Bybit Launches Leveraged Token Products; Starts With BTC3L, BTC3S By CoinQuora

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Bybit Launches Leveraged Token Products; Starts with BTC3L, BTC3S

  • Bybit has announced the launch of leveraged token products on its spot exchange.
  • It starts with two 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 starts with two Bitcoin leveraged tokens: BTC3L and BTC3S.

Ben Zhou, co-founder and CEO of Bybit, says he is excited to provide clients with another excellent trading opportunity by launching leveraged tokens.

We are always looking for ways to help our users take advantage of market opportunities, and leveraged tokens are a great addition.

Bybit claims that these leveraged tokens are short-term investment vehicles that allow traders to reap the benefits of leverage without margin, collateral or liquidation risk. The team adds that they have zero margin requirements, providing traders with a diversified product that exposes them to greater gains.

The virtual asset platform states that each leveraged token is a basket of perpetual contract positions that can be traded on Bybit’s spot exchange. It also says that now traders can buy a leveraged token to gain exposure to leveraged trades without 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 fastest growing cryptocurrency exchanges in the world. The Company provides online spot and derivatives trading services, mining and staking products, an NFT market as well as API support, to retail and institutional clients worldwide. The stock exchange is headquartered in Dubai.

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