In this article, we’ll cover the recent gold rally and show you how you can trade gold on Bybit’s platform, including using Gold&FX MT5 and gold-backed crypto Perpetual futures like XAUTUSDT.

 past $3,200 per ounce and reached new all-time highs. This rally has renewed interest in gold trading across both traditional and crypto markets. However, traders in the crypto market traditionally have had to go through a more cumbersome process to gain exposure to gold. 

Bybit's gold trading options are here to change all that — not only simplifying the process but also allowing crypto-natives to trade gold using Tether’s 

. In this article, we’ll cover the recent gold rally and show you the different ways you can trade gold on Bybit’s platform.

Gold rallies to all-time highs amid market uncertainty

There are several fundamental causes behind the current rally in gold prices, the most prominent being increasing geopolitical tensions, escalating trade wars and an overall increase in uncertainty and volatility. In such an environment, gold's role as a safe-haven asset becomes particularly appealing. Investors buy it to protect their capital, and traders begin buying it to benefit from the price movement. 

In addition to retail traders, central bank activity, particularly in Asia, has also played a crucial role. Several central banks, including those in China, India and Russia, have been steadily increasing their gold reserves. This trend reflects a strategic move to diversify their reserves away from the US dollar, driving sustained demand for gold and contributing to its price increase.

Bybit is always seeking to offer new and exciting products to its users, and its gold offerings are no exception. There are currently three ways to gain exposure to gold on Bybit’s platform:

To make gold trading easy for crypto-native traders, Bybit has paired all three instruments against USDT, the largest stablecoin by market cap. Bybit’s Gold&FX trading has 

Let's take a closer look at the three different options and find out how you can use them to trade gold. 

MT5 (short for MetaTrader5) is one of the world's most popular trading platforms. Retail traders can create algorithms to automate their strategies using tools normally reserved for institutional players. In August 2024, Bybit 

 into its platform. Following this integration, Bybit also launched Gold&FX trading for its users. 

 offers three major services: cryptocurrency, forex (FX) and contracts for difference (CFDs). Traders can use CFDs to trade gold. The trades are placed using USDT, and leverage extends all the way up to 500x. In addition to the clean interface and secure trading environment that users have come to expect from Bybit, MT5 also offers several features that are essential for algo trading:

Step-by-step guide for trading gold with Bybit MT5

Before using MT5, traders must first register and open their Bybit MT5 accounts.

Carefully read the Terms and Conditions, and accept by clicking on the box. Then, click on 

Create the Master Password for your Bybit MT5 account. Ensure that the passwords you input match each other before clicking on 

. The creation of an MT5 account requires 

, so if you have yet to verify your Bybit account, you’ll be prompted to complete the verification process.

The system will generate an MT5 Login ID and an investor password, and will display your MT5 account details in a pop-up window.

 to be redirected to the MT5 Dashboard, where you can deposit funds into your Bybit MT5 account to start your trading journey.

Download and install the MT5 Client to your desktop or mobile from the Bybit MT5 page and log in to your trading account.

Choose the gold pair that you want to trade. Currently, there are six different gold pairs available on Bybit MT5.

Choose your preferred pair. You’ll see three options: 

 allows traders to automatically copy positions opened by the Master Trader accounts that they’re following. This allows traders without prior experience to effortlessly replicate the strategies of expert investors across gold and forex. 

 also includes a profit-sharing mechanism whereby the master trader gets a portion of the profit generated by the followers. This makes the process a win-win for everyone involved. 

The major advantage of this type of trading mechanism is its usefulness for beginning traders, who may not have enough expertise to place their own trades, but can automatically copy the trades of others who are registered as Master Traders. On the flip side, the profit and loss of your position will depend entirely upon another trader, and Followers can end up with potential profits or losses accordingly.

Step-by-step guide for trading gold on Bybit MT5

 at the bottom of the card of the Master Trader whom you wish to follow. Followers can copy up to 10 Master Traders simultaneously.

