Auto-Buy lets you automate purchases of a digital asset on a schedule you choose. It places a market buy order for the amount you set at the frequency you set, at whatever the market price is at that time.

Regular buying does not protect against loss. The value of digital assets can fall as well as rise and you may get back less than you invested.  Auto-Buy is not a savings or investment product and does not earn interest or a return. WhiteBIT Australia does not provide financial advice. 

Standard trading fees apply to each purchase, and each purchase is executed at the market price at the time of execution, which may differ from the price shown when you set up the plan.

How Does Auto-Buy Work?

Once an Auto-Buy plan is set up, it runs automatically according to the parameters you set. The funds are deducted from your Main Balance or Trade Balance and automatically used to purchase according to the set schedule of your plan. Your newly purchased cryptocurrencies will be credited to your Main Balance or Trade Balance.
 

Dashboard Overview: The main Auto-Buy dashboard gives you a clear snapshot of your activity, including the total amount purchased and the current market value of what you have bought. You’ll also see a summary of your ongoing and historical plans.

Plan Management: Under the "My Plans" section, you can view both active and completed plans. Each active plan displays essential details like the cryptocurrency you’re purchasing, the frequency of purchases, the total purchased amount, and current market performance.

Performance Tracking: The dashboard shows the past price movement of assets available for Auto-Buy. Past price movement is not a guide to future movement.

Plan Adjustment: Active plans are highly flexible. You can pause, edit, or deactivate them at any time. If you decide to stop the plan, it will remain under the “Ongoing Plans” list until you either reactivate it or move it to the deactivated list.

Notifications: During the lifecycle of your Auto-Buy plan, you’ll receive timely updates and notifications. These include reminders of insufficient funds in your Trade Balance and confirmations of each successful transaction. This helps you keep track of your plan.

Advanced Plan Control: For those who have enabled advanced settings, you can monitor how your purchases are executed based on the set price limits and iterations. You’ll have control over how many times the plan will repeat and monitor the price limits you’ve set, ensuring the purchases occur within the defined range.

Clear Plan Status: Auto-Buy simplifies understanding the status of your plans. Active plans show ongoing purchases, while paused or deactivated plans are categorized separately, making it easy to manage multiple strategies.
 

You can change or stop your plan at any time from the dashboard.  

Flexible Purchase Options

Auto-Buy allows flexibility with two ways to define your purchases:

• Purchase Size: The value of each purchase, expressed in the quote asset (for example USDT).
• Amount of Receiving: The number of units in the selected cryptocurrency.
   

Please note: Minimum order sizes for each market apply to every purchase. Purchases in markets with low liquidity may execute at prices that differ significantly from the last traded price. If your Balance lacks the necessary funds to complete an Auto-Buy transaction, you will receive notifications. The plan will automatically be paused if the funds remain insufficient until the issue is resolved.

How Do I Open an Auto-Buy Plan?

Opening an Auto-Buy plan is straightforward and user-friendly. Follow these steps:
 

1. Log in to your WhiteBIT Australia account, click “Grow” in the top navbar and then click on “Auto-Buy”.

Please note that if you have not completed KYC, you will need to do so to access the Auto-Buy feature.
 

2. Choose a Cryptocurrency and Set Your Purchase Amount. Select the desired cryptocurrency from the supported assets and define the amount you wish to spend in the ‘Give’ section. You can select either a fixed value in USDT (Purchase Size) or a specific quantity of the cryptocurrency (Amount of Receiving).
3. Select a Recurring Cycle. Set up how frequently you want purchases to occur - hourly, daily, weekly, or monthly, this allows you to tailor the plan to your preferred strategy.

4. Review and Confirm. Double-check your settings in the summary section. Once satisfied with your selections, click "Create" to finalize your Auto-Buy setup.

Advanced Settings (Optional)

The Auto-Buy plan offers additional advanced settings for users who desire to obtain more control over their purchase strategy. Available options include:

• Price Limit: you can set a minimum and maximum price range for your purchases. The Auto-Buy plan will only initiate purchases when the market price of the cryptocurrency falls within the specified range, so that purchases are only attempted while the market price is within that range. A purchase is still executed at the market price at the time of execution.
• Number of Purchases: this defines how many times the purchase action will be repeated according to your set schedule. For example, if you choose 100 iterations, Auto-Buy will make 100 purchases according to your selected amount and frequency.

Using these advanced settings allows you to tailor your Auto-Buy plan to your specific purchasing goals and to control the timing, frequency, and price range of your purchases.
 

Please note that after creating the plan, you can manage it under “My Plans” to pause, stop, or adjust your purchase schedule anytime. 

Managing and Stopping Auto-Buy

You can easily manage, stop, or deactivate your Auto-Buy plan anytime through the "My Plans" section. If deactivated, your plan will be moved to a separate list, making it easy to review or reactivate later.