We present results from two-dimensional numerical simulations based on Immersed Boundary Method (IBM) of a cylinder in uniform fluid flow attached to bistable springs undergoing Vortex-Induced Vibrations (VIV). The elastic spring potential for the bistable springs, consisting of two potential wells, is completely defined by the spacing between the potential minima and the depth of the potential wells. We perform simulations of VIV with linear spring, as well as bistable springs with two different inter-well separations, over a wide range of reduced velocity. As expected, large oscillation amplitudes correspond to lock-in of the lift force with the natural frequency of the spring-mass system. The range of reduced velocity over which lock-in occurs is significantly higher for VIV with bistable springs compared to VIV with linear springs, although the maximum possible amplitude appears to be independent of the spring type. For VIV with bistable springs, the cylinder undergoes double-well oscillations in the lock-in regime. Range of reduced velocity over which lock-in occurs increases when the inter-well distance is reduced. The vortex shedding patterns and amplitude trends look similar at the same equivalent reduced velocity for the different springs. The results here are consistent with our prior theory, in which we propose a new "Equilibrium-Constraint (EC)" based on average kinetic energy budget of the structure. For a given spring potential, the intersection of natural frequency curves with the EC curve yields the possible range of reduced velocities over which lock-in should occur. Our numerical simulations show a collapse of the amplitude-versus-structure frequency data for all the simulations onto roughly the same curve, thus supporting the existence of the EC, and providing an explanation for the trends in the VIV oscillations. The present study provides fundamental insights into VIV characteristics of bistable springs, which may be useful for designing broadband energy harvesters.