The Bybit referral code to use is SAVEBONUS20. Enter it in the Referral Code field when you sign up, or register through https://partner.bybit.com/b/SAVEBONUS20 so it's filled in for you. It's also the promo code that connects your new account to Bybit's welcome offers. The sign-up bonus isn't a fixed amount, though: the rewards and tasks you see in the Rewards Hub depend on your country and change over time. This guide is for people who want to start simply. Buy your first USDT through Bybit P2P without getting scammed, move it to the right account, make a spot trade and complete the welcome tasks that suit a spot-only beginner. Leave derivatives for later.

Why start spot-only?

Bybit is best known for perpetual futures, and the app pushes them prominently. For your first weeks there's a simpler plan that's easier on your nerves:

• You buy USDT with your local currency through P2P.
• You use that USDT to buy BTC, ETH or another coin on the spot market.
• You never borrow, never use leverage and can't be liquidated.

This keeps your risk at the size of your own deposit. It also lets you learn how the app works (transfers, order types, fees) before mistakes get expensive.

Can you use Bybit where you live?

Check this before you do anything else.

• Bybit restricts residents of a list of jurisdictions that includes the United States, Canada, Singapore, Hong Kong and mainland China, among others. The live list is on Bybit's help center and it changes.
• The United Kingdom has been in a retail wind-down, so new UK retail users shouldn't expect normal access.
• Residents of the EEA are generally sent to Bybit EU (bybit.eu). It's a separate platform with its own terms, products and offers. Bybit's help center has said that P2P is not available to EEA users. If you're in the EU, you'll usually fund your account with bank transfer or card instead, and the P2P sections below may not apply to you.
• A VPN doesn't change where you live, and it doesn't get you past KYC. Bybit checks your ID, and a mismatch can freeze your account and funds.

The P2P steps below are written for the many English-speaking markets where Bybit P2P is used every day, for example parts of Africa, South Asia and Southeast Asia. Exact payment methods vary by country. The P2P screen shows the ones offered in your currency.

Step 1: Register with SAVEBONUS20

1. Open https://partner.bybit.com/b/SAVEBONUS20 in your phone's browser or on a computer. A private tab is best because it avoids an old code from a previous visit being remembered.
2. Choose email or mobile number and create a strong, unique password.
3. Look at the referral field. It should show SAVEBONUS20. If it's empty, type it in exactly like that.
4. Submit, then enter the verification code that arrives by email or SMS.
5. Install the official Bybit app from the App Store or Google Play and log in with the same details.

A referral code normally can't be added after the account exists. If you've already got a Bybit account, this code won't attach to it, and opening a second account with the same identity breaks the rules.

Step 2: Security and KYC before money moves

P2P on Bybit requires identity verification, so get this done first.

• Security: turn on Google Authenticator (or another authenticator app), set an anti-phishing code and add a fund password if the app offers one.
• KYC: a government photo ID and a live face check are standard. Some users are also asked for proof of address. Use your real name exactly as it appears on your ID.

Your KYC name matters later for one simple reason: in P2P, the bank or wallet you pay from must be in that same name. Paying from your sibling's account is the quickest way to get an order disputed.

Step 3: Understand how Bybit P2P works before you click Buy

P2P (peer-to-peer) means you buy USDT from another user, the advertiser or merchant, not from Bybit itself. Bybit provides the marketplace and the escrow.

1. You choose an ad to buy USDT at a set price in your local currency.
2. When you place the order, the seller's USDT is locked in escrow by Bybit. The seller can't spend it elsewhere while the order is open.
3. You pay the seller with the payment method listed on the order, in your own name, inside the time limit.
4. You tap the button confirming you've paid.
5. The seller checks that the money arrived and releases the USDT. It moves from escrow to your account.
6. If something goes wrong, either side can appeal, and Bybit's P2P support reviews the chat and payment evidence.

Escrow protects you as long as you stay inside the process. Everything that goes on outside the Bybit app is unprotected.

How do you choose a trustworthy P2P merchant?

The lowest price isn't always the best ad. Look at each advertiser's profile:

For a first purchase, buy a small amount. You're testing the process, not trying to get the perfect rate.

Step 4: Buy your first USDT on P2P, step by step

1. In the app, go to the P2P trading section. It's usually under More or Buy Crypto.
2. Select Buy, choose USDT and set your local currency.
3. Filter by your payment method and the amount you want to spend.
4. Open an ad from an advertiser who passes the checks in the table above. Read the terms.
5. Enter the amount and place the order. A countdown timer starts.
6. The order screen shows the seller's payment details. Copy them from the order screen only. Never use details sent to you in a private message.
7. Make the payment from an account in your own name, for the exact amount shown.
8. Go back to the order and tap the button confirming payment. Only tap it after you've really paid, because tapping it falsely can get your account restricted.
9. Wait for the seller to release. Use the in-app chat if you need to communicate.
10. If the timer runs down after you've paid and nothing happens, open an appeal inside the order and upload your proof of payment.

Where does the USDT go? P2P purchases land in your Funding Account. That's normal, and the next step explains it.

Common P2P scam patterns to watch for

Most P2P losses come from a handful of tricks that repeat. If you know them, you can avoid nearly all of them.

