What is Bybit exchange?
Bybit is a cryptocurrency derivatives exchange aiming to revolutionize today’s cryptocurrency market by combining the best of cryptocurrencies and traditional finance to bring about the industry’s safest, most reliable, fairest, and most user-friendly exchange to date.
Here is a full list of Bybit Banned Countries
According to Bybit’s terms of service document, the following counties crypto users are banned from opening or trading on Bybit’s crypto exchange.
United States of America
China (Mainland, Hong Kong, Macau & Taiwan)
That if you are located in or a resident of the United States of America or any other jurisdiction where the Services offered by Bybit are restricted, you also understand and acknowledge that you are prohibited from holding positions or entering into contracts at Bybit.
You understand and acknowledge that if it is determined that any Bybit trading participant has given false representations as to their location or place of residence, Bybit reserves the right to close any of their accounts immediately and to liquidate any open positions.
What happens if a Banned Country User Trades on Bybit’s Crypto Exchange?
As listed above, Bybit does not allow US Citizens and the above countries to trade on its platform. For the US, it is all about regulatory reasons. Just imagine the crypto regulation tussle in New York for instance.
If a Banned country user tries to force itself to trade on Bybit, one thing to note is that Bybit enforces a strict rule by analyzing the IP of the computer a user makes use of to access the platform.
Therefore, if the exchange realizes that a user that signed-up is actually from any of the banned Bybit’s countries then all trades will be automatically liquidated at market price and the account is frozen.
Should you use Bybit?
As a great centralized cryptocurrency exchange located in British Virgin Islands, Bybit currently has a 24-hour trading volume of $1,280,465,613.
Does Bybit Require KYC?
No. You don’t’ need to stress yourself over it.
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The Top features of Bybit exchange?
The following are some of the things that has made Bybit special in its own way.
– Perpetual Contracts
– The Dual Price Mechanism
– Bybit’s Mark to Market
– 100x Leverage
– The Contract Loss Mechanism’,
What are Bybit’s Alternatives for her banned countries?
While Bybit is a top-notch crypto trading exchange, unfortunately, if your country is banned on the platform you can use other best places to trade cryptocurrencies. These are the best place for beginners.