Version 1, Dated 01 July 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. Fees

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

 

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

8. Liability

8.1. 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