- Bybit users can make more efficient use of their assets and earn extra income via the crypto exchange's passive income and trading products.
VICTORIA, SEYCHELLES - Media OutReach - 10 October 2022 - Bybit, the world's third most visited crypto exchange, today launched its Crypto Loans service, which provides the platform's 10 million users access to collateralized loans allowing them the freedom to manage their own capital efficiency.
Bybit's Crypto Loans allow users to access liquidity without needing to sell their cryptocurrency. Instead, they can use their digital assets as collateral to borrow popular coins like BTC, ETH, and or XRP, as well as stablecoins like USDT and USDC.
Bybit Crypto Loans come with a host of advantages: loaned funds are available immediately and can be repaid at any time with no penalties; they come with excellent interest rates and there are even preferential rates available. Finally, paying back the loan is a matter of a few simple clicks.
The ability to take out loans against idle funds allows investors to make their capital work harder, go further, and maximize opportunity costs. It also provides the ability to hedge portfolios and take out short, and delta-neutral positions.
For example, Bybit users who don't want to sell their assets can take out a loan to perform a short-term trade, buy a passive income product from Bybit Earn that earns a higher rate of interest than the cost of the loan, or even withdraw the funds to spend elsewhere. In particular, USDT Perpetual traders can increase their Position Margin by collateralizing their assets and borrowing USDT to add to their margin.
"There are vast opportunities for our investors in this bear market," said Ben Zhou, co-founder and CEO of Bybit. "Bybit Crypto Loans provide maximum flexibility. Savvy users can now put their stablecoin and crypto stacks to work to increase their crypto asset holdings, and take advantage of the many trading and passive income opportunities available on Bybit and beyond."
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About Bybit
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
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