What is KYC?
KYC (Know Your Customer) guidelines for financial services require that professionals make an effort to verify the identity, suitability and risks involved, in order to minimize the risk to the respective account.
Why is KYC required?
KYC is necessary to improve security compliance for all traders. Bybit uses KYC to identify customers and analyze their risk profiles. This verification helps stop money laundering and financing of illicit activities.
Which Bybit products and services do not support Bybit corporate users?
Products and services listed below are not applicable to Bybit corporate users: Launchpool
For more information regarding the benefits of different KYC levels, please refer to here.
What are the daily withdrawal limits after my company completes Business KYC Verification?
Please refer to the following withdrawal limits for each KYC level:
Note:
— Daily withdrawal limit is updated every 12AM (midnight) UTC.
— Monthly withdrawal limit will reset at 12AM (midnight) UTC on the first day of each month.
— There is no monthly withdrawal limit for users who have completed Business KYC verification.
— Your company may be required to provide KYC verification before a withdrawal request can be approved by Bybit.
Can I have both Individual and Business KYC verified on the same account?
No, each Bybit account can only have one type of KYC verification, either Individual KYC or Business KYC.
Alternatively, if you wish to have both types of KYC verified account, you can keep your current Individual KYC account, and create a new Bybit account to complete Business KYC verification.
How should I contact customer support if I have questions that need to be clarified before submitting the documents?
You may write to us at compliance@bybit.com and we will assist with your inquiry as soon as possible. Alternatively, you may also reach out to our 24/7 live chat support.
Note: Business KYC applications can only be submitted via our Business KYC Portal. We will not process the documents submitted via email. If you do not have a Bybit account, you need to register a new account and submit the documents via the portal.
How to check my application status?
You may go to the Identity Verification page to check on the status of your application. If the application fails or is rejected due to a lack of information, please review the rejection reasons on the page or resubmit the application with the required information if needed. Alternatively, you may revoke your application and restart the process.
Note: If you confirm that the required information is all properly provided and need further clarification, please contact us at compliance@bybit.com.
Can I save the application draft if I need some time to prepare some of the required documentation?
Yes, please click on Save Draft on the current process page to save the information and the uploaded documents before quitting the submission process.
Can I restart the application if I find most of the information is incorrect?
Yes. If you wish to clear all information and start over, you may click on the Restart Application button. Please note that the action cannot be undone.
How will the company and individual information submitted be used?
The information you submit will be used to verify the identity of the company and individual(s). We will keep company and individual documents confidential.
What kind of Proof of Identity documents are accepted?
Bybit only accepts documents issued by your country of origin which contain the following information: photo, name, date of birth, document number, date of issue. These include passport, identity card, residence permit and driving license. Student Visa, Working Visa or Travel Visa are not accepted.
What kind of Proof of Address documents are accepted?
Proof of Address must be dated within the last three months. Documents older than three months will be rejected.
The Proof of address documents accepted by Bybit include:
- Utility bills
- Official bank statements
- Residential proof issued by government
- Internet/cable TV/house phone line bills
- Tax returns
- Council tax bills
- Government-issued certificates of residence, etc.
Bybit does not accept the following types of documents as Proof of Address:
- Domestic Passport
- Mobile phone statement
- Insurance document
- Medical bills
- Bank transaction slips
- Bank or company referral letter
- Handwritten invoice/receipt for purchases
- Border passes
Do Service Restricted Country prohibitions only apply to the Company's registered address?
No. Service Restricted Country proscriptions apply not only to the entity's registered country, but also the nationality or residency of UBO. The verification result may vary, depending on the nature of the institution as well as the shareholding structure. Bybit reserves the right to make the final decision on verification approval. For more information regarding Bybit service restricted countries, please visit here.
How long does the business KYC verification process take?
Generally, the business KYC verification process takes approximately 2-3 business days. Due to the complexity of information verification, Business KYC verification may take longer.
What should I do if the KYC verification process is unsuccessful for more than one week?
If you encounter any issues with Business KYC verification, kindly contact us at compliance@bybit.com for further assistance. The relevant team will reach out to you within one (1) working day.
For Individual KYC verification information, please refer to Individual KYC FAQ.