how to receive btc on bybit

To receive Bitcoin on Bybit, create an account, deposit funds if needed, generate a BTC deposit address, initiate a BTC transfer from an external source, and monitor the transaction's progress.

Nov 03, 2024 at 03:22 pm

How to Receive Bitcoin (BTC) on Bybit

Step 1: Create a Bybit Account

Visit Bybit's website (https://www.bybit.com/) and click "Register."
Enter your email address and create a password.
Complete the security verification and KYC (Know-Your-Customer) process.

Step 2: Fund Your Account (Optional)

You can deposit funds into your Bybit account through various methods, such as:
- Bank transfer
- Credit/debit card
- Apple Pay
- Cryptocurrency deposit

Step 3: Generate a BTC Deposit Address

Log in to your Bybit account and navigate to "Assets" > "Spot Account."
Click on the "Deposit" tab and select "BTC" from the dropdown menu.
Your unique BTC deposit address will be displayed.

Step 4: Receive BTC from an External Wallet/Exchange

From the sending wallet or exchange, initiate a BTC transfer.
Paste your Bybit BTC deposit address into the recipient's address field.
Enter the desired amount of BTC to send.
Confirm the transaction and pay the network fee.

Step 5: Monitor the Transaction

You can track the status of your BTC deposit on the "Deposit History" page in Bybit's "Assets" section.
Deposits typically take a few minutes to complete, but can take several hours during network congestion.

Additional Notes:

Ensure you double-check the deposit address before sending BTC.
Bybit supports both on-chain (blockchain) and off-chain (P2P) BTC transfers. Off-chain transfers are faster and cheaper, but subject to Bybit's daily transfer limit.
Once you receive BTC in your Bybit wallet, you can use it for trading, earning yield, or withdrawing to an external address.

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