🔥AMA: GTA Ventures <> Bybit🔥

Part 1: Introduction

1. Can you introduce yourself to the GTA Trading Community?

Hi, my name is David Nguyen. Bybit’s BD in Vietnam. Today, I am very honored to have Bybit’s representative share an AMA about Grid Bot with the GTA Ventures community.

2. Can you describe what Bybit is in a few sentences?

Bybit was founded in March 2018. Bybit is considered the fastest growing exchange. Currently, Bybit has a 24-hour futures trading volume ranked in the top 2–3 in the world. Bybit exchange is full of features like spot, futures, P2P, launchpad, launchpool, Byvote trading. In addition, the exchange also has Grid Bot and Copy trade. Bybit is currently a strategic partner of RedBull and the famous Borussia Dortmund team.

Part 2: Questions Form

Today’s AMA session on the topic of Grid Bot, can you share what Grid Bot is and how users can use Grid Bot?

Grid Bot is Bybit’s newly launched trading engine. This is a tool to help users always “buy low, sell high” in a certain price range. Basically, users will always be profitable using Grid Bot.

About the guide to using Grid Bot, we have cooperated with KOL to produce a video tutorial, you can see detailed instructions here:

https://www.youtube.com/watch?v=tNHXI- xw5Ys

Guests selected the 10 best questions to answer submitted before the start of the AMA, now is the time to answer these questions

1. Grid bot hits a single pair or multiple pairs at once?

Grid Bot allows you to trade all trading pairs at once. Bybit does not limit the number of trading pairs you can participate in. You just need to allocate a reasonable capital for your trades.

2. How to get started with spot grid trading? And what is the difference between Grid bot trading and spot trading?

To be able to start trading, you go to bybit.com or go to Bybit’s app. Select the item: Trading Bot and start trading. Detailed instructions on how to use Grid Bot, you can see here: https://www.youtube.com/watch?v=tNHXI-xw5Ys

3. How much money is needed to use grid bot?

- You only need a minimum of $10 to start trading grid bots. Grid Bot is spot trading, you just need to satisfy the minimum amount of spot trading pair.

However, you also need to pay attention that Grid Bot transactions buy low, sell high continuously, so you need to prepare additional transaction fees!

4. How much profit do I have to pay for copying the Grid Bot strategy of a professional trader? What are the pros and cons of this copy trade?

You do not need to pay for copying Grid Bot strategy on Bybit. You are completely free to use Grid Bot on Bybit.

Advantages of copying someone else’s Grid Bot strategy:

  • You will see new optimal trading strategies APY can go up 2000%
  • You don’t need to check and set the price yourself
  • The operation is very simple, you just need to enter the amount you want to trade
  • The strategies that appear for you to copy are from professional traders, and their strategies have been proven to work

Disadvantage:

  • Despite being a great advantage, Grid Bot also has limitations. It is Grid Bot that only trades in a certain price bracket. Outside of this price bracket the bot will not run
  • So that trading strategy may be optimal at that time. But when the market fluctuates too much, the price of the trading pair may have surpassed the price bracket you have preset.
  • When the bot crosses the lower price bracket, the bot will stop and you will hold the tokens. When the bot crosses the above price bracket, the bot has already sold. So you need to check if the price is running in the price bracket you have set up or not to adjust it properly.
  • When you copy someone else’s trading strategy, there may not be a pair of tokens that you want to trade.

5. Is the grid bot fee high?

Grid Bot is completely free. You only need to pay the transaction fee.

6. How beneficial is Grid bot trading compared to regular trading?

Grid Bot helps you to always buy low, sell continuously in the price range you have selected. So you always get profit when using Grid Bot, as long as the price is still running within the price bracket you have set

7. Gird Bot usually applied in the sideway market. So when the market is volatile, can I use the copy trade feature? Does the bybit floor have or plan to open the copy trade feature?

Copy trading and Grid Bot are 2 different features of Bybit. Copy trade is futures trading. In copy trading, you will copy exactly the trading orders of other people (usually professional traders). Grid Bot is Spot trading, which helps you to always buy low and sell high within the price bracket you have set up.

