Bybit Withdrawal Fees | Do They Beat The Competition?
Mike Harry
Feb 2024
4 min read
Fact checked
In this breakdown, we put the spotlight on the Withdrawal Fees imposed by Bybit. Alongside, we will also outline other related fees such as crypto withdrawal fees, fiat withdrawal expenses, and other relevant costs. Keep reading and you will soon discover the competitiveness of Bybit's fee structure!
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Depending on which type of funds that users wish to withdraw, there are different types of fees associated with each withdrawal.
Bybit exchange
When it comes to fiat currencies, the deciding factor will be which currency (USD, EUR etc) is being withdrawn and by which method.
For cryptocurrencies, it will depend on which cryptocurrency, the underlying blockchain it's withdrawn and congestions.
Bybit Withdrawal Limit
When it comes to withdrawal limits, Bybit offers different limits depending on the account security and verification of each users.
Bybit offers Basic Security, Level 1 KYC verification and Level 2 KYC verification that all come with different withdrawal limits. The Basic one has a daily withdrawal limit of 20,000 USDT and up to 100,000 USDT per month.
Bybit Withdrawal Limits
Users who decide to advance to Level KYC, they are rewarded with a daily withdrawal limit of up to 1 million USDT. This requires ID verification and uploading a selfie to achieve this level.
For users that provide even more information such as proof of address, they will be able to withdraw up to 2 million USDT per day.
Bybit Fiat Withdrawal Fees
Registered Bybit users have the option to deposit and withdraw multiple fiat currencies such as USD, GBP, EUR, ARS, BRL, MXN, PLN, TRY, RUB and a few others.
Bybit Fiat WIthdrawals
Bybit offers multiple fiat withdrawal methods that include Advcash, Zen, Bank Transfer, SEPA, FPS, Quickpay and others.
The withdrawal fees differ for each fiat currency and withdrawal method but tend to range between zero fees (Advcash) up to 0.22% withdrawal fee for Faster Payments and 0.19% for SEPA.
Bybit Minimum Withdrawal
For those that want to withdraw fiat currencies on Bybit, the minimum withdrawal limit is 10 Dollars, Euros or British Pounds.
Bybit crypto withdrawals
For crypto withdrawals for cryptocurrencies such as Bitcoin (BTC), the minimum withdrawal amount is 0.001 BTC. For newer blockchains that have faster transaction speeds and lower costs, the minimum withdrawal amount is even lower.
Bybit Withdrawal Times
Withdrawal times related to fiat currencies differ depending on which method and currency is being withdrawn. Bank transfers for ARS and TRY happen in real time while FPS and SEPA withdrawal times can range between 1-3 business days.
For cryptocurrency withdrawals, those tend to range between a few minutes (Bitcoin & Ethereum) to less than a minute with low cost blockchains like Solana and Cosmos.
Bybit Crypto Withdrawal
Users on Bybit have the option to withdraw over 350 cryptocurrencies from the platform including BTC, ETH, SOL, ATOM, DOT, ADA, ARB, DOGE and many others. Below we have outlined the fees associated with cryptocurrencies withdrawals for the biggest cryptocurrencies.
Bybit BTC withdrawal fees
Bybit users that want to withdraw their Bitcoin (BTC) from the exchange will have to pay a withdrawal fee of 0.0005 BTC.
Bybit ETH withdrawal fees
Users that want to withdraw Ethereum (ETH) from Bybit can do so for a low cost of only 0.0019 ETH. These are quite competitive withdrawal fees and in-line with the lower cost exchanges in the industry.
Bybit USDT withdrawal fees
And finally for those that want to know how much they have to pay to withdraw stablecoins such as USDT from Bybit, the fees range between:
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