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best crypto trading bots


  • Last Updated: March 10, 2022

Cryptocurrency is a rapidly changing market – so information about trading bots changes frequently. Prices change, features are added, and ratings sway. There are three main changes that we’ve made to this version of our article:

  1. Some bots have been updated and now have new features and pricing models. Look for more details in the “What’s New” section for each bot review.
  2. There are two new bots added to our list – BitUniverse and Pionex. These two platforms have recently joined efforts to create the best experience possible for their users.
  3. We have added a more detailed description of the methodology used to pick the best crypto bots of 2022.
  4. Several types of bots and its strategies were desribed in this guide. The detailed description will be available soon, so keep tuned!
  5. We have answered some popular questions in FAQ.

Contents

  • Automate your Crypto trading strategies and amplify profits by selecting the correct crypto-trading bot to match your needs.
  • What you should look for in a crypto-currency trading bot:
  • What exactly is a cryptocurrency trading bot?
  • What are the benefits of crypto trading bots?
  • What factors should you consider before selecting a trading bot?
    •  Reliability
    •  Security
    •  Profitability
    •  Transparency
    •  User-friendliness
  • Pros and cons of using trading bots
    • Pros
    • Cons
  • Top 5 Crypto Trading Bots
    • 1. 3Сommas
  • 3Commas Pricing
  • Platforms
  • Pros and cons
    • 2. Gunbot
    • 3. CryptoHopper
    • 4. TradeSanta
    • 5. BitUniverse/Pionex
  • Outsiders
    • 1.  Tradewave
    • 2.  USI Tech
  • Our Methodology for Finding the Best Automated Cryptocurrency Platform
    • Reputation of the team
    • Guidance & Support
    • Bot Features in General
    • Artificial Intelligence Trading Bot
    • Costs
    • 6. Ease of Use
    • Reviews
  • When it comes to choosing a cryptocurrency trading bot, there are a few things to keep in mind.
    • DCA Bots
    • Options Bots
    • GRID Bots
    • Social Trading
    • Marketplace
    • Backtesting
    • Trading Securities
    • Stop Loss and Take Profit with Trailing
    • Intraday Trading
    • Scalping
  • Types of Cryptocurrency Trading Bots and Strategies
  • Top 4 Trading Bots
  • FAQ on Bitcoin and Crypto Algorithmic Trading
    • Are Trading Bots Legal?
    • Do Cryptocurrency Bots Work?
    • What Is the Best Bitcoin Robot?
    • Is Crypto Trading Still Profitable?
    • What Are Telegram Cryptobots?
  • Conclusion


Automate your Crypto trading strategies and amplify profits by selecting the correct crypto-trading bot to match your needs.

Bots are computer programs that are programmed to perform specific activities with little or no human intervention. Crypto trading bots, on the other hand, automate the process of trading one or more cryptocurrencies on one or more platforms on behalf of the owner or user of the cryptocurrency.

They are used to automate trading techniques and are utilized to increase trading profits.


What you should look for in a crypto-currency trading bot:

  • The best trading bots are profitable and allow users to customize them as much as possible. It is beneficial to choose a bot that is appropriate for your experience in trading. They offer a variety of methods, incorporate social trading to enable the purchase or use of free third-party signals, and have been well tested.
  • The most effective bots combine automated and manual trading or monitoring tactics. Bots are typically utilized in institutional trading arrangements for market making.

It’s not easy to trade cryptocurrency. This is due to the fact that, unlike stock markets, cryptocurrency exchanges do not close, making it a tremendously stressful situation for both newcomers and seasoned traders.

In addition, the bitcoin market is quite volatile. If you’re a crypto investor, you’re probably used to the (depressing or exhilarating) sensation of waking up to enormous losses or large gains in your account.

To retain control of trading even in your sleep and to counter the volatility of the cryptocurrency market, traders are increasingly relying on trading bots.


What exactly is a cryptocurrency trading bot?

Trading bots for cryptocurrency are software programs that can help you automate your trading strategy and take full advantage of the cryptocurrency exchange market. Even when you’re sleeping, these bots can trade! Crypto trading bots are becoming increasingly popular as a result of the additional options they provide.

There are so many crypto trading bots to choose from that it can be difficult for newcomers to know where to begin. This in-depth guide will cover the many types of crypto trading bots. By the conclusion, you’ll know which bots are the most effective, and you’ll be able to choose the one that best suits your demands.


