Bybit Launches Perp Protect to Redefine Crypto Risk Management

Bybit Launches Perp Protect to Redefine Crypto Risk Management

UTC by Benjamin Godfrey · 3 min read
Bybit Launches Perp Protect to Redefine Crypto Risk Management
Photo: Depositphotos

Bybit noted that traders anticipating market volatility can leverage Perp Protect to secure their positions, giving them a proactive edge in navigating turbulent market conditions.

Bybit, one of the world’s leading crypto exchanges, has taken a bold step by introducing Perp Protect, an industry innovation tool poised to reshape the way traders safeguard their investments.

The Birth of Bybit Perp Protect

Bybit, a platform known for its commitment to providing traders with cutting-edge features, has developed Perp Protect as a response to the challenges faced by crypto traders. Traditional risk management strategies often require complex calculations, manual execution, and deep market knowledge, making them daunting for many traders.

Perp Protect aims to simplify this process by offering an intuitive and automated solution. One of the standout features of Perp Protect is that it is exclusively available on Bybit, setting it apart from other top crypto exchanges. This exclusivity underscores Bybit’s dedication to providing its users with tools and features that are not only innovative but also unavailable elsewhere in the market.

Ben Zhou, co-founder and CEO of Bybit, emphasized the importance of providing traders with tools that enhance their experience and mitigate the risks associated with the dynamic crypto market.

He stated:

“With Perp Protect, we are proud to offer a solution that brings ease and security to traders of all levels.”

This statement reflects Bybit’s commitment to fostering a safer and more accessible trading environment for its users.

Benefits of Perp Protect

Bybit noted that traders anticipating market volatility can leverage Perp Protect to secure their positions, giving them a proactive edge in navigating turbulent market conditions. Simply put, this tool empowers traders to stay ahead of the curve and make informed decisions.

Perp Protect operates by automatically acquiring options contracts to hedge both long and short positions. Its primary purpose is to suggest options contracts that protect against adverse price movements, ensuring that traders can safeguard their positions while staying true to their investment strategies.

One of the standout features of Perp Protect is its user-friendliness. Using this tool requires just two clicks, making it accessible to traders of all experience levels. Bybit has prioritized user convenience, ensuring that the benefits of Perp Protect can be accessed effortlessly. This is a critical aspect of its appeal, as crypto trading can be complex, and traders appreciate tools that simplify the process.

Additionally, Perp Protect’s intelligent algorithm continuously evaluates market conditions to offer optimal downside protection. Importantly, this protection comes at a cost as low as 2% of a user’s initial margin. This cost-effectiveness makes it an attractive option for traders looking to manage their risk without eating into their potential profits.

It is worth mentioning that the launch of Perp Protect comes only days after Bybit announced TradeGPT, an Artificial Intelligence (AI) tool that combines ChatGPT’s language model with real-time data to provide market insights and user support. This demonstrates Bybit’s dedication to providing traders with a seamless trading experience in its platform.

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