Version 2, Dated 3 September 2025

 

 

1. Introduction and Scope

1.1. The following "Agreement for Exchanging Crypto-Assets for Funds or other Crypto-Assets" or "Agreement" supplements the "General Terms", which you can find here. In case of a conflict between the General Terms and this Agreement, this Agreement shall prevail. 

 

1.2. Contracting party. The services as agreed upon in this Agreement are provided by Bybit EU GmbH ("Bybit CASP", "we", "us") to persons that have registered an "Account" with Bybit CASP ("User", "you"). The counterparty for all transactions of "Crypto-Assets" on the "Platform" is exclusively Bybit CASP.

2. Amendments of the Agreement

2.1. Notification and Consent for Changes to the Agreement

Whenever we intend to implement a change, we will notify you on paper or on another durable medium about the proposed amendments. 

 

Changes to this Agreement will become effective upon the earlier of (i) your express acceptance of the amended Agreement or (ii) two months after the notification of the changes, unless you have objected to these changes.

 

2.2. Objecting to a change / termination of the contractual relationship

Whenever we notify you of any changes, we will also inform you, (i) that if you do not object in text form or on the Platform within the two months' time frame before the changes come into effect, you will be deemed to have consented to the changes, and that (ii) you have the right to terminate the entire or parts of your contractual relationship that relate to the change without any notice period until the changes take effect. You will still have access to your Account during this period.

 

2.3. Exceptions for Changes to Services and Fees

The preceding paragraphs do not apply to restrictions to the services of the Company and to the User's fees for existing products. 

3. Order Process

3.1. General. Using the Platform allows you to exchange (buy or sell) Crypto-Assets. Whenever you wish to exchange a Crypto-Asset for funds or other Crypto-Assets, you can place an order on the Platform. 

 

3.2. Invitation. Any figures, numbers, or reference prices on the Platform (including the Synthetic Liquidity View interface), do not constitute binding offers from Bybit CASP for any exchange but an invitation for you to submit an order.

 

3.3. To submit an order, you must (i) provide valid and correct data in response to each requirement on the Platform and (ii) click the relevant confirmation button for the order.

 

3.4. Timing of order. Orders are considered submitted at the time the User confirms the order by clicking the confirmation button on the Platform. For the avoidance of doubt, please note, that a Limit Order (as defined below) is only submitted once the requirements explained below are fulfilled.

 

3.5. Minimum transaction volume. In general, each order must have a minimum transaction value, which will be shown on the Platform before making an order. You will not be able to make an order that falls below the minimum transaction value. 

 

3.6. Limits. There is a limit of transactions, as well as amounts and numbers of exchanges of Crypto-Assets for funds or other Crypto-Assets to ensure market integrity, prevent market manipulation, and protect users. You can find a list of applicable exchange limits for different user categories and Crypto-Assets HERE. Any updates to the limits will be communicated in advance and published on the Platform.

 

3.7. The receipt of any order will be confirmed to you promptly directly on the Platform.

 

3.8. Modification / cancellation. The User may modify or cancel an order free or charge at any time before it is fulfilled. 

 

3.9. Factual fulfilment. Bybit CASP can either accept your order by factual fulfillment (tatsächliche Erfüllung) or reject it under certain limited circumstances, such as technical failures or potential cases of market manipulation. Factual fulfillment means the recording of the transaction data in the internal (i.e., "off-chain") register of positions ("Off-Chain Information Ledger").

 

3.10. Transaction information. Immediately after accepting or rejecting your order, Bybit CASP will inform the User thereof. In the case of acceptance of the order, Bybit CASP publishes the following details regarding your transactions on the Platform:

• Asset: The Crypto-Asset(s) involved in the transaction;

• Date: The date and time the transaction was fulfilled;

• Price: The price at which the transaction was completed;

• Volume: The number of Crypto-Assets involved in the transaction.

 

This information will be made available to Users through the Platform’s interface and can help with tracking the trade history and the performance of the orders. 

4. Spot Trading via Synthetic Liquidity View

4.1. Synthetic Liquidity View. Bybit CASP does not operate a trading platform for Crypto-Assets on the Platform and consequently, no orders are directly matched between market participants, but all transactions with the User are exclusively settled with Bybit CASP as counterparty. On the Platform there is the possibility to exchange Crypto-Assets for funds or other Crypto-Assets via the interface "Synthetic Liquidity View". The Synthetic Liquidity View is a display of available liquidity for the User to have a transparent view on the relevant markets and available prices. 

 

4.2. Pricing source. In the Synthetic Liquidity View interface, pricing data from multiple reputable liquidity providers and/or crypto exchanges is aggregated and used as a basis to determine prices for listed Crypto-Assets. Prices are based on market depth, trading volume, and real-time supply-demand dynamics.

