What is a Bybit (powered by SATOS) Giveaway?

A Bybit (powered by SATOS) Giveaway enables you to share your crypto assets with your friends on the Bybit (powered by SATOS) platform.

What types of coins are supported for sending in the Giveaway?

In general, you can send any coin type you hold in your Bybit (powered by SATOS) account via a Giveaway.

 

However, please be aware that certain regions might impose restrictions on sending or claiming certain coin types based on local laws and regulations.

Are there minimum amounts for creating Giveaways, or any daily claim limits? 

The daily Giveaway Gift (total amount allocated) limit per day is 5,000 USDC. Users are allowed to create a maximum of 5,000 USDC worth of tokens from Giveaways per day. Currently, there are no daily claim limits.

When using BTC to create a Giveaway, how is the USDC equivalent determined?

The equivalent value of BTC in USDC for the Giveaway is determined using the market price on the Bybit (powered by SATOS) Spot market. This ensures precise and up-to-date conversion calculations.

Can I create a Giveaway both on the Bybit (powered by SATOS) App and the website? 

Currently, the Giveaway feature is exclusively supported on the Bybit (powered by SATOS) App. For more information on how to create a Giveaway, click here. 

Is Identity Verification required for using the Bybit (powered by SATOS) Giveaway? 

Yes, completing Identity Verification is mandatory to ensure that the claimed Giveaway amount is successfully transferred to your Funding Account on Bybit (powered by SATOS). Creators who have not completed the Identity Verification will still be able to create a Giveaway if you have assets in your account. 

 

This requirement applies to all Bybit (powered by SATOS) users, including institutional users who also have the option to utilize the Giveaway function. 

How can I use assets obtained through Giveaways? 

Once your Identity Verification is successfully completed, the claimed Giveaway amount will be automatically credited to your Funding Account. You can utilize these funds for trading or withdrawals. 

 

It's important to note that there may be a waiting period before newly credited balances can be withdrawn, as they undergo a risk assessment clearance.

What if Identity Verification is not completed within the specified time frame?

Please be aware that if Identity Verification is not completed, the claimed amount will be held in reserve within your Bybit (powered by SATOS) account without being transferred. If verification remains incomplete beyond 24 hours after claiming from the Giveaway, the amount will be returned to the original creator.

Under what circumstances will unclaimed giveaway amounts be returned to the Funding Account?

Unclaimed giveaway amounts will be returned to the creator’s Funding Account in the following situations:

 

a) Unclaimed Giveaway Gifts: If giveaway amounts are left unclaimed for a period of 24 hours, they will be automatically returned to the creator’s Funding Account.

 

b) Non-Bybit (powered by SATOS) User Registration: If a participant who is not a Bybit (powered by SATOS) user joins the giveaway but fails to complete the Bybit (powered by SATOS) account registration process within 30 minutes, the giveaway funds will be returned.

 

c) Incomplete Identity Verification: In the event that a Bybit (powered by SATOS) user joins the giveaway but does not complete the required Identity Verification within the provided 24 hours, the giveaway funds will be returned.

Why is my available balance showing as 0 when attempting to create a Giveaway, despite having a non-zero account balance?

This situation could arise if certain funds you have deposited are currently within a withdrawal lockup period, which usually spans 24 hours. During this specific timeframe, the funds remain in your account but are temporarily inaccessible for withdrawals or for use in initiating Giveaways.

Do Giveaways expire? 

Yes, Giveaways currently have a validity period of 24 hours. Any unclaimed amount at the end of this duration will be returned to the creator's Bybit (powered by SATOS) account.

How can I view my Giveaway history? 

To review your Giveaway creation and claim records, access the Giveaway feature within the Bybit (powered by SATOS) App and click on History in the top-right corner.

Why can't I claim Giveaways using my phone number? 

Unfortunately, the option to claim Giveaways via phone number is not yet supported. Stay updated on the latest product developments by following Bybit (powered by SATOS)'s official social media channels.