Bybit is a large crypto exchange, now licensed in Dubai under VARA, offering spot and derivatives trading. Its welcome gifts for new users add up to 100 USDT across four tasks, but they come mostly as fee-saver coupons rather than withdrawable cash, and the last 40 USDT needs 30,000 USD of trading volume, so about 60 USDT is realistic. It restricts access in the United States and several other countries, and the welcome event also excludes the EEA and the UK.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
Bybit
A staged sign-up offer for new Bybit users that pays up to 100 USDT in welcome gifts across four stages (20, 20, 20 and 40 USDT) for verifying identity, depositing 100 USD and trading, all within 7 days of registration. The last stage needs 30,000 USD of trading volume, so about 60 USDT is the realistic figure.
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Bybit is a crypto exchange founded in 2018 by Singaporean entrepreneur Ben Zhou, who remains CEO. It started as a derivatives-focused platform in Singapore and moved its headquarters to Dubai in 2022. It is now one of the largest exchanges by trading volume, with millions of users worldwide.
Bybit's core regulatory approvals sit in the UAE. Dubai's Virtual Assets Regulatory Authority (VARA) granted it a provisional VASP approval in September 2024, and in 2025 the UAE's Securities and Commodities Authority gave Bybit a Virtual Asset Platform Operator License, the first of its kind issued to a crypto exchange in the UAE. In the EU, Bybit EU GmbH received a MiCA crypto-asset service provider license from Austria's Financial Market Authority in May 2025, letting it serve clients across the EU and EEA from a Vienna office. It does not hold a comparable license in the United States and does not accept US customers.
On February 21, 2025, hackers linked to North Korea's Lazarus Group stole roughly $1.5 billion in Ethereum from a Bybit multisig cold wallet by compromising the interface of a third-party wallet provider, making it the largest crypto exchange hack on record.
Bybit said client funds remained backed and kept withdrawals open throughout. Within about 72 hours it replenished its Ethereum reserves through a mix of loans and market purchases, and the company has said no user lost funds as a result of the incident. Some of the stolen funds have since moved through mixers and cross-chain bridges, and Bybit's CEO has said a portion has gone untraceable. The exchange recovered and kept operating, but the incident is a real data point on exchange custody risk.
Bybit runs spot trading across several hundred pairs, plus a derivatives suite covering USDT and USDC perpetual contracts, inverse perpetuals, expiry futures and options. A Unified Trading Account lets a user hold spot and derivatives balances together. There is also copy trading and Bybit Earn, a set of savings and staking products with variable yields.
Standard spot trading fees are 0.1% for both makers and takers before volume discounts. Derivatives fees are lower, commonly around 0.02% maker and 0.055% taker on the main perpetual contracts. Fees drop through a VIP tier system based on 30-day volume and account balance.
Bybit's promotions run through a Rewards Hub where users complete tasks (identity verification, a minimum deposit, and often a minimum trade volume) to unlock tiered payouts. The current welcome gifts pay up to 20 USDT for completing verification, 20 USDT for depositing at least 100 USD, 20 USDT for depositing 100 USD and trading at least 10 USD, and 40 USDT for trading at least 30,000 USD, all within 7 days of registration, so about 60 USDT is the realistic total without heavy trading. The promo page's 5,100 USDT figure adds bonuses for much larger deposit and volume tiers, and an earlier Rewards Hub ladder advertised at up to 30,000 USDT has ended. The total headline figure is a ceiling built from several separate tasks rather than a single lump sum.
The reward format matters more than the headline number. Some payouts land as fee-saver vouchers that only discount future trading fees. Others are credited as derivatives bonus balance, which can be used as margin for futures trades but is not withdrawable until it is actually traded through and converted into realized gains under Bybit's terms. Each welcome stage lets you choose your reward, and a smaller subset, such as the airdrops Bybit's promo page mentions for the deposit-and-trade step, lands in your account like your own assets and can be withdrawn once received. Vouchers and coupons carry expiry windows, typically 7 to 30 days, after which unclaimed value is forfeited.
Bybit blocks service to a published list of restricted jurisdictions, including the United States, mainland China, Hong Kong, Singapore, Canada and countries under international sanctions. Anyone in one of these markets cannot open an account or claim a reward regardless of what a referral link promises. The welcome gift event itself is also closed to residents of the EEA, the UK, Japan and a long list of other regions, even where Bybit accounts are available.
Every reward requires identity verification before it pays out. Bybit's basic level (government ID plus a selfie) is enough to unlock most Rewards Hub tasks; a second level adding proof of address raises withdrawal limits further. Verification is usually processed within minutes but can take up to 48 hours.
Check the reward's fine print before depositing: whether the payout is a spot credit, a fee-saver or a derivatives bonus, since only the first is straightforwardly withdrawable. Confirm the deposit and trade-volume thresholds, since many tasks require moving real money and executing a real trade rather than just registering. Note the expiry date on any voucher and use it before it lapses. And treat headline bonus figures as a maximum reachable only by clearing every task tier, not a guaranteed payout for signing up.
Bybit lost about $1.5 billion in Ethereum in a February 2025 attack on a cold wallet, the largest crypto exchange hack on record. It replenished reserves within roughly 72 hours using loans and market purchases and has said no user lost funds. The exchange has continued operating and expanding its regulatory footprint since, but the incident is a real data point on exchange custody risk, not just history.
Yes, in specific markets. Bybit holds provisional VASP approval from Dubai's VARA and a full Virtual Asset Platform Operator License from the UAE's SCA. Its EU entity, Bybit EU GmbH, holds a MiCA crypto-asset service provider license issued in Austria in May 2025, covering the EU and EEA. It is not licensed to serve US customers.
No. The United States is on Bybit's excluded-jurisdiction list along with mainland China, Hong Kong, Singapore, Canada and sanctioned countries. Residents of these markets cannot open an account, so any bonus offer does not apply to them.
Mostly not. Each welcome gift stage lets you choose a reward form, and fee-saver coupons, which only discount future trading fees, can never be withdrawn. Derivatives bonus credit can be used as futures margin but is not directly withdrawable either. Bybit's promo page says the deposit-and-trade step can pay airdrops, which its FAQ treats like your own assets, so check each reward's terms before assuming it is cash-equivalent.
Yes. Identity verification is a standard task in nearly every Rewards Hub bonus chain. Basic verification needs a government ID and a selfie and is usually processed within minutes, though it can take up to 48 hours.
Yes. Vouchers and coupons issued through the Rewards Hub typically expire 7 to 30 days after being credited. Unused value is forfeited after the deadline, so claimed rewards should be used promptly.