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Bybit Launches 25,000 USDT Campaign to Drive Fiat Deposits and Payments
Summary
Cryptocurrency exchange Bybit has initiated a promotional event with a 25,000 USDT prize pool, aiming to encourage user activity in fiat deposits and its Bybit Pay service through July 15.
Bybit, one of the world's largest cryptocurrency exchanges by trading volume, has launched a promotional campaign with a 25,000 USDT prize pool to incentivize fiat currency deposits and transactions on its platform. The "Fiat & Pay Summer Splash" event is designed to increase user engagement with the exchange's fiat on-ramps and payment services.
How the Promotion Works
According to the company's announcement, the campaign runs until July 15, 2026, at 10 a.m. UTC. To participate, users must register for the event and complete identity verification. Participants can then earn entries into a lucky draw by completing specific deposit and spending tasks.
Key actions to earn entries include:
- New Users: Depositing at least 100 USDT via eligible fiat channels earns one entry.
- All Users: Depositing a minimum of 1,000 USDT can earn additional entries, with a maximum of five available through deposits.
- New Users: Spending at least 25 USDT using Bybit Pay earns one entry.
- All Users: Spending a minimum of 50 USDT via Bybit Pay can earn additional entries, up to a maximum of five.
AdEligible deposit methods for the campaign are P2P Trading, Fiat Deposit, and One-Click Buy. Bybit stated that rewards are limited and will be distributed on a first-come, first-served basis.
Eligibility and Market Context
Participation is restricted to users who have completed at least Level 1 Individual Identity Verification or Business Verification. The promotion is notably unavailable to users in the European Economic Area and several other jurisdictions, including Kenya, Nigeria, South Africa, Mexico, and the Philippines, among others.
Promotional campaigns like this are a common strategy among cryptocurrency exchanges to attract new customers and stimulate platform activity. By focusing on fiat deposits and payment services, Bybit aims to strengthen the bridge between traditional financial systems and its digital asset ecosystem, a key area of competition in the crypto industry. Rewards will be sent to user accounts within 14 working days after the event concludes, the company said.