Bybit launches “Balance Booster” yield offerings

Quick Take

  • Crypto exchange Bybit rolls out the Balance Booster event, allowing traders to select from different sets of BTC and USDT APY (annual percentage yield) vouchers 
  • Traders can earn up to 6% annualized interest for BTC yield vouchers and 15% for USDT vouchers 
  • The event spans across six phases from 8:00AM UTC on April 15, 2021 to 8:00AM UTC on June 17, 2021

Crypto exchange Bybit today announced the launch of BalanceX, the first of its series of Balance Booster events, giving traders opportunities to generate risk-free annualized yield on their trading account’s wallet balance.

Flexible Terms, Maximum Returns

Bybit will release limited quantities yield vouchers of 7-, 14- and 28-day options in six separate phases. Traders can subscribe to vouchers on a first come, first served basis up to 24 hours before the start of each phrase, and hold up to one active yield voucher at a time. The maximum subscription amount is 0.25 for BTC vouchers and 10,000 for USDT vouchers.    

The wallet balance used to claim yield vouchers will not be locked away and can still be used as margin. Traders can continue to trade and withdraw with zero disruption. If a trader’s daily average wallet balance falls below an active voucher’s subscription amount, however, the voucher will be forfeited. More information can be found on Bybit’s Balance Booster event page

Surfing the Crypto Waves

As retail and institutional confidence in the crypto markets continues to surge, Bybit has registered substantial growth over the past six months. The crypto exchange recently surpassed the Chicago Mercantile Exchange (CME) to become the world’s second-largest Bitcoin futures trading platform by open interest. Its 24-hour BTC trading volume reached as high as $27 billion this year. 

“As a client-centric exchange, we are always looking for ways to deliver more value to the traders using our services,” said Ben Zhou, co-founder and CEO of Bybit. “We are excited to roll out ‘Balance Booster’ and help clients earn more on their crypto assets under any market condition.”

Newly joined traders can receive up to $600 in bonuses by hitting simple milestones on Bybit. More information can be found on the exchange’s Rewards Hub.