Crypto Trading Bots are software you can program according to your trading strategies; They work on your behalf with the provided set of instructions and strategies to buy and sell cryptocurrencies at the perfect time, interpreting the market value and movements.
You just need to connect your crypto exchange to the bot and let the bot trade for you, Binance is the most supported exchange at the a majority of the Bots.
Table of Contents
- Best Crypto Trading Bots:
- Why do you need Trading Bots?
- Is It Easy to Use Crypto Trading Bots?
- Free Crypto Trading Bots.
- Best Cases for Using A Trading Bot.
- Common Bot Strategies.
- How to Pick The Best Trading Bot for You?
- Advantages of Crypto Trading Bots.
- Disadvantages of Crypto Trading Bots.
- Are Crypto Trading Bots Profitable?
- Crypto Trading Taxes.
Best Crypto Trading Bots:
The following are the best trading bots for beginners and professionals:
Bitsgap
Starting at 19$ with a free plan. All-in-one trading platform for your Bitcoins and other Cryptocurrency. Trading, Portfolio, Arbitrage, Signals, Demo, and Bots.
CryptoHopper
Starting at $19 with a free plan. Manage all your exchange accounts, use market-making and exchange/market arbitrage and simulate or backtest your trading.
Shrimpy
Shrimpy is building a unified portal for the cryptocurrency market. The platform aims to connect customers to every custody solution and liquidity provider to enable seamless portfolio management.
3Commas
Starting at 14.5$ with a free plan. Smart tools for cryptocurrency investors to minimize risks, limit losses and grow profit across multiple exchanges.
HaasOnline
HaasOnline is one of the world’s most advanced automated crypto trading bots. The platform’s primary purpose is to provide a way of making fast, reliable, and profitable deals across all of the supported exchanges.
Coinmatics
Coinmatics is a copy trading platform where investors can copy signals of expert traders; therefore, new investors can make the same profit with no skill required.
Pionex
Pionex is one of the world’s 1st exchange platforms with 18 Free trading bots. Users can automate their trading 24/7 without always checking the markets.
WunderTrading
WunderTrading allows you to start trading and investing in crypto seamlessly. Copy traders, trade using the advanced trading terminal, or create a fully automated trading bot using TradingView.
Quadency
Starting at 39$ with a free plan. A fresh approach to crypto with an all-exchanges-in-one trading platform.
Bravo Bot
Bravo Bot creators believe everyone deserves equal access to their premium high-performance trading servers. They have thrown out the idea of expensive subscription fees that don’t even guarantee break even. Instead, if your bots don’t profit, you don’t pay.
Coinrule
A beginner-friendly and safe platform to send automated trading instructions to your favorite exchanges
Stacked
No coding required. Stacked offers great features to expand your trade, like pre-built indices, profitable trading bots with automatic rebalancing.
TradeSanta
TradeSanta requires a paid subscription, which include free trials. Setting your bot on TradeSanta don’t require coding.
Jet-Bot
A matching platform where you can copy best traders on Binance 24/7 automatically. Demo accounts with a $100,000 virtual portfolio are available.
Capitalise
Capitalise is the innovative way that lets you use natural language to make your investment ideas come to life. Also, it offers a seamless trading experience, removing technical barriers and opening new trading opportunities and channels for non-technical traders.
CryptoHero
CryptoHero automates your crypto trades for you 24/7. Create a bot in minutes. Run it, manage it, anytime, anywhere.
Botsfolio
Botsfolio is an automated and cloud-based trading platform. It’ll only require you to connect your Binance account. Also, you can set risk levels for Botsfolio to use.
Kryll
Kryll has a different pricing methodology; the user has to pay a percentage out of his total trade. It is a different way of using crypto trading bots and is trouble-free from coding.
BitUniverse
Your all-in-one cryptocurrency manager. Calculate profit/loss, track coin prices, customize alerts with a built-in decentralized wallet that supports Ethereum ERC-20 tokens.
Hummingbot
Hummingbot is a community-driven and open source project that aims to democratize algorithmic trading by making modern high-frequency trading strategies available to everyone.
Zignaly
Free To Use, 100% Delegated and Performance-Based, by copying expert traders under the profit-sharing model.
Altrady
Altrady is the ultimate trading platform for cryptocurrencies. Investors and traders can connect their cryptocurrency exchange accounts to Altrady to experience convenient buying and selling of bitcoin and altcoins in just a single platform.
CLEO.one
CLEO.one brings powerful, well-informed trading automation to independent traders that don’t want to spend time on coding but need to be present in the markets 24/7, with perfect execution.
Trality
Trality is an automated trading platform that’s meant to fit all types of traders. On Tralitly, you can code your own bot, create a rule bot, or pick a premade bot in the marketplace.
Mudrex
Mudrex aims to give you access to long-term wealth creation opportunities. Also, the platform exists to bring these opportunities for you in the crypto markets.
NapBots
NapBots is designed to automate your trading, removing fear and emotions. Algorithmic Crypto Trading Bots will automatically execute the selected trading strategies on your behalf without the need to be behind your computer after midnight.
HodlBot
HodlBot is a customizable cryptocurrency trading bot that enables users to index the market, create custom portfolios, and automatically rebalance their cryptocurrency portfolios.
eToro
Use the CopyTrader system to replicate everything they do in real-time. Get the same results as experts and maximize your profit.
Why do you need Trading Bots?
In this ever-evolving world, it is necessary to be vigilant every second, which is quite impossible being a human. Distractions, stress, emotion, and sleep can mess up our decisions. At this point, Crypto trading bots come to our rescue. Crypto bots work 24/7 with precision without human errors and complications. It will place order and exchange without biased decisions.
