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Bybit Launches 25,000 USDT Campaign to Boost Fiat Deposits and Payments
Cryptocurrency exchange Bybit has launched a promotional campaign titled "Fiat & Pay Summer Splash," offering a total prize pool of 25,000 USDT, according to a company announcement. The event, which is now live, aims to encourage users to make fiat currency deposits and utilize the platform's payment services.
Campaign Mechanics
The promotion is scheduled to run through July 15, 2026, at 10 a.m. UTC. To participate, users must register for the event and complete the platform's identity verification process. Participants can earn entries into a lucky draw by completing specific deposit and spending tasks.
Key requirements for earning entries include:
- New User Deposit: A minimum deposit of 100 USDT through eligible fiat channels earns one lucky draw entry.
- All User Deposits: Deposits of at least 1,000 USDT can earn additional entries, up to a maximum of five.
- New User Spending: A minimum spend of 25 USDT using Bybit Pay earns one entry.
- All User Spending: Spending at least 50 USDT via Bybit Pay can earn additional entries, also capped at five.
According to Bybit, eligible deposit methods include Peer-to-Peer (P2P) Trading, Fiat Deposit, and One-Click Buy. The rewards are set to be distributed to user accounts within 14 working days after the campaign concludes, and will be available on a first-come, first-served basis.
AdEligibility and Restrictions
Participation is restricted to users who have completed at least Level 1 Individual Identity Verification or Business Verification. The announcement specified that the promotion is not available to users in the European Economic Area.
Additionally, users from several jurisdictions are not eligible to receive rewards from this campaign. These include Kenya, Nigeria, South Africa, Georgia, Bangladesh, Indonesia, Egypt, Kyrgyzstan, South Korea, Colombia, Mexico, the Chinese mainland, the Philippines, Thailand, and Vietnam.
Strategic Context
This campaign is a strategic effort by Bybit, which the press release identifies as the world's second-largest crypto exchange by trading volume, to increase user engagement with its fiat-to-crypto on-ramps and integrated payment features. Such promotions are a common tactic among exchanges to attract new customers, boost platform liquidity, and encourage the adoption of services beyond core trading, thereby deepening their ecosystem's utility.