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February 28, 2022

How to start investing with Bybit - All-in-one Cryptocurrency platform

How to invest with Bybit, the crypto exchange offers countless opportunities.

How-to-start-investing-with-Bybit---All-in-one-Cryptocurrency-platform How-to-start-investing-with-Bybit---All-in-one-Cryptocurrency-platform

Safe, fast and advantageous investments on cryptocurrencies with Bybit.

The crypto exchange Bybit

Bybit is a Singapore-based crypto exchange company founded in 2018, regulated in the British Virgin Islands and registered as Bybit Fintech Limited, offering its clients the opportunity to invest in cryptocurrency derivative contracts using a highly skilled team and financial institutions extremely influential like Morgan Stanley.

The main objective of the company is to create a trading environment full of advantageous opportunities with an almost instantaneous execution speed, capable of satisfying the demands of the countless traders, both experienced and novice, scattered all over the world.

Bybit gives the possibility to every trader interested in cryptocurrency investments to carry out trading operations and deposit virtual coins with margin, being able to take advantage of a leverage up to a maximum of 1: 100.

The instruments offered by Bybit currently available for trading are spot products,
pairs and derivative contracts on cryptocurrency.

Spot tools available.
BTC, ETH, BIT, AAVE, ADA, AXS, BCH, CHZ, COMP, DYDX, DOGE, DOT, EOS, ETC, ICP, KLAY, KSM, LINK, LTC.
Pairs offered.
MANA, MKR, UNI, SUSHI, XLM, XTZ, XRP, YFI, ETH, XRP.
The derivative contracts offered are divided into inverse and linear.
Reverse BTCUSD, ETHUSD, DOTUSD, EOSUSD and XRPUSD.
Linear BTCUSDT, ETHUSDT, AAVEUSDT, ADAUSDT, ALGOUSDT, AXSUSDT, BNBUSDT, BCHUSDT, COMPUSDT, DOGEUSDT, DOTUSDT, EOSUSDT, ETCUSDT, FILUSDT, FTMUSDT, LINKUSDT, LTCUSDT, MATICUSDT, UNIUSDTUSDT, USDTUSDT, XPUSDT, XTUSDT, USDTUSDT, XTUSDT, XTUSDT, USDTUSDT , XLMUSDT, XTZUSDT.

Go to Bybit’s Official Website

Create a Bybit account

It is possible to create a Bybit account using two channels, via the web and via the app.

Via the web
For traders wishing to register via the web, just visit the official website and access the registration box on the right of the page.
Via the Bybit app.
Using the Bybit app it will be possible to register by clicking on the icon in the lower right corner of the home page or alternatively click on the “subscribe” icon visible at the top right.

After choosing the channel through which to register, you can register via email or mobile number.

Open Bybit’s Account

Registration by mail

Follow the steps below to register by email.

  1. Provide a valid email address, strong password and Reference Code (optional).
  2. After verifying the effective validity of the information entered, make sure you clearly understand and accept the terms and the privacy policy, click on the “register” icon.
  3. A verification page will then appear where you will need to drag the cursor to finish with the verification requirements.
  4. A verification code will be sent by e-mail and after entering it click on “Complete registration”.

Please note that in the event that you do not receive the verification email, just check the “spam” folder of your email.

Go to Bybit’s Official Website

Registration via mobile phone

To proceed with the registration via the mobile phone number, simply carry out the following.

  1. Select and enter the country code, mobile number, password and reference code.
  2. Read carefully and accept the terms and privacy policy, check the information provided and click on the “Register” icon.
  3. Follow the instructions regarding the verification process carefully, enter the SMS verification code sent to your mobile phone.

Open Bybit’s Account

Bybit account protection

Bybit offers its loyal customers impenetrable protection resulting from countless controls, but
yes, you can also provide for the security of your Bybit account by creating a complex password resistant to malicious people and activating 2FA.

