Where Can You Use ByBit? Supported and Restricted Countries Explained

Bybit is one of the leading cryptocurrency derivative exchanges, known for its ease of use, advanced trading features, and high liquidity. However, like many other cryptocurrency platforms, it operates under certain regulatory constraints and has restrictions in certain regions. In this article, we will cover everything you need to know about what countries can use Bybit, including details on its supported and restricted countries, licenses, KYC requirements, and a Bybit Card.

Bybit Supported Countries

Bybit has gained popularity all over the world and supports users from a huge number of countries. Some of the major countries where it is fully operational include:

• European Union Countries: With regulatory clarity in the EU, Bybit is accessible to users in most European nations, including Germany, France, Italy, Spain, and the Netherlands.
• Asia: Bybit is popular in many Asian countries, including Japan, South Korea, and Thailand. The platform has been particularly well-received in Southeast Asia, where crypto adoption is on the rise.
• Latin America: The growing interest in cryptocurrencies has made the platform popular in Latin American countries such as Argentina, Brazil, and Mexico.
• Africa: Although the regulatory framework is still under development, Bybit is available in several African countries including Nigeria, Kenya, and South Africa.

This wide availability has made Bybit a popular choice for crypto traders looking to access open-ended contracts, margin trading, and other advanced features in countries that can use Bybit.

What Countries Does Bybit Restrict?

In some regions, the use of Bybit is limited due to regulatory restrictions. Here are some of them:

• United States: Bybit is not available in the United States, a country known for strict regulation of cryptocurrency exchanges. The regulatory requirements of the U.S. market do not allow Bybit to serve U.S. citizens and residents.
• United Kingdom: Similarly, the UK’s Financial Conduct Authority (FCA) has restricted access to Bybit, especially for crypto derivatives trading. Bybit complies with these regulations by restricting access to UK users.
• Canada: Certain provinces in Canada, such as Ontario, have specific restrictions that prevent Bybit from operating there.
• Singapore: As a global financial center, Singapore has recently tightened its crypto regulations, resulting in Bybit restricting access for Singaporean users.
• China: The Chinese government has imposed a strict ban on cryptocurrency trading and other activities, and Bybit does not operate in mainland China.
• Other Restricted Areas: Bybit is also restricted in North Korea, Iran, Sudan, Syria, and several other jurisdictions due to sanctions and compliance issues.

These restrictions are consistent with Bybit’s commitment to comply with local and international regulatory standards. 

ByBit Licenses and Regulations

Bybit aligns its operations with global standards through a strong regulatory approach. Headquartered in Dubai, Bybit operates under the regulatory frameworks of the United Arab Emirates (UAE) and adheres to local laws in all restricted regions, prioritizing user safety and regulatory responsibility.

Although not yet licensed by major financial regulators like the FCA, Bybit holds licenses in various jurisdictions, ensuring compliance, reliability for its users, and availability in countries that can use Bybit. According to its official website, Bybit is regulated by several authorities, including the Virtual Assets Regulatory Authority in Dubai (with the licensing process ongoing), the Cyprus Securities and Exchange Commission, and the Astana Financial Services Authority in Kazakhstan.

KYC and Restricted Countries

KYC, or “Know Your Customer”, is a verification process required by financial institutions and exchanges to confirm the identity of users. KYC is a standard regulatory requirement aimed at preventing fraud, money laundering, and other financial crimes.

What Is KYC on Bybit?

By using documents such as government-issued IDs, passports, and proof of residence, KYC involves verifying one’s identity in countries that can use Bybit. This process is crucial for cryptocurrency platforms as it ensures that they know who is using their services, in compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. By requiring KYC, exchanges can help authorities track and combat illegal activity, increasing security for legitimate users as well.

In Bybit’s case, KYC helps the platform meet global regulatory standards and increases transparency. Here’s what KYC offers Bybit users:

1. KYC-verified users often enjoy higher withdrawal limits, allowing them to move larger amounts of crypto in and out of the platform.
2. Verified accounts reduce the risk of fraud or impersonation, adding an extra layer of protection for users’ funds.
3. Certain trading features and products are available only to KYC-verified users. Completing the KYC process can unlock these additional tools for a more comprehensive trading experience.
4. For Bybit, having KYC-compliant users improves the platform’s reputation as a safe and regulated environment for crypto trading, which benefits all users by attracting more legitimate and compliant traders.

Does Bybit Require KYC?

