6 months ago
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Bybit has announced a 2% cashback in USDT for all users, who spend crypto or fiat using the exchange’s Bybit card.
Major cryptocurrency exchange Bybit has launched a cashback offer for users of its Bybit Card. All users who make purchases via fiat or crypto will receive 2% of their purchase, paid directly to the users’ accounts in USDT.
Bybit Cashback to Encourage Crypto Transactions
According to an official press release, the cashback offer is the exchange’s way of contributing to integrating digital assets in daily user transactions. Bybit Sales and Marketing Director Joan Han stated:
“Bybit is dedicated to pioneering the cryptocurrency landscape by partnering with leading projects that enhance the overall market and deliver significant benefits to our users. Through the Bybit Card, we are committed to simplifying cryptocurrency access, effectively narrowing the divide between conventional finance and the digital economy.”
The release also states that users can activate an Auto Cashback function that automatically converts all cashback points earned into USDT. This allows cardholders to earn effortlessly without any extra submissions or applications. ByBit will issue cashback points within a few days of each transaction. Each user’s balance will be available in Bybit’s Reward Market under “Earned”.
Bybit initially launched the Bybit Card last March, available as a virtual card in select European countries. The exchange later launched a physical plastic card in April, with support for a few cryptocurrencies, including Bitcoin (BTC), Ether (ETH), XRP, USD Coin (USDC), and USDT. According to ByBit’s website, the Bybit Card is available to residents of Australia, and the European Economic Area (EEA), except Romania, Liechtenstein, Ireland, Iceland, and Croatia. Bybit charges 5 EUR/GBP/USDT for the physical card, and zero fees for the virtual card.
Bybit is one of a few cryptocurrency companies that launched debit crypto cards. In October 2018, Crypto.com began shipping Visa cards to Asia-Pacific (APAC) customers. According to Crypto.com’s website, cards are available in Canada, Brazil, Australia, and several European countries. Crypto exchange Blockchain.com also launched a card in 2022 in partnership with Visa. Like Coinbase’s crypto cards, Blockchain.com crypto cards are currently only available to US customers.
Bybit Payments and Investment Tools
Last month, Bybit announced it has integrated Google Pay, to support simple crypto purchases across 35 currencies. Before now, users buying digital assets on Bybit required third-party payment processors, bank transfers, or other time-consuming processes. With the Google Pay integration, users can buy crypto in one click using payment information available in Google wallets. The exchange guarantees that the integration is secure and takes advantage of Google’s verification and protection protocols.
According to CoinMarketCap data, Bybit is the world’s third-largest exchange by trading volume, with more than $4.2 billion traded in the last 24 hours. As part of efforts to support cryptocurrency usage and adoption, Bybit recently launched a free Crypto Investment Analysis Toolkit. The aim is to help investors with all they need to properly appraise crypto projects for better-informed decision-making. The toolkit assesses projects based on metrics beyond price analysis. It uses insights from data points, economic factors, and assessments from internal experts.