Create your copy trades by entering the amount you want to invest under 

 and set your take-profit/stop-loss (TP/SL) amount.

Once the parameter settings are confirmed, place the check on the agreement acknowledgment box, then click on 

Congratulations! You’ve successfully followed a Master Trader, and your account will now start copying their trades.

In addition to MT5, Bybit also offers two 

 are derivatives that allow traders to speculate on the price movements of crypto assets without a set expiration date. Bybit allows traders to take 

 positions on two such contracts: XAUTUSDT and PAXGUSDT. 

 is a digital token issued by Tether that’s backed by physical gold. Each XAUT token represents indirect ownership of one fine troy ounce of gold, stored in a secure vault in Switzerland. Meanwhile, 

 is issued by Paxos, and is also backed by one fine troy ounce of gold, stored in a vault in London. 

On Bybit, traders can enjoy up to 50x leverage with XAUTUSDT and up to 16.67x leverage on PAXGUSDT. Settlement takes place in USDT, simplifying the profit and loss calculation.

Step-by-step guide for trading XAUTUSDT on Bybit

 and log in with your account details. On the top panel, you can see the 

Below that, there are three panels. The left panel displays the chart, the middle panel displays the order book and the right panel is for placing and canceling orders.

On the right panel, you can choose whether to place a 

 order. You can also choose the order price (for limit orders) and order quantity. 

Once you’ve selected all the details, you can check the value of the trade and the cost in USDT. Confirm the details, and click on 

That's it. You’ve now placed your order. Market orders will get executed immediately, while limit orders will only execute if the spot price reaches the limit price.

Gold acts as a safe haven asset during times of uncertainty, and it could be considered one of the safest assets for long-term investments. Bybit users have a great opportunity to trade gold to gain exposure to its price appreciation or diversify their portfolio. Take a look at the 

 page or check out Bybit’s gold-backed 

. Choose the method that suits you best to capitalize on this incredible gold rally. 

Beginner

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How to trade gold on Bybit using USDT

Apr 14, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Apple exemptions send crypto higher 

US president Donald Trump’s administration recently exempted smartphones, computers and other electronics from reciprocal tariffs, providing significant relief for major technology manufacturers like Apple and NVIDIA. This move, announced by US Customs and Border Protection, limits the impact of Trump’s 125% tariff on goods from China and baseline 10% global tariff affecting many countries.

The exclusions cover popular electronics, such as smartphones, laptops, hard drives and memory chips, typically not domestically produced. This decision is welcome news for consumers who feared rising prices due to potential tariffs. It also benefits major tech companies that have made substantial investment pledges in the US domestic markets to the Trump administration.

The tariff reprieve marks a noteworthy easing in Trump's trade conflict with China, effective retroactively from April 5. White House Press Secretary Karoline Leavitt emphasized that America must not depend upon China for critical technologies, highlighting the president's efforts to secure substantial investments from leading tech firms to bolster domestic manufacturing. 

However, the reprieve may be temporary. The exclusions stem from an initial order designed to prevent cumulative tariffs on specific sectors. While certain semiconductor manufacturing equipment is excluded, the announcement doesn’t cover the 20% tariff targeting China, aimed at addressing fentanyl shipments.

Analysts note that while this exemption is a win for the tech industry, uncertainty remains regarding future tariffs. The administration is poised to further investigate semiconductor imports, potentially leading to new tariffs in the coming weeks. As negotiations evolve, other countries may seek similar exceptions, complicating the trade landscape. 

Overall, while this announcement offers temporary relief, the future of tariffs remains uncertain as the administration continues its aggressive trade policies.

Weekly crypto highlight — Bitcoin has its role to play amid volatility

The concept of "safe haven" assets, traditionally represented by gold and government bonds, is being challenged in today’s volatile markets. For decades, investors relied on a classic portfolio structure of 60% equities and 40% bonds, with capital flowing into gold and government bonds during market downturns. These assets were seen as stable and reliable, ideal for safeguarding against volatility. However, in a world marked by constant market activity, geopolitical unrest and rising skepticism toward governments, the definition of a safe-haven asset may require reevaluation.

