How to Make Use of Multiple Accounts on Vertex + Transfers Now Supported
NOW LIVE -- The new transfer feature builds on Vertex’s recently introduced Multiple Accounts, allowing traders to create and manage multiple accounts under one wallet.
What are Vertex’s Multiple Accounts?
Traders can create and manage up to 4 accounts under one wallet. With multiple accounts, traders can benefit from having each trading account’s positions being isolated from the other accounts, empowering traders to utilize a specific account for different trading strategies or features on Vertex.
Isolated Trading
Traders can use multiple accounts to create isolated margin positions.
For example, by only having 1 perp position per account, a user’s positions are isolated from each other, mimicking the experience of isolated margin perpetuals instead of Vertex’s default unified cross-margin when only trading with a single account.
Specific Accounts for Specific Purposes
More unique to Vertex, however, is the ability to create different accounts for bespoke purposes.
How would someone take advantage of this? Let’s use Joe as an example.
Joe has 4 accounts:
- HODL Account: Joe wants to hold his wBTC, wETH, and stablecoins that he isn’t using as margin. Joe uses Vertex to hold these assets since he automatically earns interest on his deposits, similar to how he would on Aave – all thanks to Vertex’s integrated money markets.
- Main Trading Account: Joe uses his main account to trade larger perp markets.
- Secondary Trading Account: Joe wants to trade smaller markets with a separate account as well because he often trades smaller markets with higher leverage and a single position at a time. As a result, this account offers a similar experience to trading with isolated margin.
- Trading Competition Account: This account is specific to Joe’s preference to join trading competitions without impacting the risk management of his other accounts.
How does a trader like Joe manage his assets across the 4 accounts?
Every trader will have a different strategy, but an example in Joe’s case could be:
- Use the HODL account as the main account to fund his other accounts under the same wallet.
- Transfer assets from the HODL account to the trading accounts to use as margin when needed.
- Realize PnL in his other accounts and transfer it back to the HODL account.
With the launch of Account Transfers, the management of funds across accounts is easy.
Account Transfers
The most recent update to Vertex’s account management experience is the ability to directly transfer funds between multiple accounts.
Traders can simply transfer USDC from one account to another under the same wallet address in just a few clicks. This removes the requirements of depositing and withdrawing as a means of managing multiple accounts on Vertex. Instead, it offers a much more seamless approach to account management.
Account transfers are even an option when funding a newly created account.
Tutorials
Let’s cover the steps to use multiple accounts, particularly the new transfer feature.
Creating a New Account
- Click on the account drop-down found in the Account Center (when you click on your wallet) or the Portfolio navigation menu on a desktop.
- Select the [Add & Manage Accounts] option in the drop-down menu.
- Click on the [+ Add Account] button.
- Enter your account details – name and profile picture.
- Fund your account. This is REQUIRED to complete the account creation.
You now have 2 options to fund your new account:
- Deposit into the account.
- Initiate a [New] Transfer of USDC from your existing account to create the new account.
Switching Between Accounts
- Click on the account drop-down in the Account Center or Portfolio navigation.
- Select the account you wish to switch to.
[NEW] Transferring Between Accounts
- Click on the account drop-down in the Account Center or Portfolio Navigation.
- Select the [Transfer Funds] option in the drop-down menu.
- Choose the accounts you wish to transfer from and to.
- Enter the amount to transfer (only USDC is supported for now).
- You can expand the summary to see the impact the transfer has on each account.
- Submit the transfer.
It’s that simple!
One wallet. Multiple accounts. The Vertex way.
About Vertex
Vertex was founded by a team of seasoned traders and engineers from both traditional finance and DeFi markets. Recognizing the need for more flexible DeFi trading, Vertex launched on Arbitrum and now is proud to play a role in the innovation of a multi-chain DeFi ecosystem.