Also, traders must be careful not to miss out on important deals because the market is changing. They must thus figure out a mechanism to monitor the market as a result. Traders require assistance since they cannot react immediately enough to capitalize on price movements that will enable them to execute optimal trades. Crypto trading bots must stay up all day and be prepared to trade at any time in order to make the greatest transactions.
Furthermore, due to downtimes in various trading exchanges and transaction times, some traders may miss out on good deals. Traders increasingly employ crypto trading bots as a remedy for these problems.
This post will explain what crypto trading bots are, their benefits and drawbacks, how they operate, and some of our favorite ones. Timing is everything when it comes to making money in the incredibly unpredictable cryptocurrency market, along with having access to reliable trading methods and technical research. Because there are hundreds of assets to choose from and markets are open 24 hours a day, 7 days a week, the learning curve for new crypto trading bots is much steeper, and the risk of loss is often much greater. After taking all the steps needed to use a bot, some traders find that they no longer want to use the service. Here are some bots you can use with the exchanges they support to make your transactions more efficient and save time.
15 Best Crypto Trading Bots for Automated Trading in 2022
These factors have made crypto trading bots and software platforms crucial for many traders. You may make transactions at any time of day by using software to trade automatically for you, and many crypto trading bots even offer capabilities that let you create and improve your own trading strategy. Without you realizing it, you’re probably already trading against bots in the extremely unpredictable crypto market. First, we’ll go over an elevated review of the most important qualities to be careful of when comparing various crypto trading bots, tools, and platforms. This article then includes a full breakdown of the top crypto trading bots and the distinctive benefits each provides.
Do you really need to utilize crypto trading bots? What exactly is one?
Any automated trading system is built on a set of rules that tell it when to buy and when to sell. Since the 1980s, bots have been used in the conventional stock market to choose index funds and diversify portfolios. These bots take over tasks that investors used to do by hand. This can save investors time, which is important in the fast-paced crypto market. Then there are the technical trading bots, which forecast price changes and place trades in accordance with signals and indicators. These are the crypto trading bots traders use most often as they try to find a way to beat the market and make money.
How do Crypto trading bots function?
Some traders have started using trading bots, while others are still talking about whether or not they should be allowed in the bitcoin market. Each bot has a unique set of hardware and software needs. While some bots are free to operate, others require a substantial subscription charge. Typically, after finding a bot that will be beneficial to them, traders will download a code from the creator of the bot. Following the instructions, the trader will now set up their bot on the exchange they choose to use.
Even though trading bots might be useful, you still need to make decisions about when to purchase and sell. A crypto trading bot is not a quick way to make money. It’s not a tool that, once you have it, will guarantee success in every trade you make. To be successful in your trade, you must still work hard and invest the necessary time, effort, and expertise.
Features of crypto trading bots
All of the trading bots on our list have gotten good reviews from many websites and crypto trading groups, but nothing beats actually using the product yourself. The majority of the programs and websites on this list offer free trials but check first.
You might desire the option to follow other traders and other common techniques used with the program in addition to creating your own trading strategy. Profitable trade methods may be accessed easily and affordably if your trading instrument of choice has a solid strategy marketplace built in.
By backtesting trading techniques against historical data, you may determine how well your algorithm or trading strategy would have done in the actual market. Naturally, you want to be able to use backtesting tools that provide the most accurate simulations, which calls for taking slippage and latency into consideration. This means that the accuracy of the backtesting tool is only as good as the sources of historical data it uses. You should also look for a trading community that is active and shares backtesting setups on community forums.
Portfolio automation is a feature that many trading systems provide, so it’s crucial to take this into account while using them. It is impossible to keep an accurate index of every currency being traded in the crypto market, unlike with equities and other financial instruments. So, a good trading bot should have instructions that explain which currencies are sampled and how market caps are used to weigh the index.
Coinrule is one of the most popular bots you can use because it has the most set trading strategies. Customers can make their investments fit their needs by choosing from more than 150 trading templates. These templates are automatically used when certain market conditions are met. Coinrule regularly adds new templates to its platform, such as ones for accumulating, setting stop-loss levels, and holding for a long time.
The number of templates available with both free and premium plans varies according to the plan you choose. Even though the free plan only gives you access to 7 free template strategies, the paid plan gives you access to advanced charting tools, you can use any template you want, and you can even get one-on-one trading training and courses.
HitBTC, BitMEX, Liquid, Okex, Binance US, Poloniex, BitMEX, Coinbase Pro, Bitstamp, Bittrex, Poloniex, Binance, and Bitfinex.
