Crypto exchange WhiteBIT launches smart trading bots. We tell you how they differ from competitors in practice

The logic of these bots is not something unprecedented. The first (Grid or «grid») automates the process of buying and selling an asset within a given price range, using market volatility. The second (DCA) helps to enter the market, gradually buying up the asset in portions if its price falls. However, the developers of WhiteBIT focused on making these classic tools more convenient in practice.

New bots use artificial intelligence to suggest the safest parameters to start with. Most importantly, they allow you to change settings on the fly (without having to stop trading) and offer various options for automatically reinvesting your results for future trading.

A dev.ua journalist analyzed the WhiteBIT innovations in detail and emphasized the benefits of these solutions compared to competitors. Let’s go!

Spot Grid Bot: what is its technical highlight?

This bot relies on artificial intelligence, not on learned patterns. The algorithm analyzes how the coin price behaved in the past, and itself suggests the most profitable and safest limits for trading. Even before launching, you can virtually «run» these settings on the market history to understand in advance what real profit you should expect. But its most important advantage is full control in real time. If the situation on the exchange changes dramatically, you do not need to turn off the bot and create a new one. You can expand the trading range, change the step between orders, add money to the balance or adjust the risk level right «on the fly».

Martingale (DCA) Bot: profitable accumulation in a growing market

This tool is ideal for situations where you expect a global price increase. Ordinary bots of this type simply monotonously buy coins in equal portions with each price drop. WhiteBIT’s approach is much more cunning: during market drawdowns, the bot buys the asset for a larger amount each time. Thanks to this, your average entry price is significantly reduced, and to get a good profit, a very small price rebound is required. All transactions are completed in logical cycles. Moreover, if the market has collapsed too quickly and the bot has frozen in anticipation, you can intervene at any moment and buy assets manually. This helps to survive the market drop much easier and use your capital as efficiently as possible.

In general, instead of inventing new and untested schemes, WhiteBIT took classic strategies that traders have long been familiar with and made them much more convenient, transparent, and manageable at any time.

What is the main difference from competitors?

Now let’s look at the new bots in comparison. Most existing trading bots have a significant drawback — the inability to adapt after launch. Traders have to completely stop the cycle to change settings. WhiteBIT solves this problem with three key innovations.

FIRST FEATURE

To begin with, mid-cycle bot editing is now available to the user: users can change basic parameters without having to close the strategy.

Let’s take this into account. Let’s say you launched a grid bot on ETH in the range of $3,000 to $3,500.

Situation: Positive news appears in the news feed, and the price of ETH rises sharply to $3480. There is a clear trend to break through the $3500 level. This is tangible.

How it works for competitors: The bot will sell all your ETH as it approaches $3500 and stop (or just wait for a drop). To trade further, you need to completely close this bot, record the result and create a new one with a range, for example, $3400 — $4000. You are wasting time and paying extra fees.

How it works on WhiteBIT: You move the upper limit of the grid to $4000 on the fly, without stopping the bot, and, if necessary, add some USDT to the bot’s balance. It seamlessly continues to trade in the new range.

SECOND FEATURE

Flexible reinvestment has appeared: the profit received can be withdrawn, reinvested for compound interest, or converted into asset accumulation (HOLD logic).

Situation: You want this profit to not just lie there as dead weight, but to work for you depending on your overall strategy.

How it works for competitors: Profits usually just accumulate in the base currency (USDT) on your balance and wait for you to stop the bot to collect them.

How it works on WhiteBIT: You can set up the script in advance:

Compound interest: the bot automatically adds already earned profit to its working capital, and subsequent trades become larger (you earn more).

This is where the HOLD logic comes into play: you believe in the long-term growth of Ethereum. The bot automatically buys ETH with all earned USDT and deposits them into your main balance for long-term storage.

THIRD FEATURE

The option of manual averaging in DCA has become available: the ability to independently intervene in the bot’s work and purchase additional assets if the market sinks deeper than expected.

Situation: There is a sudden market crash. The price of ETH drops by 15% in a few minutes to $2975. The bot has executed its purchases at -6%, but it has no further insurance orders.

How it works for competitors: The bot is «stuck.» It will wait until the price returns above $3,300 to close in the black. If you want to buy ETH at the «tasty» price of $2,975, you will have to do it separately on the spot market, which will break your bot’s math.

Like on WhiteBIT: You see that the price has dropped to -15%, you understand that this is a local bottom, and you press the manual averaging button right in the bot interface. You buy ETH for $2975. The bot automatically calculates your average entry price. Now, for the bot to close the entire cycle with a profit, the ETH price only needs to bounce back, for example, to $3100, instead of waiting for it to return to $3300.

Instead of a conclusion: automation that doesn’t tie your hands

WhiteBIT didn’t reinvent the wheel, but fixed what annoyed traders the most about classic trading bots — their inflexibility.

Now you are not a hostage to the initial settings. The ability to edit parameters «on the fly», automatically reinvest profits or manually buy assets during a sharp drop gives real control over the situation in the dynamic crypto market. This is a practical tool that takes the routine away, but leaves the steering wheel in your hands. Definitely worth testing.