Devour (DPAY) news

BGB Is Now Available On Bitget Futures Market: Fuelling The Growth Of A Robust Ecosystem

Three years and 18 new ATHs, BGB is now finally available on the Bitget Futures Market - first with USDT as margin! Let's revisit Bitget's vision for itself as well as for BGB to see how this is inevitable. The Mutually Beneficial Relationship Between Bitget And BGB Bitget and our native token, BGB, share a mutually beneficial relationship where each supports and enhances the value and functionality of the other. This interdependence is particularly evident when BGB is available on both Bitget Spot and Futures markets. BGB Can Benefit From The Established Reputation Of Bitget As a leader in the sector, Bitget can guarantee the success of BGB, especially as we continue to expand our products and services in even more countries and regions. BGB can have improved liquidity through increased trading volume: The introduction of the perps market for BGB means higher aggregated trading volume across both spot and futures markets, which show active trading derived from strong user interest from a big cryptocurrency exchange like Bitget. This leads to improved liquidity, i.e. the ability of BGB to handle large trades without causing a ripple price impact. At the same time, high trading volume reduces volatility and enhances market stability, making BGB more attractive to both retail and institutional investors and boosts its reputation. The availability of sophisticated financial tools like futures for hedging/risk management against market fluctuations and leverage for amplified profits on the same platform provides convenience and assurance for even the most cautious investors and should attract more institutional investors. Bitget can foster more efficient price discovery and better price stability for BGB: Perpetual futures contribute to more efficient price discovery by aggregating diverse market opinions and information. This continuous trading helps reflect a more accurate value of BGB. Since traders can now speculate on BGB's future price movements, they have the power to influence the market’s perception of its value - but the considerable number of traders on Bitget ensures fair evaluation of BGB rather than price manipulation, and thus should support more balanced and stabilised pricing over time. Don't forget that Bitget's trading fee discounts and incentive programs for BGB demonstrate operational success and financial health of our platform to reassure investors and stakeholders of BGB's stability and attractiveness. Bitget Can Benefit From Market Maturity, Credibility, And Success Of BGB As BGB is able to enjoy increased higher levels of market participation, this will, of course, become a new revenue stream for the platform's operational success. Meanwhile, it can also serve as proof of Bitget's credibility in that (1) Bitget can handle trades on any market of any size without significant impact, and (2) Bitget is able to attract and retain a diverse range of users with our various products and services, from retail traders to institutional giants. In the first month of 2024 only, BGB broke its all-time high no less than 6 times and, as a result, is the reason for many new user registrations on Bitget. BGB holders are direct beneficiaries of Bitget's expansion and growth, therefore this sustainable financial model should definitely support Bitget long-term prosperity. The Launch Of The Perpetual Futures Market For BGB And Future Outlook BGB is on a trajectory of remarkable growth driven by its strong fundamentals and the innovative strategies employed by Bitget. It has already demonstrated its resilience and potential by reaching consecutive new all-time highs and outperforming many other cryptocurrencies despite market fluctuations. The launch of a perpetual futures market is poised to further elevate BGB's standing in the crypto ecosystem by significantly enhancing liquidity and market depth to make sure that BGB markets remain active and robust for all retail and institutional investors who require liquid markets for their strategies. High liquidity also diminishes volatility and enhances market stability, which in turn boosts investor confidence and BGB's overall appeal. By providing a platform for continuous trading and speculation of BGB, Bitget Futures Trading makes it clear that the token’s price accurately reflects its intrinsic value based on comprehensive market information to further build up trust of well-functioning and transparent BGB markets among