Bonus Asset to Secure Futures Positions on WhiteBIT
Content
USDTB is a special bonus asset designed to secure futures positions on WhiteBIT exchange. It is kept exclusively on the Collateral Balance, which serves as the basis for opening futures contracts, and has a number of use features.
USDTB Use Cases
USDTB can only be obtained as a deposit reward from WhiteBIT platform. This means that the user cannot purchase or exchange this asset, it is provided by the exchange as part of special bonus programs or promotions.
USDTB is used only to secure futures positions and is displayed on the Collateral Balance. If there are other assets on the Collateral Balance, such as regular USDC or other cryptocurrencies, USDTB will be used as collateral in the first place.
USDTB Benefits
The result of trading futures contracts can be both positive and negative, which directly affects the fate of USDTB:
- Positive result (rP&L): If the trade brings profit, the realized profit is credited to the Collateral Balance in USDT.
- Negative result: In the case of a loss-making trade, USDTB is deducted from the user’s Collateral Balance to cover the losses.
USDTB Restrictions
USDTB has several important limitations that define its specific use:
- No transfers to other balances. This asset is only available on the Collateral Balance and cannot be moved to the Main Balance or used in other types of trading.
- Withdrawal and transfers are not allowed. USDTB cannot be withdrawn to an external wallet or transferred to other users or accounts.
- USDTB cannot be used for margin trading.
- The asset cannot be used as collateral for Crypto Borrow.
- Subaccount transfers are not available.
Conclusion
USDTB is a useful tool for WhiteBIT traders, allowing them to increase the collateral for futures transactions and minimize risks. Its main advantage is the ability to be converted to a real digital asset upon successful trading. However, this asset can only be used for specific tasks within futures trading.
