Cryptocurrency trading platforms have evolved significantly over the years, with Bybit emerging as one of the most reliable and user-friendly exchanges since its launch in 2018. Known for its high-performance infrastructure, robust security measures, and seamless mobile experience, Bybit enables traders to execute transactions efficiently — even during volatile market conditions.
This comprehensive guide walks you through the withdrawal and transfer process on Bybit, covering essential steps, fees, limits, security setup, and troubleshooting tips. Whether you're a beginner or an experienced trader, this article ensures you can securely move your digital assets with confidence.
Understanding Bybit's Withdrawal Rules
Before initiating any withdrawal, it’s crucial to understand Bybit’s policies regarding fees, minimum amounts, network requirements, and verification levels.
Withdrawal Fees and Minimum Amounts Vary by Cryptocurrency and Network
Bybit applies different withdrawal fees and minimum withdrawal thresholds depending on the cryptocurrency and blockchain network used (e.g., ERC-20 vs. TRC-20 for USDT). Choosing the right network can help reduce costs — but only if your receiving wallet supports it.
For example:
- USDT via TRC-20: Lower fee (1 USDT) compared to ERC-20 (10 USDT)
- Always verify that your destination wallet accepts the selected network
👉 Discover how to minimize transfer costs with smart network selection.
Some Cryptocurrencies Require a Memo or Tag
Certain tokens like XRP (Ripple) and EOS require a destination tag or memo in addition to the wallet address. Omitting this detail may result in lost funds or delayed processing.
⚠️ Critical Tip: Never skip entering the tag when required. Double-check both the address and tag before confirming.
Two-Factor Authentication (2FA) Is Mandatory
To enhance security, Bybit requires two types of 2FA for withdrawals:
- Google Authenticator (required)
- Either SMS verification or email confirmation
This dual-layer protection helps prevent unauthorized access and ensures only verified users can initiate fund transfers.
Withdrawal Limits Depend on Verification Level
Your account’s KYC (Know Your Customer) status determines your daily withdrawal limit:
| Verification Level | BTC Daily Limit |
|---|---|
| Unverified | 2 BTC |
| Level 1 (ID Proof) | 50 BTC |
| Level 2 (Address Proof) | 100 BTC |
While unverified accounts allow moderate withdrawals, upgrading your verification unlocks higher limits and additional features.
Bybit Withdrawal Fees Overview
Bybit charges a small network (mining) fee to process blockchain transactions. These fees are dynamic and subject to change based on network congestion.
Here are common withdrawal fees:
- BTC: 0.0005 BTC
- ETH: 0.005 ETH
- USDT (ERC-20): 10 USDT
- USDT (TRC-20): 1 USDT
- DOGE: 5 DOGE
- XRP: 0.25 XRP
- LTC: 0.001 LTC
- SOL: 0.01 SOL
💡 Note: Deposit fees on Bybit are always free.
Always check the latest fee schedule within your Bybit account dashboard before initiating a transaction.
Minimum Withdrawal Amounts
Each cryptocurrency has a set minimum withdrawal amount. Attempting to withdraw less than the threshold will result in rejection.
Common minimums include:
- BTC: 0.001 BTC
- ETH: 0.02 ETH
- USDT (ERC-20): 20 USDT
- USDT (TRC-20): 10 USDT
- XRP: 20 XRP
- DOGE: 25 DOGE
- ADA: 2 ADA
These values help ensure transactions are processed smoothly across respective blockchains.
Preparing for Withdrawal: Security Setup
To enable withdrawals, two key steps must be completed: setting up Two-Factor Authentication (2FA) and registering a trusted withdrawal address.
Step 1: Enable Two-Factor Authentication
- Log into your Bybit account
- Go to Account & Security
Select either:
- Email + Google Authenticator
- SMS + Google Authenticator
- Install Google Authenticator app
- Scan the QR code provided
- Enter the generated 6-digit code
- Confirm setup via email or SMS
Once enabled, Google Authenticator becomes mandatory for all future withdrawals.
Step 2: Register Your Wallet Address
To prevent accidental transfers to incorrect addresses:
- Navigate to Assets > Wallet Address Management
- Click Add Address
- Select the cryptocurrency
- Paste your external wallet address
- Assign a recognizable name (e.g., “My Trust Wallet”)
- Confirm registration
You can register multiple addresses for different coins to streamline future withdrawals.
