Are you interested in cryptocurrencies and trading crypto? Currently, many boast on social media about their crazy crypto returns’ in the last few years, which in turn makes everyone and their grandmother interested in doing the same. Problem is, most people don’t have the time or skill that it takes to actively trade bitcoin or any of the altcoins.
That’s where crypto trading bots come in, with a trading bot you can copy successful and experienced traders with their buy’s or sell’s, automate the trading to decrease the average buy-in price, and technically make money while you sleep.
In this guide, we’ve compared different bitcoin trading bots available on the market. Below you’ll find the best crypto trading bots 2021.
Best all rounder Bot
Cryptohopper quickly rose to become the leader in the automatic trading scene. The reasons for their rapid growth are clear. For one, they were the first cloud-based cryptocurrency bot on the market, meaning their bot continues trading when the computer is off.
Their bot is also very easy to pick up for new users, due to the fact that they are the only trading bot to embed external signalers, allowing inexperienced traders to let their bot trade on autopilot under the expertise of these signalers. Traders with more experience can also take a manual approach, by configuring strategies based on multiple technical indicators.
Next, to this, Cryptohopper offers to backtest, trailing stop loss (including features to let your bot only sell with profit), the ability to trade using multiple exchanges, and a generally pleasant user interface.
Cryptohopper is also the only bot to offer a free trial for a whole month, with the ability to upgrade to Bunny ($19 p/m), Hare ($49 p/m), and Kangaroo ($99 p/m) if you feel like sticking around.
In comparison to 3Commas, Cryptohopper wins in terms of ease of use and the number of exchanges to trade on. Cryptohopper enables you to trade on 14 different crypto exchanges, whilst 3Commas offers us 13 exchanges. Not a big difference, but still a difference to consider.
If you’re looking for the best free crypto trading bot, the free trial over at Cryptohopper will get you started neatly. Once you’ve trialed it for some time, you can decide whether or not would be worth paying for it.
Best Beginner Friendly Bot
Bitsgap provides you with crypto trading bots, signals, portfolio management, and arbitrage opportunities.
Bitsgap helps you trade on 30 cryptocurrency exchanges, including Binance, Kraken, and Bitfinex. Moreover, with Bitsgap, you have access to over 10,000 crypto trading pairs plus several technical indicators that help you plan your strategies.
Another major plus point is that you can easily execute arbitrage strategies and deploy advanced bots to trade simultaneously across several exchanges with Bitsgap. The platform also allows you to control your trades using several market orders and exit strategies.
Other features include comparing crypto rates across several markets, instant switching between different exchanges, investment tracking, demo account for testing your strategies, and much more. In comparison to Cryptohopper, Bitsgap has a lesser features and the user interface is beginner friendly.
In short, Bitsgap is a safe, secure, and fully encrypted platform that allows you to trade on multiple exchanges at the best rates while also managing your portfolio. You automatically get upgraded to the PRO plan for 14 days if you sign up using the link below.
Best Advanced Crypto Trading Bot
Most of the crypto trading bots are capable of doing what you configured them to do. However, in a market as volatile as the crypto market, one needs to be ready to adapt to the sudden change in market conditions. This is where one would need a smart trading bot like the 3Commas trading bot.
You might think that no trading bot can be smart enough to adapt to the changing market conditions. However, the 3Commas bot comes with a unique feature called trailing loss and trailing profit. When using any other trading bot, you would be able to set stop losses to avoid the overall loss and take profit to secure the profit that you made. However, if the coin goes on to perform better after the bot sold your position, there is no going back.
The trailing feature offered by the 3Commas bot helps to achieve exactly that. The bot will analyze the market conditions and will make sure to sell your coins at the right time. Thus, ensuring the maximum return of your investment. This feature that allows the bot to act quickly to the changing market conditions makes the bot special.
Apart from this, the 3Commas bot provides all the features that you can see on a normal trading bot such as stop loss, take profit, automatic trade, etc. The bot is hosted online which makes it available always. You can access the bot from any internet-connected device by visiting your account on the website.
The bot can be paired with 13 of the most popular crypto exchanges including Binance, Kucoin, Bittrex, etc. The bot offers three different packages with the cheapest one costing you $22 per month and the most expensive package costing you $75 per month. You will, however, be able to use the bot’s services for free if you have an account on the Huboi exchange.
Given the current bearish trend in the crypto market, it has become very hard you anyone to make money. So, why not give the 3Commas bot a try and see how it can help you generate income even in a bear market.
NapBots.com is a cloud-based platform powered by AI that is democratizing trading techniques, previously reserved for hedge funds.