Enter Bitcoin, a highly volatile and often misunderstood asset. Despite skepticism from many investors, Bitcoin has significantly outperformed traditional safe-haven assets since the COVID-19 market lows, rising over 1,000% since March 2020. In contrast, long-duration bonds have dropped by 50%, and gold, while up 90% over five years, appears less impressive when adjusted for monetary inflation.

However, Bitcoin's status as a safe haven remains debated. During various risk-off events, it’s behaved more like a high-beta asset than a protective hedge. For instance, in March 2020, BTC fell 40%, while the Nasdaq-100 dropped 27%. But during the recent tariff-led sell-off in April 2025, Bitcoin held up better than the Nasdaq-100, suggesting emerging strength.

Non-sovereign assets like Bitcoin could thrive amid geopolitical tensions, given their decentralized, censorship-resistant nature. Traditional safe havens like gold and long-duration bonds are losing their luster, with gold’s gains overshadowed by monetary expansion and rising yields on Treasury bonds.

As Bitcoin continues to demonstrate resilience, it may challenge the notion of what constitutes a safe haven. While it may not fit the classic definition of a low-volatility asset, its durability, neutrality and liquidity make it increasingly relevant in today’s financial landscape. Thus, the traditional playbook for safe-haven assets may need an update.

Advanced

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Weekly Institutional Insights: Apple exemptions send crypto higher; Bitcoin’s role to challenge gold

Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

After initially resisting US president Trump’s “Liberation Day” tariffs, crypto markets joined the global sell-off, with BTC falling from $87K on April 2 to a low of $74K. BTC’s term structure was inverted again before easing, while ETH’s term structure remained inverted. Meanwhile, short-term BTC volatility skews favored OTM puts, reflecting more bearish sentiment than during the Q1 2023 US banking crisis. However, volatility levels decreased after Trump announced a 90-day pause on tariffs (excluding those on China), leading to a significant rally in spot prices.

Please check out the report’s highlights.

BTC open interest declined substantially this week

Bybit’s largest perpetual swap markets initially remained stable during the broader market sell-off and tariff reactions, recovering from the dip after the 

. However, Trump’s recent announcement and subsequent pause of near-unilateral import tariffs significantly impacted these markets, leading to notable declines in open interest for BTC and ETH, which have fallen sharply from their late March highs.

After a brief period of positive funding rates, BTC’s perpetual swap market fluctuated between positive and negative sentiment, indicating traders were hesitant to commit to a strong directional move (similar to trends in options markets). This changed when President Trump announced a 90-day tariff relief, leading to positive jumps in funding rates. Altcoins displayed a similar pattern, with funding rates alternately positive and negative before rising following the tariff announcement.

During the April 6–7, 2025 sell-off, traders sought downside protection, as BTC's spot price fell to $75K in reaction to President Trump’s tariff announcement. The high volume of put options relative to calls indicates strong demand for this protection. Meanwhile, the US's reciprocal tariffs caused a significant inversion in BTC’s at-the-money volatility term structure, which, although it has eased, remains inverted. Additionally, there‘s a stronger skew toward OTM puts at short tenors as compared to the March 2023 US banking crisis. Put open interest has surged over the past week, reflecting extremely bearish sentiment for both the near and long terms.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 9, 2025): Tariffs bring substantial volatility at a level similar to that of the Q1 2023 US banking crisis

In this tutorial, we’ll explore how you can stake and mint Lombard LBTCv on Bybit Web3 Staking with the Bybit Web3 Seed Phrase Wallet. 

In this tutorial, we’ll explore how you can stake BTC to mint 

Please note that in order to get started, you’ll first need to download the Bybit App on the Apple App Store or Google Play Store. 

