your Bybit Account: Buying Crypto on Bybit 

Don’t have any funds in your external crypto wallet? Fret not, because you can easily 

Buying Crypto with Credit/Debit Card Payment

: After you’ve logged into your Bybit account, hover your cursor over the 

tab on the top left corner of the Bybit home page and click on

and input your credit/debit card information. 

: After you’ve added your credit/debit card, select the fiat currency that you would like to pay with. Then, select the coin that you would like to receive.

: Input the amount that you would like to purchase and select the credit/debit card you’ve added. Then, click on 

: You’ll be asked to verify your purchase. If the details are correct, you may proceed to click on 

: The card payment will be processed and you may be prompted to key in a one-time password or confirm the transaction from your bank app.

: Once the transaction is completed, you can click on 

: Click on the drop-down menu and select any of the available third-party service providers. 

: After you’ve chosen your third-party service provider, input the amount that you would like to purchase and select the coin you would like to receive. Then, click on 

. Select the coin that you would like to receive.

: Choose your payment channel and verify your purchase. If the details are correct, you may proceed to click on 

: You will be redirected to the third-party website to continue the purchase process. 

tab on the top left corner of the Bybit home page and click on 

: Select your preferred fiat currency by clicking on the drop-down menu, and input the amount that you would like to deposit. You may then choose your preferred 

: After the transaction has been processed, you can view your fiat currency under 

tab. You can then proceed to purchase crypto with these funds.

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How to Make a Deposit in Bybit (A Complete Guide)

Would you like to close a position in order to realize a profit or a loss? There are multiple ways to close a position on Bybit: Close

Would you like to close a position in order to realize a profit or a loss? There are multiple ways to close a position on Bybit:

Head over to the Positions tab. There, you can close a partial (or an entire) position by clicking on either the 

    (b) Select a proportion of the closing quantity

    (b) Enter the closing quantity, or

Select a proportion of the closing quantity

Place a New Order in the Opposite Direction

For Inverse Perpetual and Inverse Futures Contracts (in One-Way Mode)

, you may place a new order in the opposite direction of your current position in the order zone.

In this example, a trader is holding a long position of 10,000 BTCUSD contracts. To close 50% of the position, he or she can place an order for 5,000 short positions. This will close off 5,000 existing long positions once the order has been filled.

For USDT Perpetual and Inverse Futures Contracts (in Hedge Mode)

 tab in the order zone in order to submit an order in the opposite direction.

Ensure that you are in Hedge Mode. If you are not currently in Hedge Mode, select the settings button located on the top right corner of the trading page, as shown below to set your trading preferences. Once done, proceed to the 

First, please set your trading preferences — TP/SL on Entire Position, or TP/SL on Selected Position — via the settings button on the right side of the trading page.

Your Take Profit and/or Stop Loss order has been submitted.

In order to better understand the partial TP/SL, let us assume that you are holding a long position of 10,000 BTCUSD contract quantity at $38,883.90.

You can pre-set 2,000 BTCUSD contracts at a position with TP at $40,000, and another 2,000 BTCUSD contracts at a position with SL at $36,000. When the price of BTC rises to $40,000, a partial close will successfully occur and a Take Profit order will be executed.

This feature allows you to place multiple TP or SL orders, so that when the underlying asset price surges or plunges, only a portion of your position will be closed. If a market reversal occurs, you can continue to benefit from your remaining position.  

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How to Close a Trade on Bybit

Explainers

Investing

Crypto investing involves understanding decentralization, DeFi and market capitalization.

With the rapid growth and increasing popularity of 

, more and more individuals are considering entering the world of crypto investing. But, with so many digital assets and investment strategies to choose from, where should you begin? This comprehensive guide will help you navigate the exciting world of cryptocurrency investing, from understanding the decentralized nature of crypto markets to the impact of blockchain technology on investing.

Decentralization is a key concept when it comes to cryptocurrency markets. Unlike traditional financial markets, which are typically governed by central banks and other financial institutions, cryptocurrency markets operate on a decentralized network of computers. This means there is no central authority controlling the supply of cryptocurrencies or their value. The value of these digital currencies is determined by factors such as scarcity, perception, and market sentiment.

One of the most significant developments in the world of cryptocurrency investing is Decentralized Finance (DeFi). DeFi has emerged as a powerful force in the crypto space, offering investors new opportunities and challenges. This part offers a more detailed explanation of DeFi and its role in crypto investing along with an introduction to the concept of market capitalization.

