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. 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 Pay?
Pay Later on Bybit Pay allows you to borrow funds directly at the time of purchase and repay in monthly installments. Unlike the post-purchase installment model on Bybit Card, you can choose to split your payment into installments at checkout, gaining instant liquidity without using your own assets upfront.
Example:
Suppose User A wants to make a purchase worth 2,000 BRL and chooses to use Pay Later to split the payment into 6 monthly installments for additional liquidity. The system will automatically calculate the required USDT amount based on the BRL-to-USDT exchange rate at the time of order confirmation, along with the applicable interest and monthly repayment.
User A can then repay the principal and accrued interest over 6 months, starting from the following month.
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 Pay?
There's no need to activate Bybit Pay Later separately. You can choose to pay in monthly installments during checkout by following these steps:
Step 1: Select Bybit Pay as your payment method and choose Pay Later on the checkout page.
Step 2: Choose a 2-, 3- or 6-month installment plan based on the displayed interest rate and monthly repayment.
Step 3: Tap Pay next month to confirm your installment order.
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 Pay.
Can I choose installments for all my Bybit Pay purchases?
No. To be eligible for installments, a Bybit Pay transaction must meet the minimum installment amount and be within your available borrowing limit.
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 Pay?
-
The maximum installment amount equals your total spending credit.
-
The minimum installment amount is $10.
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 Pay 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, it cannot be changed or canceled. This means that even if your original Bybit Pay purchase is later canceled or refunded, your Pay Later order will remain active, and you'll still need to make the required repayments according to your monthly statement. In this case, the borrowed amount will appear in your Funding Account balance and be available for use.
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 Bybit Pay. 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 your Bybit Card (and not with Bybit Pay), the outstanding balance will still appear on the Bybit Pay 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 Pay, you can receive extra cashback if you select to pay with Pay Later installment. For more details, refer to this article.