This article explains how to deposit funds into the recommended cryptocurrency exchange Bybit, as well as cryptocurrency fees and procedures. Once you have created an account, you need to deposit funds to actually trade. As of 2023, there are several deposit methods, and we will explain the methods and procedures for each deposit. Please refer to this article if you are planning to start trading.
Bybit functions and exchange features
Bybit ranks high in popularity among overseas exchanges and allows you to trade popular coins such as Bitcoin, Bitcoin Cash, Litecoin, NEM, and Ethereum. Compared to bitget, bitpoint, coincheck, mexc, binance, etc., it is quite popular, especially among Japanese people. We accept legal currencies (US dollars, euros, Japanese yen, etc.), debit cards, credit cards (VISA), convenience stores, and virtual currencies. It’s a good deal because you can tap and deposit money right away on the app without any problems. You can see details from the home page.
Fully equipped with security measures
Bybit’s identity verification KYC level is also quite reliable as it has a facial recognition function. There is two-factor authentication, and you can set a password for peace of mind. There has never been a hacking incident to date. The official website supports deposit and withdrawal methods, and with Ripple, etc., you can remit money securely as long as you enter the tag properly. If you have any trouble, the support center will assist you.
maximum leverage is high
The maximum leverage is 100x to 200x, which is the highest leverage among virtual currency exchanges. Compatible with smartphone apps and web browsers. Basically, it supports spot trading and futures trading. The server is also stable enough and there are no problems with trading.
Limited time bonuses and campaigns
There are limited time events and regular events. Check out the latest news and more. There are more latest bonuses and campaigns than Coincheck, GMO, Bitflyer, etc., and by holding a few tokens, you can get new altcoin airdrops. The official website has a unique system in place, provides fast customer service, and handles important coins. You can rest assured that you can conduct transactions in many regions around the world. You can participate right away by preparing your computer or smartphone. The content is easy to use even for beginners. The point is that there are many benefits.
Bybit Deposit Methods
Bybit deposit methods are as follows.
Virtual currency deposit
It is a method of depositing to Bybit from another exchange or personal wallet. Remittances in virtual currency are often used, so if you are a frequent cryptocurrency trader, you will have no resistance. I think it will become common to convert fiat currency to virtual currency at some exchange and transfer the converted funds to Bybit.
credit card deposit
There is a way to pay with a credit card. This will be a means of depositing fiat currency. Originally, Bybit could not accept card deposits without going through an external payment service. However, after 2022, currency purchases can be made directly on the Bybit site, making it very convenient to use the service.
P2P trading
P2P trading is the buying and selling of cryptocurrencies between users. This will be an exchange after confirming the brand, rate, and payment method presented by the seller and agreeing. The selling price may be set clearly higher than the market price, so it is also a deposit method that requires attention.
Fiat currency deposit
We accept deposits from US banks or any other country that has a Swift code. In the case of bank transfer, it will take time because it depends on the business day of the bank. Deposits can only be processed on weekdays.
Virtual currency deposit procedure
The above is the main method of depositing virtual currency, but I will explain each one by one. Please log in first. If you haven’t opened an account yet, please do so below.
At the top of My Page, there is a button that says “Purchase crypto assets”, so click this.
Virtual currency deposit
Click “Deposit crypto assets”. After that, the following screen will appear, so select the brand and chain type you want to deposit. Read the notes and click OK. The chain type must match between the source and destination. When sending from an exchange wallet, please check the blockchain specified by the exchange.
Next, copy the deposit address under the QR code. If the source wallet has a reading function, try entering the address.
The next step is to enter it on the source cryptocurrency exchange platform. This is the end of the procedure. When the payment is completed, an email will be sent to the registered address.
