Bybit Referral Code: How to Claim Up to $30K Bonus and Earn Passive Income

If you are looking for a reliable and user-friendly platform to trade crypto derivatives, you might want to check out Bybit. Bybit is one of the most popular crypto exchanges that offers futures and perpetual contracts on Bitcoin, Ethereum, and other cryptocurrencies. You can trade with up to 100x leverage, enjoy low fees and high liquidity, and access advanced trading tools and features.

But before you sign up for Bybit, you should know that there is a way to get more out of your trading experience. By using the Bybit referral code 56612, you can claim a generous bonus on your first deposit and boost your trading capital. You can also earn passive income by referring your friends to Bybit and getting commissions on their trading fees. And if that's not enough, you can also participate in various promotions and campaigns that Bybit runs regularly and win coupons, mystery boxes, and other prizes.

In this article, I will explain how the Bybit referral code works, how to use it, and what benefits you can get from it. I will also share some tips and tricks on how to make the most of your trading on Bybit. So let's get started!

What is the Bybit Referral Code?

The Bybit referral code is a special code that you can use when you sign up for Bybit. It allows you to claim a bonus on your first deposit and trade with extra margin. The bonus amount depends on the size of your deposit and the current promotion that Bybit is running.

For example, as of October 2023, Bybit is offering a $30K bonus for new users who deposit at least 0.01 BTC or equivalent in other cryptocurrencies. This means that if you deposit 0.01 BTC, you will get a $30 bonus; if you deposit 0.1 BTC, you will get a $300 bonus; if you deposit 1 BTC, you will get a $3,000 bonus; and so on, up to a maximum of $30K.

To claim this bonus, you need to use the Bybit referral code 56612 when you register for an account. You can do this by clicking on this link

Once you have created your account, you need to make your first deposit within 48 hours of signing up. You can deposit any supported cryptocurrency, such as BTC, ETH, USDT, XRP, EOS, or BCH. You can also use fiat currency via third-party payment providers such as MoonPay or Banxa.

After you have made your deposit, you need to activate your bonus in the Rewards Hub section of the Bybit website or app. You can find it under the Account tab in the top right corner of the screen. There you will see a list of tasks that you can complete to claim different rewards, such as coupons, vouchers, or mystery boxes.

To activate your bonus, you need to complete the task called "Flash Deals: A Big Deal". You will see the amount of bonus that you are eligible for based on your deposit size. You just need to click on the "Claim" button and confirm your action.

Once you have claimed your bonus, it will be credited to your account immediately. However, you cannot withdraw it right away. You need to use it for trading and generate a certain amount of trading volume before you can unlock it.

The required trading volume is calculated as follows:

Required Trading Volume = Bonus Amount / 0.01

For example, if you claim a $300 bonus, you need to generate a trading volume of $300 / 0.01 = $30,000 before you can withdraw it.

You can check your progress in the Rewards Hub section under the "My Rewards" tab. There you will see how much trading volume you have generated and how much bonus you have unlocked.

You have 21 days from the day you claim your bonus to meet the trading volume requirement. If you fail to do so within this period, your bonus will expire and be forfeited.

How to Earn Passive Income with Bybit Referral Code?

Claiming a bonus on your first deposit is not the only benefit of using the Bybit referral code. You can also earn passive income by inviting your friends to join Bybit and receiving commissions on their trading fees.

Bybit has a generous referral program that rewards both you and your referees for trading on the platform. You can earn up to 30% commission on every trade that your referees make, and they can also get a $20 bonus in USDT when they sign up with your referral code and trade at least $500.

To join the Bybit referral program, you need to access the Referral Program page on the Bybit website or app. You can find it under the Account tab in the top right corner of the screen. There you will see your unique referral code and link that you can share with your friends via email, social media, or any other channel.

You can also scan or generate a QR code that contains your referral code and link. You can customize your QR code by choosing different colors, shapes, and logos.

When your friends sign up for Bybit using your referral code or link, they will become your referees. You will be able to see their details, such as their username, email, registration date, and trading volume, in the Referral Program page under the "My Referees" tab.

You will start earning commissions as soon as your referees complete their first trade on Bybit. The commission rate depends on the number of active referees that you have and the total trading volume that they generate.

The commission rate is calculated as follows:

Commission Rate = Base Rate + Bonus Rate

The base rate is 10% for all users. The bonus rate is determined by the following table:

An active referee is a user who has traded at least once in the past 30 days. The total trading volume of referees is the sum of all trading volumes of your referees in the past 30 days.

