Story
Bybit Announces 25,000 USDT Prize Pool in New Fiat Deposit and Payments Campaign
Summary
Cryptocurrency exchange Bybit has initiated a promotional event with a 25,000 USDT prize pool to incentivize fiat deposits and transactions through its Bybit Pay service. The campaign is subject to geographic restrictions and runs until July 15, 2026.
Cryptocurrency exchange Bybit has launched a promotional campaign aimed at increasing user engagement with its fiat currency and payment services, offering a total prize pool of 25,000 USDT. According to a company announcement on July 2, the "Fiat & Pay Summer Splash" event is now live and will run until 10 a.m. UTC on July 15, 2026.
Campaign Mechanics
The promotion is structured to reward users for making fiat deposits and using the Bybit Pay feature. Participants can earn entries into a lucky draw for a share of the prize pool by completing a series of tasks. Rewards are noted as being limited and will be distributed on a first-come, first-served basis.
Key tasks for earning entries include:
- New User Fiat Deposit: One entry for depositing a minimum of 100 USDT through eligible fiat channels.
- All User Fiat Deposit: Additional entries for depositing at least 1,000 USDT, with a maximum of five qualifying deposit entries.
- New User Bybit Pay: One entry for spending a minimum of 25 USDT.
- All User Bybit Pay: Additional entries for spending at least 50 USDT, with a maximum of five qualifying spending entries.
Eligible deposit methods specified in the announcement are P2P Trading, Fiat Deposit, and One-Click Buy.
Eligibility and Restrictions
AdParticipation in the campaign is contingent on users completing the exchange's Identity Verification process. Bybit has also outlined significant geographic restrictions for the promotion.
Users residing in the European Economic Area (EEA) are not eligible to participate. The company also excluded users from a number of other jurisdictions, including Kenya, Nigeria, South Africa, South Korea, Mexico, mainland China, the Philippines, and Vietnam from receiving rewards.
Market Context
This type of promotional campaign is a common strategy used by cryptocurrency exchanges to stimulate user activity and attract new customers. By focusing on fiat on-ramps and integrated payment systems, Bybit aims to bridge the gap between traditional finance and its digital asset ecosystem.
Incentivizing the use of features like Bybit Pay can help increase platform stickiness and transaction volume, which are key metrics in the competitive crypto exchange market. Bybit, which states it is the world's second-largest crypto exchange by trading volume, is leveraging such campaigns to encourage broader adoption of its services beyond core trading.