Bybit Crypto Exchange Launches Leveraged Token Products
Bybit cryptocurrency exchange has announced the launch of two new leveraged products dubbed BTC3L and BTC3S, enabling traders to reap the benefits of leveraged trading with no margin, collateral, or liquidation risks.
Bybit Introduces BTC3L and BTC3S Leveraged Products
Bybit, a leading Dubai-based bitcoin trading venue and cryptocurrency exchange established in 2018, has introduced two new leveraged products to make it easier for its customers to boost their crypto trading profits with fewer risks.
Dubbed BTC3L and BTC3S, the firm has made it clear that the new leveraged tokens are simply short-term investment vehicles that let traders enjoy the numerous benefits of leverage trading with no margin calls, collateral or liquidation risks, thereby offering them a diversified investment instrument that exposes them to greater gains.
Commenting on the launch of the innovative leveraged tokens, Ben Zhou, co-founder, and CEO of Bybit said:
“We are thrilled to offer our clients another great trading opportunity in launching leveraged tokens. We are always in search of ways to help our users capitalize on market opportunities and leveraged tokens are an excellent addition.”
Bybit at the Forefront of Crypto Innovation
Per a press release shared with crypto.news Bybit’s newly launched leveraged tokens, BTC3L and BTC3S represent long and short trades on bitcoin (BTC), with 3x leverage. In essence, if the bitcoin price moves upwards by one percent in a day, then traders holding the BTC3L leveraged token would have made a decent three percent gain.
In the same vein, when the price of bitcoin drops, traders holding the BTC3S leveraged token will also earn profits.
Bybit wrote:
“In a predominantly bull or bear market, leveraged tokens are popular as a diversified trading product that can help make the most out of a volatile market. Each leveraged token is a basket of perpetual contract positions that can be traded on Bybit’s spot exchange. Now, traders can simply buy a leveraged token for exposure to leveraged trades with no fear of margin calls or liquidation.”
Bybit exchange provides a professional platform that offers bitcoin and altcoin traders an ultra-fast matching engine, excellent customer service, multilingual community support, and more.
The exchange offers both professional and retail traders innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace, API support, and more.
In August 2021, Bybit forayed into the rapidly evolving eSports industry through a multi-million dollar partnership deal with Natus Vincere (NAVI), one of the most iconic brands in the e-Sports world.
More recently, in March 2022, crypto.news reported that Bybit has bagged the Best Crypto Exchange Award at the recently held Crypto Expo Dubai (CED 2022).
