How to deposit money into my Bybit account?

To make a deposit with cryptocurrency exchange and crypto derivatives Bybit, you need to register. To start the registration, enter your e-mail address into the form on the first page of the site bybit.com. After that, the potential client goes to the page where he has to confirm his acceptance of the service’s privacy policy. The client also confirms that he is not a resident of a “banned” country, passes the captcha. On the desired page, he enters the code from the letter to be sent to his e-mail.

In mobile, registration in the Bybit system goes about the same way, but you will be prompted to generate a password automatically. A separate application is first downloaded via QR-code from the site. The application is slightly different from the browser and mobile versions of the site, but the registration algorithm is the same. Additionally, after confirming the newly created account with the code, it is offered to create a new password.

Deposit replenishment

Transactions on Bybit digital asset exchange are conducted only in crypto-assets. It is possible to fund an account on Bybit with cryptocurrency or buy coins through several fiat gateways.

Cryptocurrencies

Funding the Bybit account with digital assets is done through a spot account, which is accessed through the drop-down menu of the Assets section. However, if the user is in a derivative account, he can also deposit money into the spot account.

 

In the account, the leftmost corner shows the amount of assets in the account. Under the amount designation there are three options: “Deposit”, “Withdrawal” and “Transfer”. Deposit is activated by clicking on the “Deposit” button.

In the center appears the “Deposit” window, where you can select the desired coin. On the right side of the service window there is important information that should not be ignored. The main rule to follow when depositing to your Bybit account: always check the correct replenishment address, otherwise the funds will be irretrievably lost. Other rules relate to transactions with specific coins. When choosing a cryptocurrency to top up your account, do you need a comment for the transaction. For example, when topping up your account with EOS and XRP, the transaction must contain a comment or tag, without this information, the money will not reach you.

After selecting a crypto-asset, you need to check the network that supports the deposit transaction. And confirm the choice by clicking the button “Informed”. After that in the service window you can see the QR-code and the line with the address, to which the bitcoin will be credited, in this case. Here it is also possible to choose in which particular account the funds will be credited – spot or derivative. The address is copied and activated in the wallet from which the coin comes to Bybit. When sending coins, you should check all the information again. If everything is done correctly, the account will be credited. The amount deposited to the account will be displayed in the “Assets” section and the user will receive a notification to the email.

Fiat gateways

Crediting digital assets via fiat gateways is activated by the “Buy Cryptocurrency” button on the upper right side of the site. The “Buy Cryptocurrency” page also has a “Deposit” button, which opens the crypto deposit service. To proceed with the purchase through the gateway, you select the amount of the purchase. Transaction limit for each specific pair is indicated on the right, if the limits are met, then here is shown the calculation: how much crypto will be received for a certain amount of money. When selecting service, you should also select payment method, then in the list of payment services will be only those that support the desired payment method.

Selected service is indicated on the right, in “Payment details” section. There is also an important warning for users, which implies that if you can transfer money to Bybit via this payment service, it does not mean that the cryptocurrency recommends it. Therefore, in case of problems on the service side, it does not make sense to write to Bybit support. If this and other conditions described in the warning are satisfied, user confirms his agreement with them and clicks “Continue” button.

After that, you go to the payment system’s website. In order not to make unnecessary mistakes, it would be logical to study in advance how the selected payment system works, clarify transaction fees, ask about reviews. Some systems require registration and full verification of the client. The time to deposit funds to the client’s account on the exchange is from two minutes to half an hour, for new clients of the cryptocurrency even longer. The crypto-exchange itself does not charge any commission for depositing. The amount of deposit, which is automatically calculated in the “Details” section, may differ from the amount that will be credited to the account. This is due to market movements and commissions on the side of the payment system. As soon as the money is credited to your account on the cryptocurrency exchange, you can start spot or derivative trading.