8 Best Crypto Trading Bots: The Ultimate Guide for Traders

Hence, traders need to decide if the technical indicators used by the bots will bring trading profits before using them to automate the trades. The main concept of copy trading is to automatically copy the different trading strategies of more professional traders with just one click of the mouse. The crypto bot trading platform copies the trades, often involving a leaderboard, gamification elements, and an interactive social community. Coinrule gives access to template strategies that can trigger actions as the cryptocurrency market changes. Crypto trading bots manage volatility without any code required to maximize profits. Coinrule also introduces new bot templates regularly, from stop-loss settings and long-term holding strategies to accumulation.

• Trading can be stressful and highly emotional, leading to impulsive decisions.
• As mentioned above, trading bots need to interact with crypto exchanges in order to obtain essential data and follow a certain algorithm of actions.
• The cryptocurrency market is highly volatile and unpredictable, and even the most sophisticated bots can experience losses.
• With 3Commas, traders can seamlessly manage their trades across multiple exchanges without the need to install separate software.

An easy way to stay protected from scammers is by picking a reliable trading software provider like 3Commas. The crypto market can be affected by many things, forex including news, manipulation from the big players, etc. Hence, bots can’t really take these events into account or predict those in close proximity.

Is it Illegal to Use a Crypto Trading Bot?

The bot services offered by it can be customized according to the trading needs of every customer. Gekko takes care to keep its customers updated with all the latest market data. To make sure that you don’t miss out on anything, Gekko has deployed an extensive notification feature. It has a very meticulously designed web interface that enables smooth navigation for every user. For all of your trading needs, you can create your own trading instance and have it executed. All of these strategies prove really helpful in helping you generate the right results for your trades.

• There are several exchanges where you can connect via an API, and you can combine all of those investments on the dashboard.
• In layman terms, by purchasing Bitcoin as its price is falling, you stand the chance of buying the asset at a discounted price.
• These signals serve as helpful suggestions for improving trading outcomes and supporting users’ investment strategies.
• Arbitrage trading strategy makes profits from buying and selling on major cryptocurrency exchanges.
• As the Zignaly platform is still in its infancy, it might be worth taking the provider up on its 30-day free trial.
• Simplifies Complications – Every trading pair must be determined carefully based on the asset quantity and specific price range.

On the other hand, AI trading bots utilize more intricate algorithms like neural networks that can detect patterns and connections not obvious to human traders. Conventional trading bots rely on rules set by human traders, which may not cover all market subtleties. In contrast, an AI trading bot can learn from new information and modify its trading strategies accordingly. Emotion can be eliminated when traders switch to automated “programmatic” trading if the program has been tested for performance and a predictable outcome.

Tradesanta

If you would like to recommend any other bot, do let us know in the comment section below. All the bots are available in the free plan, and you can always upgrade to pro plan for advanced features. The seven days of free trial gives you ample time to enjoy all the premium features of Cryptohopper before you start paying.

• To start using bots on KuCoin, you only need to register a new KuCoin account, select a trading strategy, and start investing funds.
• This crypto trading bot service has recently taken the garb of a cloud-based trading tool.
• With a native UX/UI, TradeSanta provides quick access to algo-trading on such crypto giants as HitBTC, Binance, Bitfinex, Huobi, and many others.
• There is no one answer to it, as It all depends on the strategy that you have deployed.

Forget about scouring the web for market insights and having to devour tons of ads and fluff for each piece of constructive market exchange information. Coinrule is a recent addition to the industry, and they have excellent features. A plethora of people with various levels of coding and/or trading experience use it on a daily basis! Maximizing returns via automation of trading is a unifying policy, no doubt. Thus, the bots are free, and Pionex aggregates liquidity from Binance and Huobi as well.

What are the risks associated with AI crypto trading bots?

