Summary: Bybit, a cryptocurrency trading platform, restricts access from 12 countries such as the United States, mainland China, Singapore, certain Canadian provinces, and several politically sensitive or sanctioned areas due to regulatory constraints. However, it supports over 180 countries globally where cryptocurrency trading is not prohibited.
What Countries Does Bybit Restrict?
Bybit restricts user access from 12 specific jurisdictions due to local regulatory constraints from financial authorities. These include the United States, mainland China, Singapore, and certain provinces in Canada - specifically Quebec and Ontario.
Pursuant to Section 12.3 of their Service Agreement, users from several politically sensitive areas and countries under international sanctions are also restricted. These consist of North Korea, Cuba, Iran, and Uzbekistan, as well as the Crimea, Donetsk, and Luhansk regions. Furthermore, Syria is among the excluded jurisdictions.
What Countries Does Bybit Support?
Bybit caters to customers from more than 180 countries globally. This service extends to nations like the United Kingdom, numerous European Union countries, Australia, and many more, where cryptocurrency trading aligns with the local law and is not prohibited.
Does Bybit Require KYC?
While Bybit initially did not mandate Know Your Customer (KYC) procedures, this policy changed starting from May 8, 2023. The implementation of KYC was a strategic move by Bybit to aid in obtaining licenses in jurisdictions such as the United Arab Emirates and Singapore. This compliance measure not only improves their regulatory standing but also fosters enhanced security and accountability within their trading platform.
Can I Use Bybit in the US?
Officially, Bybit restricts access to investors and citizens in the United States due to regulatory constraints. However, it is noteworthy that US-based individuals can potentially bypass these restrictions and onboard with the platform through the use of a Virtual Private Network (VPN) service. This method, though technically possible, may not be in line with Bybit's terms of service or local regulations, and it is always recommended to adhere to local laws and guidelines when considering such actions.
In conclusion, Bybit restricts access from several jurisdictions, including the United States, mainland China, Singapore, certain Canadian provinces, and several politically sensitive or sanctioned countries. However, it supports customers from over 180 countries, predominantly where cryptocurrency trading is legal.
Bybit also introduced a KYC policy in May 2023 to improve regulatory standing and security within its platform. While using VPNs may allow US-based individuals to bypass access restrictions, it's crucial to respect Bybit's terms of service and local laws. For more information on their platform, check out or Bybit Review.