Story
Bybit Announces 25,000 USDT Campaign to Drive Fiat Deposits and Payments
Summary
The cryptocurrency exchange is offering a 25,000 USDT prize pool in a limited-time promotion aimed at increasing user activity on its fiat on-ramps and Bybit Pay service.
Cryptocurrency exchange Bybit has launched a promotional campaign with a 25,000 USDT prize pool to incentivize fiat currency deposits and transactions using its Bybit Pay service. The event, titled "Fiat & Pay Summer Splash," is designed to attract new users and increase engagement with the platform's non-crypto financial products.
Campaign Mechanics
The promotion runs from July 2, 2026, through July 15, 2026, at 10 a.m. UTC, according to the company's announcement. To participate, users must register for the event and complete at least Level 1 Identity Verification. Rewards will be distributed through a lucky draw system, with entries earned by completing specific tasks.
Key requirements for earning entries include:
- New Users: A deposit of at least 100 USDT through an eligible fiat channel earns one entry. Spending at least 25 USDT via Bybit Pay also earns one entry.
- All Users: Deposits of at least 1,000 USDT or spending of at least 50 USDT via Bybit Pay can earn additional entries, with a cap of five entries per category.
Eligible deposit methods for the campaign are P2P Trading, Fiat Deposit, and One-Click Buy. The company noted that rewards are limited and will be allocated on a first-come, first-served basis.
Eligibility and Restrictions
AdParticipation is restricted based on geography and verification status. The promotion is not available to users residing in the European Economic Area (EEA).
Additionally, the announcement specified that users from several jurisdictions are not eligible to receive rewards, including Kenya, Nigeria, South Africa, Indonesia, South Korea, Mexico, the Chinese mainland, the Philippines, Thailand, and Vietnam, among others. Rewards will be sent to participants' Rewards Hub within 14 working days after the event concludes and must be claimed manually.
Market Context
Promotional campaigns like this are a common strategy for cryptocurrency exchanges to stimulate platform activity and attract new capital. By focusing on fiat on-ramps and payment services, Bybit aims to deepen its integration with traditional financial systems and boost the utility of its platform beyond crypto-to-crypto trading.
For investors and platform users, such events can offer small bonuses, but they are primarily marketing initiatives designed to increase transaction volume and user acquisition in a highly competitive market. Bybit, which states it is the world's second-largest crypto exchange by trading volume, is actively competing to expand its user base and the adoption of its broader financial service offerings.