Bybit Crypto Loans

Key Features of Bybit Crypto Loans

Company Key Parameters

• Name: Bybit
• Product: Crypto Loans
• Year Established: 2018
• Co-founder and CEO: Ben Zhou
• Platform Type: centralized cryptocurrency exchange
• Account for Crypto Loans: Funding Account
• Collateral Format: multi-asset collateral in Cross Margin
• Credit History: traditional bank scoring not disclosed; main conditions are KYC, sufficient collateral, and meeting minimum application requirements
• Operation Mode: online, 24/7, subject to maintenance and regional restrictions
• Scale: in 2026 press materials, Bybit claims over 70 million users

How Bybit Crypto Loan Works

The borrower does not sell their asset immediately. They transfer the supported cryptocurrency to the Funding Account, select it as collateral, and receive another digital asset. The collateral is locked and remains part of the total collateral until all associated obligations are settled or until the user reduces the collateral within the allowed LTV.

1. Registration and KYC. Must undergo at least Standard Identity Verification or Business Verification.
2. Fund the Funding Account. The account must have assets that Bybit accepts as collateral.
3. Select the format. Flexible is suitable for loans without a fixed date, Fixed provides a predetermined rate and term.
4. Select asset and amount. The interface shows the minimum, maximum, rate, recognized collateral value, and estimated LTV.
5. Confirm collateral. Can select one or several supported assets.
6. Execute the application. Flexible is funded by Bybit. A Fixed application must match an offer from one or more liquidity providers.
7. Receive funds. The borrowed asset is credited to the Funding Account. In Fixed, the interest amount is withheld upfront.
8. Monitor LTV. The ratio changes along with asset prices and accumulated interest.
9. Repayment. The debt is repaid with the same asset or, with an additional fee, by converting collateral.

Flexible Rate Loan vs Fixed Rate Loan: What’s the Difference

Flexible is generally simpler for short or undefined duration needs. Its cost is not known upfront as the rate responds to liquidity pool usage. Fixed provides certainty regarding the rate, but funds can only be obtained after the application is executed. Early repayment does not refund already withheld interest.

Which cryptocurrencies can be borrowed or used as collateral

Bybit specifically names USDT, BTC, and ETH among available assets and supports a broader list of coins. The list should not be considered permanent. The Loan Data section shows the availability of Flexible and Fixed, rates, minimum amounts, borrowing caps, and collateral parameters for each coin.

The borrowed asset and collateral asset do not necessarily have to match. For example, a user can secure a loan in USDT using BTC. In such a structure, LTV depends on both the debt in USDT and the index value of BTC. A drop in BTC increases LTV even when the USDT debt amount remains unchanged.

Displaying a coin in the general list does not guarantee that it can be used at a specific moment. Bybit applies platform collateral limits. If the total value of a specific asset in collateral on the platform approaches the limit, a yellow warning will appear next to it. After reaching 100%, adding this asset as collateral is temporarily blocked.

How the available loan amount is calculated

Bybit does not have a single limit like “up to 50,000 USDT for each client.” The maximum amount is determined by the smallest of the actual constraints: recognized collateral value, borrowing cap of the specific coin, available liquidity, and the overall limit of the Main Account along with Subaccounts.

Base LTV formula:

LTV = amount of debt ÷ recognized value of collateral

The amount of debt includes unpaid principal, accrued interest, and overdue interest. For collateral, Bybit uses Index Price and tiered collateral value ratio. Through this ratio, the exchange can only consider part of the market value of the asset.

A conditional example: the cryptocurrency has a market value of 10,000 USD, but after applying the corresponding tier ratio, Bybit recognizes 9,000 USD as collateral. At an initial LTV of 80%, the theoretical cap would be 7,200 USD. This is an upper technical guideline, not a safe amount. Borrowing at maximum leaves little room for price movement and accumulated interest.

Flexible and Fixed do not have separate isolated LTVs. Crypto Loans utilize Cross Margin: debts merge and all selected collateral assets support all active applications. Adding a new loan can increase the risk of already opened loans.

