Bitcoin

Bybit, globally recognized as the third most frequented crypto exchange, has unveiled a groundbreaking risk management tool unique to the crypto exchange realm, dubbed &#34;Perp Protect.&#34;This pioneering tool procures options contracts automatically, providing a convenient hedge for both long and short positions, thus ensuring uncomplicated downside protection.Developed exclusively by Bybit, Perp Protect is unparalleled and unavailable on other leading crypto platforms. It assures traders a semblance of serenity by proposing options contracts that shield investments from unfavorable price movements, without hampering the underlying investment strategy.This innovative tool is crucial for traders who foresee market fluctuations, allowing them to fortify their positions amidst volatile market conditions.Perp Protect distinguishes itself with its automatic options acquisition, delivering intelligent recommendations and allowing traders to proficiently traverse market vicissitudes.Perp Protect serves as a dependable protection layer for novice perpetual traders, instilling confidence and allowing them to delve into perpetual trading with minimized risk of losses. This tool is notable for its user-friendly design, necessitating just a couple of clicks to activate, thus making its myriad of benefits seamlessly accessible.Furthermore, it employs a smart algorithm which incessantly assesses market situations, providing optimal protection at minimal costs, starting at 2% of a user’s initial margin.Ben Zhou, Bybit’s CEO and co-founder, emphasized the importance of providing traders with tools that augment their trading experience and reduce inherent market risks. “In the evolving crypto landscape, it’s imperative for traders to have access to instruments that not only enrich their experience but also lessen the risks intrinsic to this vibrant market,” Zhou stated. “We are elated to present Perp Protect, a revolutionary solution ensuring tranquility and security to traders across the spectrum.”Established in 2018, Bybit stands as a top-tier cryptocurrency exchange offering a professional environment replete with an ultra-fast matching engine, round-the-clock customer service, and multilingual community support.Bybit, having etched a partnership with the eminent Oracle Red Bull Racing team of Formula One, continues to stride forth in the crypto domain, offering state-of-the-art services and solutions like Perp Protect, signifying a monumental stride in facilitating secure and informed trading for users ranging from novice to experienced, ensuring protection and peace of mind amidst the dynamic crypto market.Other Stories:<a href="https://www.cryptointelligence.co.uk/sec-faces-setback-as-judge-denies-immediate-access-to-binance-us-software/" rel="noopener noreferrer nofollow">SEC Faces Setback as Judge Denies Immediate Access to Binance.US Software</a><a href="https://www.cryptointelligence.co.uk/binance-us-faces-record-low-trading-activity-amid-mounting-regulatory-and-internal-challenges/" rel="noopener noreferrer nofollow">Binance.US Faces Record-Low Trading Activity Amid Mounting Regulatory and Internal Challenges</a><a href="https://www.cryptointelligence.co.uk/us-house-financial-services-committee-advances-bills-to-regulate-central-bank-digital-currency/" rel="noopener noreferrer nofollow">US House Financial Services Committee Advances Bills to Regulate Central Bank Digital Currency</a>

Bybit Unveils Automated Risk Management Tool 'Perp Protect'

Crypto Intelligence

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