Are you a Nigerian crypto trader using the Cbex trading platform and wondering how to withdraw your funds from Cbex to Bybit? You are not alone. Many traders are now moving their assets between exchanges for better trading opportunities, lower fees, or advanced trading tools. If you’re one of them, this guide is perfect for you.
In this blog post, we will walk you through everything you need to know about withdrawing from Cbex to Bybit in Nigeria. Whether you’re a beginner or an experienced trader, this step-by-step guide will help you move your crypto easily and safely.
1. What is Cbex Trading Platform?
Cbex is a digital asset trading platform where you can buy, sell, and store various cryptocurrencies. It allows users to trade Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and other coins. Cbex is gaining popularity among Nigerian traders because it supports naira deposits, peer–to-peer (P2P) trading, and fast transactions.
Key features of Cbex:
- Supports multiple cryptocurrencies
- Easy-to-use mobile and web platforms
- Secure storage for digital assets
- Supports P2P trading for Nigerians
- Fast withdrawal and deposit options
2. Why Transfer from Cbex to Bybit?
You may want to transfer your assets from Cbex to Bybit for several reasons:
- Advanced Trading Tools: Bybit offers more trading features like futures, margin trading, and staking.
- Better Liquidity: Bybit has higher liquidity, making it easier to buy or sell large amounts of crypto.
- Lower Fees: Bybit’s trading fees are generally lower than most small exchanges.
- Security: Bybit is a globally trusted exchange with strong security features.
- Promotions and Bonuses: Bybit often rewards new users with welcome bonuses and other promotions.
3. What is Bybit?
Bybit is a global cryptocurrency exchange that supports spot, futures, options, and copy trading. It’s popular for its low fees, fast execution, and advanced charting tools. Many Nigerian traders prefer Bybit for trading because it also supports NGN deposits through P2P.
Key features of Bybit:
- User-friendly interface
- Multiple trading options
- Great liquidity
- High security standards
- Supports NGN P2P trading
4. Things You Need Before Making a Withdrawal
Before you withdraw from Cbex to Bybit, make sure you have the following:
- A Verified Cbex Account: You must be logged in and have some crypto in your Cbex wallet.
- A Verified Bybit Account: Make sure your Bybit account is active.
- Correct Crypto Wallet Address: You’ll need to copy the correct crypto address from Bybit (e.g., your USDT wallet address).
- Enough Balance for Fees: Withdrawal usually comes with a network fee.
- Stable Internet Connection: Always use a secure internet connection when moving funds.
5. Step-by-Step Guide to Withdraw from Cbex to Bybit in Nigeria
Now let’s go through the complete process step-by-step.
Step 1: Log in to Your Cbex Account
Go to https://www.cbex.com or open the mobile app. Enter your email and password to log in.
Step 2: Check Your Crypto Balance
Make sure you have the cryptocurrency you want to send. It could be USDT, BTC, ETH, etc.
Step 3: Open Your Bybit Wallet
Log in to your Bybit account and go to the Assets section. Select the crypto you want to receive (e.g., USDT).
Step 4: Copy Your Bybit Deposit Address
Click Deposit, choose the network (e.g., TRC20 for USDT), and copy the deposit address. Always double-check the network and address to avoid loss.
Step 5: Go Back to Cbex and Start the Withdrawal
On Cbex, go to the Withdraw page. Choose the same crypto and paste the wallet address you copied from Bybit.
Step 6: Choose the Right Network
Make sure the network selected on Cbex matches the one you chose on Bybit. For USDT, you might use TRC20 or ERC20.
Step 7: Enter the Amount to Withdraw
Input the amount you want to send. Cbex will show the estimated fee and final amount to be received.
Step 8: Confirm the Withdrawal
Review all details carefully. If everything is correct, click Confirm. You may be asked to enter a 2FA code or email code.
Step 9: Wait for the Transaction to Process
It may take a few minutes to a few hours depending on the network traffic. You can track the transaction using the hash on a blockchain explorer.
Step 10: Check Your Bybit Wallet
Once the transaction is confirmed, your funds will show up in your Bybit wallet.
Congratulations! You’ve successfully transferred your crypto from Cbex to Bybit.
6. Supported Cryptocurrencies for Transfer
Here are some of the popular coins you can withdraw from Cbex to Bybit:
- USDT (Tether)
- BTC (Bitcoin)
- ETH (Ethereum)
- BNB (Binance Coin)
- XRP (Ripple)
- TRX (Tron)
Always check if both Cbex and Bybit support the same crypto and blockchain network before making a move.
7. Fees for Withdrawing from Cbex to Bybit
Withdrawal fees depend on the network and the type of coin:
- USDT (TRC20) – Low fees (~$1)
- USDT (ERC20) – Higher fees (~$10–$20)
- BTC – Moderate to high fees based on blockchain congestion
- ETH – Also depends on gas prices
To save on fees, it’s advisable to use TRC20 for USDT.
8. How Long Does It Take?
The transfer time depends on the blockchain network. Here’s an estimate:
- TRC20 (USDT): 3–10 minutes
- ERC20 (USDT): 10–30 minutes
- BTC: 10–60 minutes
- ETH: 5–20 minutes
Always check for confirmation emails or transaction IDs (TXIDs) to track your transfer.
9. Common Mistakes to Avoid
Here are a few mistakes you should avoid when moving your crypto:
- Sending crypto to the wrong address
- Selecting the wrong network
- Forgetting to add memo or tag (for coins like XRP or BNB)
- Not checking minimum withdrawal amount
- Using an unverified account
Always double-check every detail before confirming your transaction.
10. Is It Safe to Transfer from Cbex to Bybit?
Yes, it is safe if you follow the correct steps. Both Cbex and Bybit use modern security features like:
- 2-Factor Authentication (2FA)
- Email confirmations
- Encryption and cold storage
However, your security also depends on you. Always use strong passwords, don’t share your login details, and avoid using public Wi-Fi when making transactions.
Tips for Nigerian Users
If you’re trading from Nigeria, keep these tips in mind:
- Use TRC20 network for cheaper and faster transfers
- Watch out for CBN regulations and stay updated on crypto laws
- Use P2P on Bybit to withdraw your funds into Naira easily
- Join Nigerian crypto communities on Telegram or WhatsApp for updates and support
- Use strong security practices to avoid scams or hacks
Frequently Asked Questions (FAQs)
Can I withdraw Naira from Cbex directly to my bank account?
No, Cbex currently doesn’t support direct NGN withdrawal. You’ll need to sell your crypto using P2P platforms or transfer it to an exchange like Bybit that supports NGN P2P.
Which network is best for transferring USDT from Cbex to Bybit?
TRC20 is the best network for transferring USDT because it’s faster and has lower fees compared to ERC20.
Is Cbex available in Nigeria?
Yes, Cbex is accessible in Nigeria, and many users use it to trade and store crypto. However, always follow the current financial regulations in the country.
What if I send crypto to the wrong address?
Unfortunately, blockchain transactions are irreversible. If you send to the wrong address or wrong network, your funds may be lost forever. Always double-check everything before confirming.
How do I sell crypto for Naira after receiving it on Bybit?
You can use Bybit’s P2P trading feature. Select “Sell,” choose your preferred payment method (e.g., bank transfer), and complete the transaction.
In conclusion
Transferring your crypto from Cbex to Bybit in Nigeria is easy and safe if you follow the right steps. It gives you access to better trading tools, lower fees, and more ways to earn with your crypto. Whether you’re moving USDT, Bitcoin, or Ethereum, this guide has shown you everything you need to do it successfully.
