As cryptocurrencies continue to integrate into our daily lives, more people are searching for simple and convenient ways to use digital assets in the real world. If you're one of them, my Bybit card review might provide the answers you're looking for (just note that it's not a Bybit credit card, as some call it; it's a debit card).
Beyond just offering convenience, the Bybit debit card is designed to provide safe and seamless access to your digital assets for everyday transactions. Plus, it comes with attractive perks that make your purchases even more rewarding.
If this has piqued your interest, let's take a closer look at its features, see how easy it is to use the Bybit card for daily shopping, and figure out if it's the best crypto debit card for you. So, let's get started!
Verdict at a glance: The Bybit card is a Mastercard-supported debit card that easily converts your digital assets into everyday spending power. Accepted by over 90 million merchants worldwide, the Bybit debit card combines security, flexibility, and a rewarding transaction experience, making it one of the best crypto debit cards on the market. While it doesn’t support a wide range of cryptocurrencies, it works smoothly with the Bybit ecosystem and offers enough versatility for most users.
Pros
- Exclusive loyalty rewards
- Supported by over 90 million Mastercard merchants around the world
- High spending limits
- Low fees
- Chance to earn interest with auto-savings
Cons
- Limited crypto support
Table of Contents
- 1. What is a Bybit Card?
- 2. Bybit Card Review: PROS
- 2.1. Widely Accepted All Over the World
- 2.2. Attractive Loyalty Rewards Program
- 2.3. Convenient Auto-Savings Feature
- 2.4. Robust Security Protocol
- 2.5. Seamless Crypto Off-Ramping
- 2.6. Multiple Card Choices
- 3. Bybit Card Review: CONS
- 3.1. Limited Crypto Asset Support
- 4. Bybit Card Limits and Fees
- 4.1. Bybit Card Limits
- 4.2. Bybit Card Associated Fees
- 5. How to Use Bybit Debit Card
- 5.1. How to Apply for Bybit Debit Card
- 5.2. How to Make Payment with a Bybit Debit Card
- 6. Conclusions
What is a Bybit Card?
To kick off my Bybit card review, let’s first address the key question: What exactly is the Bybit card?
Simply put, it's a debit card introduced by Bybit, a popular crypto exchange. With the Bybit debit card, you can easily manage your crypto funds and seamlessly use them for everyday transactions at over 90 million merchants worldwide, thanks to Mastercard support.
With this card, you can seamlessly connect your crypto and fiat currencies. Whether you prefer using a virtual or physical card, the Bybit debit card makes it easy to spend your crypto holdings, whether for online shopping, dining out, or withdrawing cash.
Another key feature I want to highlight in my Bybit card review is that it’s more than just a convenient payment tool. The card is designed to fully integrate crypto into your daily routine, offering access to your digital earnings from other Bybit financial products that you can spend in the real world.
So, the card offers a compelling combination of affordability and convenience. With no annual fees or dormancy charges, you can keep more of your valuable crypto with little to no maintenance. Plus, the its user-friendly dashboard and 24/7 multilingual customer support make it really simple to manage your crypto and fiat currencies.
Before we move to the next part, I want to clear up a common misunderstanding I see mentioned in some Bybit card reviews: sometimes users tend to call it the "Bybit credit card," but that's actually not accurate. The Bybit card works like a regular debit card, which means you're using your own money instead of a credit limit.
Bybit Card Review: PROS
Now that I've briefly covered the key points, let's dive further into my Bybit card review. As a crypto debit card, Bybit card offers more than easy access to spend your crypto in the real world. It also comes with extra perks that make it really convenient and rewarding to use, making it stand out from the rest. So, let's get into those.
Widely Accepted All Over the World
The Bybit card opens up a world of spending possibilities. Through its partnership with Mastercard, the largest financial network in the world, the Bybit card is accepted by more than 90 million merchants globally. Whether you're buying groceries, a cup of coffee, or subscribing to streaming services, the Bybit card allows you to spend your cryptocurrency easily.
Many user Bybit card reviews highlight this extensive reach as one of the best out there. It makes a very appealing choice for crypto enthusiasts looking to use their assets for everyday purchases—especially for those who love to travel. Just be sure to check beforehand if your destination is among the supported Bybit debit card countries.