WunderTrading is a crypto automation platform featuring mirror trading and crypto portfolio management capabilities. TradingView PineScript lets users build fully self-sufficient trading bots for bitcoin, make money by passively watching other traders, or trade manually using the advanced Trading Terminal. WunderTrading stands out from its rivals thanks to the wide variety of trading options it offers.
On the WunderTrading platform, you may use the trailing-stop and even swing-trade features. To enhance your trading tactics, you may also employ more sophisticated trading tools like take-profit and stop-loss. You can add a wide range of trading algorithms and technical indicators to your bots with the TradingView integration. They may also leverage their unique built-in terminals to create DCA and spread strategies. You may manage several exchange accounts with WunderTrading from a single dashboard. You may replicate trades across all accounts with a single click after adding your exchange accounts through the API. In order for traders to monitor profits and execute trades more successfully, the platform offers comprehensive information that is calculated and shown on the Dashboard.
The team of qualified quants at Napbots has made it possible to use automated crypto trading methods. Allow strategies to do the task, and keep an eye on everything via your dashboard. One of the first sites of its sort, it provides users with access to crypto trading techniques created by a team of inside specialists. Users have access to all information regarding tactics, how they operate, and their performance thanks to Napbots’ comprehensive platform and helpful material. To provide you with the hedging you require, Napbots’ automated trading methods and indices combine years of experience with AI and machine learning. You can access a variety of tactics thanks to it:
Hourly, daily, weekly, or long-only transactions
Simply connect your exchange(s) with API keys, then select your strategy. Now that everything has been finished, enjoy accurate reporting and let strategies do the work. Binance, Kraken, FTX, and Bitfinex all provide Napbots. The price appears to be reasonable: free for trading budgets under $200; €2 for every $100 allocated (maximum monthly charge of €500); thereafter. Still unsure? Enjoy the free 15-day trial to learn about Napbots.
Bitsgap is one of the best bitcoin trading bots because it makes it easy to keep track of your crypto assets and lets you build a bot plan quickly. This technology may examine up to 10,000 crypto pairings per day, which can then identify the currencies with the most potential. You can use Bitsgap by downloading it, viewing your trading through a chart, and testing settings before trading.
Bittrex, Kucoin, Livecoin, CEX.IO, Poloniex, Huobi, Bitstamp, Liquid, Gemini, Bit-Z, Yobit, DDEX, HitBTC, Bithump, Bitfinex, Bibox, Exmo, OKEX, BigOne, Binance, and Kraken.
One of the most sophisticated trading bots available is called Gunbot. Since its debut in 2016, it has steadily added functionality and received upgrades, transforming it into a dependable piece of software that completely automates the crypto trading requirements of more than 25,000 active customers. Gunbot is simple to use, quick to set up and includes a wide variety of customizable strategies for all different types of traders and risk profiles.
You may also get free, effective “plug & play” solutions in their marketplace. Gunbot routinely holds tournaments, giving its customers the chance to make some additional money on the side. For only $9.99, you can start trading with Gunbot. Gunbot is different from many of its competitors in that it is a one-time purchase instead of a monthly membership.
Binance US, Bittrex, Coinex, Bitmex, Bitfinex, Bitmex Testnet, Coinbase Pro, HitBTC, Huobi Global, OKEx, OKCoin, Bitstamp, KuCoin, Poloniex, Cex, Bithumb, Kraken, and more than 100 more.
You get free access to 12 different training bots on Pionex, a crypto exchange with built-in trading bots. With these trading bots, you can automate your trading strategy, so you don’t have to keep an eye on the market as often. For traders who are on the go and do a lot of business, this instrument is a great choice. Even though it lets people trade using crypto-to-crypto conversions, trading bots are Pionex’s main product. This bot carries out traders’ buy and sells orders without any help from a person and in response to market conditions that have already been set.
A maker-taker fee structure is used by Pionex. In other words, you only pay when your placed trades “create” the market with liquidity while also “taking” liquidity away from the market. If your transaction is not immediately matched by standing order in the books, you must pay the maker charge. You are required to pay the taker charge if your order is matched.
Pionex, Huobi Global, and Binance
A cloud-based trading bot named Tradesanta can help you save time by carrying out deals on your behalf. It is simple to set up, enables you to automate trading on many exchanges, and lets you select your favorite settings when building a bot. You may construct as many bots as you’d like to use Tradesanta to grow your trading. Additionally, it works with most of the current bitcoin exchanges.
HitBTC, Bittrex, Huobi, BitMEX, Bitfinex, OKEx, UPbit, and Binance are a few examples of exchanges.
