I read Bybit’s platform terms and withdrawal fees on November 14, 2026: who is excluded, what USDT costs on each network, the 2025 hack and the ID rules.
Bybit is a big exchange that a large part of its own search traffic cannot use. Its platform terms shut out the United States, Canada, Australia and France.
If you live somewhere it does serve, the numbers are decent. USDT leaves for 0.07 on Polygon, and the terms never mention gambling. The other thing to know is the $1.5 billion hack of February 2025.
- Type
- Centralized exchange for spot trading, derivatives and crypto withdrawals
- Operator in the terms
- Bybit Technology Limited, terms effective October 16, 2026, governed by Singapore law
- Not available in
- United States, Canada, Australia, France, Singapore, Hong Kong, mainland China and several sanctioned regions
- EU arm
- Bybit EU, MiCA licence from Austria’s FMA reported May 29, 2025
- Spot trading fee
- 0.1% maker and taker on crypto pairs for regular users
- USDT withdrawal
- 0.07 on Polygon, 0.15 on BNB Smart Chain, 0.8 on Ethereum, 1.3 on Tron
- Biggest incident
- About $1.5 billion stolen on February 21, 2025, attributed by the FBI to North Korea
My Verdict
Where Bybit is allowed, it is a reasonable way to move stablecoins to a casino. Polygon and BNB Smart Chain keep the cost under 20 cents.
It is not my first choice. Binance and Kraken send Bitcoin for less, and the 2025 hack ranks among the largest crypto thefts on record.
What I Like
- USDT on Polygon withdraws for 0.07 USDT
- SOL leaves for 0.001 SOL, about seven cents
- The platform terms contain no clause about gambling
- A licensed EU company exists for residents of the EEA
What I Dislike
- Closed to players in the US, Canada, Australia and France
- About $1.5 billion stolen from its wallets in February 2025
- Bitcoin withdrawals cost 0.000057 BTC, nearly three times Binance
- USDT on BNB Smart Chain needs a 10 USDT minimum
Who Can Open a Bybit Account
Bybit is a centralized exchange. It holds my coins in an account it controls, so its terms decide who may use it.
The platform terms I read on November 14, 2026 come from Bybit Technology Limited. They list the Excluded Jurisdictions, places where Bybit does not offer services or products.
| Where you live | Bybit status in the terms |
|---|---|
| United States | Excluded |
| Canada | Excluded |
| Australia | Excluded |
| France | Excluded from the global platform |
| Singapore, Hong Kong, mainland China | Excluded |
| North Korea, Cuba, Iran, Sudan, Syria, Uzbekistan | Excluded |
| Crimea and occupied areas of Donetsk, Luhansk, Kherson, Zaporizhzhia | Excluded |
| EU and EEA countries | Served by the separate Bybit EU company |
The list ends with a catch. Bybit may add any other place it chooses, at its sole discretion. The terms also ask users to tell Bybit if they move into an excluded country.
A VPN does not change where you live. Bybit asks for identity documents and a home address. An account opened from an excluded country can be frozen with the money inside.
What Bybit Costs on November 14, 2026
Spot trading costs 0.1% for regular users, for both maker and taker orders on crypto pairs. Fiat pairs cost more, with a 0.2% taker fee below $100,000 of monthly volume.
I read the withdrawal fees from the public Bybit deposit and withdrawal status page around 22:15 UTC. Dollar values use CoinGecko prices at 22:19 UTC the same evening. Bybit shows the final fee before I confirm.
| Coin and network | Bybit withdrawal fee | Minimum withdrawal |
|---|---|---|
| USDT on Polygon | 0.07 USDT | 1 USDT |
| USDT on BNB Smart Chain | 0.15 USDT | 10 USDT |
| USDT on TON | 0.15 USDT | 1 USDT |
| USDT on Solana | 0.5 USDT | 10 USDT |
| USDT on Ethereum | 0.8 USDT | 6 USDT |
| USDT on Tron | 1.3 USDT | 2.6 USDT |
| SOL | 0.001 SOL (about $0.07) | 0.03 SOL |
| XRP | 0.2 XRP (about $0.18) | 1.2 XRP |
| ETH on BNB Smart Chain | 0.0002 ETH (about $0.35) | 0.0002 ETH |
| ETH on Ethereum | 0.0003 ETH (about $0.53) | 0.0015 ETH |
| BTC | 0.000057 BTC (about $3.64) | 0.00027 BTC |
Bitcoin is the weak spot. Binance and Kraken both charged 0.00002 BTC when I read them on November 13, about $1.28 at the same price. KuCoin charged 0.00009 BTC, so Bybit sits in the middle.
Stablecoins look better. Tron costs 1.3 USDT here, against 2 USDT at Binance and 1 at Kraken. I compare every exchange on my crypto exchanges page.
