Cryptocurrency bot for ByBit

 

The Bybit derivatives exchange is quite popular among the cryptocurrency community. It is one of the top 10 trading platforms by daily trading volume according to CoinMarketCap. The platform offers a rich vector of services. The list includes P2P, spot trading, futures trading, and staking. Not too long ago, Bybit launched its NFT marketplace

 

With the RevenueBot trading bot service, you will be able to automate trading on Bybit.

Registration for the exchange

Registration on the exchange can be done through the official website, where you need to select "Registration". After that everything is standard, you have to enter your e-mail address and password;It is possible to do without E-mail, instead of it we write a mobile number.

 

It is worth noting that the site does not work in a number of countries that will be specified at the registration profile.

Platform safety

As with many top crypto platforms, customer security is a priority at Bybit. The exchange has two-factor account authentication, SMS and Google authenticators.

KYC

As for identity verification, good news for people who want to engage in cryptocurrency and remain anonymous. There is no identity verification on Bybit. In other words, you just need to create an account to get started with the platform.

 

However, it is worth keeping security measures in mind and secure your funds.

Deposit and withdrawal of funds

Only cryptocurrencies can be deposited on the platform, fiat is not accepted, so it's worth considering.  

 

Withdraw funds will also appear only in cryptocurrency at the address of a third party wallet. However, there is also a nuance here, in order to withdraw funds a user must go through Google authentication, otherwise the withdrawal will not be possible. 

 

Each coin has a withdrawal fee, and it will be shown in the withdrawal window.

Automated trading on Bybit

Platform users can automate their trading. This can be done with the RevenueBot trading bot service. 

 

The benefits of automated trading:

 

·         The trader does not need to be constantly at the monitor and follow the quotes on the chart. The trading bot will do it;

 

·         A robot does not need to rest. If a person needs to take a break from time to time, meet with loved ones or sleep, the bot does not need it all. It works quietly 24/7;

 

·         Not every trader is able to work with several trading pairs on different markets at the same time, but a trading bot can;

 

·         Emotions are excluded from trading. When a trade does not go according to plan and the price reverses, it is easy to panic and make a rash move that will lead to a loss of the deposit. The trading bot is always cold-blooded at such moments, or rather it experiences no emotions and trades according to a pre-prepared strategy.

 

Based on the above, we can conclude that the trading bot for Bybit with automated trading can in many ways make a trader's life easier.