Bybit, one of the most popular cryptocurrency exchanges in the world, unveiled its comprehensive options trading guide as a free tool to assist investors in navigating the lucrative world of cryptocurrency options.
- Bybit introduces an educative series to guide users on options trading on the crypto platform.
- Users on the crypto platform can also trade USD Coin (USDC) options and perpetuals easily using the portfolio margin.
- Bybit has cemented itself as one of the leading names in the cryptocurrency industry with its various collaborations with other companies in various industries.
Bybit’s analysts will tutor amateur and expert options traders as they explore the platform’s new BTC, ETH, and SOL options contracts in the industry’s most detailed guide.
Users will learn the best ways to trade Bybit’s first-in-market USDC-margined options contracts from the “Expand Your Options” guide.
The manual, which focuses on Bybit’s USDC-margined options contracts, is divided into eight sections that cover both fundamental concepts in options and more complex hedging techniques.
An example is the “straddle,” “covered call,” and “strangle” options investment strategies inside the third and fourth sections of the recently released guide. The series also provides a thorough analysis of options spreads and a step-by-step breakdown.
Through a press release, Bybit customers will now be able to trade USD Coin (USDC) options and perpetuals using portfolio margin. This strategy is best suited for experienced traders who want to maximize the use of their funds based on the underlying price and volatility.
The report said that this launch would assist Bybit in developing into an all-in-one trading platform with an easy-to-use UI and open API compatibility. By doing this, Bybit intends to make it possible for traders to trade linear options in a flexible manner.
Ben Zhou, co-founder and CEO of Bybit said, “The new options guide will help empower our users to achieve their financial dreams. Our team of experts has created this ultimate guide to trading options, which covers everything from beginner to advanced strategies. We are now a crypto ‘super app’ that serves all crypto participants; anything our customers need in crypto, we will offer.”
Bybit Growth in the Crypto Industry
Bybit, introduced in March 2018, has rapidly established itself as a top cryptocurrency exchange. Trailing FTX.US in terms of trading volume, Bybit is currently the 16th-largest cryptocurrency exchange.
Due to the platform’s massive development, a non-fungible token (NFT) marketplace was introduced in January, giving users easier access to the rapidly growing sector.
Users do not need to establish or import wallets on Bybit, in contrast to other marketplaces. Rather, registered users can use their spot accounts to purchase and trade NFTs.
Bybit introduced cryptocurrency USDC-margined and settled options early this year, broadening its selection of investment products and services. Given that they are cash-settled products in the European form, they can only be used after the contract’s expiration date.
The exchange launched a portfolio margin mode in June, allowing traders in derivatives to quantify their risk across the entire portfolio. Since gains from winning positions can compensate for losses incurred by losing positions, the feature essentially boosts total capital efficiency.
Along with establishing an NFT marketplace, Bybit gained attention when it agreed to a $150 million contract with Red Bull’s Formula 1 team. Bybit will pay $50 million annually for the duration of the three-year contract. Notably, this agreement grew to be the biggest cryptocurrency-related sponsorship contract in the world of sports.
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