Crypto trading bots use exchanges’ APIs in order to merge and obtain all the necessary information and place an order on your behalf. Crypto bots usually analyze market data like volume, price, orders, time, and other vital factors that one should consider when trading. However, you want your trading bot to pay – closer attention to other things so that you can easily set up your own preferences. Then there are technical trading bots that predict price movements and execute trades based on signals and indicators. These are the most commonly used bots as crypto traders race to beat the market with a winning strategy.

• The bots for trading make good profits, and the trick is to make more profitable trades than loss-making.
• Gekko takes care to keep its customers updated with all the latest market data.
• This means users can earn profits even when not managing their accounts actively.
• This enables traders to juxtapose rates from different digital currency markets, switch between exchanges, track investments, and experiment with strategies via a demo account.

During the night, Bitcoin breaks through a key resistance level with ease, subsequently indicating that a bull market is imminent. Unfortunately, as this key development occurred while you were asleep, those based in other timezones were accustomed to the major price movement, while your timezone meant that you missed it. So now that you have a basic understanding of what a Bitcoin trading bot actually is, in the next section we are going to outline some of the main benefits that a bot can offer. Although 3Commas and Cryptohopper are often regarded as market leaders in the Bitcoin trading bot space, a number of other providers are also worth considering. Moreover, the Cryptohopper interface will let you know if a certain trigger has been inserted in error, which is neat. Most importantly, Cryptohopper has a fully functioning pre-live testing arena.

CryptoHopper

For now, it can only be accessed through the website, as there is no app version of the software. There is a free version of the Autoview trading bot that is compatible with Kraken, Bitmex Testnet, 1Broker, Bitfinex, GDAX, Sandbox, Binance, Bitget, FTX, and many more. To make the most of its advantages, you need to possess enough coding knowledge to manually place a stop-loss into Autoview’s script. It automatically calculates the profits and balance once your coins are launched on an exchange.

• This strategy is based on the concept that when the price breaks out of a defined range (either above resistance or below support), it will often continue in that direction for a while.
• Knowing how the technology works is important before investing too much in it.
• When compared to its competition, Napbots’ simplicity and special approach makes all the difference.

The best feature you can experience here is flexible trading automation. Simply put, you can automate trades and create many portfolios to invest in through various strategies. The platform’s tagline is simplicity — implying it can fit absolute beginners that lack crypto trading experience.

Spot grid

One of the biggest pain-points for seasoned traders is that cryptocurrency trading platforms are often limited in what they offer. By this, we mean that the number of order types available will often be capped at basic market and limit orders. For those of you that are looking to install sophisticated strategies into your Bitcoin trading endeavours, an automated bot is ideal. Launched in 2017, 3Commas is an online cryptocurrency trading bot provider that is tailored for all experience levels.

• Some bots are compatible with multiple exchanges, providing greater trading flexibility.
• There is also an extensive bot marketplace, which lets you examine various trading bots and check their all-time returns and other characteristics.
• This means that regardless of what timezone you are operating on, your Bitcoin trading bot can make risk-free gains when exchange price disparities occur.
• It involves speedy and smart trading to exploit price differences prevailing in the crypto market.

Naturally, you gain access to different features, based on activity levels and differing experiences. It works as a GRID bot, distributing proportionally within the limits set by the trader. It does not allow you to use real money as its purpose is to assist you to experience the platform, test its functionality, and learn about live trades. It is updated every 2-4 seconds and enables users to keep track of the market cap and the current trading price of any currency. The MACD helps in signaling the right time for purchasing and selling the assets.

Which Trading Bot Is The Best?

Trading Bots allow Crypto.com Exchange users to profit or build their positions by automatically placing orders based on pre-set parameters. By setting up a Trading Bot, users do not have to constantly monitor market activity. The Crypto.com Exchange now offers the Dollar-Cost Averaging (DCA) and Grid Trading Bots. It is crucial to thoroughly – research and demo-trade with different trading bot platforms before committing to one. Take advantage of free trials or demo accounts offered by the platforms to familiarize yourself with the interface and the bot’s functionalities. This allows you to see if the platform meets your requirements and if the bot performs as expected.

