Cryptocurrency trading bots are computer programs that place and manage trades under established rules. Chart analysis and the identification of trustworthy trade signals are the key outputs of crypto trading bots. While doing so, they may assess market risks, allowing traders to make well-informed decisions about buying and selling cryptocurrencies.
Cryptocurrency investors can also automate the purchase and sale of positions based on important technical indicators using trading bots. Competition among the best crypto trading bots for the best win rate, or proportion of profitable trades, is quite fierce.
Top 10 Crypto Trading Bots
|Crypto Bot||Coins||Integrated Exchanges||Price||Website|
|1800+||Binance, FTX, OKX, and 15 more||$19 / $44 / $119 per month||visit|
|85||Binance, Huobi||Fees for transactions||visit|
|75||Binance, OKX, and 13 more||$19 / $49 / $99 per month||visit|
|500+||Binance, OKX, and 4 more||$15 / $27 / $35 per month||visit|
|400+||Binance, OKX, and 11 more||$0 / $39 / $99 per month||visit|
|300+||Binance, Coinbase, and 2 more||€10 / €40 / €60||visit|
|300+||Bitstamp, OKX, and 8 more||$40 / $80 / $500 per month||visit|
|1000+||Binance, FTX, OKX, and 15 more||$29 / $49 / $99 per month||visit|
|1000+||Bitstamp, FTX, and 19 more||0.009 – 0.026 BTC annually||visit|
What is a crypto bot?
Crypto bots simplify the process of investing in cryptocurrencies by automating the trading process. Automated trading platforms execute transactions based on pre-determined criteria. You can modify the algorithm for your crypto trading bot to suit your long-term or short-term investment goals.
Trading cryptocurrencies with the aid of a bot is always thought to be more effective than manual trading. It’s safe to say that you won’t have to worry about delays or human errors. With bots, you get to trade assets with a higher possibility of profit if your bot has access to accurate data and appropriate algorithms.
- Eliminates emotional interference: As they carry out trades following a predetermined trading strategy, they help to lessen the emotional impact of trading.
- Trading with efficiency: They do analyses of many currencies simultaneously and execute deals with a high level of efficiency.
- High throughput: Cryptocurrency trading bots work around the clock, seven days a week, making decisions for you that could result in profits even when you’re asleep.
- Trading bots use API keys for transactions, which may expose them to potential threats to privacy and hacking.
- Require monitoring: Periodically checking in is still necessary, even if you’re using a cryptocurrency trading bot to automate many of the tedious activities you’d otherwise have to perform manually.
- It needs technical skills. To build effective rules and keep the bot working smoothly, you’ll need a basic understanding of crypto trading.
- There are problems with the program code: instability. Occasionally, bots will stutter, lag, or even crash.
- Inflexible: Algorithms are rigid in the crypto bot world. It’s devoid of rational thinking. It is unable to alter its activities. Risks of significant losses may arise if the market fundamentals suddenly shift.
Crypto bots: why do they mean so much to traders?
Bots are more efficient and less likely to make mistakes than humans since they are free from human emotion. This is particularly advantageous in light of the crypto market’s propensity for wild price swings. But for a trader, volatility is a terrific thing. Every trader’s ideal is to buy at lower prices when the market is in a state of panic and to offload risk when the market is euphoric.
Trading in crypto occurs 24 hours a day, seven days a week, unlike traditional markets, making it difficult for crypto traders to react quickly to price changes. Using a crypto trading bot in this situation can be really beneficial. Automated trading robots can be used by traders to implement pre-defined rules in the most effective way.
How do crypto bots make money?
The majority of cryptocurrency trading bots operate by establishing a direct connection to exchange. Following a successful exchange connection, the bot begins monitoring the market for certain events or price movements. As soon as it detects action, it will either send you an alert or perform the necessary trading action according to the rules you’ve established.
How to get started with crypto bots?
- Create your API key: A key called an API key connects your bot to the exchange. In most cases, the crypto bot will walk you through the process of creating the private key. While you’re at it, don’t allow the bot to withdraw your funds from the exchange.
