In this article, we will tell you all about the welcome bonus from Bybit and what Bybit is.

Bybit is one of the most popular international crypto exchanges in the world, mainly due to its low costs (maximum 0.10%), large selection of coins (700+), and the high amount of trading tools offered by the platform. Bybit offers spot trading, futures trading, options, earn, launchpools, web3 wallets, Copy Trading and much more. Please note that not all services might be active in your country.

The headquarters of Bybit is located in Dubai (before it was Singapore) and they try to comply with all jurisdictions in every country. They often offer trading competitions for their users and Bybit sponsors the Redd Bull racing team.

With the Bybit referral code: 40DOLLAR, you will get 20 or 40 USDT, 10% discount, and various trading bonuses up to $30,000. We will explain everything in this article.

Overview of the welcome bonus with the Bybit referral code

Referral code	40DOLLAR
Link to Bybit	https://partner.bybit.com/b/40dollar
Welcome bonus	Get free 20 dollars or 40 dollars (in USDT)
Fee discount	10% discount on trading fees (valid for 1 month)
Rewards Hub (trading bonus)	Trading bonuses up to $30,000 (note: can only be used for fees)
Number of coins	700+

What is a Bybit referral code?

The Bybit referral code is a special and unique code that you can use on the Bybit crypto exchange for extra sipg-up bonuses (which you won’t get without the code). In this article, we explain the different exclusive bonuses that Bybit offers.

During your registration on Bybit, you can enter the referral code “40DOLLAR”. With this code, you get a 10% discount on trading fees, up to 40 USDT in crypto credit, and the opportunity to claim up to $30,000.

Using a referral code allows Bybit to track who invited who on the platform, so they can award the correct welcome bonus. Also, we often receive a commission when you use this code. But remember, without using a referral, you will not receive the free $40 and the 10% discount on trading fees. As these are exclusive promotions not offered by all partners.

After creating an account, you will also get your own code, which can share with your environment. Bybit has launched the referral program to attract new customers. If you are satisfied with Bybit, you can recommend it to your friend and also send new users to the platform.

How to apply the referral code?

Using a referral code is easy, but you must be careful when you enter the code. Follow the steps below to apply the code and claim your exclusive sign-up bonuses.

Step 1: Create a new account with a code

To be eligible for the bonuses, it is mandatory to use a partner link or an invite code. Note, the bonus may vary depending on the link or code. We clearly show which bonuses you will receive, which is also verifiable on the Bybit.com site.

Visit the website and enter your email address or phone number to create an account. Use the referral code “40DOLLAR” during this process to activate the bonus. When you enter this code, the field turns green and you see the notification that you get 10% off trading fees for 30 days.

Click ‘Create Account’ to claim the bonus. The 10% discount on transaction fees will be activated directly for 1 month.

Step 2: Do the KYC

After you have verified your email address or phone number, you can start start your crypto journey. Bybit complies with regulations in many countries, which often makes KYC mandatory. It is mandatory to complete at least KYC Level 1 to get the bonus.

The KYC process is simple and can be done with your smartphone. Often it doesn’t take longer than 3 minutes.

Step 3: Deposit crypto or fiat

With the code mentioned on this page, you can receive a free $20 or $40 in USDT. That’s a nice bonus, but of course, you don’t get it just like that. For the 20 USDT, you must deposit at least $100 and for the 40 USDT you need to deposit at least $400. It doesn’t matter whether this is in crypto or fiat.

You can deposit in crypto (by transferring crypto to Bybit) or in fiat using their offered payment methods like PayPal, credit card or bank transfer. At the end of the month, you receive your $20 or $40.

Step 3: Get trading bonuses via the Rewards Hub

The last bonus can be claimed in the Rewards Hub. These bonuses are available to everyone, even if you already have an account and never used a referral code. It is not an exclusive deal. The goal of Bybit is mainly to introduce you to the platform with tasks like placing your first trade or making a deposit. Make sure to claim the trading bonus before you perform it.

It’s important to know that the bonuses are not withdrawable and can only be used to pay fees. The $20 or $40 welcome bonus is withdrawable.

How does the free $20 or $40 in crypto work?

The free 20 dollars or 40 dollars in crypto is an exclusive bonus from Bybit that not all partners can offer. Therefore, always make sure that the code you use has this bonus. It’s a pity if you use a code that doesn’t give you free USDT.

Read the following steps to ensure you get the bonus:

1. Create an account with the correct code
2. Verify your account to Level 1. This takes 3 minutes
   • Make a deposit of $100 in fiat or crypto and receive 20 USDT
   • Make a deposit of $400 in fiat or crypto and receive 40 USDT
3. Wait until the end of the month to have the bonus deposited

You are allowed spread the deposit over several transactions. At the end of the month, a staff member will check how much has been deposited in total and whether you are entitled to 20 or 40 dollars. Keep in mind that the amount in fiat is converted to dollars.

10% discount on trading fees

Bybit offers very low trading fees in the crypto market. If we compare this with Bitvavo (0.25%), they offer over 50% lower fees. Despite these low costs, we have negotiated a deal with Bybit, which gives you an extra 10% discount on all trading fees. This discount is valid for a full month and is immediately applied after registration. You don’t have to do anything for this. You can also verify this bonus during your registration.

At Bybit, you pay a fee per transaction like at any other exchange. You pay this after every trade and it is a percentage of the transaction value. 10% will be automatically deducted from this transaction by Bybit.

Bybit does not offer the possibility for commission sharing, like MEXC does. If they offer this in the future, we will of course apply it immediately.

$30,000 trading bonus via Rewards Hub

As last, you can claim a $30,000 trading bonus via the Rewards Hub, which in our opinion is more of a lure than really lucrative. This is available to every user and it doesn’t matter how long you have had an account. If you trade a lot on Bybit, this may be interesting for you, otherwise not really.

You can claim the trading bonuses by performing small tasks. Like completing the KYC (same as being eligible for the $20 bonus), placing your first trade, making a deposit, or after reaching a certain trading volume. In the image below, you can see what kind of deposits and volumes you need to think about. These are substantial amounts and interesting not for everyone.

Also good to know is that the amounts you see as a bonus can only be used to pay fees on the platform. Lucrative if you trade a lot, but not interesting if you don’t trade that often.

What is Bybit and why use this platform?

Bybit is responsible for a significant part of the global crypto trading volume generated by more than 27 million users worldwide. The company, headquartered in Dubai, tries to comply with every regulation and succeeds quite well. This is why some services might be unavailable to you.

Bybit offers more than 700 different coins and many crypto services, like Earn, launchpools, Copy Trading and a Bybit debit card.

Advantages of Bybit:

• Bybit tries to comply with every regulation.
• Offers low-cost fiat transfers.
• Has other fiat pairs than only dollar.
• Bybit has never been hacked
• Very low trading costs of 0.10%
• Large selection of more than 700 coins with euro and dollar pairs
• Web3 wallet

Of course, Bybit also has disadvantages:

• Bybit does not have phone support.
• Only English support.
• Some services are disabled in some countries.

Conclusion

Bybit is a top platform for crypto trading and has built a very good reputation. They really show that they want to comply with different regulations. They are not active in some countries, like Germany.

Bybit offers very low costs (max 0.10%), a large offer of cryptos, and a stable platform. They also offer a wide range of services, like futures trading, options trading, launchpools, copy trading, crypto debit cards and way more. But please check if this service is available in your country.

If you want to trade at low costs on a fast and stable platform, then Bybit might be the go-to exchange for you. Additionally, you can start with a welcome bonus up to $40 and 10% extra discount on trading fees.