Interest and actual cost of Bybit Crypto Loans

There is no single rate for all Crypto Loans. For Flexible, it depends on the liquidity pool’s load. Bybit updates it hourly and shows an hourly and annual equivalent on the product page. Charges start after funds are received, and periods of less than an hour for Flexible are rounded to the full hour.

Hourly interest formula for Flexible:

hourly interest = unpaid amount × current hourly rate

The current rate may change already after the loan is opened. Due to hourly capitalization, the actual cost of a long Flexible loan should not be estimated simply by multiplying today’s APR by the number of days.

Fixed interest formula:

interest = loan amount × annual rate × term in days ÷ 365

For instance, for a hypothetical Fixed loan of 10,000 USDT for 30 days at 6% annual interest, the interest would be approximately 49.32 USDT. After the application is filled, about 9,950.68 USDT will be credited to the Funding Account, as interest is withheld upfront. The principal amount of 10,000 USDT must be repaid. If the debt is repaid early, this 49.32 USDT is not refunded. The 6% rate in the example is hypothetical and does not reflect Bybit’s current offering.

Collateral and tiered collateral value ratio

The market value of the collateral and the amount recognized by Bybit for LTV may differ. The platform divides the USD value of the asset into tiers and applies its own ratio to each tier. The formula looks like this:

recognized value of collateral = Tier 1 × Ratio 1 + Tier 2 × Ratio 2 + ... + Tier N × Ratio N

In the example, Bybit’s MYRO asset worth 360,000 USD had tiers of 100%, 75%, 50%, and 0%. After applying all ranges, the recognized value was 225,000 USD. This example demonstrates the mechanics but is not an actual coefficient table for each coin. Current values should be taken from the Loan Data page.

A user can add collateral to lower the LTV. Reducing it is allowed only when the current LTV is lower than the initial value. An amount can be withdrawn after which the LTV does not exceed the initial level. With multiple loans, the collateral does not automatically return after partial repayment of one application, as it supports the entire Crypto Loans portfolio.

Margin Call, Delayed Liquidation, and Liquidation

The LTV may rise due to a drop in the price of the collateral, an increase in the borrowing asset’s cost compared to the collateral, or the accumulation of interest. The user needs to monitor the ratio independently. Bybit directly warns that emails, SMS, or push notifications may arrive delayed or not work.

• Initial LTV 80%: base limit for opening a new loan; may be different for a specific collateral.
• Margin Call LTV 85%: Bybit sends a warning and offers to add collateral or partially repay the debt.
• Delayed Liquidation LTV 93%: begins a 24-hour period to return the LTV to the initial level.
• Liquidation LTV 95%: liquidation is triggered immediately, even if the 24-hour period after 93% has not yet finished.
• After 24 hours: if the LTV remains at 93% or above throughout the period, the system may also liquidate the collateral.

Initially, the system cancels unexecuted loan orders. If afterwards, the LTV has not dropped to the allowable level, Bybit sells the collateral assets at index prices, settles the principal debt and interest, and retains a 2% liquidation fee. In collateral conversion, a separate repayment fee applies. The remaining collateral is returned to the Funding Account.

Estimated liquidation price formula for a single collateral:

liquidation price = (principal debt + interest + overdue interest) ÷ (amount of collateral × Liquidation LTV)

For multi-asset collateral, the practical calculation is more complex. The prices of multiple assets change simultaneously, and different ratios are applied to their value. The current LTV and liquidation data in the account remain the most reliable benchmark.

It is important not to mix two different 24-hour periods. The first is related to achieving Delayed Liquidation LTV of 93%. The second applies to overdue Fixed Rate Loan after its term ends, when triple interest is already being charged on the debt.

How to repay a Bybit Crypto Loan

The simplest option is to have the same asset on the Funding Account that was borrowed. If the borrower received USDT, standard repayment is executed in USDT. Returning with another coin is not directly supported.

