Bybit Deposit and Withdrawal Guide: Turn Profits into USD, TWD, and Fiat Easily

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Navigating cryptocurrency exchanges can be overwhelming, especially when it comes to depositing and withdrawing funds. Bybit, one of the world’s leading crypto derivatives platforms, offers multiple flexible options for users to move money in and out securely. Whether you're a beginner or an experienced trader, understanding how to efficiently deposit and withdraw on Bybit—and convert profits into fiat like USD or TWD—is essential for smooth trading operations.

This comprehensive guide walks you through every step of the Bybit deposit and withdrawal process, including practical tips, risk considerations, and how to cash out your crypto earnings safely.

Understanding Bybit’s Deposit Methods

Bybit supports four primary ways to fund your account: Quick Buy, P2P Deposit, Fiat Deposit, and Wallet Transfer. Each method has unique advantages depending on your location, urgency, and asset type.

1. Quick Buy – Fast, Small-Scale Crypto Purchases

The Quick Buy feature allows users to instantly purchase cryptocurrencies using traditional payment methods such as credit cards. It functions similarly to a foreign exchange service, converting TWD (or other supported currencies) directly into digital assets like USDT.

👉 Discover how to start trading with fast, secure deposits today.

How It Works:

Pros & Cons:

💡 Best For: Small, time-sensitive purchases or users with high cashback credit cards.

Before completing your first transaction, Bybit performs a small authorization charge to verify card validity. This amount is refunded immediately and does not affect your balance.

Once verified, future purchases become seamless—just like online shopping.

2. P2P Deposit – Zero Fees, Flexible Payment Options

Peer-to-peer (P2P) trading enables direct transactions between buyers and sellers within the Bybit ecosystem. This method is particularly popular among Taiwanese users because TWD deposits via P2P incur no fees.

Step-by-Step Process:

  1. Go to the P2P section and select “Buy.”
  2. Input the desired amount of USDT.
  3. Browse available sellers offering TWD payment options (e.g., Line Pay, JKO Pay, bank transfer).
  4. Select a reputable seller and click “Buy USDT.”
  5. Follow the instructions to complete payment within 15 minutes.
  6. Confirm payment on Bybit; funds are released once the seller verifies receipt.
⚠️ Important: Ensure your phone number is verified in your Bybit account settings—otherwise, you may see “Conditions Not Met” errors during checkout.

Why Use P2P?

Risks to Consider:

Always review seller ratings and transaction history before proceeding.

3. Fiat Deposit – Limited Currency Support

Currently, Bybit's fiat on-ramp supports only select currencies like Brazilian Real (BRL) and Argentine Peso (ARS). Taiwanese Dollar (TWD) is not yet supported, so this option isn't viable for most local users at present.

However, keep an eye on future updates—Bybit frequently expands its fiat offerings based on regional demand.

4. Wallet Transfer – Ideal for Existing Crypto Holders

If you already hold crypto in another wallet or exchange, transferring directly to Bybit via blockchain is often the most cost-effective method.

Example: Transferring USDT via TRC20 Network

  1. In your Bybit wallet, locate USDT and select Deposit.
  2. Choose the TRC20 network (recommended for low fees and fast confirmations).
  3. Copy the deposit address provided.
  4. Log into your external wallet/exchange and initiate a withdrawal to the copied address using the same TRC20 network.
  5. Pay the gas fee (e.g., ~0.8 USDT), then wait a few minutes for confirmation.
🔄 Note: Bybit does not charge incoming transfer fees—you only pay gas on the sending side.

This method is perfect for consolidating holdings or moving funds from platforms with weaker trading tools.

Withdrawing Funds from Bybit

Just as important as depositing is knowing how to withdraw profits safely. Bybit offers two main withdrawal paths: P2P and blockchain transfers.

P2P Withdrawal – Convert Crypto Directly to TWD

You can reverse the P2P process to sell USDT and receive TWD directly into your bank account or mobile payment app.

The steps mirror those of P2P buying:

✅ Zero fees
⚠️ Always use highly rated counterparties to avoid fraud

Blockchain Withdrawal – Move Assets Elsewhere

To withdraw crypto off-platform:

  1. Navigate to Assets > Wallet.
  2. Click Withdraw.
  3. Select the token (e.g., USDT), enter the recipient address, choose the correct network (e.g., TRC20), and submit.

Bybit charges a small network fee (e.g., 1 USDT for TRC20 withdrawals), which varies by coin and chain.

👉 Learn how to securely manage your crypto withdrawals with expert tips.

How to Cash Out Crypto Earnings into TWD or USD

Many traders want to convert their profits into stable fiat currencies like TWD or USD. Here's how:

Option 1: ACE Exchange – Taiwan’s First Licensed Crypto Platform

ACE Exchange is fully compliant with Taiwan’s Financial Supervisory Commission (FSC) regulations under the "Virtual Asset Service Provider Registration Act." This makes it one of the safest options for converting USDT to TWD.

Steps:

  1. Transfer USDT from Bybit to your ACE wallet.
  2. Sell USDT for TWD on ACE’s spot market.
  3. Withdraw TWD to your linked bank account (free if using KGI Bank).

✅ Regulated and secure
✅ Seamless TWD conversion
✅ No fees for KGI transfers

Option 2: MAX Exchange – Largest Local Exchange in Taiwan

Founded in 2018, MAX Exchange is Taiwan’s largest domestic platform supporting TWD/crypto pairs.

Process:

✅ High liquidity
✅ Trusted by local investors
✅ Strong security protocols

Both ACE and MAX allow you to legally and securely cash out gains while complying with local financial regulations.

Frequently Asked Questions (FAQ)

Q1: Is Bybit legal for Taiwanese users?

A: Yes. While Bybit operates globally and is not locally regulated, Taiwanese users can legally trade on it. To cash out, use FSC-compliant platforms like ACE or MAX for fiat conversions.

Q2: Are there deposit fees on Bybit?

A: No. Bybit does not charge deposit fees for any method. However, third parties (e.g., credit card issuers, P2P sellers) may apply their own costs.

Q3: How long do blockchain transfers take?

A: Most deposits arrive within 5–15 minutes, depending on network congestion and confirmation times.

Q4: Can I use TWD directly on Bybit?

A: Not directly via fiat deposit—but yes via P2P trading, which fully supports TWD transactions with zero fees.

Q5: What’s the safest way to withdraw large amounts?

A: For large sums, use blockchain transfer to a regulated exchange like ACE, then convert to TWD with verified banking channels.

Q6: Does Bybit support USD withdrawals?

A: Not directly in fiat USD—but you can hold USDT (a USD-pegged stablecoin) or transfer assets to exchanges that support USD banking rails.

Final Thoughts

Bybit remains one of the top global exchanges—ranked second in derivatives trading volume—thanks to its powerful tools like unified margin accounts, advanced charting, and deep liquidity. Having operated since 2018, it has weathered major market crashes including FTX’s collapse and the Luna crash, proving its resilience.

Understanding how to effectively deposit, trade, and withdraw ensures you maximize both convenience and safety.

Whether you're using Quick Buy for speed, P2P for zero-fee TWD access, or wallet transfers for cross-platform flexibility, always prioritize security:

👉 Secure your crypto journey with professional-grade tools and insights.

Remember: While this guide provides accurate information for 2025, always double-check official sources before making financial decisions. Cryptocurrency investments carry high risk—conduct thorough research before participating.

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