Crypto exchange Bybit has launched credit and debit card payments, allowing its users to buy crypto directly with their credit or debit cards using fiat currencies.
According to a press release, the service will make buying crypto as simple as making any purchase, such as books and clothes, online. Users can simply enter their details, agree to a quoted price, and pay via the Visa or Mastercard system. Bybit supports a range of fiat currencies, including the euro, U.S. dollar, and pound sterling, and the service will be available to any eligible user with a Bybit account.
“Bybit users can now easily buy crypto assets such as Bitcoin, collect NFTs on our marketplace, or deploy their capital in other ways to reach their personal financial goals,” Ben Zhou, co-founder and CEO of Bybit, said in the announcement. “This integration brings next-level convenience, so users can access world-class liquidity and reliability offered by Bybit.”
Moreover, Bybit has also waived fees on credit and debit card purchases for customers from the European Economic Area and the UK until May 17, 2022. After this period, customers who purchase crypto on Bybit through the integration will enjoy some of the lowest fees for this kind of service in the industry, starting at 1.1% for purchases made from the EU.
Recently, Bybit also announced the launch of leveraged token products on its spot exchange, starting with two Bitcoin leveraged tokens, BTC3L and BTC3S.
These leveraged tokens are short-term investment products that let traders reap the benefits of leverage with no margin, collateral or liquidation risks. They have no margin requirement, offering traders a diversified product that exposes them to greater gains.
Established in March 2018, Bybit provides online spot and derivatives trading services, mining and staking products, as well as an NFT marketplace, to retail and institutional clients worldwide. It is also a partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and association football teams Borussia Dortmund and Avispa Fukuoka.
At the end of March, Bybit announced an opening of its global headquarters in Dubai, alongside crypto platform Crypto.com, in response to the UAE’s effort to become a global center for the crypto sector.