Bybit launches Unified Trading Account

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Altcoins
Bybit launches Unified Trading Account

Bybit exchange has announced the launch of its Unified Trading Account. The UTA will enable investors to diversify trades across several markets, all in one account on the exchange. 

Bybit UTA could simplify trading for its clients

According to the release, the Unified Trading Account is a “merged” margin account that will help investors trade on multiple markets coupled with several options. Traders can leverage the account for futures, spot, and perpetual trades all in one account. 

The UTA will also enable merchants to switch trading strategies without the hassle of moving funds from one account to the other. Moreover, the account will provide a margin and risk overview for investors, helping them determine which strategy to go forward with before executing trades. 

The release also listed the contracts offered by the UTA at launch, which include USDT perpetuals, spot trading, margin trading, and other USDC options. Bybit has promised that more trading products will be integrated as the account develops. 

Bybit’s UTA bears a feature dubbed as shared margin, enabling investors using the account to even out losses with gains before closing out trades. The option could attract investors having trouble balancing their losses out, as they can seamlessly transfer assets because they will all be under one account. 

Bybit’s UTA offers several asset types

According to the media update, the unified account will give investors access to more than 60 asset types for cross-margin trades. It will also enable them to cross-collateralize borrowing and lending, creating a flexible and efficient capital provision. 

“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. 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.”

Ben Zhou, Bybit CEO.

Zhou termed the UTA the “end game” for Bybit’s account system. 

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Samuel Mbaki Wanjiku

Samuel is an adventurous person who likes to explore topics in-depth and learn new things each day. His passion lies in gaining knowledge to help transform the world through his writing skills. He also believes in blockchain technology and its potential to usher in a cashless society. Currently, he is pursuing a Computer Science Bachelor’s degree driven by his fascination with emerging technologies. He has writing experience of about three years in different fields and two in blockchain technology.