Dubai, United Arab Emirates, August 6, 2024, Chainwire
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced its latest product: Bybit Pre-Market Perpetuals. This innovative offering allows users to trade perpetual contracts on future tokens, providing the opportunity to interact with future securities before their official market debut.
Pre-market perpetual contracts are designed to offer early access to potential promising new contracts. This helps users avoid potential increases in entry costs due to price volatility at the time of launch.
Traders can place orders with up to 5x leverage before the contract is officially listed. If they match the specified price, orders are executed at the opening price upon successful opening and the position is seamlessly transferred to the new contract after the trader is listed – a unique benefit compared to Bybit’s competitors.
“Bybit is always looking to innovate and offer our users the best trading tools available,” said Joan Han, Head of Sales and Marketing at Bybit. “Pre-market perpetuals provide early access to new tokens, allowing our users to hedge spot positions and effectively lock in profits. We believe this product will set a new standard in the cryptocurrency trading landscape.”
The ability to hedge spot positions using pre-market perpetual contracts offers traders a significant risk management tool. For those employing short selling strategies or engaging in pre-market spot trading, these contracts provide a mechanism to minimize risk, thereby safeguarding investments and securing potential profits.
Bybit’s introduction of Pre-Market Perpetuals is another innovation from a market leader that has gained significant market share. Thanks to its superior user experience and products, Bybit has become the second-largest cryptocurrency exchange in the spot and derivatives markets. Pre-Market Perpetuals provide early access and risk management opportunities and reinforce Bybit’s position as a pioneer in the cryptocurrency market.
#Bybit / #ElArcoCrypto
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange platform by trading volume, serving over 37 million users. Founded in 2018, Bybit offers a professional platform where cryptocurrency investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of the reigning Formula One constructors’ and drivers’ champions – the Oracle (NYSE:) Red Bull Racing Team.
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This article was originally published on Chainwire
