Bybit, a blockchain-based derivatives exchange platform has launched its second product, an Ethereum perpetual contract, just two months after it started its BTC/USD perpetual contract.
According to the team, the new ETHUSD perpetual contract comes with leverage of 100x, functioning in the same way with the BTCUSD perpetual contract, processing 100,000 transactions per second (TPS).
That’s not all; it also comes with a dedicated ether wallet for real-time withdrawals and deposits, a dual price mechanism, funding, as well as expert risk control mechanism.
For the uninitiated, perpetual are new types of futures contracts that have no expiry date and are a part of the derivatives family.
It’s worth noting that derivatives contracts offer users a chance to make profits from all market movements (bullish or bearish), depending on the position opened by the investor and it offers excellent leverage to multiply the profits earned from any given trade.
Importantly, the Bybit team has also revealed that in a bid to get more day traders to sign up on the platform, it has added the Korean language.
The Bybit Academy
Also, as part of its entire development process, Bybit Academy, an arm of the firm that’s dedicated to teaching crypto day-traders how to be successful in their trade, plans to add more resources, including videos, articles, comics, analysis and more to its platform, to help newbies to build their knowledge and confidence they need to succeed in the derivatives world.
Headquartered in Singapore and registered in BVI, Bybit is poised to revolutionize the crypto space with its highly functional combination of cryptos and traditional financial services to offer clients a highly secure, fair and user-friendly trading platform.
Seasoned blockchain investors founded Bybit and it is designed for both new, expert and institutional crypto traders alike.
The firm’s R&D team is made up of experts from BAT, while their risk control and operations teams come from established firms like Morgan Stanley.