1. Identity of the contractual partner

1.1 Bybit EU GmbH is a licensed Crypto-Asset service provider ("Bybit CASP", "we", "us") with its seat in Vienna and its registered address Donau-City-Straße 7, 1220 Vienna, Austria.

 

1.2. Bybit CASP is the contractual counterparty for this Transfer Agreement and the provision of the Transfer Services (as defined below)

 

1.3. Bybit CASP can be contacted via the following customer service channels:

• Livechat on the "Platform";

• E-Mail: support@bybit.com;

• In addition, you can issue a formal complaint by using the standard template for com-plaints, which can be found here.

 

1.4. At any time during the contractual relationship related to the Transfer Services, you can access or receive, on request, this information Document on Transfer Services in an electronic format.

2. Competent National Supervisory Authority

2.1. The Austrian Financial Market Authority (Österreichische Finanzmarktaufsicht, FMA) is the competent regulator for Bybit CASP.

3. Description of the main characteristics of Transfer Services

3.1. Bybit CASP offers different services to send or receive certain crypto-assets supported on the Platform ("Crypto-Assets"). The services are equally provided for Crypto-Assets transfers from and to the Platform ("External Transfers") and within the Platform ("Internal Transfers" and together with External Transfer, "Transfer" or "Transfer Services"):

1. with External Transfer it is possible to deposit supported Crypto-Assets to the Platform ("Deposit") or withdraw supported Crypto-Assets from the Platform ("Withdrawal");

2. with Internal Transfers it is possible to send supported Crypto-Assets from your "Account" to the account of another user of the Platform.

 

3.2. External Transfers will be executed by transferring Crypto-Assets on-chain by using one of the available and supported "DLT-Networks".

 

3.3. Internal Transfers are executed by crediting Crypto-Assets from and to Users' Accounts in Bybit CASP's internal databases and records ("Off-Chain Information Ledger"). The Off-Chain Information Ledger credits the specific Crypto-Assets to the individual User, records changes and shows the current balance of the individual User.

 

3.4. No reversal of Transfers. Once a Transfer Service is requested, it cannot be cancelled by a User. An External Transfer to the wrong wallet address or by using the wrong DLT-Network means that your Crypto-Assets will likely be irretrievable. The User has to take special care to ensure that they have confirmed the details of each Transfer before requesting them. 

4. Initiating External Transfers

4.1. Deposit. You can request and initiate a Deposit as follows: 

1. Initiating a Deposit

A User can initiate a Deposit by selecting a supported Crypto-Asset and a supported DLT-Network for the Transfer via the "Deposit" input mask on the Platform. On this interface an individual recipient wallet address to which a transfer can be made will be presented. Please be aware that this address may change for each individual Deposit.

2. User Responsibility: Deposit via blockchain transfer

The User can transfer and Deposit the specified Crypto-Asset to the presented deposit address. This process is outside the sphere of Bybit CASP and the sole responsibly of the User.

 

The User is also responsible to conform with the specific requirements of the selected DLT-Network (for example if the DLT-Networks requires the Transfer to have a destination tag, memo or message, you must include it). It could lead to a permanent loss of these Crypto-Assets, if the User does not conform with the technical requirements of the DLT-Network or use a mismatched deposit address.

 

4.2. Withdrawal. A User can request and initiate a Withdrawal as follows: 

1. Initiating and confirming a Withdrawal

The User can initiate a Withdrawal via the "Withdrawal" input mask on the Platform by providing 

1. the type of Crypto-Asset to be transferred and the supported DLT network to be used;

2. the amount of the Crypto-Asset to be withdrawn;

3. information of the beneficiary and the designated external wallet address;

4. information if the external wallet address is a hosted wallet (e.g. a wallet address which is operated by another crypto-asset service provider, "Hosted Wallet") or an unhosted wallet (e.g. a wallet address which is not operated by a crypto-asset service provider, but is a self-custodial wallet and grant users absolute command over their private keys, "Unhosted Wallet").