We all need a break to revitalize ourselves to make better decisions, during such times you can somehow relay and divide your workload with automated trading systems.
Is It Easy to Use Crypto Trading Bots?
The best part of the following trading bots is that it is not necessarily essential to learn coding to set up your bot. You can customize the bot according to your tactics, and it’ll start running in minutes. Also, It’s easy to put up your instructions in simple English or choose from the given options.
You just need to connect your crypto exchange to the bot and let the bot trade for you; Binance is the most supported exchange on the majority of the Bots.
Free Crypto Trading Bots.
The majority of novice traders prefer to start with a free platform. Of course, that’s very logical because at the beginning you’d want to save every penny you can until you start making profits.
Many of the previously mentioned platforms require a paid subscription. But also, some platforms provide you with services for free; check the list below:
- Cryptohopper
- Bitsgap
- Coinrule
- 3Commas
- Quadency
- Capitalise
Best Cases for Using A Trading Bot.
Some traders who have lots of experience refuse to use a trading bot. However, some scenarios definitely require a trading bot despite the trader’s experience. Basically, bots are much more accurate than humans, also they can run 24/7 without taking a break as long as they’re running on an efficient platform such as the platforms we mentioned earlier.
Timing: Accuracy is a major factor in trading, especially crypto trading. Bots can monitor the market and execute trades at the right time.
Repetitive Tasks: One of the things that bots can help with repetition is in periodic rebalances. You can just copy and paste the task and the bot will repeat it.
Complications can be simplified: A trading bot can simplify the whole process and do tasks that can usually take much time.
Common Bot Strategies.
Arbitrage Bot.
An arbitrage bot simply makes a task that seems impossible to be done by a human. Firstly, it scans pairs across all exchanges looking for small differences in price then it makes instant trades to make a profit.
We have made a full tutorial explaining how to make huge profits using Bitsgap’s arbitrage bot.
Grid Bot.
Grid bots are the best fit for new traders. You simply just set multiple “grids” of upper and lower cost limits for a certain crypto coin. After that, the bot then makes a series of interchangeable trades in order to incrementally accumulate profit.
Make sure to check our tutorial for Grid bots here.
Scalping Bot.
Scalping is the most short-term form of trading. Scalp traders only hold positions open for seconds or minutes at most. These short-lived trades target small intraday price movements.
Here’s also an article about Scalping that can be very helpful.
Copy-trading Bot.
Copy-trading, also known as social trading, is novice traders the go-to crypto trading bot. Due to its simplicity and consistency. In simple words, social trading is copying an expert trader’s trades automatically into your portfolio, therefore, you will get the same profit percentage as them.
Read this article about social trading for more tips.
How to Pick The Best Trading Bot for You?
Before subscribing to any platform, there are important things that you need to check out first, especially when you consider the financial influence choosing the wrong one could have on your portfolio.
Reliability.
Obviously, before choosing a trading bot, it has to be reliable, what does that mean? If your bot went stopped working suddenly, the crypto market won’t; therefore, you might be missing important trading opportunities. You can avoid that by going for a reliable company and reading our articles and customer reviews.
Security.
The most important thing to look for first is security because crypto trading bots connect to your exchange account in order to make trades; therefore, going for a shady platform can lead to losing your funds. But fortunately, the best crypto trading bots have track records of security.
Ease of Use.
Trading bots can be tricky to use, especially at the beginning. Always look for an easy platform with a simple user interface. Such thing is appreciated by novice and expert traders.
Profitability.
Profits can vary from a platform to another due to differences in programming. However, most crypto trading bots show a record of monthly and yearly profits achieved by their bots.
Transparency.
This one can be easily figured out by the previous ones. Reliable and transparent platforms show users reviews and profits on their main page; also make sure to do your research before choosing.
Pricing.
After making sure that the platform is okay with the previous points, you should look at the prices and make sure that there are no hidden fees. But neglect the pricing if you doubted any of the previous points, even if it was for free.
Advantages of Crypto Trading Bots.
Trading bots have many advantages which made them very popular.
Removes emotions from trading: huge advantage of crypto trading bots is that they remove emotions totally from your trades; therefore, you’ll never miss a good chance because of fear.
Fast and efficient: Crypto market requires speed, lots of speed actually. It’d take hours in order to scan the whole crypto market and look for good trading chances. But a trading bot can scan the entire crypto market across different exchanges in a few seconds.
24/7 Working: Trading bots will never take a break or get tired; they’re on duty all the time as long as you’re using a reliable platform.
Disadvantages of Crypto Trading Bots.
There are cons of using crypto trading bots that you will come across during using one, and they are:
Requires prior knowledge: You can’t just start using a trading bot without learning about trading. Of course, you don’t need the level of knowledge a manual trader has, but at least you should learn the basics of crypto trading in order to set up your trading bot.
Requires monitoring: The cryptocurrency market is volatile and because of that trading can cause losses during high volatility periods. As a result, you need to keep monitoring your bot every couple of days.
Are Crypto Trading Bots Profitable?
Trading bots can be very profitable, especially if you’re going for the right platform and the right strategy; however, trading bots are just software written by a human, it can not guarantee profits all the time, there might be losses if not used properly.
Crypto Trading Taxes.
Eventually, after picking the best platform for you, and making profits, you have to pay taxes. Just like trading, it doesn’t have to be manual, you can automate your crypto taxes calculations and get it done in a few seconds. We have written many articles about crypto tax calculators that you can check out here.
That was all for now; we would like to know from you in the comments. After reading this article, what is your Preferred trading bot and why?
Also, make sure to check our review for TradingView.
