Key Points
- Bybit has introduced a 2% cashback offer for Bybit Card users on all purchases made via fiat or crypto.
- The cashback is paid directly to the users’ accounts in USDT.
Bybit’s Cashback Initiative
Bybit, a major cryptocurrency exchange, has initiated a cashback campaign for its card users. This offer applies to all purchases made using fiat or crypto, with 2% of the purchase amount being returned to the users’ accounts in USDT (Tether).
The cashback offer is Bybit’s method of promoting the integration of digital assets into daily user transactions. Joan Han, Bybit’s Sales and Marketing Director, has expressed the company’s commitment to simplifying cryptocurrency access and bridging the gap between traditional finance and the digital economy.
Automated Cashback and Card Availability
Users have the option to activate an Auto Cashback function. This feature automatically converts all cashback points earned into USDT, allowing cardholders to earn without any additional submissions or applications. Cashback points are issued within a few days of each transaction, and each user’s balance can be found in Bybit’s Reward Market under “Earned”.
The Bybit Card was initially launched in March as a virtual card in select European countries. It later introduced a physical plastic card in April, supporting a number of cryptocurrencies, including Bitcoin (BTC), Ether (ETH), XRP, USD Coin (USDC), and USDT. The Bybit Card is available to residents of Australia and the European Economic Area (EEA), excluding Romania, Liechtenstein, Ireland, Iceland, and Croatia. The physical card is priced at 5 EUR/GBP/USDT, while the virtual card is free.
Bybit is among the few cryptocurrency firms that have launched crypto debit cards. Crypto.com started shipping Visa cards to Asia-Pacific (APAC) customers in October 2018. Similarly, Blockchain.com launched a card in 2022 in partnership with Visa, akin to Coinbase’s crypto cards, which are currently only available to US customers.
Google Pay Integration and Investment Tools
Recently, Bybit announced the integration of Google Pay to facilitate simple crypto purchases across 35 currencies. Prior to this, purchases of digital assets on Bybit required third-party payment processors, bank transfers, or other lengthy processes. With Google Pay integration, users can purchase crypto in one click using payment information stored in Google wallets. The exchange assures that the integration is secure and leverages Google’s verification and protection protocols.
Bybit is the world’s third-largest exchange by trading volume as per CoinMarketCap data, with over $4.2 billion traded in the past 24 hours. In a bid to encourage cryptocurrency usage and adoption, Bybit recently launched a free Crypto Investment Analysis Toolkit. This toolkit is designed to assist investors with everything they need to properly evaluate crypto projects for better-informed decision-making. It assesses projects based on metrics beyond price analysis, using insights from data points, economic factors, and evaluations from internal experts.
