Bybit Launches USDC Settlement Futures Contract for BTC and ETH
On March 22, according to an official announcement, Bybit announced the launch of the USDC futures contract. BTC and ETH USDC settlement futures contracts can now be traded on the
On March 22, according to an official announcement, Bybit announced the launch of the USDC futures contract. BTC and ETH USDC settlement futures contracts can now be traded on the Bybit Web and API, and the Bybit App (version 4.14.0) will soon be available.
Bybit goes online and BTC and ETH USDC settle futures contracts
Bybit, a leading cryptocurrency derivatives exchange, has recently announced the launch of the USDC settlement futures contract for Bitcoin (BTC) and Ethereum (ETH). This latest addition to the platform’s product suite allows traders to make settlements in USDC, a stablecoin pegged to the US dollar.
Why USDC Settlement Is Important
Settlement is an essential part of any futures contract, in which an agreement is reached between buyers and sellers to exchange a particular asset at a specified price and date. USDC settlement futures provide traders with an extra layer of stability, as they can settle in USDC if they do not want to receive the cryptocurrency they are trading in.
The USDC stablecoin is preferable for many traders because it provides stability in the volatile cryptocurrency market. By using USDC, traders can shield themselves from the price fluctuations of BTC and ETH, which are common in the crypto market.
The Launch of Bybit’s USDC Futures Contract
Bybit announced its USDC futures contract on March 22, which has been made available on its website and API. The Bybit app version 4.14.0 will follow suit shortly. The USDC futures contract allows traders to trade in BTC and ETH and settle them in USDC, providing them with much-needed stability.
Bybit’s USDC futures contract is expected to be a game-changer in the cryptocurrency derivatives market. With this latest feature, traders can now make more informed decisions on their trades, reducing the risks of volatility in the crypto market.
Advantages of the Bybit USDC Futures Contract
With the launch of the new USDC futures contract, traders can expect a few key advantages on the Bybit platform. Firstly, this new feature provides traders with a broader range of trading options. By being able to trade in BTC and ETH, traders can diversify their portfolios, which can help them to minimize risks.
Another advantage of Bybit’s USDC futures contract is that it provides traders with an additional risk management tool. According to Bybit’s statement, traders can set their positions to auto-deleveraging when their margin balances fall below the maintenance margin level. With this feature in place, traders can minimize the risks associated with margin trading.
Conclusion
The launch of Bybit’s USDC futures contract is a positive move for the cryptocurrency derivatives market. It provides traders with much-needed stability by allowing them to settle in USDC, a stablecoin pegged to the US dollar. With this latest addition to its suite of products, Bybit is expected to attract more traders, making it one of the leading cryptocurrency derivatives exchanges of 2021.
FAQs
1. What is Bybit?
Bybit is a leading cryptocurrency derivatives exchange that specializes in trading and settling Bitcoin, Ethereum, and other major cryptocurrencies.
2. What is USDC?
USDC is a stablecoin pegged to the US dollar, which provides traders with stability and reduces the risks associated with trading cryptocurrencies.
3. How does the USDC futures contract benefit traders?
The USDC futures contract allows traders to settle in USDC, providing them with stability and reducing the volatility risks of BTC and ETH. Traders can also use this feature as an additional risk management tool, minimizing the risks associated with margin trading.
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