How to Withdraw and make a Deposit on Bybit

Apr 10, 2024

Effectively managing your digital assets on Bybit involves understanding the procedures for deposits and withdrawals. Whether you're looking to fund your account or access your profits, navigating the deposit and withdrawal processes ensures a seamless experience on this leading cryptocurrency trading platform. This guide outlines the steps to deposit funds into your account and withdraw assets from Bybit.

How to Withdraw from Bybit

How to Sell Crypto on Bybit with P2P Trading

If you’re looking to sell cryptocurrency on Bybit through P2P trading, we’ve put together a detailed step-by-step guide to help you get started as a seller.

On App
Step 1: Start by navigating to the home page and click on "P2P Trading".

How to Withdraw and make a Deposit on Bybit

Step 2: On the P2P Sell page, you can filter your preferred buyer advertisers by specifying your desired Amount, Fiat Currencies, or Payment Methods based on your transaction requirements. If you haven’t added your preferred payment method yet, make sure to do so.

Step 3: Choose your preferred advertisement and click on "Sell."

Step 4: Enter the amount of USDT you want to sell or the amount of fiat currency you wish to receive. Click "Sell" to proceed.

Note:

P2P transactions will be processed exclusively via the Funding account, so ensure your funds are in your Funding account before initiating a transaction.
Verify that your account name matches your registered name on Bybit to prevent order cancellations or refund appeals by the buyer.

Step 5: During the pending process, the buyer will have 15 minutes to complete the payment. You can easily communicate with the buyer in real time by clicking on the Live Chat box in the upper right corner.

Step 6:
a. Upon successfully receiving the payment from the buyer, click on "Release Now" to release your cryptocurrencies. You will be prompted to enter your GA verification code or Fund Password for verification.

Make sure you have received the funds from the buyer before checking the confirmation box and releasing your cryptocurrencies.

b. Order transaction has failed:

If the buyer fails to complete the payment within 15 minutes, the order will be automatically canceled, and the cryptocurrencies reserved on the P2P platform will return to your Funding Account.
If you’re notified that the payment is completed but haven’t received it after 10 minutes, you can click on "Submit Appeal" and our customer support team will assist you.

If you encounter any issues with your order, please send your inquiry via this form and specify your concerns. To help us assist you more effectively, provide your UID, P2P order number, and any relevant screenshots.

On Desktop

Step 1: Click on "Buy Crypto" and then "P2P Trading" on the top left corner of the navigation bar to access the P2P trading page.

Step 2: On the P2P Sell page, you can filter advertisers by specifying your desired criteria for Amount, Fiat Currencies, or Payment Methods, depending on your transaction needs.

Notes:

Under the Advertiser column, the displayed order quantity and completion rate in the last 30 days are indicated.
Under the Limits column, advertisers have listed the minimum and maximum transaction limits in fiat terms for each advertisement.
The Payment Method column shows all supported payment methods for the selected advertisement.

Step 3: Choose your preferred advertisement and click on "Sell USDT."

Step 4:
a. Enter the amount of USDT you want to sell or the amount of fiat currency you wish to receive and click "Sell" to proceed.

Note:

P2P transactions will be processed only via the Funding account, so ensure your funds are in your Funding account before initiating a transaction.
Verify that your account name matches your registered name on Bybit to prevent order cancellations or refund appeals by the buyer.

Step 5: During the pending process, the buyer has 15 minutes to complete the payment.

A Live Chat box is available, allowing real-time communication with buyers.

Step 6:
a. Once you’ve received the payment from the buyer, click on "Release Now" to release your cryptocurrencies. You will be prompted to enter your GA verification code for verification.

Ensure you have received the funds from the buyer before checking the confirmation box and releasing your cryptocurrencies.

b. Order transaction has failed:

If the buyer does not complete the payment within 15 minutes, the order will be automatically canceled, and the cryptocurrencies reserved on the P2P platform will return to your Funding Account.
If you’re notified that the payment is completed but haven’t received it after 10 minutes, you can click "Submit Appeal" and our customer support team will assist you.

Follow these steps, and you’ll be well on your way to successfully selling crypto through P2P trading on Bybit.

How to Sell Crypto With One-Click Buy on Bybit

One-Click Buy allows users to sell cryptocurrencies through any of our supported payment methods — P2P Trading, Credit Card Payment, Third Party Payment or Fiat Balance.

Please note that the payment method displayed on the order page will vary depending on the coin and fiat currency you’ve selected.

Here’s a step-by-step guide to selling cryptocurrencies with One-Click Buy on Bybit. Let’s sell USDT for RUB as an example.