What are the benefits of crypto trading bots?

By allowing investors to conduct trades based on a pre-designed plan, crypto trading bots remove fear and emotions from the trading equation.

You can also use bots to conduct your trading strategy 24 hours a day, seven days a week. If you’re a part-time cryptocurrency trader or can’t keep up with the market at all times, the bots allow you to trade efficiently without having to devote a lot of time to market research.


What factors should you consider before selecting a trading bot?


 Reliability

If your bot stays offline for an extended period of time, you may lose out on lucrative trading possibilities. As a result, while purchasing a crypto trading bot, dependability is crucial.

But how can you be certain that a bot is trustworthy? To be sure of a bot’s trustworthiness, look at what its users have to say about it. Choose a bot with a long track record of satisfied customers who can attest to its dependability and level of service.


 Security

Your currency is accessible to your trading bot. This can be dangerous, especially if you’re working with a shady bot. While there is no way to know for sure how secure a trading bot is, you may reduce your risks by selecting one that is.


 Profitability

It’s worthless to use a trading bot if it doesn’t offer the best potential results. As a result, before you spend your time and money in a bot, conduct your investigation on its profitability.


 Transparency

Transparency distinguishes cryptocurrencies from traditional currencies; their entire network is transparent, leaving no space for deception. The greatest trading bots adhere to the same set of rules. Invest in bots created by trusted developers. Transparency not only aids in the selection of a trustworthy bot, but it also allows you to seek assistance should problems arise.


 User-friendliness

Crypto trading bots’ main goal is to make bitcoin trading simple for everyone. As a result, opt for bots with an easy-to-use UI. With just a few clicks, you should be able to control your bot.

Pros and cons of using trading bots


Pros


  • Efficient

Trading Bots may assess market conditions in numerous cryptocurrencies at the same time and execute transactions when profit margins are available.

Humans, on the other hand, aren’t particularly adept at multitasking. You can only examine the current state of the cryptocurrency industry by going through each one at a time. And switching from one cryptocurrency to the next can cause you to miss out on a lot of good trades. Bots are more efficient than humans because of their capacity to multitask.


  • Emotionless

The markets for cryptocurrencies are quite volatile. Furthermore, the major players frequently manipulate the currencies. The emotional turmoil that comes with such large price swings can make you unstable, leading to you placing unwise orders.

Trading bots, on the other hand, are unique. They lack human feelings and are unconcerned about money. As a result, market manipulations and large price swings have no effect on their operation.


  •  Increased speed

We have a habit of taking a long time to complete trades. Unfortunately, in the unpredictable cryptocurrency market, such delays can be costly, as a good trade can lose value if it is not executed quickly enough.

Trading bots, on the other hand, immediately place orders. They are far more effective than humans due to their greater speed.


  • Never sleeps

You won’t always be able to sit in front of your computer and keep track of your finances. You require sleep, and other commitments that require your attention constantly arise. However, the bitcoin market continues to move forward while you sleep.

The opportunity cost of not staying on top of the market 24 hours a day, seven days a week is that you miss out on many opportunities to generate more money. A trading bot, unlike humans, can operate 24 hours a day, seven days a week, and hence never loses out on possibilities.


Cons


  • Inexperienced traders should exercise caution.

    Cryptocurrency bots can help you improve your trading results. This, however, necessitates some understanding of what’s going on behind the scenes. While some bots come with excellent pre-programmed trading configurations, they rarely produce the best results.

    Changing a bot’s configuration settings without understanding the technical aspects of trading might result in significant losses. As a result, bots aren’t very useful for inexperienced traders.


  • Requires monitoring

    During instances of significant volatility, crypto trading bots are ineffective. This is because they are dispassionate and unattached to the money, allowing them to trade losses after losses, potentially resulting in a big overall loss.


  • Potential security risks

    Trades are carried out by cryptocurrency bots through the use of application programming interfaces (APIs) (APIs). This indicates that the two machines can work together without the need for manual intervention.

    The centralized nature of exchanges and trading bots, on the other hand, creates considerable dangers.

    Hackers avoid blockchain systems because of their near impenetrable security, but they go for systems that have central servers (like bots and exchanges). Machines that work independently, such as bots, are particularly vulnerable to hacking.