Strong password.
One of the safest ways to protect your account from malicious hacker attacks comes from creating a very complex password that must include various characters, upper and lower case letters, numbers and symbols, avoiding the use of information such as the date of birth, telephone numbers, name and surname, etc.
Activate 2FA.
Two-factor authentication involves first entering your username (or email, telephone number or etc.) and your password and then you will be asked to provide a code generated and sent a few seconds after the first step and that it will be usable only once.

Traders will be able to proceed with the configuration both via the web and with the use of the mobile phone.

Web configuration

To proceed with the web configuration, simply click on the “Account and security” icon located at the top right of the page and then choose “Settings” in “Google two-factor” in the column dedicated to two-factor authentication.

Once the configuration window is open, the trader must click on the icon that reads “Send verification code” and complete the verification requirements by dragging the cursor, having verified the code sent to the registered email address or mobile number, just enter it and click on the “Confirm” box.

A window will appear containing all the information on how to set up Google two-factor authentication, associate your Bybit 2FA using Google Authenticator and perform the next simple steps.

  1. Open the Google Authenticator app and click on the “+” icon and click on “Scan a QR code”.
  2. After scanning the received QR code, the Google Authenticator app will provide your account with a secret six-digit 2FA code.
  3. Enter the code and click on the icon that says “Confirm”.

Please remember that the Bybit company always recommends the use of two-factor authentication for account protection, and every trader can feel more than secure by carefully writing down and keeping the key provided.

Open Bybit’s Account

Configuration via app use

To proceed with the configuration via the app it will be necessary to access the home page and click on the icon in the upper right corner and click on “Security” in the pop-up page and finally with a click to activate the Google authentication.

A verification code will be sent to the registered email or mobile number that must be entered to proceed with authentication.

After entering the code, a Google Authenticator page will open, click on the “continue” button to obtain a key to associate Bybit 2FA via Google Authenticator and follow the steps below to finish the configuration.

  1. Open the Google Authenticator app and click on “+” and select “Enter a configuration key”.
  2. Proceed to create the account name, paste the key in the “Key” tab and click “Add”.
  3. Return to the Bybit app, click on “Next” and enter the 6-digit code generated by Google Authenticator.

Go to Bybit’s Official Website

Commissions on crypto trading with Bybit

Trading commissions represent the costs that each trader will have to incur on order transactions in a given market.

Transactions vary by cost structure which may be subject to change with relatively short notice.

Trading on cryptocurrencies provides for different types of costs that each Bybit customer will have to bear, generally exchanges involve costs in relation to the volumes traded starting from 0.1% or more, nevertheless the commissions will not be applied solely in relation to the transactions carried out but also on deposits and withdrawals, on margin and leverage, bid-ask spreads and financing commissions.

Basically, the commissions vary according to the type of exchange, the type of contract carried out and the exchange policies established.

The cryptocurrency market is mainly divided into creators and buyers, any buy and sell orders are cataloged in the order register and through the “market and taker” system the trading fees will be determined.

Maker.
The market maker is a financial intermediary that provides market liquidity and is responsible for publishing the buying and selling prices of the listed securities it owns, offering traders the opportunity to buy or sell at those prices.
Taker.
The takers, on the other hand, remove liquidity from the market, placing traded orders immediately, even before being recorded in the order book.
When a Bybit trader places an order processed instantly, he will have to pay a commission equal to 0.075% on purchases and 0.10% on sales.
Creator buyer
Provides liquidity to order books Removes liquidity from order books
Not filled immediately Filled immediately
Discount on Bybit derivatives: -0.025% (Rebate) Bybit commission on derivatives: 0.075%

Open Bybit’s Account

Bybit trading commission structure

Bybit has extremely low commission costs and cost-effective discounts to incentivize market-making activities with the intention of improving market depth.

Perpetual contracts.
Bybit will not charge any maker fees and low fees for takers
on perpetual contracts.
Derivative contracts.
The commission on derivative contracts that both makers and takers will face is 0.05%.

