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. Learn more here.

 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.

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.

 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 

, which offers high order limits — up to $200,000 per order — as well as expedited transaction processing.

 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

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 

), bank transfers, Apple Pay, Google Pay and other payment methods.

 is another way to purchase USDC on Bybit. The Auto-Invest option allows you to automatically buy crypto at regular intervals using the popular 

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 

 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.

 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 

 function to buy the stablecoin as follows:

Steps to for buying USDC via Bybit Convert

USDC is more than just a stablecoin for trading; it offers various applications within and beyond the Bybit ecosystem.

USDC serves as a reliable base currency for trading various cryptocurrencies on Bybit.

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.

USDC has emerged as a popular payment method due to its stability and wide acceptance.

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.

USDC offers various investment opportunities on Bybit and beyond.

The benefit of investing with USDC is that your principal amount remains stable while generating returns, which is particularly attractive in volatile market conditions.

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.

Beginner

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A complete guide on how to buy USDC on Bybit

Apr 21, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Trump wants to fire Powell? 

US president Donald Trump is actively considering firing Federal Reserve Chairman Jerome Powell, following Trump's public criticism of Powell for not moving quickly enough to reduce interest rates. National Economic Council Director Kevin Hassett confirmed that the administration is examining this option, suggesting that Powell's actions have politically favored Democrats. Hassett argued that the Federal Reserve's decision to raise interest rates shortly after Trump took office was intended to undermine the economic impact of the tax cuts implemented during his administration, which were deemed inflationary. He further criticized the Fed for not addressing inflation concerns stemming from federal spending under President Biden, implying a lack of accountability.

During a recent press conference, Trump conveyed his dissatisfaction with Powell, asserting that if he wanted to remove him, it could happen "real fast." While he did not explicitly state his intention to dismiss Powell, his remarks highlighted the growing tensions between the White House and the Federal Reserve regarding monetary policy. Hassett defended Trump's frustrations, advocating for a focus on economic policy rather than interpersonal conflicts. This situation underscores the complex dynamics between the executive branch and the central bank, as Trump navigates economic challenges leading up to the next election.

Weekly crypto highlight — XRP ETF coming

HashKey Capital has officially launched the HashKey XRP Tracker Fund, marking the first investment fund in Asia designed specifically to track the performance of XRP, the digital asset integral to Ripple's global payment ecosystem. This fund is aimed at professional investors and offers a unique opportunity to gain exposure to XRP without the complexities of direct asset management. Investors can subscribe through cash and in-kind options, with the fund providing monthly liquidity.

Ripple, as an early backer of the fund, is looking to enhance its strategic partnership with HashKey Capital, which already manages Hong Kong–listed spot ETFs for Bitcoin and Ethereum. This collaboration not only solidifies Ripple's presence in the Asian market, but also opens avenues for future financial products, such as the potential tokenization of a money market fund on the XRP Ledger. Fiona Murray, Ripple's Managing Director for the Asia-Pacific region, highlighted that this partnership is part of a broader strategy to introduce more regulated cryptocurrency products for institutional investors in the region, aiming to foster a more robust crypto landscape in Asia.

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Weekly Institutional Insights: Trump’s desire to fire Powell might induce volatility; XRP ETF coming

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards.

Daily top performer — Pyth Network (PYTH)

The S&P 500 dropped 1.5% to 5,282.70 this week, down 5.9% in April and 10% year-to-date, led by tech losses. Real estate and energy outperformed, while political pressure on Fed Chair Powell and inflation concerns weighed on sentiment. Gold dipped 0.6% to $3,319 after a record high, as Powell’s stagflation warning tempered its rally. Despite the pullback, the uptrend remains intact. The Coindesk Indices, which tracks the broader crypto market, are up by 0.77%, with Bitcoin and Ether rising 0.64% and 0.72%, respectively, over the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is PYTH, up 10.1%, following the launch of Pyth Entropy for secure on-chain random number generation by Soneium.

Pyth Network (PYTH),  is a blockchain oracle system that delivers real-time crypto price data to blockchains, enabling smart contracts to react to market changes. Soneium 

 Pyth Entropy, a tool for securely generating random numbers on-chain. Two apps, HandsNFT AI and 2p2e, are already utilizing Pyth Entropy to create unpredictable and engaging experiences.

Check out the latest prices, charts, and data of 

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards. This approval follows recent changes to local laws, with China Asset Management (ChinaAMC) partnering with OSL Digital Securities to launch the ETF by May 15. The ETF will offer exposure to Ethereum staking, transforming it from a passive investment into an active participant in the Ethereum network. The staking process is powered by Kiln, with OSL providing custody and insurance services. The rewards will contribute to the ETF's net asset value, benefiting shareholders.

