The cryptocurrency derivatives exchange BiBit announced on the 12th that it has launched an inverse futures contract for Bitcoin and Dollar (BTCUSD).
BTCUSD quarterly futures contracts are commodities set in dollars and settled in Bitcoin (BTC). It is designed to buy or sell underlying assets at a predetermined price on a specific date in the future. The BTCUSD0625 contract, which expires on June 25, 2021, is currently available for trading on the PC version of Bybit, and the BTCUSD0924 contract, which expires on September 24, 2021, is available for trading from March 18.
Bybit’s inverse futures contracts are not subject to financing fees. Traders can hold positions for as long as the contract is in effect without any fees. Bybit explained that it has built a stable operating system by sharing the insurance fund of BTCUSD indefinite contracts and futures contracts to cover the negative capital of inverse futures contracts and reduce the risk of automatic asset liquidation (ADL).
In addition, traders can set their own strategies, such as minimizing the risk of liquidation by choosing a one-way or two-way trading method. According to Bybit, the BTCUSD futures contract has the advantage of increasing the flexibility of fund management as it can share BTCUSD indefinite contracts and BTC holdings.
“Bybit is constantly looking for ways to improve its service,” said Ben Zhou, CEO of Bybit. “The launch of this inverse futures contract will increase the company’s value and further improve the trading environment for cryptocurrency derivatives.” .
Meanwhile, BIBIT announced that it plans to hold a’megaton-class Gift Pang Pang’ event from the 16th to the 13th of next month, which provides gifts worth up to 250,000 dollars (about 285 million won) in commemoration of the launch of the inverse futures contract.
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* This article was written with the sponsorship of Bybit.
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