Authentication became mandatory for all users of Baybit exchange; Restrictions start from May 18

Bybit digital currency exchange has sent an email to its users today and announced that from May 8th (May 18th – 6:30am Tehran time), level one authentication will be required for all users.

According to Baybit’s announcement, users must provide identification documents and perform level one authentication of their account before this date. Otherwise, they will no longer be able to deposit assets and make new transactions in this exchange, and they are only allowed to close their previous trading positions and withdraw their remaining assets.

ByBit level one authentication requires providing documents such as an ID card or passport and a photo of the account owner, and like most international exchanges, identification documents related to Iran are not accepted in this exchange; Therefore, Iranian users will not be able to authenticate with their documents in Baybit.

It should be noted that in late 2022, after applying some restrictions such as reducing the withdrawal limit for unauthenticated users, Baybit said that it may consider more restrictions for its unauthenticated accounts in the future.