What are the supported currencies on Bybit?

Supported Currencies on Bybit: An Overview

Bybit supports a wide range of cryptocurrencies and fiat currencies for trading, depositing, and withdrawing. The platform primarily focuses on digital assets, enabling users to trade spot, futures, and perpetual contracts. The list of supported currencies is regularly updated to reflect market demand and regulatory compliance. Users can access BTC, ETH, USDT, USDC, DOGE, SOL, XRP, ADA, DOT, and many other major and emerging tokens. Bybit emphasizes stability and liquidity, which is why stablecoins like USDT and USDC are central to its trading pairs.

The exchange operates across multiple trading domains: Spot Trading, Derivatives (Futures & Perpetual Contracts), and Copy Trading. Each domain may have slightly different currency availability. For example, USDT-margined perpetual contracts are available for dozens of cryptocurrencies, while inverse contracts are typically denominated in BTC or ETH. It is essential to verify currency availability in each section of the platform before initiating transactions.

Trading Pairs and Base Currencies

Bybit allows trading pairs primarily based on USDT, BTC, ETH, and USD. The most common trading pair format is Crypto/USDT, such as BTC/USDT, ETH/USDT, or SOL/USDT. These pairs dominate the Spot and Perpetual markets due to the stability and wide acceptance of USDT. In the derivatives market, BTC/USD and ETH/USD inverse futures are available, where the contract value is settled in BTC or ETH rather than a stablecoin.

When checking available pairs, users should note that not all cryptocurrencies are available in every trading category. For example, a coin might be available for Spot trading in USDT pairs but not supported in Perpetual Contracts. The platform displays real-time availability in the trading interface. To view all supported pairs:

• Navigate to the Trading section on the Bybit website or app
• Select Spot, Contracts, or Options
• Use the pair filter to search by base currency such as USDT, BTC, or USD
• Observe which assets are actively listed and tradable

Fiat On-Ramp and Off-Ramp Options

Bybit integrates third-party payment providers to support fiat-to-crypto purchases. Supported fiat currencies include USD, EUR, GBP, AUD, CAD, JPY, and others, depending on the user’s region. These services are powered by partners like MoonPay, Mercuryo, and Simplex. Users can buy USDT, BTC, ETH, and other top cryptocurrencies directly using credit/debit cards or bank transfers.

To purchase crypto with fiat:

• Log in to your Bybit account
• Click on Buy Crypto in the top menu
• Choose your preferred fiat currency and desired crypto asset
• Enter the amount and select a payment provider
• Complete identity verification if prompted
• Follow the provider’s checkout process to finalize the purchase

Withdrawals to fiat are not directly supported. Instead, users must convert crypto to USDT or another stablecoin and use peer-to-peer (P2P) platforms or external exchanges to cash out.

Deposit and Withdrawal Supported Cryptocurrencies

Bybit supports deposits and withdrawals for over 100 cryptocurrencies across multiple blockchains. Each token may have several withdrawal networks (e.g., ERC-20, BEP-20, TRC-20, Polygon, Arbitrum). Selecting the correct network is critical to avoid fund loss. For instance, USDT can be deposited via Ethereum (ERC-20), TRON (TRC-20), or Binance Smart Chain (BEP-20).

To deposit a cryptocurrency:

• Log in and go to Assets > Deposit
• Search for the cryptocurrency (e.g., ETH)
• Select the appropriate network (e.g., ERC-20)
• Copy the generated deposit address
• Send funds from your external wallet using the same network

To withdraw:

• Go to Assets > Withdraw
• Choose the cryptocurrency and correct withdrawal network
• Enter the external wallet address
• Specify the amount and confirm with 2FA or Google Authenticator
• Wait for blockchain confirmation

Mistakes in network selection can result in permanent loss of funds, so double-checking is essential.

Stablecoins and Their Role on Bybit

Stablecoins are foundational to Bybit’s trading ecosystem. The platform fully supports USDT, USDC, DAI, and FDUSD across trading, deposits, and withdrawals. USDT is the most widely used, serving as the base for most perpetual contracts and spot pairs. USDC has gained prominence due to its regulatory transparency and is available on multiple chains including Ethereum and Solana.

Trading with stablecoins reduces exposure to volatility and simplifies profit calculation. For example, SOL/USDT allows traders to speculate on Solana’s price without converting to or from BTC. To use stablecoins effectively:

• Ensure your account holds sufficient USDT or USDC for margin requirements
• Monitor network fees when depositing stablecoins—TRC-20 USDT often has lower fees than ERC-20
• Use cross-margin or isolated-margin modes appropriately when trading stablecoin-denominated contracts

Lesser-Known but Supported Tokens

Beyond major cryptocurrencies, Bybit lists numerous mid-cap and emerging tokens. Examples include APT, SEI, WLD, TIA, JUP, and PYTH. These are typically available in Spot trading and USDT-margined futures. Availability depends on market liquidity, community interest, and security audits.

New tokens are added through Bybit’s Launchpad and Spotlight programs, where users can participate in token sales. To stay updated:

• Visit the Discover section on Bybit
• Check New Listings and Innovation Zone for recently added assets
• Enable price alerts for tokens of interest

Some tokens may be restricted in certain jurisdictions due to regulatory policies. Always verify local compliance before trading.

Frequently Asked Questions

Can I deposit Binance Coin (BNB) on Bybit?Yes, BNB is supported for both deposits and withdrawals. It can be sent via BEP-20 (Binance Smart Chain) and ERC-20 (Ethereum) networks. Ensure the network matches between sender and receiver. BNB is also usable for paying trading fees with a discount.

Is Dogecoin (DOGE) available for futures trading?Yes, DOGE/USDT Perpetual Contracts are available on Bybit. Users can trade with leverage, and the contract is settled in USDT. DOGE is also supported in Spot trading and can be deposited or withdrawn via the TRC-20 network.

Does Bybit support Shiba Inu (SHIB)?Yes, SHIB is supported. It can be traded in SHIB/USDT Spot pairs and is available for deposit and withdrawal via the ERC-20 network. SHIB is not currently listed for futures trading.

Can I use PayPal to buy crypto on Bybit?Bybit does not directly accept PayPal. However, third-party providers like MoonPay allow PayPal as a payment method for buying crypto on Bybit. During the Buy Crypto process, select MoonPay and choose PayPal as the funding source. Availability may vary by region.