How to Withdraw Money from Bybit to Bank Account

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Withdrawing funds from a cryptocurrency exchange can sometimes be confusing—especially when the platform doesn’t support direct fiat withdrawals. Bybit is one of the most popular crypto trading platforms, known for its advanced trading tools and high liquidity. However, it does not allow users to directly withdraw fiat currency (like USD, EUR, or GBP) to a bank account. So, how do you get your money out?

The good news is that you can still transfer your funds successfully by using an intermediary exchange that supports fiat withdrawals. This comprehensive guide walks you through a secure, step-by-step process to withdraw money from Bybit to your bank account, leveraging trusted platforms like Kraken. Whether you're a beginner or experienced trader, this guide ensures clarity and confidence in every step.

Why Can’t You Withdraw Fiat Directly from Bybit?

Bybit operates primarily as a crypto-only exchange, meaning it facilitates trades between digital assets but does not offer traditional banking integrations. It lacks fiat on-ramps and off-ramps, so selling crypto for cash and withdrawing to a bank isn’t possible within the platform itself.

However, this limitation doesn’t block access to your funds—it just means you need to use a two-step strategy:

  1. Transfer your cryptocurrency from Bybit to another exchange that supports fiat.
  2. Sell the crypto for fiat and withdraw the cash to your bank.

This method is widely used across the crypto community and remains one of the safest ways to convert digital assets into usable currency.

👉 Discover how to move your crypto securely and start converting to cash today.

Step-by-Step Guide: From Bybit to Bank Account

Step 1: Choose a Crypto Exchange That Supports Fiat Withdrawals

Your first move is selecting a reliable exchange that allows you to sell crypto for fiat and withdraw to your bank. Look for platforms with strong security, low fees, regulatory compliance, and wide banking support.

Top recommended exchanges include:

For this guide, we’ll use Kraken as our example due to its reputation, transparency, and ease of use.

Step 2: Create an Account on the New Exchange

Head to Kraken’s official website and click “Create Account.” You’ll need to provide:

Once registered, confirm your email and log in to proceed.

Step 3: Verify Your Identity

Most regulated exchanges require identity verification (KYC) before allowing deposits, trades, or withdrawals. On Kraken, go to your profile and select “Get Verified.” You’ll typically need to submit:

Verification levels vary; aim for at least Intermediate level, which enables full deposit and withdrawal functionality.

👉 Learn how verified accounts unlock faster withdrawals and higher limits.

Step 4: Send Crypto from Bybit to Your New Exchange

Now that your account is ready, it’s time to transfer crypto from Bybit.

  1. In your Kraken dashboard, go to Funding > Deposit.
  2. Select the cryptocurrency you want to transfer (e.g., USDT, BTC, ETH).
  3. Choose the appropriate network (e.g., TRC20 for USDT—it has lower fees).
  4. Click “Generate Deposit Address” and copy the provided wallet address.

Next, log into Bybit:

  1. Go to Assets > Spot.
  2. Click Withdraw next to the asset you’re transferring.
  3. Paste the Kraken deposit address.
  4. Select the same network (e.g., TRC20).
  5. Enter the amount and confirm the transaction.

Always double-check the address and network—mistakes can result in permanent loss.

Step 5: Sell Crypto for Fiat Currency

After your crypto arrives in Kraken (usually within minutes), it’s time to convert it to fiat.

  1. Go to Buy Crypto in the top menu.
  2. Click the Sell tab beneath your balance.
  3. Choose the cryptocurrency (e.g., USDT) and enter the amount.
  4. Review the estimated fiat amount (e.g., USD).
  5. Click Confirm to complete the sale.

Your balance will now show in your local currency.

Step 6: Withdraw Funds to Your Bank Account

Final step: move the money to your bank.

  1. In Kraken, go to Funding > Withdraw.
  2. Select your fiat currency (e.g., USD).
  3. Choose your preferred method (bank transfer, SWIFT, SEPA, etc.).
  4. Enter your bank details.
  5. Confirm the withdrawal.

Processing times vary by region—typically 1–5 business days for standard transfers.

Frequently Asked Questions

Can I withdraw money from Bybit directly to my bank?

No, Bybit does not support direct fiat withdrawals. You must transfer your crypto to an exchange like Kraken or Uphold that allows bank transfers.

What is the fastest way to cash out from Bybit?

The fastest method is transferring stablecoins like USDT via TRC20 network to a verified account on Kraken or eToro, then selling and withdrawing via SEPA or domestic bank transfer.

Are there fees involved in withdrawing from Bybit?

Yes—fees occur at multiple stages: withdrawal from Bybit (network fee), potential conversion fees on the receiving exchange, and bank withdrawal fees. Using low-cost networks like TRC20 helps minimize costs.

Is it safe to transfer crypto from Bybit to another exchange?

Yes, as long as you use reputable exchanges and double-check wallet addresses. Always enable two-factor authentication (2FA) on all accounts.

Which crypto should I transfer from Bybit?

Stablecoins like USDT or USDC are ideal because they maintain a consistent value during transfer, reducing volatility risk compared to Bitcoin or Ethereum.

How long does the entire withdrawal process take?

Typically:

👉 Start converting your crypto to cash with confidence—secure your next move now.

Final Thoughts

While Bybit doesn't offer direct bank withdrawals, getting your money out is simple with the right tools and knowledge. By using a trusted intermediary exchange like Kraken, you maintain full control over your assets while ensuring a smooth transition from digital currency to real-world spending power.

Remember: always verify wallet addresses, choose low-fee networks, keep security enabled, and start with small test transfers if you're new to the process.

Whether you're cashing out profits or moving funds for personal use, this strategy ensures reliability, speed, and peace of mind in your crypto journey.

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