 

The User is solely responsible for providing the withdrawal information. Please be aware that providing wrong or mismatched information might result in a permanent loss of your Crypto-Assets.

 

2. Verification / authentication

The User is required to approve the submission of a Withdrawal by using appropriate verification. Please see Section 8 of the General Terms for further information on verification and authentication. 

5. Initiating Internal Transfers (Platform Transfer Service)

5.1. A User can request and initiate an Internal Transfer as follows:

1. Submitting and confirming an Internal Transfer

A User can initiate an Internal Transfer via the "Withdrawal" input mask on the Platform by providing 

1. the type of Crypto-Asset to be transferred; 

2. the amount of the Crypto-Asset to be transferred; 

3. the account information of the beneficiary user.

2. Authentication

The User is required to approve the submission of the Transfer request by using appropriate authentication. Please see Section 8 of the General Terms for further information on verification and authentication.

6. Rejection or Suspension of a Transfer Service

6.1. Bybit CASP may reject or suspend a Transfer Services to maintain Platform integrity, Account security and regulatory compliance. 

 

6.2. Bybit CASP will reject all Withdrawal and Internal Transfer requests of a User for a 24-hour period after the User

1. changed or reset their Account password;

2. changed the registered mobile number connected with their Account;

3. changed or disabled the email address connected with their Account;

4. disabled the "New Address Withdrawal Lock"-function for their Account;

5. disabled or reset the authenticator (e.g. Google Authenticator) connected with their Account;

6. changed or disabled the "Fund Password" activated for their Account;

7. used the "Self-Reactivation"-function for their Account;

8. removed active Passkeys from their Account.

 

6.3. Bybit CASP may reject the provision of a Transfer Service in an individual case if 

1. the provided recipient address does not match the selected DLT-Network;

2. the User tries to deposit a not supported Crypto-Asset or use a not supported DLT-Network;

3. no "Destination Tag/Memo" is specified for a DLT-Network requiring such a tag or memo;

4. any applicable Withdrawal limit is exceeded;

5. the selected Crypto-Asset amount in the Withdrawal request or Transfer request exceeds the available Account balance (the available Account balance must be freely usable by the User). In such cases the Withdrawal request will be rejected entirely;

6. the selected Crypto-Asset amount in the Withdrawal request does not reach the applicable minimum transfer amount requirements;

7. Bybit CASP needs to suspend (part of) its Transfer Services due to maintenance work or DLT-Network upgrades;

8. the maximum execution time of an External Transfer is exceeded;

9. the Originator or the Beneficiary of an External Transfer provides incomplete or inconsistent information that is required due to the EU Travel Rule or other AML/CFT laws;

10. in case of an External Transfer to or from a Hosted Wallet, the due diligence that is required from an AML/CFT perspective cannot be successfully performed (e.g. due to lack of cooperation of the service provider or due to risks or inadequate standards of the service provider of the counterparty);

11. in case of an External Transfer to or from an Unhosted Wallet, the Originator or Beneficiary of the External Transfer request fails to verify the ownership of the wallet address;

12. Bybit CASP's internal compliance and AML/CFT guidelines require the non-execution of a Transfer;

 

6.4. Bybit CASP may suspend the provision of a Transfer Service in an individual case if 

1. Bybit CASP needs to suspend (part of) its Transfer Services due to maintenance work or DLT-Network upgrades;

2. our internal compliance and AML/CFT guidelines prescribe additional Bybit CASP or risk reviews and thus, require a delay of the execution of a Transfer.

 

6.5. Information of suspension or rejection

Provided this does not violate any other compliance obligation or regulatory requirement, the User will be informed of such rejection or suspension and provided with the following information:

1. the reason for the rejection or suspension, provided that disclosing this information is in compliance with other regulatory requirements; 

2. information on how you can remedy the rejection or suspension of the Transfer instruction, if applicable; 

3. the amount of any charges or fees already incurred by you and whether these are payable by you or will be reimbursed.

 

In order to unblock the Deposit/Withdrawal, Users have to file a request via email or

contact customer service for further information and potential instructions. 

