Bybit Exchange offers new users a lot of money through its Deposit Bonus Campaigns. In this article, we’ll dive into the specifics of these deposit bonuses and answer the most common questions about e.g. why Bybit is offering these bonuses, how to claim them, if you can withdraw the bonus, and many more questions. We’ll even dive into the calculations of the trading fees coming along with getting these bonuses. Let's jump in! 

 

How to get Bybit Deposit Bonus? 

It’s only possible to get the ($30.000) deposit bonus if you sign up through an affiliate link.

Bybit Exchange Affiliate link: https://partner.bybit.com/b/whaleportal

On the right side of the sign-up page you will see the total amount of deposit bonuses you can get. You can get a bonus of up to $30.020. 

How to claim the Deposit Bonus?

To claim your deposit bonus you’ll need to go to the “rewards” section, find the $30.000 deposit bonus, and click on participate. Afterwards, you’ll need to make the qualifying deposit and meet the required trading volume. 

 

In the rewards section on Bybit you can find all the promotions that are currently available. 

Next to the $30.000 deposit bonus, new users can get a free $20 welcome gift. Take in mind, that all these promotions are only available with an affiliate link. 

 

Where to find the deposit bonus? 

Once you’ve met the deposit requirements and the required trading volume, the deposit bonus will appear in your asset page at the derivative section under “bonus”.

Why Bybit offer a Deposit Bonus? 

The most important aspect of an exchange is liquidity. Traders most often go to the exchange that has the most liquidity to have a better and safer trading experience. Bybit wants to incentivize new users to trade on their platform, while onboarding new users the liquidity on the platform increases and therefor more and more people choose to trade on Bybit. It’s a very smart marketing trick to get new traders on the platform while increasing the trader's experience. 

 

Trading Fees Calculated 

The trading volume calculated for the deposit bonus is the taker trading volume. Taker volume is the trading volume from market orders. A market order is an order that will be executed immediately at the best available market price. Generally, the trading fees are higher for market orders as you are “taking” liquidity out of the order. The trading fees on Bybit for market orders are 0.06%. 

So, let’s have a look at the calculations. In specific we look at how much fees you pay when reaching the required trading volume to receive the deposit bonus. 

In the graph above you can see that the amount of bonus you receive is higher than the amount of fees you’ll have to pay to reach the threshold. However, when we go up in the bonus numbers, the fees are also going up. 

So here we can see that the last bonus that is higher than the trading fees is $800. This is not completely valid as Bybit has a VIP program that changes this metric, let’s have a look. 

 

Bybit VIP Program 

The Bybit VIP program is a program offering lower fees to traders with high amounts of trading volume. So the more trading volume you generate, the lower the fees that you’ll need to pay for your trades. Again, another incentive for traders to increase their trading volume. Let’s have a look at this Bybit VIP program fee structure. 

 

If you, for example, have a higher trading volume than 25 million in the past 30 days, your taker fees will almost be cut in half, saving you a significant amount of money. Now let’s consider the VIP program when calculating the fees again linked with specific deposit bonuses. 

 

Bybit Bonus Fees Calculated

On the graph above you can see the fees clearly decreased, but what we also notice is that still some bonus levels require more fees than what you actually receive in bonus. So you could say you get a significant discount on your fees using the bonus. 

The bonus, where you will get the most “free money” is the 10 million trading volume bonus. The fees that you will pay will be around $4.000 and the bonus that you will receive will be $5.000. That is a free $1.000 and of course, the luxury to trade only using market orders. 

 

Can you withdraw the deposit bonus?

No, you can not withdraw the deposit bonus, however, any profits that you make with this bonus can be withdrawn directly. 

 

Does Bybit offer free money as well? 

There are some ways to get free money from Bybit without having to deposit anything or generate a specific trading volume. Just by signing up, and verifying your account, you can get a free $20. This is only possible through an affiliate link. 
 

Bybit also offers an affiliate program. This means that if you refer traders to the platform and they trade, you can earn a commission on the fees that they pay. This is also a free way to earn money from Bybit. 

 

Conclusion

Many traders are talking about the huge Bybit deposit bonuses, although it is very generous of Bybit to offer these bonuses, they are not all completely free as the traders need to meet certain deposit and trading volume requirements. If your trading volume is 10 million USD or lower, you get free money from Bybit but if your trading volume exceeds 10 million, you pay more in trading fees than the bonus that you receive. So consider it a discount on your fees. 
 

If you want to get $30.020 in bonuses on Bybit, make sure to create an account on Bybit here.