The convenience of the Bybit card doesn't stop there! You can also integrate it with Google Pay and Apple Pay, unlocking even more flexibility in how you spend your cryptocurrencies. With these integrations, you get access to features like tap-to-pay, easy autofill, and a smoother checkout experience.
By adding your Bybit card to Google Pay or Apple Pay, you can leverage a modern payment solution that combines the convenience of digital transactions with the robust security features of these platforms. This makes everyday cryptocurrency spending easier and more flexible while ensuring that your transactions are safe.
Attractive Loyalty Rewards Program
The Bybit debit card comes with a neat loyalty program that rewards you with points every time you make a purchase with your crypto. These points can be saved up and later redeemed for attractive rewards and offers in Bybit’s rewards market.
The reward structure is pretty simple: you accumulate points based on your spending with Bybit. Your VIP level also affects the points you earn. The higher your VIP status, the more points you'll get, the higher your monthly point limit will be, and the better your cashback rate.
For instance, as a VIP 0 member, you'll earn 10 points per transaction with a monthly cap of 5,000 points, giving you a 2% equivalent cashback rate. However, if you're a Supreme VIP member, you'll get a 50-point multiplier, a monthly cap of 300,000 points, and a nice 10% cashback rate.
Under normal circumstances, you can usually expect to receive your reward points within three calendar days. Also, there’s no expiration date for your points, so you can keep accumulating them over time.
On top of that, Bybit also partners with various merchants to offer special rebates and extra perks. You'll get these merchant rebates credited to you monthly, which you can redeem in Bybit's rewards market using your points.
In addition to getting extra points from all transactions, VIP members can get a free Bybit physical card delivered within three days. It's not a huge perk, but it's still a nice bonus!
Before moving on with my Bybit card review, I also want to add that the rewards program is regularly updated to make sure users get rewards and bonuses that match their spending habits.
Overall, I think that Bybit really offers a solid rewards program that adds value to crypto transactions and encourages you to make the most of their digital assets.
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Convenient Auto-Savings Feature
Another useful feature that should be noted in any Bybit card review is the auto-savings function. Available directly from the Bybit card dashboard, you can earn interest on your idle assets and still have instant access to your funds. It's a nice method to make your crypto work for you without giving up the flexibility to use it whenever you need to.
When you enable auto-savings, the system takes a snapshot of your balance and automatically moves idle funds to flexible savings daily. If your balance falls outside certain limits, the system won't allocate the funds that day, but they'll remain available for future attempts. This automated process makes sure your funds are always optimized for earning interest without needing constant management.
And the best thing is that you can still use those assets for everyday transactions with your card whenever you want. The system is designed to seamlessly redeem the necessary amount from flexible savings to cover your purchases.
The auto-savings feature is also highly customizable based on your preferences. You can choose which coins you want to include, depending on your saving strategy.
For instance, if you want to keep certain assets available for leveraged trading, you can easily exclude those from auto-savings. This level of control allows you to plan effectively while ensuring your idle assets are working for you.
Plus, you can boost your earnings further by enabling the auto-deduction function to ensure your flexible savings benefit from compounding interest.
Overall, I find the auto-savings to be a really nice addition, especially for those looking to maximize the potential of their crypto holdings while keeping things simple. It's an excellent feature that many user Bybit card reviews praise, as it allows you to put your idle assets to work while still having the flexibility to redeem and spend them when needed.
Robust Security Protocol
When it comes to managing your digital assets, keeping them safe is always paramount. Bybit takes this seriously and has put in place several strong security measures to make sure your funds stay secure.
The Bybit crypto card is backed by Mastercard, a leader in global payment solutions and well-known for its strict security standards. This partnership means that every transaction you make with your Bybit crypto debit card is protected by cutting-edge technology designed to keep your funds and information safe.
One of the technologies is its EMV 3D secure-enabled protection. This security feature helps verify a cardholder’s identity during transactions where neither the card nor the cardholder is physically present[1].
EMV 3D technology adds an extra layer of security, especially for preventing fraud during online transactions. With this enhanced protection, you can shop with confidence, knowing that your Bybit card offers strong security against fraudsters.
