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Go to a new level of derivative trading with crypto -base
Find out how to effectively use this new tool to bring your trading derivatives to a new level.
But first, let’s figure out what cryptocollays are.
Cryptosaims are a financial tool for covering short -term liquidity needs. It allows you to receive funds without the sale of existing crypto acts. Instead, you can use crypto assets as a collateral and get a loan in coins (for example, BTC, ETH or XRP) or such stabilcoins as USDT, USDC and others.
Advantages of crypto -base
Large selection of coins for pledge and loan: Thanks to our wide choice, you will definitely find what you need.
Early repayment: You can repay the loan at any time before its expiration without additional commissions. After the loan returns, it remains only to pay interest, the amount of which depends on the number of hours of use of the loan.
Low interest: We offer attractive interest rates. On Bybit hourly interest rates in cryptosaims start at 0.0002%. Interest is accrued at the hourly rate.
Means can be used for any purpose: Borrowed cryptocurrency can be used in the Bybit ecosystem for any purpose. Borrowed funds can be directed to spotto and derivative trading or put into stake in EARN products.
Funds can also be removed and used for personal purposes!
New capabilities of derivative trade
Many traders simultaneously hold spotto and derivative positions. But what to do if the market goes against an open derivative position, there is not enough margin, and to replenish it does not want to close the deal on the spot?
Just use sport assets as a pledge, get cryptocurrency on credit (in the currency that is necessary for margin), and then transfer funds to a derivative account to replenish the margin!
Consider an example. Alice holds a long position on the unlimited BTCUSDT contract and the position in ETH on the spot.
The price of BTCUSDT is falling, which is why What is ERC-20, Alice has a lack of margin. She can borrow USDT on the security of her assets ETH. Then she can transfer the borrowed USDT to a derivative account to replenish the margin and avoid liquidation.
When the price of BTCUSDT grows, it will be able to transfer the USDT back from a derivative account to a spare one to return the loan and extinguish the interest.