Bybit, the world-renowned cryptocurrency exchange, is elevating its Ethereum Liquid Staking service by introducing a new feature that allows users to redeem their staked Ether tokens (stETH) for ETH on a 1:1 basis, completely free of charge.
The Ethereum Liquid Staking service offered by Bybit has already provided users with a unique opportunity to earn up to 7% APR (Annual Percentage Rate). With this service, stETH tokens accumulate rewards from the Ethereum network, which can later be exchanged back into the original capital along with the accrued interest.
Now, Bybit is taking it a step further by enabling clients to utilize stETH as trading collateral, maximizing capital efficiency and unlocking a whole new realm of possibilities for traders. Leveraging staked assets opens up a world of next-level opportunities for traders in the cryptocurrency market.
A Seamless Ecosystem for Passive Income and Trading
Importantly, the generous APR offered by Bybit applies to stETH tokens regardless of whether they are being used for trading or not. Additionally, Bybit is providing an opportunity for clients to earn even more through stETH-collateralized loans, allowing them to put their assets to work in various financial activities.
Vivien Fang, the head of financial products at Bybit, expressed excitement about the new development, stating, “With Bybit’s Ethereum Liquid Staking and stETH redemption service, users gain access to a seamless and user-friendly ecosystem, which provides both passive income and active trading opportunities. We are committed to empowering our users with the best tools and features, and the introduction of stETH redemption is yet another step towards achieving that goal.”
Bybit, established in 2018, has quickly become the third most visited cryptocurrency exchange globally. The platform is highly regarded by crypto traders for its ultra-fast matching engine, excellent customer service, and multilingual community support. Bybit proudly partners with prominent entities such as Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, as well as esteemed esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports.
As the crypto industry evolves, Bybit remains at the forefront, providing traders with the necessary tools to thrive in a dynamic and fast-paced environment. With the launch of stETH to ETH redemption at zero fees, Bybit continues to solidify its position as a leading cryptocurrency exchange in the world, offering users cutting-edge features to enhance their trading experience while maximizing their earning potential.
