- Bybit announced the launch of leveraged token products on its spot exchange.
- It is starting with two Bitcoin leveraged tokens: BTC3L and BTC3S.
- Bybit recommends leveraged tokens as short-term investments.
Bybit has officially announced the launch of leveraged token products on its spot exchange. The platform is starting off with two Bitcoin leveraged tokens: BTC3L and BTC3S.
Ben Zhou, co-founder and CEO of Bybit, says that they are thrilled to offer clients another great trading opportunity in launching leveraged tokens.
We are always looking for ways to help our users capitalize on market opportunities, and leveraged tokens are an excellent addition.
Bybit claims that these leveraged tokens are short-term investment vehicles that let traders reap the benefits of leverage with no margin, collateral, or liquidation risks. The team adds that they have no margin requirement, offering traders a diversified product that exposes them to greater gains.
The virtual assets platform says that each leveraged token is a basket of perpetual contract positions that can be traded on Bybit’s spot exchange. It also states that now, traders can buy a leveraged token for exposure to leveraged trades with no fear of margin calls or liquidation.
Bybit’s new leveraged tokens, BTC3L and BTC3S, and BTC3 represent long and short trades on BTC with 3x leverage. Bybit recommends leveraged tokens as short-term investments. To help users fully understand the product, the platform has more information on its website.
Founded in 2018, Bybit is one of the world’s fastest-growing cryptocurrency exchanges. The company provides online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world. The exchange has its headquarters in Dubai.