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 or fiat currency.
Click on “Assets” at the top right-hand corner of the Bybit home page.
You will be directed to the Assets page under Spot Account. Then, click “Deposit” in the column of the currency you want to deposit.
For traders using Bybit’s app, please 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.
Currently, Bybit accepts only BTC, ETH, XRP, EOS and USDT 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 type.
Note: 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 derivatives account. For accounts registered after July 15, 2021, funds will be deposited to the spot account.
To change your default deposit account, you can set it up in the following two (2) ways.
Set via 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”
Set Via App:
1. Click “Settings” on the deposit page to set whether to auto transfer of funds to derivatives account, or
2. Head to the general settings page under “General”
— 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 your UID as a “Memo”. Otherwise, the deposit will not be successful. Please note that your memo is your UID on Bybit.
For XRP deposit:
How to Deposit XRP
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.
Based on the miner fees you pay and the transaction amount on the blockchain network, it usually takes about 10 minutes for your deposit to reach your Bybit account.
Once the deposit is completed, please go to the asset page to view your transaction.
No minimum deposit is required.
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: Banxa, XanPool, MoonPay, Mercuryo, E-check and Simplex.
Let’s get started.
Please click “Buy Crypto” on the left side of the navigation bar to enter the Fiat Gateway deposit page. In the “Fiat Gateway” column on the left side of the page, start your fiat currency deposit process.
Step 1: Select the fiat currency you want to pay. Click on “USD” and the drop-down menu will appear.
Currently, the 59 fiat currencies supported include AUD, BGN, BRL, CAD, CHF, COP, CZK, DKK, DOP, EGP, EUR, GBP, HKD, HRK, IDR, ILS, INR, JOD, JPY, KES, KRW, 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. Taking USD as an example, the minimum purchase amount is $20 and the maximum purchase amount is $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
- Estimated amount of convertible cryptocurrency
- Supported payment methods and “Buy” button
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 make sure that 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.
- If you are a first-time user, you first need to create an account, and then complete the KYC verification.
After successfully depositing fiat currency into Bybit, you can click on “History” to view historical transaction records.
No minimum deposit is required.