Bybit Card: Complete Review, 10% Cashback and Availability in France

Bybit, the Singapore-based crypto trading giant, is making waves in Europe with a promising debit card offering up to 10% cashback. But behind this attractive announcement lie conditions often misunderstood by French users. So, is the Bybit Card really accessible in France? And is this record cashback realistic?

In an increasingly competitive crypto card market, Bybit is trying to stand out with an aggressive offer. Before you dive in, use our cashback simulator to calculate your real earnings, and discover our complete comparison tool to evaluate all your options. In this article, we separate fact from fiction about the Bybit Card.

What is the Bybit Card? Complete Overview

A New Generation Crypto Visa Card

The Bybit Card is a Visa debit card that allows you to spend your cryptocurrencies at all Visa-accepting merchants worldwide. Unlike some competing cards, it operates on an instant conversion system: your cryptos are automatically converted to euros at the time of payment.

Main features:

• ▸Issuer: Visa
• ▸Type: Virtual and physical debit card
• ▸Supported currencies: BTC, ETH, USDT, USDC and several others
• ▸Limits: Vary depending on verification level
• ▸Exchange fees: 0% on crypto-fiat conversions

Bybit's Positioning in the European Market

Bybit was long absent from the European crypto card market, leaving the field open to Binance, Crypto.com and Bitpanda. Since 2023, the exchange has accelerated its expansion by obtaining licenses in several European jurisdictions. This strategy is clearly aimed at competing with Binance Card, which currently dominates the active traders segment.

Bybit Cashback: Understanding the Real Conditions

The 10% Cashback Myth

The figure of 10% cashback is attractive, but the reality is more nuanced. Unlike what many think, this maximum rate is not accessible to all users. Here's how the system actually works:

Watch out for misconceptions:

• ▸The 10% is reserved for VIP traders with considerable volumes
• ▸Cashback is often paid in BIT token (Bybit's native token)
• ▸Monthly caps limit total cashback received
• ▸Certain spending categories are excluded

Cashback in BIT: Advantage or Disadvantage?

Payment of cashback in BIT token rather than euros or stablecoins divides users. On one hand, BIT can appreciate and multiply your earnings. On the other hand, its volatility represents a risk: your 10% cashback can quickly turn into 5% if the price drops.

Our advice: If you're not familiar with the BIT token and don't want to manage this additional risk, consider alternatives like the Crypto.com card which pays cashback in CRO with more liquidity.

Availability in France: 2024 Status

The Current Situation for French Residents

Here's the question all French people are asking: Is the Bybit Card available in France? The answer deserves to be nuanced.

As of publication date, the Bybit Card is not officially available for French tax residents. Bybit has gradually expanded its European coverage, but France remains in a gray zone for several reasons:

• ▸Strict regulation: The AMF (Financial Markets Authority) imposes specific requirements
• ▸PSAN registration: Bybit is working on its registration, but the process is taking time
• ▸Geographic restrictions: During registration, French residents may encounter blocks

European Countries Where the Card is Available

For our non-French European readers, here's the list of countries where the Bybit Card is accessible:

• ▸United Kingdom (via FCA license)
• ▸Germany
• ▸Netherlands
• ▸Spain
• ▸Italy
• ▸Portugal
• ▸And several other EEA countries

Practical advice: If you travel frequently in Europe and have a secondary residence in an eligible country, options may exist. However, we strongly advise against any attempt to circumvent geographic restrictions, which could result in account suspension.

Prospects for France

Bybit has publicly announced its intention to obtain PSAN registration in France. Several indicators suggest an imminent arrival:

• ▸Recruitment of local teams in Paris
• ▸Complete translation of the platform into French
• ▸Partnerships with local players

Our estimate: Official availability could occur in 2024-2025, subject to obtaining regulatory approvals.

Comparison: Bybit Card vs Binance Card

For users with access to both options, here's a detailed comparison:

Advantages of Bybit Card

• ▸Potentially higher cashback for big traders
• ▸Zero conversion fees from crypto to fiat
• ▸Higher limits for withdrawals
• ▸Modern and responsive user interface

Advantages of Binance Card

• ▸More established presence in Europe
• ▸BNB token more liquid than BIT
• ▸Wider ecosystem (DeFi, Launchpad, etc.)
• ▸Longer history (user trust)

Alternative Options Available in France

While waiting for Bybit to arrive, French residents have access to several excellent alternatives. Discover them all on our crypto card comparison tool.

Top 3 Alternatives for French Residents

1. Crypto.com Visa

• ▸Cashback: 1% to 5%
• ▸Advantage: Clear staking program, full availability in France
• ▸Disadvantage: Requires locking CRO for best rates

2. Bitpanda Card

• ▸Cashback: 2%
• ▸Advantage: Austrian company, perfect EU compliance
• ▸Disadvantage: Cashback in BEST (in-house token)

3. Wirex Card

• ▸Cashback: Up to 8%
• ▸Advantage: Wide choice of cryptos, innovative Cryptoback™
• ▸Disadvantage: Complex tier system

FAQ: Your Questions About Bybit Card

Is the Bybit Card free? Yes, the Bybit Card has no issuance or monthly fees. Only certain specific uses (ATM withdrawals, for example) may incur fees.

Can you get the Bybit Card in France legally? As of today, no. The card is not officially available for French tax residents. Any attempt to circumvent this is discouraged.

Is 10% cashback realistic? For the vast majority of users, no. The 10% rate is reserved for VIP members with very strict conditions. Expect rather 0.5% to 2% in normal usage.

What currency is the cashback paid in? Cashback is paid in BIT token, Bybit's native ecosystem token. You'll need to convert it if you want euros.

What cryptos can you spend with the Bybit Card? BTC, ETH, USDT, USDC, and more than a dozen other cryptocurrencies are supported, with automatic conversion at the time of payment.

Conclusion: Our Opinion on the Bybit Card

The Bybit Card has undeniable strengths: attractive cashback for active traders, zero conversion fees and a modern interface. However, for French residents, the verdict is clear: waiting is recommended.

The 10% cashback highlighted is a marketing argument that concerns a tiny minority of users. For standard use, expect rates between 0.5% and 2%, comparable to the competition.

Our recommendation:

• ▸If you're a French resident, explore available alternatives now
• ▸If you reside in an eligible European country and are an active trader on Bybit, the card deserves consideration
• ▸In any case, calculate your real earnings with our cashback simulator

Compare all crypto cards available in France on CryptoCardCompare to find the one that truly matches your profile and maximize your benefits.