You can also temporarily freeze your Bybit card directly from the management page. This feature is handy if you're not planning to use the card for a while. Freezing the card will put a stop to all transactions until you're ready to use it again. When you're ready, you can easily reactivate it by completing a quick security verification process. After that, your card will be good to go!
On top of that, Bybit strongly supports and encourages setting up two-factor authentication (2FA) as soon as you log into your account. This extra step provides extra security and makes it much harder for anyone else to access your account, even if they somehow get your password[2].
Additionally, you can set up an anti-phishing code that appears in all official Bybit emails. This feature helps you quickly check whether the email is real or if it's a potential phishing attempt. If the code doesn’t match or is missing, it’s a sign not to interact with the email.
With these safeguards in place, you can confidently manage or spend your crypto assets, making it a standout aspect in most Bybit card reviews.
Seamless Crypto Off-Ramping
Bybit debit card effortlessly allows you to convert your crypto earnings into spendable cash. If you're really into crypto trading, you know how important it is to have a quick and smooth way to cash out your digital assets.
Bybit offers various trading and earning products, including spot trading, derivatives, and staking, so there are tons of opportunities to grow your crypto portfolio. The tricky part has always been converting those assets into regular money when you want to use it.
By utilizing the Bybit crypto card, you can easily convert your crypto earnings into fiat currency and seamlessly use them for your daily transactions. Whether you're using your funds to pay bills, shop online, or withdraw cash from an ATM, the Bybit card streamlines the entire process.
Here's how it works: Your Bybit debit card is linked to your funding account, where your earnings from trading and other activities on the platform are stored. When you use your card to make a payment, the funds are automatically deducted from your balance.
If your available balance doesn’t fully cover the payment, the system will instantly convert the necessary amount of crypto into fiat currency to complete the transaction. This automatic conversion happens in real time, so you don't have to worry about manually selling your crypto beforehand.
I find this seamless off-ramping feature to be one of the standout highlights in my Bybit card review. This feature does an excellent job of connecting the world of cryptocurrency with real-life use in a smooth and effortless way.
This seamless function is especially useful for those regularly earning through Bybit's range of products. Instead of juggling funds between different platforms or dealing with slow conversion processes, the Bybit card allows instant access to your crypto earnings, so you can spend them whenever and wherever you want.
Multiple Card Choices
One more thing I'd like to point out is how versatile it is. Bybit offers several card options to cater to various user preferences and needs. Whether you’re more focused on making quick online transactions or prefer having a physical card for in-store payments, Bybit has you covered with both virtual and physical card choices.
If you're someone who prefers to shop online, the Bybit virtual card is ideal for you. Once your application is approved, you can start making payments immediately without waiting for a physical card to arrive.
On the other hand, if you're more into the traditional feel of a debit card, the Bybit physical card is an attractive choice. It offers all the benefits of the virtual version, plus the ability to make contactless payments at retail stores using POS terminals. It's ideal for those who enjoy the option of paying with a tap or swiping at an ATM.
Bybit also offers a streamlined entry point with its virtual card lite. This version is designed for those who want a quick and easy way to interact with the platform ecosystem.
The virtual card lite is different because it doesn't require you to complete the proof-of-address verification process, making it easily accessible. However, it does come with a lifetime spending limit, which applies to both fiat and crypto transactions.
If you need more flexibility, upgrading to the standard virtual card is simple—all you need to do is complete the address verification, and your spending limit increases while your card number stays the same.
Even though the virtual card lite is limited in terms of spending power, additional features, and supported currencies, it's a handy option for those who want an easy introduction to the Bybit card and its platform.
To wrap up the pros section of my Bybit card review, I think it's one of the best crypto debit cards out there. It comes with a variety of useful features that make using cryptocurrency in your daily life really easy. If you want a secure, flexible, and rewarding purchasing experience, the Bybit card is definitely worth considering.
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Bybit Card Review: CONS
After highlighting what the card does best, it’s only fair to consider its limitations. So, next in this Bybit card review, let’s discuss the aspect where the card may fall short for some people.
