On November 26, 2020, Bybit, a three-year-old cryptocurrency derivatives exchange, held an online launch event for its new products and functions. Since its launch in December 2018, the rapidly growing Bybit has over one million registered users. In order to better serve traders, in the future, Bybit will deeply integrate with the foreign exchange trading tool MetaTrader 4 (MT4), and at the same time launch new products and functions such as delivery contracts and sub-master accounts.
"At Bybit, we have been optimizing our products in order to give users the best trading experience. When Bybit was established three years ago, the launch of these new products and functions reflects the value vision we have been pursuing, and pioneered cryptocurrency trading. A new era," said co-founder and CEO Ben Zhou.
The newly launched BTCUSD delivery contract allows traders to buy and sell the underlying asset at a preset price on a specific date in the future. At the same time, on November 30, we will be the first to launch the current quarter and second quarter contracts, which are BTCUSD1225 for settlement on December 25, 2020 and BTCUSD0326 for settlement on March 26, 2021. Then on December 11, 2020, we will launch new quarterly delivery contracts: BTCUSD0625, BTCUSD0924 and BTCUSD1224.
The biggest advantage of the delivery contract is that there is no need to pay the funding rate. As long as the contract has not expired, the trader can always hold the position without incurring the funding rate. Bybit will use the insurance pool fund of the BTCUSD perpetual contract to bear the liquidation costs incurred by users in the delivery contract, thus replacing the need for ALD (automatic liquidation mechanism). Traders can use strategies such as one-way or hedging to lock positions to avoid liquidation. Quoted in USD but settled in BTC, the base risk limit for the delivery contract is 150 BTC, the maximum order size is 1,000,000, and the maximum available leverage is 100 times.
In order to meet the needs of users, Bybit launched the sub-master account function. All accounts are associated with the main account, and sub-accounts can use different trading strategies, so as to more intuitively reflect the income results of different trading strategies. Moreover, the access and control rights of the sub-account are limited and are only for trading. The recharge and cash withdrawal functions also need to collect funds into the main account to complete. This regulation can help to better manage various account assets and ensure the security of account assets.
MetaTrader 4 is a trading tool that is widely used by Forex traders. It can provide advanced technical analysis, stable trading system and algorithmic trading tools. Through deep integration with MT4, Bybit will provide traders with more options for trading methods. At the same time, it makes it easier for foreign exchange traders to understand cryptocurrencies and make it easy to achieve a diversified investment portfolio.
About Bybit
Founded in March 2018, Bybit is a cryptocurrency trading platform focusing on derivatives. Bybit provides online trading services for global retail users and professional traders.
For more information, please visit: https://www.bybit.com/
For the latest news, please follow Bybit official social platformTwitter(https://twitter.com/Bybit_ZH) andTelegram（https://t.me/BybitChinese）。
