Bybit Launches Aurora, an AI-Powered Recommendation Tool for Bot Trading
In Brief
Bybit announced the launch of Aurora AI, an AI-powered recommendation tool to streamline and strengthen bot trading experiences.
UAE-based cryptocurrency exchange platform Bybit announced the launch of Aurora AI, an artificial intelligence-powered recommendation tool designed to streamline and enhance the bot trading experience for investors of all skill levels.
According to the announcement, the newly launched tool leverages the power of AI to analyze extensive sets of historical market data, identifying 18 optimal strategy parameters. Moreover, key factors including yield, arbitrage frequency and drawdown risk have been emphasized — to ensure a comprehensive approach to trading.
With Aurora AI, Bybit intends to make it easier for both new and experienced investors to use advanced trading strategies, by removing traditional obstacles.
The platform allows users to input their desired investment amount and directly replicate the proven trading strategies provided by Aurora AI. This user-friendly approach aims to democratize sophisticated trading strategies, making them accessible to a broader audience.
“Bybit is committed to empowering traders with cutting-edge tools and technologies,” said Ben Zhou, co-founder and CEO of Bybit. “The launch of Aurora AI marks a significant stride in our mission to make sophisticated trading strategies accessible to everyone. We are confident that Aurora AI will revolutionize the way investors interact with the market and help them achieve their financial goals.”
According to the cryptocurrency exchange platform, the Futures Grid Bot’s AI strategy boasts an impressive win rate exceeding 70%, demonstrating its efficacy in generating consistent returns. Furthermore, Aurora AI offers a diverse range of strategies across various asset classes, providing investors with the flexibility to tailor their approach to their unique financial goals.
An Emerging AI-powered Cryptocurrency Trading Bot
Diverging from conventional stock markets, the cryptocurrency market operates on a 24/7 basis. This demands continuous attention from traders, necessitating a constant vigil to seize lucrative opportunities and avoid potential losses. Consequently, the relentless nature of crypto trading has propelled the widespread adoption of AI-driven cryptocurrency trading bots.
Some of them include:
- 3Commas is one of the versatile platforms that integrates both manual and automated trading strategies. With its advanced trading tools, users gain the ability to effectively oversee and manage their assets across 16 major cryptocurrency exchanges, all through a unified and user-friendly interface.
- Pionex introduced a suite of innovative bots catering to diverse cryptocurrency trading strategies. The Grid Trading Bot facilitates seamless trading within set price ranges, executing 24/7 buy-low-sell-high actions. The DCA (Dollar Cost Averaging) bot employs the martingale strategy for ladder-buy and selling, effectively minimizing average holding costs and more.
- Altrady, another cryptocurrency trading platform, harmonizes operations across 17 plus exchanges. With multiple sets of trading bots such as the GRID Bot with Trailing Up & Down, Signal Bot Spot & Futures, and Trading View Webhooks, the platform incorporates key features like setting take-profit targets with trailing for optimal profitability, advanced stop loss configurations, and position size adjustments based on desired risk percentages.
- Kryll introduced an AI-powered cryptocurrency trading bot automation software aimed at streamlining the trading experience for day traders. With its Crypto Builder catering to beginners, even those without coding expertise can create scripts, while the Marketplace provides a venue for traders to share strategies for a fee.
Multiple other platforms exist. However, the point is within the dynamic landscape of cryptocurrency trading, AI presents a dual advantage of automation and insightful analysis.
Investors in the cryptocurrency space are embracing trading bots, leveraging automation to execute transactions based on essential technical indicators.
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About The Author
Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
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Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.
