Bit.com is a secure, high-performance full-suite cryptocurrency exchange platform, offering spot, futures, and options trading. While Bit.com started as an options exchange, its funding efficiency has since improved significantly with a wide range of financial instruments to choose from.
After quickly growing into the world's second-largest options exchange, the platform has now diversified and is set to empower its users and improve the trading experience with new innovative features.
Bit.com recently rolled out an exciting new feature; the Unified Margin system. This Unified Margin system distinguishes Bit.com from other cryptocurrency exchange platforms. The unified margin system is essentially an advanced system that adopts a single account solution to offer spot, features, margins, perpetual and options trading.
With Unified Margins, all collateral cryptocurrencies in the unified account are shared as USDT denominated margins to improve capital utilization, thus reducing the risk of being liquidated. Unified Account allows users to trade across all instruments, that is, spot, margin, futures, perpetual swaps, and options, from within one account. Also, with unified accounts users can manage funds, trading tools, risk management, and more from one place, allowing them to focus their energy on trading rather than operational costs.
With USDT margined futures, users are allowed to build long or short positions and earn profit from the rising/falling of the price of the underlying asset. It's interesting to note that Bit.com also supports USDT margined perpetual swap.
In addition, USDT margined futures are only available for Unified Margin Mode (UM) users, but not for Classic Mode users. In the futures account, instruments with the same settlement currency share the margin while the risk of instruments with different settlement currencies is isolated in the unified margin mode, all collateral currency in the unified account is shared as margin to improve capital utilization.
Other unique features include:
Brand-new account structure
In the UM mode, users trade through the unified margin account. In this case, you can trade spot, margin, perpetual, futures, and options in the same account without transferring funds back and forth between multiple accounts.
Multiple-currency margin
In the UM mode, all currencies (BTC, ETH, USDC, etc.) in your account will be calculated in USDT value with certain haircut ratios to provide the margin for all your positions. Also, the overall risk of your account is calculated based on the USDT value of the margin. Compared to the classic mode, the UM mode will improve your capital utilization to a certain extent.
Collective calculation of profit and loss for all positions
In the UM mode, the profit and loss of multiple positions you hold will be combined and offset against each other. This means that a loss in a particular position will not necessarily trigger forced liquidation, but only when the overall account risk reaches a critical level (see here).
Aiding borrowing for trading
In the UM mode (borrowing), as long as users’ USDT total available balance is sufficient, users can sell a currency or trade derivatives in multiple currencies even when the available balance of the settlement currency is insufficient. This means that users can trade spot and derivatives settled in all currencies with just one currency as margin.
Bit.com has invested significant resources into providing a sophisticated and flexible product and looks forward to meeting the needs of a growing number of users. It provides the best experience for traders whether they are new to crypto trading or already a professional. The new unified model feature makes each account mode customizable. It suits different levels of experience and allows users with different appetites for risk.
With these new updates, it is easier for users to calculate pnl, there is more risk control, and it is user-friendly.