Read:  Teory Paling Ampuh Trading Binary

How to protect yourself from hacks:

Keep your API keys secret

Switch off automated withdrawals

Do your homework – bots are complex tools, you need to read about protection measures, preferences, and trading strategies.


Top 5 Crypto Trading Bots

1. 3Сommas


3Commas is one of the most popular web-based crypto trading bot. As of now, there are currently 220,000 registered users and 26 supported exchanges. The platform’s main priority is user satisfaction, which is why the developers continue to add new innovative features to the bot. 3Commas users are able to track multiple orders on various exchanges and develop informed trading strategies. Recently, 3Commas has collaborated with Binance. This partnership ensures convenient trading conditions through Binance’s distinguished asset management and security infrastructure. Under the broker program, you can create a free Binance account and utilize tools from the 3commas platform. 3Commas now has a Trading Academy – this excellent compilation of resources gives users the tools they need for success. When you purchase the 3Commas Pro version, you will also receive access to a free trading course.  Since our last update about top crypto bots, 3Commas has reduced the price of all of its subscription levels.

Features


  • Automatic trading bots for 18 exchanges

  • Backtesting

  • Portfolio Automation

  • Social Trading

  • Smart Trading

  • ETF-like crypto portfolios

  • GRID bot

  • Options bot

  • DCA bots

1. Functionality– 3Commas comes with an intuitive user interface that is packed with detailed analytics and numerous functions. The bot allows you to set up take profits and stop loss targets as well as craft your own trading strategies.
2. A wide range of tools –In addition to using 3Comma’s performance analytics and automated bots, you can also create, analyze, and back-test portfolios as well as monitor other users’ best-performing portfolios. The bot also allows you to follow and copy successful traders’ strategies.
3. Simultaneous take profit and Stop Loss orders:3Commas enables you to make maximum profit by allowing you to simultaneously establish the price point at which you wish to sell to make a profit and the price point at which you wish to sell in order to stop losses. You can do all these within 3Comma’s SmartTrade terminal.
4. Mobile Apps:The 3Commas team has developed mobile apps for both iOS Android.
5. Advance Order Types:3Commas enables you to set up advanced order types like trailing take-profit and stop-loss orders and contemporary take-profit and stop-loss orders. 3Commas also allows you to set up advanced orders even in exchanges that currently don’t support them. If you’re frustrated by the absence of advanced orders on some exchanges, you can easily create advanced orders by linking your account to 3Commas.
6. Trader’s Diary:Do you want to organize all your trades in one place? Some traders use dedicated accounting software or Excel sheets for this. Conversely, 3Commas has created a trader’s diary which gathers all your trades across exchanges and organizes them in one convenient location.


3Commas Pricing

3Commas price

 1. The Starter Package
($174 per year, or $14.50 per Month with annual payment; $26.10 for monthly payment)


    • Access to Smart Trading terminal (Spot, Margin and Futures – new)

    • Paper Trading

    • Concurrent Take Profit and Stop Loss

    • Access to all available exchanges

    • Notification for cancellations and errors

2. The Advanced package
($294 per year, or $24.50 per Month with annual payment; $44.10 for monthly payment)


    • All Starter Package plus:

    • TradingView Custom Signals

    • Simple bots

    • Single pair DCA bot (new)

    • Short and Long algorithms

    • View and copy bots

3. The Pro Package
($594 per year, or $49.50 per Month with annual payment; $89.10 for monthly payment)


    • All Advanced Package plus:

    • Margin trading bots

    • Composite bots

    • Futures and Margin trading bots (new)

    • Bitmex, Binance Futures, ByBit bot

    • FTX futures bot (new)

    • Multi pair DCA bot (new)

    • GRID Bot

    • Options Bot (new)

    • Futures and Margin trading bots (new)

All plans include


  • afree Binance trader subscription

  • 18 supported exchanges

  • Multi-level referral program

  • Public API

  • All of your crypto accounts in a single portfolio



Platforms


3Commas supports 18 exchanges including:

Binance Poloniex Binance Futures
FTX Huobi OKEx
Bybit KuCoin BitMEX
Gate.io Kraken Bitfinex
Deribit Binance US Bitstamp
Gemini Bittrex Coinbase Pro (GDAX)

Pros and cons

 PROS  CONS

Intuitive and clean interface

Copy-trading feature

Smart Trading feature

Supports many exchanges­­­­­­­­

Cloud-based system

Offers sufficient educational tools

Good marketplace

Offers affiliate program

Not very useful to inexperienced traders


Note:


3 commas offers free 3 days FULL access
and ability to use it for free



Get Your Free 3 Days Full Access on 3Commas

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2. Gunbot

Gunbot (Gunthy) trading bot

Gunbot (also known as Gunthy) boasts of over 6000 active traders. It’s compatible with MAC, Linus, and the Windows platforms and so running it on your computer shouldn’t be an issue.

