Leading global cryptocurrency exchange and Web3 company, Bitget, has announced the integration of Ethena Labs’ synthetic USD (USDe) as a margin for coin-based contract trading. The introduction of this new secure synthetic USD will enrich trading options and provide users with diversified trading experiences. The margin trading for coin-based contracts supports multiple currencies for over 230 contract trading pairs on the Bitget platform.
Ethena has already implemented the creation and redemption of the synthetic USD (USDe), which is a scalable and censorship-resistant form of currency. The mechanism supporting USDe has achieved the first “online bond”, offering a value-added, USD-denominated cryptographic tool.
USDe is the seventh currency to be added as a margin option on Bitget, joining BTC, ETH, USDC, XRP, BGB, and STETH. The inclusion of USDe brings numerous advantages to Bitget users, expanding the range of trading strategies and meeting the diverse needs of individual traders. Using USDe as margin can improve capital efficiency and optimize asset allocation. Through USDe, users can enjoy a more stable, convenient, and flexible trading environment.
Gracy Chen, CEO of Bitget, stated, “Bitget continuously provides world-class trading resources to users, whether it’s market insights, DeFi, or any other related trading optimization mechanisms, we have it all! Just a year ago, USDe did not exist, but now it accounts for about 3% of stablecoin supply. This growth demonstrates the potential of the USDe mechanism, and we are pleased to continue supporting innovative native crypto projects and collaborating with them.”
To use USDe as margin for coin-based contract trading on the Bitget platform, users only need to follow a few simple steps:
1. Transfer funds of USDe into the coin-based contract account.
2. Enter the contract trading interface and select the coin-based contract.
3. Choose the trading pair (e.g., BTCUSD) and select USDe as the margin.
4. Adjust leverage based on personal risk tolerance and trading strategy.
Users can place buy/sell orders and other types of orders based on market analysis, monitor positions and market conditions, manage risks using stop-loss and take-profit orders, and ensure profits. When the trade reaches the predefined profit or loss range, users can close it at the market price or limit price.
Bitget has been committed to continuous innovation and optimization, striving to provide efficient and convenient trading services to users. Bitget meets people’s demand for more flexible derivative products and utilizes emerging technologies such as artificial intelligence to help 25 million users manage and diversify their investment portfolios.
For more details, please refer to Bitget’s announcement.
About Bitget:
Founded in 2018, Bitget is a leading global cryptocurrency exchange and Web3 company. Bitget currently serves over 25 million users in more than 100 countries worldwide, dedicated to helping users trade more intelligently through its innovative copy trading feature and other trading solutions.
Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain cryptocurrency wallet that offers a comprehensive range of Web3 solutions and features, including wallet functionality, exchanges, NFT marketplaces, DApp browsers, and more. Bitget encourages the adoption of cryptocurrencies through partnerships with Argentine football legend Lionel Messi and official esports event organizer PGL.
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