This is a crypto trading bot that does all of its operations in the cloud. In this way, it can help you find short periods of downtime that would have caused you to lose money. Also, the bot never goes offline, and it never stops your transactions or freezes your account when it updates. Your Cryptohopper account will continue to function even if you are not online. To set up this bot, you don’t need to install a platform or give your credit card information.
KuCoin, Binance, HitBTC, Bittrex, Bitfinex, Poloniex, Okex, Bitvavo, Bitpanda Pro, Huobi, and Poloniex.
With the help of this tool, you can automate your crypto trading bots and save time. Using this software, which doesn’t require you to know how to code, you can design and manage trading robots that execute trades based on your strategy. Botcrypto is a free bot trading platform that offers visual editing and round-the-clock assistance.
Binance and Kraken both accept Botcrypto.
A cutting-edge, simple-to-use bitcoin trading bot was developed to assist you in creating sophisticated automated trading indicators and algorithms. You can use AAxioncrypto’s bot on different crypto exchanges and create your own strategies using the Code Editor or builder.
The cost each month ranges from $15 to $90. With this tool, you can monitor and manage bespoke trades, backtest new trading ideas and methods, and send signals directly using the manual system or the trading view. The bots use a secure business network that lets them work without having to download and set up a platform.
Binance, Altrady, FTX, Bybit, Kraken, and KuCoin are some of the exchanges.
One of the greatest bitcoin bots available lets you build a strategy using more than 20 distinct trading indicators, which helps you improve profits. You can purchase and sell using a single window with 3 commas, decrease risks and losses, and duplicate the settings of other bots. With this software, it’s easy to keep track of your profit and loss ratios and keep your portfolio in balance. This crypto trading bots will let you know about deals through email, a mobile app, and a browser. It is accessible on iOS and Android and provides basic, advanced, and pro plans.
Huobi Global, Binance DEX, Bitfinex, Binance.us, Bybit, Bilance Futures, BitMEX, Bittrex, Coinbase Pro, Gate.io, Cex.io, Exam, Bitstamp, Kraken, Poloniex, OKEx, YoBit, Binance.
This is a platform for anyone who wants to build original, complicated algorithms within an educational, community-driven framework that encourages growth and learning. Trality is one of the most popular trading bot platforms in the world. Both new and experienced crypto investors can use it. Trality includes a tool called Rule Builder that you may use if you know how to build complex trading algorithms. You may construct the logic of your trading strategy using a cutting-edge graphical user interface by simply dragging and dropping indicators and trading strategies.
Expert users who know how to code in Python can use their browser-based Code Editor, which is the most advanced of its kind. Using the Code Editor and their coding expertise, developers can quickly and securely build complex and sophisticated methods. They offer numerous plans, from free to paid.
Binance, Coinbase Pro, Bitpanda, and Kraken are among the exchanges.
This platform is unique because it has a website, a mobile app, and a beautiful user interface. The Cryptohero software is simple to download, doesn’t heat up your phone, uses little memory, and loads quickly. For its users, it provides both a free (basic) and a premium platform. In their mobile app, they feature a straightforward tutorial that traders can use to build their first bot and begin trading. You may check your dashboard for current orders, win/loss ratio, realized profits, and the total number of transactions. The Deals tab is divided into In Process and Completed.
Binance, Kraken, and Kucoin exchanges.
Hodlbot is one of the best bots for trading cryptocurrencies. It has a simple interface for managing your transactions. With the help of this program, you can quickly tailor your portfolio to suit your needs and establish a portfolio with more than 350 coins. You can simply rebalance your portfolio with this bot, and the cost each month is just $3. Your portfolio is automatically kept on track by this crypto trading bots. This bot assists you in doing marketing campaigns with less effort and encrypts your data using SHA-256.
Binance, Kraken, KuCoin, and Bittrex are among the exchanges.
This bitcoin trading bot helps with backtesting, deployment, and figuring out how to trade tactically. The Streak bot is appropriate for retail traders and doesn’t require any coding knowledge. This bot is an easy-to-use trading tool that is based on an algorithm and helps traders make smart bitcoin deals. It helps you decide when to enter and leave the market by keeping track of how the market is moving for traders.
Streak has a seven-day free trial period.
Binance, Deribit, HITBTC, Okex, Huobi, Kraken, Coinbase Pro, Coinbase, ZB, and BitMEX are a few examples of exchanges.
It has become simpler for traders to use crypto trading bots to improve their trading approach as the crypto market receives more attention. Even though crypto trading bots might help with transactions and let traders profit from price differences between exchanges, they are still not a substitute for a good trading strategy.