Cryptocurrency exchange Bybit has launched a new rewards program for its Bybit Card, aimed at onboarding holders of other crypto cards.

The reward program offers the first 10,000 users up to €25 in card bonuses for crypto card holders who make the switch to Bybit Card.

Upon applying for a Bybit Card through the landing page, users will receive €10 for a successful application, with a further €5 unlocked after the first successful transaction. Depositing at least €100 for the first time on the Bybit exchange unlocks an additional €10.

Bybit Card also offers a referral program, with referrers receiving a 20 USDT airdrop for each referral after their first transaction, while referees get 10 USDT after their first transaction. Referring new users unlocks VIP tier benefits, too, with VIP1 card benefits unlocked after five referrals, VIP2 after 20, and VIP3 after 50.

VIP card benefits unlock escalating tiers of reward points and a higher reward points cap, with VIP1 receiving a 5x multiplier, VIP2 10x and VIP3 20x, all the way up to the top-tier VIP Supreme level, which offers a 50x multiplier and 300,000 monthly rewards points cap.

VIP users also enjoy access to rebates through the Trading Pack and Social Media Pack. The Trading Pack offers rebates on subscriptions to professional trading tools including 3Commas and TradingView, while the Social Media Pack offers rebates on subscriptions to Telegram Premium and X Blue.

Trading pack rebates also scale with VIP membership tiers, from €15/7,500 points at VIP2 and 3 levels to €30/15,000 points at VIP 4 and €60/30,000 points at VIP 5 and above.

What is Bybit Card?

Bybit Card is a crypto debit card, enabling users to spend funds directly from their Bybit account in any locations where Mastercard Debit is accepted, paying in EUR. Supported cryptocurrencies include Bitcoin, Ethereum, XRP and the USDT and USDC stablecoins.

The card offers benefits including no annual, inactivity or card cancellation fees, ATM withdrawals up to €2,000 and a maximum daily spend of up to €5,000.

A flexible Auto-Savings Function available to card holders enables users to earn interest on assets that are sitting idle, with up to 8% APY, while still enabling them to spend the assets straight away through Bybit Card. Combining daily yield earnings with the ability to immediately unstake and spend at any time, the feature offers the benefits of crypto staking with the flexibility of immediate access to funds.

The card also offers low fees, with a crypto conversion fee of 0.9% on top of Bybit’s one-click sell exchange rate and a foreign exchange fee of 0.5% on top of Mastercard’s Foreign Exchange Rate.

Bybit Card also features a wide-ranging rewards program, with reward points earnings scaling as the user rises through the card’s VIP tiers.

Rewards available through the program include trading boosters such as bonuses, coupons, fee discounts, NFTs and airdrops, as well as gift cards for brands such as Amazon, Ikea and Spotify, and digital and physical merchandise including exclusive Bybit swag.

Bybit Card is available to Bybit users in the EEA region.

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• Source: https://decrypt.co/203973/bybit-woos-holders-of-rival-crypto-cards-with-rewards-program