Bybit Gives Back Cash to Users with Cards

In an ongoing cashback campaign, the popular exchange Bybit gives back cash up to about 2% to its users who own a card.

Bybit, a prominent cryptocurrency exchange, has initiated a rebate promotion targeted at Bybit Card users. 2% of the value of every purchase made with fiat or cryptocurrency will be deposited directly into the USDT accounts of all users.

Cashback from Bybit to Promote Cryptocurrency Transactions

As stated in an official press release, the rebate offer is an effort by the exchange to facilitate the integration of digital assets into its users’ routine transactions. Joan Han, director of sales and marketing for Bybit, 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.”

Additionally, the release specifies that users can enable an Auto Cashback feature, which converts all earned cashback points into USDT automatically. This enables cardholders to earn money effortlessly without submitting additional applications or submissions. Each transaction will be redeemed for cashback points within a few days on ByBit. Each user’s balance will be displayed under “Earned” in Bybit’s Reward Market.

In March of last year, Bybit introduced the Bybit Card, which was initially accessible in select European countries as a virtual card. In April, the exchange introduced a tangible plastic card that incorporated support for the following cryptocurrencies: Bitcoin (BTC), Ether (ETH), XRP, USD Coin (USDC), and USDT. The Bybit Card is available to Australia and the European Economic Area (EEA) residents, excluding Croatia, Liechtenstein, Ireland, and Iceland, per the ByBit website. Bybit assesses a fee of 5 EUR/GBP/USDT for tangible cards but provides no charges for virtual cards.

Bybit is among a limited number of cryptocurrency firms that have introduced debit crypto cards. Crypto.com commenced shipping Visa cards to Asia-Pacific (APAC) clients in October 2018. According to the Crypto.com website, cards are available in Canada, Brazil, Australia, and several European countries. Additionally, Blockchain.com, a cryptocurrency exchange, introduced a card in partnership with Visa in 2022. Similar to Coinbase’s crypto cards, Blockchain.com’s crypto cards are currently exclusive to U.S. consumers.

Investment Tools and Bybit Payment Systems

Bybit announced last month that it had integrated Google Pay to facilitate straightforward cryptocurrency transactions in 35 currencies. Previously, purchasing digital assets on Bybit necessitated using bank transfers, third-party payment processors, or other time-consuming procedures. With the Google Pay integration, users can purchase cryptocurrencies with a single click using payment information stored in their Google Wallets. The exchange ensures the security of the integration by utilizing Google’s protection and verification protocols.

Based on trading volume data from CoinMarketCap, Bybit ranks as the third-largest exchange globally, having recorded transactions exceeding $4.2 billion over the past twenty-four hours. To promote the adoption and utilization of cryptocurrencies, Bybit has recently introduced a complimentary Crypto Investment Analysis Toolkit. The purpose is to provide investors with everything they require to assess cryptocurrency initiatives so they can make more informed decisions accurately. The toolkit evaluates initiatives using metrics that extend beyond mere price analysis. It incorporates evaluations from internal experts, economic variables, and data point insights.