KEY TAKEAWAYS
- Bybit Alpha introduces a new asset, The Blue Whale, for on-chain trading, enhancing user experience by eliminating the need for external wallets or gas tokens.
- Users can trade directly from their Bybit Unified Trading Account, simplifying DeFi and on-chain activities.
- Traders can buy and sell tokens using USDT, USDC, SOL, or BBSOL, with proceeds automatically reflected in their accounts.
- Bybit warns users about the significant risks involved in cryptocurrency trading and advises seeking independent financial advice.
Bybit Alpha has announced an upgrade, introducing a new asset available for on-chain trading. This enhancement allows users to trade without the need for external wallets or gas tokens, offering a streamlined experience.
Through Bybit Alpha, users can engage in decentralized finance (DeFi) and on-chain activities directly using their Bybit Unified Trading Account (UTA). This integration provides a secure and straightforward method for trading, eliminating the need to switch platforms or manage external wallets.
The newly added asset, The Blue Whale (ticker: BlueWhale), is now live for trading. Users can utilize USDT, USDC, SOL, or BBSOL directly from their UTA to purchase tokens. Once acquired, these on-chain alpha assets can be viewed under the ‘Trade/Alpha’ section on the app or the ‘Holding’ section on the website.
Traders have the flexibility to sell tokens at any time using the same interface. The proceeds from these transactions, in the form of USDT, USDC, SOL, or BBSOL, will automatically appear in their UTA. However, it is important to note that on-chain assets purchased via Bybit Alpha cannot be withdrawn externally but can be sold back into supported currencies.
For more details on this update, visit the official announcement here.
Bybit has issued a risk warning, reminding users that cryptocurrency trading involves significant risk and may result in the loss of invested capital. It is advised that traders fully understand the risks involved and consider their level of experience and investment objectives. Seeking independent financial advice is recommended if necessary.
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