Bybit, one of the world’s leading cryptocurrency exchanges, announced on Wednesday, that it had launched its new unified trading account (UTA), allowing investors to trade across multiple markets from one account.
In its press release, the company said its UTA is an all-in-one upgrade optimized for a seamless trading experience for traders. The feature provides all clients with a unified margin account, which makes it easier for investors to diversify their trades and orchestrate their trading strategy.
The UTA gives traders the ability to trade across instruments such as spot, futures, perpetuals, and options all from one account. It also allows them to quickly switch between different strategies without manually transferring assets between accounts while offering a clear view of risk and margin requirements.
Furthermore, Bybit’s UTA is an attractive option for traders thanks to features like shared margin, which allows traders to offset losses with gains without closing trades.
The feature supports over 60 asset types for cross-margin trading, and unrealized profits can be used to open new positions. The ability to cross-collateralize lending and borrowing within UTA offers unparalleled flexibility and capital efficiency.
The cryptocurrency exchange further pointed out that the UTA also supports trading across five products: spot trading, margin trading, USDT perpetual, USDC perpetual and USDC options, with more to come. For professional and institutional traders, the Open API option has been upgraded to Open API v5 for better precision and simultaneous connection.
While commenting on this latest development, Ben Zhou, co-founder and CEO of Bybit, said;
“Deploying a UTA at Bybit resembles holding the master key to your personal trading universe. Trading and holding contracts across the digital asset space in a market that never sleeps is not always humanly possible. 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.”
Hao Yang, head of options at Bybit, added that;
“This is the end game for Bybit’s account system. For instance, if you are a spot trader who bought BTC, you can buy a corresponding option to hedge your risk.”
Bybit is a cryptocurrency exchange that was launched in 2018 and offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The low Bybit fees make it one of the fastest-growing cryptocurrency exchanges at the moment. Furthermore, Bybit reviews have generally been positive, as the exchange has provided traders with the necessary tools to trade successfully.