Dear BIT Users,
We are thrilled to announce the launch of BIT Spot Plus - Square Options, revolutionizing your access to the crypto markets. With our new product built in partnership with VETA Finance, gaining leveraged exposure to Bitcoin and Ethereum has never been easier or more accessible. This marks the first of its kind in the crypto market, providing users with the opportunity to amplify their investments.
Square Options provide leveraged gains when Bitcoin or Ethereum's price moves in the desired direction:
BTC²UP: allows you to generate leveraged gains when Bitcoin increases in price
BTC²DOWN: allows you to generate leveraged gains when Bitcoin decreases in price
ETH²UP: allows you to generate leveraged gains when Ethereum increases in price
ETH²DOWN: allows you to generate leveraged gains when Ethereum decreases in price
Square Options amplify potential gains, offering traders unique opportunities in various market conditions. By adopting a non-linear profit structure, gains are more rapid during upward movements, generating noticeably higher profits compared to regular investments. However, fluctuations in the underlying asset may lead to rapid decline in token values over short periods.
Our Square Options are monthly tokens, expiring on the last Friday of each month, aligning with BIT's trading schedule.
It's important to note that the tokens circulate internally within BIT through bookkeeping. These tokens are off-chain and do not support deposits, withdrawals, or transfers.
Get Ready to Trade
We are excited to bring you this innovative trading product, empowering you to leverage your crypto investments with ease. Stay tuned for more updates and start trading Square Options on BIT Spot Plus today!
Happy Trading!
About VETA Finance
VETA Finance is the world’s first on-chain platform that supports margin trading of structured products, including the entire service chain of decentralized financial platforms, structured product quotations and operations for Exchanges & other channels.
Risk warning
Square Options tokens provide leverage similar to or even higher than perpetual contracts, without the need for margin maintenance and without any liquidation risk. While users do not need to worry about liquidation risk, the non-linear nature of Square Options prices is greatly influenced by fluctuations in the underlying asset price, which may result in a sharp decline in token value in the short term. If your option is still not profitable at expiration (taking buying options as an example, where the underlying asset price is below the strike price), the token price will drop to zero. When the underlying asset price approaches the strike price, option prices become more sensitive to factors such as volatility and time to expiration. Holding other factors constant, as the expiration date approaches, the value of the option will decline at a faster rate.
Here at BIT, we strive to provide you with the best trading experience.
Download APP now.
Thank you for your support!
BIT Team
April 30, 2024
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