They offer algorithmic crypto trading bots supported on the major Cryptocurrency exchanges like Binance, Bitmex, Kraken, Bitfinex, Bitstamp, Okex, Bitpanda, and so on.
The bot has a user-friendly interface, and most users love this simplicity. This makes it easy for beginners to start trading.
It has never been so easy to trade like a pro, with NapBots you get instant crypto bots ready to trade for you in just 3 steps.
Step 1: Connect with your favorite crypto exchange
Step 2: Pick your strategies from their library
Step 3: Sit, Watch & let the Autopilot do the hard work
It’s the only bot in the market that allows you to build your own mix of strategies letting you manage your savings. You will be able to pilot your trading bot from your smartphone and change your budget allocation in total freedom.
NapBots has proven its performance; its oldest strategy BTC LO has been live since 2017 and now is about to reach the new ATH. Also, the flagship strategy BTC/ETH/USD AR was launched in 2018 and has a 12-month performance of 200%.
For high-frequency trading, they have developed hourly strategies that are very promising, during the recent crash has responded incredibly.
More importantly, your money never leaves your wallet. It cannot be safer than this! You just need to connect the bot via API giving permission to trade on exchanges. This new-age trading bot is definitely worth a try for both savvy and new crypto traders.
Pionex is one of the world’s 1st exchanges with in-built trading bots. It aggregates the liquidity from Binance and Huobi Global and is one of the biggest Binance brokers. In addition to the deep liquidity, Pionex provides 12 free trading bots, with which users can automate their trading 24/7 without always checking the markets.
- Pionex provides 12 free trading bots for retail investors.
- The trading fee is the lowest compared to most of the major exchanges. The trading fee on Pionex is 0.05% for makers and takers.
- As one of the biggest Binance brokers, Pionex provides deep liquidity that aggregates Binance and Huobi Global’s liquidity.
- Grid Trading Bot is one of the most popular trading bots on Pionex. It allows traders to buy low and sell high in a specific price range.
- Leveraged Grid Bot provides up to 5x leverage.
- Spot-Futures Arbitrage bot helps retails investors to make passive income with low risk. The estimated return for this strategy is 15~50% APR.
- Smart Trade terminal allows traders to set up stop-loss, take profit, trailing in one trade.
- Pionex issued one of the best Leveraged Tokens in the crypto market.
- Pionex has been granted by the U.S. FinCEN’s MSB (Money Services Business) License.
Exchanges: Binance, Huobi global, Pionex
Although this cryptocurrency trading bot is still in the initial stages of development, there is a free beta version of the trading bot available for use. The feature rich version will be available to the users for a chargeable fee.
One amazing thing about the Zignaly trading bot is that it can be integrated seamlessly with TradingView. Even though the bot is in the beta stages of development, the users haven’t found any issue with the above-mentioned integration, meaning that the developers have designed the software keeping in mind the ease of access for the users.
TradingView has an API that works on the Binance trading exchange. Thus, the Zignaly bot can be used to execute various trading strategies directly on Binance. While the current support for the exchange on the beta version lies only with Binance, there are plans to include other exchanges in the near future. For now, it’s a great Binance trading bot.
According to the developers, there are plans to include exchanges like KuCoin, Bittrex, Poloniex, and CoinBase Pro in the list of the supported exchanges for the API integration of the Zignaly bot.
There are some unique features that have been integrated into the trading bot by the developers. These include no limit on the pairs that you can operate on and an option to edit the positions as and when you choose. These have made trading quite a lot easier since there is no need to upgrade to any Pro version to enjoy the features such as the ones mentioned above.
The Zignaly bot also prides itself on transparency. On the official website for the Zignaly cryptocurrency trading bot, there is detailed information about the founders and the rest of the team along with their various social media profiles so that the users can connect with them directly.
The aim of the developing team is to provide users around the world with a trading bot that is available on all major exchanges. The developers have created a user-friendly ecosystem on the bot, offering quite a lot of features in the beta versions and bringing a lot more in the complete version.
Founded in 2018, Quadency offers automated trading and portfolio management services to retail and institutional crypto traders. This digital asset management platform has a variety of pre-configured as well as customized trading bots.
As for automated trading, Quadency allows you to trade on over ten exchanges, including Binance, Gemini, Kraken, Bittrex, Coinbase Pro, Kucoin, Liquid, and OKEx. With such a wide selection of crypto exchanges, you get access to over 3000 trading pairs.
The best part is that Quadency is integrated with TradingView and Messari. Thanks to this, you get up-to-date research, news, and portfolio management tools. Additionally, for institutional traders, Quadency has designed an Algorithmic Execution Framework, a professional trading terminal, and unified APIs that cater to their high-frequency trades.
