- 1 Best Crypto Trading Bots – Fully Automated Cryptocurrency Trading
- 1.1 What Is A Crypto Trading Robot?
- 1.2 Reasons To Consider Using A Trading Bot Platform
- 1.3 Advantages Of Trading The Cryptocurrency Markets
- 1.4 Crypto Trading Bot Strategies
- 1.5 Let us now consider some of the Best Crypto Trading Bots in 2021:
- 1.6 Gunbot
- 1.7 Trality
- 1.8 Bitsgap
- 1.9 Cryptohopper
- 1.10 Pionex
- 1.11 3Commas
- 1.12 Shrimpy
- 1.13 HaasOnline
- 1.14 Kryll
- 1.15 Cryptotrader
- 1.16 Mudrex
- 1.17 What Are The Risks Of Crypto Trading Robots?
- 1.18 Conclusion
Best Crypto Trading Bots – Fully Automated Cryptocurrency Trading
As cryptocurrency trading grows in popularity, crypto trading bots continue to garner more interest among many traders. Automated crypto trading platforms provide these trading bots. But what advantages and disadvantages do these trading platforms pose? Should you use them? And if you must use them, which ones are the top ones in the industry you should use?
Several confluence factors have sparked the interest in the use of crypto trading bots and crypto trading platforms. Some of them include improved crypto user experiences and advancing technology. Also, the crypto market never sleeps. The market is open 24/7 and never closes, including weekends.
There is a growing percentage of traders who are now using algorithmic trading systems. Over the last few years, the crypto industry has experienced a remarkable increase in the launching of crypto trading platforms that integrate trading bots in developing trading strategies. They use a user-friendly interface, multiple customization options, and numerous advantages of crypto trading bots to create an automated system that works 24/7. These give crypto traders the ability to create a trading system that is fully automated 24/7 even while they are away from their screens. It gives them an unbiased trading system, and which they can always adjust and refine the way they want.
More Facts About Cryptocurrency Trading Platforms
As mentioned, the last few years have seen several crypto trading platforms spring up, all of which provide both experienced and new traders the opportunity to tap into loads of crypto trading bots. These platforms offer users trading bots to integrate with technical indicators. They design the trading bots to connect with their users’ crypto exchanges using API.
Crypto trading platforms provide many incredible benefits. For instance, they provide traders with the tools to develop their automated strategies to backtest previous market data before implementing it. Many of these trading platforms are designed not only for experienced crypto traders but also for less-experienced crypto traders looking to profit from trading without taking part in trading decisions.
There are provisions for less-experienced traders to copy trades of other experienced traders. Also, crypto trading platforms offer their users social trading. All of these provisions make use of strategies that run on an algorithm. So if you are an experienced active crypto trader or a less professional crypto trader, there are a plethora of options for you to take advantage of and start making consistent income.
What Is A Crypto Trading Robot?
A Crypto trading bot is a software program that automatically executes trades on your behalf according to market data interpretation using an API to interact with your crypto exchange account. A trading bot executes trades based on the pre-set instructions it receives. Once the market conditions and other programmed criteria are fulfilled, it immediately executes the transaction on your behalf.
Developers design crypto trading bots to collect and interpret data analysis. Bots collect and analyze technical analysis signals from technical indicators such as Ichimoku Cloud, Bollinger Bands, and moving averages, with market signals such as time, price, orders, and volume. And also, it combines all of these data with sentimental analysis.
There are tons of automated crypto trading bots that you can buy, subscribe to, or download. What they do is that they allow you to make profits while they automatically trade for you. You can easily link trading bots to your exchange account to take trades automatically. However, trading bots do not allow users to control the strategy used to arrive at either a buy or a sell decision. Because of this limitation, trading bots may not be well-suited for you if you are an advanced crypto trader.
Reasons To Consider Using A Trading Bot Platform
There are a lot of reasons to consider using a crypto trading bot platform. Below are several reasons why you should consider using a trading bot platform.
