Spot and futures: why a spot bot cannot be liquidated

Spot

You buy the coin itself with your own money. It sits in your account. If the price falls the coin is worth less, but it is yours and the amount of it does not change.

Leveraged futures

You open a position larger than your deposit, on money borrowed from the exchange. At ×10 leverage a move of roughly 10% against you eats the whole collateral and the exchange closes the position by force. That is liquidation: the collateral does not come back, even if the price returns an hour later.

What it means for a bot

• On spot a bot can sit through a fall: no one can close its position by force.
• On leveraged futures a grid or averaging against a strong move ends in liquidation.
• On spot a bot works from the buy side only: in a falling market it buys and waits.

What you can lose on spot

As much as the coin fell. Halved and never came back — half of what you put into it. The project vanished — all of it. No liquidation does not mean no risk.

In Nexora

Nexora bots trade spot only, with no leverage and no borrowed funds. A key needs spot trading permission and nothing more — no futures, no margin.