Bybit Launches Promotional Campaign with 25,000 USDT Prize Pool to Boost Fiat Usage

Bybit, which ranks as the world's second-largest cryptocurrency exchange by trading volume, has launched a promotional campaign with a 25,000 USDT prize pool. The event, named the "Fiat & Pay Summer Splash," is designed to encourage user activity in fiat currency deposits and transactions on its platform.

Campaign Details

According to the company's announcement, the campaign began on July 2, 2026, and is scheduled to run until July 15, 2026, at 10 a.m. UTC. The rewards will be distributed to eligible participants through a lucky draw system.

Bybit specified that the rewards are limited and will be allocated on a first-come, first-served basis. To be eligible, users must register for the campaign and have completed the platform's Identity Verification process. Rewards are slated for distribution to users' accounts within 14 working days after the event concludes.

Participation Requirements

Participants can earn entries into the lucky draw by completing specific deposit and spending tasks. The requirements differ for new and existing users:

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• New Users: Can receive one lucky draw entry by depositing at least 100 USDT through eligible fiat channels or by spending a minimum of 25 USDT using Bybit Pay.
• All Users: Can earn additional entries by depositing at least 1,000 USDT or spending at least 50 USDT via Bybit Pay. A maximum of five entries from deposits and five from spending are available per user.

Eligible deposit methods for the promotion include Peer-to-Peer (P2P) Trading, Fiat Deposit, and the One-Click Buy feature.

Context and Restrictions

This type of promotion is a common strategy among crypto exchanges to boost user engagement and increase the adoption of their fiat on-ramp and payment services, which are critical for attracting new capital into the digital asset ecosystem.

However, Bybit has placed significant geographical restrictions on participation. The campaign is not available to users residing in the European Economic Area. Additionally, users from several other jurisdictions are ineligible for rewards, including Kenya, Nigeria, South Africa, Indonesia, South Korea, Mexico, the Philippines, Thailand, and Vietnam, among others listed in the official terms.