It is quite effective in varied markets, where prices experience regular fluctuations.
Bybit has announced the launch of its grid trading bot, available from today to all registered users so that traders can automate their buy and sell orders and adjust their investment amount.
Grid trading has become a hot feature and the Tel Aviv-based crypto trading platform is keeping pace.
Ben Zhou, Co-Founder and CEO of Bybit, said, “Grid trading has been around for a while and is a proven and profitable trading methodology, especially for such a fluid market as crypto. At Bybit, we are always on the lookout for products and services that can help our users take advantage of the uptrend and new digital asset class with ease and confidence. We are confident that our users will be as excited about network trading as we are about rolling it out for them.
The grid trading system executes low buy orders that lead to high sell orders during sideways price movement. This ensures profitability whenever the selling price exceeds the buying price, eliminating the need for market forecasts.
It is quite effective in varied markets, where prices experience regular fluctuations. The crypto market, however, is currently in a bearish momentum, which increases the risk for traders using the grid system.
Bitcoin lost the $30,000 handle last week and saw a painful drop towards the $18,000-$20,000 area, which was once the highest level of the asset, printed in late 2017 as the institutional space signaled a real interest in space. CME Group launched Bitcoin futures on December 18, a milestone for the crypto ecosystem.
Bybit provides smart AI settings for every trading pair available on the bot. Parameters are developed and maintained by quantitative specialists to maximize profits for our users. Once a user has set up their trading bot and gets a good return, they can share their strategy with another trader with one click.
Building on Bybit’s VIP program which offers regular users reduced trading fees as well as rebates, a $500,000 prize pool and real-life dating, VIP users can enjoy the same trading discounts using the new bots, while those on their way to becoming VIPs can progress through their level faster thanks to the bot’s higher trading frequency.
Bybit reported a 99.99% lift rate throughout 2021 with no overload or downtime on its 100K TPS matching engine. The crypto derivatives platform boasts a depth of liquidity that improves execution and spread. The platform also helps traders manage risk against excessive losses with tiered liquidation protocols.
The company was founded in 2018 and offers online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients.
Bybit has signed sponsorship deals with Formula 1 racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, Borussia Dortmund and Avispa Fukuoka.