Bybit Supported Countries | Is Your Country On The List?
Mike Harry
Feb 2024
5 min read
Fact checked
Introduction: Bybit is a leading cryptocurrency derivatives exchange that offers up to 100x leverage on perpetual contracts for BTC, ETH, EOS, and XRP. It is a user-friendly platform that provides good liquidity and advanced trading features to traders around the world. This breakdown answers the most common questions regarding which countries are supported or restricted by Bybit!
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Bybit supported countries
Bybit is a cryptocurrency exchange that provides users with a secure and reliable trading platform to access the crypto markets.
The exchange is used by over 25 million users around the world and is mostly known for its spot and futures markets with deep liquidity and over 450 cryptocurrencies
As with many international platforms, Bybit's accessibility varies across countries is influenced by the diverse regulatory landscapes governing cryptocurrencies.
Bybit supported countries
Bybit is a global exchange and currently available to users from 200 countries which includes most European countries such as Germany, France, Netherland, Sweden, and Spain.
Bybit is also available across Latin America, Africa as well as South East Asia with support for big markets such as Brazil, Mexico, Argentina, Malaysia, Thailand, Australia and New Zealand.
Bybit Restricted Countries
Bybit has also outlined in their terms and conditions about which users and countries can't access their services.
At the time of writing, Bybit does not operate in certain excludes jurisdictions which includes the United States, the United Kingdom, mainland China, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, and certain Russian-controlled regions of Ukraine.
Bybit Derivatives Restrictions
If you happen to move to any of these Excluded Jurisdictions, or if you know of any Bybit users who are based in these places, you are required to inform Bybit immediately.
Users have to be careful in this regards because if they provide false information about where they live, Bybit has the right to close that person’s account as well as liquidate, or sell off, any open positions they might have in the market.
Furthermore, Bybit is not available to certain individuals or entities that are on specific sanction lists such as the U.S. Treasury Department’s list of specially designated nationals.
Also, if an entity is owned or largely controlled (more than 50%) by someone on these lists, they are also excluded from using Bybit's services.
Just like with the location issue, Bybit takes these restrictions very seriously. If they find out that their services are being used in connection with these Prohibited Parties, they will take immediate action.
In simple terms, Bybit follows strict guidelines about where and to whom they offer their services. These rules are in place to comply with various international laws and regulations.
As a user or potential user, it’s crucial to be aware of these restrictions and ensure that you fall within the permissible criteria to use their services.
Bybit Banned Countries
While Bybit is available in many countries around the world, due to international regulations, there are certain banned countries that won't be able to access the platform at all.
Below we have outlined the countries who citizens are banned from using Bybit's services.
The United States is part of the list of countries that are banned from using Bybit.
Bybit is actively blocking users with a US IP address and restricting them from using their Know Your Customer (KYC) process, which is required to access all their features.
Bybit KYC for US Citizens
The reason for this is that Bybit has not been licensed by a US regulatory authority such as FinCEN.
For Americans that wish to use a safe and FinCEN regulated exchanges to invest in 1,00s of digital assets, we recommend signing up to eToro or Uphold.
These are beginner friendly platforms that allow US citizens to quickly and safely deposit USD to invest in cryptocurrencies.
Bybit blocks US citizens from using their products and services in order to comply with US laws and regulations.
The reason for this is that Bybit does not as of now fully comply with the regulatory laws of the Security and Exchange Commission (SEC).
While this may change in the future, this means that currently Bybit's services are hands off for US citizens.
Is Bybit legal in the UK?
One of the most common questions related to Bybit is whether the exchange is available in the UK.
At the time of writing, Bybit's services are not accessible to individuals in the UK.
In compliance with the ban on cryptocurrency derivatives by the Financial Conduct Authority (FCA), Bybit decided in March 2023 to discontinue its services to UK customers.
As a consequence, UK residents are not permitted to open new accounts or perform trades on Bybit exchange.
When it comes to other European countries like Germany, Netherlands and Spain, these countries are restricted from using Bybit's futures products.
Is Bybit legal in Canada?
No, at the time of writing, Bybit does not have the necessary licenses to operate either in in Canada.
The Ontario Securities Commission (OSC) served a cease-and-desist notice to Bybit in June 2021, accusing the exchange of running an unlicensed cryptocurrency trading platform within the province.
Bybit subsequently consented to settle a penalty of $2.47 million and halt the acceptance of new accounts from residents of Ontario.
The exchange is presently in the process of obtaining registration with the OSC, however, the completion timeline of this process remains uncertain. As such, at the time of writing, Canada citizens are not able to use Bybit's services.
For Canadian residents, we recommend signing up to Uphold as that is regulated by FINTRAC in Canada and offers a wide range of over 300 cryptocurrencies.
Can I use Bybit in Malaysia?
At present, Bybit's services are available in Malaysia which means that Malaysians can signup, deposit and begin trading on Bybit!
Best vpn for Bybit?
It is no longer possible for users from restricted or banned countries to bypass the IP restrictions and signup in order to trade.
This is because Bybit now requires all of its users to pass KYC verification if they wish to access any services on the platform.
This means that VPN or no VPN, users from countries such as the United States, Canada or the United Kingdom won't be able to pass KYC.
This is because KYC requires users to have a valid government ID and Bybit will simply not allow passpord or IDs from those countries.
Bybit country of origin
Bybit is registered as Bybit Fintech Limited in the British Virgin Islands with headquarters in Singapore and offices in Hong Kong and Taiwain.
Bybit was founded in Chinese entrepreneur Ben Zhou in 2018.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