Step 1: Click on "Buy Crypto" in the upper navigation bar, then choose "One-Click Buy".

Note: Please transfer your funds to the Funding Account before selling.

Step 2: Click on Sell.

Step 3: Please follow the steps below to place your order:

Select a coin to sell: USDT
Select the fiat currency to receive: RUB
Enter the amount of cryptocurrencies you want to sell or the amount of fiat you wish to receive.

Tip: Bybit will recommend a payment method to you based on the current best exchange rate. It should be noted that the exchange rates are provided by our service partners, and Bybit is not directly involved.
You can either use the recommended payment method or select your preferred payment method.

Step 4: Please make sure that all of your information is correct before clicking on Sell USDT to proceed.

How to Withdraw Fiat Balance on Bybit

Here’s a step-by-step guide to withdrawing EUR on Bybit.

Step 1: Click on Fiat Withdrawal in the upper right corner of your Fiat Deposit page to enter the Fiat Withdrawal page.

Please make sure you complete the following three requirements for further withdrawal:

Email Authentication
Google Two-Factor Authentication
Individual KYC Verification

Step 2: To initiate the withdrawal of your fiat currency, kindly follow these instructions:

Choose your desired fiat currency: EUR.
Input the withdrawal amount.
Select your preferred payment method: SEPA Transfer.
Proceed by clicking the "Continue" button.

Step 3: Select the bank account where you have deposited funds. You can deposit only to the accounts used before for withdrawals.

Note: When you submit your withdrawal request, the requested amount will be temporarily placed on hold. In the event of a withdrawal request failure, the designated amount will be promptly returned to your Funding Account.

Step 4: Enter your email and Google Two-Factor verification code, then click on Confirm. Please ensure you have clicked on Send Verification Code to receive an email verification code.

Step 5: Your withdrawal request is being processed. You will receive a push notification and email as soon as your withdrawal is complete.

Notes:

Please be aware that the completion of a withdrawal does not indicate the exact time you will receive the funds. The actual time for funds to arrive depends on your bank’s processing.
Withdrawals to your bank account via SEPA Transfer typically take 1-3 working days.
SATOS-verified users should note that they are unable to withdraw EUR for the first 24 hours following their initial fiat deposit.
In the event of any issues with your fiat withdrawal, we encourage you to contact us through Live Chat or by submitting a request using the provided link. You will receive an automated email containing your unique case number, and our customer support team will get in touch with you within 1-3 working days.

To view your withdrawal history, please click on Orders in the upper right corner for more details.

Alternatively, you can view it from Funding Account → History → Fiat Withdrawal.

How to Withdraw Crypto from Bybit

Step 1: Log into Your Bybit Account

To start the withdrawal process, you need to log into your Bybit account. Ensure that you use a secure and up-to-date browser and enable two-factor authentication (2FA) for an added layer of security.

Step 2: Access the Withdrawal Page

Whether you’re conducting an on-chain or internal transfer on the web, navigate to the "Assets" tab located in the top right-hand corner of the homepage. From the drop-down list, select "Spot". Next, in the column corresponding to the currency you wish to withdraw, click on the "Withdraw" option.

Next, proceed according to the following steps:

1. Click on Wallet Address and select the address of your receiving wallet.

Note: If you haven’t linked your withdrawal wallet address, please click on Wallet Address to create your receiving wallet address.

2. Select your Chain Type.

3. Enter the amount of cryptocurrency you wish to withdraw, or click on the All button to make a complete withdrawal.

4. Click on Submit.

Note: — For the withdrawal of XRP/EOS/XYM/XLM/XEM, please remember to enter your Withdrawal Memo for the transfer. Failure to do so will cause unnecessary delays in processing your withdrawal.

For traders who use the app, enter your withdrawal address and select your chain type. Then, enter an amount or click on the All button to withdraw all funds before clicking on Next. After selecting the address of the receiving wallet, click on Submit.

Step 3: Review and Confirm

Carefully review all the information you’ve entered, including the withdrawal address and the amount. Make sure everything is accurate and double-checked. Once you are confident that all details are correct, proceed to confirm the withdrawal.

After you click on the Submit button, you’ll be directed to the withdrawal verification page. The following two verification steps are required:

1. Email verification code: an email containing your email verification code will be sent to the registered email address of the account. Please enter the verification code you’ve received.
2. Google Authenticator code: Please enter the six (6)-digit Google Authenticator 2FA security code you’ve obtained.

Bybit will process your withdrawal request. The time it takes for your withdrawal to be confirmed and processed can vary depending on network congestion and security checks. You can track the status of your withdrawal on the platform.

How long does it take to withdraw my funds?

