How to Open and Fund Your Bybit Account: A Complete Setup Guide

If you're getting into crypto trading or arbitrage strategies, having a properly configured exchange account is your first essential step. This guide walks you through setting up a Bybit account from scratch, including identity verification, two-factor authentication, and depositing USDT. Let's get your account ready for trading in just a few minutes.

Why These Setup Steps Matter

Before diving into crypto trading, you need three things in place: a verified account, enhanced security measures, and funds ready to trade. Skipping any of these steps means you'll hit roadblocks later when you're ready to execute trades or use advanced features like futures trading and arbitrage bots.

The good news? The entire process takes less than 30 minutes if you have your documents ready.

Creating Your Bybit Account

The registration process is straightforward whether you're using mobile or desktop. We'll focus on the mobile app here since most traders prefer managing their accounts on the go.

Important note for Hong Kong users: Make sure you register on the international version at bybit.com to access futures trading features.

After downloading the Bybit app, tap the registration button on the home screen. You'll need to provide either an email address or phone number along with a secure password. Once you've filled in these details, the system sends a verification code to your chosen contact method.

Check your email inbox or text messages for the code, enter it back into the app, and you're officially registered. The verification code typically arrives within seconds, though occasionally it might take a minute or two.

For those who prefer working on desktop, Bybit's official help center provides detailed computer-based registration instructions, though the mobile experience is generally more intuitive.

Completing Identity Verification

Now comes the part where you prove you're a real person. Have your government-issued ID ready before starting this section.

👉 Get started with verified crypto trading on Bybit's secure platform

Identity verification, also known as KYC (Know Your Customer), is required by most reputable exchanges for regulatory compliance. The process involves uploading photos of your identification document and sometimes a selfie for facial verification. Bybit's system usually processes verification requests within a few hours, though it can take up to 24 hours during busy periods.

The verification interface guides you through each step clearly. Make sure your ID photos are well-lit and all text is clearly readable to avoid delays or rejections.

Setting Up Google Two-Factor Authentication

Security should be your top priority when handling digital assets. Two-factor authentication (2FA) adds a crucial extra layer of protection beyond just your password.

Before starting this process, download Google Authenticator on your mobile device if you haven't already. This free app generates time-based verification codes that refresh every 30 seconds.

In the Bybit app, tap your profile icon in the top-left corner, then navigate to Security Settings. Look for the Google Authentication option and tap to enable it. The app displays a setup key that you'll need to copy and add to your Google Authenticator app.

Critical step: Save this setup key somewhere secure, like a password manager. If you lose access to your phone, this key is your only way to recover 2FA access to your account.

After adding the key to Google Authenticator, you'll see a six-digit code appear. Return to Bybit and enter this code to complete the setup. From now on, you'll need both your password and a fresh code from Google Authenticator whenever you log in or make important account changes.

This extra step takes less than two minutes but protects you from the vast majority of account compromise attempts.

Depositing USDT to Your Account

With your account verified and secured, you're ready for the final step: funding your account. USDT (Tether) is the most common stablecoin for crypto trading, maintaining a stable value pegged to the US dollar.

From the Bybit app home screen, tap the Deposit button. Select "Deposit Crypto" from the options, then choose USDT as your currency.

Here's where you need to pay close attention: selecting the correct blockchain network is absolutely critical. Different exchanges support different networks for USDT transfers, and choosing the wrong one means your funds could be permanently lost.

👉 Start funding your trading account with low-fee crypto deposits

Common networks include BSC (BEP20), Ethereum (ERC20), and TRC20. BSC generally offers the best combination of speed and low fees, with transfers completing in 5-10 minutes and costing just a few cents. Ethereum transfers are slower and can cost significantly more in network fees, while TRC20 sits somewhere in between.

Match the network exactly: Whatever network you select on Bybit must match the network you use when sending from your other exchange or wallet. This is the single most important rule for crypto transfers.

Once you've selected your network, Bybit displays a deposit address. Tap the copy button next to this address and paste it into the withdrawal interface of wherever you're sending funds from. Double-check that you've copied the entire address correctly before confirming the transfer.

After initiating the transfer, your USDT typically arrives within 5-10 minutes, though this varies by network. You can track the transaction status in your Bybit deposit history.

Account type reminder: Bybit deposits default to the Funding Account. For trading and using automated strategies, make sure you select "Unified Trading Account" as your deposit destination. This saves you from having to transfer funds between account types later.

You're Ready to Trade

Your Bybit account is now fully operational with verification complete, security enhanced, and funds deposited. You've got everything needed to start exploring crypto trading, whether you're interested in spot trading, futures, or automated arbitrage strategies.

The setup process we covered here forms the foundation for any crypto trading activity on Bybit. With your account properly configured, you can focus on learning trading strategies and market analysis rather than wrestling with technical account issues.

For traders interested in automated strategies, particularly arbitrage bots that profit from price differences between spot and futures markets, your next step would be setting up API keys and connecting trading automation tools. But that's a topic for another guide.