 

4.3. Order Process. If you wish to enter into a transaction with Bybit CASP, you first need to submit an order whereby the principles described in Section 3 above on the order process will apply.

 

4.4. Order Types. There are several order types to accommodate different User preferences and market conditions, "Market Orders", "Limit Orders" "Stop Orders" and "Stop Limit Orders".

1. Market Order: A Market Order can be submitted by the User on the Synthetic Liquidity View and is filled immediately after submission at the best available price(s) for the prevailing available quantity in the Synthetic Liquidity View. 

   • Slippage. While a Market Order offers the benefit of quick fulfillment, the ultimate fulfillment price may vary due to market volatility and order size compared to depth of available liquidity at a given price. The price difference between the current market price on the Synthetic Liquidity View and the actual fulfillment price is referred to as "Slippage". Various factors influence Slippage, such as asset type, market volatility, order size, and available liquidity.

   • Slippage Control. To protect Users from extreme Slippage, Market Orders will only fill within a range of +/- 5% of the best current price shown at the time of order submission in the Synthetic Liquidity View. This means that if the order is fulfilled, the final fulfillment price will never differ from that price by more than 5%. If parts of the order would be fulfilled at a price outside the range of +/- 5 (unless "Fill or Kill" (as described in Section 4.5) was selected), such part of order is not filled. For the avoidance of doubt, an Order is not reinstated if the price subsequently moves back within the threshold.

2. Limit Order. A Limit Order can be created by the User on the Synthetic Liquidity View by setting a predetermined price, Crypto-Asset and quantity. Once the market price on the Synthetic Liquidity View reaches or exceeds the specified price ("Limit Price"), the Limit Order will automatically be submitted to Bybit CASP. The order is filled at that specified price or a better one. No Slippage might occur but the fulfillment of your Limit Order is less likely than a Market Order.
   
   Where a Limit Order is not filled immediately, it remains valid until the agreed expiry of the order (e.g. 30 days after submission). If no order validity time has been agreed, then the Limit Order is valid until cancelled ("good-till-cancelled"). Please note that it is possible that a Limit Order may be partially filled. If the market price does not reach or exceed the specified limit price, no fulfilment will take place.

3. Stop Order. A Stop Order is submitted by the User on the Synthetic Liquidity View and becomes a Market Order (according to Section 4.4.1 above), when a specific price level set by the User is reached on the Synthetic Liquidity View (the "Stop Price"). Once triggered, the Market Order is filled at the next available (best) price on the Platform. There are two types of Stop Orders:

   • a stop-loss order triggers a Market Order to sell when the market price drops below the Stop Price;

   • a buy stop order triggers a Market Order to buy when the price rises above the Stop Price.

4. Stop Limit Order. A Stop Limit Order is a combination of a Stop Order and a Limit Order and allows the User to set a Stop Price and a Limit Price. The Stop Price in a Stop Limit order serves as an activation or trigger point. Once the market price hits or falls below the Stop Price for a sell order (or reaches or rises above the stop price for a buy order), the Stop Limit Order is activated and converted into a Limit Order.
   
   The Limit Price in a Stop Limit Order determines the maximum or minimum price at which the User is willing to buy or sell the Crypto-Asset. Unlike a traditional stop order, in which the execution price is not guaranteed, a Stop Limit Order allows the User more control over the execution price by setting a specific limit. 

5. Partial filling / Fill or Kill. When submitting an order, the User can decide on the Platform between the option to have partial fillings of orders or a condition to fill the entire quantity of the order or otherwise to cancel the entire order ("Fill or Kill"). In case the User does not specify during the submission of the order, the order may be partially filled.

5. One-Click Buy Order / One Click Sell Order

5.1. On the Platform there is the possibility to receive a direct quote for an exchange of Crypto-Assets for funds or vice versa. To use this service, you must select the type and amount of a Crypto-Asset on the instant buy or sell interface. Bybit CASP can subsequently provide you with a non-binding, direct quote for your parameters on this interface. The quote is valid for a certain period as communicated to you on the interface.

 

5.2. You can submit an order for a One-Click Buy ("One Click Buy Order") or One Click Sell ("One Click Sell Order") transaction by confirming the transaction details on the direct quote Platform interface. Should you not confirm the order within the stated timeframe, the trading session will reset, the conditions (including the price) will be updated, and a new period for review and confirmation will begin.

 

5.3. Order period. Bybit CASP will, within 30 minutes of the submission of your order, decide to accept your order or, under certain limited circumstances, such as technical failures or potential cases of market manipulation decline it. During this 30-minute timeframe, you are bound by your order.