1. Open Crypto Loans and go to My Dashboard.
2. In Total Debt, select the debt to be repaid and click Repay.
3. Specify full or partial repayment.
4. Check whether the borrowed asset is used or if collateral conversion applies.
5. Review the amount of interest, repayment fee, and remaining LTV.
6. Confirm the operation and check the history entry.

• Partial repayment: available for Flexible and Fixed.
• Order of deduction: interest first, then the principal debt.
• Multiple loan types: the system first repays Flexible, then Fixed.
• Repayment with collateral: supported, but involves conversion and a repayment fee.
• Conversion limit: up to 300,000 USD equivalent per operation; Bybit may change this threshold.
• Auto-Repay Fixed: will trigger only if the full amount is on the Funding Account.

For Fixed, automatic switching to Flexible can be selected after the expiration. If the function is unavailable at the moment of repayment, the debt must be returned by the initial date. The Renew function does not extend the term. It only allows re-borrowing the previously repaid amount under the same contract and the same end date. One application can be renewed up to five times if the repaid amount is greater than zero and more than six hours remain before the deadline.

KYC and Availability of Bybit Crypto Loans for Ukrainians

For Crypto Loans, at least Standard Identity Verification or Business Verification is required. The user must also have collateral assets in the Funding Account and meet minimum requirements for a specific application. Bybit does not allow platform usage by individuals under 18 years of age.

As of 08/31/2026, Ukraine as a state is not listed in Bybit’s overall list of excluded jurisdictions. However, the platform separately restricts service to users from Crimea, Sevastopol, Donetsk, and Luhansk regions, which it categorizes as territories under Russian control. Bybit may change geographical restrictions and verify the user’s actual location, residency, and documents.

A Ukrainian passport alone does not guarantee access to Bybit’s global version. For a person permanently residing in the EU, the product and legal entity of the platform may differ. Final availability should be verified after logging into the account with correct KYC data. Using a VPN to hide a prohibited jurisdiction is forbidden and may lead to account restrictions or position closures according to platform rules.

Legal Status for Users from Ukraine

On the Crypto Loans pages, the product is described as a digital asset loan secured by cryptocurrency. Bybit does not describe it as a consumer loan in hryvnias and does not declare on the product page a license from the NBU for issuing bank or microfinance loans in Ukraine.

The user enters into relationships in accordance with current Bybit Platform Terms, Crypto Loans Service Agreement, and, for Fixed, Agreement for Fixed Rate Loan. The specific legal entity and set of available services depend on the region and KYC profile. Before a large loan, it is advisable to save the current version of the agreement and confirmation of application parameters, as rates, limits, and risk management rules may be updated.

Converting collateral during repayment or liquidation is a separate operation with digital assets. Its possible tax implications depend on the user’s circumstances and applicable regulations. This overview does not replace individual legal or tax advice.

Security and Counterparty Risk of Bybit

Crypto Loans operate within a centralized exchange. The user transfers control of collateral to Bybit and relies on the platform’s functioning, its risk management systems, liquidity, and compliance procedures. This risk exists separately from market price movements.

Bybit publishes Proof of Reserves and allows verification of its inclusion in the Merkle Tree, declared wallet addresses, and their balances. Proof of Reserves is useful for verifying assets but does not guarantee the absence of all corporate obligations, operational errors, or future incidents.

On February 21, 2025, Bybit confirmed the compromise of one ETH cold wallet. According to the company itself, about 1.46 billion USD in ETH and derivative assets were lost. Bybit stated it remained solvent, covered the deficit, and continued processing withdrawals. The incident was not directly related to Crypto Loans, but it shows that cold storage and multi-signature do not eliminate technological and operational risk.

Before using a loan, it is advisable to enable Google 2FA or passkey, check anti-phishing codes, set withdrawal protection, and not rely solely on Margin Call notifications. For large collateral, it is beneficial to keep a buffer to the liquidation threshold and have available collateral needed for repayment in advance.

