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Cryptocurrency trading can be really fun, but if you are brand new to the industry, you might not know what you are doing.
Even if you’ve had experience trading traditional currency before, cryptocurrency trading is a whole new ball game. The reality is, the industry is vast, and comprises hundreds, if not thousands of cryptocurrency tokens and coins at this point. This means that you’ve got a lot of opportunity to do really well and be successful with your trades, but you’ve also got a lot of learning to do.
The trouble is, you might not be so passionate about trading that you want to quit your day job right now, but you also don’t want to devote hours and hours of your time to it.
Enter a crypto trading bot. A trading bot can streamline the process and ensure that you are able to make your trades on time, and in the right places. It helps you decide what cryptocurrency to buy, what cryptocurrency to sell, and the best part is that it automates the trading process, so there’s no need to be online and present with every trade. This way, you can set your features to where you want them, and then completely forget about them.
Best Crypto Trading Bots
Let’s review what we believe to be the 20 greatest crypto trading bots in the industry right now, so that you can set your trades up for success.
Pionex is a free trading bot for Bitcoin and other crypto, and they say that you don’t need to muck around with things like APIs with their trading bots.
So far, they’ve managed to develop more than 12 crypto trading bots for their clients, and the best part is that all of their trading bots are built into their system. This means that there is no development that needs to happen on your side, so you can literally register with them and get started trading with their world-class trading bots right away.
Pionex can aggregate the liquidity from coins like Bitcoin, and something that you will be pleased to know about these guys is that they are easy to use. They are also safe, and have been granted regulatory licenses, making them a top choice if you care about keeping your assets safe online.
Bitsgap is another crypto trading bot that is known for its unique automated trading bot. There are thousands of different traders that use this dashboard every day, to maximize their returns when it comes to their trades.
The best part is that the clients comprise all different levels and skill sets, so you definitely don’t need to be experienced in the industry to use them. They implement a simple yet effective algorithm and distribute investments proportionately within a trading range that is predefined by you. Every time the buy limit offer is fulfilled, a new sell order is placed right above the current value of the coin.
This means that as long as the value of the coin stays within your preferred limits, the bot will be trading for you all the time. This way, you can maximize profit, while buying low and selling high. Perhaps the best part of this trading bot is that they are based in the cloud, which means that there’s nothing you have to download.
Quadency is offering a smarter way to trade for their clients, and we think that their best feature is their backtesting feature, which you can use to gather numbers and data for your trades, so you don’t have to go in blind.
For most experienced traders out there, they rely on performance history, so that they know what’s worked in the past and what’s not. If you are someone who is comfortable with taking calculated risks but likes to know the information that is available to you, then we definitely suggest that you check out this trading bot.
Cryptohopper is not a free trading bot, but we think that their paid subscription is really reasonable. They can help you not only with Bitcoin, but with other cryptocurrencies out there, and before you sign up for their paid services, they offer their clients a free trial for seven days. That’s where you can get to know how they work and decide whether they are well-suited to your trading needs.
The thing about this trading bot is that it is focused more on profit from the spread, on the order book. They believe that they have a world-class trading bot on their hands, and judging by the satisfaction rate of their clients, we are inclined to believe them.
Mudrex is the kind of crypto trading bot that makes it really easy to invest in your trades, so again like other trading bots on this list, you don’t need any prior experience to make the most of them.
One thing that we really appreciate with this trading bot is that they are upfront and honest about their information, and they have a wide variety of bots for you to choose from, based on your risk appetite.
They also have a varied pricing model, so you get to determine how much you spend on your trading bot, based on what your current budget looks like. They are currently backed by a lot of well-known Angel investors that are very engaged in their community. What’s interesting with this trading bot company is that they don’t build their own, but instead have created a marketplace of bots that have been developed by professional traders. This means that they’ve got a lot of additional info that you can take on board about not only using a trading bot but developing one.
Coinrule is among the best trading bots if you plan on trading around the clock, even while you sleep. They make it super easy for traders that haven’t had a lot of experience in the industry to build up their trading strategy really quickly. They also have a dashboard that is super user-friendly, and they can take you through the process of using their trading bot step-by-step. They have more than 150 default rules that can help beginners figure out which trading bot is best suited to their needs, and they also allow their clients to experiment with different trading strategies, including take profit, and stop loss. Honestly, as far as we can tell the list of trading strategies that this trading bot allows its clients as unlimited, and the company keeps its blog updated as well, so that you can be learning all the time.