investors. If BGB continues to break new ground and set higher benchmarks, we can pin our faith on the solidification of BGB's status as a blue-chip cryptocurrency, Bitget’s position as a leading cryptocurrency exchange and the realisation of a robust ecosystem that benefit all parties involved. How To Trade BGBUSDT Perpetual Futures Below is the simplified guide on trading BGBUSDT on Bitget Futures Trading: Step 1: Transfer USDT to your futures account. Step 2: Choose the BGBUSDT futures trading pair. If you're on your laptop, simply click on this link. If you use the Bitget mobile app, select the BGBUSDT pair. Step 3: Choose the margin mode (cross/isolated). Step 4: Set the leverage. Step 5: Select the order type. Step 6: Review your order and click on [Buy] to place a long order or [Sell] to place a short order. If you want to get familiar with all features of Bitget Futures Trading real quick, we recommend you devour every guide on this list: What Are Futures? Key Futures Trading Terms and Their Application Scenarios A Comprehensive Introduction to USDT-M Futures, USDC-M Futures, and Coin-M Futures How To Make Your First Futures Trade Calculation of Funding Rates in Futures Trading Futures Transaction Fee Calculation How to Avoid Liquidation Introduction to Futures Trading Modes Introduction to Margin Mode Introduction to Futures Order Types Introduction to Take Profit and Stop Loss (TP/SL) in Futures Trading

Country Roads, Take Me Home: BTC Surpassed US$72K, ETH Crossed US$4K

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, which sums up BGB performance, what's new at Bitget, and the latest market movements. The latest Bitget Hot Takes can be found here: All About Bitget | Market Updates Central Themes • Straight up to US$72K: Bitcoin shot up to US$70K on Friday then US$71K and US$72K yesterday. • Ethereum smashed US$4K for the first time since December 28, 2021 ahead of the Dencun upgrade. • Crypto stocks saw red as the wider TradFi markets brace for inflation data and FOMC. Week 10: Bitcoin Is Not The Only One To Record A New ATH Bitcoin returned the record made in November 2021 by breaching US$68,500 on March 04, 2024. In our analysis of the event, we did mention that US$68,789 in November 2021 would be equal to US$76,329 in January 2024, and therefore Bitcoin may very well break its own record this year. For the short term a.k.a. as a matter of hours after any high, there tend to be immediate corrections to wipe up those overleveraged and/or fomo long positions, which perfectly explains why BTC fell to US$62.3K (-9%) in less than 12 hours. Regardless, funding rates across exchanges remained at insane levels of 0.06% or more, representing the unwavering bullish sentiment and thus once again bringing BTC prices to US$69,170 on the very next day. The process was repeated again and again: • on March 05: Bitcoin made a new all-time high at US$69,170 before crashing to US$59,324 (-14%); • on March 06: Bitcoin rose to a daily high at US$67,637 before crashing to US$62,849 (-7%); • on March 08: Bitcoin recorded a new all-time high at US$70,083 before crashing to US$66,230 (-5%). As BTC constantly challenged skeptics with new ATHs, there's a reason for crypto stocks to demonstrate so humble returns compared to those of last weeks: the upcoming CPI data, which will be released later today (March 12) with current forecasts of 3.1% YoY, 0.4% MoM for the headline inflation and 3.7% YoY, 0.3% MoM for the core inflation. These numbers play a vital role in the FED's rate cut path - something that is supposed to take place this year based on Powell's recent testimony to the Congress. Volume of GTC was on par with FBTC - both only second to IBIT - but for the same not-so-merry reason. More than US$1.8 billion flew out of GBTC last week, almost double that of W9. We again believe that's capital being reallocated to other new-born Bitcoin ETFs such as IBIT and FBTC. It's important to note, though, that ProShares Short Bitcoin Strategy ETF (BITI) saw a net outflow for the first time since February 08 on March 07, one day after BlackRock's IBIT experienced a new record daily inflow at US$788,290,000. Outflow from hedging tools and inflow for investments? Definitely not play field for bears. If the Father a.k.a. BTC has spoken, then the Mother (of all altcoins) has no reason to stay quiet, especially with the upcoming Dencun upgrade that should benefit all L2s built on Ethereum. The last time we saw sharp increases like this in ETH prices was way back in 2021, a really really long time ago