The currencies that can be deposited in virtual currency are limited. Please note that there are 9 types: BTC, ETH, XRP, USDT, EOS, DOGE, DOT, LTC, and XLM, and they are limited. Also, be sure to copy the remittance address exactly and paste it into the source exchange. If you make a mistake, in the worst case scenario, you may lose the remittance amount, which is a risk.
credit card deposit
Click “One-Click Purchase”. After that, the following screen will appear, so enter the amount to be deposited in the payment field and select “Credit Card” as the payment method. Click Add card.
Payment: Enter payment amount and select payment currency
Receipt: Specify the amount to be received after applying the exchange rate and the virtual currency to be received
Payment method: Select “Credit Card” here
Confirm or enter your email address, tick the checkbox, and click Continue.
Email: Enter your registered email address
Name: Enter your first name
Surname: Enter your gender
Card number: Enter your credit card number
Expiration Date: Enter the expiration date of the credit card
CVV/CVC: Enter credit card security code
A small deposit is made for card verification. This deposit amount will be refunded after the authentication is completed, so it will not be an actual burden. When the message “Card authentication completed” is displayed, click “Continue”.
Once the card is registered, you can actually make a deposit. Please enter again from the purchase screen and click purchase. A confirmation screen will appear showing the amount of the payment. Then enter the security code (CVV/CVC) and click the “Validate card & proceed” button, and the credit card payment will be completed as “Transaction complete” will be displayed.
Deposit for P2P transactions
Click “P2P Trading”. After that, the following screen will appear, so please buy and sell virtual currency between users. Check the brand, rate, and payment method offered by the seller, and make sure you are satisfied with the transaction.
| commission | Some payment providers require payment of a fee. |
| Time required for remittance | Depending on the seller, the transaction will be unsuccessful. It usually takes about 30 minutes. |
| safety | Please be aware that there may be scams such as billing fees and directing to external sites. |
Fiat currency deposit
Click Fiat Deposit. It will be a screen like the one below, but we only accept transfers from bank accounts in the United States. Therefore, please note that those who do not have a bank account in the United States cannot make a transfer.
Amount: Specify the deposit amount in fiat currency
Payment method: Select bank transfer in the United States or bank transfer from other countries
Deposit reflection time
Please note that the payment reflection time varies considerably depending on each method. If you want to pay quickly, a credit card is the way to go. In the case of virtual currency deposits, it depends on the virtual currency exchange from which the remittance is made. In addition, bank transfers are not transparent as they depend on the business days and hours of the bank.
| Credit Card | Immidiate |
| Virtual currency remittance | ～3 hour |
| P2P | ～30 min |
When deposits are not reflected
In the unlikely event that your deposit is not reflected, we will introduce what to do. You can do it yourself using tools on your mobile phone, but there are some things to be careful of. To do the best derivatives and staking, or to make investments, you will need to submit a driver’s license or passport.
Check deposit history
If you feel that your deposit is taking a long time to be reflected, check your deposit history. On the deposit screen, you can view your deposit history from your browser. If there is no information in the deposit history, it means that the information has not yet arrived from the exchange from which you sent the money. Please wait for a while. It is easy to do, so it is easy to set up. If the money has not arrived, you can send an image to the operator to check the situation. The company also has two-step authentication, and the network and security are perfect.
Check remittance status
If you feel that your deposit is taking a long time to be reflected or that it has not arrived, check the history of the exchange from which you sent the money in advance. Bybit cannot receive the money until the transfer has started at the exchange from which you sent the money. If there is a history of an unconfirmed transaction, it is a good idea to ask the support center. Travel rules are also applied, making tracking easy. These last steps should help you understand how to manage your money properly.
Contact support
If you wait forever and there is no response, you may want to contact the support center. Our support center supports many languages, so we can provide support in most languages. Please refer to the article below as it is introduced.
deposit bonus
Bybit has campaigns that are held all the time and events that are held from time to time. Let’s take a look at the official page. In the past, there was a deposit bonus, so you may be given a bonus when you deposit. Security is high, and you can invest in different stocks without restrictions. Many coins are offered in Japan. You will need to submit documents when you start, so prepare your ID. When you start, you can access and see the major coins first.
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