Story
Bybit Launches 25,000 USDT Campaign to Boost Fiat Deposits and Payments
Summary
The cryptocurrency exchange is offering a 25,000 USDT prize pool in a promotional event running until July 15, aimed at increasing user deposits and adoption of its Bybit Pay service.
Cryptocurrency exchange Bybit has initiated a promotional campaign with a 25,000 USDT prize pool to incentivize fiat currency deposits and transactions made through its platform. The event, which runs through mid-July, is designed to increase user engagement and the adoption of its payment services.
Campaign Details
According to a company announcement on July 2, the "Fiat & Pay Summer Splash" campaign is now live and will conclude on July 15, 2026, at 10 a.m. UTC. Participants can earn entries into a lucky draw for a share of the prize pool by completing specific deposit and spending tasks, with rewards distributed on a first-come, first-served basis.
Users can earn entries through the following qualifying actions:
- New Users: Receive one lucky draw entry for depositing at least 100 USDT through eligible fiat channels.
- All Users: Can earn up to five additional entries by making deposits of at least 1,000 USDT.
- Bybit Pay Transactions: New users get one entry for spending at least 25 USDT, while all users can earn up to five more entries for spending at least 50 USDT.
Participation and Restrictions
AdTo be eligible, users must register for the campaign and complete the platform's Identity Verification process (Level 1 or Business Verification). The announcement specifies that qualifying deposits can be made via P2P Trading, Fiat Deposit, and One-Click Buy services.
The promotion is subject to significant geographical restrictions. It is not available to users residing in the European Economic Area. Additionally, participants from several other jurisdictions are ineligible for rewards, including Kenya, Nigeria, South Africa, South Korea, Mexico, the Philippines, and Vietnam, among others.
Market Context
This type of promotional event is a common strategy among cryptocurrency exchanges to attract new customers and increase on-platform liquidity. By encouraging fiat deposits, Bybit aims to lower the barrier for new user onboarding while the focus on Bybit Pay seeks to drive adoption of its integrated payment features.
The campaign comes as Bybit, which describes itself as the world's second-largest crypto exchange by trading volume, competes for market share in a highly competitive global industry. The rewards will be distributed to participants' Rewards Hub within 14 working days after the event concludes.