Cryptocurrency exchange verification is now mandatory for most users, and Bybit is no exception. The KYC (Know Your Customer) process helps exchanges ensure transaction safety, comply with international standards, and combat money laundering.
This guide explains why verification is necessary, what documents you'll need, and provides detailed steps to complete the process successfully.
Why Verification on Bybit is Essential
Verification on Bybit is a user identification procedure designed to:
Comply with Regulatory Standards (KYC & AML)
- KYC verifies user identity to meet international financial requirements.
- AML prevents illegal activities like money laundering and terrorist financing.
Enhance Account Security
- Reduces fraud risks and unauthorized access.
- Enables additional security features like two-factor authentication (2FA).
Increase Withdrawal Limits
- Unverified accounts face strict withdrawal caps (e.g., a few thousand USD/day).
- Verified accounts enjoy higher limits (up to 2,000,000 USDT/day for Level 2).
Unlock Full Platform Features
- Futures trading, lending services, and exclusive promotions.
- Access to advanced trading tools and a wider range of assets.
Protect Against Fraud
- Confirmed identity reduces scam risks for all platform users.
Enable Cryptobot Trading
- Required for tools like Veles trading bots and fiat withdrawals.
Documents Required for Bybit Verification
Prepare the following:
Identity Proof (choose one):
- Passport
- Driver’s license
- National ID card
Address Proof (issued within last 3 months):
- Utility bill
- Bank statement
- Government-issued residency document
Selfie or Live Photo
- Clear image of your face holding the ID or via webcam/mobile app.
👉 Get started with Bybit verification
Bybit KYC Levels Explained
Bybit offers tiered verification with increasing benefits:
| Level | Requirements | Daily Withdrawal Limit |
|-----------------|------------------------------------------|---------------------------|
| Basic | Name, address, DOB | Low (e.g., $50K) |
| Level 1 | ID + address proof | 1,000,000 USDT |
| Level 2 | Additional checks (e.g., video call) | 2,000,000 USDT |
| Corporate | Business registration documents | Custom limits |
Step-by-Step Verification Guide
Level 1 (Lv.1) Verification
- Log in to your Bybit account.
- Navigate to Settings → Identity Verification.
- Enter personal details (name, DOB, address).
- Upload a valid ID (passport, driver’s license, or national ID).
- Submit proof of address (e.g., utility bill).
- Wait for approval (typically minutes to 24 hours).
Level 2 (Lv.2) Verification
- After completing Lv.1, select "Advanced Verification".
- Confirm your address with a recent document (<3 months old).
- Complete a live selfie or video verification if prompted.
- Processing time: 1–2 business days.
Corporate Verification
- Register a corporate account on Bybit.
- Submit company documents (license, beneficiary details).
- A Bybit representative may contact you for additional checks.
- Approval takes up to 7 business days.
FAQs
1. Can I trade on Bybit without verification?
Yes, but with restricted withdrawals and limited features.
2. How long does verification take?
Usually under 24 hours (up to 2 days during high demand).
3. What if my verification fails?
Ensure documents are clear and valid. Contact Bybit support if issues persist.
4. Is mobile verification supported?
Yes! Use the Bybit app for KYC.
5. Do I need video verification?
Only for Level 2 or corporate accounts.
Conclusion
Bybit verification unlocks higher limits, advanced trading options, and stronger security. Follow this guide to complete KYC smoothly and access the platform’s full potential.