Trading With Bybit In Australia | Must Know Info! 🇦🇺
October 30, 2023
2 min to read
Introduction: Bybit has taken the world by storm by becoming one of the fastest-growing cryptocurrency exchanges. Bybit is one of the leading futures exchanges offering up to 100X leverage and tight spreads. In this breakdown, we cover the key questions that Australians have in regards to Bybit's availability on the Australian market!
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Does Bybit work in Australia?
Bybit is a rapidly growing crypto derivatives exchange that was established in Singapore in 2018 by Ben Zhou.
The platform specializes in sophisticated trading options, providing perpetual contracts, futures, and inverse contracts with up to 100x leverage for various cryptocurrencies.
The platform has swiftly garnered a user base exceeding 10 million, predominantly in Europe and Asia. The platform supports trading for a broad selection of 350 cryptocurrencies and is available on Android and IOS where it has over 5 million downloads.
The exchange is registered in the British Virgin Islands as Bybit Fintech Limited and offers its services to more than 200 countries. This also include Australia as Bybit's services are fully available to Australians without any restrictions.
Is Bybit legal in Australia?
The Australian Securities and Investments Commission (ASIC) has expressed concerns about unregulated derivative platforms.
At the time of writing, Bybit is not licensed to offer crypto derivative products in Australia.
Bybit is however legal to use for Australians and there are no limitations or restrictions in place to signup and begin trading on the exchange.
Can you deposit AUD into Bybit?
At the time of writing, AUD is not one of the supported fiat currencies that can be deposited. This will likely change in the near future however as Bybit is continuously adding support for more fiat currencies.
Crypto leverage trading Australia with Bybit
Yes, Australian have access to all the trading features and leverage available on Bybit.
This means access to crypto products such as perps, futures, margin, options and more with up to 100X leverage.
Trade crypto futures in Australia
Aussies who wish to trade futures products can do so by signing up to Bybit exchange.
The exchange offers a wide range of USDT/USDC perpetuals, inverse perpetuals and futures and USDC options.
Can you use Bybit in Australia?
Yes, Australians have full access to the services offered by Bybit and can buy, sell and trade cryptocurrencies in a legal and compliant way.
Trade crypto futures in Australia
For new users who want to begin investing and or trading cryptocurrencies in Australia, we recommend signing up and using Bybit.
This is a beginner friendly exchange that offers a wide range of cryptocurrencies and crypto trading services such as spot, futures, perps and much more.
Cheapest crypto exchange Australia
For Australian users that want to buy, sell and trade cryptocurrencies with low fees, Bybit offers one of the best options on the market.
Bybit's spot trading fees begin at only 0.1% and can be further reduced based on trading volumes. In terms of futures fees, those are also very competitive for Australian users as they begin at a very low maker rate of 0.01% and taker rate of 0.06%.
How to trade crypto in Australia?
For Australians who want to trade cryptocurrencies, we recommend beginners to first signup to beginner-friendly platforms like Uphold.
Uphold is super easy to use, it's safe and regulated and users can easily invest in over 300 cryptocurrencies.
For more experienced users that want more advanced trading products, Bybit is however a better fit.