Their major highlights include clutter-free and easy-to-navigate UI, API integrations, a range of analytical tools, and excellent customer support. Moreover, Quadency offers several crypto order strategies such as market, limit, stop, readymade Grid Trading, MACD, RSI, Market Making, etc.
This Gunbot features lots of inbuilt strategies which include Bollinger Band, Ping Pong, and Step Gain. Most of its users think that the BB strategy is the best and will rake in huge profits for them.
This trading bot, however, comes with 3 package plans that vary in price. The prices range from between 0.1 Bitcoins to 0.3 Bitcoins (note that these prices are subject to change).
Gunbot is on several cryptocurrency exchanges including Poloniex, Kraken, Bittrex, and Cryptopia.
When using this trading bot, you are advised to pay keen attention to your trade. Why? Well, the trading bot is configured to deal with the volatility in the market. In case of volatility spikes, you should turn it off.
Gunbot was previously one of our favorite crypto trading bots, but has now lost that position due to the price and it being outdated in relation to the new-comers such as Cryptohopper, Pionex and 3Commas.
Gekko will always be somewhere at the top of the list. It is by far the most popular – probably because it is a free Bitcoin trading bot. It can be downloaded from the GitHub platform (relax, you do not need to be a tech guru to navigate this platform. But if you need some help, there are numerous YouTube videos to show you how to go about it).
Gekko is an open-source piece of software that is constantly being improved upon by talented developers all around the world. This trading bot is supported by most cryptocurrency exchanges including Bitstamp, Poloniex, and Bitfinex.
Gekko is easy to use, fully automated, and straightforward. For newbies in the bitcoin industry, learning the ins and outs of this free bitcoin bot will be the least of your worries. The software comes equipped with essential trading features. These features include a web interface that is designed to monitor your trading strategies and data. Also, the bot can run on some backtested data and help you visualize the trade results.
The bot is designed to run on most major operating systems including macOS, Linux, and Windows. The bot can also keep you updated through telegram, email, and other social platforms. However, you should bear in mind that Gekko is not a high-frequency trading bot and as such, it does not execute the so-called arbitrage trades.
Coinrule is an easy-to-use automated crypto trading platform that allows anyone to automate their crypto trades and maximize profits or accumulate coins. For this, Coinrule gives you access to over 10 leading crypto exchanges, including Binance, Bitmex, Bitstamp, Coinbase Pro, Kraken, and Poloniex.
As for order types, Coinrule offers standard trading strategies such as stop-loss, take-profit, and buy the dip/breakout. Also, with Coinrule your orders are sent with minimum latency. Normally, Coinrule orders take around 500 milliseconds to reach the market.
The key highlight of this automated trading platform is its Lego-like modular strategy configuration features that allow you to create, tweak, and test strategies without any hassle. To top this, you can deploy trading rules on Coinrule without any coding knowledge.
To get started with Coinrule, you get 50 live/demo rules and unlimited template strategies.
Shrimpy is a crypto trading bot that allows you to manage your portfolio and do social trading, thereby growing your portfolio in the long run. With Shrimpy, you can copy strategies from the best traders in the market as well as create custom indexes across 16 leading cryptocurrency exchanges while implementing distinct trading strategies for each exchange. The crypto exchanges include Gemini, Binance US, Bitfinex, Kraken, KuCoin, and HitBTC.
Talking about security, Shrimpy encrypts every API key and stores them using validated hardware security modules. It also supports two-factor authentication (2FA).
The best part is that Shrimpy allows you to benefit from top strategies. You can copy leading traders, discuss different strategies and accordingly automate your portfolio. Moreover, Shrimpy manages your portfolio using rebalancing, dollar-cost averaging, and stop-loss strategy.
Shrimpy also provides backtesting tools that let you test your custom strategies/portfolios or indexes with historical data. Thanks to this, you can see how your strategy would have performed in the past. Using this insight, you can tweak or improve your strategies.
CryptoHero is an AI-powered multi-platform crypto trading bot. It allows you to connect to exchanges like Binance, Bittrex, Huobi, Kraken, Bitfinex, Coinbase Pro, KuCoin, etc., and automate your investments, increasing profits.
The CryptoHero team consists of fund managers with over 20 years of experience. So, you don’t need to worry about credibility.
This automated trading platform allows you to set both entry and exit positions. Additionally, CryptoHero gives you access to technical indicators to keep a tab on price trends, market volatility, and asset value. The technical indicators include Bollinger Bands (BB), Exponential Moving Average (EMA), Relative Strength Index (RSI), and Stochastic RSI (SRSI).