3Commas is absolutely among the better known trading bots in the industry right now. The only reason why they are further down our list is because they are more in line with professional traders, which means that you do probably have to have a little bit of experience in the industry already to use them. So, you could pocket them away for a rainy day if you are new to the industry and use them once you have gained a little bit of experience. They have two different subscriptions for you to choose from, with their subscription price starting at $25 a month, and going up to $84 a month. They also have a trading community that you can be a part of, and they even offer their clients online courses so that you can get as much out of their trading bots as possible.
Haasonline, from where we are sitting, is absolutely among the most advanced crypto trading bots right now in the industry, and one feature that we appreciate the most is that all of their trading bots are prebuilt, which means that you get to simply choose which one is going to suit your needs, and which one is in line with your personal trading strategies. However, if you have had enough experience in the trading bot industry at this point to be able to develop one on your own, they offer their clients scripting language, so that you can come up with a highly complex bot through their platform. They even make it easy for their clients to backtest their bots before they implement them, so that you don’t have to lose anything in the process. The best part is that they offer their clients complete privacy, which means that you can create your own trading bots safely and securely.
Shrimpy is another crypto trading bot that isn’t free, but we think that they are worth your time and money. They are an excellent service for rebalancing, and they are also one of the only services that implements features like this, making them unique and original. They make it really easy for you to rebalance and automate your portfolio, so there’s no need to constantly be checking on it and adjusting it according to the market. The bottom line here is that this trading bot has been specifically designed for portfolio management, as well as backtesting, so if these are the kind of features that you are looking for, then this is an ideal option for you.
CryptoHero is an ideal trading bot option if you like to make your trades on the go, and want to be able to do everything through the mobile app. Not only do they make it super easy for you to make your trades through the app, but you don’t need any prior coding experience, and you can trade all the popular cryptocurrencies based on technical indicators around the clock. They support multiple exchanges, and let you track all of your crypto trading performance either individually, or across all exchanges at the same time. They let their clients configure their bot for technical indicators, which means that you can enter a trade with one and exit it with another.
TradeSanta is a crypto trading bot that can help its clients on 8 main exchanges, from Binance to Bittrex and Bitfinex. One thing that we love with this trading bot is that they are among the most affordable, which means that their pricing starts from just $14.00, and goes up to $70.00 a month. They have some really great grid bots for you to choose from and what’s interesting about their grid bots is that they offer some of them for free. This way, you get to decide whether you’ve got it in the budget to pay for a subscription, or if you just want to make the most of their free options.
Botsfolio is a crypto trading bot that uses powerful automated trading systems, and they get each of their clients when they first signed up with them to take a risk assessment quiz, which they will then use to recommend the best crypto investment strategy for your personal needs. Like a lot of other companies on this list, their trading bots have been built already, and they recommend strategies based on things like your current financial condition, your future financial goals, and risk appetite. This makes it super easy for you to implement your cryptocurrency trades without any prior experience. They have crypto trading bots for five different investment styles, and as far as we can tell, their hedged trading bot is their most popular.
Botcrypto is an ideal crypto trading bot if you want everything on autopilot. They know just how to personalize their trading bots for their clients, and they have a really easy drag-and-drop interface, where you can bring together more than 20 technical indicators to build up a solid strategy. You probably know where this is going at this point, and that is that you don’t need to know how to code to use this trading bot. They also offer their clients take profits, stop losses, and notifications. All of their backtests are free, and when you are ready to implement your crypto trading bot, you can start with them from just $12.00 a month.
Napbots is an important crypto trading bot in the industry, because they are passionate about decentralizing cryptocurrency trading, so that their clients can have access to advanced cryptocurrency trading bots without having to know how to code or have any prior experience on the market. As far as we can tell, this is their main goal, and based on how often you like to trade, you can choose from a number of different default crypto trading strategies to allocate your funds and automate your trading. They help their clients diversify their strategies, which is going to reduce your overall risk, and ultimately help you trade like a professional, even if you aren’t one.
Trality is one of those unique trading bots that is still in the early phases of their company, but they have been able to achieve so much in such a short amount of time. They distinguish themselves from the majority of other crypto trading bots out there, because they give you everything you need to develop a professional level algorithm, all on your own. They have a code editor, which helps you come up with the most creative and intricate strategies without having to know everything about coding. Of course, they’ve got some existing bots that you can make the most of, but if you are wanting to come up with your very own bots without having to program anything, then these guys are a great choice.