- Trading bots save you valuable time that you can channel elsewhere.
- A trading bot is always online in the market seeking trading opportunities from which to make a profit.
- When appropriately used, a trading bot can provide you with opportunities to make money from the market. When the market is in a bearish movement, there would be no reason for the bot to keep holding your assets.
- Trading bots rely on an automated algorithmic system. An algorithmic system is unbiased. It means that, unlike humans who allow emotion into trading, trading bots takes away your emotions from your trades.
Advantages Of Trading The Cryptocurrency Markets
The following are some advantages of trading the cryptocurrency markets:
- The market is very volatile. It means that you can easily make money from the market within a short time. Also, you can as equally lose money to the market in a short time too.
- You can quickly start trading with as little as $100.
- Anyone can enter the crypto market without a lot of stress.
- Few limitations prevent a person from joining the cryptocurrency market.
- The crypto market is open 24/7. It never sleeps or closes, unlike the financial market that closes on weekends.
Crypto Trading Bot Strategies
Developers design crypto trading bots in such a way as to allow them to be customized using several trading strategies together with technical indicators and other technical analysis tools. Users can configure them using simple strategies that rely on trend-following and very complex strategies that collect different data, interpret them and execute a trade. You can configure any of the top trading bots using any of the following common strategies.
The trend-following strategy is any strategy that relies on the market trend to look for the directional movement of a particular crypto asset in question. The trading bot aims at making profits by merely following the crypto asset to go up each time it goes up and go down each time the crypto asset goes down.
This strategy focuses on taking advantage of the differences in the price of a particular crypto asset across several crypto exchanges. Prices can vary in the crypto market since the market is still evolving. However, as the market continues to grow, the chances of arbitrage opportunities keep reducing.
This strategy focuses on taking advantage of the spread between the prices of buy orders and the prices of sell orders of a particular asset by continually buying and selling the asset. That means the trading bot takes orders on both sides as prices fluctuate up and down.
This strategy aims at copying the trades of other experienced and successful traders. This strategy can allow you to automatically copy the trades of other traders who appear on a leaderboard. So there is a social community and a leaderboard where traders are ranked based on their trading performances. At the click of a button, you can automatically copy the trade of other traders.
But what are some of the top crypto trading platforms?
Let us now consider some of the Best Crypto Trading Bots in 2021:
Gunbot is the oldest crypto trading bot. It was launched in 2016, and it remains one of the best crypto trading bots suitable for both experienced crypto traders and new crypto traders alike. Of all the crypto trading bots on this list, Gunbot ranks among the most popular ones, having over 7000 users. And its community of users continues to grow exponentially.
If you are a new crypto trader, you do not have to worry too much, as things have been made easier for you. Gunbot has 14 pre-coded trading strategies that allow new traders to choose the pairs they want to trade and enable the system to do the rest.
For more experienced traders, Gunbot allows them to easily customize or adjust the pre-coded trading strategies according to their trading style or preference. The system also allows them to create a custom trading strategy from scratch to enable the system to take the same trades they would ordinarily take by themselves. Gunbot user interface is friendly too. It allows users to have a sort of preview of their buy and sell points before executing a trade.
There are additional features or add-ons such as Bitrage, a bot that hunts for arbitrage opportunities and carries out triangular arbitrage within one exchange. A case example is when you have 200USDT. The arbitrage bot will then hunt for triangular arbitrage opportunities such as buying BTC worth 200USDT, then using the BTC to buy NEO, and buying back the USDT, thereby leaving you with a total of over 200USDT (i.e., a net profit from the transactions). Aside from the Bitrage bot as an add-on, there are other add-ons such as Backtesting, Tradingview, Market Maker, et al.
There are four pricing packages that Gunbot offers, together with a lifetime license for each.
Starter Package: This package costs 0.01 BTC
Standard Package: This package costs 0.025 BTC
Pro Package: The pro package costs 0.0375 BTC (MOST POPULAR!)
