- Bybit has launched a Bitcoin rewards campaign for users.
- Aside from Bitcoin, users will also stand a chance of winning smaller prizes like iPhones.
- The campaign comes as exchanges seek to capitalize on the recent crypto market recovery.
With Bitcoin‘s recent resurgence fueled by the approval of spot Bitcoin ETFs, the anticipation of the halving, and hopes of changing macroeconomic winds, interest is returning to the crypto space. Amid the growing excitement, crypto firms that have weathered the harsh crypto winter are looking to capitalize.
Among these firms is Bybit. The leading derivatives crypto exchange, Bybit, has recently announced a new campaign promising active users Bitcoin rewards.
Bybit Offers Five Golden Coins
In a press release on Thursday, February 15, Bybit announced its “Wish Upon a Bitcoin Campaign,” inspired by Willy Wonka’s five golden tickets. Unlike the Willy Wonka campaign, which offered users a lifetime supply of chocolate, Bybit’s campaign offers a shot at life-changing wealth with 5 BTC up for grabs.
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Per the promo page, users can get a lucky draw by completing specific tasks relating to their account or trading. The exchange disclosed that they would refresh these tasks every seven days for four rounds. Aside from the Bitcoin rewards, users can also win other prizes like USDT vouchers or an iPhone 15.
Commenting on the campaign, Bybit co-founder Ben Zhou asserted that it reflected this exchange’s commitment to positively impacting the lives of its users.
"Bybit has always been about more than just trading. 'Wish Upon a Bitcoin' reflects our commitment of #TheCryptoArk to being a force for positive change in the lives of our users. We want to be the bridge that turns dreams into reality, especially in the ever-evolving world of crypto. This campaign will help our users unlock the doors to financial opportunities and fulfilling aspirations," Zhou enthused.
The Wish Upon a Bitcoin campaign will end at 10 AM UTC on March 15, 2024.
Crypto Trading Back on the Rise?
With crypto prices declining and several leading crypto firms going belly up in 2022, trust in centralized crypto exchanges and general market interest had decreased, leading to a corresponding dip in trading volumes and revenue for centralized platforms. However, crypto trading volumes are rising again, with crypto asset prices mounting a resurgence in 2023.
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According to CCData, spot trading volumes on centralized exchanges have grown in the last four months, while derivatives volumes have grown in three of the previous four months. As reported by DailyCoin in January 2024, Bybit has been among the big winners in this resurgence, adding 2.2% to its market share in 2023 amid shifting regulatory dynamics.
On the Flipside
- Despite assertions of positively impacting users’ lives, Bybit stands to gain from a boost in trading volume.
- Bybit still faces steep competition from Binance.
Why This Matters
Bybit’s campaign highlights the efforts of crypto firms to capitalize on growing excitement around the crypto space as Bitcoin claims new highs.
Read this for more on the battle for market share among crypto exchanges:
Binance Dips Below 50% Market Share, OKX and ByBit Gain
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