To start earning cryptocurrency on Bybit the first step is to create an account. The process is straightforward; sign up complete your KYC verification (Know Your Customer) and make a deposit. Once your account is confirmed you can explore the ways Bybit offers to earn cryptocurrency without any procedures.
How to sign up and start using Bybit
Follow these steps to get started
- Create an Account: Go to the signup page and register
- Complete KYC: This part involves verifying your identity by submitting documents like your ID card or passport. It’s an important step to ensure security.
- Make a Deposit: You can deposit funds through different methods, but one of the easiest ways, especially for new users, is to use Bybit’s P2P (peer-to-peer) system. Here’s how you can deposit via P2P.
How to deposit using Bybit P2P
- Visit the Bybit P2P page.
- Choose the cryptocurrency you want to buy, like USDT, and select a seller.
- You will be given payment options (like bank transfer or other payment methods).
- After making the payment, the seller will release the crypto to your Bybit wallet.
Once your deposit is in, you can start earning free crypto on Bybit. The good news is that there are several ways to do this, and they don’t require you to spend your deposited money, just to use it smartly.
Ways to earn free crypto money on Bybit
Here are ways you can achieve this:
1. Bybit Savings
Bybit Savings is one of the easiest ways to make extra crypto without doing much at all. It works like this: you deposit your crypto into Bybit’s savings program, and in return, you earn interest on it.
Imagine this: You deposit $100 in USDT into Bybit Savings. Over time, this money generates interest just like a traditional bank savings account but in crypto. Your money stays safe and intact—you can withdraw it whenever you want. But in the meantime, you’re making more money off it. It’s a great way to grow your crypto and make money.
The good thing is that Bybit offers better interest rates than banks. And your money is protected against inflation. You can use UDST which is like the US dollars in crypto, that way, even if your local currency is going down against the dollar, your money is protected.
Bybit Savings offers both flexible and fixed terms. Flexible savings let you withdraw your funds at any time, while fixed-term savings lock your money in for a set period in exchange for higher interest rates.
Here’s an illustration: Let’s say you have 1,000 USDT sitting in your Bybit wallet. If you put that into a fixed-term savings plan for 30 days at an annual interest rate of 10%, you’ll earn around 8.3 USDT after 30 days (since it’s prorated for the 30 days). And remember, your initial 1,000 USDT remains untouched.
It’s like putting your money to work for you, all without having to trade or take on extra risk.
You can learn more and sign up for Bybit Savings here.
2. Bybit Launchpool
Bybit Launchpool is another way to make free crypto. It works by allowing users to stake their existing coins, like USDT or BIT, into pools where new cryptocurrencies are being launched.
Think of it like farming but instead of crops, you’re earning new tokens. The best part? You don’t lose your original crypto. You stake it temporarily, and in exchange, you get new tokens as a reward.
Let’s break it down: Say you have 500 USDT sitting idle in your account. By participating in a Bybit Launchpool, you can stake that USDT into a project that’s launching a new cryptocurrency. Over time, you’ll accumulate new tokens from that project. Once the staking period ends, you get back your original 500 USDT, plus however many new tokens you earned during the launch period.
Here’s an illustration: You deposit 1,000 USDT into the Bybit Launchpool for a new project launching a coin called XYZ. Over a few weeks, based on the staking rewards rate, you earn 200 XYZ tokens. Once the period is over, you get your 1,000 USDT back, along with the 200 XYZ tokens, which you can then keep, sell, or trade.
It’s a win-win because you don’t risk your initial deposit while having a chance to get in on promising new projects early.
Learn more about how Launchpool works and see active projects here.
3. Airdrops
Airdrops are one of the most popular ways to get free crypto in the industry. They work by distributing free tokens to users, often for just holding certain coins, completing simple tasks, or even just signing up for a platform.
Bybit runs various airdrop campaigns throughout the year. These usually involve giving away crypto to users as part of promotions or partnerships. For example, you might receive an airdrop of a new token simply because you participated in a specific event or held a certain amount of a particular cryptocurrency.
Here’s how it might look: Imagine holding 500 USDT in your Bybit wallet. One day, Bybit runs an airdrop campaign for a new token called ABC. Simply because you’re holding USDT in your account, you qualify for the airdrop and receive 100 ABC tokens for free.
These airdrops don’t cost you anything. You get free tokens just for being a user, which you can either hold onto in the hope that their value will increase or sell for a quick profit.
4. Bybit Referral Program
Another simple way to earn free crypto on Bybit is through their referral program. This method rewards you for referring your friends to Bybit. It’s straightforward: you invite someone to sign up using your unique referral link. When they register and complete their first trade, both of you get a bonus in crypto.
Let’s break it down: You share your referral link with a friend, who then signs up and deposits $100 into their Bybit account. Once they make their first trade, you might receive, say, $20 in BTC or USDT as a thank-you from Bybit.
This is a no-brainer if you have friends or family interested in crypto. You help them get started, and in return, you both benefit from free rewards.
5. Bybit Trading Competitions
Bybit regularly hosts trading competitions where users can win large amounts of crypto. These competitions range from team events to individual challenges, and the rewards can be huge, sometimes even in the six-figure range.
You don’t necessarily need to be a professional trader to participate. Some competitions have lower thresholds, meaning even casual traders can join in the fun and potentially win.
Conclusion
Bybit offers numerous ways to earn free crypto without requiring users to risk their initial investment. Whether it’s through Bybit Savings, Launchpool, airdrops, referrals, or trading competitions, there’s something for everyone. Each method leverages different strategies, from passive savings to active trading, but the end goal remains the same: increasing your crypto holdings at no cost to you.
By simply taking advantage of what’s already available, you can grow your crypto portfolio in ways that are both easy and, most importantly, free.