Bybit offers the convenience of immediate withdrawals. Please note that these instant withdrawals typically take between 30 minutes and one hour to process, with the exact processing time dependent on the blockchain and its current network traffic. Keep in mind that during periods of network congestion, withdrawals may experience delays beyond the usual processing time.

Is there a fee for withdrawal?

Indeed, withdrawal fees are applied to all transactions. It’s essential to be aware of the specific withdrawal fees associated with any withdrawal from Bybit, regardless of the amount. Traders can easily access this information by referring to the minimum withdrawal and fees displayed in the withdrawal pop-up window, which will vary based on the chosen blockchain for fund withdrawal.

How to make a Deposit on Bybit

Bybit Deposit Payment Methods

There are 4 ways to deposit or buy crypto on Bybit:

Fiat Currency Deposit

This is a convenient way to deposit crypto on Bybit using fiat currency (such as USD, EUR, GBP, etc.). You can use a third-party service provider that integrates with Bybit to buy crypto with your credit card, debit card, or bank transfer. To do this, you need to select the fiat gateway option on Bybit and choose the service provider, the fiat currency, and the cryptocurrency you want to buy. Then, you will be redirected to the service provider’s website, where you can complete the payment process. The crypto will be sent directly to your Bybit wallet after the payment is confirmed.

P2P Trading

This is an alternative way to deposit funds on Bybit using fiat currency. You can use a peer-to-peer (P2P) platform that connects you with other users who want to buy or sell crypto. To do this, you need to select the P2P trading option on Bybit and choose the fiat currency and the cryptocurrency you want to trade. Then, you will see a list of available offers from other users, with their prices and payment methods. You can choose an offer that suits you and initiate a trade request. You will then have to follow the instructions of the platform and the seller to complete the payment and receive the crypto in your Bybit wallet.

Crypto Transfers

This is the simplest and most common way to deposit Crypto on Bybit. You can transfer any of the supported cryptocurrencies (BTC, ETH, USDT, XRP, ...) from your external wallet to your Bybit wallet. To do this, you need to generate a deposit address on Bybit and copy it to your external wallet. Then, you can send the desired amount of crypto to that address. The deposit will be credited to your account after a certain number of network confirmations, depending on the cryptocurrency you use.

Crypto Purchase

You can also buy crypto directly on Bybit using other crypto as payment. This way, you can exchange one crypto for another without leaving the platform or paying any fees for transferring crypto. To buy crypto, you need to go to the "Trade" page and select the trading pair you want to trade. For example, if you want to buy Bitcoin using USDT, you can select the BTC/USDT pair. Then, you can enter the amount and price of Bitcoin you want to buy and click on the "Buy BTC" button. You will see the order details and confirm your order. Once your order is filled, you will receive the Bitcoin in your Bybit account.

Buy Crypto with Your Credit/Debit Card on Bybit

Discover a comprehensive, step-by-step guide on purchasing cryptocurrency using fiat currencies through Debit/Credit Cards on Bybit. Please note that before commencing your fiat transaction, it’s essential to complete your Advanced KYC verification. At present, Bybit supports payments through Visa and Mastercard.

On Desktop

Step 1: Click Buy Crypto on the top left corner of the navigation bar and select “One-Click Buy”.

Step 2: If you’re using a credit/debit card payment for the first time, please add your credit/debit card information first.

Note:

You may be required to fill in the billing address. Please ensure that the billing address entered matches your credit/debit card’s registered address.
Your bank account name must be consistent with your registered name on Bybit.

If you’ve already entered your credit/debit card details, follow these steps to complete your order:

(Note: We’ll use EUR/USDT as an example. Please be aware that the exchange rate displayed on this page is an approximate value. For the precise exchange rate, refer to the confirmation page.)

Choose the fiat currency you wish to use for your payment.
Select the cryptocurrency you’d like to deposit into your Funding Account.
Input the purchase amount. You can specify the transaction amount either in terms of your desired fiat currency or the cryptocurrency amount, depending on your preference.
Pick the credit/debit card you’ve previously added.
Click on "Buy with."

Important Notes:

The reference price will automatically refresh every 30 seconds to provide you with the most up-to-date information.
When making a payment with your credit/debit card, you might be required to enter a CVV code for additional security. Additionally, some transactions may prompt you to undergo 3D Secure (3DS) verification to further safeguard your purchase.

Step 3: Please confirm that the details you’ve entered are correct and then click on Confirm.

Step 4: Card payment is processed.

Important Notes:

When making payments with your bank card, you may be prompted to enter a one-time passcode or confirm the transaction via your Bank’s app. Please be aware that 3D Secure (3DS) code verification may be required in some cases to enhance transaction security.
Typically, bank card payment processing is swiftly completed, often within minutes. Once the payment is successfully verified, the purchased cryptocurrency will be credited to your Bybit Fiat Wallet.

