Bybit is one of the top cryptocurrency exchanges in the world. This exchange has users in more than 130 countries around the world and has been well received by many users. However, please note that there are countries where registration is not allowed on this exchange.
Countries where Bybit cannot be used
In fact, there are countries where Bybit cannot be used. The following countries cannot be registered. In the unlikely event that it is discovered that you are a resident of the relevant country, your account will be frozen or suspended.
- America
- Quebec, Canada
- Singapore
- Seychelles
- Hong Kong
- Bermuda
- Cuba
- Crimea, Sevastopol
- Iran
- Syria
- north korea
- Sudan
The above countries are not limited to virtual currency exchanges, but are countries and regions where foreign exchange transactions are restricted and prohibited. Access from these countries is restricted by Bybit.
Reasons due to national or local laws
In the above countries, there are restrictions on the use of financial products due to regulations. This is not only about virtual currency, but the same can be said about exchanges and stocks.
For America
In the United States, the Dodd-Frank Act was enacted during Obama’s presidency. This law restricts US residents from opening accounts and trading at Forex companies and virtual currency exchanges outside the US. As a result, Americans can only use US domestic exchanges and Forex companies.
for Europe
In 2018, the European Securities and Markets Authority (ESMA) introduced leverage regulations in Europe to protect individual investors. This gives us a maximum leverage of 30x against European countries. As a result, many Forex companies have been affected, prohibiting registration of Europeans and establishing separate companies.
Watch out for legal changes
As mentioned above, Bybit may become unusable in the future due to the revision of laws or the enactment of new laws regarding financial products depending on the country or region. Therefore, it is better to listen to political news etc. one by one.
If you cannot register
If you want to use Bybit but still want to do activities, you have no choice but to move to a country where Bybit is available. In countries where registration is not possible, access is restricted, making it difficult to operate. Therefore, the user has to compromise. Of course, there is a reason for restricting access, so there is no choice but to accept it.
other exchanges
If you can’t use Bybit, there’s nothing you can do about it, so you’ll probably have to use another cryptocurrency exchange. Although Bybit’s popularity ranks among the highest in the world, there are many other popular exchanges such as KuCoin and Gate.io, so we recommend that you also consider them. However, please note that there are cases where other exchanges have registration restrictions.
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