Bybit Supported Countries
Bybit offers access to digital assets in Europe, Australia, and parts of Asia. However, it’s unavailable in the United States due to regulatory restrictions. Serving over 160 countries, the crypto trading platform is one of the most widely used exchanges worldwide.
- Bybit offers services and support in over 160 countries. However, Bybit’s services may vary due to regulatory constraints from these regions.
- Bybit has restricted its services in some countries, such as the United States, Mainland China, and Syria, for various reasons, including global sanctions and local regulatory constraints.
- Bybit is legitimately known as an entity named Bybit Fintech Limited in the British Virgin Islands (BVI). However, the firm currently remains unregulated in many countries globally.
- Bybit offers a staking program for all supported countries where traders can earn up to 12% annual percentage return.
TABLE OF CONTENTS
With its cutting-edge platform, Bybit offers access to over 300 assets, serving around 15 million users from many supported countries. While Bybit's global accessibility reflects its dedication to inclusivity, many traders are curious about the list of supported countries. In this article, we will explore the countries Bybit supports and those restricted by the popular crypto trading platform.
What Countries Is Bybit Available?
Bybit is a global (and former no KYC crypto exchange) that is now subject to regulatory restrictions that vary per country. The table below lists the major countries and regions where Bybit is available.
|Bybit Supported Country
|Licensed & Registered By
|AUD deposit is not supported
|Does not support local currency
|Swedish Financial Supervisory Authority (FSA)
|Futures trading is not supported, Binance P2P marketplace is unavailable
|Residents do not have the option of referral programs
|Bybit card is not available
|Residents do not have access to the Bybit card
|Only crypto conversion and Spot trading are available on the platform, doesn’t support Hong Kong dollar deposits
|United Arab Emirates
|Licensed by Dubai's Virtual Assets Regulatory Authority (VARA)
|No support for local currency
|Local currency is not supported
What Countries Does Bybit Restrict?
- United States: Bybit is restricted in the United States due to strict regulatory frameworks set by the Securities and Exchange Commission (SEC).
- Mainland China: Mainland China is part of Bybit-restricted countries. This is due to the blanket ban on cryptocurrencies.
- Singapore: ByBit is not accessible in Singapore due to regulatory pressure from the Monetary Authority of Singapore (MAS) toward the digital asset sector. There are only a handful of regulated crypto exchanges in Singapore to choose from.
- Canada: Bybit ceased accepting new account registrations from Canadian citizens and residents in response to recent regulatory changes in May 2023.
- North Korea, Cuba, and Iran: ByBit does not offer services to these nations due to global sanctions and regulatory constraints.
- Uzbekistan: Uzbekistan is one of the Bybit-restricted countries. The trading platform does not provide services for residents of this country due to international sanctions and regulatory constraints.
- Russian-Controlled Regions of Ukraine (currently including the Crimea, Donetsk, and Luhansk regions): Bybit is inaccessible to residents in some Russia-occupied regions of Ukraine. The action came after additional European sanctions were implemented in response to Russia's military buildup in Ukraine.
- Syria: Syria is one of the Bybit-restricted countries due to jurisdiction issues. Additionally, Bybit's restrictions extend to other jurisdictions where the platform may choose to terminate services at its sole discretion.
Which Countries Is Bybit Fully/Partially Regulated In?
Bybit is recognized as a legitimate entity in the British Virgin Islands (BVI). The platform holds the Minimum Viable Product (MVP) Preparatory License in the United Arab Emirates and is licensed to operate as a crypto trading platform and provide custody services in Cyprus based on our research. While Bybit is based in Singapore, complemented by Hong Kong and Taiwan offices, it's not regulated within the country for local citizens.
Where Is Bybit Headquartered?
In response to regulatory complexities, the crypto exchange has chosen to relocate its headquarters to Dubai, United Arab Emirates from Singapore. This also means Bybit currently operates without regulation in numerous countries. However, the platform boasts an impeccable security record, having never suffered a cyber attack, ensuring the safety of user funds even in the absence of comprehensive regulation.
Despite its unregulated status across jurisdictions, Bybit is a major force in the cryptocurrency space with native support in over 20 languages and facilitates transactions in over 70 fiat currencies.
Can I Change Countries on Bybit?
No, you can't your designated country of residence on Bybit once an account is created and verified. There is the option to use a Virtual Private Network (VPN) to change the IP address but this is against Bybit's Terms of Service. Officially, you are required to promptly inform the cryptocurrency trading company when you change locations to any of the excluded jurisdictions to prevent account suspension or termination of the account.
Which Countries Can You Margin Trade on Bybit?
Margin trading is available to traders from unrestricted countries. However, Hong Kong, Brazil, and the Netherlands are exempt from Margin trading as they can’t trade derivatives. To trade crypto with margin on Bybit, you will need at least a Level 1 verification status.
Which Countries Can You Stake and Earn Interest on Bybit?
Bybit Savings, formerly known as Bybit Staking, is available in most countries where Bybit is available. It offers the opportunity to generate passive income through a flexible investment plan. This plan allows you to earn returns on idle platform funds by placing them into a staking pool. The choice of withdrawing staked assets is adaptable and dependent on the selected staking duration – either flexible or fixed-term.
Frequently Asked Questions
What countries can't use Bybit?
Bybit restricts some countries due to regulatory constraints, international sanctions, and anti-money laundering regulations. Bybit’s restricted countries include the United States, Mainland China, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine, and Syria.
Can a US citizen use Bybit?
Bybit does not support the United States due to the strict regulations enforced by the Securities and Exchange Commission (SEC).
Does Bybit report to IRS?
No, Bybit does not report to the IRS because the exchange is not licensed to operate in the United States. However, users in countries where crypto tax reporting is required can connect to one of Bybit's tax partners through the Tax API to compile their tax information.
Can the IRS see my crypto?
The short answer is yes. Crypto transactions can be monitored by the government and other intelligence agencies. Every transaction is permanently recorded on a public ledger accessible to anyone. In addition, the exchanges are required by law to provide information on their customers to the Government if requested.
Bybit operates in over 160 countries but refrains from providing services in certain regions, like the US and Mainland China, due to local regulatory constraints and international sanctions. Whether it will expand into these regions remains uncertain, as it would require compliance with stringent regulatory requirements.