Ultimate Package: This one costs 0.0625 BTC
Each package differs from the other in terms of the number of exchanges to which users can simultaneously have trading access. They also differ as regards the number of built-in add-ons that come with them. You can always buy additional add-ons if you want to.
If you are looking for a crypto trading platform that allows you to keep your day job and yet partake in algorithmic crypto trading, Trality provides you with the perfect choice. Although the platform was founded in 2019 (less than 3years ago), interest in it is relatively high, and the interest keeps growing among many crypto enthusiasts. It is suitable for both experienced traders and beginner traders. Trality aims to bridge the gap between professional trading and private trading by providing its users with access to crypto trading bots to help them execute algorithmic trades that are emotionless and unbiased.
Trality has tools that allow you to create your trading bot and has a backtesting feature that allows you to backtest your strategy to ascertain the level of its performance on past data. That way, you can understand the associated trading risks of the strategy.
Trality Rule Builder
Trality Rule Builder allows you to come up with your trading algorithm without first learning anything about coding. The graphic interface enables you to customize your system based on Boolean logic. You only have to drag and drop the technical indicators you want.
Python Code Editor
Trality also provides you with an in-browser python code editor that allows you to create your trading algorithm or crypto trading bot using programming codes. This option requires advanced knowledge of the Python programming language. So it is suitable for you if you already know how to code using the Python programming language.
There are four different pricing plans that Trality offers its users. Each of the four pricing packages differs from the other in terms of log retention, tick interval, number of crypto trading bots, and maximum monthly trading volume.
Pawn Plan: This plan is free, and it provides you with a maximum monthly volume of 5.000€, one virtual bot, and one live bot.
Knight Plan: This plan costs 9.99€. It provides you with a maximum monthly trading volume of 25.000€. Also, you would gain access to two virtual bots and two live bots.
Rook Plan: This plan costs 39.99€. It is the plan you upgrade to once your monthly trading volume goes above 25.000€. If you would prefer to have two virtual or live bots running, you must upgrade to this plan. This plan allows for a maximum monthly trading volume of 250.000€, and it is particularly suitable for you if you are an active crypto trader.
Queen Plan: This is the highest plan, and it costs 59.99€. It is the next plan to upgrade to after the rook plan. It allows you unlimited monthly trading volume.
Take note that all Trality pricing plans give you a 20% discount when you do the yearly subscription.
Bitsgap allows you to operate more than one trading account through a unified interface in a cloud-based all-in-one crypto trading platform. Through API, Bitsgap integrates with more than 25 crypto exchanges in its platform. By this, you can access all your assets in different exchanges that are available on the platform. So, rather than signing into each of the exchanges you have holdings, you can execute trades between thousands of cryptocurrency pairs from a single dashboard.
Bitsgap also features lots of trading tools that are easy to understand and use. Some of them include automated trading bots that allow for buying and selling from simple strategy setups. There are also arbitrage services and complete portfolio management that handle everything that has to do with your trade positions, including adjusting trades and giving alerts in cases of changes in the market.
Bitsgap seeks to take advantage of arbitrage opportunities because of the various trading exchanges connected to the platform. So long as you hold accounts in different exchanges available in the platform, the arbitrage page shows you possible arbitrage opportunities. It displays the buy and sell prices, as well as the expected net profit, once you finish filling a transaction. As long as you have enough funds in your accounts, you can take advantage of the arbitrage opportunities.
You can access the Bitsgap tools on any device at all, whether on a desktop or a mobile device. If you are a beginner, the demo mode will make it easier for you to test things out first with virtual money until you have mastered how the whole thing works before you risk real money. If you are an advance trader, you can easily backtest advanced trading strategies on your own.
You can choose to opt-in for security steps such as email confirmation and 2FA to ensure unauthorized persons do not gain access to your crypto exchange account. Your funds are safe on your exchange accounts since Bitsgap only requests access to your balance view and trading history.