Yesterday, Bitcoin spot ETFs saw $25.9M in inflows, all from non-GBTC funds, while GBTC recorded no flow.

" and a points campaign called Drops, where users can earn points—potentially leading to an airdrop—by engaging with Linera content on X. To join, sign up on 

, complete tasks like joining Discord and interacting on X, then enter the campaign. Keep engaging to earn more points, but avoid spamming.

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Hong Kong approves Ethereum ETF with staking rewards, boosting institutional participation

Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

US president Donald Trump’s tariff policies are influencing both crypto and US equities. Last week, BTC and the S&P 500 rallied due to a 90-day pause in reciprocal tariffs (excluding China). Equities are slightly below their April 9 highs, while BTC is holding above $83K. Its implied volatility term structure has normalized, and the volatility skew has improved from last week’s bias toward out-of-the-money puts, though it hasn't fully shifted toward calls.

Please check out the report’s highlights.

Tariff pause briefly brings back trading volume

Since our last report, open interest surged on Apr 9, 2025, as crypto spot prices rose after President Trump’s temporary tariff pause, accompanied by a nearly $10B increase in trade volumes. However, trade volumes have since returned to mid-March levels, and open interest has declined from the April 9 highs. The initial price spike indicates the tariff pause surprised the markets, but the subsequent pullback reflects concerns over remaining tariffs.

After being inverted for much of April due to trade policy shocks and macro headwinds, BTC’s term structure has disinverted, with front-end volatility dropping significantly this week. Call and put volumes have been balanced, with calls slightly exceeding puts most days. Apr 9, 2025, reflected mixed market sentiment, as both call and put volumes rose, but puts were higher overall. Open interest remains greater in calls, and has increased slightly since last week, reaching its highest level for the month (more than double from the beginning of April).

Despite a rally on Apr 9, 2025 that brought ETH close to $1.7K, traders sought downside protection, leading to higher volumes in put contracts as compared to calls. Since then, ETHUSDT options volumes have declined, but open interest remains strongly weighted toward calls with later expirations, which have increased since last week. After being inverted for much of April, ETH’s term structure of volatility has flattened, with volatility compressing around the 70% mark across tenors.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 16, 2025): Bitcoin put bias has moderated, but not yet shifted to calls

Options

Put options are excellent tools for hedging and speculation. They have high potential for profit and can help you tide through severe price fluctuations.

Financial markets have been abuzz with activity since the 17th century. While they’re a great place to make profit, the risk of losing money is also very real. Multiple asset classes are available for trading: Among them, options are considered a relatively low-risk investment. Traditionally, stock options are traded, but it’s hard to ignore 

, given the boom of cryptocurrency in the past few years.

While options can be tied to any asset (e.g., stocks or bonds), crypto options are specifically tied to the performance of crypto assets. As a result, a trader doesn't need to own an asset before buying or selling the option for it. With crypto options, investors of any portfolio size can participate in the crypto market and reap its benefits.

 that confer upon the trader the right (not the obligation) to

 an underlying asset at a specified price or 

 after the premium is paid. An options contract usually lasts for a specific time period, within which the option must be exercised. This contract lapses on a particular date, known as the 

Crypto options trading is a way for options holders to be part of the crypto market without necessarily owning the crypto itself. Not only are crypto options cheaper than their underlying assets, they’re also perceived to be less risky. The low level of risk involved and high leverage potential are arguably the biggest draws for retail traders.

Apart from giving traders a way to predict or speculate on the financial value or price movements of assets in the market, options are also used by institutional investors for 

, crypto options have become a popular alternative for investors looking to get a slice of the crypto pie.

Crypto put options are contracts that confer upon the option buyer the right (but not the obligation) to 

a specific amount of an underlying asset at a predetermined price within a particular time frame. The predetermined price is known as the 

“Expiration time” refers to the time frame within which the options contract is still valuable. Once the expiration time has passed, the put option loses all its value.

Various underlying assets like stocks, bonds, indexes and futures can be traded using put options, by which the seller determines how the contract is run. The options buyer is required to pay the seller a specific fee on each share in order to purchase the contract. This fee is known as the 

, and it represents one of the same underlying assets. For example, one crypto option contract on BTC would be the same as controlling 1 BTC token. You do not have to own the underlying cryptocurrency to buy or sell put options. 

A crypto put option — the opposite of a crypto call option — confers upon the user the right to sell an underlying stock at the strike price before the expiration date is reached. Several factors affect the price of a put option, including (but not limited to) the volatility of the crypto market, interest rates, time decay, and the value of the strike or specific price.