How to stake and mint LBTCv with Bybit Web3 Staking

: Launch the Bybit App on your mobile device and tap on the 

: Deposit BTC into your preferred Bybit Web3 Seed Phrase Wallet BTC address.

: Once you’ve deposited BTC into your wallet address, tap on the 

drop-down and select the BTC address into which you’ve deposited BTC. 

: Input the exact amount of BTC you’d like to stake, and tap on 

 and sign the message to allow this exact amount of BTC to be staked.

 page. Ensure that the amount of BTC is exactly the same as you wish to stake, and tap on 

: Tap on the icon located at the upper-right corner of the screen to check your transaction history.

: You’ll receive LBTCv in three progressive stages:

: Once you’ve received LBTCv, you can check your points (updated every hour).

If you wish to stake more BTC, simply repeat Steps 7 through 12. However, please

that you won’t be able to stake more BTC as long as you haven’t yet received your LBTCv.

To redeem your LBTC, simply scroll down the 

button. Then, wait three days for the successful redemption of LBTC.

If you wish to cancel your redemption, you can do so within these three days.

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How to stake and mint Lombard LBTCv with Bybit Web3 Staking

Bybit Learn

Stablecoin

Formerly known as the Paxos Standard Token (PAX), the Pax Dollar (USDP) is a stablecoin backed by the U.S. dollar. Find out more about it in this article.

 technology is revolutionizing the digital world and contributing to groundbreaking innovations in the crypto space, including the emergence of 

 ecosystem, Pax Dollar is one of a few fully regulated stablecoins designed to limit volatility and provide peace of mind to crypto investors looking for stable returns and consistent long-term growth. 

In this post, we shed light on the Pax Dollar stablecoin (USDP), the popular 

 token (PAXG) and the world’s leading compliance and regulation standards for each.

 is a blockchain ecosystem hosting a variety of fully regulated cryptocurrency products for individual traders, and institutional and enterprise customers seeking safer, less-volatile exposure to crypto markets.

As one of the only fully regulated blockchain ecosystems, Paxos is an umbrella platform hosting both the Pax Dollar stablecoin and the Pax Gold token. This crypto project offers full transparency and security surrounding the assets that back its USDP stablecoin, and Paxos aims to provide a seamless global payments system that serves to minimize the risks associated with market exposure.

The Paxos team envisions a progressive future in which blockchain technology isn’t just a driving force behind a financial revolution but a key element of its evolution. Paxos strives to eliminate the problems and improve the performance of the economic ecosystem by creating a fluid, frictionless global exchange system for both digital and real-world assets through the ubiquitous use of its stablecoin — Pax Dollar.

Formerly known as iBit, Paxos Trust Company, LLC, was founded in 2012 by Cedar Hill Capital Partners co-founder 

. With an impressive board including former U.S. Senator and Senate Finance Committee member 

, Paxos entered the U.S. market and launched its USDP stablecoin in May 2015 after receiving licensure from the New York State Department of Financial Services.

The name “Paxos” was chosen based on the legislative consensus system widely used on the Greek island of Paxos. Despite its antiquity, this system served as inspiration for the Paxos founders, who used the notion of computational consistency to develop the Pax stablecoin token, later known as Pax Dollar or USDP.

Backed by the U.S. dollar in accounts held at U.S. depository institutions, Pax Dollar was launched in September 2018, and later rebranded as the USDP stablecoin in August 2021. The PAX Gold token, which is tied to the value of gold rather than the U.S. dollar, was launched shortly thereafter to tokenize gold and provide customers with fractional ownership of the precious metal.

Today, some of Paxos’ partners include major companies and organizations from across the globe, such as 

In 2018, three years after securing a trust charter for digital assets from the 

, Paxos developed and launched Pax Dollar (USDP). Unlike other cryptocurrencies, Pax Dollar is fully regulated and backed 100 percent by cash reserves to give investors exposure to crypto without the volatility that typically comes with it.

