Multi-Limit: A New Mode on WhiteBIT
Casting a wide net is the way to go! Traders who rely on limit orders understand the ups and downs it can bring. Without a seamless and versatile tool, it's a challenge to leverage your skills effectively. So, we bring exciting news from WhiteBIT!
Europe's leading crypto exchange, WhiteBIT, has introduced an innovative order placement mode called Multi-Limit. This feature allows users to create 2 to 15 limit orders at once and easily set parameters like price range, the number of orders in your grid, and even apply mathematical progressions (arithmetic or geometric) for pricing orders within your selected range.
This tool saves time, minimizes the chances of operator errors, allows for swift responses to market shifts, and optimizes potential profits from trading strategies (assuming they are profitable; if not, explore our 7 Crypto Trading Tips for Beginners). To understand how Multi-Limit workss and how to configure it via API, visit WhiteBIT's blog for detailed guidance.
Features and advantages of the Multi-Limit mode include:
- It is available solely on the spot market.
- It enables users to set upper and lower price limits for grid orders, and the total investment amount.
- Each grid can comprise from 2 to 15 orders.
- It automatically calculates the price for each grid order based on your chosen mode (arithmetic or geometric). In the arithmetic mode, order prices will be evenly distributed, whereas in the geometric mode, they will follow a geometric progression. This makes it easier to adjust a group of orders downwards (when buying) or upwards (when selling).
- You can cancel any specific order in the grid without affecting the other orders.
Trading on WhiteBIT has never been more simple and efficient. No more need to constantly watch your screen for the best prices on your favorite assets, as transactions can be opened and closed automatically.
Itβs also worth noting that spot trading is inherently more secure than margin trading since it doesnβt utilize leverage, thereby preventing the possibility of your positions being liquidated. Thus, these new features are sure to be advantageous for all users, irrespective of their level of experience.
WhiteBIT stands as one of Europe's leading crypto exchanges. As of September 2023, it boasts a user base of over 4 million. The exchange processes an average daily trading volume exceeding $2.5 billion and supports more than 350 trading pairs, 270 assets, and 10 national currencies.
Furthermore, WhiteBIT has established significant partnerships. The company proudly serves as the official partner of the Ukrainian national football team and prestigious football clubs like Barcelona and Trabzonspor. It also collaborates with entities like Lifecell, FACEIT, and the National University of Kyiv-Mohyla Academy. In collaboration with the Ministry of Foreign Affairs of Ukraine, WhiteBIT introduced a chatbot designed to assist Ukrainians overseas. Some of the platform's latest milestones include the rollout of its proprietary blockchain, the WB Network, and the WhiteBIT Launchpad β a platform designed to foster the development of new crypto initiatives.
