PRESS RELEASE. Victoria, Seychelles, April 26, 2023 — bitgetthe best crypto derivatives and copy trading platform, announced the addition of Liquid Staking Derivatives (LSD) as a margin option for Bitget Coin-margined Futures, making it the first centralized exchange to offer such products in the market. This new feature will allow traders to continue earning staking rewards while using their staked assets for trading purposes.
Bitget Coin-margined Futures is a unique product designed for crypto enthusiasts, supporting multiple currencies as margin for various futures pairs. With the introduction of LSDs as collateral, traders can now access liquidity from staked assets without having to withdraw them. Currently, Bitget supports stETH as collateral for the first deployment and plans to expand support for more assets for LSD collateral in the future.
Using LSD as margin offers a range of benefits to cryptocurrency traders. It offers increased flexibility and diversification, helping users manage risk more effectively and potentially providing a more efficient way to use staked assets for trading. This can be particularly beneficial for traders looking to expand their trading strategies beyond holding or staking cryptocurrencies. Additionally, using LSDs as margin can help investors increase the liquidity of staked assets. By earning staking rewards while providing liquidity for trading, LSDs can create a more vibrant trading ecosystem and potentially increase the overall value of staked assets.
“With this latest addition, Bitget continues to solidify its position as the leading crypto derivatives trading platform with multiple innovative products. Traders can now take advantage of this new feature by logging into their Bitget account and selecting LSD as their margin option. By offering LSD as a margin option, we provide our users with greater flexibility and more diverse trading strategies, which we believe will drive innovation and growth in the cryptocurrency derivatives market. We are proud to be the first exchange to offer this state-of-the-art functionality and are excited to continue to lead the way in providing our users with the most advanced trading tools and options.“ said Gracy Chen, CEO of Bitget.
Bitget is a leading crypto derivatives exchange, which launched the industry’s first USDT-margined futures and USDC-margined products. According to Coingecko, Bitget is currently one of the top 5 futures trading platforms supporting over 170 futures pairs.
Created in 2018, bitget is the world’s first cryptocurrency exchange with futures and copy trading services as its main features. Serving more than 8 million users in over 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentine footballer Lionel Messi, top Italian soccer team Juventus, and official eSports event organizer PGL. According to Coingecko, Bitget is currently one of the top 5 futures trading platforms and one of the top 10 spot trading platforms.
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