Bybit has officially announced that it will start selling tokens that can be used to make money on its spot exchange. The first tokens on the platform are called BTC3L and BTC3S.
People who work for Bybit, the company that Ben Zhou is the co-founder and CEO of, say that they are excited about giving their customers another great way to trade.
We are always looking for ways to help our users make the most of market opportunities, and leveraged tokens are a great way to do that.
They say these tokens are short-term investment vehicles that let traders get the benefits of leverage without having to pay any money, collateral, or risk losing their money. The team says that they don’t have a margin requirement, which gives traders a more diversified product that gives them more chances to make more money.
It says that each leveraged token is a basket of perpetual contract positions that can be traded on the Bybit spot exchange. Traders can also buy a leveraged token now, which gives them a lot of exposure to leveraged trades without having to worry about running out of money.
There are two new tokens from Bybit that have 3x leverage on BTC trades. They’re called BTC3L, 3S, and BTC3. They represent long and short trades on BTC. Bybit recommends investing in leveraged tokens for short-term gains. In order to help people understand the product, the platform has a lot more information on its site.
If you want to buy or sell cryptocurrency, Bybit is one of the world’s fastest-growing exchanges. People who want to trade online can use the company’s online spot and derivatives trading services, mining and staking products, an NFT marketplace, and API support. They can also use the company’s APIs. The exchange is based in Dubai.