Sending Coins From Bybit to a Casino
The cheapest route only works if the casino cashier lists the same network. I matched Bybit’s fees against the USDT networks I recorded for each casino on November 14, 2026.
| Casino | USDT networks listed | What I would send from Bybit |
|---|---|---|
| Stake | Ethereum, BNB Smart Chain, Polygon, Tron, Solana | USDT on Polygon, 0.07 fee |
| Sportsbet.io | Ethereum, Tron, BNB Smart Chain, Polygon | USDT on Polygon, 0.07 fee |
| Bitcasino.io | Ethereum, Tron, Polygon, BNB Smart Chain | USDT on Polygon, 0.07 fee |
| CoinPoker | Polygon among others | USDT on Polygon, 0.07 fee |
| BetLabel | Tron, Ethereum, BNB Smart Chain, Solana, Optimism | USDT on BNB Smart Chain, 0.15 fee |
| BillyBets | Ethereum, Tron, BNB Smart Chain, Solana | USDT on BNB Smart Chain, 0.15 fee |
| 7Bit | Ethereum, Tron | USDT on Ethereum, 0.8 fee |
Zero fees on networks nobody accepts. Bybit lists a 0 USDT fee on Mantle and HyperEVM, both USDT0 routes. None of the casinos above showed those networks in their cashier, so the free route leads nowhere.
Polygon USDT now runs as USDT0, and my guide to USDT casinos explains what that changes. Always pick the same network in the Bybit form and the casino cashier.
Bybit in the EU: A Separate Company
Residents of the European Economic Area do not use the global platform. They are served by Bybit EU instead. Cointelegraph reported on May 29, 2025 that Austria’s Financial Market Authority licensed it under MiCA.
The report says the licence lets one company serve the EEA from Vienna. France is on the global exclusion list, so French players should check what Bybit EU offers them.
I read only the global terms for this review. If you live in the EU, read Bybit EU’s own terms and fee list before you deposit. Products and prices can differ.
The $1.5 Billion Hack in February 2025
On or about February 21, 2025, attackers stole about $1.5 billion in virtual assets from Bybit. The FBI said so in public service announcement I-022625-PSA on February 26, 2025.
The FBI named North Korea as responsible and called the activity TraderTraitor. It asked businesses to block transactions linked to the addresses used to launder the stolen funds.
The theft hit the exchange itself. The lesson for a player is simple. Coins sitting on any exchange depend on that exchange’s security, so I move them on quickly.
Is Bybit Safe and Legit?
Bybit is a real, operating exchange with a licensed EU company. Its status page showed Bitcoin withdrawals as normal when I read it on November 14, 2026.
Safe is a different question. One of the largest crypto thefts on record hit Bybit in 2025. Its global entity answers to Singapore law and to arbitration in Singapore, which is far from most players.
I treat Bybit like every exchange. I keep only what I am about to send, and I turn on two-factor authentication. I store the rest in a wallet I control.
What the Terms Say About Gambling and ID Checks
I searched the full platform terms for gambling, casino and betting. None of the three words appears. That differs from Kraken and KuCoin, whose terms name gambling directly.
No clause is not a promise. Bybit can still restrict an account it sees as risky, and its terms reserve a wide right to do so.
The terms also list what Bybit may ask for. It names government-issued identification, biometric checks such as a liveness video or photo, and the source of funds. Enhanced checks can add transaction records and explanations at Bybit’s discretion.
An exchange account is never anonymous. If privacy is your goal, read my page on when each casino asks for ID. The exchange side of the trip is fully identified.
How I Use Bybit as a Player
- Before I sign up, I check that my country is not an Excluded Jurisdiction.
- I finish the identity check at once, so a withdrawal never waits on documents.
- I open the casino cashier first and note which USDT networks it accepts.
- I pick Polygon when the casino lists it, then BNB Smart Chain, and Ethereum last.
- I send a small test amount above the Bybit minimum before the full sum.
- I bring winnings back the same way and follow my guide to cashing out crypto.
When I Would Pick Another Exchange
I would pick Binance outside the EU when cost matters most. Its USDT on BNB Smart Chain cost 0.01, and Bitcoin cost a third of Bybit’s fee.
I would pick Kraken in the EU when I want euros back in a bank account. Its SEPA withdrawal cost 1 euro when I read it.
I would skip Bybit entirely in the US, Canada, Australia or France. The terms rule those players out, so the fee table above does not apply to them.
Bybit FAQ
Is Bybit safe to use?
Bybit is a licensed, operating exchange, but it lost about $1.5 billion to a hack in February 2025. I keep only the coins I am about to send there.
Is Bybit available in the United States?
No. The United States is on the Excluded Jurisdictions list in the platform terms effective October 16, 2026.
Can I use Bybit in Canada or Australia?
No. Both countries are on the same exclusion list, together with France, Singapore and Hong Kong.
Who runs Bybit in the EU?
A separate company, Bybit EU, serves the European Economic Area. Cointelegraph reported its MiCA licence from Austria’s FMA on May 29, 2025.
What happened in the Bybit hack?
About $1.5 billion in virtual assets was stolen on or about February 21, 2025. The FBI attributed it to North Korea and called the activity TraderTraitor.
How much does Bybit charge to withdraw USDT?
It charged 0.07 USDT on Polygon and 0.15 on BNB Smart Chain on November 14, 2026. Ethereum cost 0.8 and Tron 1.3.
Which network is cheapest for sending USDT from Bybit to a casino?
Polygon, at 0.07 USDT with a 1 USDT minimum. Stake, Sportsbet.io and Bitcasino.io list Polygon in their cashiers.
Does Bybit ban gambling deposits?
Its platform terms do not mention gambling, casinos or betting. Bybit can still restrict an account it considers risky.
Does Bybit require ID verification?
Yes. The terms name government ID, biometric checks such as a liveness video, and the source of funds.
Is Bybit cheaper than Binance?
Not overall. Binance was cheaper for USDT on BNB Smart Chain and for Bitcoin, while Bybit was cheaper for USDT on Tron.
