(MENAFN- Media OutReach Limited) DUBAI, UNITED ARAB EMIRATES - media outreach - 26 January 2023 - Bybit, the third most visited cryptocurrency exchange in the world, is excited to announce the launch of its new unified trading account (UTA), allowing investors to trade across multiple markets from one account.
bybit's uta is an all-in-one upgrade optimized for a seamless trading experience for traders. It provides all clients with a unified margin account, which makes it easier for investors to diversify their trades and orchestrate their trading strategy.
With the ability to trade across instruments such as spot, futures, perpetuals, and options all from one account, traders can quickly switch between different strategies without manually transferring assets between accounts. It also offers a clear view of risk and margin requirements.
Moreover, Bybit's UTA is an attractive option for traders thanks to features like shared margin, which allows traders to offset losses with gains without closing trades. UTA supports over 60 asset types for cross-margin trading and unrealized profits can be used to open new positions. The ability to cross-collateralize lending and borrowing within UTA offers unparalleled flexibility and capital efficiency.
The UTA also supports trading across five products: spot trading, margin trading, USDT perpetual, USDC perpetual and USDC options with more to come. For professional and institutional traders, the Open API option has been upgraded to Open API v5 for better precision and simultaneous connection.
'Deploying a UTA at Bybit resembles holding the master key to your personal trading universe. Trading and holding contracts across the digital asset space in a market that never sleeps is not always humanly possible. We understand that, for traders, managing multiple accounts and margins can be time-consuming and irksome,' said Ben Zhou, co-founder and CEO of Bybit.
'That's why we've created our unified trading account to streamline the process and enable traders to upgrade all holdings into a single account and optimize their floating P/L. The UTA, when combined with Bybit's ultra-fast trading platform and deep liquidity, is a powerful tool for any trader looking to optimize their strategy.'
'This is the end game for Bybit's account system,' said Hao Yang, head of options at Bybit, highlighting its risk management advantage. 'For instance, if you are a spot trader who bought BTC, you can buy a corresponding option to hedge your risk.'
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About Bybit Bybit is a cryptocurrency exchange established in 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's reigning Constructors' and Drivers' champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.
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