7. Execution of Transfer Services

7.1. EU Travel Rule Information. Bybit CASP is committed to full compliance with Regulation (EU) 2023/1113 on information accompanying transfers of funds and certain crypto-assets ("EU Travel Rule"). In order to comply with the EU Travel Rule provisions, Bybit CASP collects information of the "Originator" and "Beneficiary" for every Crypto-Asset transfer and verifies the collected information using reliable data sources and tools. Bybit CASP may reject or suspend the execution of the External Transfer if Bybit CASP receives incomplete or inconsistent information (see also Section 6).

 

7.2. Review and Compliance Process. Each requested Transfer Service will be run through Bybit CASP's compliance systems for purposes of anti-money laundering, combating the financing of terrorism and sanctions compliance ("AML/CFT") in accordance with applicable laws and regulations. Such monitoring occurs prior to execution as well as during the execution of the Transfer. Depending on the form of Transfer Service, the systems monitor different risk parameters. 

 

In case of an External Transfer from or to a Hosted Wallet, Bybit CASP will perform checks to ensure that the service provider upholds due diligence factors that are required from a EU Travel Rule / AML/CFT perspective. If the due diligence of the service provider cannot be successfully performed, you will be informed about further steps to be taken.

 

In case of an External Transfer from or to an Unhosted Wallet, the User has to provide additional verification.

 

For all External Transfers, Bybit CASP screens the wallet address and the Originator / Beneficiary data (e.g. regarding sanctions hits or other EU Travel Rule/ AML/CFT hits).

 

Bybit CASP may reject or suspend the execution of the Crypto-Asset Transfer if the AML/CFT monitoring systems detect any risks or anomalies (see also Section 6).

 

7.3. External Transfers are executed by Bybit CASP initiating or receiving an on-chain Crypto-Asset transfer via a DLT-Network:

1. Deposit. Once the User transferred the Crypto-Asset to the deposit address, the Crypto-Assets will be pooled in Bybit CASP's custodial wallet system. Upon receipt of the Crypto-Assets and provided the Transfer was not rejected or suspended, the deposited Crypto-Asset will be credited in the User's Account balance in the Off-Chain Information Ledger. Only upon final or sufficient confirmation through the DLT-Network, the deposited Crypto-Assets are freely available to the User.

2. Withdrawal. Once the User has submitted the withdrawal request, the corresponding amount of Crypto-Assets will be deducted from the User's Account balance in the Off-Chain Information Ledger (i.e. the User will not be able to otherwise use these Crypto-Assets). The custodial wallet system broadcasts and submits the transfer information to the selected DLT-Network. Subsequently, the Transfer is ready for execution by the DLT-Network. Once submitted to the DLT-Network for execution, the execution of the External Transfer is not controlled by Bybit CASP but by the DLT-Network itself.

 

7.4. Transaction ID. For a successful External Transfer, the relevant DLT-Network will generate a unique transaction-ID. Such transaction-ID serves as irrefutable proof of the completed Crypto-Asset Transfer and is publicly accessible. You will receive the transaction ID together with the post execution information on a durable medium for your information. 

 

7.5. Internal Transfers are executed by withdrawing the Crypto-Assets from the Users Account balance and crediting the corresponding amount to the recipient Account's balance in the Off-Chain Information Ledger.

 

7.6. Transfer of Information. Under EU Travel Rule, Bybit CASP is required to transmit the full name and address of the User to the recipient of any Transfer and any service provider involved in such Transfer. In addition, Bybit CASP will transmit the e-mail address of the User to the recipient of any Internal Transfer. 

8. Time of Receipt and Execution Time

8.1. No cut-off time. There is no set cut-off time for Transfer Services.

 

8.2. Availability. Transfer Services will be available to User's at any time via the Platform, except in case of an interruption as described in Section 19 of the General Terms or in case of a rejection or suspension of the Transfer.

