What is KYC?

KYC (Know Your Customer) or KYB (Know Your Business) guidelines for financial services require that professionals verify the identity, suitability, and risks involved to minimize the risk to the respective account. 

Why is KYC required?

We must carry out KYC on all our traders under Dutch legislation and regulations, including the Wwft. Bybit (powered by SATOS) uses KYC to get to know its users and their intentions on the platform. These verifications are necessary to improve security compliance and help keep our platform safe.

How do you submit a request for Know Your Business (KYB) verification?

To proceed with the KYB verification, please submit all the required documents via our secured portal, Business KYC Verification, by clicking the Verify Now button.

 

 

 

Below are the required documents to proceed with the verification. 

 

 

Please note that the Bybit website only accepts documents from the applying business entity. We will contact you regarding the remaining records, such as the annual accounts and organization documents. After all documents are approved, we will invite a UBO (or board member) to a brief meeting to discuss the provided documents and ID verification.

 

 

 

Which Bybit (powered by SATOS) products and services are unavailable to corporate users?

Products and services listed below do not apply to corporate users:

1. Launchpool

2. Buy Crypto via Fiat-related Services, except for EUR deposits and withdrawals (P2P Trading, Credit Card Payment, etc.)

 

Please refer here for more information regarding the benefits of different KYC levels.

 

 

 

What are the daily withdrawal limits after my company completes KYB Verification?

Please refer to the following withdrawal limits for each KYB level:

 

Note:
— The daily withdrawal limit is updated every 12 AM (midnight) UTC.
— There is no monthly withdrawal limit for users who have completed KYB verification.

Can I have both KYC and KYB verified simultaneously on a single account?

No. You can only verify one type of verification per account. If you register for KYB with an individual account, we will remove your KYC status after approval. Register another Bybit account and re-verify KYC for available products for individuals.

How should I contact customer support if I have questions that need clarification before submitting the documents?

You can write to us at kyb@satos.eu, and we will assist with your inquiry as soon as possible. Alternatively, you can reach out to our live chat support.

Note: You can only start KYB applications via our Business KYC Portal. If you do not have a Bybit account, you must register and submit the documents via the portal.

How will the company and individual information submitted be used?

We use the information you submit to verify the identity of the company and individual(s). We will keep company and individual documents confidential.

What kind of Proof of Identity documents are accepted?

Bybit (powered by SATOS) only accepts documents issued by your country of origin that contain the following information:

• Photo;

• Name;

• Date of birth;

• Document number;

• Date of issue.

 

These include passports, identity cards, residence permits, and driving licenses. Student Visas, Working visas, and Travel Visas are not accepted. 

 

 

 

What kind of Proof of Address documents are accepted?

The date on the proof of Address must be within the last three months; We do not allow older documents. 

The Proof of address documents accepted by Bybit (powered by SATOS) include:

1. Utility bills 

2. Official bank statements

3. Residential proof issued by the government 

4. Internet/cable TV/house phone line bills

5. Municipal/governmental letters

6. Government-issued certificates of residence, etc.

 

Bybit (powered by SATOS) does not accept the following types of documents as Proof of Address:

1. Domestic Passport

2. Mobile phone statement

3. Medical bills

4. Bank or company referral letter

5. Handwritten invoice/receipt for purchases

 

 

 

What should I do if the verification link does not work and I cannot submit the identity documents to complete the KYB verification?

If you encounter any issues with the verification link generated via email, please reply to the ongoing email thread with a screenshot of the error messages (kyb@satos.eu).

 

 

 

Do Service Restricted Country prohibitions only apply to the Company's registered address?

No. Service-restricted country proscriptions apply to the entity's registered country and UBO's nationality or residency. The verification result may vary depending on the nature of the institution and the shareholding structure. Bybit reserves the right to make the final decision on verification approval. 

 

 

 

How long does the KYB verification process take?

Generally, the KYB verification process takes approximately seven business days. However, due to the complexity of information verification, it may take longer.

What should I do if I have not received any response for over three working days?

If you encounter any issues with KYC verification, kindly contact us by submitting a case to our Customer Support. Once you submit the case, you’ll receive an automated email stating the case number. The relevant team will contact you within  3 - 7 working day. 

For Individual KYC verification information, please refer to the Individual KYC FAQ.