Yes, Bybit requires full KYC verification. Without identity verification, you can not use Bybit services. If you want to trade, deposit, and withdraw on Bybit, you must verify your identity by providing personal information. Mandatory KYC was introduced on Bybit in the summer of 2023.
Bybit KYC Requirements
In order to verify your identity on Bybit, you must submit personal information, including government-issued documents and proof of residence. Higher KYC levels ensure higher withdrawal limits.
There are two KYC levels on Bybit.
Level 1 KYC
The requirements for the first KYC level are the following details:
- Personal information
- Government-issued ID
- Facial recognition (Liveness Check)
Level 2 KYC
The requirements for the second KYC level are as follows:
- Proof of address
For proof of address, you may use a utility bill, tax bill, phone line bill, or bank statement no older than three months.
Bybit Withdrawal Limits
The daily withdrawal limits on Bybit vary based on your identification level. Higher identification levels result in higher withdrawal limits.
Refer to the table below for further information. The crypto limits apply for a 24-hour duration, while fiat limits apply for a monthly duration.
| KYC Level | Crypto Withdrawal Limit | Fiat Withdrawal Limit |
|---|---|---|
| Unverified | $0 | $0 |
| KYC 1 | $1,000,000 | $5,000 |
| KYC 2 | $2,000,000 | $100,000 |
Check out this Bybit article for further information about fiat withdrawal limits.
FAQ
Does Bybit require KYC?
Yes, Bybit requires KYC verification. That means you must go through the identification process; otherwise, you can not use Bybit products and services.
Is Bybit legit?
Bybit is one of the largest crypto exchanges, with over 40 million users. While Bybit appears to be a legitimate crypto exchange, we recommend storing your funds in your personal hardware wallet. Not your keys, not your cryptos.
Is Bybit available in the United States?
No, Bybit is not allowed in the United States at all.