- Select your assets: In this section, you instruct your bot on what assets to buy or sell. Your selected exchange’s assets will be shown in this list. Remember to diversify your investments.
- Choose your parameters and adjust the settings: Your bot will use this information to determine how much of your portfolio it can trade with and how much it can buy or sell. Also, you can set a time limit for an order.
- Define your trading strategy: Here, you decide on the methods you’ll use in your business. MA crossover, scalping, swing trading, etc., are all examples of possible trading strategies.
- Backtesting the strategy: This is a critical stage in determining the effectiveness of your bot. Starting with one year of data is a good place to begin backtesting. You will receive the results following the completion of the backtest. The bot may not be functioning in a way that is profitable for you; therefore, you may want to change your strategy.
- Start employing the bot if everything is in order.
How to pick the best crypto trading bot?
Ease of use
If you’re new to crypto trading, it’s crucial to choose a robot that can help you get up and running quickly. An intuitive user interface is essential, and advanced users should be able to tailor it to their own tastes. You cannot profit from the best cryptocurrency trading bot if you don’t know how to use it.
You need the right trading tools that are responsive to your trading style. Additionally, trading tools are essential when analyzing your trades and trading strategy. The best-automated trading bots must have all the essential tools that you need to execute your strategy.
Having a mobile platform for a trading bot is a bonus because of the convenience it provides. You may use a small and portable device to keep tabs on performance from virtually anywhere with this choice.
There are many factors to consider while selecting a trustworthy crypto trading bot, and the developer’s reputation is right at the top. To determine if a cryptocurrency is reliable, useful, and trustworthy, look at its reputation in the market and among the crypto trading community. Investors can also consider the developer’s engagement and how long they’ve been in business.
The reputation of a good crypto bot should precede it. The best place to get an objective and unbiased perspective of the performance of a crypto trading bot is through trusted review sites. If many users are complaining about a bot, then that’s a red flag, and you should avoid it.
For newbie traders, it’s a good idea to play around with the free crypto trading bots to get a feel for how they work. Using this method, you may test whether or not bots are a good fit for your business before spending any money on purchases or subscriptions. Also, check to see if and how much the developer plans to charge for future software upgrades.
Best crypto trading bots to grow your income
In addition to letting you trade and manage your portfolio, Bitsgap also gives you access to trading bots and signals, making it a highly effective crypto trading platform. Using this trading bot, you may trade on over 25 different cryptocurrency exchanges. You can use Google or Facebook accounts to join up, or login is free for the first 14 days, and you can cancel at any time. It is capable of analyzing more than 10,000 crypto-to-crypto pairs. Also, you may design your bot plan in a few simple steps, thanks to the simple interface.
- Tracking portfolio: Traders will be able to keep track of their funds and earnings with the use of a live-generated portfolio.
- Arbitrage: Traders might make the most of price differences between exchanges.
- Futures trading: A few trading tools allow you to create your own futures trading bots, one of which is Bitsgap.
- With a single trading terminal, you may execute spot and futures trades on a variety of exchanges around the world.
- Only accessible via the internet: There is no support for mobile devices.
- It has faster cryptocurrency research with a selection of 100+ technical indicators and 12 different chart types.
In order to use the premium features, you must pay $110 per month for the pro plan or $44 for the advanced plan or $19 per month for the basic paid plan.
Pionex is a crypto trading platform that includes built-in trading bots. ‘ There are 16 free crypto trading bots available on this platform that traders may employ freely to automate their trading. Pionex boasts of having Money Services Business (MBS) accreditations. The bots have access to liquidity engines from both Binance and Huobi Global, which ensures that they can match orders and operate around the clock.
- There are 16 trading bots that are free and cloud-based, so you don’t have to keep your computer running all the time.
- Attractive fees: For all major cryptocurrencies available on Binance and Huobi, Pionex charges a very competitive trading cost of just 0.05%.
- Very Good Liquidity: An innovative liquidity engine consolidates the liquidity from both Binance and Huobi.
- Supports grid trading
The exchange charges a fee of 0.05% for each transaction.
CryptoHopper is a crypto bot created by two brothers, one a web designer and the other a day trader. Once you’ve linked your exchange account to your CryptoHopper bot, it will trade in accordance with the parameters you’ve defined.
