What is a fiat deposit and how to use it on Bybit

Fiat refers to the regular money we use every day: euros, dollars, rubles. A fiat deposit on Bybit allows you to transfer these real funds to your account and then exchange them for cryptocurrency. It’s a convenient way to start trading crypto assets if you prefer not to use complex systems like P2P.

What are fiat currencies and what are their advantages?

Fiat currencies are government-issued monetary units (USD, EUR, CNY, etc.). Unlike other deposit methods, fiat deposits offer several benefits:

• Simplicity: You transfer money directly from your bank account to your Bybit financial account
• Versatility: You can immediately buy cryptocurrency without searching for counterparties
• Transparency: Fees and processing times are clearly visible for each method

After completing the transfer, the fiat funds appear in the “Funding” section of your account, and you can use them to purchase cryptocurrencies at any time.

Supported currencies and fees

Bybit supports a wide range of deposit currencies: EUR, USD, GBP, JPY, AUD, CAD, SGD, HKD, VND, PLN, and many others. The exact list varies depending on your country.

Important to know about fees:

Each currency and payment method has its own fee percentage. You can see the exact fee amount before payment on the fiat deposit page. The system will show you the amount you will receive after deducting the fee.

Example: if you want to deposit 100 EUR via bank transfer and the fee is 2%, you will pay 102 EUR, and 100 EUR equivalent will be credited to your account.

KYC requirements and deposit limits

To deposit fiat currency, verification is required:

Required verification:

• Individual verification (Standard) — basic level
• Individual verification (Advanced) — extended features
• Corporate verification — for legal entities

Limits:

The maximum per order, daily, weekly, and monthly limits depend on your VIP status and verification level. For example:

• VIP 0 (Standard verification): max 80,000 per order, 300,000 daily, 1.5M weekly, 6M monthly
• VIP 2: max 200,000 per order, 1M daily, 5M weekly, 20M monthly
• Pro 4: max 5M per order, 10M daily, 20M weekly, 40M monthly

All limits are calculated in USD equivalent. If you plan to deposit above your limit, additional documents may be required.

Special rules for certain currencies:

• PLN via BLIK: max 850 per order and 5,000 total within the period
• VND via bank transfer: first deposit up to 25M, second and third up to 50M, then according to limits

Note: Deposits to sub-accounts are not supported.

Payment methods and deposit options

Your available methods depend on your country and service providers. Main categories:

Offline payments (pay through your bank):

• Bank transfer with recipient details and Reference ID
• QR codes (e.g., PIX in Brazil) — scan with your banking app
• Virtual accounts (VA) — a dedicated account for you (creation takes 3-5 business days)

Online payments (direct redirect to bank site):

• Internet banking — redirected to your bank’s site to enter authorization code or password
• Billing payments — enter account details and billing address
• E-wallets (QIWI, ZEN) — link your wallet to your Bybit account

Additional notes:

• Some currencies may require extra verification to unlock full limits
• If your bank isn’t listed, it means the provider doesn’t support it yet — use alternative methods
• IBAN can be identified by the first two letters (DE — Germany, FR — France, etc.)

How to make a deposit: the main rule

The payer’s details must match your KYC data on Bybit. Use your own bank account — transfers from third-party accounts will not pass verification and may be rejected.

Ensure the following match:

• Full name
• Identification numbers (if required)
• Tax ID (if applicable)

If there are discrepancies, verification may take 7-14 business days.

How to track an order and resolve issues

Where to find order information:

On the Bybit website: go to “Assets” → “Fiat Deposit Orders”. In the mobile app: “Home” → “More” → “Fiat Deposit” → tap the paper icon in the top right corner.

Order statuses and their meanings:

• “Processing” — payment is underway. If the processing time has passed and funds haven’t arrived, but your account was debited, wait another 3 business days. If status remains unchanged, contact support.

• “Deposit Processing” — additional info needed. Check your email for instructions. Or go to the order page and click the red question mark to upload documents.

• “Refund Processing” — refund required. Go to the order page, find “Refund Processing” and click “Send”. Refunds typically take 7-14 business days.

• “Error” — something went wrong. Contact support with your order number.

If processing time is exceeded:

For EUR deposits via SEPA: click “Appeal” on the payment info page or in chat window. For other currencies/methods, use the support form and send required documents. Requests are reviewed within 48 hours.

Check appeal status in the Support Center. SEPA users also see updates in the chat window.

Why is my deposit frozen?

Risk management may review the transaction for security. You will receive an email explanation. The review usually takes up to 48 hours.

Can I cancel an order?

You cannot cancel a deposit order via Bybit. But you can try contacting your bank to cancel the payment if it hasn’t been processed yet.

Important clarifications

About bank accounts:

One payment account can only be linked to one Bybit account. If you need a new account, use a different payment account.

About Tax ID:

You can remove your Tax ID in the User Center. On the website: select the ID and click “Delete”, then complete security verification. In the app: “Fiat Deposit” → ellipsis → “Payment Method” → select ID → “Delete”.

Fiat deposits on Bybit are a reliable way to quickly fund your account and start trading cryptocurrencies. Just remember to follow verification rules and deposit from your own accounts.