FAQ

I have never news traded before, how do I get started with WhisperBot?
Whisper abstracts away all the unwieldy tools and tech needed to news trade profitably by providing everything in one place. Typing the /menu command in the chat opens a checklist of items to tick through to begin trading:
  1. 1.
    Generate or import an Ethereum wallet
  2. 2.
    Customize trading parameters
  3. 3.
    Subscribe to a news source to receive alerts.
  4. 4.
    Send ETH to your wallet on Optimism
  5. 5.
    Send sUSD to your wallet or swap ETH for sUSD on Optimism
  6. 6.
    Create a Kwenta trading account
And that's it!
Which decentralized perpetual exchange does Whisper use?
  • Whisper utilises Kwenta on the Optimism network to generate and execute trades in a low gas environment.
  • Kwenta ensures deep liquidity trades with up to 50x leverage and reasonable fees for execution whilst also providing 70+ trading pairs to choose from.
Why use a decentralized perpetual exchange over a centralized exchange?
  • Decentralized Perpetual Exchanges ensure maximum transparency and openness whilst also allowing for minimal censorship resistance. This is especially true for US residents who currently do not have access to many futures exchanges.
  • By linking Whisper to Kwenta on the back-end, and further integrating with the fastest news-sources in crypto, we allow users to profitably access the deepest liquidity perp DEX with the convenience of just a few clicks.
How does Whisper recommend using the Telegram bot?
  • Treat Whisper generated trading wallets as hot wallets
  • You should only store assets you use for active trading
  • Minimise exposure by only adding what you need as margin
  • Do recycle into new wallets regularly
Ultimately, the advantage of Whisper over CEXes is that users have the ability to export the private keys of trading wallets. A user has full access and control over assets at all times.
How are private keys stored? And what is the approach to security?
  • All private keys are symmetrically encrypted, and our servers' security is robust
  • Please do make sure your Telegram is secure by enabling two-factor authentication
  • If you generate a wallet through the bot, do NOT share the private key with anyone else, and do not record it online
What are the fees involved?
  • Given Whisper orients itself as a news trading tool first and foremost, the fees likely of concern are taker fees. As of Oct-23 10bps are levied on the notional size of the order for all pairs other than BTC and ETH, which are 6bps.
  • A small execution fee of $1-2 is also levied to pay for Kwenta keepers to ultimately execute the trade.
  • WhisperBot itself does currently not charge any additional fees.
What is the minimum deposit required to start trading?
  • The minimum deposit and position size value for Smart Margin accounts on Kwenta is 50 sUSD.
How do I troubleshoot any issues with the bot?
  • Do feel free to contact any relevant admin in the community TG and they will be more than happy to assist with any queries.
What happens during extreme market volatility?
  • Do make sure to manage all open positions with appropriate risk. That means ensuring there is enough of a buffer between current prices and liquidation prices set out for each position open.