Bybit Launches 25,000 USDT Campaign to Boost Fiat Deposits and Payments

Bybit, a major cryptocurrency exchange by trading volume, has launched a promotional campaign with a 25,000 USDT prize pool to incentivize fiat currency deposits and transactions on its payment platform. The initiative, dubbed the "Fiat & Pay Summer Splash," is designed to increase user engagement with the exchange's core fiat-to-crypto services.

Campaign Details

The promotion runs from July 2 until July 15, 2026, at 10 a.m. UTC, according to a company announcement. Participants can earn entries into a lucky draw for a share of the prize pool by completing specific tasks after registering for the event and completing identity verification. Rewards are noted to be limited and distributed on a first-come, first-served basis.

Key actions to earn entries include:

• New User Fiat Deposit: A deposit of at least 100 USDT via eligible fiat channels earns one lucky draw entry.
• All User Fiat Deposit: Deposits of at least 1,000 USDT can earn additional entries, with a maximum of five available per user.
• New User Bybit Pay: A transaction of at least 25 USDT using Bybit Pay earns one lucky draw entry.
• All User Bybit Pay: Spending at least 50 USDT can earn additional entries, up to a maximum of five.

Eligible fiat deposit methods for the campaign include Bybit's P2P Trading, Fiat Deposit, and One-Click Buy services.

Eligibility and Distribution

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Participation requires users to have completed at least Individual Identity Verification Level 1 or Business Verification. The promotion is not available to users in all regions, with notable exclusions including the European Economic Area.

Bybit has also specified that users from several other countries are not eligible for rewards, including Kenya, Nigeria, South Africa, Indonesia, and Mexico, among others. The company stated that rewards will be distributed to participants' Rewards Hub within 14 working days after the campaign concludes.

Market Context

Promotional campaigns like this are a common strategy among cryptocurrency exchanges to drive user acquisition and boost activity on specific platform features. By focusing on fiat on-ramps and payment services, Bybit aims to strengthen the bridge between traditional finance and its digital asset ecosystem.

Encouraging the use of integrated payment solutions and direct fiat deposits is critical for exchanges competing for mainstream adoption. These features are key to improving user experience, increasing platform liquidity, and capturing market share in the highly competitive global crypto landscape.