Key highlights:

• In this guide, we’ll show you how you can transfer Tether (USDT) from Binance to Bybit in three easy steps
• Using TRON-based USDT (TRC20) is the fastest and most cost-effective way to transfer Tether from Binance to Bybit
• The entire process of withdrawing crypto from Binance to Bybit shouldn't take longer than a couple of minutes

How to transfer Tether from Binance to Bybit?

Transferring Tether (USDT) from Binance to Bybit is very straightforward and doesn’t require any extensive crypto knowledge. Essentially, you have to withdraw assets from your Spot Wallet on Binance and deposit them to your Spot Account on Bybit.

Once you get familiar with transferring Tether from Binance to Bybit, you can use the knowledge to transfer other crypto assets between the two exchanges. In addition, the process is very similar for any of the top cryptocurrency exchanges, although you will need to check if the token is listed on both your current exchange and the target exchange.

What is Binance?

Binance is the most popular cryptocurrency exchange in the world, offering a multitude of services ranging from spot cryptocurrency trading to cryptocurrency derivatives, staking, and interest-rate bearing crypto lending products under the Simple Earn banner. Binance lists a huge selection of cryptocurrencies that can be traded across more than 1,200 trading pairs. According to some estimates, Binance controls as much as 70% of all trading volume in the crypto space.

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What is Bybit?

Bybit is a crypto trading platform that was founded in 2018. Initially, Bybit was focused on offering derivatives trading (crypto futures contracts), but the platform has since added spot markets, savings products, a Launchpad platform, and other features users expect from a modern cryptocurrency exchange. Bybit supports a large number of cryptocurrencies and often holds special events where traders can earn additional rewards. Bybit was never target of a hacking attack and is generally considered one of the safest crypto exchanges around.

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Binance to Bybit USDT transfer – A step-by-step guide

The process of transferring Tether from Binance to Bybit is pretty straightforward. In the following sections, we'll show you how to transfer USDT from Binance to Bybit step by step.

1. Get your USDT deposit address on Bybit

Once you’re logged in to your Bybit account, go to the Assets section and select Spot Account.

You will see a list of all the coins listed on the exchange. USDT should be near the top of the list, but you can find it in the search bar if you don’t spot it immediately. Select the “Deposit” option next to USDT.

In this guide, we will be sending USDT from Binance to Bybit through the TRON blockchain (TRC20) since it is one of the fastest and cheapest ways to transfer crypto. Therefore, we have selected TRC20 under Chain Type.

After selecting “TRC20”, the interface will display a QR code as well as a plaintext address. It doesn’t matter which one you use – simply choose the option that’s the most convenient for you. In our example, we will be using the plaintext address (starting with "T").

When depositing USDT to Bybit via the TRON network, you must use this exact address. Also, make sure that you are sending the correct cryptocurrency to the address. If you send a cryptocurrency other than TRON-based USDT to this address, your deposit will not be credited, and you could end up losing your funds. Make sure to read the Important section on the right side of the deposit window.

Note that we’ve selected to auto-channel deposits to our Spot Account, which simply means that the funds will be transferred to Spot Account instead of any other Bybit account type.

TIP: You can start off with a smaller deposit to see if everything is working properly. If the deposit completes successfully, you can then transfer the full amount.

Make sure that you selected the correct type of token standard, which is TRC20 in our case. TRC20 is the standard used for tokens like USDT that are issued on top of the TRON network. Copy the address provided by Bybit (the “USDTWallet Address” field).

2. Withdraw USDT from Binance to your Bybit USDT deposit address

If you don’t already have USDT on Binance, you’ll have to deposit some USDT to Binance or buy it on the exchange. Do note that trading fees apply.

How to buy Tether (USDT) on Binance?

Once you have some USDT in your Binance account, go to your Fiat and Spot Wallet on Binance and click Withdraw.

Paste the USDT deposit address you got from Bybit and select the correct blockchain network you’re going to transfer your USDT on. In our example, this will be TRON, which is labeled as “TRX Tron (TRC20)” on Binance.

You’ll also have to select the USDT withdrawal amount that you want to send from Binance to Bybit. A 1 USDT transaction fee will be deducted from the amount you will be receiving. So if you’re transferring 10 USDT from Binance, you’ll get 9 USDT on Bybit. While an average fee for transferring digital assets on Tron is about $1, it is worth noting that the cost of the transaction can vary depending on the level of network congestion and other factors.

If you’re ready to make the transfer, click Withdraw. The average time for TRON-based transactions to clear is less than 1 minute.

Based on the security settings you set up for your Binance account, you might have to provide an email security code and other security verification options whenever you’re withdrawing from Binance. Once you complete the necessary security verification steps, your withdrawal request will be submitted and visible under Recent Withdrawals.

TIP: If you are using the same blockchain address when withdrawing crypto from Binance often, you can save the withdrawal address in your address book. This makes the process much faster, as whitelisted addresses don’t require email security codes and other security verifications for transaction confirmation.

3. Check your USDT deposit on Bybit

The USDT deposit should be available in your Bybit account after a few network confirmations, which usually take less than a minute. The deposit will be added to your Assets and visible under your Spot Account. If you choose to auto-channel the deposit to your Derivatives Account, you will be able to find it there. You can also check out the Tronscan block explorer to track the transaction on the TRON blockchain.

Additional information

Here’s some additional information to consider if you’re trying to transfer USDT or any other cryptocurrency from Binance to Bybit.

Binance account verification

If you hold more than 0.06 BTC worth of cryptocurrency on your Binance account and you’d like to transfer them to another crypto exchange or your wallet, you’ll need to verify your identity (KYC). This also applies if you’re trying to transfer an amount of USDT that’s more valuable than 0.06 BTC.

If you want to learn how you can verify your identity on Binance, we've prepared a guide that you can check out here.

Why would you want to transfer crypto from Binance to Bybit?

There are many reasons why you would want to move crypto assets between different exchanges:

• Different exchanges list different cryptocurrencies
• Some exchanges don’t offer all of their services to customers in certain jurisdictions
• Taking advantage of opportunities like lending and staking
• Arbitrage (this is typically viable only for professional traders but can be accessible to newcomers through the use of arbitrage scanners)
• You want to participate in token sales on Bybit Launchpad

If you want to transfer USDT from Binance to other exchanges besides Bybit, see the guides below:

• How to Transfer USDT from Binance to KuCoin?
• How to Transfer USDT from Binance to OKX?
• How to Transfer USDT from Binance to Kraken?

Is transferring Tether and other cryptocurrencies from Binance to Bybit safe?

Transferring Tether USDT and other cryptocurrencies is safe as long as you make sure you’re using the proper network (blockchain) on both exchanges and that you inserted the correct deposit address associated with it. 

When transferring for the first time, we strongly suggest that you select a smaller amount (for example, 10 USDT) before moving large sums. As always, check that you’re using the correct website (domain name and certificate) and use 2-factor authentication (2FA) as an additional layer of security.

The bottom line: Transfering crypto from Binance to Bybit is very simple and requires just a couple of clicks

Transferring USDT from Binance to Bybit shouldn’t be problematic if you follow a few simple precautions. The same basic concept also applies when trying to transfer other cryptocurrencies between these two exchanges. Just make sure that both exchanges support the same asset on the same network (this is especially relevant for USDT, which is available on many different blockchains). Hopefully, this guide helped you move your USDT between exchanges!

If you are just starting out in crypto and feel overwhelmed by all the options and hard-to-understand terminology, check our in-depth guide on how to invest in cryptocurrency.