The Bybit exchange has introduced two new grid trading robots. Spot Grid Trading Bot and an Advanced Dollar-Cost Average (DCA) bot are the two automated traders launched today. Part of Bybit’s plan is to expand upon the foundation laid by the first trading bot, which has already transacted over $120,000,000 in value. From September 16th, both of these new features will be accessible to everyone. Bybit has also provided a leaderboard so that users can know the best performing bots and how they work.
A look at the benefits of Bybit’s new trading bots
During sideways price movement, the new Spot Grid Bot by Bybit will carry out low buy orders and high sell orders. In order to optimize the return on investment (ROI), it uses AI to establish parameters. There is no need for market forecasting because the strategy guarantees a profit whenever the selling price is higher than the buying price.
Furthermore, Spot Trading also provides free-to-follow strategies that have excellent APY and arbitrage success. The flexible, adaptable strategies it provides make it easy for users to plan for and capitalize on market shifts.
The DCA Trading Bot, on the other hand, allows users to automate their purchases of crypto assets by choosing an investment amount and time period. DCA-ing is a tried-and-true method of achieving a satisfactory trade-off between risk and potential reward in an unpredictable market. The DCA bot has a minimum trade of $1, whereas the grid bot has a higher threshold of $3.
Ben Zhou, co-founder and CEO of Bybit, said:
“Our original trading bot has only been live for a few months and is already incredibly popular. 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.”
Once a user has established their trading parameters and is making a profit with either bot, they can easily share their strategy with other traders by just clicking a button. Customers who utilize one of the two new trading bots will also get free trades for a limited time. Offering this discount is part of Bybit’s “Perfect 10 Party” promotion, launched in honour of the company reaching 10 million customers.