Gunbot places a huge priority on your privacy – it isn’t a cloud service. Instead, you install software, which collects no data about your usage. Gunbot is currently supported on Windows, Mac, Linux, and ARM.

The software’s latest version does not demand high resources – you can run it on an old laptop or even on a Raspberry Pi. Payments are accepted through Bitcoin, Litecoin, Ethereum, and Dash. Gunbot works on 100+ supported exchanges.

What’s New?

Gunbot’s most recent update added several new features, such as support for Kraken forex trading pairs, a new trading strategy (grid trading for margin/futures exchanges), and full Binance futures support. What’s more, all 100+ of the CCXT’s spot trading exchanges are now supported.

The prices have not changed since our last review.

Features

Main Features


  • Inbuilt Trading Strategies

  • 15 Buy and Sell Methods

  • Confirming Indicators

  • Additional trailing

  • Telegram Integration

  • Dollar Cost Averaging

  • Reversal Trading

  • Balance Options

  • Backtesting Add-on

  • TradingView Add-on

  • AutoConfig tools


  1. Inbuilt trading strategies: Gunbot comes with numerous inbuilt trading strategies that include Step Gain, Gain, Ping Pong, and Bollinger Bands. Many users report that BB is the most profitable strategy.

  2. Customizable: You can customize the strategies and align them to your trading style.

  3. Lite version: This bot has a Lite version that offers limited features that you can use it to experiment with smaller amounts.

Platforms

This crypto trading bot is compatible with the following major exchanges:

KuCoin Kraken Binance
Bittrex Hitbtc Bitfinex
Cobinhood Bitmex Huobi
CEX.io Poloniex Coinbase Pro
Tradingview

and more exchanges from CCXT library

Gunbot Pricing

Gunbot (Gunthy) price

Gunbot offers four price packages depending on the features you want on the bot. The service is currently offering a 50% discount:


  1. Gunbot – Starter edition
    (0.02 Bitcoin,
    Regular price: 0.04 BTC)

    • For 1 exchange

    • 3 trading strategies

    • Unlimited pairs

    • Switch between exchanges anytime

    • Telegram integration

    • 200 Gunthy tokens

    • Chat & email support

  1. Gunbot – Standard edition
    (0.05 Bitcoin,
    Regular price: 0.10 BTC)

    • All Starter edition
      plus:

    • All trading strategies

    • Cryptosight

    • 500 Gunthy tokens

    • Indicators

    • Additional trailing

    • Margin trading

    • Dollar cost averaging (DCA)

    • Reversal trading

    • AutoConfig

  1. GunBot – Pro edition
    (0.075 Bitcoin,
    Regular price: 0.15 BTC)

    • All Standard edition
      plus:

    • 3 Exchanges included

    • 750 Gunthy tokens

    • Backtesting add-on

  1. GunBot – Ultimate edition
    (0.125 Bitcoin,
    Regular price: 0.25 BTC)

    • All Pro edition
      plus:

    • 5 exchanges included

    • 1250 Gunthy tokens

    • TradingView add-on

Pros and cons

 PROS  CONS

  • Offers multiple trading strategies

  • Easy to use

  • Offer multiple licenses

  • Supports a good number of the large crypto exchanges

  • Relatively expensive

  • There has been of occasional bug reports

[/su_table] [/su_note]

3. CryptoHopper

Cryptohopper trading bot

Cryptohopper is a cloud-based crypto trading bot that works with a wide range of exchanges and coins. Being on the cloud enables easy setup and 24/7 trading.

Crypto Hopper offers speedy automated trading and portfolio management for over 100 cryptocurrencies. The cloud-based bot currently has over 200,000 users.

What’s New?

Cryptohopper recently released its “Cryptohopper+” program, which lets users gain experience points. The more points that are gathered, the more benefits users can earn. For instance, they can get discounts, become a marketplace seller, and earn cashback credits.