, refers to a wide range of financial services built on blockchain technology. DeFi platforms enable users to:

Some popular DeFi platforms include Uniswap, Compound, and Aave. As DeFi continues to grow and evolve, it opens up new opportunities for investors looking to diversify their portfolios and explore innovative investment strategies.

Market capitalization is a crucial metric for evaluating the size and popularity of a cryptocurrency. It represents the total value of a cryptocurrency, calculated by multiplying its current price by the total number of coins in circulation. 

 can help investors assess the relative value of different cryptocurrencies and make informed decisions about their investments.

Grasping the concept of market capitalization is crucial for trading bitcoin, Ethereum, or other cryptocurrencies, as it offers an overview of the market’s general health and growth potential.

Types of Digital Assets: From Bitcoin to Altcoins

Cryptocurrencies come in many shapes and sizes, ranging from well-established digital currencies like Bitcoin and Ethereum to emerging altcoins with varying levels of risk and potential returns. By engaging in the cryptocurrency market, users can also earn bitcoin rewards, further enhancing their investment experience as they diversify from traditional fiat currency to virtual currency.

This part will cover the wide spectrum of digital assets, including major cryptocurrencies and the expanding altcoin market.

Bitcoin, the first and most well-known cryptocurrency, was created in 2008 by an anonymous entity called 

. Its main purpose was to offer an alternative to traditional currencies and enable peer-to-peer transactions without the need for central control, making it possible to trade bitcoin with ease.

Ethereum, another major cryptocurrency, is not just a digital currency but also a decentralized platform that allows developers to build smart contracts and decentralized applications (DApps). Both Bitcoin and Ethereum are powered by blockchain technology, which ensures the security and immutability of transactions.

Emerging altcoins are newer cryptocurrencies with smaller market capitalizations that offer potentially higher returns but also carry higher risks. Some popular emerging altcoins include:

Investing in altcoins can be an exciting opportunity for investors looking for higher returns, but it’s important to remember that these investments also come with greater risks.

Intensive study and careful risk assessment are key for successful 

Crypto Investment Strategies: Long-term vs Short-term

When it comes to cryptocurrency investing, there are two main types of investment strategies: long-term and short-term. Long-term strategies involve holding onto digital assets for an extended period, while short-term strategies aim to capitalize on market fluctuations to generate quick profits.

This part will address the role of risk management and diversification in both long-term and short-term investment strategies.

Risk management is a critical aspect of cryptocurrency investing. Some risk management techniques include:

By employing these risk management techniques, investors can protect their investments from significant losses.

Grasping and managing risks are crucial for both long-term and short-term crypto investors due to market volatility in the cryptocurrency market, which can cause abrupt price swings and possible losses.

Diversification is the process of investing in a variety of cryptocurrencies to spread risk and reduce the impact of individual asset price fluctuations. By investing in a diverse range of assets, investors can minimize potential losses and increase the chances of achieving more stable returns.

Diversification is particularly important in the world of cryptocurrency investing, as the market is known for its volatility and unpredictable price movements. By spreading investments across various coins and tokens, investors can mitigate risks and potentially achieve higher returns.

Successful cryptocurrency investing requires the right trading platforms and tools. From choosing the best cryptocurrency exchange to utilizing technical and fundamental analysis tools, having access to the right resources can make all the difference in your cryptocurrency trading journey. One crucial aspect to consider is learning how to trade cryptocurrency effectively, which includes understanding the nuances of trading cryptocurrency.

This part will address the role of trading platforms and tools in successful crypto investing.

Selecting the best cryptocurrency exchange for your needs is an essential step in the crypto investing process. Factors to consider when choosing an exchange include fees, security, available assets, and user experience. One of the best exchanges we recommend is 

Opting for a reputable and secure exchange can offer investors a seamless trading experience and reduce the risk of hacks and theft.

Technical and fundamental analysis tools can help investors make informed decisions by analyzing market trends, price movements, and the underlying value of assets. Some popular technical analysis tools used by cryptocurrency traders include 

Utilizing these tools and conducting intensive studies can give investors valuable insights into the underlying market and provide market exposure, enabling them to make well-informed investment decisions.

Security Measures and Storing Your Crypto

As the world of cryptocurrency continues to grow, so does the need for robust security measures and proper storage solutions for digital assets. This part will address the role of security measures and the different options for securely storing your crypto investments.

