Topics
How to Trade Fiat Trading Pairs on Bybit TR
2024-11-18 08:26:43
2024-11-18 08:26:43Here's a step-by-step guide to help make your first Fiat Pair trade easier. It will guide you through the whole process: deposit fiat currency, transfer fiat currency, place and view orders, and withdraw fiat currency.
Deposit Fiat Currency
Bybit TR provides a variety of fiat deposits to make it easier for you to trade instantly via Fiat Balance. The procedures for depositing funds in different fiat currencies are slightly different. For more details, please visit here.
Transfer Fiat Currency
Your fiat currency deposit will be credited to your Funding Account. Before placing an order, please transfer the fiat currency from your Funding Account to your Spot Account.
Step 1: On the Funding Account Assets page, click on Transfer in the column of the fiat currency you want to transfer.
Step 2: Make sure the selected accounts and fiat currency are correct, then enter the amount to be transferred. Next, click on Confirm.
Place and View Your Order
Please Click on Trade → Spot Trading in the navigation bar, and then select the respective Fiat to start your transaction.
Take USDT/TRY as an example:
If the current price of USDT is 34.48 TRY. Traders can buy 100 USDT with 3,448 TRY or sell 100 USDT into 3,448 TRY.
Trader A buys 100 USDT using a Market Order with TRY.
Trader B sells 100 USDT using a Limit Order to TRY.
Taker's Fee for Trader A = 100 USDT x 0.1% = 0.1 USDT
Maker's Fee for Trader B = 3,448 TRY x 0.1% = 3.448 TRY
After the order is filled:
Trader A buys 100 USDT with a Market Order, so he will pay a Taker's Fee of 0.1 USDT. Therefore, Trader A will receive 99.9 USDT.
Trader B sells 100 USDT with a Limit Order, so he will pay a Maker's Fee of 3.448 TRY. Therefore, Trader B will receive 3,444.52 TRY.
Note:
— To learn more about how to place Spot orders, please refer to How to Trade on Spot.
— Fiat trading will incur the same fees as spot trading. Please consult this article for more information : Spot Trading: Fees explained.
To view your order details or trade history, please check under the Current Orders, Past Orders or Trade History columns in the position zone.
Withdraw Fiat Currency
To withdraw your fiat currency, please go to Funding Account → Withdraw. The procedures for withdrawing funds in different fiat currencies are slightly different. For more details, please visit here.
Please note that the fiat trading pairs you trade may not be supported in Fiat Withdrawal yet. You can check the supported coin on the Fiat Withdrawal page.
Was it helpful?
Yes
No
YesNo