We’re pleased to announce that you can now trade on Overbit using USD Tether. This is a new feature for you, our traders, that will allow you greater flexibility over how you store your assets.
As a leading bitcoin margin trading platform, we’re proud to offer you a diverse range of markets to trade. You can use your bitcoin to trade cryptos, as well as traditional markets like forex and commodities. Now you can add deposits in Tether (USDT), too.
The Growing Importance of Stablecoins in Trading
Stablecoins have been gaining support in the cryptocurrency space as an effective way of countering the volatility of BTC and other cryptocurrencies. By adding a stablecoin deposits option, we aim to give our traders exclusively trading in bitcoin the chance to reduce your risk by holding your assets in Tether.
As the fourth-largest cryptocurrency, Tether has a current market capitalisation of around $6.3bn. One Tether is pegged to the US dollar on a one-to-one basis and fully secured by the monetary reserve of the Tether platform.
We chose Tether as it is the most popular stablecoin in the industry and listed on most major spot exchanges. This will allow Overbit to appeal to more spot traders who now have another bitcoin margin trading platform to choose from offering 100X leverage and tether deposits. They’ll also have exposure to markets not available on most cryptocurrency derivatives exchanges.
Advanced traders prefer to hold assets in USDT
We at Overbit recently held a survey of more than 2,500+ traders from 90 countries. We found that professional and advanced traders prefer to hold the majority of their assets in Tether.
By adding Tether deposits, our traders can now deposit in USDT and buy and sell margin contracts on bitcoin, other cryptos, forex, and commodities. This means that crypto-only traders will have different markets to trade, particularly appealing at a time of increased economic uncertainty and market selloffs generated by the coronavirus pandemic.
$20 USDT Bonus for All Traders
To kick off the start of our USDT deposits, we will be giving a $20 USDT bonus to anyone who has ever deposited with Overbit. The USDT bonus will be credited to your account immediately and will expire when a withdrawal is made, or after 30 days.
Other New Features Besides
If you haven’t checked out our platform lately, we’ve undergone a major overhaul to improve risk management for our traders and provide a more seamless trading experience.
Some of the new features include cross and isolated margin functions, as well as the choice of whether to trade using fees or spread. There is also a mobile web interface for trading on the go and a simple vs Trading View charting feature. Find out more here.
Margin trading carries a high level of risk to your capital and you should only trade with money you can afford to lose. Margin trading may not be suitable for all traders, so please ensure that you fully understand the risks involved, and seek independent advice if necessary.
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