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Crypto Leader Expands Automated Functions to Improve Accessibility to Futures Trading
VICTORIA, Seychelles, 07 November 2022 -/African Media Agency(AMA)/- Bybit, the world’s third most visited crypto exchange, today launched a new trading bot focused on crypto’s multi-billion dollar futures market. The announcement marks the latest step in Bybit’s journey to democratize financial services and provide automation and AI for customers to maximize their time and investment while trading.
Join our WhatsApp ChannelDesigned to help reduce the risk and price volatility that can sometimes accompany futures trading, the Bybit Futures Grid Bot provides a safer and more assured operating environment for those seeking to experience and learn about futures.
Bots automates buy and sell orders when the price reaches preset prices. Bybit’s Futures Grid Bot sells futures contracts when the price is above entry and buys when below. By automatically buying low and selling higher, users profit from price volatility without the need to actively manage their positions. AI also allows preset parameters based on short/long/neutral positions.
Initially introduced with core functionality, Futures Grid Bot is designed to get users comfortable with how it works and how to use it. Phase two will then see more advanced and sophisticated features rolled out to accommodate the increased confidence levels and needs of advanced traders.
Using Futures Grid Bot, traders can use leverage, a core aspect of futures trading, to trade greater volume while benefiting from the Bot’s automated features for greater reassurance and reduced downside risk. It also utilizes Bybit’s industry leading liquidity depth, which can help reduce slippage, and is designed specifically for high performing traders seeking smarter and more perceptive trading through automation.
“Our Futures Grid Bot is part of our continuous efforts to simplify trading for our customers and accelerate the use of automation and AI,” said Bill Xing, head of financial products at Bybit, “Futures Grid Bot is a core element of our ongoing mission to level the playing field and democratize financial services, and is a perfect example of our trademark philosophy – innovation through iteration.”
The Futures Grid Bot is the latest in a series of automated resources from Bybit, and follows the success of its Spot Grid Bot and DCA Bot launched earlier this year. Automation and AI, are key elements of Bybit’s larger plans to disrupt the status quo and allow easy, affordable, and assured access to sophisticated trading environments for everyone.
Bybit operates one of the industry’s most reliable, high-precision trading systems. It features a robust and resilient 100,000 TPS matching engine, designed to withstand any size, volume, or spike of crypto market activity, while the derivatives platform employs real-time market data using multiple pricing metrics to protect users against market manipulation. Bybit is also widely acknowledged to command one of the highest liquidity levels in the industry.
As with all its products, Bybit provides extensive training and educational resources as well as the risks and rewards of trading with leverage and actively encourages users to learn best practices before using advanced trading techniques.
Distributed by African Media Agency (AMA) on behalf of Bybit.
About Bybit
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
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Source : African Media Agency (AMA)
Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
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