Trading crypto previously required extensive training and regular practice, but with the recent advancement of blockchain technology through the introduction of bots allows anyone with little or no trading knowledge to trade crypto with crypto trading bot.
Not all crypto trading bots are suitable for new traders; some are employed by seasoned traders. Select the bot that matches your level of expertise. This decision may be difficult to make; that is why you have this article as a guide.
What is a crypto trading bot?
Bots carry out previously agreed-upon activities automatically. The main objective of a bot is maximizing profit while minimizing loss. Crypto trading bot make it simpler to trade cryptocurrencies.
Trading one or more cryptocurrencies on a platform is a task that cryptocurrency trading bots carry out on behalf of the owner. In order to maximize trading earnings, cryptocurrency trading bots help with timing the purchase of cryptocurrencies.
The best crypto trading bot
The trading bots of this century are multi-taskers since they are equipped with advanced technology. This advanced technology is used in conjunction with strategies and tactics to forecast helpful indicators about the cryptocurrency market. They draw a conclusion, and the exactness of the prediction matters a lot.
The top bots gather data from a range of websites, including fresh content and other relevant websites. For this reason, they employ artificial intelligence (AI) and machine language to determine what is having an impact and how it will affect the market rate.
Although the bots are programmed to reduce loss rates, losses still happen. Nonetheless, the best bots perform best when combined with human effort.
The best trading bots for cryptocurrencies
3Commas
Traders may access 18 cryptocurrency exchanges using 3commas. It is committed to helping traders maximize profits while avoiding losses. It is a well-liked tool among traders due to its integration with numerous exchanges and the lack of need for further software installation.
There are numerous ways to use commas. They can be adjusted to fit any market structure as well as the trader’s requirements. This tool can be made and adjusted by traders to their preferences. Among the trading tactics that 3Commas can use are Grid, HODL bots, and SmartTrades.
Features:
- Your preferences determine whether 3Comma Bot buys or sells.
- Profile tracking and management made simple
- analyzes trade performance.
- The systems are operational and supported round-the-clock.
- For user education, educational resources are made available.
- It’s helpful to read the question and answer part.
- Beginners will have no trouble using it.
- It comes with a wallet app.
Price
Basic package with unlimited access, including monthly subscriptions
Pionex
It is perfect for both beginning and seasoned traders. Pionex offers 12 trading bots without charge, with a minimum trading cost of 0.05%. It helps you make money by making deals on your behalf.
Features:
- The maker and traders are subject to a very minimal 0.05% trading fee.
- 12 trading bots are offered without charge.
- With the help of Grid Bot, you can sell when the market is high and buy when the market is low.
- The grid bot offers a 5x benefit.
- The user does not need to often check the market because trading is available 24/7.
CoinRule
This bot is best suited for mobile use. This cloud-based trading platform was developed in 2017. You can trade on a number of cryptocurrency exchanges with the aid of CoinRule.
Features:
- The pro version includes access to 150+ templates.
- Customer service.
- Mobile friendly
- 24/7 availability
CryptoHopper
It is one of the best bots for both inexperienced and seasoned traders. It is a cloud-based bitcoin trading bot that uses analysis and accepts outside input.
Features:
- Trading 24/7
- This bot includes tools for back-testing.
- 30 indicators
- Neither a PC application nor a mobile one because it is cloud-based and only on the web.
- Users can develop custom technical analysis (TA).
- Data privacy.
TradeSanta
Trading software works all day, nonstop, so you don’t have to always be active to trade. You may effortlessly manage risk with TradeSanta.
Additionally, you can observe your profit objective and automatically close the transaction at the set time.
Like other trading bots, you connect it to different exchanges.
Features:
- Grid and DCA bots
- The indicators to employ are Bollinger Bands, MACD, and RSI.
- 24/7 customer service.
- Sports and futures trading
Price
A 5-day trial period and two bots on the free plan are promised before subscription.
Exchanges: Binance, BitMEX, UPbit, and Bitfinex.
Shrimpy
It is perfect for copy trading, having automated trading techniques that boost revenue and reduce risk. Shrimpy is great for portfolio management, performance monitoring, and value tracking.
This application can track your portfolios across various exchanges, all from one place.
You can examine your portfolio and balance it with the accounts you are following by selecting the automated option. You can also trade by imitating other traders while using Shrimpy.
Features:
- Backtesting
- Web operated
- It may adjust your investment portfolio.
- You can see the current market price.
Price
$15 per month for a subscription.
Zignaly
This software permits the creation of custom bot tactics and duplicate trading options. Beginners and seasoned traders alike can use it. However, It is a fantastic option for a novice crypto trader.
Only Binance and nine other exchanges are supported by this bot exchange connection.
Features:
- It enables new traders to mimic experienced ones.
- Cost-free.
- DCA bot.
- Technical analysis is not allowed, although TradingView integration is.
eToro
You can learn from other cryptocurrency traders on eToro. Based on the agreement, you can imitate cryptocurrency traders either for free or at a certain cost.
Viewing the traders’ feeds gives you access to their portfolios, profits, and other important data.
There isn’t a dedicated bot software for it, and you can’t use bots to trade on eToro, but you can utilize eToroX.
Features:
- It is simple because you imitate other traders.
- access to knowledge from several investors.
Crypto Trading Bots: Are They Profitable?
Trading bots is profitable; you only need to know how it works. To check for functionality, test them before buying them.
A preventive practice is understanding how it operates.
Conclusion
The effectiveness of bots for trading cryptocurrencies and other digital assets has been thoroughly examined. Use trading bots to save time.
Do your research alongside the information gotten from this article and ensure you get the best bot that suits your preferences.
