Zero Fees Return for Bybit’s USDC-Settled Crypto Options
- Written by Telegraph Magazine
DUBAI, UNITED ARAB EMIRATES - Media OutReach - 10 March 2023 - Bybit, the world's third most visited crypto exchange, today announced zero fees on all its options contracts to celebrate the launch of its Unified Trading Account (UTA).
As part of its goal to introduce the crypto community to next-level opportunities, Bybit now presents the most well-rounded and cost-effective crypto options in the market. Users can now use liquid USDT-perpetual products to offset the risks from options trading.
Starting on March 10, 2023, at 10AM UTC, VIP and institutional users who have upgraded to Bybit's UTA can participate in the campaign and enjoy fee-free trading. Bybit's blue chip options contracts (BTC, ETH, SOL) will all be included in this promotion.
Bybit's UTA is designed to make trading easier by streamlining the experience across asset types with a single account. This allows investors to cross-collateralize between positions, diversify trades, and seamlessly switch between strategies without transferring assets manually.
When using UTA, clients will be able to leverage UTA's upgraded portfolio margin by using USDT derivatives for added hedging capability, allowing them to mitigate risk when trading USDC options. This breakthrough will empower traders holding hedging USDC options and USDT perpetual positions to enjoy higher flexibility and more opportunities.
VIP and institutional clients will automatically enjoy zero fees for all options trades once they have upgraded to UTA. They will also be able to trade without fees for the campaign's duration.
"We strive to provide our customers with more value and create better trading experiences," said Hao Yang, head of options at Bybit. "Traversing the crypto space can be painstaking and time-consuming, and every second counts in a market that doesn't sleep. At Bybit, we are dedicated to creating next-level products with the most competitive fees we can offer, and creating a transparent, inclusive platform that echoes crypto's true calling."
Hashtag: #Bybit #NextLevelProducts
The issuer is solely responsible for the content of this announcement.
About Bybit
Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.
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