Bybit is a cryptocurrency exchange where users make transactions with digital assets. One of these is the payment of funds to bank details. There are several options on how to withdraw money from Bibyt to card via P2P and alternative methods. They have different offers and terms of cooperation, including commissions and minimum deposits. Before using a particular method, you need to familiarize yourself with its nuances and features.
How to withdraw money from the Bybit exchange to the card
The platform offers several options for transferring funds. Withdraw fiat from the crypto exchange Bybit to the card can be done using P2P trading, exchangers or payment systems. Each option implies specific conditions of the transaction. The platform also supports its own physical and virtual cards.
Via P2P.
Peer-to-peer (P2P) is a method to withdraw through the sale of cryptocurrency. The Bybit exchange supports funding to Russian or foreign bank accounts, YouMoney, PAYEER and Advcash. The algorithm of work in P2P is quite simple:
- Pass basic KYC verification, choose a payment method.
- Go to the “Buy Cryptocurrency” section.
- Open the “P2P trading” tab.
- Go to the “Sell” section.
- Select an order (you can use filters).
- Click on the “Sell” button and specify the amount.
- Confirm the action by clicking on “Sell”.
Within 15 minutes, the fiat should arrive at the specified details. Before finalizing the transaction, you should make sure that the funds are fully received. If all is well – click on the “Transfer” button.
With the help of transfer
Withdrawal of funds from Baybit to the card is possible in several currencies. The operation is carried out in the “Assets” window, then – in the “Financing” tab. In the “Fiat” section, you need to click on the “Withdraw” button and specify the currency:
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- TRY
- USD
- BRL
- KZT
- UAH
- GBP
- VND
- EUR
Before carrying out an operation you need to make sure that the currencies are available. Some of the specified units may be restricted by the site.
Through exchangers
A crypto-exchanger is an intermediary that helps convert digital currency into money, for example, into euros. The platform does not require direct participation in trading, but provides a fixed rate.
In the exchanger you need to specify the amount in cryptocurrency, enter the details of the carrier or wallet. The platform will provide an address for payment.
On the website of the exchange in the “Withdraw” section, users specify the amount and the details of the exchanger. After confirming the payment on the official platform, it also needs to be fixed in the intermediary service. The time of receipt is 15-30 minutes, depending on the load.
With the help of payment systems
Another relevant way to withdraw USDT from Bybit or rubles to a card. Payment systems are platforms for working with cryptocurrency assets, which help to conduct transactions for exchange, replenishment or purchase and sale. The most popular EPSs are:
- Capitalist
- Advcash
- PAYEER
On all sites, you need to specify the currency, for example, dollars. The site will immediately show how much the user will receive for the sale of coins at the current rate.
To transfer, you need to copy the wallet address and specify it in the “Withdraw” tab. The time for the operation is limited. On average it is 15-30 minutes. If you do not manage to make the transaction within the specified period, the transaction will not be considered completed.
After replenishing the electronic payment system, the money can be transferred to a bank account or wallet. When using PAYEER or Capitalist services, digital assets must be converted to fiat in the “Currency Exchange” section.
Fees
Fees depend on the selected coin and network. They can be viewed in the transaction window. The commission is fixed regardless of the transaction amount.
There are no fees for P2P trading.
The commission may be when transferring through a payment company or a bank operator on the recipient’s side. Exchangers have their own collection policy. Usually, write-offs on third-party services are indicated in the transaction window.
Features of withdrawing funds from Bybit to cryptocurrency cards
The exchange supports different transfer options – through P2P, exchangers and payment systems. A comparative analysis – in the table.
| Type of exchange | Commissions | Number of cryptocurrencies | Security |
|---|---|---|---|
The exchange supports P2P trading and regulates user activity. This is a more favorable option, as it does not require commissions, but is made in a greater number of actions. Intermediary services are more convenient. They carry out most of the work autonomously, but take a fee for their services.
With the help of the above methods, you can transfer funds to a cryptocurrency card. Virtual or tangible media are provided by the companies to whose account the money will be transferred. In 2023, the cryptocurrency exchange released its product – Bybit Card. It is a debit card from Mastercard that works in more than 90 million merchant locations.
FAQ
📢 How long does it take to withdraw funds?
The transaction takes between 15-30 minutes.
📌 Can I withdraw money without verification?
Yes, with restrictions. For example, withdrawal at VIP 1 level without verification – up to 100 000 USDT per month, after passing – no more than 6 million USDT per day.
⚡ How does the exchange work in Russia?
Visitors from the Russian Federation have full access to all services of the trading platform (except for a number of territories). The company has strengthened its control policy in relation to users. As CEO Ben Zhou said, “Bybit vets Russian clients and adheres to strict sanctions regulations.”
💳 What is the minimum deposit or withdrawal?
You can see the amount limits when you make a transaction (in the right window). Bybit adjusts the minimum limits according to the account level: for example, with VIP 0 status without KYC verification, withdrawal of up to 20,000 USD per day is available.
✨ How to reduce the commission?
The exchange offers VIP levels with individual conditions within the platform and when trading.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
