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The process of verification ranges from 5 minutes to a hour depending on the method you have chosen. While you can definitely use other payment methods such as bank transfer or third parties such as MoonPay, you will need to go through identity verification with these methods which might take you some extra time, you can click on read more below to see the detailed process. As we have tested, the fastest way is to use a credit card, with a considerable small amount of fees. ByBit offers a very wide range of payment options ranging from credit card to bank transfer and many other options depending on the country you are based in. Choose the amount of BTC you want to purchase, and then choose your preferred payment methods. Step 2: Buy BTC with fiat moneyĬlick on 'Buy Crypto' > 'One Click Buy' at the navigation at the top. Although you still have the option to do so to increase your daily withdrawal limit, as an unverified user you already have a daily withdrawal limit of 2 BTC, which is very generous and pretty much enough for most traders.

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Thus you can jump straight into trading once you are registered, without needing to wait for an either automatic or manual identity verification process. Unlike many other exchanges, one advantage of ByBit is that it does not require you to go through a Know-Your-Customer (KYC) process. When you are logged in, go to your account security to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.

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Choose a strong password so that your account isn't vulnerable to hackers. Type your email and click 'Create Account'. However, due to the fact that it does not require verification, users may bypass location check temporary with a VPN service, suggestions of VPN services which will be listed below this article.

As with many other exchanges, in theory Bybit does not allow any US citizens to use their platform due to regulation reasons. It has a simple user interface on both of their website and mobile app which makes buying crypto an easy task. For unverified users, their daily withdrawal limit is 2BTC which is rather generous for most of the first-time buyers. If you want to increase your daily withdrawal limit, you still have the option to verify yourself. Most of all, unlike most other exchanges, it does not require any KYC process in order to start trading, which makes the buying process much quicker. Bybit first started off focusing crypto derivatives trading which is for seasoned professional traders but it also has a very powerful platform for simple cryptocurrency purchases. Bybit is a cryptocurrency exchange established in March 2018 to offer a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support.