 

5.4. Bybit CASP can either accept your order or reject it (as described in the offer process above). If the order is accepted, the transaction will be factually fulfilled at that price. There are no partially filled One-Click Buy or Sell transactions. 

 

5.5. The funds used to settle your One-Click Buy Order can either be deducted form the balance available on your Account (existing balance) or can be directly paid via an ad-hoc card payment. 

6. Convert

6.1. On the Platform there is the possibility to receive a direct quote for an exchange of Crypto-Assets for another Crypto-Asset. In order to use this service, you must select the type and amount of a Crypto-Asset on the Convert interface. Bybit CASP can subsequently provide you with a non-binding, direct quote for your parameters on this interface. The quote is valid for certain period as communicated to you on the interface. 

 

6.2. You can submit an order for a Convert transaction by confirming the transaction details on the direct quote Platform interface ("Convert Order"). Should you not confirm the order within the stated timeframe, the trading session will reset, the conditions will be updated, and a new period for review and confirmation will begin.

 

6.3. Order period. Bybit CASP will, within 30 minutes of the submission of your order, decide,  either to accept your order or, under certain limited circumstances, such as technical failures or potential cases of market manipulation, decline it. During this 30-minute timeframe, you are bound by your order. 

 

6.4. Bybit CASP can either accept your order or reject it (as described in the offer process above). If the order is accepted, the transaction will be processed at that price. There are no partially filled Convert transaction (only Fill or Kill). 

7. Bybit Card

7.1 Introduction and Third-Party Issuer

Bybit CASP enables its Users to apply via the Platform for a debit payment card issued by Harmoniie SAS ("Bybit Card"). Please note that the Bybit Card is issued by Harmoniie SAS, not by Bybit CASP and Bybit CASP does not provide any payment services in relation to Bybit Card. The use of the Bybit Card is subject to the separate terms and conditions provided by Harmoniie SAS ("Harmoniie T&Cs”) which you can find here.

Bybit CASP does not act as an agent or distributor for Harmoniie SAS and assumes no responsibility for the actions and omissions of Harmoniie SAS and/or the other legal entities involved in providing the Bybit Card service as outlined in the Harmoniie T&Cs (including, but not limited to, blocking or canceling the User's Bybit Card). Bybit CASP's role is strictly limited to facilitating transactions initiated by using Bybit Card by (i) confirming, upon having received the forwarded request for authorization of the Bybit Card transaction, that the User has sufficient assets (i.e., fiat currency and/or Crypto-Assets) on the Platform available to fund the Bybit Card transaction, (ii) exchange a User's Crypto-Assets into fiat funds, if necessary to cover transactions made with the Bybit Card and (iii) paying out User's fiat balance on the Platform to the User's e-money account with Harmoniie SAS underlying the Bybit Card ("E-Money Account”), as instructed by the User according to the terms below.

7.2 Funding Hierarchy

When a transaction is initiated using the Bybit Card, the funds required to cover the User’s payment obligations resulting from the use of the Bybit Card (as laid out in more detail in Section 7.3; i.e., payment amount or cash withdrawal amount, in each case plus any charges or fees to be borne by the User pursuant to the Harmoniie T&Cs and/or Section 7.5, respectively) will be sourced in the following order:

1. First, the User's available fiat balance held in their "Funding Account" (i.e. a specific part of the User's Account), if any, is drawn upon.

2. If the User’s fiat balance is insufficient to cover the entire payment obligations, the shortfall will be covered by the automatic sale of supported Crypto-Assets (as published here and expanded or reduced from time to time in the discretion of Bybit CASP) held in the User's Funding Account as described in Section 7.3. The User may specify among the supported Crypto-Assets the priority in which the User’s Crypto-Assets shall potentially be liquidated in the context of a Bybit Card transaction, up to three Crypto-Assets. Until the User makes such selection, the default order of Crypto-Assets used is as follows: USDC, BTC, ETH.

Please note:

• Supported Crypto-Assets other than USDC, BTC or ETH would be drawn upon by Bybit CASP for funding a Bybit Card transaction only after the User has designated them for being available for such purpose.

• Bybit CASP would have to deviate from the liquidation priority (as specified by default or by the User) if the available amount of a Crypto-Asset having priority is not at least equivalent to EUR 1 (calculated using the exchange rate applicable to the respective One Click Sell Order as described in Section 7.3).

 

7.3. Bybit CASP's activities in relation to a transaction initiated with the Bybit Card:

When a transaction with the Bybit Card is initiated (e.g., by using it at an ATM or at a merchant (online or offline)), the so-called "Issuer Processor" (i.e., a technical service provider that supports Harmoniie SAS as the issuer of the Bybit Card in processing Bybit Card transactions) forwards the request for authorization of the Bybit Card transaction ("Authorization Request") to Bybit CASP and asks for confirmation as to whether the respective User's Funding Account contains sufficient assets (i.e. fiat balance and/or Crypto-Assets that can be liquidated as described in Section 7.2) to cover the amount that is the subject of the authorization request ("Authorization Amount").