Each pricing category that Bitsgap offers is different from the other in terms of volume of trades, bots, and the number of tools it provides.
Basic Package: This package costs $19 monthly without the option of arbitraging. It has a maximum monthly volume of $25,000 and provides you with two bots.
Advanced Plan: This plan costs $44 each month. It provides you with a maximum monthly volume of $100,000, with five bots.
Pro Pack: This one comes with all the features. It costs $110 monthly. It provides you with 15 bots and unlimited access to trading.
Bitsgap supports the following crypto exchanges:
Bithumb, DDEX BIGone, Bit-Z, Bibox, LBANK, Liquid, Gate.10, Gemini, CoinEx, ZB.com, Coinbene, Poloniex, CEX.IO, KuCoin, HitBTC, Huobi, OKEX, Bittrex, Bitstamp, Bitfinex, Wex.rmz, The rocktrading.com, Yobit, Exmo, Livecoin, Kraken, and Binance.
For new accounts, there is a 14-day free trial that does not require your credit card details. During this period, you can make use of various features without having to pay any subscription fee.
Cryptohopper is a trading platform that allows you to follow expert traders, design your strategies, or go to the marketplace to get a strategy template. This cloud-based platform can allow you to use the Strategy Designer feature to choose more than 85 candlestick patterns and 25 indicators to build your strategy.
Cryptohopper also features simulated paper trading. Paper trading ensures that you do not risk real money until you have mastered your strategy and gotten comfortable around it. It also includes a Backtesting feature on historical data, Dollar Cost Averaging, Stop-buy, Stop-short, and trailing stop loss.
The platform also allows you to execute trades on more than one exchange. It provides you with a performance report that can help you figure out the crypto strategies and signals that perform best.
Also, there is a tutorial section and an academy that contains video courses where you can learn how to use the platform properly. Also, you can connect with a community of active members.
There is a free trial available for new users. However, to gain continuous access to the platform, you have to subscribe with a membership fee each month.
Explorer Package: This package would cost you $16.58 each month.
Adventurer Package: This one would cost you $41.58 every month.
Hero Package: This package requires a monthly subscription fee of $83.25. It has more features, such as it can allow you to hold as many as 500 positions on 75 different instruments.
Pionex offers its bot trading services entirely for free. You can make use of as many as 12 free crypto trading bots available on the platform. And you do not always need to check the markets all the time. You can automate your trading.
Pionex ranks among the biggest Binance brokers, combining liquidity from both Huobi Global and Binance. It is licensed approved.
Pionex trading fee ranks as the lowest (with a trading fee of 0.05% for maker and taker) compared to other popular or top exchanges. The grid trading bot on Pionex platform can allow you to buy and sell to make a net profit within a specific price range. The leverage grid bot on the platform can provide you with as much as five times the average leverage. Smart trade terminal allows you to set stop losses, take profits, and even trail your profits all within one trade. The Spot-Futures arbitrage bot allows you as a retail investor to generate income of 15-50% APR with minimal risks.
Pionex, Huobi Global, and Binance.
3Commas is another cloud-based cryptocurrency trading platform just like Cryptohopper. Some of its features include copy trading, portfolio management, crypto trading bots (simple and composite), and a smart trading terminal. You can access the platform from any device, desktop, and mobile device through the app. Also, the dashboard integrates some of the leading crypto exchanges.
Users can set profit targets with the smart trade terminal or set a trailing stop-loss target. There are lots of algorithmic trading bots on the platform you could configure to suit your trading style. Some of them include the short bot and the long bot for both the bear and bull markets, respectively, and the composite bots that allow for advanced configuration options.
There is also a support team and a discord community of active members.
There are 3 Packages that you can subscribe to monthly.
Starter Package: This package costs $14.50 each month.
Advanced Package: This one costs $24.50 monthly.
Pro Package: This package costs $49.50 each month. And it includes complete portfolio management, Tradingview, Bitmex bots, and composite bots.
Also available is a custom enterprise solution.
