Here's a step-by-step guide to help make your first Fiat Pair trade easier. It will guide you through the whole process: deposit fiat currency, transfer fiat currency, place and view orders, and withdraw fiat currency.

 

Deposit Fiat Currency

Bybit provides a variety of fiat deposits to make it easier for you to trade instantly via Fiat Balance. The procedures for depositing funds in different fiat currencies are slightly different. For more details, please visit here.

 

Transfer Fiat Currency

Your fiat currency deposit will be credited to your Funding Account. Before placing an order, please transfer the fiat currency from your Funding Account to your Spot Account. 

 

Step 1: On the Funding Account Assets page, click on Transfer in the column of the fiat currency you want to transfer. 

 

Step 2: Make sure the selected accounts and fiat currency are correct, then enter the amount to be transferred. Next, click on Confirm.

 

Place and View Your Order

Please Click on Trade → Spot Trading in the navigation bar, and then select the respective Fiat to start your transaction. 

 

Take USDT/EUR as an example:

If the current price of USDT is 0.95 EUR. Traders can buy 100 USDT with 95 EUR or sell 100 USDT into 95 EUR.

 

Trader A buys 100 USDT using a Market Order with EUR.

Trader B sells 100 USDT using a Limit Order to EUR.

 

Taker's Fee for Trader A = 100 USDT x 0.1% = 0.1 USDT

Maker's Fee for Trader B = 95 EUR x 0.1% = 0.095 EUR

 

After the order is filled:

Trader A buys 100 USDT with a Market Order, so he will pay a Taker's Fee of 0.1 USDT. Therefore, Trader A will receive 99.9 USDT.

Trader B sells 100 USDT with a Limit Order, so he will pay a Maker's Fee of 0.095 EUR. Therefore, Trader B will receive 94.905 EUR.

 

Note:

— To learn more about how to place Spot orders, please refer to How to Get Started With Spot Trading.

— Fiat trading will incur the same fees as spot trading. Please consult this article for more information : Spot Trading: Fees explained.

 

To view your order details or trade history, please check under the Current Orders, Past Orders or Trade History columns in the position zone. 

 

Withdraw Fiat Currency

To withdraw your fiat currency, please go to Funding Account → Fiat Withdrawal. The procedures for withdrawing funds in different fiat currencies are slightly different. For more details, please visit here.

 

Please note that the fiat trading pairs you trade may not be supported in Fiat Withdrawal yet. You can check the supported coin on the Fiat Withdrawal page.