Quickbot is a special trading system developed by our Company’s specialists, which allows you to quickly and and sell Bitbons in automatic mode at the best market price available at the time of order creation. Software algorithms of Quickbot allow monitoring trading activity on the Bit Trade website and managing the pool of limit orders with a possible change of quotes in the book towards a better market price.

In what case is a Quickbot order created?

You can use the Quickbot service if your order for the quick Bitbon purchase has not been executed or has been executed partially. Such situation may occur if there are no counteroffers for sale in the price range of +10% of the best bid price, or the amount of Bitbons offered by other Users for sale and available in the order book in this price range is not sufficient to fulfill your request to the full extent. In this case, you will be asked to place a Quickbot order to purchase Bitbons in the remaining amount. Please note that a Quickbot order can be created exclusively with your consent.

In what amount is a Quickbot order for the Bitbon purchase executed?

An order for the Bitbon purchase via the Quickbot service is created in the amount remaining after the quick purchase. However, the Bitbon purchase using a Quickbot order can be made in several parts depending on the available amount of Bitbons offered for sale in the order book.

At what price is a Quickbot order for the Bitbon purchase executed?

A Quickbot order for the Bitbon purchase is executed at the best market price available at a particular moment taking into account Quickbot orders for purchase created by other Users. The task of the trading system is to automatically change records towards a better market price in the order book. The Quickbot algorithm analyzes only executed transactions. Orders in the order book do not influence the Quickbot functioning. If the trading activity of Bitbon to the quote currency is higher than the price of the order, which has been placed through the Quickbot system, the Quickbot algorithm begins to gradually change orders towards the prices at which transactions are executed. While previous Quickbot orders are executed in the order book, all subsequent orders are executed as well forming the current price of Bitbon. Thus, the current market price of Bitbon corresponds to the price of the last executed order.

What will happen to my open Quickbot order if the Bitbon price changes?

If the Bitbon price changes, your purchase will still be executed at the best market price; however, while an open Quickbot order is executed, the amount of purchased Bitbons can change due to the change in the market price of Bitbon. You can find up-to-date information about the current price of Bitbon purchase via the Quickbot service on the “Quickbot Orders” page.

What will happen to my Quickbot order if I make a partial Bitbon purchase?

If you make a partial purchase, the Bitbon amount purchased using a Quickbot order will be credited to your Assetbox. The amount of funds remaining from the total amount of the Quickbot order will be in this order until its execution.

Can I change the parameters of an open Quickbot order or cancel its execution?

Unfortunately, it is impossible to change the parameters of an open Quickbot order. However, you can stop its execution by clicking on the relevant button on the “Quickbot Orders” page. The unused funds in the quote currency of the order will be returned to your Main Balance, and Bitbons purchased through this order will remain in your Assetbox. Please note that you cannot restore a canceled order, but you can create the new one to purchase Bitbons.

How can I monitor the process of Bitbon purchase using a Quickbot order?

After you create a Quickbot order, a new “Quickbot Orders” page will become available in the “Buy Bitbon” section. This page will display in real-time mode detailed information about execution of your orders and record the history of all your purchase orders executed via the Quickbot trading system.