The commissions with Bybit vary from maker to taker based on the type of market order (taker or Limit orders) and the speed of fulfillment.

taker commission.
Order value x commission.
Commission maker.
Order value x commission.
Creator discount Buyer rate
All trading spot pairs 0.1% 0.1%
Derivative contracts -0.025% 0.075%

The value of each order placed on the market depends on the trading volume, the contract price (spot, linear, perpetual or inverse contract)

The calculation for spot commissions with Bybit is as follows.

Trading Fee = Order Quantity Fulfilled x Fee Rate

Assuming a current price of BTC equivalent to $ 40,000 and a trader who intends to buy / sell 0.5 BTC with 20,000 USDT, everything will be calculated as follows.

  1. Trader A buys 0.5 BTC via a market order with USDT.
  2. Trader B buys 20,000 USDT with a limit order with BTC.
  3. Taker commission for trader A = 0.5 x 0.10% = 0.0005 BTC.
  4. Maker commission for trader B = 20,000 x 0.10% = 20 USDT
  5. Trader A buys 0.5 BTC with a market order and will have to pay a commission amounting to 0.0005 BTC, receiving 0.4995 BTC.
  6. Trader B buys USDT 20,000 via a limit order which is charged 0.1% of the maker’s fee, thereby receiving USDT 19,980.

Go to Bybit’s Official Website

Comparison of spot trading commissions accrued on the platform

Exchange Producer’s tariff Buyer’s tariff Net commission accrued on the platform
Bybit 0,10% 0,10% 0,10%
OKX 0.08% 0.10% 0.18%
Binance 0.10% 0.10% 0.20%
Huobi 0.20% 0.20% 0.40%
Kraken 0.16% 0.26% 0.42%
Twins 0.25% 0.35% 0.60%
Coinbase 0.50% 0.50% 1.00%
Bitstamp 0.50% 0.50% 1.00%

Official reference data of 26 July 2021.
The commission charged is calculated on the cryptocurrency actually purchased, there will be no commission for outstanding parts and canceled orders.

Open Bybit’s Account

Commissions on trading of Bybit derivatives

The commissions on trading derivatives with Bybit are calculated according to the following formula.

Trading Fee = Order Value × Trading Fee Rate

where the order value can be obtained through the following calculation.

Order value = Quantity / Price executed

For example, if a hypothetical trader A purchases contracts totaling 10,000 BTCUSD using a single market order.

Trader B, on the other hand, sells contracts worth 10,000 BTCUSD using a Limit Order.

Assuming the execution price is $ 40,000:

  1. Buying commission for trader A = 10,000 / 40,000 × 0.075% = 0.0001875 BTC.
  2. Producer commission for trader B = 10,000 / 40,000 × -0.025% = -0.0000625 BTC.

At the very moment of execution, trader A will have to pay a commission of 0.0001875 BTC, while trader B will receive a discount from the Maker equivalent to 0.0000625 BTC.

Maker discount Price taker
All reverse perpetual contracts -0.025% 0.075%
All reverse futures contracts -0.025% 0.075%
Maker discount Price taker
All USDT perpetual contracts -0.025% 0.075%

Go to Bybit’s Official Website

Fees for Bybit deposit and withdrawal

Since September 2021, Bybit has not charged any deposit fees for trading on cryptocurrencies, but it should be noted that there are commission costs deriving from withdrawals, which vary according to the cryptocurrency to be withdrawn.

The Bybit management structure does not provide for any minimum deposit unlike the minimum withdrawal amount available.

The costs that affect the withdrawals just mentioned refer to the commissions of the miner or the network, different between the various cryptocurrencies.

BTC ET XRP EOS USDT (ERC20) USDT (TRC20) DOGE DOT LTC XLM
0.0005 0.005 0.25 0.1 10 1 5 0.1 0.001 0.02
BTC ET XRP EOS USDT (ERC20) USDT (TRC20) DOGE DOT LTC XLM
0.001 0.02 20 0.20 20 10 25 1.50 0.10 8

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Bybit leverage fees

By definition, leverage is an instrument by which the trader has the ability to increase exposure to the financial market despite a relatively modest capital investment, which means that a trader can use capital borrowed from a broker to invest more. than is possible in relation to the capital held in your trading account.

