- Bybit has announced its expansion into the crypto Spot Trading market.
- The new spot trading platform with zero maker fee opens on July 15, 6 AM UTC.
- Crypto spot is significant for derivatives traders engaging in hedging strategies.
Today, crypto derivatives leader Bybit has announced its expansion into the crypto spot trading market. According to Bybit, the new spot trading platform with zero maker fee opens to all on July 15, 6 AM UTC.
Upon launch, the supported trading pairs are BTC/USDT, ETH/USDT, SRP/USDT, and EOD/USDT. They shared that more trading pairs will follow shortly.
Of note, a spot trade allows traders to buy and sell the crypto-asset “on the spot” and at the current market rate once an order is filled. In the spot market, ownerships of crypto assets are transferred directly between buyers and sellers.
Clearly, the crypto spot is not only a foundational starting point for new market entrants but a complementary vector for derivatives traders engaging in hedging strategies.
Co-Founder and CEO of Bybit Ben Zhou shared his excitement on this expansion saying,
It has been Bybit’s utmost privilege to have enjoyed the ardent support of our community and partners as we continue to grow and improve. We are excited to bring with us to spot trading the world-class liquidity and reliability derivatives clients have come to associate with Bybit.
On another note, Bybit is a cryptocurrency exchange established in March 2018. They offer a professional platform for crypto traders. Moreover, the company provides innovative online trading services and cloud mining products, as well as API support, to retail and professional clients around the world.
Apart from this, liquidity is arguably the be-all and end-all attribute for asset exchanges. According to Skew Analytics, Bybit’s derivatives trading platform has the world’s best liquidity and tightest spread. In fact, traders are ensured the best quote and best execution in the market even during extreme volatility.
Bybit has indeed proven itself to be the most reliable, stable, and usable exchange of the bull run. Without a doubt, it is unique among major exchanges as Bybit experienced no overload nor downtime throughout.