Bybit is overturning all the rules of its debit card, as has happened to nearly all its competitors over time (Crypto.com above all).
The card has undergone a significant nerf, despite offering an attractive bonus for the first month. Let's take a closer look.
What's Changing?
Until now, Bybit used a tier system based on monthly spending. The more you spent in the previous month, the higher your tier (from 2% to 10% cashback) without having to be a trading whale.
Starting in August, the flat 1% cashback will be unlimited, and the spending-related tiers will be eliminated. Spending, therefore, will no longer allow you to level up.
Unfortunately, refunds on subscriptions will be said goodbye (they are no longer refunded after the first month).
Finally, to obtain higher percentages, you must be a VIP user, meaning you have high trading volumes or significant assets.
The positive note: a €160 welcome bonus
While the card has become almost completely unpopular with average users over the long term, Bybit is still introducing a very attractive introductory promotion for the first 30 days:
- €10 immediate bonus on your first top-up/deposit
- 10% cashback for the first 30 days, up to a maximum of €100 on specific categories (travel, hotels, airlines, fashion, restaurants, and transportation)
- 100% cashback on subscriptions in the first month, up to €50 total in the first month for services like Netflix, OpenAi ChatGPT, TradingView, Spotify, and Amazon Prime.
Total value: €160 in the first 30 days, with no application fees, subscription fees, or inactivity fees.
Was it better before?
For VIP users, virtually nothing changes. For us retail users, casual users, it was definitely better before.
It's good for those who request it now, but only for the first month.
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