CJ - Cryptocurrency Enthusiast
On its spot exchange, Bybit has formally announced the debut of leveraged token products. BTC3L and BTC3S are the first two Bitcoin leveraged tokens on the network.
Bybit's co-founder and CEO, Ben Zhou, says the company is excited to provide clients with another fantastic trading option with the debut of leveraged tokens.
We're constantly searching for new methods to assist our users in taking advantage of crypto market investment opportunities, and leveraged tokens are a great fit. These leveraged tokens, according to Bybit, are short-term investment vehicles that allow traders to benefit from leverage without having to worry about margin, collateral, or liquidation issues. The company also mentions that there is no margin requirement, giving traders a more varied product with more opportunities to trade crypto and profit.
According to the virtual crypto buying platform, each leveraged token is a collection of positions in perpetual contracts that may be traded on Bybit's spot market. According to the document, traders can now purchase a leveraged token for exposure to leveraged transactions without worrying about margin calls or liquidation.
BTC3L and BTC3S, as well as BTC3, are new leveraged tokens from Bybit that represent long and short Bitcoin trading with 3x leverage. Leveraged tokens are a good short-term investment, according to Bybit. The platform's website contains extra information to help people properly comprehend the product.
After being established in 2018, Bybit is now among the cryptocurrency exchange platforms with the fastest expansion rates. The company's online spot and derivatives trading services, mining and staking solutions, an NFT marketplace, and API support are used by retail and institutional clients all over the world. The headquarters of the exchange are in Dubai.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards