Bybit Launches USDC Futures Contract: A Step Forward in Leveraging Digital Assets

03/22/2023 12:17 • Digital Disruptors • 110 views

On March 22, according to an official announcement, Bybit announced the launch of the USDC futures contract. BTC and ETH USDC settlement futures contracts can now be traded on the Bybit Web and API, and the Bybit App (version 4.14.0) will soon be available.

Bybit goes online and BTC and ETH USDC settle futures contracts

Cryptocurrencies have created ripples in the financial markets, gaining global attention and disrupting traditional banking systems. Digital assets have transformed the way we think about currency, offering alternative investment opportunities with higher returns. Crypto exchanges have been at the forefront of this revolution, bringing innovative products and solutions to the masses. Bybit, one of the leading crypto exchanges, has taken another leap in this direction by launching the USDC futures contract on March 22nd, 2021.

Overview of USDC Futures Contract Launch

Bybit’s official announcement on March 22nd, 2021, revealed the launch of the USDC futures contract. As per the announcement, BTC and ETH USDC settlement futures contracts can now be traded on the Bybit Web and API. Bybit Web and API are the two primary interfaces for trading on the Bybit exchange. Bybit app’s latest version 4.14.0 is also expected to be released soon and will allow the trading of USDC futures contracts.

Understanding USDC Futures Contracts

Before delving into the details of the USDC futures contract, it’s essential to understand futures contracts. Futures contracts are agreements to buy or sell a particular asset at a predetermined price on a specified date in the future. Futures contracts are commonly used in commodities and stock markets to hedge against price fluctuations.
USDC (USD Coin) is a stablecoin backed by the U.S. Dollar, which means that its value is tied to the U.S. Dollar. USDC futures contracts are futures contracts whose underlying assets are USDC. The USDC futures contract enables traders to speculate on the future price of USDC and hedge against price fluctuations. The USDC futures contract allows traders to exchange USDC at a predetermined price at a future date, providing a risk management tool.

Benefits of USDC Futures Contracts

Bybit’s launch of USDC futures contracts offers numerous benefits, both for traders and investors.

1. Lower Risk and Volatility

USDC is a stablecoin backed by the U.S. Dollar, making it less volatile compared to other cryptocurrencies. Futures contracts allow traders to hedge against possible price fluctuations, reducing the risk involved in trading.

2. Higher Liquidity

Bybit’s USDC futures contracts offer higher liquidity, allowing traders to enter and exit positions quickly. High liquidity translates to better market efficiency, with buyers and sellers entering and exiting positions at different price points.

3. Leverage Trading

Bybit’s USDC futures contracts allow traders to take advantage of leverage trading. Leverage trading enables traders to open bigger positions with minimal deposit, leading to higher returns on investment.

Final Words

In conclusion, Bybit’s launch of the USDC futures contract signifies the exchange’s commitment to innovation and offering alternative investment opportunities. The USDC futures contract offers a safer option to invest in digital assets, reducing the risk and volatility associated with cryptocurrencies. The higher liquidity and leverage trading options make USDC futures contracts an attractive investment tool for traders.

FAQs:

1. Can I trade USDC futures contracts on the Bybit exchange?
Yes, BTC and ETH USDC settlement futures contracts can now be traded on the Bybit Web and API.
2. What is a USDC futures contract?
USDC futures contracts are futures contracts whose underlying assets are USDC. The USDC futures contract allows traders to speculate on the future price of USDC and hedge against price fluctuations.
3. What are the benefits of trading USDC futures contracts?
USDC futures contracts offer lower risk and volatility, higher liquidity, and leverage trading opportunities.

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