How Trading Works
A high-level guide to how USDT ↔ Bitcoin conversions are priced, executed, and settled within Bitnob’s infrastructure.
What Bitnob Trading Does
Bitnob gives you programmatic access to convert stablecoins and Bitcoin using a simple, reliable API. Behind the scenes, it handles:
Price discovery using a routing engine
Quote generation with optional locking
Liquidity sourcing from multiple exchanges and OTC desks
Atomic execution with no partial fills or slippage drift
Wallet settlement with clear status and traceability
As a developer, you only need to make two calls: one to get a quote, one to execute a trade. Everything else — including pricing, routing, timing, confirmation, and settlement — is abstracted away.
The Trade Lifecycle
Execution Components
| Layer | What It Does |
|---|---|
| Quote Engine | Fetches pricing from internal liquidity pools or external sources |
| Routing Logic | Chooses best fill path based on asset, direction, and amount |
| Execution Engine | Broadcasts and confirms the trade, ensuring it's atomic and final |
| Wallet System | Updates internal balances and credits the user’s destination wallet instantly |
Trade Scenarios
| Scenario | Flow |
|---|---|
| User wants to buy BTC with USDT | Quote from USDT → BTC → Execute → BTC is credited to their wallet |
| User wants to sell BTC for USDT | Quote from BTC → USDT → Execute → USDT is credited to their wallet |
| Platform wants to auto-convert | Skip UI, use real-time quote + execute in backend |
| Merchant wants to lock price | Fetch quote, hold for 30 seconds, show user fixed rate |
Key Properties
Atomicity: Trades either succeed fully or not at all. You won’t see partial fills.
Quote Expiry: Quotes are typically valid for 30 seconds. If expired, you’ll receive a quote_expired error.
Real-Time Settlement: Once the trade is successful, the resulting asset is immediately available in the destination wallet.
No Slippage Guessing: Using quoteId ensures your user receives exactly the output amount shown.
Developer Responsibilities
Store and pass quoteId if you want locked pricing
Always provide a unique reference for traceability
Never rely solely on synchronous responses — use trade.completed webhook for final confirmation
Display rates and expirations clearly in your product interface if exposing trades to users
