Bybit Card

Bybit Mastercard Prepaid: Crypto-to-Fiat Spending Card with Tier-Based Rewards

Basic Information

Rewards and Benefits

Cashback Structure

The Bybit Card offers a tiered cashback program based on the user's VIP level within the Bybit ecosystem. Unlike many competitors, no token staking is required to earn rewards.

• VIP 0 (Standard): 2% cashback (up to 5,000 points monthly)
• VIP 1-2: 2% cashback with higher monthly caps
• VIP 3: 4% cashback
• VIP 4: 6% cashback
• VIP 5: 8% cashback
• Supreme VIP: 10% cashback (up to 300,000 points monthly)

Additional benefits include:

• Auto-Savings feature earning up to 8% APY on idle balances
• 100% rebates on Netflix, Spotify, Amazon Prime, TradingView, and ChatGPT subscriptions
• 100% rebates on premium AI services including Claude Pro, Midjourney, Perplexity Pro, Gemini Advanced, and more (for Tier 2+ users)
• Points can be redeemed in Rewards Market or converted to USDT, BTC, USDC, or AVAX (0.002 USDT equivalent per point)
• Premium airport lounge access at 250+ global locations

Points Calculation System

The Bybit Card uses a points-based rewards system calculated as follows:

1. Points Earning Formula:

   • Points earned = (Transaction amount ÷ Currency point equivalent) × VIP multiplier
   • Currency point equivalents:
     • 1 EUR/USD = 1 point
     • 900 ARS = 1 point
     • 5 BRL = 10 points

2. Point Multipliers by VIP Level:

   • VIP 0-2: 10x multiplier
   • VIP 3: 20x multiplier
   • VIP 4: 30x multiplier
   • VIP 5: 40x multiplier
   • Supreme VIP: 50x multiplier

3. Cashback Conversion:

   • Fixed conversion rate: 1 point = 0.002 USDT equivalent
   • Cashback options: USDT, BTC, USDC, or AVAX
   • Cashback value = Accumulated points × 0.002

4. Subscription Rebates:

   • 100% cashback in points for eligible subscriptions
   • Special points calculation: Transaction amount × 500
   • Example: A €11.99 Spotify subscription generates 5,995 points

5. Points Processing:

   • Points remain in "pending" status for 3 days after transactions
   • No expiration date for earned points
   • Monthly caps apply based on VIP level

Bybit Loyalty Program

Bybit offers a unified loyalty program that combines spending across both Bybit Card and Bybit Pay. Users earn Rewards Points that can be exchanged for various benefits:

• Bonuses and fee savers
• Exclusive merchandise on Reward Market
• Direct cashback in cryptocurrency
• Airport lounge access

Key Features of the Unified Program:

• Combined spending totals from both Bybit Card and Bybit Pay
• Faster tier progression with instant upgrades (next business day vs. previous month-long waits)
• Centralized point earning and redemption system

Tier Structure and Benefits:

Tier	VIP User					Non-VIP User
	VIP Level	Point Multipliers / Cashback Rate	Monthly Point Cap	Equivalent Monthly Cashback Cap (USD)	Minimum Monthly Spending (USD)	Point Multipliers / Cashback Rate	Monthly Point Cap	Equivalent Monthly Cashback Cap (USD)
Tier 1 (Base)	-	-	-	-	0	10 / 2.00%	2,500	5
Tier 2 (Beta)	VIP 1 & 2	10 / 2.00%	25,000	50	500	10 / 2.00%	25,000	50
Tier 3 (Alpha)	VIP 3	20 / 4.00%	75,000	150	3,500	20 / 4.00%	75,000	150
Tier 4 (Apex)	VIP 4 & PRO 1	30 / 6.00%	125,000	250	9,500	30 / 6.00%	125,000	250
Tier 5 (Omega)	VIP 5 & PRO 2	40 / 8.00%	200,000	400	12,500	40 / 8.00%	200,000	400
Tier 6 (Infinite)	Supreme VIP, PRO 3, PRO 4 & PRO 5	50 / 10.00%	300,000	600	25,000	50 / 10.00%	300,000	600

Merchant Rebate Program (100% Cashback):
Users from Tier 2 and above are eligible for 100% purchase rebates on the following services:

• TradingView (monthly subscriptions only)
• ChatGPT Plus
• Netflix
• Spotify
• Amazon Prime
• Premium AI services (Claude Pro, Midjourney, Perplexity Pro, Gemini Advanced, Cursor, DeepL, Windsurf AI)

Rebates are credited on the last day of every calendar month and are subject to the maximum monthly cashback limits listed in the tier table.