Limited Crypto Asset Support
While the Bybit Card offers many attractive features, one notable limitation is the restricted range of supported cryptocurrencies. As of writing, the card only works with a few cryptocurrencies, including:
By the way, the support differs based on your country of residence, so not all card holders will get the same access. Although these are some of the most popular and widely used cryptos, it could be a bit of a bummer if you hold other digital assets.
If you don’t already have one of the supported currencies, you’ll need to convert your crypto to one of these options before using your Bybit crypto card. This extra step might be a bit of a hassle and could result in additional exchange fees, especially if you frequently deal in a wider variety of altcoins.
On the plus side, Bybit does offer flexibility in managing your supported assets. You can choose up to eight payment currencies and customize the order in which they’re used.
By default, the card prioritizes USDT, followed by USDC, MNT, and other options like BTC and ETH. However, you can adjust these preferences based on your spending habits, allowing for some optimization despite the limited asset selection.
All in all, the Bybit debit card’s limited crypto asset support might be a drawback for those seeking broader flexibility. However, if you primarily use the most common and widely accepted cryptocurrencies, this limitation shouldn’t be a major concern.
Bybit Card Limits and Fees
Now that I’ve covered the pros and cons in this Bybit card review, let's examine some other important points, namely its limits and fees.
Bybit Card Limits
The standard virtual and physical cards allow you to spend up to 5,000 EUR/GBP per transaction, with daily, monthly, and annual caps of 5,000 EUR/GBP, 50,000 EUR/GBP, and 250,000 EUR/GBP, respectively. I find these limits to be quite generous, offering flexibility for both large transactions and everyday purchases.
Now, if you opt for the virtual card lite, it only comes with a lifetime spending cap of 150 EUR. While this may be enough for smaller transactions, you also can easily upgrade to the standard card for more spending power.
For physical card users, there are specific ATM withdrawal limits to keep in mind. In a 24-hour period, you can make up to 10 withdrawals, totaling 2,000 EUR/GBP (600 USD). Over a month, you can make up to 300 withdrawals, with a total value cap of 10,000 EUR/GBP (1,800 USD).
Per Transaction | Daily | Monthly | Annually | |
EEA and CH | 5,000 EUR/GBP | 5,000 EUR/GBP | 50,000 EUR/GBP | 250,000 EUR/GBP |
Australia | 13,500 USD | 13,500 USD | 27,000 USD | 270,000 USD |
Argentina | 1,000 USD | 5,000 USD | 10,000 USD | 50,000 USD |
Table: Bybit card limits.
If you prefer using cash frequently, the annual limit allows up to 2,500 ATM withdrawals, with a total value of 70,000 EUR/GBP (13,500 USD). I think these limits provide plenty of flexibility for both occasional and regular cash users.
Unfortunately, Bybit card limits can't be adjusted, but they should be more than enough for most users' transaction needs.
Bybit Card Associated Fees
When it comes to fees, the Bybit debit card does a great job of keeping things simple and transparent.
I really like that there are no annual fees, inactivity charges, or card cancellation fees. This makes the card super cost-effective for anyone who wants to use their digital assets in real-world transactions.
Also, there's no card issuance fee to worry about if you're using the virtual card. However, for the physical card, there's a small issuance fee of 5 EUR/GBP/USDT, depending on your location. So, make sure to check the fee structure for Bybit debit card countries you're interested in for more details.
As with most crypto debit cards, however, there are a few fees you should keep in mind, especially when dealing with foreign transactions or crypto conversions.
If you’re making a purchase in a currency different from what your card is set to, a foreign exchange fee applies. For EEA countries, this fee is 0.5%, while in Australia, it’s 1%, and in Argentina, it jumps to 7%. This fee is added on top of Mastercard’s standard foreign exchange rate.
Also, if you don't have enough fiat in your funding account to cover a purchase, Bybit's system will automatically convert your selected crypto into fiat. This conversion incurs a 0.9% fee plus the exchange rate, so keep that in mind before making any transaction.
Another thing to consider is the ATM withdrawal fees. You can withdraw up to 100 EUR/GBP per month for free, but any amount beyond that is subject to a 2% fee. Also, ATMs may charge access fees or offer currency conversion options, so it's a good idea to double-check before proceeding.