Generally, the value of a put option increases with a drop in the price of the underlying asset.

A portion of a crypto put option’s value is tied to a fall in the price of the underlying stock. This means that the value of a put option increases with a decrease in the price of the underlying asset. A put option begins to lose value with a rise in the price of the asset to which it is tied. Following this, put options are used for hedging, or predicting a downward slope in the price of specific assets.

 is one used by put options traders as a risk management strategy. The main function of a protective put is to make sure that the drop in the price of a particular asset doesn’t fall below a set level. You can decide to sell or buy a put option, and the transaction is carried out on a 

When buying a put option, the buyer predicts that the value of the asset will drop over a specified time frame before the expiration date. When selling a put option, the seller speculates that the value of the asset will rise or remain unchanged during the valid period of the contract, or before the option expires.

If the market price moves in favor of the options holder, they can decide to exercise their put by selling the underlying asset at the strike (or set) price. Fundamentally, options can be divided into two types:

American-style options allow the holder to exercise their option on or before the expiration date, while European style options only allow the holder to exercise their options on the date of expiration. If the market price remains the same or increases, the options sellers get the premium paid by the buyer.

A put option is said to be OTM (out of the money) if it has no intrinsic value at expiration. 

, it is said to be ITM (in the money) if it still has intrinsic value at expiration.

Crypto Put Options vs. Crypto Call Options

Other than put options, the other main type of option is the call option, which increases in value as the price of the asset rises. Call options are the opposite of put options, but both types give holders the chance to earn a profit much higher than their investments.

A put option benefits from a decline in market price, while a call option benefits from a rise in the market value of the asset.

Selling both a call option and put option attracts a premium. In the event that the crypto market takes an unfavorable turn, the seller bears all the risks involved.

Let’s say that Sandra, an investor, decides to buy a Bitcoin put option as a form of insurance over her position in Bitcoin. After a while, she speculates that a 

 is near, and she isn’t ready to forfeit more than 10% of her long position in Bitcoin. 

Let’s assume Bitcoin is currently trading at $30,000 per coin, and Sandra purchases a put option that will give her the right to sell it at $27,000 within the next 2 years.

If, within 6 months, a 20% (500 points) loss is recorded, Sandra will have recovered 250 points simply by being able to sell at $27,000, rather than the current market price of $24,000, which is a loss of only 10%. Even if the market crashes to $0, Sandra will still only record a loss of 10%.

Conversely, if the market doesn’t drop within this time frame, Sandra can decide to let the put expire. If she does so, she will only lose the premium fee.

Buying and Selling Puts: Strategies and Examples

This is a popular strategy used by traders. Here, the trader buys a “going long” put option in the hope that the 

market price will fall below the strike price at expiration

. The benefit of this strategy is that in the event of a drastic price reduction, the trader can get back many times their initial investment.

Stock Q trades for $30 per share, with a strike price of $30 with 4 months to expiration. The premium is $1 per share.

If, at expiration, the share price is $29, the put breaks even. If it is between $29 and $30, a net loss is recorded, as only a part of the option’s premium is recovered. 

If the stock falls to less than $29, the trader gains $100 for every share they own. The lower the price, the higher the gain recorded by the trader. If the stock rises above $30, the put is rendered valueless, and the trader loses the option premium of $100.

This is simply the opposite of the long put. Here, the trader sells a “going short” put in the hope that the asset price will 

rise above the strike price at the point of expiration

. The seller of the put earns a premium in exchange for selling the put. This premium is the highest reward that can be obtained for trading a short put. If the asset price falls below the strike price, the trader is obligated to buy it back at the strike price.

If stock A is trading at $40 per share, with a strike price of also $40 with 5 months to the expiration date. The premium is $1 per share.

If, at expiration, the share price is below $39, the put costs the trader $100 for every dollar loss. The lower the stock price, the greater the loss incurred by the trader. If the stock price rises above $40, the seller earns the full premium. If the market price falls between $39 and $40, the seller earns only a part of the premium.

This is simply an upgrade of the long put. In this case, the trader buys both the underlying asset and a put option. This is a hedging technique. The trader expects the asset price to soar, but still wants a form of insurance in case the stock price declines. If the stock price actually declines, the long put covers the loss incurred.

Stock P trades for $30 per share, with a strike price of $30 with six months to expiration and a total premium of $100. So, the trader buys 100 shares of P for a total of $3,000 and one put option for $100.

