Bybit has quickly become an extremely well-known crypto exchange. Using the code BYBONUS will get users the best signup bonus on the platform.
» Claim the free Bybit promo bonus code here
How to Get the Bybit Referral Bonus
The Bybit referral bonus is a one-time offer that is available to everyone who is opening a new account on Bybit. The process for getting the bonus is quite simple. All users need to do is to head over to the website and create an account using the code.
Here is a detailed look into how new users can claim their bonus:
- Begin the process of signing up on Bybit by heading to the website and clicking on the yellow ‘Sign Up’ button in the top right corner.
- This takes you to the registration screen. Here, users need to provide details about themselves. It is imperative that all details are accurate, as they will need to be verified at the end.
- Eventually, Bybit asks the users if they have a referral code. Here, the signups need to enter: BYBONUS.
- Once the process is complete, users will need to perform certain verification checks to have full control of their account.
- After that, there are certain conditions that need to be met in order for the bonus to come through.
At the end of this process, the bonus should be usable on the platform. That said, there is more than one way to get rewards on Bybit. Let’s go through some of the other promotions available.
Bybit Promotions
Bybit truly does have a gigantic number of promotions available. While not all of them can be accessed by everyone, let’s take a look at each of them individually.
Bybit Rewards Hub
The rewards hub is the easiest way for most users of the exchange to get discounts and free crypto. Just like the rewards hub on other exchanges, users can complete certain tasks to get rewards.
Most of the activities in the rewards hub focus on users that are new to the platform. The activities revolve around basic tasks that can be done by new users such as completing their first trade or trying out a new feature.
There are some rewards that can be claimed by everyone. These promotions change constantly, and are usually available for a limited amount of time. An example would be a deposit blast-off where users can get a USDT bonus if they deposit a certain amount of currency into Bybit.
BITDAO Incentive Program
Like most large exchanges, Bybit has its own coin that can be held in order to gain certain rewards on the platform.
The incentive program can be used to get exclusive offers such as priority access to NFTs and discounts on the platform. It also allows users to earn a large interest rate on their holdings. While Bybit claims that its users can earn up to 999% APY, we found that this rate was almost impossible to achieve (although technically possible).
Still, the program does allow users to earn significantly higher interest rates than most of the competition. On top of that, holding BIT will also be one of the main factors in increasing the user’s VIP level.
Bybit VIP Program
VIP programs are fairly common for exchanges that have a special focus on trading like Bybit. The VIP program is a great way for traders to receive special discounts on their trading fees. Depending on the level, it is possible for traders to pay almost zero fees when they trade on the platform.
VIP members can also participate in special promotions with large prize pools. On top of that, there are specific events held year-round to which VIP members are invited. The members also have access to ambassadors that can be used to solve issues with Bybit in a pinch.
Becoming a VIP member is not easy. The program is only available to high-level traders and those who have deposited large amounts into Bybit. However, the program is ideal for some traders that like to trade large volumes of cryptocurrencies.
Bybit Programs
Apart from offering promotions, Bybit also offers a lot of programs that its users can take part in. These programs can be used by traders to earn extra crypto.
Bybit Referral Program
The Bybit referral program is the easiest way for someone to earn additional crypto on the exchange. All users need to do is to create an account, generate a referral link, and convince their friends and family to sign up using that referral link.
Once the new user signs up, the person who referred them will earn USDT depending on the activities they partake in. The two major earning milestones are when the referral makes their first deposit and when they reach a certain trading volume.
Both of the users get to enjoy significant rewards for using the referral program. As such, it is a win-win situation.
Bybit Affiliate Program
The affiliate program is for users that can convince a large number of people to join Bybit. It is not possible for anyone to become an affiliate, as there is an application process where users need to get approval.
However, the affiliate program is a great way to earn commission. The commission is based on the trading volume generated by the people that have been referred to Bybit through the affiliate.
The standard rate for affiliates is 30% of the profits that Bybit generates from the people referred. However, affiliates also enjoy a 10% cut of their sub-affiliates.
Bybit Broker Program
The broker program is for companies who can provide a lot of liquidity to the exchange. This is for high-level traders that can provide Bybit with an extremely large trading volume.
Bybit offers rebates of up to 45% for its brokers. Businesses can integrate themselves into Bybit through the exchange brokerage while trading platforms can use the APIs provided by Bybit to utilize the brokerage services.
While this program is mostly relevant to institutions and large organizations, it can be a very useful tool for certain small businesses and wallet service providers as well.
About Bybit
Bybit was founded in March 2018. Initially, it was an exchange that prided itself on its simplicity. Now, it is a fully-fledged platform with both DeFi services and a well-rounded trading interface.
Although Bybit is not as large as some of the big-names in the crypto space, it only took the company slightly over four years to hit the 10 million user mark. This is a testament to the company’s level of expertise and its dedication to its customers.
Bybit primarily focuses on its trading services. It offers a higher number of derivatives than almost any other exchange currently online. On top of that, it also ranks quite highly in terms of the number of pairs offered when it comes to margin trading.
Like many top exchanges, Bybit has eliminated all spot trading fees. That said, the fees on margin trading and derivatives are nothing to write home about, as they are pretty much equal to the industry standard.
Bybit offers capable DeFi services. Since the primary focus of the exchange is on trading, it is extremely nice to have liquidity mining, dual asset investing, and savings accounts on the exchange. It is also possible for users to take out loans using crypto as collateral.
Lastly, Bybit also has an NFT marketplace. The marketplace is quite active and is a great way to purchase NFTs that are not that highly priced. However, rare NFTs are not usually listed on Bybit’s marketplace.
Claim the Bybit Welcome Bonus Right Away!
The Bybit welcome bonus can be claimed quite easily! Simply use the referral promo code BYBONUS when registering on the exchange to get the reward.