👉 Learn how top traders secure their crypto withdrawals.
How to Withdraw Crypto from Bybit: Step-by-Step
With security measures in place, withdrawing funds is simple:
Step-by-Step Withdrawal Process
Step 1: Go to the Assets section
Step 2: Click Withdraw next to the desired cryptocurrency
Step 3: Enter the amount (ensure it meets the minimum)
Step 4: Select or paste the registered wallet address
Step 5: Complete 2FA using Google Authenticator
Step 6: Check your email for a confirmation link — click it within 30 minutes
Failure to confirm via email within the time limit will cancel the request.
✅ Pro Tip: Use the “Max” button to withdraw full balance — available on both web and mobile apps.
Can You Withdraw JPY from Bybit?
No — Bybit does not support Japanese yen (JPY) withdrawals. As an international derivatives exchange, it only allows crypto-to-crypto transfers.
To convert holdings to JPY:
- Withdraw crypto from Bybit to a domestic exchange (e.g., GMO Coin or DMM Bitcoin)
- Sell crypto for JPY on the local platform
- Withdraw JPY to your bank account
Be aware that using domestic exchanges with zero withdrawal fees can help reduce overall costs.
Why Withdrawals Might Fail: Common Causes & Fixes
Even with proper setup, issues can occur. Here are the top reasons and solutions.
1. Incorrect Wallet Address
Typing errors in wallet addresses can lead to permanent fund loss.
✅ Solution: Always use copy-paste instead of manual input. Test with a small amount first.
2. Missing Memo/Tag
For XRP, EOS, or similar tokens, forgetting the tag delays or blocks delivery.
✅ Solution: Recheck requirements before sending. Tags are case-sensitive.
3. Blockchain Congestion
High traffic on networks like Bitcoin or Ethereum can delay transaction confirmations.
✅ Solution: Monitor blockchain explorers (e.g., Etherscan for ETH, BTC.com for BTC) using the transaction ID (TXID).
What to Do If Your Withdrawal Isn’t Reflecting?
Use this checklist to diagnose delays:
Check Withdrawal Status in Your History
| Status | Meaning |
|---|---|
| Email Confirmation Pending | Click the link sent to your email |
| Verification Pending | Awaiting internal review; processed at fixed times |
| Transfer Pending | Ready for blockchain broadcast |
| Sent | Transaction completed — check receiving end |
| Email Expired | Resend withdrawal request |
| Rejected | Likely due to security policy violation |
If status shows “Sent” but funds aren’t received, verify:
- Correct wallet and network
- Presence of memo/tag
- Blockchain explorer status
Contact Customer Support
Bybit offers 24/7 Japanese-language support via:
- Live chat (bottom-right corner of website)
- Email: [email protected]
Include your TXID and screenshots for faster resolution.
Frequently Asked Questions (FAQ)
Q: Is there a fee to deposit crypto on Bybit?
A: No — all deposits are completely free regardless of currency or network.
Q: How long does a withdrawal take?
A: Most withdrawals are processed within minutes, though blockchain confirmation times vary (e.g., BTC: 10–30 mins, ETH: a few minutes).
Q: Can I withdraw directly to my bank account?
A: Not directly. You must first transfer crypto to a domestic exchange that supports fiat withdrawals.
Q: What happens if I enter the wrong address?
A: Funds may be lost permanently. Always double-check addresses and test with small amounts first.
Q: Does Bybit ever block withdrawals?
A: Legitimate withdrawals are rarely blocked. Issues usually stem from incomplete verification, disabled 2FA, or policy violations.
Q: Is Google Authenticator required every time?
A: Yes — it’s mandatory for every withdrawal along with email/SMS confirmation.
Final Thoughts: Is Bybit Safe and Reliable for Withdrawals?
Bybit stands out for its fast execution, low latency, strong security, and full Japanese support, making it a trusted choice for traders worldwide.
Key advantages:
- Supports major cryptocurrencies with flexible network options
- Transparent fee structure
- Zero deposit fees
- Intuitive mobile app for on-the-go trading
- Zero-cut system protects against negative balances in leveraged trades
While direct JPY withdrawals aren't supported, integrating Bybit with low-fee domestic exchanges streamlines fiat conversion efficiently.
👉 Secure your crypto journey with best-in-class withdrawal practices today.
By following this guide, you can confidently manage your assets on Bybit — from securing your account to executing smooth, error-free withdrawals.