Some of the exchanges which 3Commas supports include YoBiT, Poloniex, OKEx, KuCoin, Kraken, Huobi Global, HitBTC, Gate.io, FTX, Exmo, Coinbase Pro, CEX.IO, Bybit, Bittrex, Bitstamp, BitFinex, Bitmex, Binance US, Binance Jersey, Binance Futures, and Binance.
Shrimpy is much like the other cloud-based crypto trading platforms on this list. However, it has an added advantage or feature in portfolio rebalancing, a popular strategy in traditional markets, which allows you to organize your crypto holdings portfolio.
Once an asset rallies up speedily, the rebalancing strategy quickly secures the profits made and spreads it into the entire portfolio, thus taking advantage of the market’s volatility.
When Shrimpy developers pit the two strategies against each other using one year of historical data, the rebalancing strategy proved to be far better than the strategy of buying and holding an asset. So rather than adjusting the positions by yourself each time there are changes in the market, the rebalancing system automatically does smarter work.
The backtesting experiment report also revealed that a 1 hour rebalance period is more profitable when tried out in the space of one year. Other features that Shrimpy offers include backtesting, which allows you to backtest your strategy on historical data.
Also, the Insights feature allows you to have a sneak peek into the portfolio of other users to help you see how they are better managing theirs. And then, there is Social trading that allows you to copy other traders’ strategies on the platform.
To have access to the Shrimpy platform, you will have to be among one of their monthly subscribers. Shrimpy allows you to have a free Hodler subscription that enables you to connect to their exchange account after you have created your portfolio. However, aside from the free Hodler subscription, there is a professional package.
Professional Package: This one costs a $13 monthly subscription. And it gives you access to all Shrimpy features such as Insights, Social Trading, BackTesting, Rebalancing, and Custom Index Builder.
HaasOnline is not a cloud-based automated cryptocurrency trading platform like Shrimpy and Cryptohopper. It is a software-based platform that requires downloading and installing the software on your desktop computer. It can work on any operating system such as Windows, Linux, and macOS.
The company has supporting documentation on their website that provides you an expert guide on how you could go about setting up your account, installing the software, and linking exchange accounts. HaasOnline provides you with a host of more than 15 crypto trading bots in a comprehensive software suite. Some of which include Market Making Bot, Flash Crash Bot, Scalper Bot, Accumulation Bot, and a host of others.
You will also find 50 technical indicators, Insurances, and Safeties, which you can combine to form a sophisticated strategy. The Insurances provide conditions that the system must ensure are fulfilled before executing a buy or a sell order. The proprietary Safeties generate signals for a buy or a sell based on pre-set market conditions that must be met (such as if BTC drops by 10%, then buy).
If you are a programmer, the platform provides you with the freedom to create your bots using C# codes. Other features include a customizable dashboard and backtesting. Also, it allows integration with Discord and Telegram. More so, the platform provides you with tutorials that can help you better understand the platform and its features.
The pricing for HaasOnline has three categories of different learning plans, including Beginner, Simple and Advanced plans, allowing for three months, six months, and 12 months subscriptions. You can make subscription payments through Bitcoin only.
Beginner’s plan: This plan costs 0.073 BTC yearly, giving you access to over 20 indicators, 10 Safeties, 11 Insurances, and 10 Active bots.
Simple Plan: This one costs 0.127 BTC yearly, providing you with access to over 40 technical indicators, 20 Safeties, 13 Insurances, and 20 Active bots.
Advanced Plan: The advanced plan costs 0.208 BTC yearly, with access to an unlimited number of technical indicators, Safeties, and Insurances.
HaasOnline supports the following exchanges: Poloniex, OKEX Futures, OKEX, OKCoin, KuCoin, Kraken Futures, Kraken, Ionomy, Huobi, HitBTC, Gemini, Deribit, Coinbase Pro, CEX.IO, Bittrex, Bitstamp, Bitpanda Pro, Bitmex, Bitfinex, Binance US, Binance Futures, and Binance.
