The history of our trading bot dates back to the summer–fall of 2022. By that time, the technical documentation for the first strategies had already been developed, and we had a clear understanding of how the bot should operate in an automated mode. To test the strategies manually, we chose two exchanges—FTX and Binance. However, after the collapse of FTX in November 2022, all further work was fully focused on the Binance platform.
Market entry and technical evolution
The first release of our bot took place in late December 2022. At that time, the bot operated through a connection with the REST API. Until the summer of 2023, we actively tested its functionality and stability. That summer, we transitioned to WebSockets, which significantly improved the bot’s speed and reliability, removed limitations related to “request weights” in the REST API, and reduced order execution delays. It was in the summer of 2023 that we achieved a stable version of the bot, which we were able to offer to clients.
Each bot in our system operates in real-time, analyzing market conditions every second. It monitors the execution of current orders and, in the event of a take-profit activation or the next trading iteration, automatically adjusts the strategy by creating new orders. Additionally, the bot tracks the BNB balance in the client’s account for commission payments. If funds are insufficient, the system automatically purchases the required amount of BNB, ensuring uninterrupted trading and optimizing commission costs.
Binance as the primary platform for the bot
By working on the Binance platform, we identified and resolved all critical issues in our trading strategies, regardless of the exchange. It is important to note that, compared to other platforms supported by our bot, Binance had the lowest number of failures. The connection to the exchange remained stable, and maintenance did not cause disruptions. Even during peak load periods, Binance maintained its functionality, which was a crucial factor for effective automated trading.
As of 2024, Binance held a 17% market share, making it a key player in the crypto trading industry. One of the advantages of this exchange is the large number of promotional trading pairs, allowing users to reduce commission costs. Our bot trades in pairs with stablecoins, enabling clients to save on fees thanks to Binance’s special offers. At different times, the exchange provided reduced fees for BUSD, TUSD, and FDUSD. Sometimes, trading these stablecoins in pairs with BTC, ETH, or SOL was entirely fee-free, while at other times, only the maker fee was removed. Trading promotional stablecoins allowed clients to save up to 80% on commissions, significantly increasing overall profitability.
Moreover, even for standard trading pairs, Binance offers a competitive commission rate—0.075% per transaction by default. This ensures that our bot provides clients with efficient and cost-effective trading, minimizing expenses and enhancing strategy profitability.
Partnership and expanding opportunities
Approximately 75% of our clients use Binance to operate the bot, which prompted us to expand our collaboration with the platform. In September 2024, we became official partners of Binance under the Link’n’Trade program. To achieve this, Burvix Traders underwent additional checks, including a penetration test and a verification of our technical infrastructure for compliance with Binance’s security requirements. As a result, we gained access to the exclusive Fast API functionality, available only to strategic partners of the Binance ecosystem.
This allows our clients to automatically generate API keys for connecting to Burvix Traders. Now, when setting up the bot, users only need to select the “auto API” function and enter their Binance login and password in the integration window. The keys are then created automatically, significantly simplifying the connection process.
Cryptocurrency market regulation and its impact on trading
We also draw attention to the cryptocurrency regulation law in Europe (MiCA), which came into effect at the end of 2024. In accordance with its requirements, leading global exchanges have begun gradually delisting stablecoins such as USDT and FDUSD, which do not comply with the new standards. Binance is also closely monitoring regulatory compliance, so restrictions on using these stablecoins for EU residents may be introduced soon. In such a case, European users will only be able to trade with USDC and other stablecoins that meet regulatory requirements. We are closely monitoring the situation and will promptly inform our clients of any changes in trading pairs.