FAQ — Pay Later on Bybit Card

What is Bybit Pay Later?

Bybit Pay Later is a financial service available on Bybit Card or Bybit Pay that provides stablecoin liquidity to help meet your spending needs. It allows you to access liquidity by borrowing against your crypto holdings without selling them.

 

You can use your crypto assets as collateral and pay interest in exchange for USDT to pay for your purchases. This enables you to split large purchases into monthly installments — ideal if you prefer to hold your crypto long-term or expect its value to increase.

 

 

 

Why should I use Bybit Pay Later?

Bybit Pay Later lets you access liquidity while holding your crypto, offering flexibility and control over how you pay.

• Preserve your holdings: Use your crypto's value without selling, so you can continue to benefit from potential market growth.

• Repay at your own pace: Choose from 2-, 3- or 6-month installment plans as needed.

• Enjoy cost certainty: Make predictable monthly repayments at a fixed rate, locked in upon installment plan confirmation.

• Earn more cashback: Unlock higher cashback rewards compared to Pay Now.

 

 

 

Who is eligible to use Bybit Pay Later?

Bybit Pay Later is available to users who have completed at least Standard Identity Verification on Bybit Global and are eligible to use Bybit Card or Bybit Pay, excluding cardholders in the EEA and Switzerland. Users with Business Identity Verification are not eligible for this service. For more details on how to complete Individual Identity Verification, please refer to this article. 

 

 

 

Can I use Bybit Pay Later on both the Bybit website and the Bybit App?

No. Bybit Pay Later is currently available only on the Bybit App.

 

 

 

How does Pay Later work on Bybit Card?

Pay Later currently uses a post-purchase installment model on Bybit Card. This means you'll first complete a purchase using your own funds and then have the option to convert that transaction into monthly installments afterward. Once the conversion is made, the corresponding borrowed amount will be credited to your Funding Account.

 

Example:

Suppose User A made a $2,000 purchase and used 2,028 USDT to cover the transaction. After payment, User A decides to convert the purchase into a 3-month installment plan for additional liquidity. The system will calculate the USDT borrow amount based on the USD-to-USDT exchange rate upon installment order confirmation ($2,000 ÷ exchange rate) and credit the equivalent USDT to User A's Funding Account. User A can then repay the principal and accrued interest over 3 months.

 

 

 

What assets are supported on Bybit Pay Later?

Collateral assets: Bybit Pay Later supports the same collateral assets as Crypto Loans, except stablecoins such as USDT and USDC.

 

Borrowable assets: Currently, only USDT is available as the borrowable asset. The system automatically converts the fiat amount you spend into USDT based on the prevailing exchange rate and borrows the corresponding amount for you. More currencies may be added in the future — stay tuned for updates.

 

 

 

Is my monthly repayment the same in an installment plan?

Yes. Bybit Pay Later uses an equal principal and interest repayment structure, meaning you'll repay the same amount each month. However, the portion of principal and interest in each repayment varies. For more details, check here.

 

 

 

What installment durations can I choose?

You can choose from 2-, 3- or 6-month installment plans.

 

 

 

How can I use Bybit Pay Later with Bybit Card?

There's no need to activate Bybit Pay Later separately. You can split your purchase into monthly installments by following these steps:

 

Step 1: Make your purchase using your Bybit Card, and pay with your own assets first.

 

 

Step 2: Access the Convert to installment option through any of the following methods:

• From the Bybit Pay Later page, select Convert to installment.

• Tap the push notification you receive after your purchase to go directly to the installment confirmation page.

• From the Bybit Card transaction history page, check the Eligible for installments box under Authorization, or select the transactions with the card icon.

 

 

Step 3: Select your preferred installment plan, then tap Confirm.

 

 

Step 4: Repay on time once your monthly statement is generated.

 

For more detailed instructions, please refer to How to Get Started With Pay Later on Bybit Card.

 

 

 

Can I choose installments for all my Bybit Card purchases?