• It is also important to note that you are not limited to a single trading strategy at any given time.
• If you really want to get the most out of your trading software it’s a good idea to check out the trading community that is using it.
• ProfitTrailer becomes better here by having a personal VPS for its services.
• Before we explore some of the main strategies that a bot can implement, it is important to note that the specific strategies available to you will depend on your chosen provider.

Advanced traders will get value out of their SmartTrading tool which allows trading from multiple exchanges and pairs from within their streamlined interface. As you consider which trading tools to invest in, take a look at the educational content that is available on the site. In order to reach the growing market of new crypto traders, many of the platforms on this list have developed training modules, blogs, and videos to educate their users.

How to Make a Living Day Trading Ethereum: Strategies and Secrets Revealed

The bottom line with these guys is that they offer their clients a lot of features, so you will never be lacking when it comes to this aspect of trading online. These tools are great for traders that are really active in the industry. They can also help you keep an eye on all of your differing positions, so that you can rebalance them automatically. We all sometimes feel like the only way we’re ever gonna earn money with cryptocurrency trade is if a hero comes to our help. The most used is the Hedged trading bot due to its proactive trading with minimized costs. Instead of merely buying and holding cryptocurrency, Shrimpy realigns your portfolio to eek out the maximum from your available assets and rebalances it to specific ratios.

• Copy trading Involves you being able to automatically copy the trade of other traders.
• When it comes to selecting the best overall crypto trading bot in 2023, 3Commas stands out as a top contender.
• Bitsgap has a customer rating of 3.6 stars out of 5 on Trustpilot, with some customers noting that there are drawbacks in terms of customer support as well as the default ranges.
• When you take big risks, you also have the possibility that you will face a huge loss.
• It connects directly with platforms, without needing to go around APIs or anything.

These include advanced pre-set rules that help their customers build a system, meeting their needs perfectly. Connect with 14 major exchanges including Binance, FTX, BitMex, and Kraken to automate your trades of Bitcoin (BTC), Ethereum (ETH), and 1,000’s of other coins. If you need clarification on whether Cryptohopper is the ideal crypto trading software for your needs, you can try the 7-day free Explorer package trial to understand better how it works. Then, if you like what you see, you can get a subscription ranging from $19 and $99. As artificial intelligence and machine learning technologies advance, future trading bots could become even more intuitive, sophisticated, and capable of complex analysis and decision-making. Regulatory landscapes may also change, requiring ongoing monitoring to ensure compliance.

Risk management

Mean reversion is a certain kind of bot which applies a strategy that is built on the assumption that if the value of the coin is different from its average, you can take it back to the average. They also use dollar cost averaging, that allows you to improve your position entry price. They are not necessarily a high frequency trading block, but they do have basic strategies meaning that they are a great place to start. They also have lots of support tools on the Internet, so that you can get your account set up really quickly. They are simple to use and offer their clients a lot of high-end features.

• You also get notifications on all the updates on the trade exchanges via text and email.
• It is from volatility that many professional traders make much of their money and volatile assets and markets are a big attraction factor to traders.
• The Grid Trading Bot will continue to place and fill buy and sell orders depending on the pre-set intervals.
• On the contrary, you can instruct your Bitcoin trading bot to scrape small profits within the pre-programmed consolidation parameter on a 24-hour basis.
• Actual trading strategies can be much more complex, taking many other factors and signals into account.
• You can use bots to automate not only your crypto trading but also manage your stock portfolio as well.

Enter the crypto trading bot – a powerful tool designed to analyze market trends, execute trades, and maximize profits. To sum up, the various advantages of trade bots have made them extremely popular in the crypto market. This has led to the development of thousands of automated bots, making choosing the best option challenging. The crypto trading bot must consider beneficial features since they require almost zero technical skills. This guide for best crypto bot trading will help users to trade cryptocurrencies like a pro using automated crypto trading bots. Coinigy is a leading cloud-based crypto terminal that allows users to integrate with other exchanges and trade crypto across different automated crypto trading bot platforms.