Bybit Introduces Grid Trading Bot

　　Bybit, a cryptocurrency exchange platform, has announced the introduction of its grid trading bot.

　　The new grid trading tools were made available to all registered customers on June 20. Users will also be able to utilize the grid trading bot to automate their buy and sell orders and alter their investment amount, according to the company.

　　“By executing low purchase orders that lead to high sell orders during a lateral price movement, the system ensures profitability each time the sale price exceeds the purchase price, eliminating the requirement for market forecasting,” Bybit explained in a statement.

　　The grid trading bot aids users in implementing the Grid Trading Strategy. It allows customers to place a succession of buy and sell orders within a specified price range.

　　The technique is built on the trading premise of buying cheap and selling high to profit from the difference.

　　According to Bybit, their AI parameters enhance returns for our users. Users can discuss their approach with a fellow trader once they have built up their trading bot and are getting a good return, according to the business.

　　“Bybit's VIP users may enjoy the same trading savings utilizing the new bots, while those on their way to becoming VIPs can increase their level more quickly thanks to the bot's faster trading frequency,” the business said in an announcement.

　　Layoffs of Company Employees

　　However, the trading firm has joined the list of cryptocurrency exchanges that have indicated plans to lay off employees in order to reposition their operations in the midst of the ongoing crypto market slump, according to Blockchain.News.

　　The platform's Chief Executive Officer, Ben Zhou, announced the latest layoff in an internal letter shared with workers. Colin Wu, a Chinese independent cryptojournalist, shared a copy of Zhou's letter on Twitter, and it has been confirmed by other mainstream media sites.

　　Zhou stressed the need for downsizing in the letter, citing the fact that some employees are no longer needed in light of the looming economic reality. According to Zhou, the company's employment has increased by more than 300 percent since early 2020.

　　“Bybit is no different save from the fact that we have taken extreme measures to preserve our employees for as long as feasible during this crisis,” the company said of the current stock market bear market and the upheaval in the crypto market.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

　　iOS: t.ly/UUCj

　　Android: t.ly/cfYt