Bitget, top crypto derivatives and copy trading platform, has announced the addition of Liquid Staking Derivatives (LSDs) as a margin option for Bitget Coin-margined Futures, making it the first centralized exchange to provide such products on the market.
This new feature will allow traders to continue earning staking rewards while also utilizing their staked assets for trading purposes.
Bitget Coin-margined Futures is a unique product designed for crypto-enthusiasts, supporting multiple currencies as a margin for various futures trading pairs. With the introduction of LSDs as collateral, traders can now access the liquidity of staked assets without having to unstake them. Currently, Bitget supports stETH as collateral for the first rollout, and plans to expand support for more assets for LSDs collateral in the future.
Using LSDs as a margin offers a range of benefits for cryptocurrency traders. It provides increased flexibility and diversification, helping users manage risk more effectively and potentially offering a more efficient way to use staked assets for trading. This can be particularly advantageous for traders looking to expand their trading strategies beyond holding or staking cryptocurrencies.