How to Complete KYC With Bybit?

Bybit will be introducing a change in our Know Your Customer (KYC) policy for individuals and businesses starting mid-July. Through this implementation, users will experience greater security and gain wider access to additional features in the future. 

KYC refers to the verification of the customer’s identity through the mandatory submission of official documents, such as identification cards, bank statements, or utility bills. 

There are two levels to KYC at Bybit. 

  • Level 1 allows for 50 BTC daily withdrawal limit
  • Level 2 allows for 100 BTC daily withdrawal limit 

How to Implement KYC for Individuals

  1. Go to bybit.com
    Sign up for an account in order to be eligible for a withdrawal limit of 2 BTC. 
  1. Click on Your Avatar
    To be entitled for higher withdrawal limits, log on to your Bybit account and click on [Account & Security]. Under the Level 1 Basic Verification column, click on [Verify Now].
  1. You will then be led to the next page, which officially kickstarts the KYC process for Level 1. 
  1. Provide Mandatory Information to Verify Level 1:
    1. Select the country that issued the identification card/passport
    2. A scanned copy of identification card/passport 
    3. Facial recognition scan via your laptop 
  1. All the files submitted ought to be in JPEG/JPG/PNG format, and the file size should be no larger than 500KB.
  1. Complete Level 1 for a Withdrawal Limit of 50 BTC a Day

Next, verify the passport submitted and click [Next].

After we have verified your information, you will be entitled to a withdrawal limit of 50 BTC per day. 

  1. Complete Level 2 for a Withdrawal Limit of 100 BTC a Day

To be eligible for higher withdrawal limits, click on [Upload the document] in Level 2 to upload a PDF/JPEG/PNG version of your bank statement or utility bill. The file size uploaded needs to be no greater than 500KB.

Once the documents are verified by Bybit, you will receive an email of approval, and can then withdraw up to either 50 or 100 BTC a day, according to your new withdrawal limit authorization. KYC verification is usually completed within half an hour, but can take up to 48 hours due to the complexity of the document verification process.

How to Implement KYC With Bybit for Businesses

Send an email to compliance@bybit.com. Be sure to include scanned copies of the following documents:

  1. Certificate of incorporation
  2. Articles, constitution or memorandum of association 
  3. Register of members and register of Board of Directors  
  4. Passport/ID and proof of residency of the Ultimate Beneficial Owner (UBO) who owns over 25% interest in the company  
  5. Passport/ID and proof of residency of one director, if different from the UBO  
  6. Passport/ID and proof of residency of the account operator/trader, if different from the UBO

Once the documents are verified by Bybit, you will receive an email of approval, and can then withdraw up to 100 BTC a day. 

The Bottom Line

As the leading crypto derivatives exchange in the world, Bybit KYC processes are dedicated to protecting and prioritizing our users. Kickstart your KYC process here