Bybit Announces 25,000 USDT Campaign to Boost Fiat Deposits and Payments

Bybit, a major global cryptocurrency exchange by trading volume, has launched a promotional event to incentivize the use of its fiat currency and payment services. The company announced a campaign with a prize pool of 25,000 USDT, which will be distributed to eligible users who make qualifying deposits and transactions.

Campaign Mechanics

The "Fiat & Pay Summer Splash" campaign, which runs until July 15, 2026, is structured around a lucky draw system. According to Bybit's announcement, participants can earn entries by completing specific tasks after registering for the event and completing identity verification.

Key requirements to earn entries include:

• New User Deposit: One entry for a first-time deposit of at least 100 USDT through eligible fiat channels.
• All User Deposits: Additional entries for deposits of at least 1,000 USDT, with a maximum of five entries available per user.
• Bybit Pay Spending: Users can also earn entries by using Bybit Pay, with one entry for new users spending at least 25 USDT and additional entries for spending 50 USDT, up to a maximum of five.

Eligible deposit methods for the promotion include P2P Trading, Fiat Deposit, and One-Click Buy. The exchange stated that rewards are limited and will be distributed on a first-come, first-served basis.

Eligibility and Distribution

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Participation is open to users who have completed at least Level 1 Individual or Business Identity Verification. However, Bybit has specified significant geographical restrictions. The promotion is not available to users in the European Economic Area or in several other countries, including Kenya, Nigeria, South Africa, Indonesia, Mexico, and the Philippines, among others.

Bybit confirmed that any rewards won will be sent to participants' Rewards Hub within 14 working days after the campaign concludes. Users will then need to manually claim their rewards from the hub.

Market Context

Promotional campaigns like this are a common strategy among cryptocurrency exchanges to drive user acquisition and increase platform liquidity. By incentivizing fiat deposits, Bybit aims to strengthen its on-ramps—the channels through which users convert traditional currency into digital assets.

Furthermore, by including its Bybit Pay service in the promotion, the exchange is encouraging the adoption of its broader financial ecosystem beyond simple trading. This competitive tactic is designed to attract and retain active users by integrating crypto services with everyday payment functionalities.