because of Terra (LUNA) fall and FTX collapse in 2022. It had been hovering right below US$4,000 for most of the week, with funding rates close to BTC's. Notable for the week is the memecoin frenzy : there are six memecoins in the list of Top 10 Cryptocurrencies (DOGE, SHIB, PEPE, BONK, WIF, and FLOKI ), Solana-native WIF officially entered the US$1B-market cap club, and this phenomenon is the reason behind Ethereum's sudden surge in gas fees. Eager to share the fun of internet jokes? Join Bitget Meme Mania to win four of the largest memecoins! However, memecoins had to share the spotlight with AI tokens and another (rather unexpected) category, GameFi. Data shows that the market cap of GameFi tokens combined has increased by 6% on Sunday compared to the overall market's 2.2% expansion. AI tokens also brought in decent gains last week, for example GRT/USDT, INJ/USDT, RNDR/USDT, FET/USDT, and AGIX/USDT. Setting The Tone: Monday Performance 'To the place I belong' must be Bitcoin's mantra recently. Not only did it surpass US$71,000 but the largest crypto pushed through it all the way 'til US$72,850 yesterday, and funding rates still show something much above 0.01%. Yesterday was indeed a big day, for Ethereum easily jumped to the other side of US$4,000 only hours before blobs went live today. To know what blob is, take some time to really devour this article, where we already simplify everything you need to know about Ethereum Dencun upgrade. Coinbase and MicroStrategy's stocks dipped harder than the broader tech market (the NASDAQ Composite was down by 0.4%) and SP 500 (-0.1%). Demand was still good for spot Bitcoin ETFs, with IBIT showing over US$3 billion in 24-hour volume and combined volume being only slightly lower than Friday. Trade BTC and ETH on Bitget today: Bitget Spot Trading | Bitget USDT-M Futures | Bitget Coin-M Futures | Bitget Copy Trade New Events BTC ETH offer — Enjoy a 100% fee rebate on credit/debit card purchases! 100% guaranteed: Spin to win 500,000 BGB, XRP, ADA, BTC, and more! Buy crypto with VND/IDR/MYR/THB/PHP via GEO Pay with 0% fees! Extended! New user exclusive: Buy crypto to get up to a 50% rebate! Extended! Institutional accounts only: deposit EUR for a free 30-day VIP pass! Join the Bitget x Devve Community Campaign Now to Claim Your Special $8,500 DEVVE Rewards! Join the Bitget x Scallop Community Campaign Now to Claim Your Special $2,000 SCA Rewards! Complete net deposit and spot trading tasks on CandyBomb to earn NUUM! Complete net deposit and spot trading tasks on CandyBomb to earn REACH! Join the Bitget x MNet Community Campaign Now to Claim Your Special $2,000 NUUM Rewards! Join the Bitget x Alvara Community Campaign Now to Claim Your Special $2,000 ALVA Rewards! BTC price reaches an all-time high! 9000 BGB up for grabs! Join the Bitget x CoinNess Community Campaign Now to Claim Your Special $2,000 NESS Rewards! Trending coin carnival — Grab a share of 50,000 BGB in the AI Zone Complete net deposit and spot trading tasks on CandyBomb to earn NESS! Good Reads How Ethereum's Dencun Upgrade Will Affect the Crypto Market All You Need To Know About Ethereum Dencun Upgrade - Simplified "We are so back", "LFG", "Up only": Bitcoin Recorded The New ATH At 69K Bitcoin Halving: Will We Land on the Moon? Memecoin Season Is Unstoppable Simply create an account , and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (March 06 - March 12)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. Bitget Hot Takes last week can be found here. Central Themes • Indicators suggest that BGB is on another upward course. • Out of business: Silvergate, Silicon Valley Bank and Signature Bank; FED emergency meeting on March 13, 2023. • USDC depegged, causing DAI and USDD to follow suit. Indicators Suggest That BGB Is On Another Upward Course After breaking the record for its all-time high twice in February 2023, BGB has been seeing some cooling sensation since the US$0.51613 mark. However, if we take a look at the relative strength index (RSI), and especially the accumulation/distribution (Accum/Dist) line, BGB seems to be on a quiet upward course over the weekend. Source: TradingView And despite the red in the first half of the week, BGB's 7-day volume didn't see any sell-off; a slightly lower volume also hints at investors’ decision to hold the token. Check out this quick guide to know why BGB has become the new staple: … or devour these detailed BGB analyses: Why BGB Is Your Bluechip Exchange Token BGB Sail: December Edition BGB Sail: November Edition BGB Sail: October