Nuances Easily Overlooked

• The current APR on the page is not a promise to maintain the Flexible rate until repayment.
• Incomplete hours in Flexible are rounded to full hours.
• Fixed interest is withheld upfront and is not refunded upon early repayment.
• A Fixed application may be filled by several providers at different times, so individual portions will have their own settlement dates.
• The Partial Fill option may leave part of the application unfulfilled until it finds liquidity or is cancelled.
• All Flexible and Fixed Loans use a shared Cross Margin LTV.
• Main Account and Subaccounts have a shared borrowing limit.
• Adding collateral may be unavailable if the asset reaches the platform collateral limit.
• Repayment with collateral includes conversion and a separate fee.
• Two 24-hour grace periods pertain to different events: LTV 93% and Fixed overdue.
• Renew does not extend the repayment date of Fixed Rate Loan.
• Borrowed cryptocurrency is allowed to be withdrawn, but withdrawals have separate limits, network fees, and compliance checks.

Advantages and Disadvantages of Bybit Crypto Loans

Reviews on Bybit and Crypto Loans

A large independent array of reviews specifically about Bybit Crypto Loans was not found at the time of review. The overall rating of the exchange does not indicate how satisfied users are with the rates, LTVs, or repayment of this specific product.

On Trustpilot as of 08/31/2026, the Bybit page showed 2.6 out of 5 with 7,635 reviews. The distribution was polar: 36% of ratings had five stars, 51% had one star. Trustpilot emphasizes that reviews reflect user opinions and are not an independent verification of each claim.

What positive reviews mention

• User-friendly interface for active trading;
• Wide range of cryptocurrency products;
• Fast execution of regular trading operations;
• Long experience of use without problems for some clients.

What users complain about

• Lengthy security and compliance reviews;
• Withdrawal limits during verification;
• Template responses or slow escalation of tickets;
• Unclear to users reasons for blocking specific operations.

These complaints do not prove defects in Crypto Loans, but they are significant for the borrower. The collateral and borrowed funds reside within Bybit, so delays in access to the account may complicate adding collateral or repaying debt during periods of high volatility.

Comparison of Crypto Loans, Spot Margin, and Sale of Assets

Crypto Loans should be considered when you need to keep the collateral asset and have a clear repayment plan. Spot Margin is more related to trading positions in UTA. If future repayment sources are uncertain, a regular sale of part of the asset may be cheaper and simpler than a loan with liquidation risk.

Who Can Benefit from Bybit Crypto Loans

• Owners of BTC, ETH, or other supported assets who do not want to sell them now;
• Users needing cryptocurrency liquidity, not a hryvnia credit;
• Experienced traders who understand LTV, Index Price, Cross Margin, and liquidation;
• Borrowers with a defined asset and source of repayment;
• Users ready to regularly monitor LTV and add collateral during volatility.

The product is poorly suited for a beginner planning to borrow the maximum available amount, has no buffer for Margin Call, or relies on automatic notifications. It also does not address the need for a standard unsecured loan in hryvnias.

A practically cautious approach involves an LTV significantly lower than the initial 80%. For example, 50% leaves more room for fluctuations than borrowing at a technical maximum. This is merely a risk management guideline: the safe level depends on the volatility of the collateral, term, rate, and ability to repay the debt quickly.

Frequently Asked Questions about Bybit Crypto Loans (FAQ)

Can I take a Bybit Crypto Loan in Ukraine?

Yes, for most users from Ukraine, the product is available after Standard KYC, provided the account is not in an excluded jurisdiction and displays Crypto Loans. Crimea, Sevastopol, and territories that Bybit considers controlled by Russia are subject to restrictions.

Can I get a loan in hryvnias?

No. Crypto Loans issue digital assets. Further conversion of cryptocurrency to UAH is done through separate functions and is not part of the loan itself.

Can I borrow USDT, BTC, or ETH?

Bybit explicitly names USDT, BTC, and ETH among supported assets. Actual availability, minimums, and borrowing caps are checked on the Loan Data page.

What is the interest rate for Bybit Crypto Loans?

