How to deposit fiat on Bybit?

Deposit fiat on Bybit using cards, bank transfers, or third-party processors like Mercuryo—verify identity first and review fees before confirming.

Aug 12, 2025 at 02:49 pm

Understanding Fiat Deposits on Bybit

Depositing fiat currency on Bybit allows users to convert traditional money such as USD, EUR, or GBP into digital assets directly on the exchange. Bybit supports multiple fiat-to-crypto gateways, enabling seamless onboarding for new traders. The platform integrates with various third-party payment providers to facilitate instant or near-instant deposits. It is essential to understand that Bybit itself does not hold fiat funds but routes the transaction through partnered financial institutions and payment processors. This ensures compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.

Before initiating a deposit, users must complete identity verification. This process typically involves uploading a government-issued ID and a selfie. Once verified, the fiat deposit option becomes available in the wallet section. Supported fiat currencies vary by region due to regulatory differences. For example, users in the European Economic Area may deposit EUR via SEPA, while U.S.-based users might use USD through SWIFT or partner payment gateways like Simplex or Mercuryo.

Supported Payment Methods for Fiat Deposits

Bybit offers several payment methods for depositing fiat, each with different processing times, fees, and regional availability. The most commonly used methods include:

• Credit/Debit Cards: Users can link Visa or Mastercard to deposit fiat instantly. This method is fast but may incur higher fees, typically around 3.5% per transaction.
• Bank Transfers (SEPA, SWIFT): Ideal for larger deposits, especially within Europe (SEPA) or international transfers (SWIFT). SEPA transfers are usually free and settle within 1 business day, while SWIFT may take 3–5 days and involve intermediary bank charges.
• Third-Party Payment Processors: Platforms like Mercuryo, MoonPay, and Simplex are integrated into Bybit’s deposit interface. These services support a wide range of local payment options, including Apple Pay, Google Pay, and even local bank transfers in select countries.

Each method displays real-time exchange rates and fees before confirmation. It is crucial to review these details to avoid unexpected costs. Some processors require additional KYC steps outside of Bybit’s system, so users should be prepared to provide further documentation if prompted.

Step-by-Step Guide to Deposit Fiat via Credit Card

To deposit fiat using a credit or debit card, follow these steps carefully:

• Log in to your Bybit account and navigate to the Assets section from the top menu.
• Click on Deposit and select Fiat from the dropdown options.
• Choose your preferred fiat currency (e.g., USD, EUR).
• Select Credit/Debit Card as the payment method.
• Enter the deposit amount and review the displayed exchange rate and service fee.
• Input your card details, including card number, expiration date, CVV, and billing address.
• Complete 3D Secure verification sent by your card issuer.
• Wait for the transaction to process; successful deposits reflect in your Bybit fiat wallet within minutes.

Ensure your card supports international transactions and has sufficient funds. Some banks may block cryptocurrency-related purchases by default, so contacting your bank to authorize such transactions might be necessary.

Using Third-Party Gateways: Mercuryo Example

Third-party gateways expand deposit options beyond traditional cards and bank wires. Mercuryo, for instance, supports over 100 countries and offers local payment methods like Sofort, iDEAL, and EPS. To use Mercuryo:

• Go to the Fiat Deposit page on Bybit.
• Select Mercuryo as the provider.
• Choose your country and currency.
• Enter the amount you wish to deposit.
• Select your preferred payment method (e.g., iDEAL for Netherlands users).
• You will be redirected to Mercuryo’s secure page to complete the transaction.
• Follow the on-screen instructions to authorize the payment via your local banking portal.
• After confirmation, the equivalent USDT or other crypto will be credited to your Bybit spot wallet.

Mercuryo applies a transparent fee structure, usually between 2.5% and 4.5%, depending on the method and region. Transaction limits may apply based on verification level and historical activity.

Handling Bank Transfers (SEPA and SWIFT)

For users preferring bank transfers, Bybit supports SEPA for Euro deposits and SWIFT for global transfers. To deposit via SEPA:

• Access the Fiat Deposit section and choose EUR as the currency.
• Select SEPA Transfer as the method.
• Copy the IBAN and BIC/SWIFT code provided by Bybit’s payment partner.
• Initiate the transfer from your personal bank account using these details.
• Include the unique reference code generated by Bybit to ensure proper crediting.
• Wait for the transfer to settle, typically 1 business day.
• Once received, funds appear in your Bybit EUR wallet and can be used to buy crypto.

SWIFT deposits follow a similar process but require additional information such as the beneficiary bank address and intermediary bank details if applicable. Due to higher fees and longer processing times, SWIFT is recommended for larger amounts where cost efficiency outweighs speed.

Security and Verification Tips

Security is paramount when depositing fiat. Always ensure you are on the official Bybit website (https://www.bybit.com) and avoid clicking on unverified links. Enable two-factor authentication (2FA) using Google Authenticator or SMS. Monitor your email and Bybit notifications for deposit confirmations and alerts.

If a deposit does not reflect within the expected timeframe, check the transaction status in the Deposit History tab. For card deposits, verify with your bank whether the transaction was declined. For bank transfers, confirm that the reference code was included. Contact Bybit Support only through the official help center to avoid phishing risks.

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FAQs

Can I deposit fiat directly into my Bybit derivatives account?

No, fiat deposits go into your Bybit fiat wallet under the Spot & Margin section. To use funds in derivatives, you must first convert fiat to a supported cryptocurrency like USDT and transfer it to your derivatives account via the internal transfer function.

Why was my card deposit declined?

Common reasons include insufficient funds, lack of international transaction support, or bank-level blocks on crypto purchases. Contact your card issuer to confirm permissions and retry with an alternative card or payment method.

Are there minimum or maximum deposit amounts?

Yes, minimums vary by method—typically €10 or $10 for cards and €1 for SEPA. Maximums depend on verification level and payment provider. Unverified accounts have lower limits; completing KYC increases these thresholds.

Do I pay taxes on fiat deposits?

Depositing fiat is not a taxable event in most jurisdictions. However, converting fiat to crypto or trading may trigger tax obligations. Consult a tax professional in your country for compliance guidance.