Bybit Launches AVAX Cashback Option for Seamless Crypto Spending
1min read Bybit, the world's second-largest cryptocurrency exchange by trading volume, has introduced a new feature for its Bybit Card users: the AVAX Cashback Option. This move comes as part of the exchange's ongoing efforts to expand its ecosystem and provide more flexibility to its users in their crypto payment journeys.
The AVAX Cashback Option allows Bybit Card users to earn AVAX, the native utility token of the Avalanche network, as cashback rewards on their daily spending using the Bybit Card. This new feature supports paying, saving, and HODLing with AVAX, providing users with a seamless on and off-ramp experience with the popular altcoin.
Avalanche is a high-performance blockchain platform designed for builders who need to scale. Its revolutionary three-part Layer 1 (L1) architecture, anchored by the Avalanche Consensus Mechanism, ensures near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchains with high throughput on both public and private networks.
To celebrate the launch of the AVAX Cashback Option, the Bybit Card is offering an AVAX-only perk for eligible users. They can toggle their AVAX default cashback option to get up to 10% cashback in AVAX for a limited time.
Joan Han, Sales and Marketing Director at Bybit, commented on the new feature: "Bybit and the Avalanche community are synchronized in our vision for a blockchain-enabled future that benefits all. Our efforts to increase adoption of scalable smart contracts and crypto as a digital asset class are building blocks of the digital economy. And with the Bybit Card, our customers can contribute to their favorite blockchains through simple daily spendings."
The Bybit Card offers an intuitive and rewarding way for believers in crypto to use, save, and potentially earn yield on their digital assets. Card holders can experience the entire customer journey online by applying for and starting to tap away as soon as they receive their approved virtual card. The crypto-native payment gateway also comes with year-round benefits, up to 8% APR on eligible holdings, and no-frills cashback mechanisms.