It is a very common investment technique that aims to increase returns on capital, traders also use leverage to increase their purchasing power on the market which could consequently increase returns.

Bybit offers a maximum leverage of 1: 100 which requires an increase in the initial margin and the maintenance margin.

The leverage in addition to the features described above, the leverage also increases trading commissions, for example with a 2 × leverage, trading commissions will increase by 2 ×.

Paying 0.075% on the value of 10 BTC with 2 × leverage, the expense deriving from the commission costs will be equal to 0.075% on the value of 20 BTC instead of 10 BTC.

Go to Bybit’s Official Website

Bybit financing fees

Financing fees ensure that the last negotiated price and the global spot price coincide and the main rules imposed by Bybit on this subject are as follows.

  1. In the event that the funding rate is positive, traders with long positions will have to pay the holders of short positions.
  2. In the event that the borrowing rate is negative, holders of short positions will have to pay the holders of long positions.
  3. Traders can only pay or receive funding fees every 8 hours if they hold a position at 16:00 UTC, 00:00 UTC and 08:00 UTC.
  4. Holders of long positions will have to pay a financing rate of 0.01% to holders of short positions in a time not exceeding approximately 8 hours.

Financing fees are calculated as follows:

Funding Fee = Position Value × Funding Rate

Position value = Contract quantity / Cash on delivery price

Assuming that a trader holds a hypothetical long position of 10,000 BTCUSD contracts with the reference price standing at $ 8,000 with the current funding rate at 0.0408% (0.000408).

Position value = 10,000 / 8,000 = 1.25 BTC

Financing Fee = 1.25 BTC × 0.000408 = 0.00051 BTC

In this specific case, since the loan rate is positive, the holders of long positions will have to pay the holders of short positions.

Open Bybit’s Account

How to start investing with Bybit

Bybit is a company that commits many resources to offer a wide range of services whose main objective is the disclosure of essential information for trading on cryptocurrencies.

Video tutorials, blogs and practical guides are essential in order to fully understand the basics for trading on crypto and start using the Bybit platform correctly, then you can consult a quick overview on how to start trading with Bybit.

The first step involves a “Know Your Customer (KYC)” check, offered by Bybit to ensure maximum security and protected access to additional services.

Know Your Customer, also called Kyt (translated into Italian “know your customer”), corresponds to a series of procedures that must necessarily be applied by institutions and professionals by law and the aforementioned procedures are necessary for the acquisition of data sensitive and certain information on the identity of their users and customers.

The Know Your Customer structure is carried out through different phases, consisting of numerous and complex verification mechanisms.

The documentation necessary to carry out the verification includes identity cards, bank statements, certified proof of residence and bills with certain data to release different withdrawal limits and the more information provided during the verification process, the higher the limit will be. withdrawal.

Level 0 Level 1 Level 2
User action Subscription Upload ID card / passport + facial scan Proof of residence
System check Verify authenticity of document and facial recognition Bank statement or other document containing legal name and user address
Max withdrawal allowed Max 2 BTC up to 50 BTC up to 100 BTC

The list below shows the main steps for the concrete implementation of the KYC procedure.

  1. Sign up or log in to your Bybit account.
  2. Click on the avatar.
  3. After registering or logging in to your account, click on Account and security and proceed with verification.
  4. Submit the mandatory information to proceed with the level 1 verification (country of issuance of the identity card, scan and send your valid identification document, proceed with facial recognition via PC.

Go to Bybit’s Official Website

Bottom Line

Bybit has a technologically advanced platform compatible with any style and tranding strategy, the intelligent and intuitive software offers extremely reliable and easy-to-use services for any operation, from the sale to the exchange of cryptocurrencies.

Before starting trading, the client must first have a clear idea of ​​how and what to invest and be aware of any costs to be incurred.

Bybit offers a trading environment based on easy to understand concepts and the costs to be incurred deriving from the commissions are based on the simplified maker / taker model, with which it will be possible to calculate extremely convenient commissions capable of increasing liquidity to the order books.