Edition BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition When The Banks Fail There are no bigger stories than that of Silvergate, Silicon Valley Bank, and Signature Bank at the moment. Silvergate is, or more precisely, was the most crypto-focused bank with its Silvergate Exchange Network (SEN) - a 24/7 settlement service for big players in the U.S. Source: Silvergate On March 04, Silvergate announced the shutdown of SEN with ‘immediate effect', and rumours across the streets said they already saw a big truck with a loading ramp in front of the Silvergate building before the firm ceased its banking operations on March 08, 2023. The meltdown brought Bitcoin price below 20K due to Silvergate's close ties with crypto markets. In terms of size, Silvergate deposits are a tiny portion of its peers’: Silicon Valley Bank (SVB) and Signature Bank. In 2022, deposits at Silvergate stood at US$6,297,000,000, at SVB US$173,109,000,000 and at Signature US$88,590,000,000. When Silvergate failed, crypto institutions turned to SVB and Signature, thinking they had found the safe on-ramp alternatives. Turns out even a positive return on average total equity can't offset the internal bleeding caused by rising interest rates. Circle is the direct casuality of this chain of events. The stablecoin issuer holds their USD reserve at 8 ‘U.S. regulated financial institutions', including all three aforementioned banks. And the standard Federal Deposit Insurance Corporation (FDIC) insurance is capped at US$250,000 per depositor at each insured bank (SVB and Signature, Silvergate is not FDIC-insured), meaning Circle is currently unable to maintain their 100% reserve for the USD Coin. That explains the FUD behind USDC, which led to insane withdrawal requests and eventually the depegging of USDC. Source: CoinGecko On March 11, 2023, USDC spiralled down to as low as US$0.878874, equivalent to a 12% value loss. Over-collateralisation stablecoins that use USDC for collaterals experienced a similar depeg; in the cases of DAI and USDD, losses were on par with USDC. DAI chart. Source: CoinGecko USDD chart. Source: CoinGecko In response to the event, MakerDAO made an emergency proposal to limit their exposure to USDC and other risks associated with collaterals for DAI: • Increase USDC-DAI swap fees to 1% (to avoid USDC dumping and a further USDC depegging) • Reduce daily mint limit for USDC deposits by 74% (from 950 million DAI to 250 million DAI) • Reduce daily mint limit for GUSD deposits by 80% (from 50 million DAI to 10 million DAI) • Increase daily mint limit for USDP deposits by 500% (from 50 million DAI to 250 million DAI) • Reduce USDC-DAI swap fees to 0% Why was GUSD caught up in this bloodbath, you may ask? Check out our Annual Briefing here, where we examine the volatility of GUSD, together with other stablecoins. In no way linked to either USDC, DAI or USDD, but GUSD became risky after it lost its peg on March 11 and seems to continue to go down. GUSD chart. Source: CoinGecko The way out? FDIC is intervening with the creation of the Deposit Insurance National Bank of Santa Clara (DINB), through which insured depositors can access their full deposits by today (March 13, 2023), and uninsured depositors can receive ‘an advance dividend' within the week from March 13 to March 18. Anyone who has more than US$250,000 stuck at SVB should contact FDIC for direct support. Secured depositors of Signature Bank will also be protected by the FDIC, however, unsecured depositors have to wait for further information from authorities regarding their funds. The Federal Reserve is having an emergency meeting later today to discuss the fallout of SVB, which should impact multiple startups and entrepreneurs who put most (if not all) of their raised funds into SVB. The Latest Bitget News Bitget has fully integrated TradingView on our platform to make trading even more convenient for our users. Check out the guide here: How To Use TradingView To Trade Crypto On Bitget. We are also featured on Yahoo here: Bitget Integrates with TradingView For Crypto Derivatives Trading. Looking for new earning schemes? You have come to the right place: VELO1 is the new Launchpool with a 65% APY and SMART with 60% APY. Both are open for staking at the moment, and two new ones will be available soon. Simply head to Bitget Launchpool and click on Remind Me to make sure you do not miss the chance! In relation to the incident with USDC, we are currently suspending USDC deposits on several chains to ensure a safe trading environment. USDCUSDT trading pair is added to our USDT-Ⓜ️ Futures so that our users can take advantage of the situation at any time! New Events Index Futures BGHOT10USDT is live - start trading! USDCUSDT will be Available on Futures Shanghai Upgrade: Predict Trade to Share 65,700 USDT Win-Win-Win with MOVER, Win $20,000 in MOVER! Bitget x TealStreet Promotion: Share $20,000 in Trading Bonuses! Lucky Draw and 10,000 USDT for Grid Traders International Women's Day! Trade to Share 1Million BGB Buy Crypto with 0 fees through Simplex, $50,000 in BGB up for Grabs! Trade New Copy Trading Pairs to Split 20,000 USDT! Three Rewards! 