• Bybit announces the introduction of leveraged token products for its spot market.
• The tokens BTC3L, and BTC3S are the two initial leveraged tokens.
• Bybit advises short-term investments in leveraged tokens.

Bybit officially announces the launch of its leveraged token products via spot exchange. BTC3L, and BTC3S are the two Bitcoin leveraged tokens that Bybit will be offering.

Bybit’s co-founder Ben Zhou is the CEO.

We’re always on the lookout for new ways to assist our customers in capturing market opportunities. Leveraged tokens make a fantastic addition.

Bybit claims these leveraged tokens allow traders to benefit from leverage while taking no collateral or margin risks. They have no margin requirements, which allows traders to enjoy a more diverse product and greater potential for gains.

The virtual assets platform says that each leveraged token is a basket of perpetual contract positions that can be traded on Bybit’s spot exchange. A leveraged token can be purchased by traders to gain exposure to leveraged trades, without the fear of being liquidated or having your margin called.

Bybit’s new leveraged tokens, BTC3L and BTC3S, and BTC3 represent long and short trades on BTC with 3x leverage. Bybit suggests using leveraged tokens for short-term investment. More information is available on Bybit’s website to assist users in understanding the product.

Founded in 2018, Bybit is one of the world’s fastest-growing cryptocurrency exchanges. Online spot and derivative trading, mining, staking, and API support are all provided by the company to institutional and retail clients. Dubai serves as the exchange’s headquarters.

Continue reading on CoinQuora