Bybit: card deposit

Bybit – that cryptocurrency exchange which only supports input and output cryptocurrencies. But if the client does not have cryptocurrency, he can buy it with a bank card through the payment service. Go to the purchase service with the “Buy cryptocurrency” button at the top left of the site bybit.com platform.

In the purchase service you need to choose how much money you plan to spend, how much will be received as a result of the purchase. In the drop-down menu “I want to spend” choose fiat currency, enter the required amount within the specified limits.

Today the customer can buy USDT, ETH, BTC. Information about how much cryptocurrency the client will receive for the selected amount is on the right side in the “Payment Details” table.

To deposit via gateway client goes to third-party site, crypto-exchange is not responsible for his further actions, so it’s necessary to sign Bybit disclaimer agreement, if client agrees with it. The agreement also states that presented gateways are not recommended by crypto-exchange.

On the left side of the service there is a section “Choose payment service” with the option “Payment method”. Visa/Mastercard/Maestro is the payment method of choice. Purchase of cryptocurrency by bank card is supported by platforms Mercuryo, Simplex, Banxa, MoonPay, Paxful. If you intend to deposit through gateways, it is better to register and verify your data in advance, as the payment system will require it when you try to conduct the first transaction.

After selecting a payment system and agreeing to the limitation of liability, you need to click on the “Continue” button. The Mercuryo site specifies the country of residence. The “Buy Crypto” section shows the details of the purchase: fiat, cryptocurrency, commission, final price. Read the Terms of Use, and if everything fits, you need to agree with them. After that, on the next page enter the email or phone address to receive notifications and click “Send code”.

The code sent to your email or phone is entered into the line on the site page. If the code is correct, then the identity is confirmed. To do this, you need to provide the payment system with a photo of your ID. During registration a user wallet is created in the payment system, and the user will receive a message on his email. When Mercuryo confirms the identity of the client, you can continue to buy cryptocurrency. At the last stage, one enters his bank card details, confirms the transaction with a code and the money is credited to his spot account at the cryptocurrency exchange.

In the service Simplex, first you enter the data of the bank card, including the CVV code, and then verification is carried out. The difficulty with this payment system is that it is not translated into Russian. When sending documents, you will need to translate the information into English, and photos of documents are only uploaded in JPG format.

When entering the Banxa service, a payment order is formed by pressing the “Create order” button, the client goes to the page where the user enters the email and phone number, then to the page where the personal data is entered: first name, then full residential address, and then the page of uploading the ID card opens. And only after confirming the identity it will be possible to proceed with the cryptocurrency purchase by card.

To use the Moonpay payment service, first enter your email. Then the mail is confirmed by a code on the site. Then the data is entered: first the full name, then the address (in the line “address” the street is entered). After that, proceed to the page of uploading the photo of the document. After confirming the personal information, the client can proceed with the purchase of the cryptocurrency by card.

You should know that the final amount credited to the account from the card will differ from that calculated on Bybit and sometimes quite significantly. This is due to the dynamics of crypto value and commission, which is also related to the price of digital asset. Money from the card through the gateway arrives in the Bybit account in a few minutes, but the transaction can take about half an hour. If funds from the card are not received within 2 hours, Bybit recommends to contact the support service of the payment system for help.

Most often money doesn’t arrive due to technical reasons or because the personal data provided by the client was wrong. Bybit support service, in case the money from the card didn’t reach, provides the client with all the information about the problematic transaction, which is available on the crypto-exchange. Bybit platform has nothing to do with personal data, which is specified on payment systems’ websites, and verification in the gateway is not verification on the exchange.