- Unified Trading Account will allow traders to diversify their trades and plan their trading strategies.
- The UTA offers all of its investors a single margin account.
Bybit, one of the most well-known cryptocurrency exchanges, has come up with a new initiative for its investors. According to the latest announcement from the trading platform, it has introduced a new feature called, Unified Trading Account (UTA), a flexible all-in-one account option that provides multiple benefits for Bybit customers.
The Features of a Unified Trading Account (UTA)
The Unified Trading Account, Bybit’s new upgrade, is intended to provide traders with a seamless trading experience. Its wide-ranging features will allow traders to diversify their trades and plan their trading strategies, as it offers all clients a single margin account. Trading across a variety of instruments, including spot, futures, perpetual, and options, from a single account, enables traders to quickly switch between various strategies without having to manually move funds between accounts.
Ben Zhou, the co-founder, and CEO of Bybit, stated:
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.
Zhou further conveyed that Bybit’s intention behind the development of the unified trading account is to allow traders to upgrade all assets into a single account and maximize their floating P/L. He also added that the UTA is an influential tool for any trader aiming to optimize their approach “when combined with Bybit’s ultra-fast trading platform and deep liquidity.”
UTA features such as shared margin help Bybit traders cover losses with gains without terminating deals. For cross-margin trading, UTA offers over 60 asset classes, and unrealized profits can be leveraged to establish new positions. Within UTA, the ability to cross-collateralize lending and borrowing provides exceptional flexibility and capital efficiency.
Moreover, the UTA offers trading on five different products: spot trading, margin trading, USDT perpetual, USDC perpetual, and USDC options, with additional products on the way.