Overall, I find Bybit card limits and fees to be quite competitive in the market. This structure makes it quite attractive for both casual users and those with larger transactional needs.
How to Use Bybit Debit Card
If my Bybit card review piqued your interest, the next step is to apply for the card and make your first crypto payment. The process is quite easy, but there are a few things you should keep in mind before you start.
How to Apply for Bybit Debit Card
Submitting for a Bybit debit card is a pretty simple process, but it's important to know that it's only available to residents in certain regions. So, be sure to check whether your location is among the supported Bybit card countries before proceeding.
As of writing, you can apply for a Bybit card if you live in Argentina, Australia, Brazil , Switzerland, AIFC and EEA areas (excluding Croatia, Iceland, Ireland, Liechtenstein, and Romania).
If you don’t reside in one of these supported countries, don’t worry—you can still express your interest! As the platform continues to grow, the number of supported Bybit card countries is expected to increase, and Bybit will notify you once the card becomes available in your region.
Now, to kick off your application, you’ll first need to ensure that you meet the eligibility criteria by preparing proof of identity and proof of residence. The accepted documents include a national ID, passport, or other government-issued identification. In some cases, you may need to provide two forms of ID.
Once your documents are ready, follow these steps to apply:
Step 1: Visit the official Bybit page, log in to your account, go to the "Finance" tab, and select the [Card] option from the list. Then, click [Apply Now] to start the process.
Step 2: Select your place of residence from the list of supported Bybit debit card countries and click [Confirm].
Step 3: Start the verification process by submitting your proof of identity and clicking [Verify].
Step 4: Complete the proof of address verification and click [Verify]
Step 5: Confirm your email address and, if you haven’t already, set up 2FA for added security. You can also enter a referral code if you have one. Once everything is done, click [Submit] to finalize your application.
Now, all that's left to do is wait for Bybit to review your application. The process is usually quick, often taking just a few minutes, although in some cases, it might take up to seven business days.
Once your application is approved, you'll receive an email notification, and your Bybit card will be ready to use!
How to Make Payment with a Bybit Debit Card
Using your Bybit debit card for online payments is straightforward. Here, let me show you how to complete transactions with your Bybit virtual or virtual lite card:
Step 1: Get your virtual card details (card number, CVV, and expiry date) from the card dashboard in your Bybit account.
Step 2: At checkout, enter your Bybit card details on any website that accepts Mastercard payments.
Step 3: Some merchants might need you to verify your transaction. If asked, just confirm the payment through the Bybit app. Don't forget to turn on notifications for the app so you don't miss this step.
Step 4: Before you click [Pay], make sure to double-check the transaction amount. If you have biometric verification set up, use it to confirm the payment. If not, just enter the one-time password (OTP) and answer security questions. Finally, click [Done] to complete the verification.
Step 5: Once the transaction is authenticated, go back to the merchant’s website to finish the payment.
If the payment goes through, the amount will be temporarily held in your funding account and marked as pending. Usually, the transaction gets processed within a day, but it might take up to 30 days for full authorization in some cases. Once the merchant finalizes the transaction, the amount will be deducted from the frozen funds and applied to your payment.
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Conclusions
To wrap up my Bybit card review, I can say that the Bybit debit card is a great choice for integrating your digital assets into the real world. It offers global acceptance, robust security features, and appealing rewards, making it convenient and rewarding to use your crypto anywhere in the world.
While it may not support as many cryptocurrencies as some other cards, it's still a really flexible option and integrates seamlessly with the Bybit ecosystem. Plus, it has zero inactivity fees and generous spending limits, which is really handy for large crypto spenders.
Whether you're an active crypto user or just like to dabble in it, the Bybit card offers various benefits for day-to-day spending and is rightfully considered one of the top crypto debit card options available.
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
Scientific References
1. K. Watanabe, K. Yoneyama: 'Formal verification of challenge flow in EMV 3-D secure';
2. G. Ali, M. A. Dida, A. E. Sam: 'Two-factor authentication scheme for mobile money: A review of threat models and countermeasures'.