Bybit has launched a copy trade feature for futures trading

8. What is the maximum number of Grids I can place? And how many traders can I copy Grid Bot strategy at the same time?

- The maximum number of Grids you can install is currently 50 grids.

Bybit does not limit the number of commands you can copy from others when using Grid Bot.

9. Transaction fee is also a very important part. So do I have to pay the transaction fee in Bitdao or usdt or something else? And how much is the total buying and selling fee for a transaction with Grid?

Bybit’s Grid Bot is completely free, you don’t need to pay any fees when using Grid Bot

You will still have to pay the transaction fee on the spot your order is executed (Because Grid Bot will continuously buy low, sell high). Bybit’s current spot transaction fee is 0.1%

Part3: Live Question

1.Can you list 1–3 great features of grid bot that set it ahead of its competitors? What competitive advantage does your platform have that you feel most confident in?

- Bybit’s Grid Bot helps you to always buy low, sell high. So you always make a profit when using Grid Bot, as long as the price is still within the price range you set.

- Bybit’s Grid Bot advantage compared to other exchanges:

+ Many trading pairs

+ Has the feature of copying other people’s Grid bot transactions. APY can go up to 3000%

+ Transaction fees at Bybit are cheap

2.What percentage of profit do I have to pay and what percentage of profit do I get when I copy the Grid Bot strategy of a professional trader?

- You do not need to pay any transaction fees when copying other people’s Grid Bot transactions.

- You will get 100% profit from the Grid Bot transaction you copy

3. I’m new to the market, is the Grid Bot interface easy to use? When I have a problem or don’t understand, can I get it resolved in time?

- Grid Bot is very easy to use, you just need to specify the price range you want to buy and sell. For example ETH in the range 1100–1300. Then Grid Bot will help you automatically buy low, sell high in this price range.

- You also need to determine the Grid number, i.e. the number of purchases and sales in that price bracket

- In Bybit, things are much simpler, when you can copy someone else’s Grid Bot. Their Grid Bot has proven to be effective with APY up to 3000%.

4. People who want to trade on Grid Bot THI FEE trade stars. What does Grid bot offer to users?

- Grid Bot provides the ability to automatically trade in the price bracket you have selected. It will always buy low, sell high in that price range so you will always make a profit

- Grid Bot is free, but every time you buy and sell there will be a spot transaction fee. Spot transaction fee at Bybit is 0.1%

5. I wonder if this Grid Bot is applicable to all spot , futures , margin trades or only one type of transaction ?

- Grid Bot is spot trading

- The outstanding feature of Grid Bot compared to other exchanges is that you can copy Grid Bot transactions from others

6. Is it easy to set up a grid bot?

- Setting up Grid Bot is very easy, you just need:

+ Determine the price bracket you want to buy and sell. Example ETH 1100–1300

+ Define Grid — ie the number of buys and sells in that frame

+ Enter the amount you want to trade

7. Will copying another trader’s Grid Bot strategy lead to slippage in order execution?

Grid Bot is Spot trading so you don’t need to worry about big slippage when matching orders

8. DavidNguyen88 grid bot is suitable to use when the market like? Down, Sw or Uptrend will be more optimal

- Grid bot is effective in the sideways market, because the price will always go up and down in a certain price frame. If you determine that price range, with Grid Bot you will always trade profitably

- You can use Grid Bot for any trading pair at Bybit

9. Can you describe why we should use Grid Bot? What advantages do traders see in the Bybit platform using Grid Bot?

- The reason you should use Grid Bot is that it is an auto-trading tool, and it always buys low and sells high. So you will always be profitable (as long as the price runs within your chosen price range)

10. How to optimize Grid bod profit?

To optimize profits in Grid Bot you need:

+ Identify tokens/coins that you are willing to hold in the long term

+ Analyze to choose the price range where you think the price will sideway in that price range

+ Determine the number of Grid (ie the number of times to buy and sell in that price frame)

+ Choose the right amount

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GTA Ventures

GTA Ventures

GTA Ventures is one of the incubators for cryptocurrency projects in Vietnam.