A complete guide on how to buy USDC on Bybit
USDC is a popular stablecoin that maintains a 1:1 value with the US dollar through full reserves held in regulated financial institutions. This stability makes USDC an attractive option for traders looking to participate in the crypto market with reduced price volatility.
In this guide, we’ll explore the multiple ways to buy USDC on Bybit, detailing five distinct purchasing methods tailored to different preferences. You'll also discover practical applications for your USDC holdings, from trading opportunities to payment solutions and investment strategies.
Key Takeaways:
USDC is a popular stablecoin that maintains a 1:1 value with the US dollar through full reserves held in regulated financial institutions.
There are a total of five ways you can buy USDC on Bybit: via Bybit P2P, Bybit One-Click Buy, Auto-Invest, Bybit Card and Bybit Convert.
Five ways you can buy USDC on Bybit
Whether you prefer trading directly with other users or making quick purchases with a credit card, there's an option for you. Let's examine each method in detail.
1. How to buy USDC via Bybit P2P
Bybit P2P Trading allows individuals and businesses to buy and sell USDC via peer-to-peer mode without intermediaries. You simply transact with another trader to purchase or sell your crypto with zero fees.
There are two main parties on the P2P platform — makers and takers. Makers place ads for buying or selling cryptocurrency, while takers are the users who place orders through the existing ads created by makers. Neither makers nor takers pay any fees on completed orders.
If you decide to go the P2P route to buy your USDC, you can either place a buy ad as a maker, or select an existing offer as a taker. Placing ads is completely free, although specific trading activity requirements exist. If you're a beginning trader on the platform, and want the easiest way to purchase USDC, selecting an offer from an existing ad as a taker is probably the preferred route.
If you need to trade USDC in large volumes (typically tens or hundreds of thousands of USDC per transaction), you may also choose to consider P2P Block Trading, which offers high order limits — up to $200,000 per order — as well as expedited transaction processing.
You can also use Bybit's P2P HotSwap feature to complete your USDC order efficiently. HotSwap combines offers from P2P traders with liquidity options from third parties, potentially delivering more choices and options.
Steps for buying USDC via the standard P2P option
From Bybit's homepage, hover your cursor over the Buy Crypto tab from the navigation bar at the top, and select P2P Trading.
The Buy option will be selected by default, but you'll need to change the asset from USDT to USDC.
In the same panel, enter the fiat amount and currency you'd like to spend, then select a preferred payment method.
Select from matching ads that will pop up on the screen by clicking on Buy USDC.
Enter your preferred amount to pay or receive, and then click on Buy.
Once you've completed the payment, click on Payment Completed.
The USDC will be credited to your wallet after the seller confirms the payment.
To buy using the P2P HotSwap option
From the Bybit homepage, hover your cursor over the Buy Crypto tab and select One-Click Buy.
Choose your fiat currency, then USDC as the preferred asset, and enter your desired purchase amount.
Select your preferred payment method.
Select Buy With [fiat].
Acknowledge the P2P HotSwap Transaction Service Agreement.
Click on Confirm to create your P2P HotSwap order.
Once a matching order is found, pay using your preferred payment method and click on Payment Complete.
2. How to buy USDC via Bybit One-Click Buy
The One-Click Buy service lets you quickly purchase crypto using several supported payment modes: P2P, bank card payments, third-party payments and your account's fiat balance. You can use a credit or debit card (including the Mastercard-powered Bybit Card), bank transfers, Apple Pay, Google Pay and other payment methods.
Steps for buying USDC via One-Click Buy
From Bybit's homepage, select Buy Crypto → One-Click Buy.
Select your fiat currency, and USDC as the preferred asset.
Enter your desired purchase amount, either in USDC or in your fiat currency.
Select a preferred payment method. One-Click Buy offers different payment methods. We'll use perhaps the most common of these — payment by card. Select Bank Card in this step.
If you're using your card for the first time, you'll need to enter its details in this step. After successfully adding your card, click on Deposit.
Click on Buy With [fiat], then click on Confirm to complete your payment.
USDC will be credited to your Bybit Spot wallet once the payment is confirmed.
3. How to buy USDC via Auto-Invest
Auto-Invest is another way to purchase USDC on Bybit. The Auto-Invest option allows you to automatically buy crypto at regular intervals using the popular dollar-cost averaging (DCA) investment strategy.
Steps for buying USDC via Auto-Invest
Click on Buy Crypto in the navigation bar at the top of Bybit's homepage.
Click on Auto-Invest.
In the Auto-Invest form, enter USDC as the asset to receive, then choose the fiat currency you're paying with and the amount.
In the same form, select the frequency of auto-investing — daily, weekly, bi-weekly or monthly — and then click on Continue.
