The Bybit cryptocurrency exchange offers seamless fiat and cryptocurrency withdrawals, enabling users to transfer funds directly to local bank accounts. This guide provides a comprehensive walkthrough of the withdrawal process, fees, and troubleshooting tips.
Can You Withdraw From Bybit to a Bank Account?
Yes, Bybit supports direct bank withdrawals for users whose local currencies are listed on the platform. Currently, 16 fiat currencies are supported, including USD, EUR, GBP, BRL, TRY, and more.
Key Requirements:
- Your bank must process one of Bybit’s supported fiat currencies.
- Ensure KYC verification is complete.
- Payment methods vary by currency (e.g., bank transfers, P2P, or third-party services like Zen.com).
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Step-by-Step Guide to Withdraw From Bybit to Bank
Follow these steps to withdraw funds:
- Log In: Access your verified Bybit account via the app or website.
- Convert Crypto to Fiat: Navigate to
Asset → Convertto exchange crypto for fiat. - Transfer to Funding Account: Go to
Asset → Transferto move fiat to your Funding Account. Initiate Withdrawal:
- Select
Buy Crypto → Fiat Deposit → Fiat Withdrawal. - Choose currency, amount, and payment method.
- Select
- Verify & Submit: Enter 2FA codes (email/SMS/Google Authenticator) and confirm.
Processing Time: Varies by payment method (check the withdrawal page for details).
Alternative: P2P Withdrawals
If your currency isn’t supported, use Bybit P2P to sell crypto to third-party sellers for local bank deposits.
Fees & Supported Payment Methods
Below are withdrawal fees and payment options for select currencies:
| Fiat Currency | Payment Method | Fees (%) |
|---|---|---|
| USD | SWIFT | 0 |
| EUR | SEPA/Zen.com iDEAL | 0 |
| GBP | Faster Payments (FPS) | 0 |
| TRY | Bank Transfer | 0 |
| BRL | PIX | 0 |
| IDR | Local Bank Transfer | 0–0.055 |
Troubleshooting Common Issues
Why Is My Withdrawal Pending?
- Incomplete KYC.
- Bank processing delays.
- Network congestion.
What If My Withdrawal Is Declined?
- Verify account balance covers fees.
- Ensure bank details match KYC records.
- Contact Bybit Support if unresolved.
FAQs
Are There Withdrawal Fees?
Yes, fees vary by currency and payment method (see table above).
How Long Do Withdrawals Take?
Typically 1–5 business days, depending on the bank and payment method.
Can I Withdraw Crypto Directly to a Bank?
No, convert crypto to fiat first via Asset → Convert.
Final Tips
- Double-check bank details before submitting.
- Monitor transaction status under
Asset → History. - Use P2P for unsupported currencies.
Bybit simplifies withdrawals with competitive fees and multiple payment options. Ensure compliance with local regulations for smooth transactions.