Bybit is becoming a crypto bank and is no longer just a platform to trade, invest or earn interest on your ideal crypto-assets.
Bybit, a popular crypto exchange headquartered in Dubai, UAE , recently launched a crypto debit card called “Bybit card,” From the look of it, it seems quite interesting.
In this guide, I will share everything you need to know about Bybit Debit cards, so you don’t have to spend time searching online for information.
A little background :
A few years back, it was a dream to spend your cryptocurrencies using a debit card. Services like Bitrefill flourished as they allowed users to spend their crypto using gift cards, and later a few of the crypto companies started offering crypto debit cards.
As the cryptocurrency world is becoming less unregulated, companies like VISA, and Mastercard are partnering with crypto service providers to offer debit cards, which can be used to spend their cryptocurrencies.
This is a huge development and something you should keep an eye on. In this guide, I will share vital information about the Bybit debit card, and everything you need to know to order your debit card from Bybit exchange.
Once you have fulfilled all the qualifications, you can apply for a Bybit debit card. However, before you do that, let’s understand all the features of the Bybit debit card and its associated fees.
Supported fiat currencies: EUR and GBP
Supported crypto: BTC, ETH, XRP, USDT and USDC
Fees is something you should keep in mind before you start swiping your card.
Here are all the fees associated with this card –
– Foreign exchange fee: 0.5% (on top of Mastercard’s foreign exchange rate)
– Crypto liquidation fee: 0.9% (on top of Spot fees)
– Annual fee: None
– Dormancy/Inactivity fee: None
– Card cancellation: None
– Card reissuance: None for virtual Bybit Card
And wondering how much can you spend using Bybit debit card?
Do note – Think of your Bybit card verification as a separate to your Bybit account. You may be asked to do verification again based on your usage.
If it all sounds good, here is how you can apply for Bybit debit card.
Follow the on-screen instructions, and submit your application. Once approved, you should be able to use the virtual debit card immediately. There is no need to activate your Bybit Card for overseas transactions separately.
Fine points –
Bybit is one of many exchanges to launch a debit card, as exchanges like Binance and Coinbase also offer a debit card. However, as Bybit is gaining popularity, and attracting a whole new user base, offers like a crypto debit card will help users to be able to spend their crypto.
I want these debit cards to be available to more countries, such as the Middle East, Asia, and Africa, where needed. However, for now, we only need to wait and watch. And if you are from one of the crypto debit card-supported countries, enjoy the newest offering from Bybit.
Also, if you are new to Bybit, do check out our recent free Bybit training video:News appeared first on: Coinsutra.com