Bybit launches upgraded Spot Grid Trading and DCA Trading Bots
Automated Trading software and crypto trading bots are increasingly popular in the cryptocurrency market. It is becoming evident that the main cryptocurrency exchanges are interested in these automated trading systems and offer them as a tool to help traders automate their operations in the crypto market.
Two new grid trading robots have been introduced by the Bybit exchange. Today’s automated traders are Spot Grid Trading bot and Advanced Dollar-Cost average (DCA) robot. Bybit plans to build on the success of the first trading bot that has transacted more than $120,000,000 in value. Both of these new features are available to everyone starting September 16th. Bybit also offers a leaderboard that allows users to see the top-performing bots and their working methods.
Take a look at the new trading bots from Bybit.
The new Spot Grid Bot from Bybit will place low buy orders and high sales orders during sideways price movements. It uses AI to determine parameters in order to maximize the return on investment. The strategy does not require market forecasting as it guarantees a profit if the selling price exceeds the buying price.
Spot Trading offers a variety of strategies that are easy to follow and have high arbitrage success rates. Its flexible and adaptable strategies make it easy to plan for market shifts and capitalize on them.
DCA Trading Bot allows users to automate the purchase of crypto assets. Users can choose an investment amount and a time period. DCA-ing, a proven method to achieve a good trade-off between potential reward and risk in an unpredictable market, is tried-and-true. Grid bots have a lower threshold of $3, while DCA bots require a trade minimum of $1.
Ben Zhou, CEO and co-founder of Bybit, stated:
“Our trading bot is still in beta and has already become very popular. The bot’s copy trading function allows users to create successful bots and then copy them. This was a huge hit with our clients. Grid trading bots are a very profitable trading method for their users, especially in a market that is so fluid like crypto.
Once the user has set their trading parameters and made a profit, they can share their strategy with other traders simply by clicking a button. For a limited period, customers who use one of the new trading bots will be eligible for free trades. This discount is offered as part of Bybit’s “Perfect 10 Party”, a promotion that celebrates 10 million customers.