Unified Trading Account Now Live For Bybit Users

  1. Bybit exchange has Launched a Unified Trading Account (UTA).
  2. This will allegedly transform the Trading Experience for Investors.
  3. UTA allows around 60 different asset classes for cross-margin trading.

Bybit, a cryptocurrency exchange, has released a statement saying that it has introduced a Unified Trading Account (UTA), a single point of access for traders using both spot and futures markets.

The introduction of a global margin account is intended to make it possible for customers to diversify their trades and coordinate their trading strategy. Traders will be able to access both spot trading pairs and derivatives trading pairs via a single interface. 

In the beginning, the UTA release will enable five different kinds of accounts, including spot trading, margin trading, USDT perpetual, USDC perpetual, and USDC options. There will be other trading regimes available in the future.

Ben Zhou, Bybit CEO says;

We understand that, for traders, managing multiple accounts and margins can be time-consuming and irksome. 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.

In addition, Bybit’s UTA is an appealing choice for traders since it offers features such as shared margin. These features make it possible for traders to compensate for losses with winnings without having to close transactions. 

UTA allows around 60 different asset classes for cross-margin trading, and it is possible to utilize unrealized gains to establish new positions. The ability to cross-collateralize lending and borrowing inside UTA enables an unprecedented level of flexibility and efficiency with regard to capital allocation.

Read Also :

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Other posts