(Pocket-lint) - The Bybit referral code is NEWBONUS. This code can be used to get the best sign up bonus on the exchange.
How to Use the Bybit Promo Code
Using the Bybit code NEWBONUS, users can get a welcome bonus on the platform. The code needs to be entered when registering a new account on the exchange.
Users should keep in mind that entering the code when creating a new account is the only way to get the bonus. Those that already have an account will not be able to get the bonus.
Here is a step by step guide on using the referral code:
- Begin by heading to the Bybit website and clicking on the yellow sign up button on the top right.
- During the signup process, use the code NEWBONUS when asked for it.
- All the details entered must be accurate. This is because users may be required to verify their info due to KYC and AML requirements.
- Once the registration process is complete, users can access the bonus when they have met all the conditions.
- Users can also opt into the referral program by Bybit to earn additional rewards by inviting their friends and family to the platform.
Let’s take a detailed look at the Bybit referral program and how users can earn additional crypto once they have received the welcome bonus.
Bybit Referral Program
The Bybit referral program can be accessed once the account has been created. Users can go to the referral tab and create their own referral code. This code allows them to receive commissions by inviting their friends and family to the platform.
Unlike other platforms that reward their users a commission based on the trading fees generated by their referees, Bybit hands a fixed cash amount. Of course, there are certain conditions that must be met before the reward is handed out, but both the invitee and the referee receive the reward.
On top of this, both users also receive a reward card upon the completion of certain conditions. This card can contain prizes up to $1000 and can be a great way to receive additional crypto.
The conditions that need to be met in order to receive the bonus involve making trades and a deposit above a certain amount. As a person invites more people to the platform, they have a higher chance of receiving additional reward cards that can be opened to potentially earn large rewards.
Bybit Affiliate Program
It has now become common for crypto exchanges and services to have an additional affiliate program apart from the standard referral program. The affiliate program is designed for users that have access to large communities or a large following.
It is not possible for every user to become an affiliate. They need to go through an application process and provide information that proves that they can bring in a large number of users to the platform.
Affiliates do not receive a fixed reward when they invite a user to Bybit. Instead, they receive trading commissions which can go up to 30% of the trading fees generated by the referral. Affiliates also receive 10% of the commissions generated by their sub-affiliates, meaning the users that they referred to the platform that have also become affiliates.
Affiliates enjoy a lot of additional benefits, such as real-time settlement of their commissions and a 1-on-1 customer support experience with a business development manager at Bybit.
Bybit Rewards Program
There is another way for users to earn additional crypto and rewards on Bybit as well. The rewards hub is a game where users have to complete certain tasks to receive rewards.
Bybit claims that users can get up to $600 in prizes from the rewards hub. While that is theoretically true, some of the tasks can be a bit difficult to complete.
Overall, the referral and affiliate programs are much more consistent ways for users to earn free crypto from the exchange. That said, those that do not know a lot of people may find it difficult to make use of those two programs. For them, the rewards hub is a great alternative.
Also, there are a few tasks that are extremely easy to complete, and everyone should do them as soon as they register on Bybit. Once a task has been completed, the reward can be claimed instantly. Of course, there are conditions on when and how users can withdraw the earnings from the rewards hub, but they are not too restricting.
Crypto exchanges have become quite popular in the last few years, and they are still steadily gaining popularity. As such, there are now innumerable exchanges and options for crypto enthusiasts to pick from.
A lot of exchanges try to provide a gimmick or focus on one area to attract users to their platform. Bybit, however, does not do any of this. Instead, it tries to offer a competent exchange that users can use to both trade and engage in the DeFi side of crypto.
This means that Bybit is directly competing with the big boys such as Binance. It manages to hold its own, mainly due to a great trading platform that offers spot, margin, and futures trading.
Bybit is a little lighter on the DeFi side of things. Still, those that want to be able to increase their crypto through traditional DeFi methods would not have a lot of trouble on the exchange.
There are certain features that make Bybit stand out and may cause users to prefer it over other exchanges that are a lot larger in size. Let’s take a look at some of them.
The Bybit VIP Program
It is quite rare for crypto exchanges and trading platforms to offer VIP programs. However, the Bybit VIP Program actually makes a lot of sense. VIP users need to apply and go through a selection process, but they get to enjoy a lot of benefits if they make it in.
Apart from a welcome gift, VIP members have access to priority 24/7 support. They can also access industry insights provided by Bybit. While insights of a similar nature are available elsewhere, many of them are locked behind a paywall. As such, becoming a VIP allows users to receive benefits that they would otherwise have to pay for.
VIPs also have access to an ambassador that handles their account and provides them with support and information regarding Bybit. But the two major advantages that VIPs receive are discounts on taker fees for a limited time and a higher return on their assets in the ByFi center.
The ByFi center is what Bybit calls its DeFi features. Keeping in mind that those who end up becoming VIPs probably hold a large amount of crypto, the increase in the APY offered could end up making a huge difference in the amount of money they make on Bybit.
Lastly, VIP members can increase their VIP level by increasing their trading volume. A higher level means greater benefits. Also, users receive NFTs as rewards when their VIP level increases.
Remember that while the VIP program offers numerous perks and benefits, it is not worth it to become a VIP for everyone. The average person looking for a standard crypto exchange will not be able to meet the requirements to become a VIP anyways.
Bybit Institutional Services
Institutional services are the backbone of Bybit. Institutions have the option of setting up a trading account with the exchange that enjoys additional benefits, or they can use the Bybit API to enhance their trading processes.
Institutions have access to a lot of features that normal users do not. For one, they can create sub-accounts for all the employees. This allows them to try out different trading strategies to see how they work.
Institutions also have access to OTC lending. This allows institutions to quickly gain access to capital and opt for a flexible repayment plan.
Bybit Mobile Apps
One last area where we have to commend Bybit is its mobile apps. It is available on both the Google Play Store and the Apple App Store. Users looking to make use of the app will find that it has all of the features that are available on the desktop version of the exchange.
The iOS app does have a lower rating compared to the Android version. However, the app is still more than usable and should allow users to do everything from place trades to use the ByFi center.
Just remember that the app does not support tablets as well as phones. The tablet version is simply a stretched version of the phone app. As such, it will be better for tablet owners to open the mobile apps in the browser, just like they would on a computer.
Use the Bybit Promo Code NEWBONUS Now
The Bybit referral code NEWBONUS unlocks the best bonus for new registrations on the exchange. Sign up using the code now and simply meet the requirements to get the reward.
Disclosure: The owners of this content may be paid to recommend Bybit. The content on this page, including any positive views of Bybit, may not be neutral or independent. This article does not constitute financial advice.