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Gungun Bhatia
Dec 9, 2022
by Gungun Bhatia

Bybit Offers New KYC Rules for P2P trading, Fiat deposits And NFT Trades

Bybit KYC

Table of contents

  1. Bybit KYC Rules for P2P Trade, Fiat Deposits, and NFT trades
  2. Employee Reduction by Bybit
Bybit, a cryptocurrency exchange, will start requiring enhanced Know-Your-Customer (KYC) verification checks for different items like P2P Trading,  NFT trades, and much more on December 15.

Bybit KYC Rules for P2P Trade, Fiat Deposits, and NFT trades

According to a recent article in the exchange's help center, personal KYC will be required for all one-click buys, fiat deposits, and peer-to-peer trading on Bybit, as well as for NFT purchases and sells of over $10,000 on the private market.

Starting on December 30, NFT deposits, withdrawals, and purchases from the main market will all be subject to mandatory KYC. The maximum withdrawal amounts for non-KYC users are 20,000 USDT per day and 100,000 USDT per month, with the withdrawal limitations for each KYC level changing on December 20.

Employee Reduction by Bybit

Cryptocurrency trades and deposits remain unaffected, but the exchange warns that it may further extend KYC requirements in the coming years.

Bybit will make more employee reductions in an effort to focus its efforts in the wake of a bear market that is growing more severe, CEO Ben Zhou announced on Twitter on Sunday. The same day, a screenshot of a message from the company's internal messaging system was making the rounds in Telegram group chats, in which Zhou said that the layoffs would touch 30% of the employees.

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Bybit know-your-customer (KYC) NFT Trades Fiat deposits peer-to-peer trading
Bybit Offers New KYC Rules for P2P trading, Fiat deposits And NFT Trades
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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