Step 5: Your order is now finalized.

To review your balance, click on "View Asset." You’ll also receive your order status through email and notifications if you’ve activated them.

For added security, set up Email Authentication by heading to "Account Security" and enabling Two-Factor Authentication.

You can also enable notifications under Settings.

The purchased cryptocurrency will be instantly credited to your account upon successful completion of the purchase.
Click on Buy again. You’ll be redirected to the order page.

To view your order history, please click on Orders in the upper right corner for more details.

Buy Crypto via P2P Trading from Bybit

Below is a step-by-step guide to assist you, as a buyer, in initiating your first Peer-to-Peer (P2P) transaction on Bybit:

On App

Step 1: Please click on Buy Crypto -- P2P on the home page.

Step 2: On the Buy page, you can filter for your preferred advertisers by filling in the Amount, Fiat Currencies, or Payment Methods fields based on your transaction needs. Furthermore, if you are new to the Peer-to-Peer (P2P) platform, you’ll be prompted to establish a unique nickname, a necessity for first-time users.

Step 3: Select your desired advertisement and click "Buy".

Step 4: Enter the fiat amount you wish to pay or the crypto amount you want to receive, and click "Buy" to continue.

You will then be directed to the order page, where you’ll have a 15-minute window to initiate the transfer to the seller’s bank account. After verifying that all the order details are accurate, click "Go to Pay" to proceed with your payment.

Notes:

P2P transactions will exclusively use the Funding account for processing, so please ensure your funds are available in your Funding account before initiating a transaction.
Your bank account name must match your registered name on Bybit. Inconsistencies may lead to the advertiser canceling the order and issuing a refund.
Bybit’s P2P system imposes zero transaction fees on both the buyer and the seller. However, traders may be subject to transaction fees from the chosen payment provider.

Step 5: Once you’ve completed the payment, click "Payment Completed". For real-time communication with sellers, you can access the Live Chat feature located in the upper right corner.

Step 6:
a. Once the crypto you’ve purchased has been successfully released by the seller, you can go to your P2P asset history to view the details, along with your transaction history.

You can also go back to the advertiser list and click on the three-dot menu on the upper right corner to view your order history.

b. If the seller fails to release the crypto after 10 minutes, you can click on Submit Appeal.

Our customer support team will reach out to you. During this period, please do not cancel the order unless you’ve received a refund from your seller.

If you encounter any order-related issues, kindly submit your inquiry using this form and clearly outline your concerns.

For expedited assistance, please include your UID, P2P order number, and any relevant screenshot(s).

On Desktop

Step 1: To access the P2P trading page, click on "Buy Crypto - P2P Trading" located in the top left corner of the navigation bar.

Step 2: On the Buy page, you can filter advertisers by entering your desired criteria for Amount, Fiat Currencies or Payment Methods, based on your transaction needs.

Notes:
Under the Advertiser column, the displayed order quantity and percentage refer to:

Number of orders made in 30 days
Completion rate in 30 days

Under the Limits column, advertisers have listed the minimum and maximum transaction limits per order — in fiat terms — for each advertisement.

Under the Payment Method column, you can see all supported payment methods for the advertisement you’ve selected.

Step 3: Choose your preferred advertisement, and click on Buy USDT.

Step 4: Enter the amount of fiat you want to pay, or the amount of crypto you want to receive, and click Buy to proceed.

Upon redirection to the order page, you will have a 15-minute window to initiate the money transfer to the seller’s bank account. It’s essential to double-check the accuracy of all order details before proceeding.

Additional Notes:

P2P transactions exclusively utilize the Funding account, so ensure your funds are available there before initiating a transaction.
Your bank account name must match your registered name on Bybit; discrepancies could lead to the advertiser canceling the order and issuing a refund.
Bybit’s P2P platform imposes zero transaction fees on both buyers and sellers. However, traders may be subject to transaction fees from the chosen payment provider.

Step 5: Once the payment is completed, click on "Payment Completed."

— Live Chat box is supported, allowing you to easily communicate with sellers in real-time.

Step 6:
a. Once the crypto you’ve purchased have been successfully released by the seller, you can click on Check Asset to view them, along with your transaction history. You can also check your order status from the P2P order history.

If you encounter any issues with your order, please send your inquiry via this form and specify your concerns.

To help you solve any problems more efficiently, please provide your UID, P2P order number, and any applicable screenshot(s).

How to Deposit Crypto to Bybit?

