By Bitget Becomes The First To Support Liquid Staking Derivatives As Collateral For Futures
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Victoria, Seychelles, April 26th, 2023 — Bitget, top crypto derivatives and copy trading platform, has announced the addition of Liquid Staking Derivatives (LSDs) as a margin option for Bitget Coin-margined Futures, making it the first centralized exchange to provide such products on the market. This new feature will allow traders to continue earning staking rewards while also utilizing their staked assets for trading purposes.
Bitget Coin-margined Futures is a unique product designed for crypto-enthusiasts, supporting multiple currencies as a margin for various futures trading pairs. With the introduction of LSDs as collateral, traders can now access the liquidity of staked assets without having to unstake them. Currently, Bitget supports stETH as collateral for the first rollout, and plans to expand support for more assets for LSDs collateral in the future.
Using LSDs as a margin offers a range of benefits for cryptocurrency traders. It provides increased flexibility and diversification, helping users manage risk more effectively and potentially offering a more efficient way to use staked assets for trading. This can be particularly advantageous for traders looking to expand their trading strategies beyond holding or staking cryptocurrencies. Furthermore, using LSDs as a 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 LSDs as a margin option. By offering LSDs as a margin option, we are giving our users greater flexibility and more diverse trading strategies, which we believe will drive further innovation and growth in the cryptocurrency derivatives market. We are proud to be the first exchange to offer this cutting-edge feature and are excited to continue leading the way in providing our users with the most advanced trading tools and options.” said Gracy Chen, Managing Director of Bitget.
Bitget is a top crypto derivatives exchange, which launched the first USDT-margined futures and USDC-margined products in the industry. According to Coingecko, Bitget is currently a top 5 futures trading platform supporting 170+ futures trading pairs.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 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 Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.
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