KEY TAKEAWAYS
- Bybit has launched eight new assets on its Web3 platform, expanding into on-chain trading and DeFi activities.
- The platform’s integration with the Unified Trading Account simplifies user interaction with Web3, enhancing security and user experience.
- New assets can be purchased using USDT, USDC, SOL, or BBSOL, but cannot be withdrawn externally, only sold back into supported currencies.
- Bybit warns users of the significant risks involved in cryptocurrency trading, advising them to understand the risks before investing.
Cryptocurrency exchange Bybit has announced the launch of eight new assets on its Web3 platform. The announcement, made here, highlights the platform’s expansion into on-chain trading and decentralized finance (DeFi) activities.
Bybit’s Web3 platform allows users to engage in these activities using their Unified Trading Account (UTA), eliminating the need for external wallets or gas tokens. This integration aims to simplify the process of interacting with Web3, enhancing security and user experience.
New Assets and Trading Features
The newly launched assets include Ava AI (AVA), Illusion of Life (SPARK), TROLL (TROLL), The Spirit of Gambling (Tokabu), Housecoin (House), unstable coin (USDUC), Uranus (URANUS), and PYTHIA (PYTHIA). These assets can be purchased using USDT, USDC, SOL, or BBSOL directly from the UTA account.
Once acquired, users can view their Web3 assets in the Assets section under Trade/Web3 on the app or the Holding section on the website. The platform also allows for the sale of these tokens, with proceeds automatically credited back to the UTA in supported currencies.
Limitations and Risk Considerations
It is important to note that Web3 assets purchased via Bybit cannot be withdrawn externally. However, they can be sold back into supported currencies. Bybit has issued a risk warning, emphasizing that cryptocurrency trading involves significant risk and may result in the loss of invested capital. Users are advised to fully understand the risks and consider their experience and investment objectives before trading.
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