Bybit is introducing a new withdrawal method called Internal Address Transfer, allowing users to instantly send assets to other Bybit accounts without incurring withdrawal fees. For transfers to external wallets or exchanges, users must opt for on-chain withdrawals.
Below is a step-by-step guide to withdrawing crypto via Internal Address Transfer on Bybit.
Step-by-Step Guide to Internal Address Transfer Withdrawals
Step 1: Navigate to the Withdrawal Page
- Open the Bybit App and tap Assets at the bottom-right corner.
- Select Withdraw from the "My Assets" page.
⚠️ Note: Withdrawals can only be processed from Funding or Spot Accounts. If your assets are in other accounts (e.g., Derivatives), transfer them first via Transfer.
Step 2: Select Your Cryptocurrency
Choose the coin/token you wish to withdraw (e.g., BTC, ETH).
Step 3: Submit Your Withdrawal Request
Fill in the following details:
- Withdrawal Method: Select Internal Address Transfer.
Recipient Account: Enter the recipient’s email, UID, or phone number.
- Pro Tip: Save frequent recipients to your address book by clicking Add.
- Amount: Enter the amount or tap All to withdraw the full balance.
- Double-check all details before confirming.
Step 4: Complete Security Verification
If your email/phone isn’t verified, complete:
Email Verification:
- Click Get Code and complete the slider CAPTCHA.
- Enter the 6-digit code sent to your registered email.
- Codes expire in 5 minutes (check spam folders if missing).
- Google Authenticator: Enter the 6-digit GA code.
Tracking Internal Transfer History
- Sender: Go to Withdrawal History → Internal Address Transfer - Withdrawal.
- Recipient: Check Deposit → Internal Address Transfer - Deposit Records.
👉 Learn how to enhance your Bybit account security
FAQs
Q1: Is Internal Address Transfer free?
A: Yes! Bybit charges zero fees for internal transfers.
Q2: Can I use this method for non-Bybit accounts?
A: No. Internal transfers only work between verified Bybit accounts. Use on-chain withdrawals for external wallets.
Q3: What if I enter the wrong recipient details?
A: Bybit will reject mismatched accounts. Always verify the email/UID/phone number before submitting.
Q4: How fast are internal transfers?
A: Transfers are instant—no blockchain confirmations needed.
👉 Explore Bybit’s withdrawal options
Key Takeaways
- Zero fees for intra-Bybit transfers.
- Requires email/GA verification for security.
- Instant processing (no network delays).
- Always confirm recipient details to avoid errors.