Q) I have BTC inside my Bybit account but would like to trade other contracts like ETHUSD or XRPUSD? What can I do?
Traders can use the Assets Exchange function to convert their BTC to the respective coin type in order to continue trading the desired trading pairs.
Q) Are there any fees for using the Assets Exchange?
Yes, there is a flat rate of 0.1% chargeable for performing the exchange.
Q) Are there any Assets Exchange limits on the Bybit platform?
Yes, there are. Please refer to the table below for more details. This limit will be reset daily at 0000 UTC
24 hours account
24 hours platform
Q) Is it safe to deposit and store my cryptocurrencies with Bybit?
Yes, it is safe to do so. In order to maintain a high level of asset security, Bybit uses an industry-leading and multi-signature cold wallet to store 100% of our traders' deposited assets. At the individual account level, all withdrawal requests will undergo a stringent procedure that carries out confirmation for withdrawals; and all requests will be manually reviewed by our team at fixed time intervals (0800, 1600 and 2400 UTC).
In addition, 100% of our traders' deposit assets will be segregated from our Bybit's operating budget for increased financial accountability.
For more info, please refer to our Terms of Service
Q) How to buy Bitcoin ( BTC ), Ethereum ( ETH ), Ripple ( XRP ), EOS, or USDT?
Method 1: Use Bybit Fiat Gateway to convert fiat to cryptocurrency. This service is wholly provided by the respective third-party service providers. For more info, please click here
Method 2: Seach for a reputable online spot exchange and open an account to purchase cryptocurrencies. Please note that exchanges require real-name certification (KYC - Know Your Client).
Method 3: Over-the-counter trading, you can find someone who is willing to sell Bitcoin (P2P, Peer to Peer transaction), pay the money directly, and then he sends you Bitcoin to your personal wallet address. This eliminates the exchange account opening process.
Q) Why did my deposit not arrive inside my Bybit account?
The major reason for delays for each respective coins are as follows:
BTC: Unconfirmed transaction on the blockchain (1 confirmation needed)
ETH: Unconfirmed transaction on the blockchain (30 confirmation needed) OR Smart Contract transaction (Bybit does not auto process ETH Smart Contract deposits)
XRP/EOS: Invalid or missing tag/memo when the deposit is made
USDT: Unconfirmed transaction on the blockchain (1 or 30 confirmation depending on Omni or ERC20 transfer)
If you need further assistance, go to the wallet that was used to make the deposit and attempt to obtain the transaction hash (TXID). Contact our live chat agent or email to email@example.com and provide us with the coin type, coin amount and TXID.
Q) Are there any minimum deposit amount into Bybit?
No, there are no minimum deposit amount and traders can deposit any amount they like.
Q) Does Bybit support BEP20 deposits?
At present, Bybit does not support any BEP20 tokens. Any BEP20 deposits to any Bybit wallet addresses will not be credited and will result in the permanent loss of your deposit. For more info, please click here
Q) I unintentionally deposited a coin that is not listed inside My Assets page, what should I do?
The following coins cannot be recovered under any circumstances.
- BEP20 coins
- Any non-EOS coin deposits based on the EOS blockchain
If you unintentionally deposited an unsupported coin type not listed above, kindly go to the wallet that was used to make the deposit and attempt to obtain the transaction hash (TXID). Contact our live chat agent or email to firstname.lastname@example.org and provide us with the coin type, coin amount and TXID.
Q) I unintentionally deposited real coins into my testnet account, what should I do?
Bybit only supports the recovery of certain real coin type deposited into a testnet wallet address. This includes ETH, XRP and selected ERC20 coin.
If you unintentionally deposited real coin into your testnet wallet address, kindly go to the wallet that was used to make the deposit and attempt to obtain the transaction hash (TXID). Contact our live chat agent or email to email@example.com and provide us with the coin type, coin amount and TXID.
Q) I unintentionally deposited Omni USDT into my BTC wallet address, what should I do?
Even though they are on the same BTC blockchain, Omni USDT and BTC wallet addresses on Bybit are unique and different.
If you unintentionally deposited Omni USDT into your BTC wallet address, kindly go to the wallet that was used to make the deposit and attempt to obtain the transaction hash (TXID). Contact our live chat agent or email to firstname.lastname@example.org and provide us with the coin type, coin amount and TXID.
Q) After depositing an unsupported coin type, what is the asset recovery process?
1) Contact our live chat agent or email to email@example.com and provide us with the coin type, coin amount and TXID.
2) The Bybit team will attempt an asset recovery on a "best effort basis"
3) If the asset recovery is possible, we will either offer to return the same coin type to the source wallet address OR credit the equivalent in USDT into your Bybit account. Both scenarios will incur a one-time handling fee of USDT 20
4) The entire process may take 5 to 10 business days to complete and all communications will be sent via the account's registered email address
Q) What is the minimum deposit amount that can be recovered and what are the fees involved?
There is a one-time handling fee of USDT 20 for every successful asset recovery based on the corresponding transaction hash (TXID).
Therefore, If your wrong deposit amount is less than USDT 20 in value, Bybit will not proceed to perform an asset recovery.
Q) Can I deposit TrueUSD (TUSD) or USD Coin (USDC) into my Bybit Tether (USDT) wallet address since they are all stable coins pegged to the USD value?
No, TUSD and USDC are not the same as USDT. Bybit only supports the deposit of USDT. If you unintentionally deposited TUSD or USDC, kindly go to the wallet that was used to make the TUSD or USDC deposit and attempt to obtain the transaction hash (TXID). Contact our live chat agent or email to firstname.lastname@example.org and provide us with the coin type, coin amount and TXID.
Q) Why did I not receive my withdrawal after submitting a withdrawal request?