The pros of this crypto bot include basic and premium subscriptions, a variety of bots, AI optimization, several trading strategies, and cross-platform availability (iOS, Android, and Web). The free version of the bot gives access to most features which is great plus for a beginner. . Talking about cons, on CryptoHero, you need to pay for mobile and web subscriptions differently. Also, the bot discovery page looks basic.
TradeSanta is a trading bot that simplifies crypto trading using customizable bots. The major highlights include a simplified process for programming your trading bot, easy to navigate dashboard, and most importantly, affordable subscription plans.
With TradeSanta, you can create, monitor, and tweak bots to buy and sell cryptocurrencies on your behalf.
Their features include trading strategies like Grid and DCA, extra orders, long and short strategies, technical indicators such as RSI, MACD, Bollinger Band, and stop-loss parameters.
The best part is that TradeSanta stands out from other bots as it has affordable pricing, an easy-to-use interface, and educational resources to guide beginners.
Trailty is a crypto bot trading platform where you can easily build and deploy custom bots using their drag and drop feature. With Trailty, you can connect with exchanges like Binance, Coinbase Pro, Bitpanda Pro, and Kraken.
This automated trading bot is based on Python API that suits both beginners as well as advanced traders. Traility has a Code Editor feature for advanced traders, while it has a Rule Builder for beginners that allows you to drag and drop indicators to build your unique trading strategy.
Another major plus point is Trailty’s paper trading and backtesting features. Using these, you can see the performance of your trading strategies based on historical data. Then, once you know the viability of your strategies, you can do paper trading before you place any funds.
The pros of this platform include tools for both coders and beginners, end-to-end encryption, an interactive and user-friendly interface, and a fully cloud-based system. As for cons, Trailty doesn’t have a mobile application.
Botsfolio is a crypto trading bot that allows you to automate your crypto trades without the need for any trading experience or coding skills. The best part is that Botsfolio gives you 100% control over your crypto holdings.
This trading platform allows you to create custom trading strategies based on your answers to the questionnaire during registration. The trading strategies include value investment, hedged trading, futures trading, and fixed income strategies.
There are two areas where Botsfolio stands out from other trading bots – a) giving total control to users and b) hedging.
The pros of Botsfolio include no barriers to entry, total control to users, and risk management intelligence. Nonetheless, Botsfolio only supports Binance exchange, and you require at least 1000 Tether to start investing with Botsfolio.
Botcrypto is an automated crypto trading service that allows you to create and customize trading bots without any coding requirement. You can easily create your crypto trading bot using their drag and drop editor that has technical indicators, webhooks, take profit, trailing stop, wait, and more.
As for exchanges, Botcrypto currently supports Binance and Kraken.
Also, Botcrypto allows you to backtest your trading strategies on past data. The platform also allows you to learn from other traders using virtual accounts. To top this, Botcrypto provides over 60 strategies for free so that you can get started with automated trading without any barriers.
ProfitTrailer is a crypto trading bot that allows you to trade on exchanges such as Binance, Bittrex, Huobi, KuCoin, and Poloniex. The platform offers strategies such as LOWB, RSI, BB WIDTH, MACD, and EMAGAIN. Additionally, there are a dozen pre-defined strategies for you to choose from.
The platform has a simple and distinct user interface compatible with Windows, macOs, and Linux. ProfitTrailer also gives you a demo account to backtest your strategies before diving into actual trading.
As for security, ProfitTrailer is a registered platform in the Netherlands and complies with all international safety and fairness standards. Its security features include 2FA, IP restrictions, phishing blocker, Sandbox, and hardware wallet to store user funds.
The best part is that ProfiTrailer has an extensive customer support with live support feature, video guides, support tickets, and a resourceful FAQ page.
Mudrex is a cryptocurrency trading bot using which you can create your automated trading strategies and manage your portfolio. Mudrex supports exchanges like Binance, Binance US, Okex, Coinbase Pro, and Bitmex.
This automated trading bot gives you access to seven battle-tested trading strategies such as Ichimoku. Also, you don’t need any coding knowledge to build and deploy trading bots. Instead, you can easily use Mudrex’s drag and drop builder to create your custom trading bot.
Apart from this, Mudrex offers you a backtesting engine to test your strategies and optimize them. To top this, Mudrex allows you to test the trading waters by paper trading. You can paper trade for as long as you want before you invest actual money.
Mudrex marketplace is the major highlight of this platform. Here, you can subscribe to trading strategies created by other users. You can also list your trading strategy on this marketplace and earn money every time a user buys your strategy.
19. Wunderbit Trading
Also a crypto trading exchange, Wunderbit provides an automated crypto trading bot using which you can create your custom automated trading protocol. If you are a crypto-savvy investor or engage in crypto day trading, you should consider Wunderbit.