Not only is Superalgos free to use as a crypto trading bot, but they are open-source as well. This means that you get to be a part of a community that controls everything about the company, and you don’t have to answer to anyone. If you are a developer or trader that is looking to build a sophisticated crypto trading bot by implementing your own strategies, then these guys are a great option. They are hands down the most flexible, extensible, and powerful platform, and they will connect you to other professionals in the community, so that you can learn off them and share your own strategies. Their super advanced software can help you handle coordinated deployments of data as well as trading tasks across multiple exchanges, and you can scale your trades as well, increasing your chances of doing really well.
Bitcoin Code is a crypto trading bot that can help you with quick withdrawals, and one of the best features that they offer their clients is a simple and secure interface. This means that it’s not going to be complicated to get started with them, and you can learn how their features work really easily. You can join their existing clients to gain 35% in minimum profits every month, and they cover their features with complete regulations. They also have multiple ways to pay, and just so you know, there is a minimum deposit of $200.
Bitcoin Revolution is an experienced and well-known crypto trading bot that can help you trade with top-rated , reliable brokers. This way, you get to learn the tricks of the trade, and you get to learn from people who have gone before you and done really well with their cryptocurrency. They say that their existing clients report that 39% success on their trades every month, and the best part is that their software is free to use without any additional fees. You will have to deposit a minimum of $200 to get started with them, but honestly, we think that this is still really reasonable.
Bitcoin Trader is the type of crypto trading bot that provides its clients with lightning fast data analysis, which is a great way to get started. This way, they can help you work out which aspects of your existing trading strategy is going to help you be successful, and which aren’t, and they claim to have 99% accuracy when it comes to predicting their clients reported profitable trades. If you are someone who is hoping to be able to completely automate your trades at some point, they believe that their technology can cover this completely, so get to know them today, and work out how you can trade with your cryptocurrency without having to quit your day job.
Bitcoin System is a crypto trading bot that describes itself as a professional trading app, with accurate and agile technology, so that you can make the most of the market at the right time, and you don’t have to lose out in any way. They believe in their superior technology that has taken their existing clients far when it comes to their trades, so if you are looking for a reliable way to shift your money, and get a big return on it, then you definitely need to check out these guys.
What is a Crypto Trading Bot?
A crypto trading bot is a type of software, or a software program that utilizes an API to execute trades automatically for you, based on how their trading strategies interpret the current market data. It is designed to implement trades whenever the market conditions meet certain pre-programmed criteria.
A trading bot is able to combine traditional market signals like volume, price, and order with technological signals as well as other factors like social media movements to execute the right trades for your needs. What’s great about a crypto trading bot is that it can be programmed to line up with your personal strategies and preferences, so the main idea of a crypto trading bot is to remove the emotions from trading so that you can reduce risks and losses, and ultimately increase your profits.
How Do They Work?
Crypto trading bots place orders to sell or buy cryptocurrencies on their clients behalf. They can work in multiple different ways, which means that they can work as software, a browser plug-in, or through a mobile app. Let’s break down the process:
- Registration: Regardless of whether you are using a crypto trading bot online, or you are downloading it onto your computer or mobile, then you will need to register with the service, and create an account with them. To do this, they are going to ask for basic personal information, including your email address, phone number, location, and name. A lot of the time, registration will be free, but sometimes it will cost you. Most of the time, you will be able to use the bot straight away once your account has been verified.
- Initial Deposit: The vast majority of crypto trading bots out there will have a minimum deposit requirement, which we talked about a little bit above with some of the crypto trading bots on our list. The payment methods are usually flexible, which means that you can either transfer the funds from your bank or use your credit card.
- Trading: Once the funds have landed in your account, you may or may not be able to begin trading straight away, depending on transactional approval measurements taken by the company. Sometimes, they might ask you to upload a copy of your ID, or proof of your address before they let you trade. This kind of verification process normally is going to take less than an hour. Once you’re all set, you can set up your trading preferences, and withdrawal preferences as well.
Are Crypto Trading Bots Legal?
