ByBit Crypto Derivatives Platform Launches USDT Contracts: Details
With USDT perpetual contracts, the United States Dollar Tether (USDT) is used as both the quote and settlement currency.
Denominated in stablecoin
According to a press release shared with U.Today, the new line of perpetual contracts will enable two-way trading, i.e. allow traders to open long and short positions at the same time with different leverage.
That said, USDT perpetual contracts will replicate spot markets trading but with leverage options. This novelty also upgrades the cross-margin trading toolkit. Cross-margin allows unrealized profits and losses sitting on the account to be deployed as a top-up margin for other positions and even across other contracts.
E.g., the profit from a BTC-USDT contract can be used to fuel an ETH-USDT contract opened by the same trader. Thus, stablecoins make the trader experience seamless.
Extra features for safe trading
Alongside that, more trading toolkit options have been added. First of all, a Take-Profit/Stop-Loss (TP/SL) setting can now be found within the order placement window. A trader can now set both a TP and an SL directly when placing an order.
Vladislav SopovAlso, margin setting requirements have been adjusted. Now, the requirements are significantly lower and much more customizable. Furthermore, traders can now participate in a shared insurance fund to offset the risk of liquidation.
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