How to Sign Up For Bybit: Complete Guide!
Bybit is a cryptocurrency exchange that provides a professional platform with an ultra-fast matching engine, quality customer service, and multilingual community support for traders of all levels. Bybit operates a safe, secure, transparent, and efficient futures trading platform with over 10 million users worldwide and offers more than 230 perpetual and futures contracts.
For crypto newbies, finding the right exchange to sign up for and then actually going through the process for the first time can be confusing and challenging.
This article serves as a detailed guide to help you sign up for Bybit, the innovative and rapidly growing cryptocurrency exchange. Regardless of your experience level in crypto trading, Bybit is a solid choice for traders both new and experienced who are looking for strong security and a reliable platform for trading cryptocurrencies.
While the crypto industry hosts numerous exchanges, not all of them offer secure or reputable services. In contrast, Bybit enjoys a stellar reputation and boasts millions of users engaged in Bitcoin (BTC) and various other cryptocurrency trading activities.
Bybit Key Features:
- Great Selection of Tradeable Assets- Bybit offers a wide range of trading instruments including derivatives, spot, and instant buy crypto features.
- Professional Grade Trading & Matching Engine- Bybit is known for its ultra-fast matching engine and instant trade execution.
- Multilingual Support- Bybit offers good customer support, available in multiple languages.
- NFT Marketplace
- Fiat Withdrawals
- Crypto Card
Without further ado, let's proceed with the account registration process on Bybit.
Note: Users located in the US and UK are not supported.
What is Bybit?
Based in Dubai, Bybit is a cryptocurrency and derivatives trading exchange launched in 2018. Today, Bybit has grown into one of the top exchanges that provides users with access to a wide range of services, including trading bots, lending, institutional services, copy trading, and a crypto earn product, among other things.
The exchange has more than 270 assets in the spot market and over 200 contracts in the derivatives market. Bybit has over 15 million users, and it is available in 160 countries.
Bybit allows users to trade with up to 100x leverage on select assets. As you're probably aware, leverage can be extremely risky. This is why Bybit has certain tools in place to contain the downside potential of a trade. Some of the tools include Bybit’s insurance fund, auto deleveraging and cross and isolated margin accounts, among other things. We highly recommend ensuring you understand the risks of leverage trading before participating.
As this article is only a guide to signing up for Bybit, if you want to learn more about the platform and products it offers, head over to our in-depth Bybit review.
If you want to see how Bybit stacks up against other exchanges, check out our comparison pieces:
Understanding Bybit's KYC Requirements
Know your customer (KYC) standards, or identity verification in plain English, are a central feature of centralized exchanges like Bybit. Completing the KYC process allows you to use all Bybit products and services.
Bybit has two individual KYC levels.
- Level 1: This is mandatory for anyone looking to use Bybit products and services. Benefits include a daily withdrawal limit of ≤1 million USDT. However, you can't get your hands on the Bybit Card.
- Level 2: Not only do you get access to the Bybit Card, but your daily withdrawal limit also increases to ≤2 million USDT.
Both levels allow you to withdraw fiat.
Why is KYC Important?
There are a host of benefits that entail identity verification on Bybit:
- From Bybit's perspective, KYC ensures it remains in compliance with regulatory requirements.
- It helps prevent illegal activities and detects suspicious behaviour as early as possible.
- Users who complete individual KYC can enjoy Bybit's fiat services and earn products, and unlock higher limits for daily withdrawal.
- You get access to exclusive promotions and events, such as Launchpads.
- In the case of lost credentials to access the platform, a KYC-verified account provides a simpler process to help you recover your account.
For more information, you can check out Bybit's dedicated page that lists the benefits of different KYC levels.
How to Create a Bybit Account on Desktop
There are two ways to create a Bybit account — through your email address or your mobile phone number, whichever is more convenient.
Step 1: On the main homepage, click the “Sign up” button on the top right corner.