If at expiration, the share price is $29 or $30, the put breaks even, resulting in a net loss, as only a part of the premium is recovered. If the share price drops below $30, the long put covers the loss evenly. If the share price rises above $31, the net gain increases by $100 for every corresponding gain in price, although the put becomes valueless, and the trader loses the premium fee they paid.

This strategy is very popular in options trading. The 

 is typically used when the call trader or call writer speculates on an increase in the future price of an underlying asset.

The key to using this strategy is to sell higher and buy lower. Simply put, you sell a put option with a higher strike price, and then buy another option with a lower strike. However, both options must have the same expiration date. 

Although the risks involved here are minimal, they do still exist. If, at expiration, the asset price moves below the strike price, a loss will be recorded, as the two put options will be ITM.

For instance, an institutional investor guesses that the price of Bitcoin — selling at, say, $20,000 per token — will increase within a month.

The investor can sell one put option for a $3,000 premium fee, with a strike price of $25,000 expiring in one month, and buy another put option for a premium fee of $1,000, with a strike price of $22,000, set to expire in one month.

Following this example, the investor gains a net profit of $2,000. The net profit is calculated as the difference between the two premium fees paid for the two options ($3,000 − $1,000 = $2,000). 

Conversely, if the price of Bitcoin falls between the strike prices of $20,000 and $25,000 per token at the date of expiration, the institutional investor will record a loss. 

The final price has an impact on the value of the investment. Here are the different possible scenarios (capped at a $3,000 loss and a $2,000 gain.)

is applied when an investor predicts a decline in the price of an asset.

This strategy aims to reduce cost and risks, while also ensuring that the investor makes as much profit as possible.

To use this strategy, the investor first purchases a “buy put” option, after which they purchase a “sell put” option with a lesser strike price. For this to work, both options must be tied to the same underlying asset, and have the same expiration date.

For instance, stock Q is trading around $350 and is bought at a $3 premium, with a total cost of $300 (100 x $3 = $300). A trader could buy it while also selling another put option at $330 at a $1 premium, with a total cost of $100 (100 x $1 = $100). The two options should, however, be executed simultaneously.

The option is calculated in spreads. The net debit spread is $2 (the price difference between the options, $3 - $1 = $2). The highest loss that can be incurred is the premium fee of $200 (i.e., $300 − $100 = $200).

By buying a put option and selling another, the trader spends $200 instead of $300 (from buying the $350 put alone). However, the profit potential is limited to [($350 - $330) x 100] - $200 = $1,800. 

Should I Buy Puts In-the-Money (ITM) or Out-of-the-Money (OTM)?

Deciding to buy puts in-the-money (ITM) or out-of-the-money (OTM) is entirely dependent on your specific investment objectives, the level of capital at your disposal, your risk appetite and the interest rates. The price for ITM put options is higher than that of OTM put options. This is because ITM put options have a lot of intrinsic value, and confer on options traders the right to sell underlying assets at higher prices. However, the lower cost of out-of-the-money puts is due to the fact that they’re likely to be less profitable at expiration.

How Is Crypto Put Option Trading Different from Traditional Put Option Trading?

Traditional put trading requires the trader to own the underlying stock or asset to be 

 contrast, in crypto put trading, the options trader is not obligated to own the particular asset before being able to sell or buy the option.

Traditional options require the holder to have a minimum trading fund, which is usually on the high side: The higher the fund, the higher the position held. However, with crypto put trading, options holders can acquire higher leverage positions with a small amount of capital. 

Alternatives to Exercising a Crypto Put Option

A put option buyer isn’t obligated to hold a put option until it reaches expiration. As changes in the price of the underlying asset are recorded, the options premium fee will also be adjusted to reflect the reality of the current changes in price. The options buyer may decide to sell off their option in the options market. This is done in a bid either to make a profit, or minimize a loss. The outcome of this depends on the price variations recorded from the initial time of purchase.

Similarly, an option writer can perform the same action. If the asset records a higher price over the strike price, they may decide to leave it to expire. Doing so will ensure that they keep the entire premium. On the flip side, if the underlying asset fails, and its price drops lower than the strike price, the holder may decide to get out of their position by buying back the option to bypass making a loss. The profit or loss is calculated as the difference between the premium received and the premium paid to exit the position.

Crypto options are a derivative product that can be traded on Bybit. As of this writing (May 27, 2022), BTC options are available on the platform. Follow the steps below to get started.

Pick the desired expiration date, or show all the expiration dates at once, and then pick one.

Choose the type of option you want to buy (in this case, 

Review the details of the options and select the one you want to buy, either by price or action (buy or sell).

Put Options: Effectively Manage Price Risk With This Tool

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