The integration of AI will make the Smart Arbitrage trading bot more intuitive and present additional opportunities for gains as OKX aims to target a wider user base and expand its footprint across the globe.
OKX, one of the largest digital asset trading platforms in the world, is set to debut a new facility for its users engaging with arbitration strategy, allowing them to automate trades with the help of an updated Smart Arbitrage trading bot. The goal of the new initiative is to improve user experience and simplify their trading strategies with the help of automation.
According to a report from CoinDesk, the new facility from OKX will improve the effectiveness of the Smart Arbitrage trading bot and allow the users of the crypto exchange to maximize their return on investments. OKX will allow users to create a balance between spot and perpetual markets and have access to the possibilities of better gains.
Before the introduction of the automation feature, users had to place the orders directly which presented hassles for them and eventually led to losses as a result of inaccuracies. However, these complexities have been eradicated with the help of artificial intelligence (AI).
The integration of AI will make the Smart Arbitrage trading bot more intuitive and present additional opportunities for gains as OKX aims to target a wider user base and expand its footprint across the globe. The bot seeks to navigate through potential risks as a result of market fluctuation and provides two modes: custom and smart.
Lennix Lai, the Global Chief Commercial Officer at OKX, stated that the upgraded Smart Arbitrage bot will pave the way for automated and user-friendly trading solutions that cater to traders of varying experience levels in the cryptocurrency market. He added:
“By introducing further automations, we’ve improved the accessibility and ease of executing sophisticated strategies like arbitrage. As the market evolves, we remain committed to developing advanced capabilities that meet the needs of our growing customer base.”
OKX Prioritizes Gains
OKX will be prioritizing gains for arbitrage traders. Arbitrage trading activity is aimed at taking advantage of the market price fluctuations in an attempt to reduce the volatility of the asset. The practice involves traders buying assets in the spot market and selling them in the perpetual market at the same time, minimizing price swings.
With the custom mode, OKX users can initiate trades based on their knowledge and use the AI-powered bot to their advantage. On the other hand, with the smart mode, the AI bot will select strategies along with entry and exit positions.
It is important to note that the world’s largest digital asset exchange, Binance, also provides automated trading bots. It seems that the two exchanges have been trying to compete with each other, one outperforming the other. According to the data from CoinMarketCap, OKX is the third-largest exchange with a trading volume of $1.39 billion. Meanwhile, Binance’s trading volume stands at $9.9 billion.
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