Development of a trading bot for trading on the Whitebit crypto exchange

The cryptocurrency market is characterized by high volatility, as crypto prices can change quickly and unpredictably. Under such conditions, trading digital assets manually is quite difficult – you can simply not have time to close a profitable order and lose profits.

Therefore, professional traders use automation tools in their work – special trading bots that track quotes 24/7, allow you to avoid risks and make deals much faster and more efficiently. In this article, we will talk about what crypto bots are and how to develop a bot for trading on the popular WhiteBit exchange.

A cryptocurrency bot is a special program that monitors the situation on the market, and can also open and close orders on its own based on the algorithms embedded in it. Moreover, the algorithms can be both pre-installed and adjusted by the trader himself. This means that when using a bot, you can test and implement a variety of strategies to increase profits.

The use of such bots gives traders many advantages. Here are the main ones:

Instant reaction. The bot responds to signals much faster than a human and is able to automatically generate hundreds of orders per second. This allows the trader to consistently earn even with slight fluctuations in the exchange rate.

• Improving efficiency. The bot is capable of performing dozens of tasks at the same time – scanning the market, conducting transactions, analyzing the rates of several cryptocurrencies, and so on. Thus, he does not miss a single earning opportunity.
• Continuous work. The program is not the person. She is able to work around the clock, without breaks and weekends. This means that the trader will definitely not miss a profitable deal.
• Lack of emotion. According to statistics, most of the mistakes traders make are the result of emotional stress. The trading bot is not affected by this factor, and is guided in its work solely by algorithms and cold calculation.

When developing bots for the Whitebit cryptocurrency exchange, our team uses the CCXT library. It can connect to over 120 exchanges worldwide and provides fast access to market data for storage, analysis, visualization, strategy testing and indicator development.

The CCXT library provides two types of APIs, private and public, and integrates easily with popular programming languages: Python, PHP, and the Node.js platform. Actually, using these technologies, the backend part of the cryptobot is built.

As for the client side, static technologies such as JavaScript/HTML/CSS or reactive frameworks such as Vue.js and React.js can be used for its implementation.

Cryptocurrency bot can also be developed to work on mobile devices. In this case, native technologies are added to the stack – Kotlin for Android and Swift for IOS, or cross-platform – Flutter / Dart.

The development of a crypto-bot for trading on the Whitebit exchange is carried out according to the Scrum methodology and consists of six main stages. Let’s consider them in more detail.

Stage 1. Gathering information

Before proceeding with the technical implementation, the development team needs to understand exactly how traders will use the bot, what tasks it should solve and, accordingly, what functionality will be required for this.

Stage 2. Design

During the design process, a product concept is formed and a carefully thought-out prototype is created. As a rule, it includes:

• Interface warframes.
• Block diagrams of functions.
• Functional description table.
• Project mathematics.

Thus, the customer at this stage can already understand how exactly the trading bot will work after the development is completed. To present the mockup and facilitate communication, our team additionally records short demo videos.

Stage 3. Design development

The GUI of a trading bot is the visual environment in which a trader will work most of their time. Therefore, it should be quite comfortable, flexible and attractive. To achieve the best result, at this stage, professional designers are involved in the project, who develop and offer the client several options for UI concepts.

Stage 4. Programming

The technical implementation of a crypto-bot consists of two main parts:

• Frontend. This is the external part of the product that users interact with on the client side. The frontend includes: layout, development of animations, transitions, interactive charts and other components that make working with the bot comfortable and efficient.
• Backend. The task of the server part is to ensure reliable data storage and the implementation of trading strategies through innovative functionality. At this stage, developers set up servers and databases, build a client-server architecture, write functional code, and implement the network capabilities of the bot.

Stage 5. Testing

After the development is completed, you need to make sure that the trading bot works correctly and does not contain bugs. To do this, QA engineers perform comprehensive testing of the product and, if necessary, control the correction of errors.

Stage 6. Technical support and development

The release of the bot to release is only the first step, and then the developers will have to work hard to develop and improve it. With this approach, its functionality will never lose relevance and will always meet the ever-changing requirements of the crypto market. Therefore, after the development is completed, we offer to connect the product to technical support.

Cryptocurrency bot helps to automate trading and completely eliminates the human factor from the trading process. As a result, you can spend less time analyzing the market and creating orders, and your income will increase significantly. However, in order for such a tool to really bring profit, not losses, we recommend trusting the development only to professional teams that have the appropriate cases.

AVADA MEDIA has extensive experience in developing innovative solutions for the cryptocurrency market – from trading bots to exchangers and large crypto exchanges. To implement such projects, we have all the necessary infrastructure and already formed teams of specialists who can implement a project of any complexity.