Bitget has added a new function based on Artificial Intelligence (AI) for its Grid Trading strategies.
Summary
Bitget and the new AI function for Grid Trading strategies
Crypto exchange Bitget has just announced the launch of a new Artificial Intelligence (AI)-based feature for its Grid Trading strategies.
The leading crypto derivatives and copy trading platform wanted to make the investment method more sophisticated and more accessible for new cryptocurrency traders without deep trading experience.
Basically, Grid Trading is a quantitative strategy that uses trading algorithms to automate users’ transactions.
These are precisely trading algorithms that place buy and sell orders within a predefined price range at specific time intervals and follow the “buy low, sell high” strategy to execute trades.
These “smarter” trading methods basically eliminate the human emotional factor that takes over the decision-making process, in order to execute a planned strategy, saving time and improving effectiveness.
Bitget: trading gets “smarter” even for beginners
Bitget’s new AI feature aims to make trading “smarter,” but more importantly also more accessible for beginners, those with no trading experience.
And indeed, the grid trading strategy involves analyzing historical data to identify market trends and optimize trading parameters for specific market cycles. By studying price movements and volatility under various conditions, traders can determine the price range and intervals between buying and selling.
This strategy is based on patterns that emerge from large data sets, which provide insights into asset performance at different phases.
Users can choose from a range of AI bots, including “conservative,” “safe,” and “aggressive,” to suit different risk appetites.
In this regard, Gracy Chen, Managing Director of Bitget said:
“The new feature aligns with Bitget’s goal of providing tools for users to trade smarter. AI products can make sophisticated strategies more accessible, resulting in more reliable systems and optimized profits.”
The crypto-exchange’s entry into the lending sector
Earlier this month, Bitget entered the lending sector, launching its new Crypto Loans product.
Not a new AI technology, but instead a direct launch of a new service aimed at a new target audience.
With Crypto Loans, Bitget wanted to give its own answer to the growing demand for cryptocurrency loans, targeting the audience of users deterred by traditional lenders.
Bitget’s new signature product is based on a dual-coin approach, whereby users stake one coin of their assets as collateral in exchange for the ability to borrow a corresponding amount in another coin.
The interest rate for each loan is issued specifically, while the amount borrowed is determined by the market value of collateral.
With Crypto Loans, Bitget believes that soon traditional loan users will be onboarding in the digital lending sector.
Not surprisingly, crypto lending continues to grow in size along with digital lending, exceeding $8.5 billion in 2022 alone.
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