Example Calculation:

1. A Tier 2 (Beta) user pays €11.99 for Spotify Premium

   • Earns 5,995 points (11.99 × 500)
   • Remaining monthly cap: 25,000 - 5,995 = 19,005 points

2. The same user spends €29.90 on Amazon Prime

   • Earns 14,950 points (29.90 × 500)
   • Total points: 5,995 + 14,950 = 20,945
   • Remaining monthly cap: 25,000 - 20,945 = 4,055 points

3. The user then spends €15.99 on Netflix

   • Would normally earn 7,995 points (15.99 × 500)
   • Due to monthly cap, only receives remaining 4,055 points
   • Monthly point limit reached

4. User spends €500 in retail stores

   • Would normally earn 5,000 points (500 × 10)
   • Receives 0 points as monthly cap was already reached

Premium Travel Benefits

Bybit Card offers premium airport lounge access at over 250 global locations including:

• Singapore Changi Airport
• Dubai International Airport
• Melbourne Airport
• Argentina's Ezeiza International Airport
• Major European hubs

Access Options:

• All cardholders can redeem points for lounge access through the Rewards Mall
• VIP users (VIP 1+) receive a 50% discount on the points redemption rate
• Lounge access is available regardless of airline or ticket class

Additional Travel Benefits:

• No foreign transaction fees in select regions
• Global ATM access
• 24/7 travel assistance through dedicated support channels

Fees and Limits

Card Tiers and Options

Tier Structure

All VIP levels also receive benefits such as priority customer support, exclusive trading fee rates, privileged fiat services, early access to new products, and special event invites. With the unified rewards program, tier upgrades now occur the next business day after meeting spending thresholds, rather than the previous month-long wait.

Card Types

Top-Up Methods

Users fund the Bybit Mastercard Prepaid Card by utilizing balances held in their Bybit account, choosing from supported cryptocurrencies (BTC, ETH, XRP, USDT, USDC, TON, and regionally BNB/MNT) or available fiat currency. At the point of purchase, if there is no sufficient fiat balance, the card automatically converts crypto to fiat using Bybit's One-Click Sell mechanism at a 0.9% fee, with a foreign exchange fee of 0.5-1% for non-local currencies. Funds must be held in Bybit's custodial wallet, meaning users must transfer assets from their external/self-custody wallet or trading subaccount into Bybit's Funding Account, thus relinquishing custody to the platform before they can be used for card spending. Top-up and spending are managed in the Bybit app, allowing real-time balance conversion with no waiting period for funds to become available. Only select cryptocurrencies are supported for funding, and users should be aware of transaction limits (e.g., €5,000 per transaction, €50,000 per month in the EEA) and the requirement to trust Bybit's custodial solution.

Self-Custody Custodial

The Bybit Card operates on a fully custodial model where Bybit controls and manages user funds throughout the entire process. Users do not maintain control over private keys and must trust Bybit's platform to hold and convert their crypto assets. Crypto-to-fiat conversion occurs instantly at the point of sale with a 0.9% fee. Users must comply with full KYC requirements, and funds are held within Bybit's custody infrastructure integrated with their trading platform. In the event the issuer ceases operations or faces regulatory changes, access to funds depends on Bybit's platform status and applicable regulations. The card also has geographic and crypto selection restrictions, further emphasizing reliance on Bybit's custodial services.

Supported Currencies and Conversion

Supported Cryptocurrencies

The Bybit Card supports conversion from a limited selection of cryptocurrencies, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• XRP
• Tether (USDT)
• USD Coin (USDC)
• Toncoin (TON)
• BNB (Binance Coin) - for some regions
• Mantle (MNT) - for some regions
• Avalanche (AVAX) - added as cashback option in February 2025

Supported Fiat Currencies

The card operates in several fiat currencies, with the denomination determined by the user's region:

• EUR (Euro)
• GBP (British Pound) - supported as currency but not issued in UK
• USD (US Dollar)
• ARS (Argentine Peso)
• BRL (Brazilian Real)
• Various other local currencies depending on region

Conversion Process

• Fiat balance in Bybit Funding Account is used first when available
• If insufficient, auto-conversion from crypto occurs at point of sale
• User can set priority order for which crypto assets to convert first
• Conversion happens instantly via Bybit's One-Click Sell mechanism at 0.9% fee
• Exchange rates for foreign currencies based on Mastercard's wholesale rate plus 0.5-1% (depending on region)

Cashback Currency Options

Users can select their preferred cashback currency from four options:

• USDT (default option)
• BTC
• USDC (added April 18, 2025)
• AVAX (added February 14, 2025, with promotional rates up to 10%)

The selection can be changed at any time through the Bybit app, with the new preference applying to future transactions.

Geographic Availability

Supported Regions

• All 29 European Economic Area (EEA) countries through MiCAR license passporting
• Switzerland
• Australia
• Select Latin American countries (Argentina, Brazil, Mexico)
• Parts of Asia/Middle East (Kazakhstan via AFSA license)

Restricted Regions

• United States (Bybit doesn't serve US customers)
• Canada (not supported due to regulatory restrictions)
• Singapore and China
• Sanctioned countries

Regional Variations

• Each region receives cards denominated in specific local currencies
• Some regions have different spending limits (e.g., Australian limit of $13,500 USD per transaction vs €5,000 for EU)
• Regulatory requirements vary by jurisdiction

European Expansion

With the MiCAR license obtained from Austria's Financial Market Authority (FMA) in May 2025, Bybit has established its European headquarters in Vienna with plans to hire 100+ staff. This regulatory approval enables Bybit to serve a potential market of 500 million Europeans across all 29 EEA member states through the regulatory passporting mechanism.

Compliance and Security

Identity Verification

• Basic KYC (identity verification) for Card Lite
• Full KYC including address verification for Standard card
• Additional information may be required for specific regions (e.g., CPF in Brazil)
• PEP (Politically Exposed Person) screening

Regulatory Framework

• MiCAR license from Austria's FMA for European operations (obtained May 29, 2025)
• EU e-money regulations for European operations
• AFSA license for international operations via Bybit Limited
• Local VASP (Virtual Asset Service Provider) registration in countries like Argentina

Security Features

• EMV chip with PIN protection for physical cards
• 3-D Secure (3DS) authentication for online transactions
• Instant freeze/unfreeze capability via Bybit app
• Mobile wallet tokenization
• 2-Factor Authentication required for sensitive actions
• Real-time transaction alerts

Technical Details

Integration with Bybit Platform

• Card management integrated into main Bybit app
• Seamless connection to Bybit's trading and custody infrastructure
• Automatic conversion using Bybit's exchange rates and liquidity
• Shared KYC/identity verification with main Bybit account

Conversion Mechanics

• Settlement is instant at point of sale
• Conversion rate is market rate plus 0.9% fee (no hidden markups)
• Exchange rates for foreign currencies based on Mastercard's wholesale rate plus applicable fees

Card Technology

• EMV chip-enabled for physical cards
• Contactless payment capability
• Virtual card details accessible through Bybit app
• PIN management through dedicated interface

User Experience

Mobile App Features

• Card management integrated into main Bybit app
• Balance checking and transaction history
• Crypto priority selection for conversion order
• Security controls (freeze/unfreeze, PIN management)
• Support for both iOS and Android

Support Channels

• 24/7 multilingual customer support via chat and email
• Dedicated card FAQ and help center
• VIP users receive priority support

User Feedback

• Positive aspects: Seamless crypto-to-fiat conversion, worldwide acceptance, generous rewards, minimal fees
• Pain points: Limited country support, restricted crypto selection, occasional support delays for complex issues

Usage Optimization

• Maintain sufficient fiat balance to avoid conversion fees
• Use card in countries with waived FX fees when possible
• Stay within free ATM withdrawal limits (first €100/month)
• Keep funds in Auto-Savings to offset conversion fees with earned interest

Best Suited For

• Active Bybit traders who want to directly spend trading profits without multiple transfers
• Crypto investors who seek to use their digital assets for everyday purchases without manual conversions
• High-volume users who can benefit from the tiered VIP structure and elevated rewards
• International travelers who want to avoid traditional banking FX fees and gain worldwide acceptance
• Subscription service users who can maximize value through 100% rebates on supported services
• Frequent travelers who can benefit from airport lounge access and global ATM availability

Pros and Cons

Pros

• No staking requirements for rewards (unlike many competitors)
• Generous cashback rates up to 10% based on VIP level
• Zero annual or monthly fees
• 100% rebates on popular subscriptions and premium AI services
• Seamless integration with Bybit's broader ecosystem
• Premium airport lounge access at 250+ global locations
• Multiple cashback currency options (USDT, BTC, USDC, AVAX)
• Unified rewards program with faster tier progression

Cons

• Limited geographic availability (unavailable in major markets like US, UK, Canada)
• Restricted selection of supported cryptocurrencies
• 0.9% conversion fee on all crypto-to-fiat transactions
• Custodial solution requiring trust in Bybit's platform
• Potential tax implications when spending crypto (taxable events)

Conclusion

The Bybit Card stands out in the crypto card market with its combination of zero annual fees, competitive conversion rates (0.9%), and industry-leading rewards program offering up to 10% cashback without requiring token staking. The integration with Bybit's trading platform creates a seamless experience, allowing users to instantly spend trading profits with minimal friction.

With recent enhancements including premium airport lounge access, expanded cashback currency options (USDT, BTC, USDC, and AVAX), and a unified rewards program with faster tier progression, the Bybit Card has strengthened its competitive position. The MiCAR license obtained in May 2025 has also expanded its European footprint to all 29 EEA countries.

The card's primary limitations remain its geographic restrictions (unavailable in the US, UK, Canada, and other major markets) and limited cryptocurrency support. Additionally, the custodial nature means users must trust Bybit with their funds.

The Bybit Card is ideally suited for active Bybit users in supported regions who want to maximize the utility of their crypto holdings. Its combination of worldwide acceptance, minimal fees, generous rewards, and premium travel benefits makes it one of the top crypto debit cards available, particularly for those who already use the Bybit platform for trading or holding assets.

Additional Information

Tax Considerations

Users should be aware that spending crypto via the card constitutes a crypto-to-fiat conversion, which may be a taxable event in many jurisdictions. Bybit does not currently provide detailed tax reporting for card transactions, placing the record-keeping burden on users.

Regulatory Risks

As crypto regulations continue to evolve globally, there is potential for regulatory changes to impact card availability or features. Bybit has demonstrated willingness to exit markets when regulations change (as seen with the UK), so users should be mindful of potential service disruptions. The recent MiCAR license in Europe provides greater regulatory certainty in that region, but users in other jurisdictions should remain aware of potential regulatory developments.