The pros of Wunderbit Trading include multiple account management features, best arbitrage tactics, and easy automated trading capabilities. The only con is that you will need to refine automated trading needs.
Wunderbit provides a spread trading terminal feature that is hardly found in other trading bots. Using this, you can apply the crypto arbitrage strategy to crypto futures, reducing the overall volatility and limiting your risks.
HodlBot is a crypto trading bot that also doubles as a portfolio management platform. With Hoddlot, you can trade on Binance, Kraken, KuCoin, and Bittrex.
This automated trading service provides three trading strategies –
- HODL10 – Your portfolio will hold and balance the top 10 cryptocurrencies by market cap.
- HOLD20 – Holds and balances top 20 crypto assets by market cap with individual asset holdings capped at 10%.
- HODL30 – Holds and balances top 30 cryptocurrencies by market cap with individual asset holding capped at 10%.
Additionally, you can create your own index if you don’t prefer the three existing strategies. You can also blacklist the coins you don’t wish to have in your index. You have three portfolio weighting strategies while creating your index – a) event weighted, b) market cap weighting, and c) square root of market cap weighting.
Furthermore, Hodlbot also offers two types of portfolio rebalancing – periodic and active rebalancing.
This is yet another free bitcoin trading bot. Like Gekko, it is an open-source bot. It is available for use on all major operating systems and can be modified to fit every user’s preferences. Zenbot has been created using artificial intelligence. As such, unlike Gekko, it can exploit the arbitrage opportunities and execute high-frequency trades. Additionally (and this is a huge plus for this trading bot), the software can perform multiple cryptocurrency trades at the same time.
The trading bot is supported by Bitcoin exchanges the likes of Kraken, Gemini, GDAX, Bittrex, Quadriga, and Poloniex. The developers of this trading bot maintain that they still are working to improve on the bot and in the future, it will be supported on all exchanges available.
When we are talking about trading bots, there are only a few which can claim to have been built on a decentralized platform like the various digital assets that they trade with. The developers of Autonio have made sure that the trading bot is one of the few to make it to the list.
The entire infrastructure is built on a decentralized platform, meaning that there is no single entity that controls all of its operations. The users are free to check the transparency of the program and no institute can be held accountable for its failures. The users of the Ethereum blockchain will have a hassle-free and smooth experience as well.
Marketed both to the retail and the professional traders, the Autonio cryptocurrency trading bot has built-in features for the creation of the various trading signals that are based on the in-built trading strategies. There is complete access to the technical indicators and the traders can make the most out of them through the Autonio trading bot.
There is an Autonio marketplace, where the users can see the other users sharing various trading strategies and algorithms that have helped them make profits. If you are not familiar with the process of setting up your own algorithm using the bot, you can choose one from the marketplace and start your trading right from day one.
There is an in-house token by the name of NIO which is used by the Autonio trading bot. This token is based on the Ethereum blockchain and uses the ERC-20 algorithm. This token can be purchased from all the major exchanges like Bittrex and Ethfinex. The entire Autonio platform revolves around the utility of the NIO tokens and they can be utilized just like any other token for a decentralized app.
The Autonio trading bot is not free. It does come at a moderate set price. The average price of using the Autonio trading bot comes in at around $50 per month and the users can download it for all the major operating systems like Windows, Linux, and macOS on computers, and even on Android for the mobile operating systems.
Built on an open-source code, the CoinBot cryptocurrency trading bot is a rental service that helps traders execute daily trades automatically. There is a complete description of the algorithms that are used in the bot on the official website along with a link to the Github page of the bot.
CoinBot has a number of features which is why it is one of the most widely used trading bots. It has a multi-tier commission program that makes it one of the most lucrative rental services in the world. There is a referral program as well, meaning that the users who spread the word about the bot get a personalized link and anyone joining in through their link will provide them with an opportunity to gain some kickbacks.
The entire platform is cloud-based, meaning that the users will not have to install the program on any device. Transparency has been given a lot of importance as well. The complete information about the team, program, and the entire project is given on the official website of the project, leaving no doubts in the minds of the people using the bot.
The code of the program can be tweaked to provide higher returns through the open-source code that is available on the Github page. There is a diversification in the types of bots that are available on the website, with aggressive, balanced, and conservative trading strategies.
There is an option to purchase additional services through the rental program. Users have paid extra just to gain the three additional features which include the Telegram Assistant, Arbitration bot, and the Social Analyzer.
Each of these three add-on services has its own uses and it is quite worth the extra money to get them. The bot automatically sends an alert to the user when the loss reaches 10% on a trade. It helps the users know when it is time to make a decision for the cancellation of a trade.