Deposit via Web

If you have crypto in other wallets or platforms, you can choose to transfer them to the Bybit platform for trading.

Step 1: Click on [Assets] in the top right corner and select [Deposit].

Step 2: Select the crypto that you would like to deposit.

Step 3: Select the chain type that you will use. After acknowledging the information message, you’ll see your Bybit deposit address. You can either scan the QR code or copy the deposit address and use it as the destination address to which you can send the funds.

Make sure that the network you select matches the one selected on your withdrawal platform. If you select the wrong network, your funds may be lost and they will not be recoverable.

Different networks have different transaction fees. You can select a network with lower fees for your withdrawals.

The deposit will be credited to your Spot Account by default. To change your default deposit account, you can set it up in the following two (2) ways:

Select Deposits auto-channeled to your Spot, Derivatives, or other accounts.
Head to the Settings page under Accounts and Security

Deposit via App

Step 1: Go to Assets located at the bottom right-hand corner of the page, and choose the "Deposit" button.

Step 2: Select the crypto, or enter your preferred crypto in the search box to proceed to the next step.

Step 3: On the Deposit page, select the correct chain type and you can either scan the QR code or copy the deposit address, and use it as the destination address to which you can send the funds.

The deposit will be credited to your Spot Account by default.

Buy Crypto with your Fiat Balance on Bybit

We offer support for a range of fiat currencies for purchasing cryptocurrencies, such as EUR, GBP, and more. Before you buy crypto with your fiat balance, it’s crucial to enable 2FA (Two-Factor Authentication). To set up 2FA, please visit "Account Security" and select "Two-Factor Authentication."

Here’s a step-by-step guide to help you buy cryptocurrencies with your fiat balance.

Step 1: Click on Buy Crypto – One-Click Buy on the top left corner of the navigation bar to enter the One-Click Buy page.

Step 2: Place an order through the following steps:

Take BRL/USDT as an example:

Select BRL as the Fiat currency for the payment.
Select the crypto you would like to receive in your Account.
Enter the purchase amount. You can enter the transaction amount based on fiat currency amount or coin amount, according to your needs.
Select BRL Balance as your payment method.

Step 3: Click on Buy With BRL.

Note: The Reference price will refresh every 30 seconds.

Step 4: Confirm that the details you’ve entered are correct, and then click on Confirm.

Step 5: Your transaction is complete. The coin will be deposited into your Funding Account within 1–2 minutes.

Click on View Asset to check your balance. You’ll receive your order status by email and notifications, if you’ve enabled them.
Click on Buy More. You’ll be redirected to the order page.

To view your order history, please click on Orders in the upper right corner for more details.

Benefits of Deposit Crypto to Bybit

Bybit is a cryptocurrency exchange that offers various services for trading cryptocurrencies, including spot trading and perpetual contracts. Deposit crypto to Bybit can have several benefits, depending on your trading and investment goals. Here are some advantages:

User-Friendly Interface: Bybit provides a user-friendly trading platform that’s accessible to traders of various experience levels. It offers advanced charting tools and features to assist in making informed trading decisions.
Trading Opportunities: Bybit allows you to trade a wide range of cryptocurrencies, including Bitcoin, Ethereum, and many others. Depositing crypto into Bybit gives you access to these trading opportunities, allowing you to potentially profit from price movements.
Leverage Trading: Bybit offers leverage trading, which means you can trade with more capital than you initially deposit. This can amplify your potential profits (but also your potential losses). If you’re an experienced trader and understand how to use leverage responsibly, it can be a benefit.
Diversification: Depositing multiple cryptocurrencies into Bybit can help you diversify your trading portfolio. Diversification can reduce risk by spreading your investments across different assets.
Liquidity: Bybit is a well-established exchange with good liquidity, making it easier to execute trades at your desired prices. High liquidity can lead to lower spreads and reduced slippage.
Security: Bybit takes security seriously, implementing various security measures such as cold storage for funds, two-factor authentication (2FA), and encryption to protect your deposited crypto assets.
Staking and Earning: Bybit may offer staking opportunities or ways to earn interest on your crypto holdings, allowing you to potentially generate passive income on your deposited assets.
Mobile Trading: Bybit offers a mobile app, enabling you to trade and manage your account on the go.
Hedging: You can use Bybit to hedge your existing crypto positions, potentially mitigating losses during market downturns.

Empowering Crypto Finances: Mastering Deposits and Withdrawals on Bybit

The ability to deposit funds into your Bybit account and execute withdrawals is fundamental in managing cryptocurrency investments. Understanding and mastering these processes ensure efficient fund management, empowering users to leverage their assets effectively in the dynamic world of crypto trading.