What is Bybit OTC Trading?

Over-the-counter (OTC) Trading on Bybit is conducted directly between two counterparties, distinguishing it from exchange-based trading. Prices are negotiated between these counterparties, and these transactions take place outside of the Bybit trading platform. It provides an alternative method for trading cryptocurrencies.

 

This service is primarily designed for users with substantial account balances and Bybit VIPs.

Who is eligible to use Bybit OTC Trading?

Users who have completed Individual KYC Lv. 1 are eligible.

Please note that Bybit OTC Trading is not available to users who have enabled Spot Margin or Institutional Lending users.

What are the differences between Bybit OTC Trading and Convert?

Key differences between Bybit OTC Trading and Convert:

 

Bybit OTC Trading:

• Preferred for more substantial trade sizes, providing access with confirmed prices without the need to engage with exchange orderbook liquidity.
• Offers more competitive pricing for substantial trades.

 

Convert:

• Primarily used for more modest conversion amounts

What coins are supported by Bybit OTC Trading?

Currently, Bybit OTC Trading supports the following conversions:

 

• You can convert your USDT to ETH or BTC, as well as USDC to ETH or BTC.
• Furthermore, you have the option to exchange ETH or BTC for USDT or USDC.
• You also have the option to convert between USDT and USDC.

 

Stay tuned for potential additions to the list of supported cryptocurrencies in the future.

Does Bybit OTC Trading support fiat-crypto conversion?

No, Bybit OTC Trading does not support fiat-crypto conversion through this feature. Please stay tuned for future updates regarding support for fiat-crypto conversions.

Are there any fees incurred for using Bybit OTC Trading?

No, there are no additional fees for using Bybit OTC Trading. 

Can I perform Bybit OTC Trading transactions using both the Main Account and Subaccount?

Yes, Bybit OTC Trading transactions are supported for both your Main Account and Subaccount.

How can I access Bybit OTC Trading?

Via Bybit App

Step 1: Tap on Bybit OTC Trading on the homepage to enter the Bybit OTC Trading page for your conversion. 

 

 

 

Step 2: On the Bybit OTC Trading page, you can perform the following steps:

1. Select the asset you want to perform the conversion on. 
2. Select the asset that you want to convert.
3. Enter the amount you want to convert and click on Convert.
4. Double-check that the details are correct and tap on Confirm.

 

 

 

 

Via Bybit Website

Step 1: Select Trade in the navigation bar and click on Bybit OTC Trading to enter the Bybit OTC Trading page.

 

 

 

 

Step 2: On the Bybit OTC Trading page, you can:

1. Select the coin you want to perform the conversion on. 
2. Select the asset that you want to convert.
3. Enter the amount you want to convert and click on Convert.
4. Double-check that the details are correct and click on Confirm.

 

 

Congratulations! Your assets have been successfully converted.

Can I use Bybit OTC Trading if I have Spot Margin enabled?

No, users with Spot Margin enabled cannot use Bybit OTC Trading. Please disable it before you perform OTC Trading.

 

 

How long does an OTC Trading conversion take to process?

The conversion via Bybit OTC Trading is processed immediately.

What are the minimum and maximum conversion amounts for Bybit OTC Trading?

The specific minimum and maximum conversion amounts can be viewed in the order zone.