40,000 USDT for Spot Copy Trading Users! [Bitget VIP] Trade for BGB Airdrop And Lucky Draw! Collect OATs Share the $2000 Prize Pool Friends Carnival Week! Invite Your Friends Now 【50K/Day Followers waiting for you】Navigate Insights 3.0 to grab massive followers $BGB rewards! Bitget Will List Astar (ASTR) in the Innovation Zone - Share $15,000 worth of Rewards! Bitget Will List Velo (VELO1) in the Innovation Zone - Share 6,000,000 VELO1 worth of Rewards! Bitget Will List CryptoGPT (GPT) in the AI Zone - Share 60,000 USDT worth of Rewards! Good Reads Bitget Annual Briefing 2022-23 : The Rational Path Ahead (Part 1) Bitget Annual Briefing 2022-23 : The Rational Path Ahead (Part 2) Index Futures Are Live On Bitget Bitget VIP Trading Fees Explained Start Earning By Copying Trades From The Elites Shardeum: The EVM-Based Layer 1 Solution for Blockchain Trilemma The Battle of Trading Fees: Bitget Comes Out on Top Simply create an account, and start exploring the incredible Bitget-Verse today!

Bitget Hot Takes (February 27 - March 05)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. Bitget Hot Takes last week can be found here. Central Themes • BGB closed the week with a 2.42% increase while others saw minor losses. • Silvergate, Binance under scrutiny. • Yuga Labs new NFT collection on Bitcoin made its debut; winner of Dookey Dash’s top prize sold the key for US$1.6 million. • The Sandbox, then Coinbase warned users of third-party incidents that led to a phishing campaign. Another Good Week For BGB While the drama about Silvergate and Binance took a toll on Bitcoin and Ethereum price, and understandably BNB as well, BGB has been holding on the US$0.40 mark successfully. The token even managed to end the week with a weekly growth rate of +2.42% compared to Bitcoin’s -3.49%, Ethereum’s -1.60% and Binance Coin’s -4.29%. The 7-day volume remains roughly the same (nearly US$100 million), showing a committed demand for BGB. Check out this quick guide to know why BGB has become the new staple: … or devour these detailed BGB analyses: Why BGB Is Your Bluechip Exchange Token BGB Sail: December Edition BGB Sail: November Edition BGB Sail: October Edition BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition Biggest Dramas Of The Week On February 21, Moody’s downgraded crypto bank Silvergate from Ba3 to B2 (high credit risk). Less than two weeks later, the agency once again downgraded Silvergate to B3, deeming the bank ‘less than well-capitalized’ due to ‘significant governance deficiencies’. With the bank entering the ‘speculative’ territory, many crypto companies have terminated their partnership with Silvergate:• Coinbase was the first to announced that they ‘no longer accepting or initiating payments to or from Silvergate’ on March 02, 2023 • Circle: March 02 • Paxos: March 02 • Galaxy Digital: March 02 • CBOE Digital: March 02 • Bitstamp: March 02 • Bybit: March 04 (no name of ‘end-point processing partner’ is specified) On March 02, Silvergate filed a notification with the U.S. Securities and Exchange Commission (SEC) explaining that they won’t be able to submit the annual report for the ‘fiscal year ended December 31, 2022 ‘by the extension date of March 16, 2023’ and that they are evaluating the impact of recent events in the digital industry on their ‘ability to continue’. On March 04, Silvergate closed their 24/7 settlement service Silvergate Exchange Network (SEN), saying ‘effective immediately’. Ever since the demise of FTX, Silvergate has been struggling financially and facing a probe from the U.S. Department of Justice with regards to their FTX ties. Silvergate stock (SI) has become the second-most shorted on Wall Street with 71.31% being shorted, way above the dying Bed Bath Beyond (BBBY) at 57.27%. The second name to be in the spotlight - and not in a good way - is Binance. Following Paxos’ suspension of BUSD minting, Coinbase has decided to suspend the trading of BUSD on March 13 