Bybit Launches Revamped Grid Trading Bot to Expand Growing Range of Trading Products
- Written by Telegraph Magazine
VICTORIA, SEYCHELLES - Media OutReach - 16 September 2022 - Bybit, one of the world's fastest growing cryptocurrency exchanges, has announced the launch of two new grid trading bots. Building on the success of the original trading bot, which has seen a total trading volume of over $120,000,000 and counting.
After this milestone, Bybit's new bots will allow users to take their trading to the next level with an updated spot trading bot, and an advanced dollar-cost average (DCA) bot. The new functionalities will be available to all users on Sept. 16.
Bybit's new Spot Grid Bot executes low purchase orders and high sell orders during lateral price movement. The system ensures profitability each time the sale price exceeds the purchase price, thus eliminating the need for market forecasting.
The upgraded Spot Grid Bot features artificial intelligence (AI) that sets parameters in order to maximize capital efficiency. The bot also has free-to-follow strategies with high APY and arbitrage performance, and responsive customizable strategies that allow users to design tactics and take advantage of market trends.
Furthermore, Bybit has added "Arbitrage Ranking" to the Trading Bot Leaderboard so users can easily identify and learn from the most effective trading strategies.
The state-of-the-art DCA Bot offers users the option to automate their purchases of crypto assets by selecting the amount and interval of their investments. This strategy, known as DCA-ing, is a well-known and time-tested way to effectively balance risk and return in a volatile market.
The minimum trading amount is $1 for DCA bot, and $3 for the grid bot.
For both bots, once a user has set up their trading parameters and are earning a good return, they can share their strategy with fellow traders with the click of a button. And users who engage either one of the new bots will enjoy zero trading fees for a limited period as Bybit celebrates the 10 million users milestone with the "Perfect 10 Party" campaign.
Building on Bybit's VIP program, which provides regular users reduced trading fees as well as discounts, VIP users can enjoy the same trading discounts using the new bots. Those on track to becoming VIPs can more quickly advance their level thanks to the bot's higher trading frequency.
Bybit is the most reliable, stable, and usable cryptocurrency exchange in recent years, offering the best liquidity and smallest spread. Unique among major exchanges, Bybit has maintained a track record of 99.99% up rate, with no overload nor downtime with its robust 100K TPS matching engine.
"Our original trading bot has only been live for a few months and is already incredibly popular," said Ben Zhou, co-founder and CEO of Bybit. "Our clients especially loved the bot's copy trading function, which allows them to copy successful bots created by other users. Grid trading bots have proven themselves as a profitable trading methodology for their users, especially in a market as fluid as crypto that trades 24/7. At Bybit, we are always on the lookout for products and services that can help our users achieve their financial goals, whatever the overall market conditions."
Finally, those who are new to Crypto Trading Bots or keen to learn about all things crypto can discover a new world of finance via Bybit Learn and join our dedicated trading bot group via Discord.
Hashtag: #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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