• Sophie M

ByBit Testnet Deposit 2022

Updated: Apr 28

We received a lot of questions regarding Bybit testnet (demo account) and deposits.

Some of you call it also paper-trading or practice account.

Questions we answered:

1. Is ByBit testnet close to LIVE account in 2022?

2. How to deposit BTC (add money)? Link needed?

3. Should I start trading with their demo?

4. How to log in Bybit testnet account?

1. Is Bybit testnet similar to their live professional account?

A quick answer is: Yes and No. Bybit created Testnet for 2 main reasons:

a) For all investors building their trade BOTS as an environment to test it with no spamming a Live Platform with 1USD trade value. (Bots are used to trade automatically, to arbitrage or to make the market by advanced traders and HFT companies.

b) Allowing new traders to credit a testnet account with virtual cryptocurrencies and get familiar with the platform interface and setting orders.

What is similar?

Testnet gives you an opportunity to see almost the same interface and features of the Bybit main (live) platform. Almost!

You will see exactly the same instruments, and logo and the interface is pretty the same. Margins, PNL, and ROE calculations are usually displayed correctly with reference to Testnet prices. On paper trading account

What is different?

Demo perpetual and future contracts live their own life but usually more or less follow current market prices. Sometimes testnet price of BTCUSD can differ even 200USD !!!

What is more, different are:

  1. Amounts of limit orders in the orderbook (liquidity)

  2. Last Price / Mark Price

  3. Recent trades

  4. Liquidation and trade execution price

  5. 24h turnover

And testnet currently allows to hedge trades! This feature has not been added to Bybit live yet (April 22).

ByBit testnet screen screenshot ByBit live account screenshot

These screenshots were made exactly at the same time.

It is common that on Bybit testnet we can see that for instance Bitcoin price is now $30,260 and on a live account, the price is $30,213. So at this moment, it differed ^ONLY^ about $47.

For this reason, is not a big deal to become a virtual BTC millionaire on Bybit testnet account:)

2. How to deposit virtual BTC (add money)?

To credit your Bybit testnet account:

1. Log into your live account. (you can create it in 15 seconds here)

btw using our link you can claim a bonus up to 4150$ to spend on fees and potencial losses

2. Log into your testnet account (you can create it in 15 seconds here)

3. On the live account click and say hallo to support via chat

4. Prepare your UID (you will find it in the account details) for customer support

5. Wait 15 seconds to connect with customer support and ask for 1 BTC and 10,000USDT

It is obvious you can not withdraw your demo BTC ;)

3. Should I begin trading with their Testnet ?

From the beginner's perspective market looks slow, with no risk involved and easy money to make. This is so confusing to me. More important that there is a working mechanism of liquidation (stop-outs) in real-time.

Of course, you can learn a bit there, but you can get a lot of bad habits and keep your mind in a different reality. This is why Ministry of Margin Trading recommends opening Bybit testnet just for a while.

Reasonable is to open a straight away LIVE account with for instance 0,001BTC deposit to learn for this amount. You will see how the live platform really counts and works.

4. How to log in to Bybit testnet account?

Bybit live account and testnet are separated and to log in you need two different log in details on two different web addresses:

https://testnet.bybit.com/en-US/ (testnet)

https://www.bybit.com/ (live)

If you want to support our mission to make Bybit easy to understand for everybody feel free to use our referral code: 19251 to get Bybit sign up and deposit a bonus even up to $4150 !!

Bybit MEGA calculator built by us is FREE:

Author: Ministry Of Margin Trading Team

We wish you to be 51% right at the markets! At least 51%! Good luck bro!