Ethereum Classic (ETC) continues to attract interest from investors, traders, and crypto enthusiasts worldwide. As a decentralized, proof-of-work blockchain with strong ideological roots in immutability, ETC offers a compelling alternative to other smart contract platforms. One of the most popular gateways to acquiring and trading ETC is Bybit, a leading centralized cryptocurrency exchange.
This guide walks you through the entire process of buying, trading, and managing Ethereum Classic using Bybit—while emphasizing security best practices and long-term asset protection.
What Is Bybit?
Bybit is a centralized cryptocurrency exchange (CEX) launched in 2018. It has grown into one of the largest platforms globally, serving over 20 million users across more than 160 countries. The platform supports high-volume trading, with daily turnover exceeding $10 billion.
As a CEX, Bybit acts as an intermediary where users can buy, sell, and trade digital assets like Bitcoin (BTC), Ethereum (ETH), and Ethereum Classic (ETC). The exchange provides secure servers, trading interfaces, and customer support for both beginners and advanced traders.
To comply with global financial regulations, Bybit enforces strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. This means users must verify their identity using government-issued IDs and provide personal information such as address and residency status.
⚠️ Note: Bybit does not serve users based in the United States.
While convenient, centralized exchanges carry inherent risks—most notably the possibility of insolvency or security breaches. Therefore, it's always recommended to transfer your holdings to a self-custody wallet after purchasing.
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Why Use Bybit to Buy Ethereum Classic?
Bybit offers several advantages for those looking to enter the ETC market:
- High liquidity ensures fast execution of trades.
- Support for ETC/USDT trading pair, making it easy to use stablecoins for purchases.
- User-friendly interface available on web and mobile apps.
- Advanced tools for technical analysis and order types.
- Strong security protocols including two-factor authentication (2FA).
However, remember that while Bybit is excellent for trading, it should not be used as a long-term storage solution for your crypto assets.
Step-by-Step: Buying Ethereum Classic on Bybit
1. Create a Bybit Account
Start by visiting Bybit.com and clicking the "Register" button. You'll need to provide either an email address or phone number for verification.
Next, complete the KYC process by uploading a valid ID document (e.g., passport or driver’s license). Verification times vary but typically take just a few minutes to a few hours.
🔐 Tip: Use strong passwords and enable 2FA during registration to enhance account security.
2. Deposit Funds or Cryptocurrency
Once your account is verified, navigate to the "Deposit" section in the top-right corner.
You have two main options:
- Deposit fiat via P2P trading: Buy USDT using local payment methods like bank transfer or e-wallets.
- Send crypto from another wallet: Transfer BTC, ETH, or USDT directly to your Bybit wallet address.
For ETC trading, you’ll want to hold USDT, as ETC/USDT is the primary trading pair available.
👉 Learn how stablecoins make crypto investing easier and more accessible.
3. Trade USDT for Ethereum Classic
Go to the "Trade" menu and select "Spot Trading." Search for the ETC/USDT pair.
On the right-hand side of the screen, you'll see the order panel. Choose "Market Buy" to purchase ETC instantly at the current price, or use "Limit Buy" to set your desired price.
After confirming the transaction, your ETC will appear in your Bybit account under "Assets."
Managing Your Ethereum Classic: Deposit, Withdraw, and Send
Receiving ETC on Bybit
If someone wants to send you Ethereum Classic, go to Assets > Deposit > ETC.
Make sure to select ETC as the network (not ETH or any other chain). Copy the provided deposit address and share it securely.
⚠️ Always double-check the network type—sending ETC via the wrong chain could result in permanent loss.
Withdrawing ETC to Your Wallet
To withdraw ETC:
- Go to Assets > Withdraw > ETC
- Enter your external wallet address
- Select ETC as the chain
- Specify the amount
- Confirm with 2FA
Processing times are usually fast, especially during low-network congestion periods.
The Importance of Self-Custody: Move ETC to a Non-Custodial Wallet
While Bybit is great for trading, it should not be your primary storage solution.
Here’s the optimal strategy:
- Start with your bank account
- Transfer funds to Bybit
- Buy USDT or BTC
- Trade for ETC
- Transfer ETC to your non-custodial wallet
Non-custodial wallets—like hardware wallets (Ledger, Trezor) or software wallets (MetaMask, Trust Wallet)—give you full control over your private keys. This means only you can access your funds, eliminating counterparty risk.
✅ “Not your keys, not your coins.” – Core principle in crypto security.
Storing at least 80% of your holdings in self-custody significantly reduces exposure to exchange-related risks.
Who Uses Bybit to Trade Ethereum Classic?
Investors
Long-term believers in Ethereum Classic’s vision of censorship-resistant blockchain use Bybit as an entry point. After purchase, they often move ETC to cold storage for safekeeping.
Miners
ETC miners generate around 17,000 ETC per day collectively. To cover operational costs like electricity and payroll, many sell portions of their earnings on exchanges like Bybit for stable fiat or USDT.
Speculators
Day traders and speculators contribute significant volume to the ETC market. Their activity increases liquidity, benefiting all participants by tightening spreads and improving market efficiency.
Merchants
Business owners accepting ETC as payment may use Bybit to convert received tokens into usable revenue for expenses or payroll—especially useful in regions with limited crypto banking infrastructure.
Frequently Asked Questions (FAQ)
Q: Can I buy Ethereum Classic directly with USD on Bybit?
A: Not directly. You’ll first need to convert USD to USDT via Bybit’s P2P marketplace before purchasing ETC.
Q: Is it safe to keep my ETC on Bybit long-term?
A: No. While Bybit employs robust security measures, no exchange is immune to hacks or operational failures. Always transfer large holdings to a self-custody wallet.
Q: Are there fees when buying ETC on Bybit?
A: Yes. Trading fees are typically around 0.1% per spot trade, though they can be reduced with higher trading volumes or VIP tiers.
Q: What should I do if my withdrawal is stuck?
A: Check the network confirmation status using a blockchain explorer. If everything looks correct but the funds haven’t arrived, contact Bybit support with your transaction ID.
Q: Can I use leverage to trade ETC on Bybit?
A: Yes. Bybit supports leveraged trading for ETC through futures contracts, but this is suited only for experienced traders due to increased risk.
Q: How do I verify my identity on Bybit?
A: During registration, upload a clear photo of your government-issued ID (passport, ID card, or driver’s license) and complete a live selfie verification.
Final Thoughts: Balance Convenience With Security
Bybit offers a powerful platform for buying and trading Ethereum Classic with ease and speed. Its intuitive design, strong liquidity, and global accessibility make it a top choice among traders.
But remember: convenience should never come at the cost of security. Always treat exchanges as on-ramps—not vaults.
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