Story
Bybit Announces 25,000 USDT Prize Pool for Fiat Deposit Campaign
Summary
Cryptocurrency exchange Bybit has launched a promotional event with a 25,000 USDT prize pool, aimed at increasing user engagement with its fiat deposit and payment services until mid-July.
Cryptocurrency exchange Bybit has launched a promotional campaign with a 25,000 USDT prize pool to incentivize fiat currency deposits and transactions on its platform. According to the company's announcement, the event is designed to increase user activity in its fiat-to-crypto services and its Bybit Pay feature.
Campaign Mechanics
The "Fiat & Pay Summer Splash" campaign is active now and will conclude on July 15, 2026, at 10 a.m. UTC. Bybit stated that rewards will be distributed on a first-come, first-served basis through a lucky draw system. Participants earn entries by completing specific deposit and spending tasks.
Key qualifying actions include:
- New Users: Receive one lucky draw entry for depositing at least 100 USDT through eligible fiat channels or for spending a minimum of 25 USDT using Bybit Pay.
- All Users: Can earn up to five additional entries for deposits of at least 1,000 USDT and another five entries for spending 50 USDT or more via Bybit Pay.
Eligible fiat deposit methods for the campaign are P2P Trading, Fiat Deposit, and One-Click Buy. Rewards will be sent to participants' Rewards Hub within 14 working days after the event ends.
Eligibility and Restrictions
AdTo participate, users must register for the campaign and have completed at least Level 1 of the platform's individual identity verification process. The promotion is not available to users in all jurisdictions.
Bybit specified that residents of the European Economic Area are not eligible. The company also excluded users from several other countries, including Kenya, Nigeria, South Africa, Indonesia, South Korea, Mexico, the Chinese mainland, the Philippines, Thailand, and Vietnam, from receiving rewards under this promotion.
Market Context
This campaign is a strategic effort by Bybit, which identifies itself as the world's second-largest crypto exchange by trading volume, to bolster its fiat on-ramp services. Such promotions are a common tactic in the competitive digital asset exchange market to attract new users, increase platform liquidity, and encourage the adoption of integrated payment services.
By incentivizing direct fiat deposits, exchanges aim to simplify the process for investors to enter the cryptocurrency market, thereby increasing trading volumes and overall platform engagement. The focus on both new and existing users suggests a dual strategy of customer acquisition and retention.