Cryptocurrency wallets are digital or physical storage solutions for securely holding and managing your crypto assets. There are several types of wallets available, including software wallets, hardware wallets, and paper wallets. Each wallet type offers its own unique advantages and drawbacks, so it’s essential to choose the one that best suits your needs and preferences. Bybit also offers their own 

To ensure the security of your cryptocurrency investments, it’s important to follow best practices such as using strong passwords, enabling two-factor authentication, and keeping your private keys safe. Additionally, it’s crucial to be aware of potential phishing scams and other malicious activities that target cryptocurrency investors. By adhering to these best practices, you can minimize the risk of unauthorized access to your crypto assets and protect your investments from theft and loss.

Navigating Regulatory Landscape and Tax Implications

Compliant and responsible crypto investing requires a thorough understanding of the regulatory landscape and tax implications in your jurisdiction.

This part will address the role of navigating the regulatory landscape and understanding the tax implications of crypto investing.

Crypto regulations vary by country, with some jurisdictions having strict rules and others offering more lenient environments for digital asset investing. Countries such as Malta, Germany, and 

 are known for their favorable cryptocurrency regulations, while others, like China and Bangladesh, have implemented bans on crypto trading.

Being aware of your country’s regulations and ensuring your crypto investing activities comply with local laws is crucial.

Tax implications for crypto investors depend on factors like location, transaction types, and holding periods. In the United States, for example, cryptocurrency is subject to capital gains tax and income tax, depending on the nature of the transaction. It’s important for investors to maintain accurate records of their crypto transactions and report them correctly when filing taxes.

Staying informed about your crypto investments’ tax implications can ensure compliance with tax laws and help avoid possible penalties.

Blockchain Technology and its Impact on Investing

Blockchain technology has had a significant impact on the world of investing, with innovations like smart contracts and non-fungible tokens (NFTs) offering new opportunities and challenges for investors.

This part will examine the impact of blockchain technology on investing and its potential to transform traditional investment models.

As more industries adopt blockchain technology and smart contracts, investors can expect to see new investment opportunities and challenges arise.

 are unique digital assets representing ownership of digital or physical items, creating new investment opportunities in various industries, including:

NFTs have gained significant attention in recent years, with high-profile sales and celebrity endorsements driving interest in this emerging market.

As NFTs continue to gain popularity, they offer investors new ways to diversify their portfolios and capitalize on the growing market for digital assets.

The world of cryptocurrency investing is dynamic and full of potential. From understanding the decentralized nature of crypto markets to navigating regulatory landscapes and tax implications, being well-informed is key to successful investing. By leveraging the right trading platforms and tools, implementing risk management strategies, and diversifying your portfolio, you can capitalize on the exciting opportunities that cryptocurrency investing has to offer. As the world of digital assets continues to evolve, staying informed and adapting your investment strategies will be crucial for long-term success.

Cryptocurrencies can be a great investment option, particularly for those looking for short-term profits due to the high liquidity associated with them. However, they are risky assets and one needs to understand the risks involved and how to manage them to take advantage of the opportunities presented. Long-term investments may be more suited for those who understand crypto's volatility, such as through cryptocurrency self-directed IRAs. Cryptocurrencies have shown to be a solid long-term investment in recent years, though there is still significant volatility.

$100 is a great starting point for investing in crypto. You can purchase as little as you want, even just a few dollars' worth, and still participate in the Bitcoin market. This is an excellent way to get involved with digital currencies.

How do I start investing in cryptocurrency?

To start investing in cryptocurrency, select a crypto exchange, such as Bybit, establish an account, fund it with fiat money, choose the cryptocurrency you want to buy and place an order. Finally, consider storage and digital wallet options, decide how much to invest, and manage your investments.

Cryptocurrency is a high-risk investment with volatility, an unproven rate of return, potential fraud, and lack of government regulation. However, cryptocurrencies have shown great returns in the past few years and may be a good long-term investment for those who understand how to manage the risks associated with them.

What is the difference between a software wallet and a hardware wallet?

A software wallet is a digital wallet that can be installed on a computer or mobile device, while a hardware wallet is a physical device designed to securely store private keys offline, offering an enhanced layer of security.

The Ultimate Guide to Crypto Investing: How to Buy, Sell, and Trade Digital Assets

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards