does bybit require kyc

Bybit users must undergo Know Your Customer (KYC) verification to increase daily withdrawal limits and access additional features like margin trading.

Nov 07, 2024 at 12:04 am

Does Bybit Require KYC?

1. Understanding KYC

Know Your Customer (KYC) is a regulatory requirement that obliges financial institutions to collect and verify information about their customers to prevent illegal activities such as money laundering and terrorist financing.

2. KYC Policies on Bybit

Bybit mandates KYC verification for users to access certain features and services on the platform:

• Standard account: KYC verification is optional, but users are limited to a daily withdrawal limit of 2 BTC.
• Verified account: KYC verification is required to increase the daily withdrawal limit to 100 BTC and access additional features like margin trading and subscription services.

3. KYC Verification Process on Bybit

Step 1: Access the KYC Page

• Log in to your Bybit account and navigate to the "KYC" section under "Account & Security."

Step 2: Choose Verification Level

• Select "Standard Verification" or "Verified Verification" based on your desired account level and withdrawal limits.

Step 3: Provide Personal Information

• Enter your full name, date of birth, address, and nationality.
• Upload a photo of your government-issued identity document (e.g., passport or ID card).

Step 4: Facial Recognition Verification

• Follow the instructions to record a short video of your face to verify your identity in real-time.

4. KYC Verification Time

Bybit typically processes KYC verifications within 24 hours. You will receive an email notification when your verification status is updated.

5. Benefits of KYC Verification

• Increased withdrawal limits
• Access to additional Bybit features and services
• Enhanced security for your account
• Compliance with KYC regulations

6. Exceptions

• Users from jurisdictions not supported by Bybit may be unable to complete KYC verification.
• Bybit may request additional verification documents or conduct video calls for certain users to enhance security.