Cryptohopper’s pricing model has not changed since our last review.

Features

Main Features

  • Automatic Trading
  • Market Making
  • Mirror Trading
  • Trailing Stops
  • Paper Trading
  • Strategy Designer
  • Backtesting
  • Exchange Arbitrage

  1. Easy set up:
    The bot comes with an intuitive dashboard that only takes about 5 minutes to set up.
  2. External signalers:
    It’s also one of the few bots embedded with external signalers which allows you to subscribe to professional analysts around the globe – the bot receives the signals directly and uses them in their trades.

Platforms

Currently, the bot can integrate with most major exchanges that include:

HitBTC OKEx Bitpanda Pro
KuCoin Bitvavo Binance
Binance.us Coinbase Pro Bittrex
Poloniex Bitfinex Huobi Pro
Kraken

Cryptohopper Pricing

Hopper price

Cryptohopper offers three pricing packages with prices ranging from $19 per month to $99 per month.

  1. Explorer Hopper starter
    – $19/month, or $198,96 per year

    • 80 positions
    • Maximum 2 triggers
    • 15 selected coin maximum
    • Paper trading
  2. Adventure hopper medium
    – $49/month, or $498,96 per year

    • 200 positions
    • 50 selected coin
    • 5 triggers
    • Paper trading
  3. Hero hopper pro
    – $99/month, or $999 per year

    • 500 positions
    • 75 selected coin
    • Technical analysis
    • Maximum 10 triggers

Pros and cons

 PROS  CONS

  • Easy to setup

  • Good marketplace

  • Goon coin and exchange support

  • Insufficient team info



Read Full CryptoHopper Review

4. TradeSanta

TradeSanta trading bot

TradeSanta is a new cloud-based tool but with an already established reputation. Along with supporting basic order types, automated bot can execute more advanced strategies. However, some functionality may take a lot of time to get accustomed to.

Read:  Auto Binary Robot Trading Software

TradeSanta might not have as many features as other entries on this list – however, you can do quite a bit for free, and its services are high-quality. There are 7 exchanges currently supported on TradeSanta, with BitMEX coming soon.

What’s New?

TradeSanta’s pricing for a Basic account has increased since the time of our last review. However, they have lowered the price for their Advanced and Maximum accounts, but removed HitBTC promo package.

TradeSanta has also made some Quality of Life improvements, including stability improvements and increased site speed. The bot is now available in Russian.

And we have moved the bot to the 4th place.

Features

Main Features

  • GRID
  • DCA
  • Extra Orders
  • Long and Short Strategies
  • Technical Indicators
  • Stop Loss

Automated options on TradeSanta include:

  • Long bot template
    – when you expect the asset value to rise.
  • Short bot template
    – when the price is projected to fall.
  • Custom template
    – you have the freedom to maximize the bot’s abilities with custom tools.

Additionally, TradeSanta offers technical indicators (including Trade filter, Volume filter, and Bollinger signal), an extra orders feature, buying coins for a commission, etc. You can also set the bot to enter trades at the market prices, buy more of the asset as the market goes against a position and much more.

TradeSanta Pricing

TradeSanta new prices

TradeSanta offers four tiers of pricing:

  • Minimum for free
    – Aside from providing only two bots, other features are included in the plan
  • Basic for $14/month (
    when purchased annually
    )
    – Gives you access to 49 bots. Before purchasing, you can sign up for a three day trial
  • Advanced for $20/month (
    when purchased annually
    )
    – Gives you access to 99 bots
  • Maximum for $30/month (
    when purchased annually
    )
    – Unlimited functionality, including all bots.

The bot connects to several of the biggest crypto exchanges, including HitBTC, Binance, Bitfinex, Bittrex, Huobi, etc. It doesn’t have the most extensive range, but users are promised that more will be added in the future.

Pros and cons

 PROS  CONS

  • Lots of automated trading options

  • Intuitive interface

  • No trading fees

  • Reliable security measures

  • Only suitable for trusted strategies

  • Few firsthand users

  • Sluggish customer support



Read Full TradeSanta Review

5. BitUniverse/Pionex

bituniverse pionex crypto trading bot

BitUniverse and Pionex have partnered up to provide the “ultimate trading experience” to its users. Because of this collaboration, Pionex users can use BitUniverse’s Trailing Take Profit Bot and Grid Trading Bot. BitUniverse users can log into their account on the Pionex platform.

