Cryptocurrency trading has evolved rapidly over the past few years, and platforms like Bybit have become central hubs for both novice and experienced investors. Originally launched in 2018 with a focus on derivatives trading, Bybit has expanded into a full-featured digital asset exchange offering spot trading, staking opportunities, and access to emerging blockchain projects through Launchpad and Launchpool.
This guide walks you through the step-by-step process of buying cryptocurrency on Bybit, including Bitcoin, Ethereum, BitDAO (BIT), and other major digital assets. Whether you're looking to diversify your portfolio or get early access to new tokens, Bybit provides a seamless experience—once you know how to navigate it.
What Is Bybit?
Bybit is a globally recognized cryptocurrency exchange serving over 3 million users. While it initially gained popularity for its advanced futures trading tools, it now supports a wide range of services including spot trading, savings products, NFTs, and decentralized finance (DeFi) integrations.
The platform emphasizes security, performance, and user experience, offering 24/7 customer support in multiple languages. It also enables users to earn passive income via flexible staking and dual asset mining programs.
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Key Features of Bybit
- Extensive cryptocurrency selection: Trade hundreds of coins including BTC, ETH, BIT, DOT, and more.
- Advanced trading options: Access derivatives, leverage trading, and conditional orders.
- Launchpad & Launchpool: Participate in token sales from promising new blockchain projects.
- Interest-bearing products: Grow your holdings by staking stablecoins or participating in yield-generating activities.
Pros and Cons of Using Bybit
Understanding the strengths and limitations of any platform is crucial before investing time or funds.
Advantages:
- Broad selection of tradable cryptocurrencies
- Robust tools for derivatives and spot trading
- Opportunities to invest early in new projects via Launchpad/Launchpool
- Round-the-clock multilingual support
Limitations:
- No direct fiat deposits (you must first acquire crypto elsewhere)
- Not available to users in restricted jurisdictions such as the United States
Note: Identity verification (KYC) is required to unlock higher withdrawal limits and use advanced features on Bybit.
Step-by-Step Guide: How to Buy Crypto on Bybit
Although Bybit doesn’t accept direct bank transfers or credit card payments for fiat currencies, you can still easily buy crypto using USDT (Tether)—a stablecoin pegged to the U.S. dollar. This method ensures fast transactions with low fees and price stability.
Alternatively, Bybit integrates third-party payment processors like Simplex and MoonPay, allowing you to purchase crypto directly with fiat through the "Buy Crypto" feature.
Let’s walk through the process of buying cryptocurrency using USDT.
Step 1: Deposit USDT to Your Bybit Account
Before trading, you’ll need to fund your account. Here’s how:
- Log in to your Bybit account.
- Navigate to Assets → Spot Account.
- Search for USDT and click Deposit.
- Choose a network—preferably TRON (TRC20) for lower fees and faster confirmations.
- Copy the deposit address provided by Bybit.
- Transfer USDT from your external wallet or another exchange to this address.
🔒 Security Tip: Always double-check the network and wallet address. Sending funds via the wrong blockchain (e.g., ERC-20 instead of TRC-20) may result in permanent loss.
Start with a small test transaction (e.g., $5 worth of USDT) to confirm everything works before sending larger amounts.
Step 2: Select the Cryptocurrency You Want to Buy
Once your USDT deposit is confirmed:
- Go to the Trade section under the Assets tab.
- Use the search bar to find your desired cryptocurrency—such as Bitcoin (BTC), Ethereum (ETH), or BitDAO (BIT).
- Select the appropriate trading pair—in this case, BIT/USDT.
This interface displays real-time price charts, order books, and recent trades, helping you make informed decisions.
Step 3: Execute Your Trade
Bybit supports two primary order types ideal for beginners: market orders and limit orders.
Market Order – Instant Purchase at Current Price
A market order buys the asset immediately at the best available market rate.
- Enter the amount of USDT you want to spend (e.g., 10 USDT).
- The system calculates how much BIT you’ll receive based on current prices (approximately 5.16 BIT at the time of example).
- Confirm the trade.
✅ Pros: Fast execution, simple to use
❌ Cons: Slight price slippage possible; final amount may vary slightly
Limit Order – Buy at a Specific Price
With a limit order, you set the exact price at which you want to buy.
- Set your target price (e.g., 1.91 USDT per BIT).
- Allocate the full or partial USDT balance.
- The order executes only when the market reaches your specified price.
✅ Pros: Full control over entry price
❌ Cons: No guarantee of execution if price isn’t reached
After your order fills, your purchased tokens will appear in your Spot Account under Assets.
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Can I Buy Bitcoin and Ethereum Directly?
Yes! The same process applies to major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH):
- Deposit USDT
- Navigate to Trade
- Select BTC/USDT or ETH/USDT pair
- Place a market or limit order
These high-liquidity pairs ensure quick execution and tight spreads.
Frequently Asked Questions (FAQ)
Q: Do I need KYC verification to buy crypto on Bybit?
A: While basic trading is possible without KYC, completing identity verification unlocks higher withdrawal limits, access to customer support, and participation in token launches like Launchpad.
Q: Can I use fiat currency like USD to buy crypto on Bybit?
A: Yes—but not directly through Bybit’s internal system. You can use third-party providers integrated into the “Buy Crypto” feature, such as MoonPay or Simplex, which accept credit/debit cards and bank transfers.
Q: Which blockchain network should I use for USDT deposits?
A: We recommend using the TRON (TRC20) network due to its low transaction fees (often less than $1) and fast confirmation times. Avoid mixing networks—always match the deposit network with your sending platform.
Q: Is it safe to store crypto on Bybit?
A: Bybit employs strong security measures including cold storage, multi-signature wallets, and regular audits. However, for long-term holdings, it's best practice to transfer assets to a private hardware wallet.
Q: What is BitDAO (BIT), and why trade it on Bybit?
A: BIT is the governance token of BitDAO, a decentralized autonomous organization focused on Web3 development. On Bybit, BIT holders gain exclusive access to Launchpad and Launchpool events, enabling early participation in new token offerings.
Q: Are there fees for buying crypto on Bybit?
A: Yes. Trading fees depend on whether you're a maker or taker and your 30-day trading volume. Standard rates start at 0.1% for takers and 0.02% for makers. Deposit fees are typically free; withdrawal fees vary by cryptocurrency.
Final Thoughts
Buying cryptocurrency on Bybit is straightforward once you understand the flow: deposit USDT, choose your trading pair, and place an order. With support for major assets like Bitcoin, Ethereum, and niche tokens like BitDAO, Bybit caters to diverse investment strategies.
Its growing ecosystem—including staking, yield programs, and early-stage project access—makes it more than just a trading platform.
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Whether you're entering the market for the first time or scaling up your digital asset portfolio, Bybit offers the tools and liquidity needed for success—provided you follow best practices for security and fund management.
By mastering these steps and staying informed about market trends, you'll be well-equipped to navigate the evolving world of cryptocurrency with confidence.