For the Dutch, the end of Bybit derivatives is approaching, but there is no reason to worry. You can still take advantage of all spot products, including margin spot products. However, new regulations in the crypto industry are bringing some changes.
It is essential to understand that it is not possible to open new positions after March 5, and existing positions must be closed by March 26. Unlike Bitget, you do not have to withdraw your funds immediately.
So it is good to know that margin spot trading is still available in the Netherlands, allowing you to execute short and long trades up to 10x!
BYBIT Promotion still applies:*
- Deposit $100 and get $20 bonus
- Deposit $300and get $40 bonus
- Promotion period: February 1 - March 30
- Register at: https://bit.ly/ByBitNL
For CryptoTrader users (like Satoshi Trading Bot, for example) the interesting thing is the low trading fees on transactions. Especially if you make a lot of trades with a CryptoTrader. This makes a significant difference in revenues.
*Action is for new users!
Table of contents
Funds can remain in place
Note: You do not have to withdraw money from BYBIT or anything like that this can just stay in your account.
BYBIT communications
Communicated Feb. 15.
Alternative to leverage trading
Bybit is going to stop offering leverage trading products in the Netherlands from the end of March!
Still leverage trading and withdraw up to 30 BTC per day without KYC? This is possible at: MEXC.
Alternative to crypto debit card
We are working closely with an incredibly good new project who are coming up with their own Crypto payment card with easy KYC. Pre order the card here already and soon you will see a new interview on Crypto-guide with the founder. The virtual card will be released in early April so keep an eye on us.
Pre-order with code CryptoGuide and receive $150 cashback on your card! You have to enter the code yourself on the website when ordering the card. Do it quickly before they run out!
Conclusion: ByBIT will stay in the Netherlands!
Absolutely, thanks to the partnership with SATOS, Bybit will remain active in the Netherlands. The only difference is that it will no longer be possible to trade with leverage products on the Bybit platform. We will update this page regularly with any changes.
Looking for an all-Dutch alternative? Then check out Finst, because next to BYBIT this is a tremendously good exchange with lots of options and low fees.
Email BYBIT to users
Translation of email recently sent by BYBIT to users:
"Dear merchant,
In June 2023, Bybit entered into a strategic alliance with SATOS, a leading crypto service provider based in the Netherlands. This partnership aims to offer a diverse range of services to Dutch users and ensure smooth access to fiat-to-crypto, spot-driven products and innovative crypto services.
As part of our ongoing commitment to meet regulatory requirements while ensuring the delivery of the highest quality services to our Dutch users, we are writing to inform you of upcoming changes to our product and service offerings in the Netherlands. These changes, first communicated in June 2023, include the suspension of specific products and services to meet regulatory requirements.
This is a reminder to review your positions and take the necessary actions as soon as possible to avoid potential losses due to the upcoming product outage.
What can you expect on the upcoming important dates?
As of March 26, 2024, 10AM UTC:
- All remaining open positions in the affected products and services listed below will be closed.
- You are strongly advised to manage and close your open positions by March 26, 2024, 10AM UTC.
- Funds will be returned to your wallet and automatically transferred to the Funding Account managed by SATOS B.V.
For users using the Bybit Web3 service, please note that the Bybit Cloud Wallet (formerly Bybit Wallet) will not be available to Dutch users after March 26, 2024, 10AM UTC.
Users are encouraged to manage assets in their Cloud Wallet using one of the two options below:
- Transfer them to the Bybit Funding Account. Click here for a tutorial.
- Transfer them to the Bybit Keyless Wallet (available only on the Bybit App), Seed Phrase Wallet (available only on the Bybit App), or another third-party wallet of your choice. Click here for a tutorial.
Any remaining assets in the Cloud Wallet after March 26, 2024 will only be available for withdrawal as a form of contractual claim against Bybit."