Bybit Lending was designed to provide a passive lending stream for users, which is why it includes a system that pays interest hourly. Furthermore, users are able to deposit and redeem their funds at any time thus allowing them to plan their deposits according to market fluctuations. As far as risk management goes, the service benefits from Bybit’s own risk management systems that ensure users’ assets are secured throughout the lending process.
Those who are interested in the new Bybit lending service can visit the Bybit website or access the Bybit App version 4.16. In essence, the service allows lenders to contribute their idle crypto assets to a pool to earn interest payouts.
Borrowers can leverage loans for several earning strategies, including trading Bybit’s perpetual contracts or capturing a spread using Bybit Earn. All borrowers will be required to post collateral greater than or equal to the loan amount to ensure the safety of lenders’ capital.
Bybit officials talked about this new lending product and emphasised its potential to bring new capital efficiency opportunities to their users. They also talked about their goals to make the world of Web3 more accessible and uncomplicated.
In April 2023, Bybit launched a new AI programme that supports smart trading with personalised product and strategy recommendations. The programme is named Tools Discovery, and it is one of the first AI systems of its kind on the cryptocurrency market according to Yahoo. The system relies on back-tested data to suggest strategies that respond to current market conditions. This allows users to conduct data-driven decisions that are best suited to their unique profile. In essence, the system allows users to make emotionless, accurate decisions.
Furthermore, Tools Discovery can also aid users in discovering new strategies and products while providing insights into their investing style. These personalised suggestions appear alongside other successful strategies with proven returns.
In March 2023, Bybit partnered with Talos to give institutional clients increased access to digital asset trading. This partnership allowed Bybit to streamline access for institutions that are looking to get into the crypto space via the Talos platform. Additionally, the partnership enhanced real-time liquidity, improving the user experience on Bybit even further.
Bybit is a cryptocurrency exchange founded in 2018 that offers a crypto trader platform with a fast-matching engine, modern customer service, and multilingual community support. Bybit is a partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.
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