The cryptocurrency market is subject to high volatilities which makes it difficult to predict the right time to invest. Kryll.io is an automated trading bot that helps to find a way around this problem.
Launched in 2018 by a team comprising of Luca Benevelo, Philippe Longere, and Paul Collorafi, it consists of some of the most advanced features for creating your trading strategy which can be used by people without any prior programming experience. The platform will provide you with simple and powerful tools that will enhance your creativity. A very flexible editor, infinite possibilities!
Drag and drop condition or indicator blocks, connect them and create basic or advanced automated strategies. All this can be created without any line of code!
Kryll.io offers various blocks that can be linked; such as logical operators, market indicators, value triggers, improved technical analyses, information, and notification blocks. As the platform evolves, new functionalities will be added, such as risk analysis tools and new blocks, some of which are based on Artificial Intelligence such as Sentiment Analysis and trend prediction by Deep Learning.
You can test your strategies on the entire history of cryptocurrencies for up to 4 years with 1min candles and improve them with a few clicks.
You can also use the marketplace if you don’t want to create strategies.
The marketplace connects the creators and users of the platform. Simply select the strategy that suits you based on the pair you want to trade on and let it do the work for you!
When the BTC-E exchange was shut down in 2018, one of the most popular crypto trading bots disappeared from the internet. This was the leonArdo trading bot. It was, however, replaced by the Margin cryptocurrency trading bot, giving the users the continuation that they required from the interface which they were already using so comfortably.
Margin had taken over the leonArdo trading bot, adding in more features of its own to give an overall better cryptocurrency trading bot to the users. The layout has been cleaned, and even more effective trading strategies have been added to the ecosystem with stronger security to protect the finances of the users.
There are a number of exchanges that are supported on the Margin automated trading platform, including Huobipro, Bitstamp, Bitfinex, Bittrex, Poloniex, OKcoin, HitBTC, Binance, Kraken, Coinbase Pro, and Bleutrade. In the beginning, the leonArdo trading bot was considered one of the most premium automated bots since it was priced at 0.5 BTC for usage.
However, ever since the bot was acquired by Margin, the price has dropped and the users could not have been happier. The base plan for the bot starts from a one-time payment of $89 now. However, this package is limited to only $10,000 on one exchange. If you want to hold in more amount then you have to upgrade the plan to a higher-priced package.
There is a Standard package, which costs $169, and has unlimited bots as well as all the technical indicators that are provided by the system. However, it too can hold only a limited amount of money on any exchange, this time the money is restricted to $100,000.
The last one is the Professional plan, which costs $1,999 but has multiple APIs on supported exchanges, all technical indicators, unlimited bots, and no limit on the holding amount in any exchange. Users can pay this fee through multiple methods, including Visa, MasterCard, PayPal, and BitPay.
There are online tutorials that are included in each plan. This helps the users understand the ways in which the different strategies work and how they will be useful in helping them earn profits.
With the many-day trading Bitcoin trading bots available, it can be a daunting task for a newbie in the industry to pick the best crypto trading bot there is. As such, it is important that you are aware of some of the factors you need to consider while choosing one.
What to Consider When Choosing a Crypto Trading Bot
This is at the very top of the list because as with every online business, trust is a key element of success. The trading bot should be a company that can be trusted. As such, the review list contains companies that provide advanced tried and tested trading bots strategies. Most of the companies on the list have been in the industry for quite a long time and have a trail of satisfied clients who speak highly of their expertise and level of service.
It would be unfortunate if you were to get involved with a company that is shady. You are ready to invest your hard-earned money in the Bitcoin trading venture, but this does not mean that you are willing to throw away your money with no return. Getting conned is not a risk you are willing to take. The companies listed in the review section provide you with intricate details of how they run their business.
They provide you with the opportunity to fast forward your learning curve about trading strategies and Bitcoin bots before you subscribe to their services. Additionally, some even offer free trials. The free trials allow you to try their services before spending a dime of your hard-earned money.
In addition to transparency and reliability, you should also be keen on the profitability of the company. It is pointless for a company to be trustworthy but not provide you with the maximum possible returns. The whole venture will not be worth your while. Sure the crypto market is volatile (though it has increased its stability in the past few years) but rather than shy away from the investment opportunity altogether; you should get in business with a company that has some of the best strategies and bitcoin trading robots.
4. Overall experience
To determine the overall experience, we went a step further and investigated the extra features each of these crypto trading platforms offers and included the strategies provided by the various companies and customizable bots. It is a good trading strategy is imperative. But also important is that these strategies are applied to the right platform.
5. Ease of Use
Now truth be told, programming experts and IT gurus are not the only individuals interested in crypto bot trading. As such, if you are not highly skilled in IT, you will want a Bitcoin trading bot that is easy to use and that will make life easier. All of the companies listed have trading bots that are a breeze to use. They are suitable for newbies to Bitcoin trading and also experienced the same.
