Bybit introduces three new tokens to expand trading options
Bybit introduces three new tokens to expand trading options
Bybit has announced the listing of three new assets on its platform, expanding its offerings for margin trading, crypto loans, flexible savings and institutional loans.
Bybit, one of the prominent cryptocurrency exchanges, is expanding its asset portfolio with the listing of three new cryptocurrencies: IO, ZK and ZRO.
The new assets will be available for use with the following products:
- Spot Margin Trading: IO/USDT, ZK/USDT and ZRO/USDT
- Crypto Loans: IO, ZK and ZRO
- Flexible Savings: IO, ZK and ZRO
- Institutional Loans: IO, ZK and ZRO
These assets will be available on the above services on July 9, 2024, 10:00 (UTC).
Users will be able to use the new assets in the following ways:
- Margin trade with up to 10x leverage on trading pairs using your unified trading account (UTA). Margin trading allows traders to leverage their positions, potentially increasing their profits but also increasing their risks.
- Use them as collateral to borrow funds for trading. Users can now borrow tokens against their existing holdings, providing them with liquidity without having to sell their assets. This feature is especially beneficial for users looking to leverage their crypto holdings.
- Subscribe to Flexible Savings Plans to earn hourly interest. This program allows users to earn interest on their idle funds. By depositing tokens into Bybit's savings accounts, users can earn daily interest, increasing the utility of their holdings.
- Use them as collateral for institutional loans. This offering is targeted at larger institutions looking to access significant amounts of cryptocurrency for various investment strategies.
The listing reflects the crypto exchange's commitment to providing its users with comprehensive services and a wide range of investment options.
Bybit continues to innovate and adapt to the evolving needs of the cryptocurrency market, ensuring it remains a competitive player in the industry.