Step 2: Choose how you'd like to sign up: via email or mobile. Then, input the necessary details accordingly. If you have a referral code, you can fill it out. Otherwise, you can just leave it blank.
Feel free to use our sign-up link and get up to a $40,000 bonus and enjoy 0% Maker fees for 30 days.
Step 4: A window that shows a list of restricted countries and regions will pop up. If you’re not from any of the countries listed, click on “No” to continue.
Step 5: Complete the reCAPTCHA verification and enter the verification code, If you signed up via email, the code will be sent to your email address. It would be wise to check your spam/junk folder if the email doesn't show up in your inbox. If you used your mobile number to sign up, you’ll receive an SMS code.
Once you input the code, you'll get access to the Bybit platform.
How to Create a Bybit Account on Mobile
I'll keep this one short because the sign-up process on mobile is more or less the same as the one on a browser, except for the first few steps, which I'll illustrate here.
Once you've downloaded the app, navigate to “Assets” in the bottom-right corner and then hit “Sign up.”
The rest of the sign-up process looks exactly the same — you choose how you'd like to sign up (via email or mobile), complete the reCAPTCHA verification and input the verification code.
How to Complete Bybit KYC
As noted, identity verification is an important aspect of using Bybit, one that unlocks the platform's full features.
Depending on your country of residence, the identity verification process can look a little different, as Bybit highlights a few examples in this table.
Here's a step-by-step guide for both desktop and mobile.
Desktop (web browser): Level 1 KYC
Step 1: Click on the profile icon in the upper right corner of the navigation bar, then click “Account & Security.”
Step 2: Click on “Verify Now, which can be found under the “Identity Verification” tab (under Account Info) to enter the identity verification page.
Step 3: Click on “Verify Now” under “Lv. 1” to start the process of verifying your identity.
Step 4: Select the country or region that issued your ID, and your identity document type to upload proof of identity document(s). Click “Next” to continue.
Step 5: Complete your facial recognition scan through your laptop's camera.
Step 6: Click “Next” to submit the material.
Desktop (web browser): Level 2 KYC
Reaching Level 2, which opens up higher fiat deposit and coin withdrawal limits, is fairly straightforward.
Simply choose “Lv. 2” in “Step 3” above and upload the required documents. It's important to note that Bybit only accepts proof of address documents such as utility bills, bank statements and residential proof issued by your government. These documents, the exchange says, shouldn't be more than three months old or else they will be inadmissible.
Bybit Mobile KYC
Step 1: Click on the profile icon in the upper left corner, then tap on “Identity Verification” to enter the KYC verification page.
Step 2: Click “Verify Now” to start the process, and select your nationality and country of residence.
Step 3: Click “Next” to submit your identity document and selfie.
A “Level 2” KYC on mobile works the same as the desktop version.
How to Sign Up For Bybit: Closing Thoughts
And there you have it, a step-by-step guide on how to sign up for Bybit. We hope you found this article helpful in guiding you towards the next step of your crypto journey. Bybit is a fantastic exchange and they make the sign-up process fairly simple.
Bybit is one of the most trusted cryptocurrency exchange platforms today. You can create professional trading strategies by following other users, earn yield from its "Earn" products, and automate trading by setting up crypto trading bots and more.
Frequently Asked Questions
In most cases, the Bybit KYC verification process takes about 15 minutes. However, due to the complexity of information verification, KYC verification can take as much as 48 hours.
The information Bybit collects from you isn't shared or repurposed for any marketing; its main purpose is solely to verify your identity.
You can sign up with Bybit via your email address or your mobile phone number, whichever is more convenient for you.
No, starting May 8, 2023, Bybit made it mandatory for all users to complete its Level 1 verification.
An individual who has completed Level 1 KYC has a withdrawal limit of ≤ 1 million USDT, while that for Level 2 is ≤ 2 million USDT. VIP levels have even higher limits, as Bybit highlights in a neat table.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.