What’s New?

We did not include BitUniverse or Pionex in our previous list of the best crypto bots. However, due to their collaboration and increased benefits, we now believe that they deserve a 5th spot.

Features

BitUniverse offers:

  • 22+ supported exchanges
  • GRID
  • Realtime coin tickers
  • AI advisor
  • Backtesting scanner & volatility factor
  • Auto portfolio tracker

Poinex offers:

  • GRID
  • Infinity Grids
  • Leveraged Grid
  • Margin Grid
  • Reverse Grid
  • Leveraged Reverse Grid
  • DCA
  • Trailing Take Profit
  • TWAP
  • Liquidity Aggregated Engine

BitUniverse/Pionex Pricing

bituniverse pionex trading bot prices

We couldn’t find a subscription price scheme on the BitUniverse or the Pionex website. There is a 0.05% commission fee associated with Pionex and a 0.08% one with BitUniverse.

Pros and cons

Coming soon…



Read Full Pionex Review

Outsiders

1.  Tradewave


The Tradewave bot has been discontinued

tradewave trading bot

Tradewave was not a traditional trading bot. It’s was a platform that allowed you to create your own trading bot and have it automatically trade for you in exchanges. The platform was shutdown in 2017.

Features

  1. Cloud-based:
    This platform used Python, and it allowed you to code on your browser and have the bot run on the cloud. This means that you didn’t have to worry about downtime and your computer didn’t have to be plugged to the internet all the time.
  2. Shared trading strategies:
    Another great thing about Tradewave is that there were trading strategies shared in its community that you could try out.

Platforms

Tradewave supports

  • Bitstamp
  • BTC-E.

Tradewave Pricing

  • It cost 19.99 per month

Pros and cons

 PROS  CONS

  • Free back testing

  • Simplified coding

  • Limited free version

2.  USI Tech


USI was banned in the United States and Canada after a cease-and-desist order against the company

USI Tech trading bot

USI Tech is a Forex trading bot that also offers cryptocurrency trading packages. Unlike most trading bots that need installation and set up, USI TECH’s approach to trading is different. As a user, you have no control of the bot. Instead, you pay for an expert cryptocurrency trader, and then USI TECH guarantees you daily profit from the trades.

USI Tech Pricing

You can opt for your preferred investment plan from which will then earn you about 1 percent of your capital daily.

Pros and cons

 PROS  CONS

  • Easy to use

  • Offers affiliate program

  • Newbie friendly

  • Results not guaranteed


Our Methodology for Finding the Best Automated Cryptocurrency Platform

We examined a large number of cryptocurrency trading bots during the research portion of this article. To keep our data objective, we established a set of strict guidelines. A bot could only be included on this list if it met various criteria, including team reputation, help and guides, general bot functionality, price, and reviews.



  1. Reputation of the team


The bot development teams had to have a strong reputation in the trading community. We looked at the following information when evaluating each bot’s team:

  • Each team member’s degrees and other qualifications
  • Companies for which the team members have worked
  • The source of startup funding
  • Incorporation country
  • Transparency within the team


  1. Guidance & Support


One factor to evaluate was the level of help provided by the team to the bot’s users. Were there any ways to get in touch with someone for help? Would they be able to help with bugs in a matter of days or weeks? It’s vital to be able to seek help promptly when using a bitcoin trading bot as a critical aspect of your trading strategy. We looked at the following to see if the team was appropriately supportive:

  • Is there a vibrant Discord or Telegram community where the team may be found?
  • Is it possible to communicate with the team via numerous channels?
  • Is the customer service crew responsive?
  • Is there a regular update to the discussion forums from the team?


  1. Bot Features in General


While it isn’t required to employ a crypto trading bot with a slew of extras, there are a few key characteristics we’d want to see:

  • Backtesting
  • Strategy Implementation
  • Execution
  • Job Scheduler
  • AI Algorithms


  1. Artificial Intelligence Trading Bot


AI algorithms were the last feature on the list. What is the benefit of this, and how does it vary from a bot? Without a doubt. Traditional crypto bot strategies are less dynamic than AI strategies.

An AI bot can evaluate and understand data using deep machine learning, which allows it to alter its algorithms to react to new data. While AI features aren’t required for your crypto bot to function, they might be a wonderful method to relieve you of some of the analytical responsibilities.