For example, if you have 20 active referees who have generated a total trading volume of $2M in the past 30 days, your commission rate will be:

Commission Rate = Base Rate + Bonus Rate = 10% + 5% + 5% = 20%`

This means that you will earn a 20% commission on every trade that your referees make.

You can check your commission rate and earnings in the Referral Program page under the "My Commission" tab. There you will see a breakdown of your commission by referee, currency, and date.

You can withdraw your commission at any time to your Bybit wallet. You can choose to receive it in any supported cryptocurrency, such as BTC, ETH, USDT, XRP, EOS, or BCH.

You can also use your commission to trade on Bybit or claim other rewards in the Rewards Hub section.

How to Participate in Seasonal Promotions and Campaigns on Bybit?

Using the Bybit referral code and inviting your friends to Bybit are not the only ways to get more rewards from Bybit. You can also participate in various seasonal promotions and campaigns that Bybit runs regularly and win coupons, mystery boxes, and other prizes.

Bybit offers different types of promotions and campaigns for its users, such as trading competitions, lucky draws, zero-fee deposits, social media contests, and more. You can find them in the Rewards Hub section under the "Promotions" tab.

There you will see a list of ongoing and upcoming promotions and campaigns that you can join or register for. You will also see the details, rules, and prizes of each promotion or campaign.

Some of the promotions and campaigns that Bybit has run in the past include:

• World Series of Trading (WSOT): A global trading competition where users can compete in teams or individually for a prize pool of over $7.5M.
• Lucky Friday: A weekly lucky draw where users can win coupons worth up to $500 by completing simple tasks.
• Zero-Fee Deposit: A limited-time offer where users can deposit fiat currency via third-party payment providers without paying any fees.
• Social Media Contests: Various contests where users can win prizes by following Bybit on social media platforms such as Twitter, Facebook, Instagram, or YouTube and completing certain actions.

To participate in these promotions and campaigns, you need to follow the instructions and meet the eligibility criteria of each one. You can check your progress and status in the Rewards Hub section under the "My Rewards" tab.

You can also check the winners and results of each promotion or campaign in the Rewards Hub section under the "Winners Announcement" tab.

You can claim your prizes in the Rewards Hub section under the "My Rewards" tab. You can choose to receive them in your Bybit wallet or use them for trading or claiming other rewards.

By participating in these promotions and campaigns, you can not only increase your chances of winning more rewards, but also improve your trading skills, learn from other traders, and have fun.

How to Make the Most of Your Trading on Bybit?

Bybit is a platform that offers a lot of opportunities and benefits for crypto traders. But to make the most of your trading on Bybit, you need to know how to use its features and tools effectively.

Here are some tips and tricks that can help you optimize your trading on Bybit:

• Use leverage wisely: Leverage is a powerful tool that can amplify your profits, but also your losses. You should use leverage according to your risk appetite and trading strategy. You should also monitor your margin level and liquidation price to avoid getting liquidated.
• Use stop loss and take profit orders: Stop loss and take profit orders are essential for risk management and profit taking. You should always set a stop loss order to limit your losses in case the market moves against you. You should also set a take profit order to lock in your profits when the market reaches your target price.
• Use conditional orders: Conditional orders are orders that are triggered only when certain conditions are met. You can use conditional orders to enter or exit the market at a specific price or time. For example, you can use a limit order as a conditional order to buy or sell at a better price than the market price. You can also use a market order as a conditional order to execute your order immediately when the market reaches a certain price or time.
• Use cross margin and isolated margin modes: Bybit offers two margin modes for its perpetual contracts: cross margin and isolated margin. Cross margin mode allows you to share your margin across all your positions, which means that you can avoid liquidation by using the profits from one position to cover the losses from another position. Isolated margin mode allows you to allocate a specific amount of margin for each position, which means that you can limit your risk by isolating each position from the rest of your portfolio.
• Use dual-price mechanism: Bybit uses a dual-price mechanism to protect its users from market manipulation and unfair liquidation. The dual-price mechanism consists of two prices: the mark price and the last traded price. The mark price is the fair price of the contract, which is calculated based on the spot price index and the funding rate. The last traded price is the latest price at which the contract was traded on Bybit. The mark price is used to determine your profit and loss, margin level, and liquidation price. The last traded price is used to trigger your orders and liquidation.
• Use trading indicators and tools: Bybit provides various trading indicators and tools that can help you analyze the market and make informed decisions. You can access them on the Bybit website or app under the Chart tab.