CryptoHopper integrates with nine exchanges and supports up to 75 coins. When registering with CryptoHopper, you will be asked to input your API key, which you need to interface with exchanges.
For semi-automated trading, it copies the trading strategies of the best crypto traders and avails them to its customers. It’s called ‘copy trading,’ and it’s a popular strategy in FX and stock markets. One other thing to keep in mind is that Cryptohopper supports margin trading, with most brokers offering leverage up to 1:500.
- With Cryptohopper, you have the option of fully automatic or semi-automatic trading.
- Multiple analysis tools: A wide variety of candlestick pattern recognitions and distinctive indicators are included in most packages, as are facilities for customizing your chart’s appearance.
- Copy trading: Cryptohpper screens every strategy provider in the Marketplace to guarantee that only honest, reliable, and lucrative bot authors are listed.
- Drag and Drop: This implies that you don’t need to know any coding at all to design your strategy.
The CryptoHopper bot comes in four distinct price tiers, each with its own set of features. Plans range from $9 to $49 to $99 per month. There is also a free trial.
With the use of customizable bots, TradeSanta aims to make cryptocurrency trading more accessible to the average person. You can create, monitor, and update your own bots to purchase and sell cryptocurrencies on TradeSanta. When it comes to building the bot or connecting it to your preferred exchange, you don’t need any coding knowledge. TradeSanta is a cloud-based service that does not require the use of a particular computer or equipment to use. It also gives you the ability to keep tabs on your bots in real-time, from anywhere.
- There are two types of bots: Dollar-cost Average (DCA) and Grid bots.
- Using the maximum plan, you can run as many bots as you like.
- Support for Android and iOS devices is available in addition to web-based access.
- It has a variety of indicators, such as Bollinger Bands, the MACD, and the RSI.
The basic free plan is limited to two bots at a time. If you want to buy 49 bots a month, the cheapest paid plan costs $10.5; if you want an unlimited number of bots, the most expensive paid plan costs $70 per month.
Quadency is primarily a digital assets trading and portfolio management platform for both individual and institutional investors. Its crypto bot service has an extensive set of tools that makes trading easy. Some of the options to choose from include pre-configured trading bots, enhanced charting and portfolio analysis.
- Backtesting: Using Quadency’s backtesting service, traders can test their trading strategies by employing past market data.
- Smart orders: You can place either long or short orders, with trailing stop-loss and profit-taking orders.
- Portfolio rebalancing: This can help you get the most out of your holdings by adjusting your allocations. With this feature, your portfolio will be rebalanced automatically.
Annual plans for Quadency Pro start at $39.99 per month. Additional membership options include Quadency Unlimited ($99 monthly) and Quadency LITE ($0 monthly).
Cloud-based crypto trading automation program Trality functions both as a crypto trading bot generator tool and a community for day traders to interact, code, share ideas, etc. Trality is a Python-based trading bot-building platform that can be used by both novice and experienced cryptocurrency traders. Using an Application Program Interface (API) allows you to integrate with exchanges without needing any specific hardware or software.
- Code Editor: Python experts can use their coding skills to construct complex strategies using a relatively simple tool that is easy to use.
- The Rule Builder: Traders without coding skills can employ boolean logic using the Rule Builder, which has a drag-and-drop interface for non-programmers.
- Backtesting: Users can go back to the settings that produce the most profit based on the history of their backtests.
- There is a smartphone app available.
In the free starting plan, you can only trade up to €5,000. The monthly cost of the Knight plan is €9.99, the Rook plan is €39.99, and the monthly cost of the Queen plan is €59.99.
Traders can employ 3Commas’ automated trading bots as part of their overall trading strategy. Users can follow and mimic the trades of successful traders, construct and track their own portfolios, and more with the copy trading feature. You can connect to your favorite exchange and select a trading bot based on your trading preferences throughout the onboarding process. You’ll be able to run numerous trading bots at once if you have a premium plan.
- Smart Trade allows you to trade manually.
- It has mobile support for iOS and Android devices.
