Question 1

What can I trade on Bybit?

Accepted Answer

You can long and short 11 crypto assets on Bybit, including BTC, BCH, ADA, ETH, LINK, DOT, EOS, LTC, UNI, XRP, and XTZ. You need BTC, ETH, EOS, or XRP to use as collateral when buying inverse perpetual contracts. But BTC is the underlying asset when buying inverse futures contracts. When it comes to USDT perpetual contracts, USDT serves as the margin when trading BTC, LINK, ADA, ETH, LTC, DOT, BCH, XTZ, and UNI.

Question 2

What are Bybit fees?

Accepted Answer

There are different Bybit fees you may encounter on the platform. They include funding fees, taker fees, asset exchange fees, asset recovery handling fees, withdrawal fees, and insurance fees.

Question 3

Is Bybit regulated?

Accepted Answer

Bybit isn’t regulated. Although it’s generally in regulatory limbo, the platform has a vast international user base. The company is registered in the British Virgin Islands, but its HQ is in Singapore. That’s why many of the traders that gravitate toward it are located in Asia.

Question 4

Can US citizens use Bybit?

Accepted Answer

No, Bybit currently restricts Americans from using its crypto derivatives trading platform. Bybit purposely bans certain users to avoid raising the ire of powerful regulators like the US Securities and Exchange Commission.Bybit doesn’t have a KYC (Know Your Customer or Know Your Client) policy, so it uses geo-restrictions to block its exchange from certain users. Since it doesn’t verify its traders’ identity, it relies on IP addresses to automatically block banned users. To learn more about how this emerging crypto platform works, read our full Bybit review.