Cryptocurrency Q&A
Can UK residents trade on Bybit?
Can UK residents trade on Bybit?
BlockchainWizardGuard
Fri Mar 29 2024
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5 answers
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I'm a UK resident, and I'm interested in trading cryptocurrencies. I've heard about Bybit, a popular crypto derivatives exchange, and I'm wondering if UK residents are allowed to trade on it. I've searched online, but the information is somewhat conflicting. Can you clarify if UK residents are eligible to trade on Bybit? If so, are there any specific regulations or restrictions that I should be aware of? I'd appreciate any information you can provide to help me understand the trading environment in the UK and on Bybit.
5 answers
Rosalia
Sun Mar 31 2024
One such exchange is Bybit. In March 2023, Bybit announced that it would discontinue its services to UK customers due to the FCA's ban on cryptocurrency derivatives. This means that UK residents are no longer permitted to open new accounts or perform trades on the Bybit exchange.
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HallyuHeroLegendaryStar
Sun Mar 31 2024
This decision has left UK cryptocurrency investors looking for alternative exchanges to trade on. One such exchange is BTCC, which is based in the UK. BTCC offers a range of cryptocurrency trading services, including spot trading and derivatives trading.
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MichaelSmith
Sun Mar 31 2024
Cryptocurrency trading has gained popularity in recent years, but its legality and regulation vary from country to country. In the United Kingdom, the Financial Conduct Authority (FCA) has taken a stance on this matter.
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Skywalker
Sun Mar 31 2024
BTCC has been able to comply with the FCA's regulations and continue to offer its services to UK customers. This has made BTCC a popular choice for UK investors looking to trade cryptocurrencies.
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CharmedWhisper
Sun Mar 31 2024
The FCA has banned the trading of cryptocurrency derivatives in the UK. This decision was made to protect investors and maintain financial stability. As a result, many cryptocurrency exchanges have had to comply with this ban.
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