Bitcoin is a rather secure cryptocurrency. But this does not stop people from trying to conduct creative and tech-powered steals. As such, you need to consider the security of the trading bot before using it. The companies we review have high levels of security.
Frequently Asked Questions about Cryptocurrency Trading Bots
Are Free Bitcoin Trading Bots Real?
While most of us, you included, might be skeptical when you hear of free things that can generate profits, there are a handful of open-source bitcoin trading bots that indeed can be classified as free bitcoin trading bots. Zenbot and Gekko being the favorite two of the free crypto trading bots offered, they are for sure great.
However, they do require some technical skills to set up and use, thus, we would rather encourage you to try a free month of Cryptohopper, since it is beginner-friendly, yet suits the advanced trader, and is cloud-based, meaning you won’t have to have a machine (computer or VPS) constantly running to be able to day trade. There is no doubt as to why it has deserved the spot as the best crypto trading bot on our list. And since it offers a free trial, why not sign up and try yourself?
How Do Bitcoin Trading Bots Work?
It is easy. Each bot features a set of parameters and indicators that when they all align will signal the bot to make a sell or a buy of the exchange you prefer. Most times the Bitcoin trading bots are tuned to a specific period. This is an educated guess from the creator on how the market will behave and work in the future.
Trading bots are growing in popularity as Bitcoin’s popularity soars through the roof. With so many individuals depending on the Bitcoin trading bots, more and more developers are coming up with fraudulent software to cheat naïve Bitcoin investors of their hard-earned money. With the choosing factors above and the reviews of the best and most trusted Bitcoin trading bots below, you will be well equipped to choose the best crypto trading bot available.
Are Crypto Trading Bots Profitable?
What many readers ask us about are the average returns of cryptocurrency bots typically is. However, there is no such metric available, unfortunately. However, if you think cryptocurrency is here to last, but don’t want to put the manhours into trading (that typically is required, especially on a 24/7 market such as the market of cryptocurrencies), a crypto trading bot might be the best choice for you.
Using a social trading platform (which is the most popular trading bot service available), can result in good returns – and it can also result in losses. The traders available to copy have a track record that proves their skill of cryptocurrency-picking, but they can also be wrong sometimes. Make sure to not invest more than what you can afford to lose, as always.
Are Crypto Trading Bots Available Worldwide?
Yes! No matter if you’re located in Sweden, Africa, or in Australia looking for automated crypto trading, these bots are available for you.
Are Crypto Trading Bots Legal?
Yes. It is 100% legal to use a bitcoin trading bot. All automated trading bots (non-crypto) are generally all legal on any exchange, and there’s no difference with crypto bot trading.
What are Some Strategies That a Trading bot Platform can Offer?
Advanced crypto traders use a wide range of trading strategies. Whilst your own trading strategies are probably less advanced. With many crypto trading bots, you expose your portfolio to more advanced strategies such as:
- Dollar cost averaging
- Exchange arbitrage
- Timing buy and sell
- Social trading
- Paper trading
- Futures trading
With these automated trading strategies you can level up from your own strategies and hopefully beat your own manual trading track record.
Which was the first crypto trading bot?
There is no clear answer to this question, but there were a lot of crypto trading
Why not go with an Open-Source Crypto Trading bot?
Open-source means free, right? No, not really. Open-source is just a way to share code between people and let everyone adjust it and use it on their own projects. It’s a cool community but for the average Joe, an open-source crypto trading bot just isn’t the right fit.
Free crypto trading bots are available, but for most people, we recommend you pay a small fee to get proper service and ease of use with your trading. The most important aspect is that the best bitcoin trading bots should be cloud-based so that you don’t have to keep your computer running (and dedicated to trading) 24/7.
What does Reddit have to say about the Best Crypto Trading Bots?
Reddit has a positive outlook towards crypto bots, some Redditors suggest developing own stratgey and others have seen sucess with third party trading bots. At the time of writing this, Cryptohopper got its own subreddit for example with over 2500+ members .
NapBots have over 1400 members on their subreddit. Reddit seems to love bitcoin trading bots, they are people just like you and me, after all. There are a good number of trading tools available on the crypto market, and you can rest assured that there’s a subreddit for each tool available.
How do you file Taxes for Crypto bot Trading?
To file taxes on your crypto movements, all you need is an automated tax reporting platform. Token tax is a popular name when it comes to automated tax filing.
Once you have a tax reporting software, select all the crypto exchanges that your crypto bots trade on and import historical data from those exchanges by connecting your account via API key or sending transaction history CSV file.
