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Bybit users can take advantage of its fiat deposit service to transfer funds in US dollars (USD) to their accounts. The service, which leverages the SWIFT (Society for Worldwide Interbank Financial Telecommunication) international transfer system, features low transaction fees. It’s open to individual users in most countries, with the exception of jurisdictions where Bybit’s services are restricted. USD deposits can serve as an excellent way to on-ramp your fiat funds to Bybit for further use in its crypto trading markets and products.
In this article, we show you how you can make a USD fiat deposit on Bybit, and detail all the associated key requirements, fees, limits and compliance considerations.
Key Takeaways:
Bybit individual users in any country serviced by its exchange can use its fiat deposit service to transfer funds in USD to their accounts.
Bybit supports two main methods for USD fiat deposits — SWIFT transfers, and SWIFT transfers for non-US banks only. Additionally, users in El Salvador can also use the QuickPay digital payment service provider.
USD fiat deposits are available for individual, non-business Bybit users who have completed at least the Standard level of Identity Verification. Depending upon your location and account details, you may be asked for additional identification documents, due to compliance reasons.