Table of Contents
What is the history of the exchange ByBit?
Ben Zhou co-founded Bybit in 2018 and is also the CEO of the exchange. He has previously worked for XM Forex brokers as general manager for the Greater China region. Ben noticed not only the potential of crypto trading but also the factors that were lacking for a better trading experience.
Where is the ByBit exchange located?
The company is headquartered in Singapore but is widely used around the world. The platform was developed with the vision to improve the standards for crypto derivative exchanges.
Do you need to complete account verification – KYC on ByBit?
On Bybit, KYC verification is only required if you want to withdraw more than 2 BTC a day. You need not verify if you do not wish to withdraw more than 2 BTC a day. More info can be found here: Individual KYC FAQ – Bybit Official Help
What is KYC?
KYC (know your customer) guidelines ensure a secure trading experience. The guidelines require financial services to verify the customer’s identity, suitability and risk involved, which helps in reducing the risk for a particular account.
How to submit a request for verification on ByBit?
Level 1
- Click on “Account & Security,” which is located in the upper right-hand corner of the page
- Click on Account Information> Identify Verification> Verify now
- After clicking on “Verify Now,” you will need to provide certain information:
- Document issued by the country of origin (passport/ID)
- Facial recognition screening
Level 2
- Click on “Account & Security,” which is located in the upper right-hand corner of the page
- Click on Account Information> Identify Verification> Verify now
- After clicking on “Verify Now” under Lv.2 Residency Verification you will need to provide proof of residential address.
Note: You need to make sure your full name and date of birth are clearly visible on the provided document. Also, ensure that your ID has not been modified anyway and that all the details are precise. For the customer’s convenience, they can upload any file format. The KYC verification may take up to 48 hours to receive confirmation. Once all the documents are verified, you will receive an approval email.
What are the KYC limits on Bybit?
There are two levels of verification with their respective withdrawal limits, as shown in the table below.
- KYC level 0 has a daily withdrawal limit of 2BTC
- Level 1 has a daily withdrawal limit of 50 BTC
- Level 2 has a daily withdrawal limit of 100 BTC
💸 Bybit New Deposit Rewards 💸
🚀 Bybit is supercharging your trading experience with a exclusive depositors campaign! 💸
The rules:
🔹 Deposit $100, trade $500, and Bybit will reward you with a $10 bonus! 🎁
🔹 Deposit $500, trade $800, and Bybit will boost your account with a $20 bonus! 🎉
🔹 Deposit $1000, trade $2000, and Bybit will gift you a $50 bonus! 💰
🔹 Deposit $3000, trade $6000, and receive a whopping $100 bonus from Bybit! 🏆
🔹 And for our high rollers: Deposit $10,000, trade $40,000, and Bybit will top you off with a massive $350 bonus! 🚀
If you were planning to check Bybit out! You get a nice first deposit reward! But remember, trading comes with a risk and responsible trading is always your top priority.
