By Michael Scott
Cryptocurrency exchange ByBit has introduced a new rewards system for its Bybit card that seeks to onboard other crypto card holders. The reward program gives €25 in card bonuses to the first 10000 crypto card owners who switch to Bybit cards.
After using the landing page to apply for a card, users will get €10 for a fruitful application and an additional €5 unlocked following the initial productive transaction. By depositing at least €100 for the first time on the Bybit exchange, an extra €10 will be earned.
Crypto Exchange Bybit Introduces New Reward Program
Bybit also provides a referral program where referrers are awarded 20 USDT airdrop for every invite. On the other hand, referees receive 10 USDT following their initial transactions.
New users’ referral unseals VIP level benefits. For example, VIP1 card benefits are unsealed following five referrals, VIP 2 are unblocked after 20 referrals, while VIP3’s unlocking happens after 50 referrals.
VIP card benefits unseal escalating reward points levels and a greater reward points cap limit. In this case, VIP1, VIP2, and VIP receive 5x, 10x, and 20x multipliers respectively. The top-tier Supreme level provides a 50x multiplier and a monthly rewards points limit of 30000.
Further, VIP users can use the Social Media Pack and Trading Pack to enjoy refund access. The Social Media Park provides refunds on subscriptions to X Blue and Telegram Premium. On the other hand, Trading Park reimburses subscriptions to professional trading tools such as TradingView and 3Commas.
Trading pack refunds increase with the levels of VIP membership. In this case, VIP2 and VIP3 get €15/7500 points, while VIP4 get €30/15000 points. For VIP5 and above, the rebate is €60/30000.
Features of a Bybit Card
Bybit refers to a crypto debit card that enables users to use funds directly from their accounts in all places that accept Mastercard Debit, paying in Euros. Examples of supported cryptocurrencies are USDC and USDT stablecoins, XRP, Bitcoin, and Ethereum.
Further, the card’s benefits include inactivity, no yearly or card cancelation charges, a €5000 maximum everyday spend, and ATM withdrawals of up to €2000.
Cardholders can also enjoy a flexible Auto-Savings Function that enables them to acquire interest on idle assets with an APY of up to 8%. At the same time, they can still spend the assets via the Bybit Card.
A combination of everyday yield earnings and the capability to instantly unstake and spend at any instance enables the feature to provide crypto-staking benefits with the flexibility of instant access to funds.
Bybit Seek to Gain Competitive Advantage
The Bybit card also provides reduced charges, a 0.9% crypto conversion fee, and a single-click sell exchange rate. There is a 0.5% foreign exchange fee in addition to Mastercard’s Foreign Exchange Rate.
Further, Bybit comprises a vast-ranging rewards program where the earning of reward points increases with a user’s ascent via the different levels of VIP. Examples of rewards that one can access via the program entail trading boosters such as nonfungible tokens (NFTs), bonuses, airdrops, fee discounts, and coupons.
Other rewards include physical and digital merchandise such as exclusive Bybit swag and gift cards for brands such as Ikea, Spotify, and Amazon. Bybit users in the European Economic Area (EEA) can access the Bybit Card.