- Buying and selling cryptocurrencies is available manually on 18 different exchanges.
- Copying trade bots is possible.
It costs $14.50 to start, $49.50 to upgrade to Advanced, and $24.50 to upgrade to Pro. There’s also a no-cost option.
CoinRule is a crypto bot that helps traders trade crypto through template-guided automation. More than 150 trading templates are already available to users of the crypto trading bot, allowing them to tailor their investments to certain market dynamics. Beginners can use the templates to set up a trading strategy that works best for them. In addition, to stop loss and take profit, the platform incorporates other common technical indicators. It employs the Binance paper trading interface to provide real-time data.
- Demo Exchange: To practice trading in a safe environment, traders can use virtual coin allocations to test their trading strategies
- Supports multiple strategies: It allows several cryptocurrency trading approaches, including stop loss and take profit, as well as the integration of the most popular technical indicators.
- The ability to change trading rules: Traders can create automated trading rules or pick from any of the 150+ existing rules.
- Backtesting: You can test the efficiency and efficacy of your trading strategy by applying it to historical data.
The starter is free; however, it has a limited set of options. An annual subscription to the hobbyist edition costs $359 ($30/month, $39.99/year). The monthly and annual fees for Trader are $60 and $719, respectively, while those for the Pro package are $450 and $5,399, respectively.
HaasOnline is primarily a trade automation server that is used by cryptocurrency trading bots. Trades are executed instantly without the need for direct input from traders, thanks to the software. To control the program, users don’t have to be physically there. It is possible to access exchanges, leverage platforms, and find crypto exchanges by using API keys via the bot’s interface.
Also, users may design, test, and refine trading strategies fully from scratch using the HaasScript programming language.
- It supports backtesting and paper trading, as well as dollar-cost averaging and arbitrage.
- Has a variety of trading tools: You can automate trading with the help of market data, charts, and other tools.
- Haas integrates with more than 20 exchanges.
- It has more than 30 trading tools for hedging losses, e.g., stop-loss orders.
- Drag and Drop Visual Editor: This enables newbies to configure their bots with ease, even if they’ve no programming or coding experience.
They don’t give out free demos. It’s actually a paid trial, and users can purchase a 14-day “trial license” for 0.001 BTC.
Unlike most other cryptocurrency trading bots, HaasBot requires its users to download HaasOnline and configure it in the form of a Trade Server. To get started, all you need is an email address and a few minutes of your time. Upon completing the registration process, you will then have to install and configure the HaasBot Trade Server software.
- Supports multiple coins: It supports 500+ altcoins.
- Multiple bots: Includes trading, arbitrage, order, and scripting bots.
- Exchange integration: There are presently 20 major exchanges that integrate with HaasOnline.
- HaasScript: This is a scripting tool that may be found on the Haas Online platform. The scripting tool can also be used to generate reliable trading signals.
For a three-month Beginner license, you’ll spend just 0.04 BTC, while for a yearlong Advanced license, you’ll have to pay 0.32 BTC.
Should you invest in crypto bots?
The straight answer to this is “Yes”. There are certain advantages to using trading robots. Investing doesn’t have to be as emotional when you use a bot. When an asset’s value falls, many investors become frightened. Bots may prevent you from panic-selling or panic-buying a coin just because everyone else is doing the same.
Using a bot might be a helpful tool for some crypto investors who also trade. Nonetheless, if you’ve put in the time and effort to become proficient at using a crypto trading bot, then it becomes unnecessary.
Summary and verdict
Automated cryptocurrency trading is made possible through the use of crypto trading bots. In most cases, an investor or trader will have the task of analyzing market data and then deciding which cryptocurrencies to purchase or sell and at what price. As a general rule, you should keep in mind that trading bots can only assist you in making modest gains.
We have looked at the best-automated trading bots, including the ones that come with free crypto trading packages. Also, we have guided you on what constitutes the best cryptocurrency trading bot. However, in order to use a crypto trading bot effectively, you must have a comprehensive understanding of the crypto market and a well-thought-out investment plan. Also, without a good understanding of the dynamics of the crypto market, even the best crypto trading bots may not get you the results you want.
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