Bybit Card looks free at first glance — no monthly holding fee — but the actual cost shows up per transaction. ATM withdrawals carry a 2% fee (minimum $1), and international spending adds roughly 0.5% FX plus 0.9% conversion on top, close to 1.4% combined. A physical card also carries a one-time $5 issuance fee. None of this is hidden exactly, but it adds up quickly for anyone using the card as a regular spending tool rather than an occasional one.
The bigger blocker for a lot of people, though, is what it takes to get the card working at all: full identity verification is mandatory before issuance, not optional.
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Get Your Virtual Card →The KYC Requirement, in Detail
Bybit requires at least KYC Level 2 — a government-issued ID plus a liveness selfie — before a card can be issued at all. Higher spending limits need Level 3, which adds proof of address (a utility bill or bank statement less than 90 days old) and source-of-funds documentation. For anyone who wants a crypto-funded card without handing over a facial scan and a stack of personal documents, there's no lighter tier available — full verification is the floor, not an upgrade path.
It isn't only a fees-and-paperwork story either. Users have reported cards declining on ordinary small charges, and accounts being restricted for “compliance review” with no specific explanation and no fixed timeline — in one documented case, over 13 days with no update. When that happens, whatever was billed to that card stops working until the review clears, on Bybit's schedule, not yours.
How a No-KYC Virtual Card Compares
A virtual card like SiraPay skips the identity-verification floor entirely — no government ID, no liveness selfie, no proof-of-address requirement, at any tier. Pricing is flat and published upfront rather than assembled from several stacked percentages: a Monthly Card at $0.99/month or a Yearly Card at $4.99/year, with no separate ATM or issuance fee layered on top.
| Requirement | Bybit Card | SiraPay |
|---|---|---|
| Government ID + liveness selfie required before card works | ✅ Yes | ❌ No |
| Proof of address + source-of-funds for higher limits | ✅ Yes | ❌ No |
| Flat, predictable pricing (no stacked % fees) | ❌ No | ✅ Yes |
| Card ready same day, no verification review wait | ❌ No | ✅ Yes |
Setting Up a Card Without the Verification Wait
- Sign up and complete the basic privacy-first onboarding steps
- Fund the card with crypto or a supported fiat top-up channel
- Generate one of your free virtual cards (up to 5 available)
- Enter the card details at checkout exactly like any other Visa/Mastercard
- Keep spending separate from any exchange-issued card that could be reviewed or restricted later
The same fee-and-KYC pattern shows up across most crypto-exchange cards, not just Bybit's — anyone comparing options more broadly may also find our guide to RedotPay card restrictions useful.
Final Thoughts
Bybit Card's “no monthly fee” headline hides a stack of percentage fees on ATM withdrawals and international spending, and none of it is accessible without clearing mandatory identity verification first. A privacy-first virtual card skips that floor entirely and replaces the stacked percentages with one flat, published price — worth a look for anyone who opened a Bybit Card expecting crypto-native simplicity and found paperwork and per-transaction fees instead.
