Once you create an account on Bybit, you will need to make a deposit through transactions, but the procedure and method supports various deposit methods such as virtual currency deposit, bank transfer, credit card, etc. However, there are times when you cannot make an overpayment. There is a reason for this, so please refer to this article.
Is Bybit a dangerous company?
Is Bybit a dangerous company? Some people may have this perception. It can’t be helped that many people think this way because there are many scams in virtual currency, but Bybit is one of the major exchanges in the world. Therefore, it can be said that it is a relatively reliable company. Regarding the company, please refer to the information in the article on the following page. You can also trade by tapping on the app, so there aren’t many exchanges that do it better than this.
Top rank among exchanges
Bybit has the highest popularity ranking among overseas crypto asset exchanges. It is also popular compared to bitflyer, bitpoint, binance, coincheck, mexc, gmo, etc. There are plenty of campaigns and bonuses, and events are always being held. The screen is easy to operate, and clicking and selecting can be done intuitively. It covers all major coins such as Ethereum and Bitcoin, so you will have no trouble trading. You can trade using a smartphone app or a web browser on your computer. The support center will also teach you how to use it.
There are many coins available
Bybit is convenient because it covers all the main altcoins such as BTC, XRP, ETH, USDT, and EOS. The maximum leverage is 200x, the spread is narrow, and many new users come. Limited-time events have different benefits, but many users participate. It also supports spot trading and futures trading. Please see the official website for details.
Supports various deposit and withdrawal methods
Bybit’s official website supports a variety of deposit and withdrawal methods and payment types. We accept credit cards (Mastercard, VISA), legal currencies (dollars, Japanese yen, euros, etc.), and virtual currencies. The virtual currency remittance procedure can be easily done by scanning the QR code or copy-pasting the wallet address. Receipt is smooth and you can freely set the amount. A card is recommended.
Perfect security measures
Bybit has strict security measures. A cold wallet is used to reduce risk. I’ve never had any trouble. It supports two-step authentication and also supports SMS authentication. There are no external problems with network or server access. Bybit is probably the only one that has the latest security in place and has such a high level of security. Let’s set up kyc now.
Payment method
First, please refer to the article below for details on how to make a deposit. The official website also has guides and FAQs for each category. If a problem occurs, you can contact the vendor’s support from the menu in the upper right corner, so if you have any questions, get answers.
Deposit rules
Bybit has the following rules regarding deposits.
no fees
No matter what deposit method you use, Bybit is basically free of fees. The only fees incurred are those of the source exchange. In the case of credit card or bank transfer, the company will charge a fee.
Minimum deposit amount
Bybit has restrictions on withdrawals, but there is no minimum deposit amount regardless of the deposit method. You can deposit even a small amount. However, in the case of virtual currency deposits, the minimum withdrawal amount is often set by the source exchange. Please check the rules of the exchange you are sending money from.
Payment is possible without identity verification
With Bybit, if you do not verify your identity when withdrawing, the withdrawal amount will be limited. However, in the case of deposits, even identity verification is not required. There is an advantage that you can start trading without identity verification documents or address verification documents.
Why can’t I make a deposit and how to fix it
Based on the above rules, we will describe the measures below if you cannot make a deposit. Basically, the deposit is reflected immediately, but it depends on the deposit method.
Wrong remittance address
For cryptocurrency deposits, you must enter the Bybit address for the source exchange. If there is an input error at that time, it will be treated as a remittance error and the deposit cannot be processed. Depending on the currency, you may also need to enter a tag, so be sure not to make any mistakes. There is a risk of losing the virtual currency you sent.
Denied by credit card company
In the case of credit card payment, the card company may refuse payment. In this case, it is necessary to contact the card company and have it unblocked, so please contact us. In recent years, virtual currency fraud cases have occurred frequently, so many companies block them unconditionally.
transaction
You could call it transaction congestion. In this case, it is busy and all the user can do is wait. Please be patient.
For bank transfer
Bank transfers are processed only on the first working day of the bank. Banks are 100% closed on weekends and public holidays, so you will have to wait until the next business day. Credit card deposits and virtual currency deposits are recommended because it may take time.
Deposit into Derivatives Account
Withdrawals cannot be made directly from a derivatives account. However, it is possible to deposit directly into the derivatives account. You can make a direct transfer using a domestic exchange or credit card.
account hacking
Most Bybit users have two-factor authentication set up in the first place, so you may feel safe, but some may not. In that case, the account may have been hijacked by a third party. In that case, it’s a good idea to check if you can log in.
Freeze account
Users who cause nuisance, or who act in a way that places a burden on the administrator, will have their accounts frozen. If this happens, the user will not be able to log in and will absolutely be unable to process deposits and withdrawals, so please be careful.
Missing destination tag input
Some virtual currencies require tag input. Ripple is a prime example, but there are many others. If you deposit money without entering the destination tag, it will not be reflected and you may lose your money, so please check carefully before remitting money.
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