UAE-based cryptocurrency exchange Bybit has launched its Bot Copy Trading system to improve the trading experience of its users. The new tool was integrated with Bybit Futures Grid Bots, and it was designed to simplify automation by allowing users to replicate grid settings from Master Traders.

In essence, through the utilisation of Futures Grid Bots, both Master Traders and Followers can automate their trading strategies and focus on strategy development rather than the specifics of individual trades. According to the official press release, one of the highlights of Bot Copy Trading is that it offers a streamlined strategy forecasting system. Users are not required to make precise market predictions.

Instead, they can specify their preferred price range and delegate the management of the rest to the bot. This approach aims to provide flexibility while mitigating risks, particularly in sideways markets. Users looking to improve their trading impact are presented with the opportunity to become Master Traders and improve their incomes.

In the company press release, representatives from Bybit emphasised the significance of the Bot Copy Trading feature and highlighted its main purpose of offering users a technology that not only simplifies trading but also maximizes their potential earnings. Master Traders can also leverage the capabilities of SyncMaster, a new tool facilitating alignment between Followers and their chosen Master Traders' strategies and risk management settings. This tool includes Forced Sync, ensuring strict adherence and prohibiting Followers from adjusting trade parameters to maintain alignment with the Master Trader's approach.

To initiate the process, Master Traders can register and create bots in their Master Trader subaccount, allowing Followers to automatically replicate their strategies. Followers are given the option to copy USDT Perpetual Trades, Trading Bots, or both. Other developments from Bybit In September 2023, Bybit launched the TradeGPT AI-powered trading assistant, a move that was in line with the company’s plans to become a Crypto Ark.

While the conventional ChatGPT lacks access to real-time data, TradeGPT leverages Bybit's market data, trading analytics, and technical analysis tools. This integration augments the AI model's capabilities by incorporating Bybit's extensive data resources. Bybit users gained the ability to access real-time market analyses and receive multilingual responses to their inquiries.

In essence, TradeGPT can take on the role of a mentor and guide in navigating the dynamic landscape of Web3. For instance, it can provide insights into market strategies, including the likelihood of success, and recommend appropriate products for these strategies. .