How to Deposit in Bybit
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 Deposit Crypto
To transfer crypto assets to Bybit, here’s what you need to know.
Bybit Web Page
You’ll need to click on “Assets / Spot Account” 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.
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.
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.
Deposit USDT on Bybit App
Choose Chain type and copy address on Bybit App
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.
How to Buy Crypto with Fiat
You can also easily buy BTC, ETH and USDT with multiple fiat currencies on Bybit.
Before we deposit funds through Bybit’s Fiat Gateway, please note that Bybit does not handle fiat deposits directly. This service is wholly handled by third-party payment providers.
Let’s get started.
Please click “Buy Crypto” on the left side of the navigation bar to enter the Fiat Gateway deposit page,
You can set up an order and view payment details in one page, before you select a third-party service provider
Step 1: Select the fiat currency you want to pay. Click on “USD” and the drop-down menu will appear.
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)
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 five providers: LegendTrading, Simplex, MoonPay, Banxa and Paxful. They will be ranked from top to bottom with the best exchange rate first.
Step 5: Read and agree to the disclaimer, then clicking on the “Continue” button. You will be redirected to the third-party payment provider’s official web page.
After successfully depositing fiat currency into Bybit, you can click on “History” to view historical transaction records.
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 Bybits operating budget for increased financial accountability.
For Bybit wallet 2.0 to support immediate withdrawal, only a small percentage of coins will be held in the hot wallet. As a way to protect the clients funds, the remaining will still be kept in the cold wallet. Bybit always puts our client interest first, fund safety is the basic of all and we have and always work to ensure we have the highest level of asset security.
Frequently Asked Questions (FAQ)
Will there be any transaction fees if I purchase crypto via Bybits fiat service providers?
Most service providers charge transaction fees for crypto purchase. Please check the official website of the respective service provider for the actual fee.
Will Bybit charge any transaction fee?
No, Bybit will not charge users any transaction fee.
Why is the final price quote from the service provider different from the quote I saw on Bybit?
The prices quoted on Bybit are derived from prices provided by third-party service providers, and are for references only. It may differ from the final quote due to market movement or rounding error. Please refer to the respective service providers official website for accurate quotes.
Why is my final exchange rate different from the one I saw on the Bybit platform?
The figures stated on Bybit only serves to be indicative and are quoted based on the traders last inquiry. It does not dynamically change based on the price movement of the cryptocurrency. For the final exchange rates and figures, please refer to our third party providers’ website.
When will I receive the cryptocurrency I purchased?
The cryptocurrency is usually deposited into your Bybit account in 2 to 30 minutes after purchase. It may take longer, however, depending on blockchain network condition and service level of the respective service provider. For new users, it may take up to one day.
How to Trade Crypto at Bybit
How to Trade on Spot
For traders who are using the web trading page, please head over to the Bybit homepage, and click “Spot“ on the navigation bar, then choose the trading pairs to enter the spot trading page.
On the left side of the page, you can see all trading pairs, as well as the Last Traded Price (USDT) and 24-hour change percentage of the corresponding trading pairs. To quickly find the trading pair you desire, please directly enter the trading pair you want to view in the search box.
Tip: Click the star icon. Then you can include frequently viewed trading pairs in the “Favorites” column, allowing you to easily select trading pairs for trading.
For traders using Bybit’s app, select “Spot” at the bottom right to enter the trading page that defaults to BTC/USDT.
Want to view other trading pairs? Please click on the trading pair in the upper left corner, and you will see a full list of trading pairs. Simply select the one you want to trade.
— Please make sure that there are sufficient funds in your Spot account. If the funds are insufficient, traders who use the web can click “Deposit” or “Transfer” in the order zone to enter the asset page for Deposit or Transfer. For more deposit information, please refer here.
The following example uses a BTC/USDT Market Order.
1. Select “Market”.
2.(a) Buy: Enter the amount of USDT paid to buy BTC.
Sell: Enter the amount of BTC to sell to buy USDT, or
(b) Use the percentage bar.
For example, if you want to buy BTC, the available balance in the Spot account has 10,000 USDT, and you choose 50% — that is, buy 5,000 USDT equivalent of BTC.
3. Click “Buy BTC” or ”Sell BTC”.
||(On Mobile App)
After confirming that the entered information is correct, click “Buy BTC” or ”Sell BTC”.
||(On Mobile App)
Congratulations! Your order has been filled.
For traders on the web, please go to “Filled” to view the order details.
For traders using the app, click “All Orders” and then select “Order History” to view order details.
How to Trade on Derivatives
Bybit provides diversified derivative products. You can choose from a range of USDT Perpetual, Inverse Perpetual and Inverse Futures.
For traders on the web, please head over to the Bybit homepage. Click “Derivatives” in the navigation bar, and select the contract type and trading pair from the drop-down menu to enter the Derivatives trading page.
Select Trading Pair
- Choose from a range of USDT Perpetual and Inverse Contracts.