• "Let's continue on WhatsApp/Telegram." Once you leave the in-app chat, Bybit has no record of what was agreed. Decline.
• Payment details that differ from the order. A seller asks you to pay a different account "because of a limit". Real merchants update the ad. They don't redirect you.
• Fake proof-of-payment screenshots. This mostly happens when you sell. Never release crypto because of a screenshot. Check your own bank or wallet app.
• Third-party payments. Money arrives from someone who isn't the buyer on the order. It can be part of a fraud chain and lead to your bank account being frozen. Only accept payment from the name on the order.
• "Release first, I'll pay after." Never agree to this.
• Overpayment and "refund the difference". Someone sends more than agreed and asks for a refund outside the platform, then reverses the original payment.
• Fake support agents. Bybit staff won't contact you in DMs asking for codes, passwords or transfers to a "safe wallet".
• Chargeback-prone methods. Methods that can be reversed are riskier for sellers. As a beginner buyer, stick to the methods listed on the ad.

The simple rule: never pay outside the platform, never move the conversation off the platform, never release based on a screenshot.

Step 5: "I deposited but can't trade": Funding Account vs Unified Trading Account

This is the most common question from new Bybit users.

Bybit keeps your money in separate accounts:

If your USDT is in Funding, the spot order screen may show a zero balance. To fix it:

1. Go to Assets.
2. Tap Transfer.
3. Set From: Funding Account and To: Unified Trading Account.
4. Choose USDT, enter the amount and confirm.

The transfer is internal and immediate. When you want to withdraw or sell on P2P later, move the funds back the other way.

Step 6: Your first spot trade

1. Tap Trade and choose Spot. Check that you're not on Derivatives, Perpetual or Margin.
2. Pick a pair such as BTC/USDT.
3. Choose Limit, set a price at or slightly below the current price, then enter the amount.
4. Tap Buy BTC and check the order under open orders.
5. When it fills, the BTC shows in your Unified Trading Account.

What fees will you pay?

Bybit's base (VIP 0) trading fees per its fee schedule:

So a spot purchase of 100 USDT costs about 0.10 USDT in trading fees whether you use a limit or market order. P2P fees and pricing are separate: the advertiser's price includes their margin, and some currencies may have P2P fees shown before you confirm. Your exact rates are on your own fee page, and Bybit EU may use different ones.

Which welcome tasks can a spot-only user realistically complete?

Open the Rewards Hub after registering. That's the only place your actual offer is shown. Tasks and rewards vary by country and are updated often, so don't rely on amounts posted elsewhere. Here's how the usual types of task fit a spot-only approach:

A few practical points:

• Read each task's terms: deadline, which account counts, minimum amounts and whether rewards are vouchers rather than withdrawable cash.
• Many rewards arrive as coupons or vouchers, such as fee credits or trading bonuses, with conditions attached. They're useful, but they aren't the same as a bank transfer.
• Some tasks need to be activated or claimed. Tap into the task before you do the action if the Hub asks you to.
• If the Hub is empty or shows little, that can simply be the current offer in your country.

Why avoid derivatives at the start?

Bybit makes futures look easy: a slider, a leverage number and a big green button. The risk is real:

• At 10x leverage, a 10% move against you can wipe out your position.
• Funding rates are charged on open perpetual positions.
• Liquidation happens automatically, often during fast moves and often at night.

Welcome tasks that require derivatives volume are designed to get you trading derivatives. As a spot beginner, you can ignore them. Come back to futures, if ever, once you can explain margin, liquidation price and funding without looking them up.

Quick troubleshooting

Residency and restriction note

Bybit isn't available everywhere. It restricts residents of jurisdictions including the US, Canada, Singapore, Hong Kong and mainland China, and the UK has had a retail wind-down. EEA residents are generally served by Bybit EU (bybit.eu) under separate terms, where P2P may not be offered. Read the live geographic disclosure before signing up, register with your true country, and remember that a VPN doesn't replace KYC.

FAQ: Bybit referral code, promo code and sign-up bonus

What is the Bybit referral code here?

SAVEBONUS20. Enter it in the referral field when you sign up, or use the partner link so it's filled in for you.

Is SAVEBONUS20 a promo code or a referral code?

Bybit's form uses a single field for it, so both names point to the same thing: you enter it once at registration.

How much is the Bybit sign-up bonus?

There's no fixed amount we can promise. Offers vary by country, KYC status and the current campaign. Your Rewards Hub shows the real tasks and rewards for your account.

Can I buy USDT on P2P without KYC?

No. Bybit requires identity verification for P2P trading.

Is P2P safe?

The escrow system protects you when you follow the process: pay the account shown on the order, from an account in your name, keep all communication in the app chat and appeal if something goes wrong. Most losses happen when people leave the platform.

Why can't I trade the USDT I just bought?

It's in the Funding Account. Transfer it to the Unified Trading Account under Assets → Transfer.

Do I need futures to finish the welcome tasks?

Some tasks may involve derivatives, but others, such as KYC, deposits and spot trades, can usually be done spot-only. Check your Rewards Hub and skip the ones that require leverage.

Can I add SAVEBONUS20 after registering?

Normally no. The code has to be entered when the account is created.

Short risk note

Crypto is volatile, and even spot-only holdings can lose much of their value. P2P adds counterparty and payment risk. Platforms can change their products and availability. Use money you can afford to lose, start with small amounts, never share codes or passwords, and treat welcome rewards as a bonus, not a reason to trade. This is general information, not financial advice.

The beginner path in one list

1. Check that Bybit (or Bybit EU) serves your country.
2. Register via the partner link with SAVEBONUS20 showing in the referral field.
3. Set up an authenticator and anti-phishing code, then complete KYC.
4. Buy a small amount of USDT on P2P from a well-rated merchant, paying only through the order screen and from your own account.
5. Transfer Funding → Unified Trading Account.
6. Make a spot limit order.
7. Complete the spot-friendly tasks in the Rewards Hub and ignore the derivatives ones.

Once this routine feels familiar, increase your size slowly. There's no rush.