At the cryptocurrency exchange Bybit, you can stake coins, trade futures, and trade spot products, and you can withdraw the assets you earn in the market in a safe manner and convert them into fiat currency, or you can invest in other stocks. However, there are many problems with other cryptocurrency exchanges, such as withdrawal refusals. What about Bybit?
Withdrawal refusal
Bybit does not have the concept of withdrawal refusal, so you will not be unable to withdraw without a reason. In the case of unknown cryptocurrency exchanges, withdrawal refusal may occur, but Bybit has been in business for over five years and has one of the largest user bases in the world. Therefore, there is no risk of someone running away with your money like an unknown exchange. So why can’t you withdraw? It’s possible that you have violated the terms and conditions or have not followed the withdrawal rules. This is the same for other companies such as BitFlyer. If you’re not careful, your account may be locked.
Withdrawal history status
You can check whether your withdrawal has been rejected by checking the status page of your withdrawal history in your account. When making a withdrawal, we recommend that you submit additional KYC authentication to remove any limits or restrictions. It doesn’t take much time. We also recommend two-factor authentication. When withdrawing the maximum amount, you should at least complete the above authentication. If you use paypay, you will need to create an account with paypay.
| Email confirmation pending | Waiting for payment confirmation email |
| Validation pending | Waiting for withdrawal processing |
| Transfer pending | pending submission to blockchain |
| Remittance completed | Successfully withdraw assets |
| Confirmation email expired | Withdrawal confirmation email expired |
| Rejected | Rejecting a withdrawal request |
| canceled | canceled by user |
Bybit Withdrawal Notes
If you cannot withdraw money with Bybit, please note the following points. Also, when transferring funds, it will always go through your wallet, so be sure to check the settings. Withdrawals always take several hours, and there may be delays depending on blockchain transaction processing, so please wait at least a day. The workaround is explained below. It is a highly recommended exchange as it supports spot trading and futures trading.
There are many currencies supported
Bybit handles a wide variety of currencies, including major altcoins such as BTC, XRP, USDT, and EOS. Although it is very convenient to send money using Bitcoin, you can also request and confirm withdrawals using other coins. However, in the case of Ripple, do not forget to enter the destination tag.
There are fewer problems among overseas exchanges.
We recommend using Bybit as it has fewer problems with withdrawals compared to other exchanges overseas. There are not many problems compared to binance etc. Bybit can be operated using an app or a computer browser. If you wish to withdraw money, be sure to have sufficient KYC.
Do not enter the wrong wallet address
When sending money, enter the destination wallet address and code, but please check the readiness and copy and paste correctly. If you don’t do the right thing, you could lose money depending on when you start. Please check the frequently asked questions regarding management.
Why can’t I withdraw money and how to fix it
So what are the reasons why you can’t withdraw your money? The reasons for this are as follows. If any of the causes apply, please take immediate action. If you are unsure, please contact support from the official website administration screen for more information. You can easily listen with just one button. If you contact us, you will receive an answer immediately.
withdrawal limit
Bybit has a withdrawal limit, and there is a limit to the withdrawal amount depending on the identity verification level. In other words, if you make a withdrawal that exceeds the limit, it will be rejected. This is also summarized in the following article on how to verify your identity, so please refer to it.
Withdraw from Derivatives Account
You can only withdraw cryptocurrencies in your physical account from Bybit. Derivative account money cannot be withdrawn. Therefore, if you want to withdraw the virtual currency in the derivative account, you can do so by transferring it to the physical account and then withdrawing it.
Change personal information
If the user’s registered e-mail address or phone number changes, withdrawal may not be possible. If you change your registered phone number, email address, or password, withdrawals will be restricted for 24 hours. Since the system does not allow withdrawals while withdrawal restrictions are in place, you must change your personal information.
Bonus cannot be withdrawn
Bybit has various bonus campaigns, so some people trade with bonuses, but bonuses cannot be withdrawn. Bonuses can only be used when trading and cannot be cashed out.
Wrong withdrawal address
With Bybit, you can withdraw virtual currency, but if you make a withdrawal request with the wrong exchange address, you will not be able to withdraw. In the case of virtual currency, there is a possibility that the assets that have been withdrawn have disappeared. In this case, please contact customer support. Also, depending on the virtual currency, you may need to enter a tag.
transaction
If it’s not rejected but takes a long time, it may be a problem with the transaction. Naturally, if it’s crowded, processing will be delayed, so you’ll have no choice but to wait. Even if the address is correct, it will take some time, so please wait at least a few minutes while checking the history. The fee remains the same no matter how long it takes.
Immediate reflection
Withdrawal processing is basically processed by Bybit so that it will be reflected immediately, but if the destination virtual currency exchange is closed, the processing will naturally be delayed. There is nothing you can do about this, but in most cases it will be reflected in about an hour. It may take longer depending on network congestion.
Check withdrawal history
If you are unsure whether your money was actually withdrawn, please log in and check your withdrawal history. After logging in, select “Withdrawal” from “Assets” at the top of the home screen. This is an advantage because you can check valid withdrawal details in different cases, such as legal currency (Japanese yen, dollar, euro, etc.), credit card, virtual currency remittance. You can also check it using a smartphone app.
The screen below will appear, allowing you to see the type and history of each new deposit and withdrawal. If the transfer from your wallet address does not work, the reason will be explained in the upper right corner. Withdrawals are possible to banks and credit cards, and can also be made separately to domestic cryptocurrency exchanges such as GMO. By tapping, you can also refer to and view your own past exchange procedures from the platform. The system is also quite comprehensive in terms of security and functions.
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