Using a crypto trading bot to trade cryptocurrencies online is completely legal in the vast majority of jurisdictions around the world. However, because the trading bot works on your behalf, you are still responsible for what it does. This means that if your bot is implementing pump-and-dump strategies, this is obviously against regulation. This is why it’s really important to remember that just like conventional trading, there are some actions that are considered illegal, and you need to think about this before you set up your crypto trading bot with your personal preferences.
When it comes to choosing the right crypto trading bot for your needs, you need to make sure that it is affiliated with an existing regulated broker. It’s also good to see if the crypto trading bot you are considering has been featured on any crypto-related forums, as this is a good indication of their legitimacy.
Are Crypto Trading Bots Profitable?
The bottom line with crypto trading bots is that they are nothing more than a software program. This means that while they are used often by cryptocurrency traders out there, there is no guarantee that you will make a profit from them. There are also a number of different risks associated with using a crypto trading bot. It’s essential that you remember that these tools are geared more towards traders, as opposed to investors. However, this doesn’t mean that you can’t make them work really well for you, and potentially create a passive income if you know how to use them and make the most of the opportunities out there.
What to Think About When Choosing a Crypto Bot
When thinking about choosing the right crypto bot for your needs, then you will need to consider a few features that make a good crypto trading bot. Let’s check out what these are.
- Security: the thing about crypto trading bots is that they are always a temptation for hackers. This is why it’s important that you choose a crypto trading bot that is backed by a credible and legitimate team that has robust security measurements in place.
- Reliability: Having a crypto trading bot that is reliable is incredibly important if you are trying to make a profit. It should allow you to trade around the clock, but you also need to go out there and check independent reviews, so that you make sure you don’t choose a crypto bot that is continually suffering from glitches.
- Backtesting: We’ve mentioned backtesting a few times in this article, which is when a crypto trading bot is able to compare its trading strategies against historical data from the market, which is going to be a big factor in how they are able to predict the existing market.
- Ease of Use: The majority of traders out there, no matter what their skill set, prefer crypto trading bots that has an intuitive interface that suits their level of expertise. It should be able to fall in line easily with your trading strategy and have the ability to customize.
- Price: As we talked about above, there are some crypto trading bots out there that are free, while there are others that are going to cost you a pretty penny. Generally speaking, the crypto trading bots that you have to pay for tend to come with better features.
- Customer Support: Naturally, because a crypto trading bot is an ongoing service, you need to make sure that the company you are choosing to work with has reliable, consistent customer support that you can get in touch with should there be any issues. If this isn’t offered, then you need to take this into consideration when deciding to work with a company or not.
Pros and Cons of Using a Crypto Trading Bot
- Crypto trading bots are really good at performing a large number of analytical tasks, something that isn’t possible when done by a human.
- They help you place quick orders, which means that you don’t have to lose out on rare market opportunities.
- The thing about crypto trading bots is that they are able to be run independently, so there’s no need to stay on your computer all the time.
- One of the biggest advantages to using a crypto trading bot is that they take the emotion out of trading.
- There are some crypto trading bots out there that are really complicated to set up.
- Some crypto trading bots aren’t well-suited for people who don’t have a lot of experience trading in the industry.
- In high volatility periods, you might need to keep an eye on your trading bot.
- What fiat currencies are supported by crypto bots?
Most popular fiat currencies are supported by crypto bots.
- Can a crypto trading bot affiliate with more than one broker/exchange?
Yes, there are a lot of crypto bots that can work with more than one exchange.
- Do they Cost?
There might be an additional fee for this, depending on the bot.
- Can a bot be used by someone with absolutely no experience?
There are some out there that can, but a lot tend to be better suited to those with a bit of experience.
- Can you adjust bots?
Yes, most bots out there are customizable
- Can I incur a loss when using a bot?
Yes, this is a risk that you take when using one, just like if you were implementing your own trades.
- Can I use a bot through my phone?
Yes, a lot of crypto bots out there offer multiple apps for their clients.
- Are crypto bots secure?
The ones that come highly recommended, like those on the list above, are. However, there are some out there that aren’t.
So, there you have it – what we believe are the greatest crypto trading bots in the industry right now. The thing about crypto trading bots is that they are supposed to complement your existing trading strategy, but they can also help you come up with a new one if you don’t have a lot of experience. We suggest that you have a look around so that you can find something that suits your trading needs, and make the most of any free trials that come up. When you stick to lists like the one above, you set yourself up for success, and avoid issues with security and malware. Good luck!
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