can i withdraw from bybit without kyc

Despite KYC requirements, Bybit enables users to withdraw up to 2 BTC per 24 hours without completing the verification process.

Oct 27, 2024 at 08:36 pm

Can I Withdraw from Bybit Without KYC?

1. KYC Requirements on Bybit

Know Your Customer (KYC) is a regulatory requirement that exchanges must follow to verify the identities of their users. Bybit requires users to complete KYC Level 1 to withdraw funds. KYC Level 1 involves providing personal information such as name, date of birth, and contact details.

2. Withdrawing Without KYC

While KYC is mandatory for withdrawals, there are some exceptions. Users can withdraw a maximum of 2 BTC per 24 hours without KYC. This limit applies to all withdrawal methods, including cryptocurrencies and fiat currencies.

3. Withdrawals Above 2 BTC

To withdraw more than 2 BTC per day, users must complete KYC Level 2. KYC Level 2 requires providing additional documents such as a government-issued ID and proof of address.

4. Other Restrictions Without KYC

In addition to the withdrawal limit, users without KYC may face other restrictions:

• Limited deposit methods
• Reduced margin trading leverage
• Inability to use certain features

5. Advantages of Completing KYC

Completing KYC has several benefits:

• Increased withdrawal limits: Users can withdraw up to $100,000 equivalent per day with KYC Level 2.
• Access to full platform functionality: KYC users enjoy access to all features and services on Bybit.
• Enhanced security: KYC helps prevent fraud and money laundering.

6. Conclusion

While Bybit does allow users to withdraw a limited amount without KYC, it is highly recommended to complete KYC for increased limits, access to full platform functionality, and enhanced security.