Bybit, a Dubai-based cryptocurrency exchange has created a special trading tool TradeGPT that uses artificial intelligence (AI) to provide trading advice and answers to technical questions from its market data.
According to a blog post published on September 4 by Bybit, TradeGPT is designed to make use of Bybit’s existing market data, trading analysis, and technical tools.
TradeGPT is described as an AI-driven educational tool. TradeGPT can provide users with valuable information about market trends and insights based on Bybit’s up-to-date data.
In June 2023, Bybit integrated with OpenAi’s Chatgpt to create its new platform named ToolsGPT. This platform was a combination of ChatGPT’s artificial intelligence and machine learning abilities with Bybit’s market information to perform tasks like analyzing technical trends, assessing funding, and making predictions using various models.
Bybit described that OpenAi’s Chatgpt model cannot access real-time market information due to its last update in September 2021. However, TradeGPT acts as a master and guide to the expanding world of Web3.
Vivien Fang, the head of financial products at Bybit said, “Our analysts and tech team created ToolsGPT to provide the financial education and mentorship that is sorely needed in our hyper-financialized world.”
TradeGPT is a part of Bybit’s efforts to become a central hub for cryptocurrency resources, known as “Crypto Ark.”
Vivien Fang added, “Essentially, we built the tool that we all wished we had when we began our careers in financial engineering and trading.”
Bybit recently introduced AI tools and this move follows their decision to offer lending services to users. With this service, users can earn interest on the cryptocurrencies they deposit into the exchange and Bybit is one of the various exchanges that provide this lending service.
Also Read: Bybit Secures License to Boost Crypto Services in Cyprus
