How to buy USDT on Bybit in rubles

In recent years, cryptocurrency has become one of the most popular investment targets for traders from Russia. However, in 2023, many exchanges introduced restrictions for residents of the Russian Federation. This created difficulties in acquiring digital assets. Baybit is a platform that still allows you to get coins using bank cards and electronic payment systems. The article will tell you how to buy USDT on Bybit for rubles.

Registering an account on Bybit

Buying cryptocurrency on the exchange is available only to authorized users. Instructions on how to register an account on Bybit:

1. Open the official website of the crypto exchange.
2. Click on the “Register” button located in the upper right corner of the interface.
3. Choose a way to log in to the profile – by e-mail or phone number.
4. Specify e-mail or mobile number.
5. Create a strong password consisting of letters of different case, numbers and special characters. The length of the combination should be at least 8 characters.
6. Insert the referral code (if any).
7. Click on the “Create an account” box.
8. Enter a one-time code from an e-mail or SMS.

The trading platform also requires traders and investors to undergo verification. This is a mandatory procedure necessary to ensure the safety of clients. The table lists the data that you need to provide to confirm your identity.

Verification application processing usually takes about 1 hour. Verification results are sent to the email address specified in the registration form.

How to buy USDT on Bybit exchange

Bybit is one of the few trading platforms that did not introduce restrictions for residents of Russia. The crypto exchange kept the ruble in the list of supported currencies and allows you to buy Tether using cards and payment systems. Stablecoin can be purchased in several ways:

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• Through the built-in P2P platform.
• With the help of fiat.
• Directly from the cards of the banks of the Russian Federation.

Buying cryptocurrency via P2P

The exchange provides customers with a built-in peer-to-peer platform. It allows you to trade cryptocurrency directly with other users without intermediaries. On such a platform, market participants can create ads to buy or sell assets, specifying preferences on price and terms of the transaction.

P2P trading has risks. The absence of intermediaries means that each participant is independently responsible for his actions and must ensure the safety and reliability of transactions.

The peer-to-peer platform supports bank cards and electronic services. Instructions on how to buy USDT on Bybit via P2P:

1. Authorize on the exchange’s website.
2. Move the mouse cursor over the “Buy Cryptocurrency” section in the top navigation menu.
3. Go to the “P2P trading” tab.
4. Set the RUB currency and select the payment system.
5. Specify the transaction amount to filter out offers with high limits.
6. Select a counterparty based on statistics and rating. Verified merchants are located at the top of the list and are marked with a yellow icon.
7. Click on the green button “Buy USDT”.
8. Enter the amount in rubles and proceed to the exchange.
9. Send money to the seller’s details.
10. Confirm the payment.

Usually the transaction takes no more than 10-15 minutes. The exact time depends on the workload of the counterparty.

Using fiat

Users can replenish the balance of the crypto exchange directly from the Advcash e-wallet. This is a popular service that works with residents of the Russian Federation and accepts Visa and Mastercard cards. Instructions on how to deposit rubles to Baybit using Advcash:

1. Open the “Deposit in fiat currency” section.
2. Enter the amount. The minimum deposit amount is 3100 rubles.
3. Click on the “Continue” button.
4. The system will redirect the user to the authorization page in the Advcash service. It is necessary to enter credentials and log in to the e-wallet account.
5. Send fiat to the balance of the exchange.

Now you can transfer rubles to USDT to Bybit. To do this, you need to perform several actions:

1. Go to the “Conversion” page.
2. In the top line, set RUB, in the bottom line – stablecoin.
3. Click on the “Exchange” button.

Fiat will be converted to Tether at the current market rate. The assets will be displayed in the wallet of the exchange.

Instant purchase

The trading platform allows you to quickly purchase cryptocurrency without wasting time choosing counterparties and setting transaction parameters. For this purpose, the “Buy in one click” function is provided. Users need to:

1. Open the appropriate section.
2. Set the direction of exchange by specifying RUB in the top line and USDT in the bottom line.
3. Select a payment method.
4. Enter the amount of exchange.
5. Click on the “Pay with RUB” box.
6. The system will redirect the user to the P2P platform. The transaction is opened automatically.
7. Send money to the details of the counterparty.

Payeer, Advcash, Raiffeisen Bank, Alfa-Bank are available in the payment methods. If another system is required, you need to switch to a peer-to-peer platform and open the transaction manually. You can find the purchased coins in the “Assets” section of the exchange’s website.

Author: Saifedean Ammous, an expert in cryptocurrency economics.