FAQ — Bybit Web3

    bybit2022-10-21 19:12:34

    What is Bybit Web3?

    Bybit offers Web3 services to connect you to the world of Web3 with the best-in-class reliability and security.

    Bybit's Wallet provides easy access for you to explore the new and exciting world of Web3. Bybit helps ensure the security of your digital assets — so that you can explore the next generation of the World Wide Web and its tokenized economy, without the hassle of managing and storing private keys. As a custodial wallet, the Bybit Wallet holds your assets in custody and owns the private key to your wallet.

    To learn more about Bybit Web3, please visit here.

     

    What benefits does the Bybit Wallet offer?

    With just a single click to create it, the Bybit Wallet is easy to use and requires no individual responsibility when managing private keys, making it convenient for newcomers to the Web3 space. You simply log in to your Bybit Wallet with your Bybit account. 

    For more information, please refer to How to Get Started with Bybit Web 3.

     

    What's the difference between Bybit.com and Bybit Web3?

    Bybit.com is the most reliable crypto trading platform where you can buy, sell, and trade crypto. Products and services provided include Spot, Derivatives, NFT Marketplace, Bybit Earn and Buy Crypto. Bybit has an industry-leading HD cold wallet system that guarantees the safety of your funds.

    Bybit Web3 is a Web3 service that allows users to access Web3, including access to a crypto wallet and DApp store. The private keys that represent ownership of cryptocurrencies are safely stored in Bybit’s cloud service, providing users with leading-edge security.

     

    Can the assets of my Bybit account and Bybit Wallet be transferred internally?

    Currently, mutual transfers between your Bybit account and Bybit Wallet are not supported. 

     

    Which assets and networks are supported?

    Bybit Web3 supports Ether (ETH), BSC and ERC-20 tokens

     

    What's a DApp? 

    Decentralized applications (DApps) are open-source software that are designed to run on peer-to-peer (P2P) blockchain networks, rather than centralized servers. DApps are similar to web apps, but they’re P2P-supported.

    To learn more about DApps, please visit here.

     

    What types of DApps does Bybit Web3 support?

    Supported DApp categories include DeFi, GameFi, and NFT. You can view the supported DApps on the Bybit Web3 page.

     

    Can I change my Bybit Wallet address?

    You cannot change your Bybit Wallet address once it has been created.

     

    What is the Watch-Only address used for? 

    “Watch-Only” wallet allows you to observe the token holding details of the wallet address, including Asset, Price, Quantity, and Value.

     

    What’s Ethereum (ETH) Gas?

    “Gas” is the term for transaction fees on the Ethereum blockchain network. For more information, please refer to What Is ETH Gas & How Does It Impact the Ethereum Network?.

     

    How can I avoid crypto scams?

    There are many different cryptocurrency scams that can victimize users on a daily basis, including fake apps, DeFi scams, and more. 

    For more information, please refer to How to Avoid Crypto Scams.

     

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