In a significant shift within the cryptocurrency card sector, Bybit has unveiled a substantial upgrade to its popular card. This newly revamped Bybit Card now boasts an impressive 20% cashback on purchases at supermarkets, alongside an enhanced referral program that allows users to unlock up to 30% cashback in total.
These updates not only solidify Bybit’s competitive edge but also offer users unprecedented savings on everyday expenses.
The previous version of the Bybit Card already stood out in the European market, but the latest enhancements are poised to make it nearly unbeatable. Let’s delve deeper into the changes and explore the potential savings that users can take advantage of with this upgrade.
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Expanded cashback categories
One of the most anticipated updates has finally arrived: supermarkets are now included in the cashback program, which was previously limited to five categories.
This addition is not merely a trivial enhancement; it taps into a significant portion of household budgets. In fact, grocery spending can account for up to 30-40% of a family’s monthly expenses.
Supermarket spending is a constant in everyone’s life, contrasting with discretionary expenses like dining out or travel, which can fluctuate monthly. Everyone needs to purchase food and household items, and now, that essential shopping can yield a 20% cashback in cryptocurrency.
Calculating potential savings
To illustrate, let’s consider an average Italian household that spends approximately €400-500 monthly on groceries. Even a single individual spending around €200-250 can see substantial benefits. By simply incorporating this new category, the cashback opportunities become incredibly appealing.
For a family spending €450 monthly at supermarkets, the cashback amounts to €90 per month, translating into €1,080 annually. On the other hand, a single person spending €200 would receive €40 monthly, culminating in an annual gain of €480.
These figures alone justify the convenience of obtaining the Bybit Card, especially considering that cashback is offered in USDC, a stablecoin with a consistent value.
Revamped referral program
The second noteworthy update pertains to the revamped referral program, which has undergone significant improvements. Bybit now implements an incentivized structure that rewards users for bringing new customers to the platform. This system is designed to be straightforward and beneficial for all participants.
How the referral system works
To maximize cashback, users can invite three friends to apply for the Bybit Card through their unique referral link. Once these friends complete the necessary steps, including registration, KYC verification, and a minimum deposit, the referrer unlocks an additional 10% in cashback. This effectively increases their cashback from 20% to a remarkable 30%.
For example, a user spending €1,100 monthly across the six available categories could see their annual cashback increase significantly—from €2,640 with 20% cashback to €3,960 with the new 30% cashback rate after inviting three friends. This represents an impressive additional income of €1,320 annually, simply for referring three people.
How to activate and benefit from the upgrades
To take advantage of these new features, users should follow a few simple steps. Begin by visiting the activation link to request the Bybit Card. Ensure that the invitation code 141884 is included during registration to unlock exclusive benefits, including the new supermarket cashback category.
Once the card is approved, typically within 24-48 hours post KYC verification, users need to deposit at least €100 or an equivalent amount in cryptocurrency to activate the 20% cashback on all six categories, including the new supermarket category.
New users can earn up to €200 in cashback during the promotional period, while existing Bybit EU users can receive up to €100, plus a bonus of €5 for completing their first transaction in the designated timeframe.
Maximizing your cashback potential
Once you have activated your card and started utilizing it, the next step is to unlock the enhanced 30% cashback. To achieve this, simply invite three friends to join. As soon as they fulfill the initial requirements, your account will automatically upgrade to the higher cashback rate.
The timeline for reaching the 30% cashback rate can vary but is typically achievable within 6-8 weeks, depending on your network. From that point onwards, all eligible purchases will yield a remarkable 30% cashback instead of 20%.
By examining a household scenario with a typical spending profile, such as a family of three with a medium-high income, the potential rewards become even clearer. With a total monthly expenditure of €1,430, the additional cashback from the new supermarket category and the referral program could yield an impressive annual increase of over €1,716.
In summary, Bybit’s recent upgrade to its card system not only enhances cashback potential dramatically but also positions it as a leading contender within the European crypto card market. With no hidden fees or staking requirements, users can enjoy substantial rewards simply by using their card for everyday purchases. This makes the Bybit Card an essential tool for those looking to maximize their spending efficiency in today’s competitive financial landscape.