Some of the indicators and tools that you can use include:

• TradingView: A powerful charting platform that offers hundreds of technical indicators, drawing tools, and trading strategies.
• Depth Chart: A graphical representation of the order book that shows the supply and demand of the market at different price levels.
• Order Book: A list of all the buy and sell orders that are placed on Bybit at different price levels.
  Recent Trades: A list of all the recent trades that have occurred on Bybit, showing their size, price, direction, and time.
• Position Calculator: A tool that helps you calculate your potential profit and loss, margin requirement, liquidation price, and ROI based on your entry price, exit price, leverage, and contract size.
• Funding Rate: A fee that is exchanged between long and short positions every 8 hours to keep the mark price close to the spot price index. The funding rate can be positive or negative depending on the market sentiment. If the funding rate is positive, long positions pay short positions; if the funding rate is negative, short positions pay long positions.

FAQ

Here are some frequently asked questions about the Bybit referral code and its benefits:

How do I sign up for Bybit with the referral code?

You can sign up for Bybit with the referral code by clicking on this link.
You will be redirected to the Bybit website or app, where you can create your account and enter the referral code 56612.

How do I claim my bonus on Bybit?

You can claim your bonus on Bybit by making your first deposit within 48 hours of signing up. You can deposit any supported cryptocurrency, such as BTC, ETH, USDT, XRP, EOS, or BCH. You can also use fiat currency via third-party payment providers such as MoonPay or Banxa.

After you have made your deposit, you need to activate your bonus in the Rewards Hub section of the Bybit website or app. You can find it under the Account tab in the top right corner of the screen. There you will see a list of tasks that you can complete to claim different rewards, such as coupons, vouchers, or mystery boxes.

To activate your bonus, you need to complete the task called "Flash Deals: A Big Deal". You will see the amount of bonus that you are eligible for based on your deposit size. You just need to click on the "Claim" button and confirm your action.

How do I withdraw my bonus on Bybit?

You can withdraw your bonus on Bybit after you have used it for trading and generated a certain amount of trading volume. The required trading volume is calculated as follows:

Required Trading Volume = Bonus Amount / 0.01

For example, if you claim a $300 bonus, you need to generate a trading volume of $300 / 0.01 = $30,000 before you can withdraw it.

You can check your progress and status in the Rewards Hub section under the "My Rewards" tab. There you will see how much trading volume you have generated and how much bonus you have unlocked.

You have 21 days from the day you claim your bonus to meet the trading volume requirement. If you fail to do so within this period, your bonus will expire and be forfeited.

How do I invite my friends to Bybit and earn commissions?

You can invite your friends to Bybit and earn commissions by sharing your unique referral code and link with them. You can access them in the Referral Program page on the Bybit website or app. You can find it under the Account tab in the top right corner of the screen. There you will see your referral code and link that you can share with your friends via email, social media, or any other channel.

You can also scan or generate a QR code that contains your referral code and link. You can customize your QR code by choosing different colors, shapes, and logos.

When your friends sign up for Bybit using your referral code or link, they will become your referees. You will start earning commissions as soon as they complete their first trade on Bybit. The commission rate depends on the number of active referees that you have and the total trading volume that they generate.

You can check your commission rate and earnings in the Referral Program page under the "My Commission" tab. You can withdraw your commission at any time to your Bybit wallet. You can choose to receive it in any supported cryptocurrency, such as BTC, ETH, USDT, XRP, EOS, or BCH.

How do I join the promotions and campaigns on Bybit and win prizes?

You can join the promotions and campaigns on Bybit and win prizes by visiting the Rewards Hub section of the Bybit website or app. You can find it under the Account tab in the top right corner of the screen. There you will see a list of ongoing and upcoming promotions and campaigns that you can join or register for.

You need to follow the instructions and meet the eligibility criteria of each promotion or campaign. You can check your progress and status in the Rewards Hub section under the "My Rewards" tab.

You can also check the winners and results of each promotion or campaign in the Rewards Hub section under the "Winners Announcement" tab.

You can claim your prizes in the Rewards Hub section under the "My Rewards" tab. You can choose to receive them in your Bybit wallet or use them for trading or claiming other rewards.

Final Verdict

Bybit is a great platform for crypto traders who want to trade with leverage, enjoy low fees and high liquidity, and access advanced trading features and tools.

But to get more out of your trading experience on Bybit, you should use the Bybit referral code 56612 when you sign up for an account.

By using this code, you can claim up to a $30K bonus on your first deposit and trade with extra margin. You can also earn passive income by inviting your friends to Bybit and receiving commissions on their trading fees. And if that's not enough, you can also participate in various promotions and campaigns that Bybit runs regularly and win coupons, mystery boxes, and other prizes.

So what are you waiting for? Click here or scan this QR code to sign up for Bybit with the referral code 56612 and start trading today!