Because they are intelligent, automated, and data-driven, cryptocurrency trading bots have the potential to outperform human traders. It is the job of a bot to initiate or close positions on your behalf when it detects a market opportunity.
Trading bots aren’t only for specialists; anybody may use them.
However, things aren’t as simple as they seem. It all depends on the regulations you set and the current market circumstances.
Are you interested in learning how to use a crypto trading bot?
You may check out the best bot for crypto trading.
Best Bot For Crypto Trading
What is Crypto Trading Bot?
If you want to automate the trading of your bitcoin, you may use a cryptocurrency trading bot. If an item hits a certain price or signal, the bot will purchase or sell it for you. This is how most crypto trading apps function. When these price fluctuations occur, your bot takes care of placing and executing your order for you, so you don’t have to keep an eye on your platform all day.
The bot may be programmed to sell a bunch of coins for $20 and then purchase them back at $10, for example. To use the bot’s services, users must pay a monthly or yearly subscription to the bot’s supplier.
The cloud-based trading bot was founded in 2017 by a team in the United Kingdom. Connectivity options include Binance, Huobi, Bitfinex, OKEx, and HitBTC (to name a few). It does not charge a transaction fee for doing so. More than 7,000 trading strategies are available for you to choose from when you use them to develop numerous trading rules based on them.
Users may use TradingView to discuss trading ideas and methods, but it doesn’t offer Technical Analysis (TA). Multi-currency trading is possible with this app.
- RSI (Relative Strength Index), Bollinger Bands, and other indicators.
- E-mail, live telegram chat, and other kinds of support are available.
- Pro version trading templates.
- In addition to the online interface, there are mobile applications for Android and iOS.
3Commas is one of the greatest trading bots for increasing income and minimizing losses and dangers. With this program, you may make money quickly and easily while also creating a trading strategy based on more than 20 different trading indicators.
- Single and Multipair bots are available.
- You may trade around the clock on this site.
- You may use the settings of other bots as a guide for your own.
- Maintaining coin ratios enables you to keep a balanced portfolio.
- Apps, browsers, and emails are all ways that these bitcoin margin trading platforms notify users of new deals.
- To help you make money in both bull and down markets.
- Custom TradingView signals, backtesting, and dollar-cost averaging are all supported features.
- Allows Purchasing and Selling of Paper.
The 16 free trading bots provided by Pionex are enough to win it a position on our list. Pionex’s bots let you earn money by trading bitcoin on your behalf with a 0.05 percent trading fee.
The Grid Trading Bot, for example, is one of the most popular bots on the platform. When it comes to a payment every eight hours, you can count on the arbitrage bot, which uses the future market provided by Binance.
- Makers and takers each pay a fee of 0.05 percent, which is rather reasonable.
- 16 built-in trading bots for free.
- Earn 15-50 percent APR with little risk with the Spot-Futures Arbitrage bot!..
- You may buy cheap and sell high with the Grid trading bot.
- For example, the Leveraged Grid Bot delivers up to five times more leverage.
- The Martingale bot buys DCA and sells once to catch benefit from the volatility.
- A rebalancing bot helps you keep your money in your wallet.
Also Read: 12 best crypto forums
One of the greatest trading bots, TradeSanta, allows you to simply control your risk. With this program, you may choose the trading method that best fits your personality, and you can also set a profit objective and automatically close the trade when it’s time.
- Traders may trade both spots and futures.
- A short and long-term trading plan is no problem for automated trading bots.
- It offers round-the-clock assistance.
- It makes it easy to acquire or sell a significant amount of cryptocurrency without any hassles.
- An extensive library of pre-built templates is available.
- The bot’s location may be seen in real-time.
As a cloud-based crypto trading bot, the CryptoHopper enables users to trade using algorithmic programming and external signals. A total of nine different cryptocurrency exchanges may be linked and used with it, including Coinbase, OKEX, KuCoin, and Binance as well as Kraken and Huobi.
You may use a variety of free and paid signals with it. Over 30 trading indicators and more than 90 candle patterns are used by the Amsterdam-based company. Besides Bitcoin, it trades 75 other cryptocurrencies, including Litecoin, Ethereum, and Zcash.
- Stochastic, RSI, Bollinger Bands, and a slew of additional indicators.
- Backtesting tools for trading bots, templates that can be customized and saved, trailing stops, and technical indicators that can be customized are all examples of trading tools.
- No mobile or desktop applications, just a website.
There are several factors to take into account while searching for the finest crypto trading bot. You’re looking for a trading platform that is less expensive, has the ability to test automated trading techniques, and can handle different indicators and trading methods. Wouldn’t it be nice if you could trade on your phone?
Anyone wondering whether crypto trading bots work can find answers in this lesson, which suggests employing the most effective, lucrative, and time-tested bots. The finest crypto trading bots are those that you may use for free before signing up for a premium subscription or upgrading. Using this method, you may test whether they function.