Is Bybit allowed in Australia?

Yes, Bybit is allowed in Australia. The platform operates in compliance with the regulations set out by the Australian Securities and Investments Commission (ASIC), enabling Australian residents to utilise Bybit for trading a wide array of cryptocurrency derivatives. All of the platforms features arfe accessible to Aussie investors, including spot, futures and options trading, crypto staking, lending and borrowing services, the NFT marketplace and the crypto card.

How do I open a Bybit account?

Setting up a Bybit account in Australia is quick, easy, and only takes a few moments to complete and verify. Here are the straightforward steps involved: 

  1. Visit the Bybit website: Go to the official Bybit website and select the “Register” or "Sign Up" button. 
  2. Fill out the registration form: Enter the required information, including your full name, email address, and phone number, and establish a username and password. 
  3. Confirm your identity: To comply with ASIC regulations, you will be required to confirm your identity by providing a digital copy of a government-issued ID, such as a passport or driver’s license. 
  4. Fund your account: Once your account is verified, you can deposit cryptocurrencies or Australian dollars using supported methods. 
  5. Start trading: With your account funded, you are ready to trade a variety of cryptocurrency on Bybit.
How do I open a Bybit account?

Is Bybit free?

Creating a Bybit account is free, and there's no charge for registering. However, Bybit generates revenue through various fees, including maker and taker fees, funding fees, and withdrawal fees. It's crucial to examine Bybit's fee structure closely to understand the costs linked with trading on the platform.

Supported AUD Payment Methods

Bybit enables several methods for Australian users to deposit AUD. Refer to the below list for a quick overview of the supported payment methods for Australian dollars:

  • POLi
  • PayID
  • Bank Transfer
  • Credit or Debit Card
  • Maestro
  • Google Pay
  • PayPal
  • Wise

Conclusion

To sum up, Bybit is a credible and regulated trading platform accessible to residents in Australia. Account creation is a simple process, and users have a variety of options to deposit cryptocurrencies. While registration is free, it's vital to be aware of the fees associated with trading and withdrawing funds. Bybit offers an assortment of assets and tools to assist you in navigating the cryptocurrency markets.