Next, import other transactions that aren’t recorded by the exchange, such as mining, staking, interest accounts, etc. Finally, please review your order, and that’s it, you are ready to create your tax report now.
You can now file your taxes based on your crypto tax report. Also note that the taxation law might differ depending on your country of residence, here’s a detailed tax filing guide for US citizens.
How can you Create a Crypto Trading bot Yourself?
You can create a crypto trading bot by following these steps –
- Get the APIs of crypto exchanges you want your bot to trade on.
- Create your account on all cryptocurrency exchanges you want to use.
- Choose a bot trading model (Trend following, arbitrage, market making, etc.).
- Outline the mathematical architecture of your bot, i.e., define the type of data you want your trading bot to interpret.
- Start coding your trading bot.
- Test your trading bot for bugs and performance.
- Once all the bugs are fixed and the bot is optimized for high performance, you can deploy your crypto trading bot.
The process to create a trading bot requires technical know how, if you aren’t technically sound, signing up for a bitcoin trading bot makes more sense.
How to Select a Crypto Trading Bot Software?
The crypto trading bot you select should tick the following boxes –
- The bot should be easy to use.
- It should fit in your budget.
- The team behind the crypto trading bot should be experienced and credible.
- The bot should use the trading strategy you want to implement.
- The after-purchase support for the trading bot should be robust.
- The trading bot you choose should have an active developer and user community on platforms like Telegram, Discord, or Reddit.
- Cryptocurrency is a dynamic market. As a result, the crypto bot should be able to adapt to the changing market conditions and execute its unique strategy.
Advantages of Bitcoin Trading Bots
With the increased use of cryptocurrency trading bots, human error is eliminated or minimized, which results in improved accuracy. Trading bots offer constant interaction with the market, which means that you can go to sleep or go about your day and have it do all the work for you. Not only that, but you can adjust it to monitor, analyze, and trade multiple different assets in different markets.
These bots can analyze as many cryptos as you will indicate in their algorithms and work with the number of exchanges you want them to cover. In short, trading bots maximize the profit potential by employing a mechanism that is responsive to market shifts around the clock.
While a human can take up to a few minutes in order to calculate and recover various formulae, a bot can calculate much faster, sometimes even nanoseconds with accurate results. This feature is of great use when the price of a currency is subject to frequent change. Automated systems have the ability to generate orders as soon as trade criteria are met.
Sometimes, changes in prices are very quick since the prices are constantly fluctuating and investors are often unable to effectively deal with these changes. The advantage of bots is that they can work twenty-four-seven and make it a much faster process, while a trader would have to spend hours together for trading alone.
Automated trading systems minimize or sometimes even completely eradicate emotions, as bots do not possess any emotions, unlike humans. By keeping the emotions in check, traders basically have an easier time sticking to the plan. Besides, trade orders are executed directly after the trade rules have been met, so traders can’t undo or question the trade based on emotions.
The bots can’t have any doubts or questions- they don’t experience frustration, so they are, essentially, better for trading. Automated trading also helps in ensuring that a certain amount of discipline is maintained in order to follow through with the trading plan perfectly.
You can also copy advanced traders which helps you sell and buy when these traders deem that it is time to do so.
Easy portfolio management
Multiple crypto exchange accounts can often be connected to one crypto trading bot platform. If you have different cryptocurrencies spread out on different exchanges, you can easily connect them to a cloud-based trading bot and start trading without logging into each account individually.
Disadvantages of Bitcoin Trading Bots
Requires Human Monitoring
Ideally, you could say that these bots can work all day without any human interference. However, that is not true. In reality, there is a possibility of mechanical failures, such as connectivity issues, power losses, or computer crashes. These can be harmful because sometimes the internet connection is poor which could lead to an order being lost.
Dealing with Crypto bots can sometimes become dangerous due to security issues, like:
- Bots could be hacked.
- Bots can copy a person’s important account data and send it to a third party.
However, this isn’t something that should concern you since the exchanges are the ones owning the data essentially and protect it very dearly.
Cryptocurrency is the thing right now and will be for the foreseeable future. Bitcoin trading can be done by literally anyone who has got the interest. It might be confusing for newbies at first, but they soon get a grasp of things. Given the presence of many trading bots, it is imperative that you do your due diligence. Do your research and read reviews to ensure you are dealing with a reliable and trustworthy trading bot and company.
Anish loves reading, researching, and writing about crypto and blockchain. He started his crypto journey early in 2017, what started as a fad is now a full-time hobby. He curates guides after thorough research on platforms and is responsible for the most in-depth guides on the site. You will find him walking his dog (not Doge) when he is from his Laptop.