  1. Costs


The amount of money you can put into your portfolio is reduced if you utilize a pricey crypto trading bot. We’re not suggesting you shouldn’t use a costly bot, but you should consider the benefits against the cost. A $1,000 bot will almost certainly deplete your investment fund. As a result, we looked for bots that could give high-quality services while also being affordable.


6. Ease of Use

Many crypto bots are way too complex for a beginner trader to use. We have only included bots that can fit multiple comfort levels – they provide necessary core features while also being user-intuitive.



  1. Reviews


Real user feedback is one of the finest methods to determine whether a crypto trading bot is worth its salt. We looked through bitcoin review forums and more general review sites like Trustpilot. The majority of a crypto bot’s users has to be satisfied in order for it to enter our list.


When it comes to choosing a cryptocurrency trading bot, there are a few things to keep in mind.

When contemplating a bitcoin trading bot, there are a few crucial features to bear in mind. When investigating bots, you may come across these functions, thus it’s crucial to know what they all signify.

DCA Bots

DCA bots (dollar cost averaging) employ the DCA method, which is investing in an asset at regular intervals. This lowers the entry price over time, allowing the trader to obtain a more suitable average price for their position and, as a result, lowering the risks associated with local price fluctuations.

Let’s take a look at a real-life scenario. Let’s say you put $1,000 per month into an asset for five months in a row. If the asset’s prices were $95, $80, $70, $90, and $100 at the end of each month, the asset’s average price would be $85.5. You would have paid $100 each share if you had invested the complete sum at the start. DCA Bots can help you save money by automating this procedure.

Options Bots

Options are high-risk financial instruments that can be tricky to master – thankfully, options bots make it easier. To learn more about how Options work, check out our

comprehensive blog post

on the subject.

Read:  Trading Binary in Out Goes Out

GRID Bots

A GRID crypto bot functions similarly to a DCA bot. If the price goes in the opposite direction, the bot will place further buy orders. The main distinction between the two bots is that a GRID bot places a separate take profit order for each buy order, whereas a DCA bot places a single take profit order for all buy orders.

Some crypto bots have social trading features. When a trader uses a social trading strategy, they will observe the trading behavior of expert traders and peers and then follow along. Bots that have social trading hardcoded in will automate this process.

Marketplace

Some crypto bots have marketplaces where users can buy and sell trading strategies and signals.

Backtesting

Backtesting features in cryptocurrency bots will use previous data to reconstruct trades that would have occurred in the past. The end result will provide statistics for traders to evaluate the effectiveness of various trading techniques. The fundamental premise is that an approach that has succeeded in the past would almost certainly work again. Crypto bots that have been backtested will perform the analysis so that the trader does not have to.

Trading Securities

Stocks and bonds that will be bought and sold to generate money in the near term are known as trading securities. Because these are fast-moving investments, having a bot to keep track of them is beneficial, especially since they are frequently exchanged on a daily basis.

Stop Loss and Take Profit with Trailing

The use of a trailing stop loss might save you a lot of money by allowing you to profit even if your trading position doesn’t quite reach your profit target. It could be thought of as a safety net. Consider the following scenario: you have a 3 percent arm trailing stop-loss and a 1 percent trailing stop-loss percentage. If your transaction reached a high of +3.5 percent and then declined by 1%, the bot will sell it at +2.5 percent. Instead of taking a loss if it had declined any further, you have now gained a 2.5 percent profit.

Intraday Trading

Intraday transactions are securities that are exchanged within the market’s regular business hours. Day traders who wish to execute multiple trades in a single session need to know about intraday price changes. Trading bots for day trading might assist you automate this procedure.

Scalping

Scalping is a low-risk trading practice that is utilized to make quick money. A bot with scalping capabilities will keep a close eye on the price of a specific asset and take advantage of price swings. Before acting, a scalping cryptocurrency bot will take into account three primary factors: the Relative Strength Index, support and resistance levels, and the moving average.