For account asset security purposes, all withdrawal requests are subjected to a stringent withdrawal request processing happening at 3 designated timings (0000, 0800 and 1600 UTC)
After the successful processing of your withdrawal request, traders can expect to receive their coins within 2 hours ( Subjected to the blockchain's mining capabilities and transaction workloads).
Q) Are there any withdrawal limits on the Bybit platform?
Yes, there are. Please refer to the table below for more details. This limit will be reset daily at 0000 UTC
|Individual account limit||Total platform limit|
|BTC||500 BTC||3,000 BTC|
|ETH||10,000 ETH||40,000 ETH|
|EOS||1,000,000 EOS||10,000,000 EOS|
|XRP||2,000,000 XRP||100,000,000 XRP|
|USDT||1,000,000 USDT||8,000,000 USDT|
For any special request, please reach out to our live chat support
Q) Is there a minimum amount for withdrawal?
Yes, there is. Please refer to the table below for more details. Please note that Bybit pays a standard miner fee. Hence, it is fixed for any withdrawal amount.
|USDT||10 USDT||2 USDT|
Q) When does Bybit process withdrawal requests?
Bybit processes and review all withdrawal requests at 3 fixed time intervals at 0800, 1600 and 0000 UTC.
Q) Why does Bybit not support immediate withdrawals? Instead, why must all withdrawals go through a manual reviewing process?
100% of our clients' assets are stored in Bybit's multi-signature cold wallet. A multi-signature cold wallet is an offline cold wallet and requires at least 2 out of 3 authorizations before the releasing of any funds, ensuring maximum asset security. As such, all our clients are required to submit a manual withdrawal request and subject it to a stringent withdrawal request processing happening at 3 designated timings ( 0000, 0800 and 1600 UTC )
Q) Why are Bybit withdrawal fees relatively higher compared to other platforms?
Bybit charged a fixed fee for all withdrawals and dynamically adjust the batch transfer miner fee to a higher level to ensure the faster confirmation speeds of withdrawals on the blockchain.
Q) Can traders fix their own withdrawal fees on Bybit?
At the moment, no. However, Bybit is considering to open up this option for traders to determine their own withdrawal fees in the future.
Q) What do the various statuses inside Withdrawal History symbolizes?
a) Pending Email Confirmation = Traders need to login to the inbox of their registered email address to confirm the withdrawal confirmation email.
b) Pending Review = Traders have successfully submitted their withdrawal request and are pending a withdrawal review at 0000, 0800 and 1600 UTC.
c) Pending Transfer = The withdrawal request has been successfully reviewed and pending submission onto the blockchain.
d) Successfully Transferred = The withdrawal of assets is successful and complete.
e) Confirmation Email Expired = The withdrawal confirmation email sent to your inbox has expired. If traders would like to continue to withdraw their assets, please resubmit a new withdrawal request.
f) Rejected = The withdrawal request has been rejected due to varying reasons.
g) Canceled = The withdrawal request has been canceled by the user.
Q) Does Bybit support withdrawals to a segwit BTC wallet address?
No, Bybit does not support withdrawals to segwit BTC wallet addresses starting with "bc1", also known as bech32 addresses. Instead, Bybit only supports BTC withdrawals to wallet addresses starting with "1" or "3".
Q) Does Bybit support withdrawals to a Smart Contract ETH wallet address?
No, Bybit does not support ETH withdrawals via Smart Contracts method. Instead, Bybit only supports ETH withdrawals via Direct Transfer method.
Q) I tried to transfer ETH from my spot wallet to Bybit wallet address and it states that Bybit ETH wallet address is not EIP55 ready. What can I do?
Convert your account's Bybit ETH wallet address to become EIP55 ready. To do so, copy your ETH wallet address into Etherscan, perform a search and the corresponding EIP55-ready wallet address will appear on the top left corner (red box)
Q) Does Bybit support XRP/EOS withdrawals to a wallet address without a tag/memo?
Yes, Bybit does support XRP or EOS withdrawals to a wallet address without tag/memo. However, please be aware that it is the traders' sole responsibility to check with their destination wallet address provider on the need to indicate a tag/memo when transferring XRP or EOS out of Bybit.
Bybit will not be responsible for any missing XRP or EOS due to withdrawal without indicating any tag/memo.
Q) Does Bybit support USDT withdrawal via Omni blockchain?
No, Bybit does not support USDT withdrawals via Omni. Instead, Bybit only supports ERC20 USDT withdrawals via ETH blockchain.
Q) Why is my account restricted from performing a withdrawal?
For account and asset security purposes, please be informed that the following actions will lead to withdrawal restrictions for 24 hours.
1. Change or reset of account password
2. Removing of Google Authenticator 2FA by the user
3. Change of registered mobile number
Q) How can I obtain my transaction hash (TXID) after the withdrawal has been completed?
Other asset matters
Q) Inside the Assets page, even though I did not perform any trades, why was the USD value of my BTC wallet balance reduced?
Firstly, Bybit only accepts the depositing of cryptocurrencies and these assets will remain unchanged unless there are trading activities performed using the same account. For example, if you deposit 0.1 BTC, it will remain as 0.1 BTC unless there are trading activities.
Secondly, traders have to understand that the USD value of their cryptocurrencies shown inside the Assets page only serves to provide a quick fiat value estimate and will dynamically change based on the market price of BTC. Using the screenshot above as an example, Trader A has 0.1 BTC
When 1 BTC = USD 11,239.70, the estimated USD value = USD 11,239.70 x 0.1 BTC = USD 1,123.97
When the price of BTC falls to 1 BTC = USD 8000, the estimated USD value = USD 8000 x 0.1 BTC = USD 800