Bybit KYC Verification 2025: Step-by-Step Guide & Alternatives
Bybit KYC Verification: Complete Guide for 2025
Introduction to Bybit's KYC Process
Bybit is one of the leading cryptocurrency exchanges, offering leverage trading, spot trading, and various financial products like copy-trading or staking. To comply with global regulations and improve security, Bybit requires users to complete KYC (Know Your Customer) verification. Bybit is positioning itself as a digital bank and therefore wants to comply with all regulators globally. For professional traders this can be beneficial, however, if you live in a restricted country it means that you’re not able to use Bybit or all the functionalities Bybit offers. In this article, we’ll go over everything you need to know about the Bybit KYC process and any alternatives if you’re living in a restricted country.
Why Is KYC Important?
There are two main benefits to completing KYC (Know Your Customer) verification.
1. For the trader:
KYC increases account security. When an exchange complies with your country's regulations, it is more responsible for following local laws and protecting your data. Linking your account to your identity also adds a layer of protection against identity theft.
2. For the exchange:
KYC allows the platform to operate legally in multiple countries by meeting regulatory requirements. This helps ensure long-term stability and trust in the platform.
Bybit KYC Levels and Their Benefits
Bybit offers multiple KYC levels with different benefits:
Level 1 (Basic Verification) Passport
- Withdrawal limit: $1M daily.
- Crypto & FIAT Withdrawal and deposit supported
- Access to fiat deposits and withdrawals.
- Eligible for certain promotions.
Level 2 (Advanced Verification) Passport & Proof of Address
- Withdrawal limit: $2M daily.
- Crypto & FIAT Withdrawal and deposit supported
- Additional security measures for high-volume traders.
- Exclusive VIP benefits and bonuses. (Depending on Trading Volume)
Step-by-Step Guide to Completing KYC on Bybit
Follow these steps to verify your account:
1. Accessing the Verification Portal
- Log in to your Bybit account.
- Navigate to Account & Security > Identity Verification.
2. Submitting Required Documents
- For Level 1: A government-issued ID (passport, driver’s license, or national ID card).
- For Level 2: Proof of address (utility bill, bank statement, or tax document issued within the last 3 months).
3. Verification Timeline
- Most verifications are processed within 30 minutes to 24 hours.
- Ensure documents are clear, valid, and match your account details.
Using a Palau ID for KYC on Bybit
What is a Palau Digital ID?
The Palau e-Residency program offers a digital ID that some users attempt to use for exchange verification.
Can You Use a Palau ID for Bybit KYC?
- Currently, some users report successfully verifying Level 1 KYC with a Palau ID.
- However, this may not be officially supported by Bybit, and there is no guarantee of approval.
- If rejected, you may need a standard government-issued ID from your country.
How to Get a Palau Digital ID
- Visit the Palau e-Residency website.
- Submit an application and required documents.
- Pay the registration fee (~$200).
- Receive your digital ID within a few weeks.
Is Using a Palau ID for KYC a Legal Gray Area?
- While legal to obtain, using it for KYC depends on the exchange’s acceptance policy.
- Always verify compliance with Bybit’s latest rules and your local laws in your country of residence.
Alternatives If You Can't Complete KYC on Bybit
If Bybit's KYC isn't an option for you, consider these alternatives:
1. Apex Omni (No-KYC, DEX)
- Fully decentralized; no KYC required.
- It’s built by Bybit (Similar look and feel)
- Offers perpetual contracts like Bybit.
2. Bitunix (No-KYX, CEX)
- Don’t need to KYC verify your account
- Offers futures trading similar to Bybit.
- Lower trading fees than some competitors.
- Create an account and receive various deposit bonuses
3. Other No-KYC Crypto Exchanges
KYC Restrictions by Country
Bybit has specific restrictions in certain regions, which may affect your ability to complete the KYC process. Here are some countries where KYC verification may be challenging or where Bybit services are restricted:
- United States
- China
- Canada
- North Korea
- Iran
- The Netherlands
If you reside in one of these countries, you might consider using alternative exchanges like Apex Pro or Bitunix, which offer similar features without stringent KYC requirements. For a complete overview, please refer to Bybit's list of restricted countries.
Common Issues and Troubleshooting
- KYC Rejected? Ensure your documents are clear and unedited.
- Long Processing Time? Contact Bybit support after 24 hours.
- Address Not Accepted? Use a bank statement or utility bill with a clear address.
Tip: If you connect your bank account to Bybit, ensure that the name on your passport matches the name registered with your bank. Using a bank account under a different name may result in rejection by Bybit.
Final Thoughts
Bybit KYC verification is crucial for unlocking the full potential of your account. If you prefer trading without KYC, Apex Omni and Bitunix are strong alternatives. Depending whether you want to trade on a centralised or decentralised exchange. Always stay updated with Bybit’s latest policies to ensure a smooth verification process.
FAQs on Bybit's KYC Process
Q: Can I withdraw from Bybit without KYC?
A: No, you can’t use the platform without KYC verification
Q: Is Bybit KYC mandatory for trading?
A: Yes, you need to KYC verify your account for every feature of Bybit
Q: Can I use a Palau ID for Bybit?
A: Some users have successfully used it, but it's not officially recognized.
🔹 Ready to start trading? Sign up on Bybit now.
🔹 Looking for no-KYC alternatives? Trade on Apex Omni.
Related Articles:
- How to use Bybit in the US
- Bybit Webhook Tutorial
- Bybit Deposit Bonus Guide