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How to Deposit Funds in ByBit

In this post, we are going to see the best options to deposit funds in ByBit without paying a lot of fees.

ByBit is one of the main exchanges, and it is becoming more and more popular, because they are adding more and more options and new cryptocurrency pairs. Even so, sometimes if you are new, it is difficult to know the best option to deposit funds and not lose too much in commissions or different payment methods. And this is what we are going to see next.

ByBit, allows users to buy cryptocurrencies with your credit card, although you are not going to directly enter euros or dollars, but the exchange is made directly to the selected cryptocurrency. Although this is one method, there are also other options that can be more economical. For now, let’s see how you can do it with your credit card, as it is the simplest way if you are new.

Where to buy cryptocurrencies in ByBit

We must go to buy crypto, and credit or debit card. You are going to see that there are different cryptocurrencies that you can buy, and they are adding more and more to make it simpler. The first thing you must do is select your currency, in my case euros in I want to sell.

With a minimum of 30 euros to buy cryptocurrencies. Then select the one you want to buy. The most common is to buy bitcoin, ethereum or tether. In my case, I will buy tether, as it is equivalent to one dollar and you will be able to prevent the price from fluctuating while you buy and sell it. Besides, tether will allow you to buy most of the other cryptocurrencies in ByBit. We indicate the cryptocurrency and the amount to see the different options that ByBit offers us to buy the cryptocurrency.

As you can see, in the case of usdt, there are two options, banxa and simplex. Banxa being the best option, with a commission close to 5%. Select the option you want, and click on confirm. Follow the steps with the information you will be asked to confirm the transaction and finally pay with your credit card.

Now, if they have confirmed your identity to avoid money laundering problems, you will have your usdt in your account. Although sometimes, as you can see, it can take a few hours, and therefore, it is better to buy USDT that has a stable price than bitcoin, where in these hours, the value of your purchase may have decreased.

From Binance to ByBit

Now let’s go with another cheaper alternative to deposit funds in ByBit, and that I personally use. Although it’s a bit more complex than just using your credit card, if you follow the steps, you’ll see that it’s simpler than it looks.

To do this, we are going to use Binance, another Exchange, to buy cryptocurrencies there and send them to ByBit. Binance’s commission for depositing with credit card is 1.8%, so you can really save by using this option, and not having to pay almost 5% in commission every time you want to deposit funds in ByBit. You can also deposit to binance and ByBit via wire transfer, but it will take a few days to have the balance available in your account.

If you don’t have an account with binance or ByBit, you can create your account just below.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

5/5

Con esto dicho, empecemos. El primer paso es depositar fondos en binance, ya sea euro dólares o tu divisa. La mejor forma para mí, es con la tarjeta de crédito, a pesar de tener un 1,8% de comisión, vamos a tener al instante los fondos para usar. Si quieres ahorrar en comisiones, puedes usar transferencia bancaria, pero tendrás que esperar algunos días que llegué tu deposito.

Con tu deposito, en mi caso euros, debemos comprar tether o USDT. Puedes comprar otra criptomoneda, pero tether es la criptomoneda equivalente al dólar y la más usada para comprar otras criptomonedas en la plataforma de ByBit, por eso, para mí, es la mejor opción. Para ello, iremos a mercado, mercados fiat, y buscaremos el par euros/usdt o con tu divisa. Aquí, iremos a vender y indicamos la cantidad que queremos cambiar de nuestra divisa por tether.

Para comprobar que ya tenemos usdt en nuestro balance, podemos ir al panel principal. Con los usdt en nuestro balance, para moverlos a ByBit, debemos dirigirnos a billetera, billetera spot y buscar usdt. Aquí, pulsar en withdraw o retirar, que te llevará al siguiente panel.

Aquí, lo primero debemos indicar la dirección de ByBit donde depositar tether. Para saber cuál es la dirección, debemos ir a ByBit y buscar usdt en la cuenta principal. Aquí, pulsa en deposit o depositar, y selecciona la red trc-20 o tron, ya que es la más económica.

Copia la dirección y pégala en binance. Selecciona la misma red tron trc-20, indica la cantidad que quieres enviar y confirma la transacción con los códigos de tu correo y móvil. Vas a ver la comisión, que en el caso de la red de tron, es de 1 dólar. Sobre todo, cuando copies la dirección en ByBit, fíjate indicar la red tron trc-20 y lo mismo en binance para evitar errores.

Con esto, pasado unos minutos deberías poder ver los usdt enviados en tu balance de la cuenta principal de ByBit. Ahora ya tendrás fondos para poder usar en ByBit y poder comprar cualquiera de las miles criptomonedas que tiene la plataforma.

Espero que te haya servido para poder depositar fondos en ByBit, sin pagar altas comisiones. Si no tienes una cuenta con alguno de los dos exchanges, puedes crear tu cuenta debajo.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

5/5
Buy and Sell in ByBit
Withdraw money on ByBit
Staking in ByBit
Futures in ByBit

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