Major cryptocurrency exchange ByBit announced on Monday, September 18, the introduction of Perp Protect for use by investors on ByBit. Perp Protect is a risk management feature for use in perpetual contract trading.
📣 Coming Soon: Perp Protect on Bybit!— Bybit (@Bybit_Official) September 18, 2023
🗓️ Sep 21, 2023
Safeguard your trades against #crypto market volatility! Perp Protect automatically acquires Options for downside protection.
Learn more: https://t.co/ZGSM4cDNuO#Bybit pic.twitter.com/tEnK7JfTGT
Regardless of whether you have long or short positions, Perp Protect functions by autonomously obtaining options guided by astute suggestions, providing an important safeguard against potential risks.
The feature is set to become available for use on the ByBit platform on Thursday, September 21st. According to our ByBit review, the exchange specializes in advanced trading features such as contract trading and derivatives. They also have excellent spot trading options for new investors.
The Perp Protect Option Order system chooses the most suitable options for existing positions. When it comes to reimbursement, should the asset price surpass the predetermined threshold, investors will receive compensation accordingly.