The PAX Gold token was launched one year after Pax Dollar (September 2019). With full approval from the New York State Department of Financial Services, it became the first crypto asset redeemable for physical gold. By tokenizing the precious metal on the blockchain, PAX Gold has made it extremely easy for anyone to invest in actual gold, trade gold with minimal settlement risk and exchange PAXG tokens for both gold and fiat currency.

In 2021, Paxos rebranded the formerly known Paxos Standard Token (PAX) to Pax Dollar (USDP). Pax Dollar remains a borderless stablecoin developed for multiple use cases, such as commerce, trading, peer-to-peer transfer, and holding as an investment and store of wealth.

Since 2021, using blockchain technology and issued as ERC-20 tokens developed on the Ethereum network, the industry-leading Pax Dollar tokens are produced by Paxos to help mitigate crypto volatility, hedge inflation, eliminate cross-border transaction fees and issue payment for blockchain-based assets.

While several other stablecoins have come under fire for lack of transparency regarding the assets backing them, Pax Dollar remains one of the most regulated and recognized stablecoins in the entire crypto industry.

Pax Dollar (USDP) is designed to allow anyone, anywhere to send and receive U.S. dollar-based assets with substantially greater availability and flexibility than traditional financial-sector instruments. Additionally, the fees assessed for using Paxos to buy, sell and trade USDP are far less.

With Pax Dollar, you can seamlessly transfer assets across borders almost instantly and with absolutely zero discriminatory requirements. In other words, through the use of blockchain technology, Paxos is helping people break free from the shackles of financial bondage by offering a stable, decentralized value asset with minimal risk.

To exchange USD for Pax Dollars (USDP), whether for transactional or investment purposes, you need to deposit USD into a Paxos account. Then Paxos will use their 

 to generate USDP equivalent to your deposit amount. In turn, the minted USDP will be transferred and held in your account.

The process of exchanging USDP for USD is just as simple; in fact, it’s the same. However, after converting USDP to USD, the PAX coins are instantly burned and removed from circulation.

The minimum conversion amount is 100 USD, and unlike many other crypto platforms, Paxos doesn’t charge a fee for USDP conversion and redemption. All USDP stablecoin cash equivalents and reserves are stored safely in regulated accounts and are redeemable 1:1 for U.S. dollars anytime. 

Pax Dollar offers crypto traders and investors several key features designed to mitigate risk and maximize stability.

Since Paxos is a regulated trust, Pax Dollar is inherently more secure than most other cryptocurrencies and stablecoins on the market today. With legal permission to transfer assets with blockchain technology, additional transaction monitoring and using surveillance partners for another layer of compliance, transactions can be executed quickly and securely with zero risk.

’s Pausable contract module, which helps minimize risk through the use of tested libraries of Ethereum smart contracts. This means the Paxos platform can pause USDP approvals and transfers whenever a security threat is present.

Pax Dollar must operate under the strict regulatory oversight of the New York State Department of Financial Services. Therefore, USDP stablecoin users can be confident their insured crypto assets are in compliance and properly managed according to the “highest standards of consumer protection.”

Cryptocurrency in general will continue to rise in both usage and value as decentralization becomes more and more prominent over time. However, it’s reassuring to know that Pax Dollar is backed by the world’s largest fiat currency, the U.S. dollar.

According to Paxos, Pax Dollar is reviewed monthly by 

, a respected U.S.–based auditing firm. Each month, Withum must ensure that the supply of USDP matches the reserve supply of U.S. dollars that Paxos must hold to keep enjoying its highly regulated stablecoin status.

As already stated, Pax Dollar is backed 1:1 by the U.S. dollar. So, for every Pax Dollar issued, there is $1 held in an account to insure its value. In this regard, it’s similar to the 

 used by the U.S. to back the dollar until 1971.

Along the same lines, as a regulated trust chartered by the New York State Department of Financial Services, Paxos has a legal requirement to keep a cash equivalent of all stablecoin reserves in fully segregated, bankruptcy-remote accounts.

