🏦How to Make a Deposit in Bybit (A Complete Guide)
Last updated
Last updated
Looking for a guide on how to deposit funds on Bybit? We hear you! Here is a detailed operation process so that you can easily make a deposit by transferring cryptocurrency from your wallet or depositing fiat currency to your Bybit account.
How To Make A Deposit
To transfer crypto assets to Bybit, here’s what you need to know. Bybit Web Page:
You’ll need to click on “Assets” at the top right-hand corner of the Bybit home page.
You will be directed to the “Assets page” under the “Spot Account.” Then, click “Deposit” in the column of the currency you want to deposit.
Bybit Crypto Exchange App:
To transfer your crypto from other wallets or exchanges, you’ll need to sign up or log in to your Bybit account. Then click the button located at the bottom right-hand corner of the page, and click the “Deposit” button. Then select the currency to proceed to the next step.
Note:
As of October 2021, Bybit only accepts BTC, ETH, XRP, EOS, USDT, BIT, DOGE, DOT, LTC, XLM, AAVE, COMP, LINK, MKR, SUSHI, UNI, YFI deposits.
Taking USDT as an example:
After clicking “Deposit”, you will be directed to your Bybit deposit address. From there, 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. Before proceeding, make sure you have selected the chain types — ERC20, TRC20, or OMNI.
*Please do not transfer any other cryptocurrencies to the wallet address. If you do so, those assets will be lost forever.
Please note that deposits will be performed directly via the spot account. For users who registered with Bybit before July 15, 2021, your funds will be deposited to the spot account and auto-channeled to the account of the derivative. Funds will be deposited to the spot account for accounts registered after July 15, 2021.
To change your default deposit account, you can set it up in two (2) ways.
Adjust the Deposit Settings via the Web:
1. Click “Modify” in the deposit pop-up window to enter the settings page, or
2. Head to the Settings page under “Accounts and Security”
Adjust the Deposit Settings via Bybit App:
1. Click “Settings” on the deposit page to set whether to auto-transfer of funds to a derivatives account, or
2. Head to the general settings page under “General”
Note
For ETH deposit: Bybit currently only supports ETH direct transfer. Please do not transfer your ETH using Smart Contract transfer.
For EOS deposit: When transferring to the Bybit wallet, remember to fill in the correct wallet address and your UID as a “Memo.” Otherwise, the deposit will not be successful. Please note that your memo is your Unique ID (UID) on Bybit.
When transferring to the Bybit wallet, make sure to fill in your UID as “Tag”. Otherwise, the transfer will not be reflected in your trading account. Please note that your Tag is your UID on Bybit. You may find the UID at the “Account & Security” drop-down, where your user information is shown.
Based on the miner fees you pay and the transaction amount on the blockchain network, your deposit usually takes about 10 minutes to reach your Bybit account.
Once the deposit is completed, please go to the asset page to view your transaction.
Make a Deposit – Crypto Transfer
All coins have no minimum deposit requirements except for SOL.
| Minimum Deposit Amount |
SOL | 0.01 SOL |
Others | No minimum amount required |
Note:
── Deposits less than 0.01 SOL will not be credited to your account, and assets will not be recoverable.
The expected time for your deposits to appear in the Bybit wallet usually takes around two (2) hours. But it is subjected to the transaction confirmation speed of the respective blockchains.
You can also easily buy BTC, ETH and USDT with multiple fiat currencies on Bybit.
Before we deposit funds through Bybit’s Express/One-click Buy, please note that Bybit does not handle fiat deposits directly. This service is wholly handled by third-party payment providers: Banxa, XanPool, MoonPay, Mercuryo, Paxful and Simplex.
Let’s get started.
Please click “Buy Crypto” on the left side of the navigation bar to enter the One-click Buy page.
Step 1: Select the fiat currency you want to pay. For example, your preferred currency is USD, you'd like to click on “USD” in the drop-down menu.
Currently, there are 59 fiat currencies supported for fiat deposits, including: AUD, BGN, BRL, CAD, CHF, COP, CZK, DKK, DOP, EGP, EUR, GBP, HKD, HRK, IDR, ILS, INR, JOD, JPY, KES, KWD, LKR, MAD, MXN, MYR, NGN, NOK, NZD, OMR, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TWD, UAH, USD, VND, ZAR, ARS, AZN, CLP, CRC, GEL, HUF, KZT, MDL, NAD, UYU, QAR, SAR, AED, and UZS.
You can check the allowable purchase limit for each currency in the input box. It may vary depending on the service provider you’ve selected. For example, the limit per transaction to buying BTC via MoonPay is capped at a minimum of $30 and the maximum purchase amount is $12,000. While Banxa has a maximum limit of $15,000.
Step 2: Select the cryptocurrency you would like to receive in your Bybit wallet address. Currently only BTC, ETH and USDT are supported.
Step 3: Enter the amount. You can enter the deposit amount based on fiat currency amount (e.g., $1,000) or cryptocurrency amount (e.g., 0.1 BTC) according to your needs.
In addition, you can check the reference price at the bottom right.
Step 4: Select from the list of service providers.
According to the fiat currency and cryptocurrency selected by the user, the supplier that provides the corresponding service is displayed in the list. For example, when we buy BTC in USD, there are three providers: Mercuryo, MoonPay and Banxa. They will be ranked from top to bottom with the best exchange rate first.
We can obtain the following information from the list of service providers:
Name of the service provider
Reference quote and estimated transfer time
The estimated amount of convertible cryptocurrency
Supported payment methods and the “Buy” button
Note: The real-time quote is for reference only. Please refer to the service provider’s website for the exact exchange rate. The real-time quote in the upper right corner will be refreshed every 30 seconds. You can also click “Refresh” to get the latest quote.
Step 5: Click on the “Buy” button. An information window will pop up. Please read carefully to ensure you understand and agree with the terms and conditions. Proceed by clicking on the “OK” button. You will be redirected to the third-party payment provider’s official web page.
Note: Third-Party Payment is a service provided by third-party service providers. More than eight (8) external service providers are available on Bybit. For a successful purchase, all traders must complete the KYC with third-party service providers.
Please refer to One-Click Buy - Third Party Payment Channelto learn more.
Currently, Bybit offers up to six fiat currencies for traders to be deposited to fund their coin purchases on the platform.
To deposit your fiat into your Bybit account, please click "Buy Crypto," and in the drop-down menu, select "Fiat Deposit."
Users can buy and sell crypto, including USDT on P2P Trading on Bybit, using different currencies. The platform currently supports over 30 payment methods. Users can buy and sell the USDT from the listed advertiser according to their preferred payment method. To purchase using P2P Trading, head over to "Buy Crypto," and under the drop-down menu, select "P2P Trading".
To learn more, please refer to How to Buy Coins on P2P.
Note
For a first-time user, you first need to create an account on Bybit and then complete the Know-Your-Client (KYC) verification to unlock different tiers of deposit and withdrawal limits.
After successfully depositing fiat currency into Bybit, you can click on “History” to view historical transaction records.
Once the deposit is completed, the funds will be credited to your Funding account. Once your account is funded, you can purchase crypto using the deposited fiat balance.