  • Bybit does not charge any deposit fees.
  • The withdrawal fees applied are among the lowest on the market.
  • Commissions on derivatives and commercials are among the most advantageous on the market and can be calculated very easily and with maximum transparency.
  • In addition, each trader, in order to further reduce trading commissions, will be able to take advantage of additional discounts and discover new promotions in the Rewards Hub.

Open Bybit’s Account

Open a position with Bybit

First of all, it should be remembered that Bybit offers three types of products available for trading, namely Spot, Derivatives and Defi.

Subsequently, the various phases will be analyzed in detail to proceed with a Bybit investment on each product.

For clients who want to invest on Spot using the web trading page.

  • Visit the official website and click on Spot to access the dedicated page.
  • See the list of pairs, last traded price (USDT), and exchange rate on the left side of the page.
  • For a targeted search, enter the name of the desired couple in the search box.
  • Using the “favorites” column, it will be possible to view the pairs most used by traders.
  • For the complete list of available trading pairs click on the icon at the top left.
  • Select “Market”
  • Proceed to purchase / sale or use the percentage bar.
  • Click on buy / sell.
  • Confirm the requested operation.

Traders who opt for the app to trade on Spot with Bybit will be able to start trading and open positions as explained below

  • Select “spot” at the bottom right with default BTC / USDT.
  • To see the list of available pairs click on the icon at the top left.
  • Proceed to order confirmation as listed for tradingSpot web.

Go to Bybit’s Official Website

Derivatives

Bybit has a wide range of derivative products being able to choose between USDT Perpetual, Inverse Perpetual and Inverse Future.

For traders who opt for the web version it will be necessary to visit Bybit official website.

  • Click on “Trade” located in the navigation bar.
  • In the drop-down menu, choose the type of contract and pair you want to access the page dedicated to trading on derivatives.
  • By selecting the “assets” column at the top right, it will be possible to monitor the balance available for investments before proceeding with the order.
  • Carefully select the margin mode and set the leverage mode by being able to choose between cross and isolated.
  • Choose the type of order being able to opt for Limit, Market or Conditional.
  • Enter the price of the chosen order.
  • Establish quantity or any percentage bar for a quick setting of the order contract quantities.
  • Buy long with TP / SL or sell short with TP / SL.
  • Click on buy long / sell short.
  • After carefully checking the order to be placed, click on “Confirm”.

Open Bybit’s Account

For traders who have preferred the app version offered by Bybit it will be necessary to proceed as follows to place an order.

  • Click on the “Contract” button at the bottom to access the BTC / USD default page.
  • To view additional pairs available for trading, simply click on the icon at the top left.
  • Proceed to order as listed for web derivatives trading.

Visit Bybit’s Official Website

ByFi Center

The ByFi Center service offered by the company makes Cloud Mining and DeFi products available to traders

To be able to use them, proceed as follows.

  • Click on ByFi Center and choose between Cloud Mining and DeFi.
  • Make sure you have sufficient funds to proceed with the purchase.
  • In case of insufficient funds, log into your account and proceed with the transfer of resources.

In order to make a credit in case of insufficient funds for trading, you will need to log into your Bybit account and click on the “Transfer” button in the USDT column, then you will be able to access the transfer window and credit the funds from the Account Derivatives to the ByFi Account where the trader must decide the amount to invest and then enter the amount, click on “Confirm”.

Please note that the default currency is USDT and currently only USDT payments are supported.

Once the funds transfer procedure has been completed, it will be possible to access the page and proceed with the purchase operations.

  • To make a direct purchase of the selected product click on “Buy now”.
  • Confirm your order information and click “Buy”.
  • After confirming by clicking on the “OK” button, the page relating to the details of the order will be displayed automatically.

Open Bybit’s Account

Closing positions with Bybit

Bybit has various methods to be implemented in order to close a position, each trader can decide to close a position partially or totally, open an order in the opposite direction to the previous one, use the Take Profit / Stop Loss (TP / SL) service and execute operations quick exchange.

Traders who decide to opt for a total or partial position closure, traders will have to proceed as follows.

  • Go to the “Positions” tab to close a position totally or partially and click on the “Close” button.
  • Opt for a “Limit” or “Market” close.
  • Enter the amount to close you decide or select a proportion of the amount you want to close.
  • Click on “Confirm”.

To be able to place a clearing order in the opposite direction of the previous one, you can continue as described below.

Unidirectional Inverse Perpetual and Inverse Futures Contracts.
With this type of contract it is possible to place an order opposite to the position previously taken in the order area.
USDT perpetual and reverse futures contracts in hedge mode.
Click on the “Close” button visible in the order area to proceed with sending an order in the opposite direction.
Reverse Futures Contracts.
The trader must first make sure that he is in Hedge mode, in the event that this is not the case, simply click on the settings button located on the right side of the page, click on “Close” and enter the preferred order.

Using the Take Profit / Stop Loss (TP / SL) order service, traders can choose to select TP / SL on full position or TP / SL on partial position.

For the TP / SL option over the entire position proceed as follows.

  • Traders using the web version of the software will need to click on the “+ Add” button in TP / SL.
  • Traders using the app will be able to proceed by clicking on “Set TP / SL”.
  • For a Take Profit order Enter the take price or select a percentage of the ROI, activate the price that best suits your expectations.
  • To access the Stop Loss service, add the price or choose a percentage of the ROI, select the desired price and click “Confirm”.

Traders who decide to use the TP / SL service partially on the selected position will have to perform the next steps with extreme precision.

  • Web traders will have to click on the “+ Add” button in TP / SL while app users can do so by clicking on “Set TP / SL”.
  • For a partial Take Profit order, you can either enter the take profit price or select a percentage of the ROI, enter the decided price and set the order quantity.
  • Proceed to enter the agreed price.
  • For the partial Stop Loss order, specify the decided price or select any percentage of the ROI, select the price, enter the decided order quantity and click on “Confirm.

Open Bybit’s Account

Quick exchange functions

The rapid exchange functions are extremely beneficial for traders who structure their trading strategies to make them more effective in the cryptocurrency markets that are subject to constant fluctuations.

Traders who carry out quick opening operations of orders in One-Way mode, will also be able to use the Quick Open function to be able to place both total and partial orders on the chart.

The Quick Close is located on the left side of the chart, where you can view your current position and click the “X” button to immediately close the position at the market price.

Note that the Quick Close feature is only available from the desktop.

Go to Bybit’s Official Website

Withdrawal operations with Bybit

Making a withdrawal of funds from your Bybit account will be an extremely simple operation for traders, but we would like to remind that each withdrawal will have a minimum / maximum amount limit on which a commission will be charged.

Withdrawal for web traders.
Traders on the web will be able to proceed with a withdrawal by clicking on the “Resources / Spot Account” icon located in the upper right corner of the home page, the Activities page will be displayed under Spot Account where you can complete the operation by clicking on “Withdraw” in the column of the cryptocurrency with which you decide to withdraw.
Withdrawal for traders using Bybit apps.
Click on the “Activity” icon located in the lower right corner of the screen, click on “Withdraw” and select the currency to proceed.

In order to meet the needs of its trades, Bybit has a wide range of tools with which to make a withdrawal: BTC, ETH, BIT, XRP, EOS, USDT, DOT, LTC, XLM, Doge, UNI, SUSHI, YFI, LINK, AAVE, COMP, MKR, DYDX, MANA, AXS, CHZ, ADA, ICP, KSM, BCH, XTZ, KLAY, PERP, ANKR, CRV, ZRX, AGLD, BAT, OMG, TRIBE, USDC, QNT, GRT, SRM, SOL and FIL.

It is extremely important to remember the following.

  • Any withdrawal can only be made through the use of a Spot account.
  • If you want to proceed with a withdrawal from the Derivatives account, you will have to transfer the funds to the Spot account by clicking on the “Transfer” icon.

Each customer who uses the web, before sending a possible withdrawal request, must make sure that he has linked the address of his withdrawal wallet to the Bybit account, in case he does not have a withdrawal address just click on “Add” to set it and proceed with the following steps.

  1. Select the “Type of chain” being able to choose between ERC-20 or TRC-20.
  2. Click on “Wallet Address” and select the address of the receiving wallet.
  3. Enter the amount intended for the withdrawal or click on the “All” icon to proceed with the withdrawal of the entire deposited fund.
  4. Click on “Submit”

Traders who have opted to use the app will have to select “ERC -20” or “TRC-20” and enter the desired amount or click “All” to withdraw all the funds in the account, before clicking to “Next”.

After selecting the address of the receiving wallet, click on “Send” and if you do not have a withdrawal wallet address, you can create one by clicking on “wallet address”.

Open Bybit’s Account

After having sent the withdrawal request by clicking on the “Submit” button, the verification page will be displayed through which you will be requested as follows.

E-mail verification code.
Click on “Get code” and then having received it on your registered e-mail account, enter it.
Google Authenticator Code.
Enter the 6-digit Google Authenticator 2FA security code.
Click on “Submit”.
Termination of successful withdrawal request.

Go to Bybit’s Official Website

Timing of funds withdrawal

Bybit guarantees traders an immediate withdrawal service and the timing of processing varies according to the blockchain and the state of network traffic.

Bybit takes care of withdrawal requests 3 times a day, at 0800, 1600 and 2400 UTC and the time limit to which any withdrawal requests are subject will be 30 minutes prior to the scheduled withdrawal processing time.

that is, if for example if you make a request before 0730 UTC, it will be processed at 0800 UTC, but all requests made after 0730 UTC will be processed at 1600 UTC.

It should be noted that after having successfully provided a withdrawal request, any promotions or bonuses present in the account will be automatically reset.

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Maximum amount foreseen for instant withdrawal

The Bybit management structure provides for a maximum withdrawal amount that varies according to the instrument selected for the operation.

Tool Wallet 2.0 Wallet 1.0
BTC <5 ≥5
ET <70 ≥70
EOS <60,000 ≥60,000
XRP <250,000 ≥250,000
USDT <100,000 ≥100,000
Others Instant Withdrawal Instant Withdrawal
  • Wallet 2.0 supports instant / instant withdrawal with a withdrawal time of up to 30 minutes.
  • Wallet 1.0 handles all withdrawal requests three (3) times a day at 0800,1600 and 2400 UTC.

Go to Bybit’s Official Website

Minimum deposit amount

In the following table you can find out the minimum amounts regarding deposits and withdrawals to be made on your Bybit account.

Coin Minimum deposit Minimum withdrawal
BTC No minimum 0.001
ETH No minimum 0.02
BIT No minimum 8
EOS No minimum 0.2
XRP No minimum 20
USDT (ERC-20) No minimum 20
USDT (TRC-20) No minimum 10
DOGE No minimum 25
DOT No minimum 1,5
LTC No minimum 0,1
XLM No minimum 8
UNI No minimum 2.02
SUSHI No minimum 4,6
YFI No minimum 0.0016
LINK No minimum 1.12
AAVE No minimum 0.32
COMP No minimum 0.14
MKR No minimum 0,016
DYDX No minimum 15
MANA No minimum 126
AXS No minimum 0.78
CHZ No minimum 160
ADA No minimum 2
ICP No minimum 0.006
KSM No minimum 0.21
BCH No minimum 0.01
XTZ No minimum 1
KLAY No minimum 0,01
PERP No minimum 6.42
ANKR No minimum 636
CRV No minimum 20
ZRX No minimum 54
AGLD No minimum 13
BAT No minimum 76
OMG No minimum 4.02
TRIBE No minimum 86
USDC No minimum 50
QNT No minimum 0.2
GRT No minimum 78
SRM No minimum 7.06
SOL No minimum 0.21
FIL No minimum 0,1

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Fees on withdrawal and deposit

The following list presents all the commissions to be paid in case of withdrawal with Bybit.

Coin Withdrawal fees
AAVE 0.16
ADA 2
AGLD 6.76
ANKR 318
AXS 0.39
BAT 38
BHC 0,01
BIT 13,43
BTC 0.0005
CBX 18
CHZ 80
COMP 0.068
CRV 10
DASH 0.002
DOGE 5
DOT 0,1
DYDX 9.45
EOS 0,1
ETH 0.005
FIL 0.001
GODS 5,8
GRT 39
ICP 0.006
IMX 1
KLAY 0,01
KSM 0.21
LINK 0.512
LTC 0.001
MOON 0,02
MANA 32
MKR 0.0095
NU 30
OMG 2.01
PERP 3.21
QNT 0,098
SAND 17
SPELL 812
SOL 0,01
SRM 3.53
SUSHI 2,3
TRIBE 44.5
UNI 1.16
USDC 25
USDT (ERC-20) 10
USDT (TRC-20) 1
WAVE 0.002
XLM 0,02
XRP 0.25
XTZ 1
YFI 0.00082
ZRX 27

Go to Bybit’s Official Website

Promotions, Bonuses, referral codes

Bybit offers its clients numerous extremely advantageous solutions to incentivize cryptocurrency trading, through Rewards Hubs, referral programs and promotions that will allow traders to make the most of every opportunity and with greater volumes.

Rewards hub

Through the “Rewards Hub” offer, every trader will be able to receive advantageous rewards with extreme ease, being able to earn $ 600 or more of bonuses and coupons that can amortize the losses deriving from commissions and non-interest-bearing investments.

In addition, by successfully making deposits into your account, using the TP / SL service and by investing in perpetual USDT contracts, you will be able to receive cash rewards of up to $ 85.

A Big Deal – $ 50 Coupon.
With this offer, traders will be able to receive $ 50 on their first deposit made within 48 hours of registration or alternatively $ 10 if made 48 hours after registration.
Active Trader – $ 5 Coupon.
By actively trading for 7 days each trader will receive a $ 5 reward.
Total Deposit – $ 20 Coupon.
By making a deposit of no less than 1 BTC you will receive a coupon of $ 20.
Take Profit / Stop Loss – $ 5 Coupon.
In order to receive the coupon you will have to Use TP / SL at least once, make sure it is correctly set in the order area and successfully execute TP / SL.
Trading New USDT Pairs – $ 5 Coupon.
This coupon (which can only be requested once) will be granted to traders who decide to invest in at least one USDT perpetual contract (excluding BTC / USDT).

After having requested any of the coupons described above, the trader can view them in detail by clicking on “my prizes”.

Go to Bybit’s Official Website

Reference program

Another simple system to be able to receive advantageous rewards is to invite your friends and acquaintances to experience trading on cryptovslute with Bybit, thanks to this promotion both the trader and his invited friends will be able to earn a bonus of $ 20 in USDT each.

By following the next simple steps you will be able to join the Referral Program initiative.

  • Log in to your Bybit account
  • Visit the Bybit referral program page.
  • Sharing with friends they will want to join the promotion the unique reference code / link or alternatively the QR code.

The bonus will be credited to your Bybit trading account as soon as the invited friend has successfully registered and has made at least one USDT perpetual and reverse contracts operation.

What’s more, it will be possible to receive additional Mystery Reward Cards worth up to $ 500 when your referee (friend, invited acquaintance) trades.

There are two ways to receive reward cards with Bybit.

  1. With three regularly registered referees (friends), an award card will be credited directly to the account.
  2. When the albitri each invest at least $ 100,000 in total exchange, a new card will be credited.

The main features of the offer are listed below in detail.

  • A “qualified arbitrator” is defined as a new user duly registered on Bybit through the use of the reference code sent by the trader who invited him, who made a deposit and who has exchanged at least $ 1,000 for perpetual and inverse contracts USDT by 8:00 UTC, starting July 1, 2021.
  • Only and only exchanges on perpetual and reverse USDT contracts by each of the invited qualified arbitrators, from 8:00 UTC on 1 July 2021 to 23:59 UTC on 30 September 2021, will be considered valid for the offer.
  • Any Bybit customer has the opportunity to subscribe to the offer.

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