Home News Bybit Introduces Innovative UTA for Investors

James Carter

25 Jan 2023

Bybit Introduces Innovative UTA for Investors

The cryptocurrency exchange Bybit, which is among the most well-known in the industry, has introduced a brand new program designed specifically for its investors. According to the most recent release made by the trading platform, it has implemented a new feature that is being referred to as a “Unified Trading Account” (UTA). Bybit users can use this feature to set up an all-in-one account that they can customize, which has many benefits.

The Characteristics of a Unified Trading Account (UTA)

Bybit’s newest improvement, known as the “Unified Trading Account,” is designed to provide users with a streamlined experience when it comes to trading. Since it only provides its customers with a single margin account, traders may easily plan their trading strategies and diversify their investments using the platform’s extensive set of capabilities. Traders are able to swiftly switch between multiple trading strategies when they trade across a variety of instruments from a single account. These instruments include spot, futures, perpetual, and options trading. Traders do not have to shift funds between accounts physically.

Zhou went on to explain that Bybit’s goal in developing the unified trading account was to make it possible for traders to consolidate all of their holdings into a single location so that they could make the most of their floating profit and loss. In addition to this, he stated that the UTA is a significant instrument for any trader who is interested in optimizing their strategy “when combined with Bybit’s ultra-fast trading platform and deep liquidity.”

Bybit traders are able to cover losses with gains without having to terminate agreements thanks to characteristics of UTA, such as shared margin. UTA provides over 60 different asset classes for use in cross-margin trading, and a portion of unrealized earnings can be used as leverage to open new positions. Within UTA, the outstanding flexibility and efficient use of capital are both made possible by the capacity to cross-collateralize lending and borrowing.

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Also, the UTA currently allows trading on the following five different goods: spot trading, margin trading, USDT perpetual, USDC perpetual, and USDC options. In the near future, the UTA will also enable trading on more products.