- Bitget has introduced Liquid Staking Derivatives (LSDs) as a margin option.
- Traders have gained flexibility with access to the liquidity of staked assets without unstaking them.
- LSDs as a margin have allowed for more efficient use of assets.
Bitget, the esteemed crypto derivatives and copy trading platform, has unveiled a groundbreaking addition to its offerings: Liquid Staking Derivatives (LSDs) as a margin option for Bitget Coin-margined Futures.
This move establishes Bitget as the first centralized exchange to introduce such pioneering products to the market, setting a new standard for the industry.
Crypto Futures Margined with Bitget Coin and Staked Assets
Bitget Coin-margined Futures is a unique product tailor-made for crypto-enthusiasts, enabling support for multiple currencies as a margin for a diverse array of futures trading pairs.
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Including LSDs as collateral empowers traders to tap into the liquidity of their staked assets without the need to unstake them. Presently, Bitget supports stETH as collateral for the initial rollout, with plans to broaden support for additional assets as LSDs collateral soon.
The utilization of LSDs as a margin presents a plethora of benefits for cryptocurrency traders. It amplifies flexibility and diversification, facilitating superior risk management and potentially offering a more streamlined approach to leveraging staked assets for trading purposes.
This can be especially advantageous for traders aiming to expand their trading strategies beyond holding or staking cryptocurrencies. Furthermore, utilizing LSDs as a margin can bolster the liquidity of staked assets.
Earn Staking Rewards While Increasing Cryptocurrency Liquidity
By simultaneously earning staking rewards while providing liquidity for trading, LSDs can stimulate a more dynamic trading ecosystem and potentially enhance the overall value of staked assets.
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With the inclusion of this feature, Bitget continues to solidify its position as the leading crypto derivatives trading platform, renowned for its multiple innovative products. Traders can now capitalize on this novel addition by logging into their Bitget account and selecting LSDs as a margin option.
On the Flipside
- Introducing LSDs as margin options could increase the risk of potential losses for traders, as it involves leveraging staked assets for trading purposes.
- Not all cryptocurrencies are currently supported as collateral for LSDs on Bitget, with stETH being the only asset available for the initial rollout.
- While it may offer increased flexibility and diversification, it also carries inherent risks that traders should carefully consider before use.
Why You Should Care
Being the first centralized exchange to offer such innovative products, this move sets a new standard in the industry, providing traders with increased flexibility, diversification, and potential for more efficient use of staked assets for trading.
To learn more about the debut of Bitget’s BGB token on Bitfinex, boosting liquidity, read here:
Bitget’s BGB Token to Debut on Bitfinex, Boosting Liquidity
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