Individual KYC FAQ

A Guide to KYC Process on Bybit

What is KYC?

KYC means “know your customer.” KYC guidelines for financial services require that professionals make an effort to verify the identity, suitability and risks involved, in order to minimize the risk to the respective account.

Why is KYC required?

KYC is necessary to improve security compliance for all traders. 

Do I need to register for KYC？

If you want to withdraw more than 2 BTC a day, you’ll need to complete your KYC verification.

Please refer to the following withdrawal limits for each KYC level:

**All token withdrawal limits shall follow BTC index price equivalent value**

Note:

You may receive a KYC verification request from Bybit.

How to submit a request for Individual Lv. 1

You may proceed with the following steps:

1. Click “Account & Security” in the upper right-hand corner of the page

2. Click "Verify Now" in the "Identity Verification" column under "Account Information"

3. Click ”Verify Now” under Lv.1 Basic Verification

4. Information required:

1. Document issued by country of origin (passport/ID)

2. Facial recognition screening

Note:

• Please make sure the document photo clearly shows the full name and date of birth.

• If you are unable to upload photos successfully, please make sure that your ID photo and other information are clear, and that your ID hasn't been modified in any way.

• Any type of file format can be uploaded.

How to submit a request for Individual Lv. 2

After verification for KYC 1 has been approved, you may proceed with the following steps:

1. Click “Account & Security” in the upper right-hand corner of the page

2. Click "Verify Now" in the "Identity Verification" column under "Account Information"

3. Click ”Verify Now” under Lv.2 Residency Verification

4. Document required:

1. Proof of residential address

Note:

The proof of address documents accepted by Bybit include:

1. Utility bill

2. Bank statement

3. Residential proof issued by government

  Bybit does not accept the following types of documents as proof of address:

1. ID Card/driver’s license/passport issued by government

2. Mobile phone statement

3. Insurance document

4. Bank transaction slip

5. Bank or company referral letter

6. Handwritten invoice/receipt

Once the documents are verified by Bybit, you will receive an email of approval, and can then withdraw up to 100 BTC a day.

How will my personal information be used?

The information you submit is used to verify your identity. We will keep your personal information private.

How long does the KYC verification process take?

The KYC verification process takes approximately 15 minutes.

Note:

Due to the complexity of information verification, KYC verification may take up to 48 hours. 

What should I do if the KYC verification process fails for more than 48 hours?

If you encounter any problems with KYC verification, kindly contact us via LiveChat support, or drop an email to support@bybit.com. 

Why Is KYC (Know Your Customer) Important?

1. Bybit would like provide a secure and compliant trading environment to all the users and comply with regulatory rules and laws
2. It can be prevent illegal activities and to identify suspicious behaviour at the earliest
3. Users can also enjoy the P2P trading and higher limit for daily withdrawal which up to 50 BTC for KYC Level 1 and 100 BTC for KYC Level 2
4. To gain access to exclusive promotions and events such as Launchpads
5. In case that where users loss their credentials to access the platform, a KYC verified account will help you to recover the account with simpler process
   
   

For Business KYC verification information, please refer to Business KYC FAQ.