HomeAIBybit: the crypto-exchange offers new AI tool based on ChatGPT

Bybit: the crypto-exchange offers new AI tool based on ChatGPT

Bybit has announced the integration of AI-based ChatGPT into its trading tools. 

The new crypto-exchange feature is called ToolsGPT. 

Bybit and the new AI-based crypto trading tool based on ChatGPT

The crypto-exchange Bybit announced a few hours ago its new function ToolsGPT, namely a new tool that integrates ChatGPT, thereby based on AI

Basically, the new ToolsGPT will enable crypto traders to take advantage of a Machine Learning (ML) and Artificial Intelligence (AI) capabilities. 

It is therefore a feature that will allow all types of users, such as participants or experts to obtain predictions on both long-term price trends and short-term price fluctuations

Not only that, Bybit describes that ToolsGPT is a platform with an easy-to-use interface and that access is free of charge

ChatGPT and AI continue to take root in the crypto sector

It is since the beginning of 2023, that people have been thinking about what might happen in the crypto sector after ChatGPT arrived. The ChatBot developed by OpenAI, is based on Artificial Intelligence and Machine Learning and uses these technologies in a way never seen before. 

In the cryptocurrency sector, what had already been envisioned was precisely the creation of Bots that would be able to give financial advice, given their degree of knowledge learning. 

This year, in addition to this ByBit news, Crypto.com in May also announced Amy, the crypto-exchange’s first AI companion, dedicated to helping users about the industry

Crypto.com‘s Amy is based on ChatGPT and AI, but unlike ByBit’s ToolsGPT, it is not dedicated to predicting any prices on cryptocurrencies, it is just that Bot that supports users on trading activities.

Coming out of the crypto-exchange category, the Solana Foundation also recently released a plugin for ChatGPT, which integrates AI with the layer 1 blockchain

It is an open-source reference implementation that allows users to interact with the Solana network, directly from ChatGPT through the plugin available for download on Github. 

That plugin can be used to buy NFTs, transfer tokens, inspect transactions, interpret public account data, and find NFT collections according to the lowest price

ChatGPT comes to the App Store only in the US

Last month, OpenAI launched ChatGPT within the Apple Store and it was immediately a huge success. Not only that, Apple reportedly labeled the chatbot a “must have” among the apps it offers. 

At the moment, ChatGPT is only available in the United States, but it may come to other countries as well. 

However, this does not mean that the tech giant is interested in AI; rather, it seems to want to exploit the success of others to take the now well-known 30% commission on internal sales of its App Store. 

In this regard, Apple will take from $6 to $20 a month from iOS users for each of their ChatGPT Plus subscriptions.

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.