For a long time, Bybit has allowed users to trade without Know Your Customer (KYC) verification. However, in response to recent global regulatory changes, the company has implemented KYC policies.

• Basic Users: Users who trade casually or make small transactions can often operate without full KYC verification, although their withdrawal limits will be lower.
• High-Volume Users: For users who trade large amounts, Bybit requires KYC to be obtained. This includes higher withdrawal limits and access to premium trading features, as well as compliance with security and accountability rules.

Without KYC, you’re limited to crypto deposits and withdrawals with a cap of 20,000 USDT per day and 100,000 USDT per month. To unlock full services such as spot trading, margin trading, and higher withdrawal limits (4M USDT per day), you need to complete KYC level 1 or 2 verification.

Buybits’ flexible KYC requirements are suitable for both privacy-conscious users and those who require higher limits and advanced functionality in countries that can use Bybit. However, users from restricted regions such as the US and UK cannot access Bybit even if they complete the KYC process, due to legal restrictions in these countries.

Bybit Card and Available Countries

The Bybit card is an innovative feature that makes cryptocurrency simple and accessible for everyday use. It allows users to convert their digital assets directly into fiat currency, providing a convenient way to pay in countries that can use Bybit, wherever major networks like Visa or Mastercard are accepted.

Key Features of the Bybit Card

1. Instant Crypto-to-Fiat Conversion: The Bybit Card instantly converts cryptocurrencies like Bitcoin, Ethereum, and USDT into fiat currency for transactions, making it convenient for users to spend their crypto without prior conversions.
2. Global Acceptance: The Bybit Card works wherever Visa or Mastercard is accepted, allowing users to make payments at millions of merchants worldwide, from physical stores to online retailers.
3. Multiple Currencies: Bybit supports various fiat currencies on its card, allowing users to spend in different regions without dealing with complex exchanges.
4. Seamless Payments and Withdrawals: In addition to purchases, users can withdraw funds directly from Visa or Mastercard-enabled ATMs, which increases liquidity and simplifies access to crypto assets.
5. Enhanced Security: Bybit provides security features like two-factor authentication (2FA), PIN codes, and transaction alerts to help users monitor and safeguard their card usage.

Countries Where You Can Use Bybit Card

The Bybit Card is available to users in many countries where Bybit operates and has regulatory permission. Users in Europe, Asia, and some parts of Latin America and Africa can use the Bybit Card without issue. However, it is important to note that the Bybit Card may not be available in regions where crypto transactions or crypto-linked cards face regulatory limitations, such as the U.S. and the U.K.

• EEA & CH: Anyone with an identity document such as a national ID card, passport, residence permit (valid for at least 6 months), or driving license issued by one of the eligible EEA countries (excluding Croatia, Iceland, Ireland, Liechtenstein, France, and Romania) or Switzerland can apply for a Virtual Lite card.
• Australia: Both virtual and physical Bybit Cards are supported. With a Virtual Bybit Card, you can make online payments once you have applied successfully, while a physical Bybit Card allows you to make online payments as well as contactless payments in retail stores using POS terminals that support contactless payments. 
• AIFC (Kazakhstan): Supported fiat currency is USD. Supported cryptos include BTC, ETH, XRP, USDT, USDC, and TON. If you’re a resident of Kazakhstan you can apply for your Bybit Virtual Card.
• Brazil: If you’re a resident of Brazil you can apply for your Bybit Virtual Card.
• Argentina: If you are a resident of Argentina, you can apply for a Bybit virtual card. The supported fiat currencies are ARS, and the supported cryptocurrencies are BTC, ETH, XRP, USDT, USDC, and TON.

For those living in countries that can use Bybit cards, they offer a practical option to use crypto assets in the real world, bridging the gap between digital currency and everyday transactions.

Can I Use Bybit in the USA or the UK?

While Bybit is a popular cryptocurrency trading tool, it is unfortunately not available in the US and UK due to regulatory restrictions. In the US, cryptocurrency exchanges must meet strict requirements set by the SEC and CFTC, which include restrictions on derivatives trading and leverage. Bybit complies with these requirements by not serving US users.

Similarly, the UK has imposed significant restrictions on crypto derivatives, which has led Bybit to suspend operations in response to new Financial Conduct Authority (FCA) rules regarding the promotion of cryptocurrencies. This means that users in these countries cannot use Bybit, and attempting to access the platform via VPN or other means may result in account suspension.

