Bitget Unveils Innovative Snowball: Safeguarded Earn Product with Stellar 24.5% APR

USA - English

News provided by

Sep 06, 2023, 07:16 ET

VICTORIA, Seychelles, Sept. 6, 2023 /PRNewswire/ -- Bitget, top crypto derivatives and copy trading exchange, has announced the launch of its groundbreaking structured investment product, Snowball. The new instrument will provide users with up to 24.5% APR, meanwhile ensuring principal protection. Snowball is designed to help users navigate the ever-evolving cryptocurrency market landscape with a heightened level of confidence and security, while maintaining a relatively low-risk profile.

Bitget has stated that the release of its innovative offering aligns with the overall "Trade smarter" philosophy that the company has been advancing as a key factor of its positioning among a younger and more market-knowledgeable audience of users. Snowball is a principal-protected structured financial product linked with the investment portfolio of the options market. The new product leverages the previously released Bitget Earn feature to optimize earnings and safeguard principal to continuously accumulate yields, and offers explosive growth in returns.

The team at Bitget has stressed that the name of the new product reflects its essence of 'snowballing' revenues while granting users a host of additional advantages. Among the latter are sustained cumulative yields and avoidance of extreme market risk under enhanced capital utilization. Snowball is designed for users of both bullish and bearish approaches. The Bullish option is focused on safeguarding users' principal while predicting future prices to fluctuate moderately or experience slight increases within specific price ranges. Whereas the Bearish option is best suited for users aiming to protect their principal while predicting future prices to fluctuate moderately or experience slight decreases within specific price ranges.

Snowball will operate under an observation period principle, which foresees the range from which the user subscribes to the product and starts receiving interest until the yield is accumulated. During the period, so-called knock-in and knock-out prices will be observed, which will determine the level of yield users can expect to receive. Bitget provides all subscribing users with a comprehensive scale chart of knock-in and knock-out prices for both bullish and bearish scenarios. Users of Snowball will have the right to resort to early redemption as well, the latter being based on the accumulated APR at the time of submitting the early redemption application.

The core value of the new product resides in its inherently low-risk nature, which, however, still depends on the users' involvement and capital utilization. Exceptionally high or low volatility may have an impact on yields.

"At Bitget, our commitment to empowering users with smart and secure trading solutions is unwavering. With the launch of Snowball, we are redefining the crypto investment landscape. Snowball isn't just a product; it's a testament to our dedication to helping users trade smarter and more confidently in the dynamic world of cryptocurrencies. We believe that financial innovation should be accessible and safeguarded, and Snowball embodies this philosophy, providing users with a principled-protected, yield-optimizing, and flexible investment tool", said Gracy Chen, Managing Director at Bitget.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 20 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord

Photo - https://mma.prnewswire.com/media/2202919/image_5026182_37339445.jpg