 

8.3. Bybit CASP receives Transfer requests at the time of successful submission via the Platform. All Deposit, Withdrawal or Internal Transfer requests received until 23:59 UTC are deemed to be received on the same Business Day. 

9. Available Crypto-Assets & Supported DLT-Networks

9.1. You can find a complete list of supported Crypto-Asset for Transfer Services under https://www.bybit.com/en/announcement-info/deposit-withdraw. 

 

9.2. This list also contains for each Crypto-Asset the supported DLT-Networks for Transfer Services and the required number of block confirmations for each supported Crypto-Asset and DLT-Network.

10. DLT-Network (On-chain) Execution

10.1. Block Confirmations. The time until an External Transfer is executed through a DLT-Network is generally calculated based on the new block confirmations (i.e. batches of completed/executed transactions) added to the DLT-Network. 

 

10.2. Maximum Execution Times. Each DLT-Network's inherent set of rules define maximum execution times until an External Transfer must be included with a new block confirmation (i.e. executed). The time for execution can vary due to various reasons which are not within the control of Bybit CASP (including the type of DLT-Network, amount of gas fees applied, network congestion, etc.).  

 

10.3. Successful External Transfer. For External Transfers to be considered successfully executed and irreversible, it requires a set number of subsequent block confirmations. This number may be different for each DLT-Network. Bybit CASP defined a number of required block confirmations to deem an External Transfer successfully executed. This number may also differ for Deposits or Withdrawals.

11. Fees & Other Costs

11.1. Bybit CASP charges fees for Transfer services, which you can find here.

 

11.2. For Withdrawals, Bybit CASP will collect the network transaction fees required by the DLT-Network to execute the External Transfer (i.e. these are transaction fees or miner-fees of third parties). Please be aware that for logistical purposes and to ensure a seamless service delivery, Bybit CASP will determine and set these network transaction fees. You will not be able to changes these predefined network transaction fees. The fees will be presented on the Platform. However, in case there are several networks, you can choose a network with a different fee structure for the Withdrawal. 

 

11.3. Deposits may be subject to a network transaction fee. As you will be required to execute the Deposit, the origin of the Deposit and these corresponding network transaction fees are outside of Bybit CASP's sphere and responsibility and are borne, and settled directly, by you.

 

11.4. Bybit CASP does not charge any fees for Internal Transfers.

12. Communication & Authentication

12.1. Services of Bybit CASP can only be used after the User has verified and authenticated the Account. Please see Section 8 of the General Terms for further information on communication and authentication.

13. Supported Languages

13.1. This Transfer Agreement and all related documentation or communication for Transfer Services are made and published in various languages. In case of a dispute or any discrepancies, the German language version shall prevail.

14. Security Systems

14.1. Bybit CASP uses security and protection measures on the Platform. Please see Section 7 of the General Terms for further information.

15. Wrongful Transfer Services & Liability

15.1. Any liability of Bybit CASP under or in connection with the Transfer Services shall be limited in accordance with Section 20 of the General Terms.

 

15.2. If you have reasons to suspect that there was an unauthorised or incorrectly initiated Transfer request, you are obliged to report this as soon as possible to Bybit CASP.

 

15.3. Liability for Unauthorized or Incorrect Transfers. In the case of an unauthorised or incorrectly initiated Transfer, Bybit CASP is liable to the User based on the limitation for claims for damages set out in Section 20 of the General Terms. For incidents not attributable to Bybit CASP, Bybit CASP shall not be liable.

16. Termination of the Transfer Agreement

16.1. You are free to terminate the Transfer Agreement or your contractual relationship with Bybit CASP at any time pursuant to Section 14 of the General Terms.

17. Applicable law

17.1. This Transfer Agreement shall be governed by and construed in accordance with the laws of the Republic of Austria excluding (i) the provisions of the United Nations Convention on the International Sale of Goods as well as (ii) the conflict of law rules of Austrian private international law. 

 

17.2. The governing law shall apply only to the extent that it does not restrict any mandatory statutory provisions of the EEA state in which you reside.

 

 

 

 

 

 

 

Annex I - Definitions