Can I Use Bybit in Australia?

Yes, Bybit is available in Australia, where it has a large user base among crypto traders. The platform operates under Australian financial regulations, although the Australian government has recently been tightening controls on cryptocurrency exchanges. Bybit allows Australians to participate in a full range of features, including derivatives trading, spot trading, and access to Bybit Earn products. Australian users can also undergo KYC for advanced account features, which can provide higher withdrawal limits and access to the Bybit card, depending on local regulations.

Thanks to Australia’s proactive approach to cryptocurrency, Bybit’s presence in the country continues to grow. However, as the government works to implement new regulations for digital asset providers, Bybit and other exchanges may need to make adjustments to their services to ensure continued compliance.

Can I Use Bybit in Europe?

Yes, the platform is widely available in Europe, where crypto adoption and regulation have been developing steadily. European Union regulations allow cryptocurrency exchanges like Bybit to operate legally in most member countries, including Germany, France, Italy, and the Netherlands. 

Bybit’s European users benefit from a well-regulated environment that offers security and transparency, as well as access to its full range of trading and investment products. Additionally, the Bybit Card is available in several European countries that can use Bybit, allowing users to spend crypto in their everyday lives.

Bybit adheres to the European Union’s anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This means that users in Europe are encouraged to undergo Know Your Customer (KYC) verification to access higher withdrawal limits and advanced features. As the European Union introduces the Markets in Cryptoassets Regulation (MiCA) to help align cryptocurrency governance across member states, Bybit’s operations in Europe are expected to remain secure and compliant with the law.

Can I Use Bybit in Canada?

Bybit’s availability in Canada is limited due to provincial regulations, which are different across the country. While Bybit is accessible to Canadian users in most provinces, certain regions such as Ontario have stricter rules for crypto exchanges, resulting in restricted access for Bybit users. 

Canadian residents in other provinces can access the platform services, including derivatives trading and spot trading, but they should be mindful of the evolving regulatory environment and complete KYC (Know Your Customer) to unlock higher withdrawal limits and additional features in the country that can use Bybit. 

As Canada’s securities regulators continue to monitor and adapt crypto regulations, Bybit may adjust its services to align with new requirements, which could impact the accessibility of users in various provinces.

Can I Use Bybit in China?

No, it is not available in China. The Chinese government has imposed a strict ban on cryptocurrency trading and related activities, forcing Bybit to withdraw from the mainland Chinese market. Since 2021, China’s cryptocurrency policy has tightened, resulting in significant restrictions on both individual trading and cryptocurrency mining. As a result, the platform, like other major exchanges, is complying with these regulations by blocking access to the platform for Chinese residents and IP addresses.

Chinese residents who want to legally trade cryptocurrencies may need to consider offshore exchanges or regions with more lenient restrictions. However, unlike other countries that can use Bybit, it cannot legally operate in China. It’s important to note that even if users try to bypass the restrictions with a VPN, the platform has a policy prohibiting access to the platform from restricted regions, which could result in account suspension. For users in China, local regulations make the platform inaccessible and they are advised to comply with local laws.

What Countries Have Bybit Support?

The platform provides extensive customer support for users in countries that can use Bybit. This support includes live chat, email, and resources such as FAQs and tutorials. Key regions with full Bybit support include:

• Europe: Support is available in multiple languages to cater to users across the continent.
• Asia: Bybit’s team offers support in languages such as Japanese, Korean, and Mandarin to assist its Asian user base.
• Latin America and Africa: Bybit has expanded support to these emerging markets, and now its users have access to resources and assistance as needed.

For restricted countries, the platform may still offer limited customer support, primarily to resolve account issues or withdrawals.

Bottom Line

Undoubtedly, Bybit’s accessibility varies depending on each country’s regulatory environment, reflecting its focus on compliance and user security. While it offers a comprehensive platform for crypto traders from numerous countries that can use Bybit, there are restrictions for users in the US, UK, and other regions due to regulatory requirements. Eligible users can enjoy a high-level trading experience with this platform, including the Bybit Card for real-world crypto spending and a simple KYC process for improved security.

Whether you’re a beginner or advanced trader, Bybit’s suite of tools, support, and commitment to compliance makes it a great choice – if you’re in a country that can use Bybit. As regulations evolve, the crypto exchange will likely adapt and be licensed in restricted regions as well, potentially expanding its availability to more regions.