Manage Your Assets
- View your equity and available balance in real time. Top up your account with ease.
Place Your Order
- Set up your order conditions: Select cross or isolated margin mode, 1x to 100x leverage, order type and more. Click on the Buy/Sell button to complete the order.
- The price that triggers liquidation. Mark Price tracks the spot index price closely and may differ from Last Traded Price.
Positions and Order History
- Check the status of your current positions, orders, and history of orders and trades.
For traders using Bybit’s app, click on “Derivatives” in the middle bottom to enter the trading page that defaults to BTC/USD.
Want to view other trading pairs? Please click on the trading pair in the upper left corner and you will see a full list of trading pairs. Then, simply select the one you want to trade.
Move to the order zone and follow the steps below to start placing your order.
||(On Mobile App)
Taking the BTC/USD limit order as an example:
1. Select Margin mode and set leverage.
(On Mobile App)
2. Select order type: Limit, Market or Conditional.
3. Enter order price.
4. (a) Enter quantity, or (b) Use the percentage bar to quickly set an order’s contract quantity with the corresponding proportion of the account’s available margin.
5. Set Buy Long with TP/SL, or Sell Short with TP/SL (optional).
6. Click “Open Long” or “Open Short”.
Next, a confirmation window will appear. After checking the order information, click “Confirm”.
||(On Mobile App)
Your order has been submitted successfully!
After your order is filled, you can view the order details in the position tab.
How to Trade on ByFi Center
ByFi Center provides you with Cloud Mining and Decentralized Finance (DeFi) products.
Let’s take DeFi Mining as an example.
First, click “ByFi Center” – “Defi Mining” to visit the DeFi Mining page.
Please make sure that your ByFi account has sufficient funds before you purchase a plan.
If there are not enough funds in your account:
- You can log into your ByFi account and then click “Transfer” in the USDT column to transfer assets, as shown below.
After that, the Transfer window will pop up. You will only need to follow these steps:
1. Choose to transfer funds from Derivatives Account to ByFi Account.
2. The default currency is USDT. Currently, only payments in USDT are supported.
3. Enter the amount you want to transfer and click “Confirm”.
After the fund transfer operation is completed, you can return to the product page to make a purchase.
- You can also click “Buy Now” to purchase the product directly. For example, select a product with a service duration of 5 days and an Annualized Percentage Yield of 20% to 25%.
You will be brought to the product details page. Click “Buy Now”.
If the balance in your account is insufficient, you only need to click “Transfer” to proceed with the steps to top up your ByFi account.
After the funds are successfully transferred, return to the Product Details page and click “Buy Now” once more.
Please confirm the order information and click “Purchase”.
The order has been successfully purchased!
After you click “OK”, the page will automatically redirect to the Order page for you to view the order details.
Frequently Asked Questions (FAQ)
What are the differences between spot trading and contracts trading?
Trading spot is a bit different than contracts trading, as you do actually need to own the underlying asset. Crypto spot trading requires traders to purchase a crypto, such as Bitcoin, and hold it until the value increases, or use it to buy other altcoins that they think may rise in value.
In the crypto derivatives market, investors do not own the actual crypto. Rather, they trade based on speculation of the crypto market price. Traders can choose to go long if they expect the value of the asset to rise, or they can go short if the value of the asset is expected to fall.
All transactions are done on contract, so there is no need to purchase or sell any actual assets.
What is Maker/Taker?
Traders preset the quantity and order price and place the order into the order book. The order waits in the order book to be matched, thus increasing the market depth. This is known as a maker, which provides liquidity for other traders.
A taker occurs when an order is executed instantly against an existing order in the order book, thus decreasing the market depth.
What is the Bybit spot trading fee?
Bybit charges Taker and Maker a 0.1% trading fee.
What are Market Order, Limit Order and Conditional Order?
Bybit provides three different order types — Market Order, Limit Order, and Conditional Order — to meet the various needs of traders.
Traders are able to set the order quantity, but not the order price. The order will be filled immediately at the best available price in the order book.
Filled at the best available price.
— Base currency (USDT) for Buy Order
— Quote currency for Sell Order
Traders are able to set both the order quantity and order price. When the last traded price reaches the set order limit price, the order will be executed.
Filled at the limit price or best available price.
— Quote currency for Buy and Sell Order
Once the last traded price meets the preset trigger price, a conditional market and conditional taker limit order will be filled immediately, while a conditional maker limit order will be submitted to the order book once triggered to be filled pending execution.
Filled at the limit price or best available price.
— Base currency (USDT) for Market Buy Order
— Quote currency for Limit Buy Order and Market/Limit Sell Order
Why cant I enter the quantity of cryptocurrency that I wish to purchase when using Market Buy Orders?
Market Buy Orders are filled with the best available price in the order book. It’s more accurate for traders to fill in the amount of assets (USDT) they wish to use to purchase the cryptocurrency, instead of the amount of cryptocurrency to purchase.