Types of Cryptocurrency Trading Bots and Strategies

When researching crypto trade bots, you might come across several strategies again and again, such as:

  • Mean Reversion:
    A strategy that assumes that if a price moves away from its average, it will eventually return. If a bot is programmed using the mean reversion strategy, an asset will be sold in bulk if the price rises. If the asset’s price falls, it will be amassed as much as feasible.
  • Momentum Trading:
    When a crypto trading bot employs this approach, it will ride the market’s positive momentum wave — and then sell your assets as soon as it begins to reverse. This method relies heavily on timing, which is why deploying a crypto bot can be so advantageous. If you’re unavailable when the momentum shifts, the bot can handle the buy-in and sell-off for you.
  • Arbitrage:
    Asset prices might differ from one exchange to the next, and even a small discrepancy can be exploited. A bot can purchase and sell crypto on many exchanges at the same time utilizing the arbitrage approach. The price discrepancies will result in a profit, which will compound over time.
  • Coin Lending:
    If you use this technique, you’ll lend coins to margin traders, who will then repay them with a percentage of interest.
  • Machine learning:Can be used by a crypto trading bot to determine the probability of a specific event. When you feed the bot data over time, it can figure out the best moments to enter and quit.
  • Natural Language Processing:
    The price of a bitcoin asset can change in response to news stories, tweets, and other types of internet content. NLP programming is used by certain bots to interpret news items and read trends. It then employs its interpretation to begin amassing assets at opportune times.

Top 4 Trading Bots

#Rank Bot Price Integrations
#1

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#2

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from 0.02 BTC
#3

Cryptohopper

from $16.58 / month
#4

TradeSanta

from $14 Month

FAQ on Bitcoin and Crypto Algorithmic Trading

Many of our blog readers have questions regarding crypto trading bots, so we’ll answer the most common ones here.

Are Trading Bots Legal?

Trading bots for cryptocurrency are completely legal; however, not all brokers allow bot trading.

Each jurisdiction approaches the legality of digital currency and transactions in a different way. Various jurisdictions see digital money as a means of payment or, more broadly, as a medium of trade in this regard.

➤ Read more about cryptocurrency tax laws.

Do Cryptocurrency Bots Work?

Rather from being magical cure-alls, cryptocurrency bots are trading instruments. You must be knowledgeable with several trading methods in order to see good returns. Bot trading isn’t a “set it and forget it” type of business.

Cryptobots, on the other hand, can be a good approach to make time-efficient trades on a 24-hour basis if you are experienced with cryptocurrency trading, have a stack of crypto, and understand lucrative strategies.

➤ Get Your Free 3 Days Full Access on 3Commas bot

What Is the Best Bitcoin Robot?

While there are many Bitcoin bots that do a sufficient job of managing your assets, you can check out our

Top Bots

page to see the ones that are the best performing.

The list is updated every 24 hours, and you can see information about each bot, such as their profit per day, the number of days running, deals, whether Stop Loss is enabled, and when the bot was last edited. Now, which ones do we think are best? Keep reading to find out – we’ll give you a list of our top picks.

Is Crypto Trading Still Profitable?

What Are Telegram Cryptobots?

A Telegram cryptobot can use an application programming interface (API) to interact with your trading account and place, buy, and sell orders for you. The following are some of the benefits of using Telegram crypto bots in conjunction with a crypto signals group:


  • More trading options are available.
    This type of chance can arise at any time, including when you are working or asleep. When you employ a Telegram crypto bot, it can automatically follow trades that your signal group releases, even if you are not accessible.

  • Execution of trades is simplified.
    When manually placing a trade, there is always the risk of entering or exiting the deal at the incorrect price points. This could cut into your profits or even cause you to lose money. You don’t have to worry about that when you use a Telegram crypto bot because you select the buy and sell price points before initiating the trades. The accuracy of trade execution will improve dramatically.

➤ Check out the
3Commas trading signals marketplace
to find your best one.

Conclusion

Cryptocurrency trading bots are essential trading instruments. Your bot can be your best trading tool if you can alter their parameters and build efficient trading strategy.

However, some bots are unreliable or blatant scams, so you should conduct due research before purchasing one. To ensure that you choose a trustworthy and reliable crypto trading bot, read reviews and do your study.



Get Your Free 3 Days Full Access on 3Commas

Disclaimer

The contents of this article are not intended to be financial advice and should not be treated as such. 3Commas and its authors do not take any responsibility for your profits or losses after you read this article. The info contained herein is based on data that was gathered from a variety of sources. This should not be used as a parameter for investing. The user must do their own independent research to make informed decisions regarding their crypto investments.

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Source: https://3commas.io/blog/best-crypto-trading-bot

Posted by: derivbinary.com