Bybit introduces new KYC requirements for P2P trading, fiat deposits and NFT trades

Quick Take

  • Bybit will require updated KYC verification checks for various products from Dec. 15.

Crypto exchange Bybit will require updated Know-Your-Customer (KYC) verification checks for various products from Dec. 15.

Bybit's one-click buys, fiat deposits and peer-to-peer trading will require individual KYC, as will NFT purchases and sales of more than $10,000 on the secondary marketplace, according to a new post in the exchange's help center.

NFT deposits, withdrawals and purchases from the primary marketplace will have compulsory KYC enforced from Dec. 30.

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Withdrawal limits for each KYC level will also change on Dec. 20, with non-KYC users able to withdraw a maximum of 20,000 USDT per day and 100,000 USDT per month.

Crypto deposits and trading appear to be unaffected, though the exchange notes that it "may further expand KYC requirements in the near future."


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About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].

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