WhiteBIT Launches Automated Trading Bots for UK Market
WhiteBIT has launched two automated trading bots in the UK market, expanding its offering to British users. The Spot Grid Bot and Martingale DCA Bot operate in the spot market, without leverage, making them accessible to retail traders who are barred from buying crypto futures, options, and contracts for difference due to a regulatory ban.
The Spot Grid Bot places multiple buy and sell orders within a chosen price range. It buys as the market moves towards the lower sections of the range and sells when prices move higher. WhiteBIT designed this strategy primarily for sideways markets where an asset repeatedly moves between established support and resistance levels.
The Martingale DCA Bot, on the other hand, follows a directional strategy. It opens an initial position and places additional buy orders if the asset declines, lowering its average entry price. The bot then attempts to close the full position when the market recovers to a predefined profit level.