There is no single rate. Flexible updates hourly based on liquidity market conditions. For Fixed, the user specifies the desired rate, which is fixed for the entire term once the application is executed.

What term can I take a loan for?

Flexible has no fixed term. Fixed is available for 7, 14, 30, 60, 90, or 180 days.

Can I repay the loan early?

Yes, fully or partially. For Flexible, interest depends on actual hours. For Fixed, interest is withheld upfront and is not refunded.

Is a credit history required?

Bybit does not describe a bank credit score as a condition for Crypto Loans. KYC, supported collateral, and meeting minimum application requirements are needed.

What is the maximum LTV?

In the general table, Bybit’s initial LTV is 80%, but documentation allows different values for specific collateral. Margin Call occurs at 85%, Delayed Liquidation at 93%, and Liquidation LTV is 95%.

What happens at LTV 93%?

A 24-hour delayed liquidation period begins. During this time, collateral must be added or part of the debt repaid to return the LTV to the initial level. If LTV reaches 95%, liquidation may occur immediately.

How much does liquidation cost?

Bybit retains 2% of the value of the borrowed asset. If collateral is converted for repayment, a repayment fee applies based on the higher of the collateral and loan asset rates.

Can I repay the debt with collateral?

Yes. Bybit converts one or several collateral assets into the borrowed asset at Index Price and retains a repayment fee.

Can I withdraw borrowed cryptocurrency?

Yes. Bybit allows the use of borrowed assets on the platform or withdraw them externally. Separate limits, network fees, and checks apply for withdrawals.

Does Auto-Repay work?

There is no automatic repayment for Flexible. For Fixed, it can be turned on, but the full amount must be on the Funding Account. If funds are insufficient, the attempt will not be successful.

What happens if I default on a Fixed Rate Loan?

Bybit gives 24 hours. During this time, penalty interest is charged hourly at a triple rate. After the grace period ends, the unpaid loan may be closed due to collateral liquidation.

Is collateral returned after partial repayment?

Not necessarily automatically. In Cross Margin, it supports all active Crypto Loans. It can only be reduced within the amount from which an extraction does not exceed the initial level.

Is Bybit Crypto Loan safe?

The product has transparent LTV thresholds and liquidation rules, but remains risky. Parts of the collateral can be lost due to market conditions, interest, or liquidation. There is also a risk of storing assets on a centralized exchange.

Conclusion: Is it worth taking a Bybit Crypto Loan in 2026?

Bybit Crypto Loans offer the opportunity to borrow USDT, BTC, ETH, and other supported assets against cryptocurrency collateral. The service is available in two formats. Flexible is convenient when the repayment date is unknown, but its rate changes hourly. Fixed locks the cost and term, but interest is withheld upfront, and early repayment does not refund this amount.

The most important indicator for the borrower is the LTV of the entire Crypto Loans portfolio. At 85%, a Margin Call occurs, at 93%, a delayed liquidation period initiates, and 95% can cause immediate sale of collateral. An additional 2% liquidation fee and possible conversion fees apply to any deficit.

For an experienced user with liquid collateral, a buffer to Margin Call, and a clear repayment source, the product may be useful. Borrowing at maximum LTV for a speculative position is dangerous: market movement, increased Flexible rates, or interest accumulation can quickly shorten the buffer.

Before confirmation, check five values in your account: the actual rate, the amount that will arrive after interest, the recognized value of collateral, current LTV thresholds, and the total cost of collateral repayment. If any of these parameters are unclear, better not to open a loan until clarification.

Sources

• Bybit — official Crypto Loans page in Ukrainian
• Bybit Help Center — Introduction to Crypto Loans
• Trustpilot — independent reviews on Bybit

Note: the material is for informational purposes only and does not constitute individual financial, legal, or tax advice. The data was verified on August 31, 2026. Before opening a loan, check the rate, available asset, borrowing cap, collateral value ratio, LTV, liquidation price, repayment fee, and regional terms directly in your Bybit account.