No. To be eligible for installments, a Bybit Card transaction must meet the following requirements:

 

 

The most recent eligible transaction will appear in the Convert to installment section on the Bybit Pay Later page. You can also tap See all available to view more eligible transactions in your transaction history. 

 

 

 

How is my maximum borrowable amount with Bybit Pay Later determined?

Bybit Pay Later assigns each user a total spending credit, which is the maximum amount you can borrow and is shared across both Bybit Card and Bybit Pay.

 

This amount is calculated based on the USD value of the top 20 crypto assets held in your Funding Account and Pay Later collateral account. Each asset's value is weighted according to its collateral ratio. For more details on specific collateral ratios by asset, please refer to this page.

 

Your available spending credit is the amount you can currently borrow, calculated as your total spending credit minus any outstanding installment balance.

 

 

 

What are the maximum and minimum installment amounts for Pay Later on Bybit Card? 

• The maximum installment amount equals your total spending credit.

• The minimum installment amount is $200.

 

 

 

Can I set an installment reminder to know if my Card purchase is eligible for installments?

Yes. Push notifications are available for Bybit Card transactions. You can set a minimum transaction amount to trigger these notifications. The default threshold is $200.

 

For example, if you set the reminder threshold to $500, you'll receive a notification whenever you make a transaction of $500 or more. 

 

Please note that you won't receive reminders for transactions below your set threshold, but you can still convert those transactions into installments from the Pay Later homepage or your transaction history. You can also disable the reminder anytime as needed.

 

 

 

How can I view and repay my monthly installments?

Your monthly installment statement will be available on the first day of each month. Generation begins at 12AM UTC and may take a few hours to complete. You'll receive an app push notification and an email reminder when your statement is ready. The statement includes your total amount due and transaction details.

 

Once you've received the statement, tap Repay to settle the due amount by the 8th of the month.

 

 

 

What are the Loan-to-Value (LTV) ratios for Bybit Pay Later?

Bybit Pay Later uses the following Loan-to-Value (LTV) ratios:

• Initial LTV: 80%

• Margin Call LTV: 85%

• Liquidation LTV: 95%

 

The LTV ratio is calculated under Cross Margin mode by dividing your total borrowed amount across all Pay Later orders by the total collateral value. Orders made via Bybit Card and Bybit Pay are combined and calculated as a whole. For more details on how LTV works, please refer to this article.

 

Please note that collateral used for Bybit Pay Later is managed separately from Crypto Loans and cannot be shared between the two services.

 

 

 

How does the collateral work on Bybit Pay Later?

When you use Bybit Pay Later for a Bybit Card transaction, the system automatically selects crypto assets from your Funding Account as collateral, starting with the asset that has the highest USD value. Please note that stablecoins cannot be used as collateral. The required amount is then transferred to your collateral account. You can add or reduce collateral from your Bybit Pay Later dashboard at any time after the purchase. More details on collateral adjustment can be found here.

 

If you add more collateral later and make another purchase, the system will first check whether your collateral account has sufficient funds. If there's enough collateral and your LTV ratio after the purchase does not exceed the initial threshold of 80%, the system will directly use the available collateral.

 

If there isn't enough, the system will automatically select additional crypto assets from your Funding Account in descending order of USD value until the required collateral amount is met. If your Funding Account doesn't have sufficient assets to cover the collateral, the installment option will be unavailable.

 

 

 

What account can I use to provide collateral for Bybit Pay Later?

Once your Pay Later order is confirmed, the required collateral will be automatically transferred from your Funding Account to your Bybit Pay Later collateral account.

 

 

 

How can I adjust my collateral after placing a Pay Later order?

You can adjust your collateral at any time from the Bybit Pay Later dashboard. Tap LTV status to open the Collaterals page, where you can add or reduce collateral as needed. For more details, refer to this article.

 

 

 

Can I repay early?

