VICTORIA, Seychelles, April 29, 2020 /PRNewswire/ -- Overbit.com, a leading bitcoin margin exchange, has enabled deposits in USD Tether. The leveraged trading platform that allows its users to trade cryptos, forex, and commodities using bitcoin without delivery of the assets, will be amplifying its offer to appeal to a wider net of traders. Adding deposits in Tether, the company believes, will help it to establish a leadership position in the space.
The importance of stablecoins for traders
As the first stablecoin, Tether (USDT) is the most popular in the cryptocurrency industry and is listed on most major spot exchanges. It has the largest market capitalisation of all stablecoins, currently at around $6.3bn making it the fourth-largest cryptocurrency.
Adding a stablecoin deposits option will give Overbit users the ability to reduce their risk, particularly in times of high volatility, and hold their assets in Tether, the most established and widely-used stablecoin.
Overbit believes that with this new feature, spot traders will have another platform to migrate to margin trading for their Tether deposits where they can take advantage of leverage up to 100X.
CEO and founder Chieh Liu commented, "Adding Tether deposits is a smart move for Overbit and will give traders the chance to counter market volatility. We believe that we will appeal to more professional and advanced traders who prefer to store their assets in USDT."
Overbit research shows advanced traders prefer to hold assets in USDT
Overbit surveyed a total of 2500+ traders from 90 different countries. According to its findings, professional traders prefer to hold more of their assets in Tether (USDT). As such, Tether (USDT) is the third most popular crypto asset for advanced traders and professional traders after Bitcoin and ETH.
In addition to the launch of USDT deposits, Overbit has recently revamped its platform to offer new features, such as cross and isolated margin, and the fees or spread trading modes.
Overbit is an innovative leveraged bitcoin trading platform that allows cross-market trading using Bitcoin or Tether as the underlying asset and trade cryptos, forex, and commodities. Registered in the Republic of Seychelles, the company was founded by veteran forex traders with the vision of being the world market leader in crypto margin trading to offer a unique and flawless user experience.