Bybit Card
The Bybit Card is a Mastercard debit card offered by cryptocurrency exchange Bybit. It enables users to automatically convert and spend their digital assets at over 90 million merchants worldwide. The card serves as a bridge between crypto holdings and everyday purchases, with transactions triggering instant conversion from crypto to fiat at the point of sale.
- Type: Mastercard debit card with both virtual and physical options
- Key Feature: Automatic crypto-to-fiat conversion at point of sale with 0.9% fee
- Availability: Most of Europe (EEA), Switzerland, Australia, and select Latin American countries
- Standout Benefit: Tiered rewards up to 10% cashback based on VIP level with no token staking required
- Biggest Downside: Limited geographic availability with notable exclusions (US, UK, Canada, Singapore)
The card supports major cryptocurrencies including BTC, ETH, USDT, and USDC, while earning up to 8% APY on idle balances through its Auto-Savings feature.
Card Tiers
Detailed Summary
Bybit Mastercard Prepaid: Crypto-to-Fiat Spending Card with Tier-Based Rewards
Quick Summary
Key Features
- Instant crypto-to-fiat conversion with 0.9% fee at point of sale
- Tiered rewards offering 2-10% cashback based on VIP level (no staking required)
- Auto-Savings feature earning up to 8% APY on idle balances
- Seamless integration with the Bybit trading platform
- Available in virtual and physical formats
Main Advantages
- No monthly or annual fees
- Up to 10% cashback without token staking requirements
- 100% rebates on subscriptions like Netflix, Spotify, and ChatGPT
- Multiple currency support with user-defined conversion priority
- Apple Pay, Google Pay, and Samsung Pay integration
Notable Limitations
- Limited geographic availability (no US, UK, Canada, China, Singapore)
- Restricted cryptocurrency selection for card funding
- 0.9% conversion fee for crypto-to-fiat transactions
- Foreign exchange fee of 0.5-1% for non-local currency transactions
- Custodial solution requiring trust in Bybit's platform
Table of Contents
Basic Information
| Specification | Details |
|---|---|
| Card Name | Bybit Card |
| Card Network | Mastercard |
| Card Type | Prepaid debit card |
| Card Issuer | Bybit Limited (international); regulated e-money institutions (Europe) |
| Launch Date | Initially launched in Europe, expanded to other regions by 2023-2024 |
| Card Format | Both virtual and physical versions available |
| Mobile Wallet Integrations | Apple Pay, Google Pay, Samsung Pay |
| Merchant Acceptance | Over 90 million Mastercard merchants worldwide |
| Card Design | Standard white design with Bybit logo; occasional promotional co-branded designs |
| Payment System | Standard Mastercard payment rails |
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
- Points can be redeemed in Rewards Market or converted to USDT (0.002 USDT per point)
Points Calculation System
The Bybit Card uses a points-based rewards system calculated as follows:
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
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
Cashback Conversion:
- Fixed conversion rate: 1 point = 0.002 USDT
- Cashback (USDT) = Accumulated points × 0.002
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
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
Fees and Limits
| Fee Type | Amount |
|---|---|
| Virtual Card Issuance | Free |
| Physical Card Issuance | $29.99 (often waived for VIP users) |
| Monthly/Annual Fee | None |
| Inactivity Fee | None |
| Crypto Conversion Fee | 0.9% when crypto is converted to fiat for purchases |
| Foreign Exchange Fee | 0.5% for European cards, ~1% for international cards (waived for certain local currencies in Europe) |
| ATM Withdrawal Fee | First €100/month free, then 2% fee |
| Card Replacement | Virtual card free; physical card ~5 EUR (often waived) |
| Limit Type | Amount (EEA/Swiss Users) |
|---|---|
| Per Transaction | €5,000 |
| Daily Spending | €5,000 |
| Monthly Spending | €50,000 |
| Annual Spending | €250,000 |
| Daily ATM Withdrawals | Up to 10 withdrawals totaling €2,000 |
| Monthly ATM Withdrawals | Up to 300 withdrawals totaling €10,000 |
| Annual ATM Withdrawals | Up to 2,500 withdrawals totaling €70,000 |
| Card Lite Lifetime Limit | €150 (no ATM withdrawals) |
Card Tiers and Options
Card Types
| Feature | Bybit Card Lite (Virtual) | Standard Virtual Card | Physical Bybit Card |
|---|---|---|---|
| Issuance Fee | Free | Free | $29.99 (often waived for VIP users) |
| Card Material | Virtual only | Virtual only | White plastic with Bybit logo and EMV chip |
| Delivery | Instant digital issuance | Instant digital issuance after full KYC | Physical delivery (approx. 5 business days) |
| KYC Requirements | Basic KYC only (no address proof) | Full KYC including address verification | Must obtain virtual card first with full KYC |
| Special Features | Basic functionality | Full functionality with higher limits; eligible for rewards | Same features as virtual card plus ATM withdrawals; contactless enabled |
| Limitations | €150 lifetime spending limit; no ATM withdrawals | No preset lifetime cap; limits reset per day/month/year | Same limits as Standard Virtual Card |
VIP Tier Structure
| VIP Level | Requirements | Cashback Rate | Monthly Points Cap | Withdrawal Limits | Additional Benefits |
|---|---|---|---|---|---|
| VIP 0 (Standard) | Basic verified Bybit account | 2% (10x multiplier) | 5,000 points (10 USDT) | Daily ≤ 20K USDT, Monthly ≤ 100K USDT | Basic rewards access |
| VIP 1 | ≥ $100K asset balance OR ≥ $10M 30-day trading volume | 2% (10x multiplier) | 37,500 points (75 USDT) | Daily ≤ 6M USDT | Exclusive fee discounts, VIP events access |
| VIP 2 | ≥ $250K asset balance OR ≥ $25M 30-day trading volume | 2% (10x multiplier) | 75,000 points (150 USDT) | - | VIP Ambassador, Welcome Gifts |
| VIP 3 | ≥ $500K asset balance OR ≥ $50M 30-day trading volume | 4% (20x multiplier) | 100,000 points (200 USDT) | - | VIP Ambassador, Welcome & Birthday Gifts |
| VIP 4 | ≥ $1M asset balance OR ≥ $100M 30-day trading volume | 6% (30x multiplier) | 150,000 points (300 USDT) | Daily ≤ 8M USDT | All lower tier benefits |
| VIP 5 | ≥ $2M asset balance OR ≥ $250M 30-day trading volume | 8% (40x multiplier) | 200,000 points (400 USDT) | Daily ≤ 10M USDT | All lower tier benefits |
| Supreme VIP | ≥ $500M 30-day derivatives trading volume | 10% (50x multiplier) | 300,000 points (600 USDT) | Daily ≤ 12M USDT | Free physical card with expedited delivery (3 days) |
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.
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
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)
Geographic Availability
Supported Regions
- Most of the European Economic Area (EEA) and Switzerland
- Australia
- Select Latin American countries (Argentina, Brazil)
- Parts of Asia/Middle East (Kazakhstan via AFSA license)
Restricted Regions
- United States (Bybit doesn't serve US customers)
- United Kingdom (services ceased in 2023 due to FCA regulations)
- Canada (not supported due to regulatory restrictions)
- Singapore and China
- Within EEA: Croatia, Iceland, Ireland, France, and Romania are excluded
- 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
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
- 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
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
- Seamless integration with Bybit's broader ecosystem
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.
The card's primary limitations are 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, and generous rewards 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.
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