on all their platforms. Meanwhile, Forbes is raising questions about the ‘eerily’ similarities between Binance and FTX’s way of managing customer assets and stablecoin collateral. That adds a massive amount of concerns on the exchange’s credibility, given that Binance once admitted that they failed to maintain a 1:1 backing of their wrapped assets at times. In response to Forbes’ investigation, Binance has published an explanation considered contradictory by many. Binance’s U.S. entity also has to deal with growing problems: first the SEC, the New York Department of Financial Services (NYDFS) and the Attorney General of the State of New York opposed its US$1 billion deal to acquire Voyager Digital’s assets, then Senators on the Senate Banking Committee demand ‘complete copies of all Binance and Binance subsidiary balance sheets from 2017 to the present’, ‘an estimate of the number and percentage of U.S.-based Binance users during every fiscal quarter between 2017 and the present’, ‘complete copies of all written policies and/or procedures regarding the relationship between Binance and Binance.US’ and ‘any and all such communications between Binance’s CEO CZ and employees that the company should eliminate or limit know-your-customer checks or otherwise weaken its anti-money laundering compliance program’ before March 16. On the bright side, the NFT market is able to keep its appeal with data showing that last week’s NFT trading volume on Ethereum reached its peak since May 2022. One of the leader in the NFT sector, Yuga Labs, is experimenting with Bitcoin NFTs for the first time with their TwelveFold collection, which consists of 300 NFTs, among which 288 are up for sale. And their NFT Game Dookey Dash has been nothing short of exceptional: the top scorer prize received a Golden Key and agreed to sell it for 1,000 ETH or ca. US$1.6 million on February 27. The Bank of America is reported to see ‘encouraging signs of Starbucks Odyssey program’s early success’, including the generation of US$93 million in royalties from secondary sales, a total secondary trading volume of US$164,000 and the price of some Journey Stamps hitting US$1,900. And Homebase, a real estate startup, has listed a NFT backed by a Texas house for sale on Solana. The Latest Bitget News Bitget has fully integrated TradingView on our platform to make trading even more convenient for our users. Check out the guide here: How To Use TradingView To Trade Crypto On Bitget. We are also featured on Yahoo here: Bitget Integrates with TradingView For Crypto Derivatives Trading. To celebrate Hong Kong’s ‘open and inclusive’ approach to crypto regulation Bitget has launched our Hong Kong Zone, together with the exclusive event called Bitget Hong Kong Zone Week - with a 50,000 Prize Pool for Deposit Bonus, a $20,000 Prize Pool for Spin-A-Coin and a 56,000 USDT + 8,000 USDT Prize Pool for Daily Rewards! Check out the event here The Hong Kong Zone is available on both Bitget Spot Trading and Bitget Spot Grid Trading as follows:• Bitget Spot Trading: LRCUSDT, MASKUSDT, FILUSDT, HIGHUSDT, SANDUSDT, DENTUSDT, KEYUSDT, CFXUSDT, MDTUSDT, LATUSDT, PHBUSDT, QKCUSDT, QNTUSDT, ACHUSDT, RSS3USDT, DREPUSDT, DODOUSDT • Bitget Spot Grid Trading: LRCUSDT, MASKUSDT, FILUSDT, HIGHUSDT, SANDUSDT, DENTUSDT, KEYUSDT, CFXUSDT, MDTUSDT, LATUSDT, PHBUSDT, QKCUSDT, QNTUSDT, ACHUSDT, RSS3USDT, DREPUSDT, DODOUSDT Looking for new earning schemes? You have come to the right place: We have two new Launchpools of VAI (ongoing) with an APY of 65% and VELO1 (APY 80%) to be opened in three days. Make sure to subscribe and earn juicy rewards: VAI Pre-event VELO1 Pre-event New Events Buy Crypto with 0 Fees and KYC-free, 50,000 BGB up for Grabs! Bitget AI Day : 50,000 BGB Up for Grabs! Learn Launchpad, Grab a Share of the 20,000 USDT Prize Pool Trade New Pairs to Split 20,000 USDT! Don't just HODL, make your assets grow on Bitget - earn passive income with ease! Join Bitget internal AMA with AZERO, win 5200 AZERO! Bitget Hong Kong Zone Week —— Trade HK Zone Token, Only @Bitget! Good Reads Bitget Annual Briefing 2022-23 : The Rational Path Ahead (Part 1) You're invited! Become a strategist on Bitget Strategy Copy Trading What is Arbitrum and Why is It So Popular? Staking Vs Reflection: What Are The Differences?How To Discover Hot Assets With Bitget MegaSwap?Bitget x Trader Cobb: Crypto Trading Made Friendlier What Is Haloworld (HALO)? Reflection Coins: What Are They And How Do They Work? Simply create an account, and start exploring the incredible Bitget-Verse today!