This requirement ensures that USDP stablecoin owners can always redeem their investments in U.S. dollars, or their reserve currency, and have access to their funds. Since Paxos corporate funds are kept separate from the funds of token holders, there’s no need to worry about their solvency — you’ll always be able to access your funds even if the company were to declare bankruptcy.

Aforementioned, Paxos holds its required reserves in cash so customer funds are kept safe and always available for redemption. The accounts are audited monthly by Withum, the respected third-party firm, to ensure everything matches up. With nothing but a smartphone, anyone can purchase or redeem Pax Dollars instantaneously anywhere, anytime. You don’t even need a bank account.

If you prefer stability and security over profit potential, Paxos’ USDP stablecoin is certainly interesting. Equally interesting, however, is the company’s other crypto token — Pax Gold (PAXG).

Similar to USDP, which represents $1, the PAXG token digitally represents one 

 of gold, stored in London’s high-security Brink’s vault. This presents an intriguing possibility for those seeking to own physical gold. Not only does the PAXG token allow you to do exactly that, but it also provides the liquidity of crypto combined with the security and immutability of blockchain technology.

For many, it’s a win-win. As an ERC-20 token built on the rock-solid Ethereum blockchain, you can move or trade PAXG anywhere in the world, or convert and redeem it in fiat currency or physical gold.

Just like USDP, PAXG is audited each month to ensure its token supply matches the gold assets held in its vaults. If that isn’t enough, the gold owned by each token holder is given an individual serial number, allowing you to trace your token back to the actual physical gold backing it.

With today’s uncertain economic conditions, gold’s safe-haven status is more prominent than almost ever before. In other words, Paxos may have struck actual gold with the release of PAXG in February 2021. In little more than a year, the token’s market cap shot up over 400 percent, outshining the market cap growth of the Tether Gold XAUt token by more than 150 percent over the same period of time.

Pax Dollar is specifically designed to have a growing number of use cases. Today, the stablecoin is primarily used to mitigate crypto asset volatility, reduce the friction involved with cross-border transactions and serve as a reliable means of payment for crypto, 

In the not-too-distant future, Paxos expects USDP to be used by consumers for making payments and held as a safe store of value, not just for U.S. token holders but for people around the globe.

As far as USDP’s tokenomics go, Paxos Trust Company, LLC, is the only entity able to alter the supply of Pax Dollars in circulation. There is no limit on the number of tokens the company can generate. That being said, new tokens are issued only when dollars are deposited into Paxos accounts.

When USDP is redeemed for cash from one of the segregated accounts, the tokens are destroyed immediately to ensure price stability and that the number of tokens in circulation matches the number of U.S. dollars held in reserve. This is how its 1:1 price ratio is maintained.

Withum audits Paxos monthly and publishes the reports citing its U.S. dollar reserves and the number of tokens in circulation.

Given the level of trust and credibility Paxos is receiving from traditional institutions such as Bank of America, Credit Suisse, PayPal and Mastercard, it’s safe to say the company’s regulatory approach has been paying off. In fact, as regulators around the world try to decipher cryptocurrencies, Pax Dollar may be the key to crypto’s mainstream adoption.

Currently, Pax Dollar is ranked seventh on the list of stablecoins with the largest market caps. However, its 400-plus percent growth in just over a year suggests it may be moving up the list. All in all, Paxos’ ethos of providing security, honesty and complete transparency in backing up USDP with both AU and USD makes the Pax Dollar stablecoin an increasingly enticing investment vehicle for many individuals.

Pax Dollar provides a safe, stable way for investors with little risk appetite to invest in crypto markets. As a Pax token holder, you can rest easy knowing you can redeem USDP 1:1 for U.S. dollars whenever you like. This backing, along with its charter and compliance with regulatory bodies, makes Pax Dollar a viable hedge against dollar inflation, economic uncertainty and crypto risks.

Pax Dollar (USDP): The World’s Leading Fully Regulated Stablecoin

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards