- Bybit exchange has Launched a Unified Trading Account (UTA).
- This will allegedly transform the Trading Experience for Investors.
- 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.
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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.
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