Bybit launches grid trading bot as Bitcoin struggles at $20,000

Bybit has announced the launch of its grid trading bot, available to all registered users from today onwards so that traders are able to automate their buy and sell orders and adjust their investment amount.

Grid trading has become a widely trending functionality and the Tel Aviv-headquartered crypto trading platform is keeping up with the times.

Ben Zhou, co-founder and CEO of Bybit, said: “Grid trading has been around for quite some time, and is a proven and profitable trading methodology especially for a market as fluid as crypto. At Bybit, we are always on the lookout for products and services that can help our users capitalize on the bull run and on the emerging digital asset class with ease and confidence. We are convinced that our users will be as excited about grid trading as we are in rolling it out for them.”

The grid trading system executes low purchase orders that lead to high sell orders during a lateral price movement. This ensures profitability each time the sale price exceeds the purchase price, thus eliminating the need for market forecasting.

It is quite effective in ranging markets, where prices experience regular fluctuations. The crypto market, however, is currently in a bearish momentum, which raises the risk for traders using the grid system.

Bitcoin lost the $30,000 handle last week and experience a painful drop towards the $18k-$20k area, which used to be asset’s all-time high, printed in late 2017 as the institutional space signaled real interest in the space. CME Group launched Bitcoin futures in December 18, a milestone for the crypto ecosystem.

Bybit provides smart AI parameters for each trading pair available on the bot. The parameters are developed and maintained by quantitative specialists to maximize profits for our users. Once a user has set up their trading bot and is earning a good return, they can share their strategy with a fellow trader with the click of a button.

Building onto Bybit’s VIP program that provides regular users reduced trading fees as well as discounts, a $500K prize pool, and real-life meet ups, VIP users can enjoy the same trading discounts using the new bots, while those on track to becoming VIPs can more quickly advance their level thanks to the bot’s higher trading frequency.

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Bybit has reported a 99.99% up rate throughout 2021 with no overload or downtime on its 100K TPS matching engine. The crypto derivatives platform enjoys depth of liquidity which improves execution and spread. The platform also helps traders managing risks against excessive losses with multi-layered liquidation protocols.

The firm 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 One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, Borussia Dortmund and Avispa Fukuoka.