Bybit has emerged as one of the leading cryptocurrency exchanges, especially after lifting restrictions for Chinese users in June. Many traders have since registered on the platform. A common question among users is: How to withdraw funds from Bybit to a bank card? This guide provides a detailed walkthrough.
Step-by-Step: Withdrawing from Bybit to Your Bank Card
Navigate to the Assets Page
- Click on "Assets" at the top-right corner of the homepage. This will direct you to the asset management page under your Spot Account.
Select the Cryptocurrency to Withdraw
- Locate the currency you wish to withdraw (e.g., USDT) and click "Withdraw."
Note: Withdrawals are processed directly from your Spot Account. If your funds are in the Derivatives Account, transfer them to the Spot Account first using the "Transfer" option.
Configure Withdrawal Details
- Chain Selection: Choose the appropriate blockchain (e.g., ERC-20 or TRC-20 for USDT).
- Wallet Address: Select or add your bank-linked withdrawal address.
- Amount: Enter the amount or click "All" to withdraw the full balance.
Submit and Verify
Click "Submit" to proceed to the verification page. You’ll need:
- Email verification code.
- Google Authenticator code.
Confirmation
- Processing may take up to 30 minutes. A confirmation email will be sent to your registered address—click the verification link to finalize the withdrawal.
Is Bybit Withdrawal Safe?
Bybit employs enterprise-grade security protocols, including real-time risk monitoring to detect anomalies and protect user funds. CEO Ben Zhou has publicly committed to safeguarding assets post-FTX collapse. However, some users report temporary withdrawal freezes due to security checks, sparking community debates. While these measures aim to prevent fraud, they can cause short-term access delays.
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Key Takeaways
- Use the Spot Account for withdrawals.
- Double-check blockchain compatibility to avoid failed transactions.
- Enable 2FA (Email + Google Authenticator) for enhanced security.
FAQ
Q: How long does a Bybit withdrawal take?
A: Typically under 30 minutes, but delays may occur during high traffic or security reviews.
Q: Can I withdraw directly to a bank card?
A: Yes, but ensure your card is linked to a compatible wallet address (e.g., USDT via TRC-20).
Q: What if my withdrawal is frozen?
A: Contact Bybit support with transaction details for resolution.
Q: Are there withdrawal limits?
A: Limits vary by account tier and verification level. Check "Assets" > "Withdrawal" for specifics.
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By following these steps, you can securely withdraw funds from Bybit to your bank card. Always verify details and monitor your email for confirmations. Happy trading!