Early repayment is not available before the monthly statement is generated. Once your monthly statement is ready on the first day of each month, you'll have until the 8th to complete the repayment. Interest is calculated at a fixed rate on a monthly basis, so the total interest amount remains the same regardless of when you repay during this period.

 

Make sure to repay by the due date — otherwise, penalty interest at three times the regular rate will be charged.

 

 

 

Is partial repayment supported?

Yes, partial repayments are supported on a monthly basis. Once your monthly statement becomes available, you can choose to repay your monthly due amount either in full or partially. Simply tap Edit amount in the Repayment window and enter your preferred repayment amount. However, please ensure that all dues are settled by the 8th of each month to avoid penalty interest or liquidation.

 

For example, if your October due amount is 5,000 USDT, you can repay 1,000 USDT on Oct 3, 1,500 USDT on Oct 5, and the remaining 2,500 USDT on Oct 8.

 

Please note that only USDT from your Funding Account can be used for repayments. Any overdue amount will not carry over to the next month — as liquidation will be triggered if payment isn't completed within the 72-hour grace period. 

 

 

 

Can I repay my installments using a different asset from the one I borrowed?

No. All Pay Later repayments must be made in the same asset you borrowed, which is USDT.

 

 

 

What happens if my purchase made with Bybit Pay Later is canceled or refunded?

Once a Pay Later installment plan is confirmed, the borrowed amount will be released to your Funding Account, and the installment cannot be changed or canceled. If your original Bybit Card purchase doesn't go through, you'll receive a notification prompting you to retry the payment using Pay Now to complete your purchase.

 

However, even if your purchase is ultimately canceled or refunded, your installment order will remain active, and you'll still need to make the required repayments according to your monthly statement.

 

 

 

Why didn't I receive my collateral after making a repayment?

If you have more than one Pay Later order, your collateral will only be returned once all orders are fully repaid. This is because Bybit Pay Later operates in Cross Margin mode, where your collateral is shared across all orders to help reduce the risk of liquidation.

 

If needed, you can choose to reduce your collateral — up to the amount that would bring your LTV ratio back to the initial level of 80%.

 

Once all your installments are fully repaid, any remaining collateral will be automatically transferred from your collateral account back to your Funding Account.

 

 

 

What if I use a bonus for a Pay Later purchase?

Your Pay Later borrow amount will be based on the actual amount you pay — that is, the purchase total minus any bonus applied. For example, if you make a $100 purchase and use a $5 bonus, your borrow amount will be based on $95 ($100 − $5).

 

 

 

How is the amount due in my monthly statement calculated?

Your monthly statement includes the principal and interest accrued during the previous billing cycle. For example, a statement generated on Oct 1 will include all installments for transactions made in Sep.

 

 

 

I didn't use Pay Later with my Bybit Card. Why do I still see an outstanding amount on the dashboard?

The total outstanding balance and available limit shown on your dashboard are shared across all Pay Later transactions, whether made through Bybit Card or Bybit Pay. This means that even if you've only used Pay Later with Bybit Pay (and not with your Bybit Card), the outstanding balance will still appear on the Bybit Card dashboard — and vice versa.

 

 

 

Are there any risks associated with Bybit Pay Later?

Yes. Bybit Pay Later is an overcollateralized financial service and carries the following risks:

• Liquidation risk: If your Loan-to-Value (LTV) ratio reaches or exceeds the Liquidation LTV, your collateral assets will be liquidated to repay your borrowed amount and any accrued interest. A 2% liquidation fee will also apply. For more details, refer to this article.

• Overdue interest: If you fail to make a repayment by the due date, a penalty interest rate equal to three times the regular rate will apply during a 72-hour grace period. After this period, liquidation will be initiated.

 

 

 

Can I earn cashback from a Pay Later transaction?

Yes. In addition to the cashback you earn from the Rewards Program when spending with your Bybit Card, you can receive extra cashback if you convert your transaction into a Pay Later installment. For more details, refer to this article.