Bybit, the worldโs second-largest cryptocurrency exchange by trading volume, has launched a new cashback feature that allows users to earn rewards in USD Coin (USDC), one of the leading stablecoins in the market.
The new option expands Bybitโs existing cashback offerings, which already include USDT, Bitcoin (BTC), and AVAX.
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With the addition of USDC, more than 1.7 million Bybit Card holders worldwide can now choose their preferred crypto reward for everyday purchases.
Rewards, Limits, and Eligibility
According to an official announcement, Bybit card holders can earn from 2% to 10% cashback, or a maximum of $150, each month, depending on their crypto spending and VIP level.
Eligible spending does not include withdrawals to other e-wallets, prepaid wallets, or any type of holding accounts.
Upon approval, users receive an instant virtual card that works with Apple Pay and Google Pay.
They also have the option to request a physical card, which can be used for in-store payments and ATM withdrawals globally through the Mastercard network.
Stability and Flexibility for Crypto Users
The USDC cashback option is specifically aimed at users who prioritize stable returns while spending their digital assets.
Bybitโs Head of Payment Business, Joan Han, emphasized, โThe introduction of the USDC cashback option caters to cardholders seeking stable returns in an unpredictable market.”
The cashback system operates through a point system, where eligible transactions earn reward points that can be redeemed for cashback in the selected cryptocurrency.
For instance, users in the lowest VIP tier earn 10 points per transaction, with a monthly cap of 5,000 points, which equates to a 2% cashback rate. Higher VIP levels unlock additional rewards.
The move is part of Bybitโs broader effort to make crypto more practical and accessible for everyday financial use.
On the Flipside
- Cashback is only available for crypto-funded purchases. Bybit card holder who prefer to spend fiat currencies will not be eligible for rewards.
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