How to Upgrade Your Standard Account to a Unified Trading Account

    bybit2024-01-02 11:08:58

     

     

     

     

    Important Notes to Consider Before and After the Upgrade

    Before you proceed with upgrading to a Unified Trading Account (UTA), here’s what you need to know: 

     

    1. Upon upgrading to UTA, your Spot Account will be merged into the Unified Trading Account. To deposit or withdraw funds, please head to your Funding Account. Trading all Spot and Derivatives products (excluding Inverse Contracts) can be conducted using assets in the Unified Trading Account.

     

    2. All features available in the Standard Account, including Isolated Margin Mode and Cross Margin Mode, will be supported in the Unified Trading Account. To learn more about the Unified Trading Account, please visit Introduction to Bybit Unified Trading Account

     

    3. In UTA, bonuses for Perpetual and Futures contracts trading will be used before coupons. You will not be able to claim your rewards if you have a negative wallet balance. 

     

    4. Upgrading to a UTA is irreversible, and you won't be able to revert your account settings after completion. To preview the Unified Trading Account experience, you can explore the Demo Trading option beforehand.

     

    5. You can upgrade to UTA with an open position on your Standard Account as long as the account is at an acceptable risk level after the upgrade, otherwise, the upgrade will be restricted. Please refer to the requirements below for the definition of acceptable risk level. 

     

    6. Any position in Copy Trading or active bots in the Trading Bot will not affect the upgrade. 

     

    7. There is no asset requirement to upgrade to UTA.

     

    8. The account upgrade is expected to take one (1) minute. During this period, trading, deposits, withdrawals, transfers, and conversions are temporarily restricted.

     

     

     

     

    Requirements for Upgrading to a Unified Trading Account

    To upgrade your Standard Account to Unified Trading Account, you must fulfill the below requirements:

    • The account risk level must be in the acceptable range after the upgrade. For Isolated Margin mode, [(Mark Price - Liquidation Price)/Liquidation] must be ≤ 5%. For Cross Margin mode, the Initial Margin Rate after the upgrade must be < 80%. 

    • If you are holding a position in two-way position mode (Hedge Mode), the leverage and risk limit settings for your long and short open position must be the same. 

    • You do not have any active orders, liabilities, or negative balances on your Standard Account.

    • Your account is not under any form of restriction, this includes the 24-hour withdrawal ban imposed by the system after some security settings changes or Identity Transfer. 

    • You are not participating in any trading events or competitions on Bybit.

    • You have no funds in the process of off-chain depositing, exchanging or transferring in your Spot and Derivatives Account.

    • There is no liquidation in progress on your Standard Account.

    • No Leveraged Token orders are being executed for subscription and redemption.

    • You do not have orders for Crypto Loans.

     

     

     

    After upgrading to a Unified Trading Account, your account will have the following changes. 

     

    All assets in your Spot Account, USDT, and USDC assets in your Derivatives and USDC Derivatives Account will automatically be transferred into the Unified Trading Account. To learn more about the difference between a Standard Account and a Unified Trading Account, please visit here.

     

    Upgraded Unified Trading Account

    Before

    After

    Spot Trading

    Spot Account

    Unified Trading Account

    Spot Margin Trading

    Spot Account

    Leveraged Tokens

    Spot Account

    USDT Perpetual

    Derivatives Account

    USDC Perpetual

    Not Supported in Standard Account

    USDC Options

    Inverse Perpetual

    Derivatives Account

    Inverse Derivatives Account

    Inverse Futures

    Derivatives Account

    Inverse Derivatives Account

    Deposit and Withdrawal

    Funding Account or Spot Account

    Funding Account

     

    Note:

    In the UTA, traders have the option to utilize Bybit Subaccounts to individually allocate assets for Spot or Derivatives trading under Cross Margin mode. The funds between the Main Account and Subaccounts are isolated, allowing for independent risk control. For more information, please visit here.

     

     

     

     

     

    How to Upgrade to Unified Trading Account

    Here’s a guide to help you upgrade your Standard Account to UTA on Bybit. 

     

     

     

     

     

     

    Via App

    Step 1: Head to the Assets page, and tap on Upgrade to Unified Trading Account on top of the page.

     

    Upgrade UTA 01.png

     

     

     

     

     

    Step 2: Read through the introduction and details shown on the pop-up window to have a better understanding of Unified Trading. Then, tap on Upgrade.

     

    Upgrade UTA 01.png

     

     

    Read more

    Differences Between the Margin Modes Under the Unified Trading Account

    Trading Rules: Liquidation Process (Unified Trading Account)

    Comparison Between a Unified Trading Account and Standard Account

     

     

     

     

     

    Step 3: Acknowledge the Trading Rules and Terms of Service for the Unified Trading Account. Tap on Upgrade.

     

    Upgrade UTA 03.png

     

     

     

     

     

    Step 4: Your account is being upgraded. It takes about one (1) minute to complete the upgrade. During this period, trading, deposits, withdrawals, transfers, and conversions are temporarily restricted.

     

    Upgrade UTA 04.png

     

     

    You will receive a confirmation email after the upgrade is completed. Read the Assets and Collateral Description, Risk Control Rules, and Trading Modes carefully before trading with a Unified Trading Account. 

     

    Upgrade UTA 05.png

     

     

    Read More

    Unified Trading Account Asset Page

    FAQ — Unified Trading Account (UTA)

     

     

     

     

     

     

     

     

     

     

    Via Website

    Step 1: Head to the Spot, Derivatives Trading page or Assets page, and click on Upgrade.

     

    Upgrade UTA 06.png

     

     

     

     

     

    Step 2: Read through the introduction and details shown on the pop-up window to have a better understanding of Unified Trading. Then, click on Next.

     

    Upgrade UTA 07.png

     

     

    Read more

    Introduction to Bybit Unified Trading Account

    Differences Between the Margin Modes Under the Unified Trading Account

    Trading Rules: Liquidation Process (Unified Trading Account)

    Comparison Between a Unified Trading Account and Standard Account

     

     

     

     

     

    Step 3: Acknowledge the Trading Rules and Terms of Service for the Unified Trading Account. Click on Confirm Upgrade.

     

    Upgrade UTA 08.png

     

     

     

     

     

    Step 4: Your account is being upgraded. It takes about one (1) minute to complete the upgrade. During this period, trading, deposits, withdrawals, transfers, and conversions are temporarily restricted.

     

    Upgrade UTA 09.png

     

     

    You will receive a confirmation email after the upgrade is completed. Read the Assets and Collateral Description, Risk Control Rules, and Trading Modes carefully before trading with a Unified Trading Account. 

     

    Upgrade UTA 10.png

     

     

    Read More

    Unified Trading Account Asset Page

    FAQ — Unified Trading Account (UTA)

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