Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

Bybit is a cryptocurrency trading platform serving over 160 countries globally, but it restricts services in the U.S., mainland China, Singapore, and other regions due to regulatory constraints and international sanctions. Bybit, originally based in Singapore, has relocated its headquarters to Dubai due to its more crypto-friendly regulations. Expansion into currently restricted areas like the U.S. will depend on its ability to comply with local regulatory requirements.

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating

Bybit Available Countries

Bybit is one of the largest global crypto trading platforms accessible in over 160 countries, with native support in over 20 languages and support for over 70 foreign currencies. The exchange is widely regarded for its fast and secure onboarding process, with account verifications available in every country within an hour of submission.

Bybit Restricted Countries

Although Bybit is one of the most widely used exchanges worldwide, it does face regulatory constraints in certain locations with political conflict. This leads to service restrictions in several countries, these include:

  • United States
  • Mainland China
  • Singapore
  • Quebec and Ontario in Canada
  • North Korea
  • Cuba
  • Iran
  • Uzbekistan
  • Certain areas in Ukraine

These restrictions exist due to variations in cryptocurrency regulations in different jurisdictions and the necessity to comply with international sanctions and anti-money laundering laws. Furthermore, Bybit does not offer services to individuals or entities on sanction lists such as the U.S. Treasury Department’s List of Specially Designated Nationals or Blocked Persons, the EU’s Consolidated Financial Sanctions List, and the UK Sanctions List.

Bybit Supported Countries

Does Bybit Require KYC?

Yes, Bybit mandates that all users complete identity verification of at least Level 1 for access to its products and services, emphasizing the importance of security and regulatory compliance. This requirement ensures a safer trading environment and aids in preventing illegal activities by verifying users' identities.

The platform offers enhanced withdrawal limits post-verification, with non-verified users capped at a daily limit of 20K USDT, while verified individuals enjoy significantly higher limits, up to 30M USDT for top-tier users. The verification process, aimed at bolstering security and service quality, typically concludes within 15 minutes, although it may extend up to 48 hours in complex cases.

Where is Bybit Located?

Bybit is now headquartered in Dubai after relocating from Singapore due to the regulatory hostility of the Monetary Authority of Singapore (MAS) against the digital asset sector. Bybit moved its HQ to the United Arab Emirates after the country began implementing a progressive regulatory regime that was incentivizing large exchanges like Bybit and Binance to move to the nation.

Closing Thoughts

To wrap up, Bybit, a globally recognized cryptocurrency trading platform, operates in over 160 countries but excludes certain regions due to regulatory constraints and international sanction requirements. The exchange's move to Dubai reflects the platform's strategy to align with progressive regulatory environments. Future expansion to restricted jurisdictions like the U.S. remains uncertain and would require Bybit to satisfy specific regulatory conditions.

Author

Elena Boyaci is the proactive editor-in-chief of StacksOnChain, bringing her extensive journalism experience to the forefront. She spearheads a committed team, focusing on providing prompt and comprehensible updates on crypto and finance.

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