If, at the time Bybit CASP receives the Authorization Request, the User has sufficient assets to cover the Authorization Amount and any fees to be retained by Bybit CASP in accordance with Section 7.5, Bybit CASP shall be deemed to have been instructed by the User to:

(i) notify the Issuer Processor whether or not sufficient funding is available,

(ii) if sufficient funding is available but the User’s available fiat balance, if any, is not sufficient to fully cover the Authorization Amount, to execute one or more One Click Sell Order(s) (as described in Section 5 and below) (whereby Bybit CASP is entitled to retain the fees in accordance with Section 7.5) in relation to such number of User's supported Crypto-Assets as required to cover the difference between the available fiat balance and the Authorization Amount (plus fees to be levied by Bybit CASP in accordance with Section 7.5), and

(iii) to reserve from the fiat balance available in the User's Funding Account an amount equal to the Authorization Amount ("Blocked Amount") by blocking such amount from use by the User until the actual settlement of the Bybit Card transaction or for a period of between 7 and 30 days (depending on the request received by Bybit CASP from the Issuer Processor).

If and when the Bybit Card transaction is finally to be settled, the Issuer Processor forwards the so-called "Capture Request" (i.e., the ATM operator/merchant/service provider's request for payment) to Bybit CASP. Receipt of the Capture Request by Bybit CASP shall be deemed an instruction by the User to Bybit CASP to:

(a) if the available fiat balance in the User’s Funding Account is not sufficient to cover the amount specified in the Capture Request ("Capture Amount"), to execute one or more One Click Sell Orders (whereby Bybit CASP is entitled to retain the fees in accordance with Section 7.5) in relation to such number of User's supported Crypto-Assets so that the sale proceeds (less the fees charged by Bybit CASP for such One Click Sell Order(s)) together with any existing fiat balance in the User's Funding Account (including the Blocked Amount) equal the Capture Amount,

(b) to pay out from the fiat balance in the User's Funding Account an amount equaling the Capture Amount into the E-Money Account underlying the Bybit Card, and

(c)  to unblock any remainder of the Blocked Amount.

Bybit CASP will execute any One Click Sell Order to which it is deemed to have been instructed by the User to perform upon receipt of the Authorization Request and/or upon receipt of the Capture Request

(1) in line with the liquidation priority as described under Section 7.2.2., and

(2) at the price that would be applicable for a One Click Sell Order with the same parameters (i.e. same type and number of Crypto-Assets) posted by the User via the Platform interface at the time of receipt by Bybit CASP of the Authorization Request or the Capture Request, respectively.

7.4 No liability by Bybit CASP for (the consequences of) lost or stolen Bybit Cards or relevant card data

Users must address any claims resulting from the loss or theft of their Bybit Card or the card data relevant for triggering a Bybit Card transaction (including card number, expiration date, CVV number, PIN) exclusively in accordance with the relevant provisions in the Harmoniie T&Cs. Bybit EU shall in no event be liable for any losses incurred by the User as a result of the misuse of a stolen or lost Bybit Card or the relevant card data. In particular, Bybit CASP shall not be obliged to return to the User any Crypto-Assets liquidated in accordance with Sections 7.2. and 7.3. as a result of the improper Bybit Card transaction or to refund any fees levied in this regard by Bybit CASP pursuant to Section 7.5.

7.5 Fees levied by Bybit CASP

By way of derogation from Section 8: Bybit CASP will not charge the User any fees in connection with Bybit CASP's activities laid out in this section 7, except for the liquidation of Crypto-Assets as described in sections 7.2 and 7.3, if any, for which Bybit CASP would charge the respective User a fee of 0.9% of the value of the One Click Sell Order(s).

Please note that this does not prevent third parties, such as Harmoniie SAS under the Harmoniie T&Cs, from levying charges or fees on the User in connection with the Bybit Card. Bybit CASP accepts no responsibility for such charges or fees being levied by third parties.

 

8. Fees

8.1. Bybit CASP will transparently display the prices and fees applicable on the Platform before a User submits an order.

 

8.2. All fees applicable for the services of exchanging Crypto-Assets for funds or other Crypto-Assets can be found here.

9. Liability

9.1. The use of the Platform and certain transactions carry risks. A non-exhaustive list of these risks is set out in Annex I of the General Terms. Any liability of Bybit CASP under or in connection with these exchange services shall be limited in accordance with Section 20 of the General Terms.

 

 

 

 

 

 

 

Annex I - Definitions