Please ensure your Auto-Invest details are correct, then tick the box to agree to Bybit's terms and privacy policy, and click on Confirm.
Your Auto-Invest plan will be activated, and purchases will be made automatically according to your selected schedule.
You can monitor and manage your Auto-Invest plans through the Auto-Invest dashboard.
4. How to buy USDC via Bybit Card
Bybit Card is a Mastercard crypto debit card that allows you to make online payments. The card is available to users in specific regions — EEA and CH, AIFC, Australia, Brazil and Argentina — with more locations to be added in the future. It's accepted by more than 90 million merchants within the Mastercard network. Upon successfully applying for your Bybit Card, you may proceed to use the virtual card while you order and wait for your physical card to arrive.
It's easy to buy USDC using the Bybit Card, as you enjoy reward features like loyalty points and cashback for USDC transactions. The steps for buying USDC using the Bybit Card are nearly the same as shown above in the One-Click Buy section, the only difference being that you'll need to specify your Bybit Card as the preferred payment method.
Steps for buying USDC via Bybit Card
From Bybit's homepage, select Buy Crypto and One-Click Buy.
Select your fiat currency, and USDC as your preferred asset.
Enter your desired purchase amount in USDC or your fiat currency.
Select Bybit Card as your payment method.
You might need to complete additional verification steps if this is your first time using the Bybit Card.
Review the transaction details, including any applicable fees.
Click on Buy With [fiat], then click on Confirm to complete your purchase.
USDC will be credited to your Bybit Wallet once the transaction is confirmed.
5. How to buy USDC via Bybit Convert
Bybit Convert lets you easily swap crypto assets without directly trading through the P2P route or other channels. Using Bybit's order books, the platform matches your order with current suitable orders and executes the requested swap. By leveraging Bybit's vast trading volumes and activity, Bybit Convert enables swift and efficient swaps.
If you have non-USDC crypto funds in your account, you can take advantage of the Convert function to buy the stablecoin as follows:
Steps to for buying USDC via Bybit Convert
After logging in to your account, hover your cursor over the Buy Crypto tab and select Convert.
In the Convert form, you'll see a field at the top where you can choose your account type for the conversion. Not all account types on Bybit support the Convert function. You can use this function with Funding, Derivatives, Inverse Derivatives and Unified Trading Accounts. Select your eligible account type (e.g., Funding).
Select the crypto asset you want to convert from, and USDC as the asset to receive, and enter the desired amount.
Review the conversion rate and any applicable fees displayed on your screen.
Click on Convert, and then on Confirm.
USDC will be credited to your selected account type instantly after the conversion is processed.
How to use USDC
USDC is more than just a stablecoin for trading; it offers various applications within and beyond the Bybit ecosystem.
For trading
USDC serves as a reliable base currency for trading various cryptocurrencies on Bybit.
Spot trading: Use USDC to directly purchase other cryptocurrencies.
Futures trading: USDC can be used as collateral for Futures contracts on Bybit's Derivatives platform.
Margin trading: Leverage your USDC holdings to open larger positions with borrowed funds.
Grid trading: Implement automated trading strategies using USDC as the quote currency.
Trading with USDC helps mitigate volatility risks between trades, as its value remains stable at approximately $1, allowing traders to preserve capital during market downturns.
For payment
USDC has emerged as a popular payment method due to its stability and wide acceptance.
Merchant payments: Many online retailers and service providers now accept USDC as payment.
Cross-border transfers: Send USDC internationally without the high fees and delays associated with traditional banking.
Remittances: Use USDC to send money to family members abroad quickly and at lower costs.
Subscription services: Pay for digital subscriptions with USDC on platforms that accept cryptocurrency payments.
Platforms on which users can make USDC payments include Travala for travel bookings, Newegg for electronics, and various crypto-friendly merchants via payment processors, such as BitPay and Coinbase Commerce.
For investing
USDC offers various investment opportunities on Bybit and beyond.
Earn interest: Deposit your USDC in Bybit's Earn products to generate passive income.
Liquidity provision: Supply USDC to liquidity pools and earn rewards.
Yield farming: Participate in yield farming protocols using USDC as a base asset.
Staking: Some platforms allow USDC staking for fixed or variable returns.
DeFi lending: Lend your USDC on DeFi platforms to earn interest.
The benefit of investing with USDC is that your principal amount remains stable while generating returns, which is particularly attractive in volatile market conditions.
The bottom line
USDC combines dollar stability with digital efficiency on the Bybit platform. This guide has detailed five ways to purchase USDC, and explored its versatile applications for trading, payments and investing. Armed with this knowledge, you can confidently navigate Bybit's ecosystem and make the most of what USDC has to offer.
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