Why You'll Need Crypto Delivery Contracts: A Must-Have Manual For Traders

We are here to help you get to know delivery contracts, the emerging type of crypto derivatives. Continue reading to learn about delivery contracts and why you should add them to your portfolio. What are Delivery Contracts If you are an experienced trader, you must be familiar with perpetual contracts or ‘perps’. If you are new, welcome and be an avid reader - we have several guides around the topic of trading for you to devour after you’ve finished this article: Crypto trading terminologies for beginners What is Futures Trading? What is Margin Trading? What are Perpetual Futures Contracts? A beginner’s guide to crypto trading strategies (Volume I Volume II) Anyhoo, a futures contract in traditional finance (TradFi) is an agreement between two parties to trade a particular asset at a predetermined price at a specific time in the future. When it comes to crypto, we have revolutionised trading with the invention of Bitget perpetual futures - a special type of futures contracts that never expire, meaning you can open/close your position 24/7 and hold them for as long as you want. The beauty of perps lies in the fact that crypto markets are ever-wakeful; we are always on the watch for profitable opportunities. But we are also adopting the TradFi standard: delivery contracts, which are simply futures contracts that have an expiration date. Apparently, the term delivery says that something will be delivered to your account at expiration, meaning you have the chance to lock in a future price of a cryptocurrency and benefit from the difference between the locked-in price and the market price when the contract is closed. That ‘something’ can either be the underlying asset or cash. Most crypto derivatives are settled on a cash basis. Below is a summary of perps and delivery contracts: Element Delivery Contracts Perpetual Contracts The underlying Any asset Any asset, mostly known for cryptocurrencies Expiration date Yes No Settlement method Cash settlement Physical settlement* Cash settlement Cost payments Once at settlement Three times daily** Asset ownership No No * Physical settlement is usually not available in crypto derivatives markets ** Time frame of funding fees will differ between exchanges/brokers Why do we need Delivery Contracts? We are at an unprecedented time in history. Never before has crypto been more welcomed than these days, and never before has it been more lucrative. However, crypto ownership may not be the best option out there due to unclear regulations. Futures give us a way out; we can take advantage of a price position without having to hold or own any crypto asset, and derivatives markets are significantly more liquid. Now let’s get back to the table above. Delivery contract owners have to pay a one-time fee at settlement before the delivery of gains (or losses) takes place. Compared to perps’ funding fees that incur three times a day, delivery contracts appear to be a much more economical choice for long-term traders. Mind you, delivery contracts also serve the purpose of hedging, therefore adding delivery contracts to your portfolio is a sensible move, risk-wise. And a big note here.. Bear markets and sideways are definitely not for the faint of heart, as well as traders who are prone to FOMO (fear of missing out). Therefore investing in delivery contracts can protect impulsive traders from themselves - no more quick open/close then regret! From an advocate point of view, the emergence of delivery contracts is important to the price discovery process for cryptocurrencies, i.e. it gives spot market participants a hint of what market expectations (at a later time) are and allows them to adjust their bid/ask price accordingly, which contributes greatly to the establishment of a fair and efficient price. For arbitrageurs, delivery contracts reveal when and at what price they can deploy their buy/sell plans. That is the one thing missing from perps, as the perps price closely follows the spot price thanks to the funding rate system. Trading Delivery Contracts on Bitget As the leading crypto derivatives exchange, Bitget has already released a spectrum of products vital to the sustainable development of the digital space. Our curated financial instruments include: Bitget Coin-Ⓜ Futures, Bitget USDT-Ⓜ Futures, Bitget USDC-Ⓜ Futures, Bitget Copy Trade, Bitget Spot Trading, and now Bitget Delivery Contracts, together with powerful tools (Bitget Futures Grid, Bitget Spot Grid) and a variety of DeFi-inspired services. A complement to Bitget-verse Current pairs available for Bitget Delivery Contracts are BTCUSD and ETHUSD, which will be settled on BTC and ETH, respectively. We already mention that delivery contracts are of big help for hedging, but it also creates arbitrage opportunities. That is, you can head to Bitget Spot Trading, scoop up some Bitcoin and sell your delivery contracts if (delivery) contract price is higher than spot price and vice versa. Meanwhile, traders can still ride the waves with adjustable orders (open, close, position reduction, TP/SL) via our Coin-Ⓜ Futures, USDT-Ⓜ Futures or USDC-Ⓜ Futures. Portfolio planning and strategy optimising have never been more convenient! Of great finesse We pay attention to every little detail to make Bitget Delivery Contracts as refined as possible. Take the contract name as an example: The name of Bitget Delivery Contracts consists of the underlying pair and the expiration date (BTCUSD1230, BTCUSD0331, etc.). We put ourselves in the user’s position and choose the most self-explanatory name so that our users never get confused. Besides, Bitget Delivery Contracts also offer multi-currency margin. For now Bitget traders can use USDT, USDC, BTC, ETH, XRP as margin; more options will be introduced later. This should work well for seasoned traders as well as users who want to utilise their crypto holdings. Talk about efficiency. When it comes to costs, Bitget Delivery Contracts are automatically settled at the Taker rate. That is the only payment delivery contract traders will have to make. Suitable for any level of risk tolerance Any trader can find a way to take advantage of Bitget Delivery Contracts as we embrace a risk management-oriented philosophy that involves the three following factors: (1) Product design: Bitget Delivery Contracts will be first available for 3-month periods, i.e. in the form of Quarterly Delivery Contracts. We believe this should be the basic interval as traders can employ lucrative schemes without being affected by general, day-to-day events, whereas it would be more difficult to pinpoint the suitable strategy for a longer period of time. In short, we are trying to prep our users for more advanced strategic trading tools to come with the intro of Bitget Quarterly Delivery Contracts. Please note that new contracts for the quarter after next will be generated right after settlement of the current quarterly contracts, allowing a continuous observation of market activities that is represented by the stochastic indicator K-line and preventing any possible confusion that stems from overlapping contracts. More about K-line can be found here. (2) Settlement: Settlement will occur at 8:00 AM (UTC) on the last Friday of each quarter, where the m ark price is calculated, liquidations are triggered and delivery of P/L takes place. Mark price for Bitget Delivery Contracts is the sum of the index price and the average of the differences between order prices and the index price taken 1 hour before the delivery time, with the index price calculated by taking the weighted average of spot prices from various exchanges other data sources. This action will ensure fair price (minimise the probability and/or impact of price manipulation on one single exchange) and be of huge advantage to our users, as some exchanges capture prices over a 1-hour period to calculate the mark price, making delivery contracts more prone to getting liquidated. We also apply strict rules for settlements to offer a faultless settlement process: • No manual closing allowed during settlement/delivery; • No contract opening allowed in the first 10 minutes of settlement/delivery; • Contracts that are not closed manually will be automatically settled and delivered. (3) Bitget’s intervention: In extreme market conditions where users can be heavily affected, Bitget will decide between these two options: • Conduct delivery before triggering liquidations • Delay the settlement and delivery process until further notice The whole meaning of our intervention is to protect users’ funds from any potential market manipulation or adverse situations. Simply create an account, and start exploring the incredible Bitget-Verse today!