Kryll is a crypto trading platform that sets itself apart from the rest with two vantage points. It has an ERC-20 token called KRL. It is used on the platform to generate a token economy. This token takes care of the fees for running all automated trading strategies relating to bots.
You can also either create your trading strategies or decide to rent from the Kryll marketplace other users’ strategies tested and proven. You can backtest, rate and review the strategies developed by other traders on the platform. And you can also create your trading strategy and monetize it to earn more KRL by leasing it to other users in the Kryll marketplace.
Another vantage point is the unique strategy builder feature on the Kryll platform that allows you to build your strategy by merely dragging and dropping. Of course, it’s not very easy to use at first because of how complex it is, but with more time and practice, you can pretty much settle into using it. There are also plenty of other features, such as a mobile app, social trading, integrating with Tradingview, and backtesting. Also, Kryll allows you to rent trading strategies from other users and make money from leasing yours to other crypto traders.
Unlike other trading platforms that charge their fees in Bitcoin or fiat currency, Kryll allows its users to purchase KRL tokens and make subscription payments on the platform. You pay for live trading using KRL. For each trading day, you pay 0.0333% of your live strategy capital. It means that if you have a live trading strategy amount of $1,000, for instance, you will have to pay $0.3 per day. If you elect to hold a certain amount of KRL, you will qualify for further discounts on extra trading slots, trading and live testing fees, and referral bonuses.
Launched in 2013, Cryptotrader is one of the earliest crypto trading platforms. And like the Cryptohopper on this list, Cryptotrader is a cloud-based platform that integrates crypto exchanges using API to execute trading strategies automatically. It has a host of free automated strategies that you can use for your trading experience. However, its primary aim is to provide users with a marketplace where they buy crypto trading bots that other traders create.
The developer of the bot determines the price of each crypto trading bot. Hence you would see price variation from developer to developer for different bots. You can also learn how each bot works from the detailed notes of the developer. Also, you can learn of the previous performance of the bot and how to best use it. If you are an advanced programmer, you could develop your strategy and put it on the market for others to purchase.
There are several plans that Cryptotrader offers. They include Basic, Regular, Pro, VIP, and Premium.
You can begin your subscription for the plans with 0.0009 BTC as the monthly cost for the basic. At the same time, the premium plans could cost you as much as 0.0216 BTC each month. You can pay in BTC or the equivalent in LTC. The basic plan does not give you access to unlimited amounts of trading, shorts, margin trading, and crypto trading bots.
Mudrex is among the latest crypto trading platforms on this list, launched in 2019 by a tech entrepreneurs group based in India. The original intent of the creators was not a trading platform but a crypto exchange. Following the Reserve Bank of India’s ban on banking services for crypto exchanges, Mudrex was converted to a crypto trading platform for automated cryptocurrency trading.
Mudrex has the same strategy builder feature as Kryll that allows you to drag and drop. The only difference is that it does not utilize its own token.
With Mudrex, you can create your own automated strategy devoid of bias and emotions. You set pre-defined trading rules by utilizing the drag and drop feature that contains patterns and inbuilt technical indicators. The backtesting feature allows you to backtest your strategy on past market data to ascertain the performance. You can also paper trade for as long as you want without risking actual money until you are ready to risk actual money.
Other features include a marketplace where you can see strategies created by other users. You can choose whichever one you want and subscribe to it. You, too, can make money on the marketplace by putting out your trading strategy and stipulating a monthly fee other users would need to pay to make use of it. Also, there is a discord community and a support desk for any queries you may have.
There are two categories for getting access to using the Mudrex platform.
Mudrex Invest: This one will not cost you except for the monthly fee you must pay to the strategies’ creators.
Mudrex Build: This one would cost you $16 monthly to gain access to create your own trading strategies. And to backtest them and use them.
What Are The Risks Of Crypto Trading Robots?
You should know that crypto trading bots are primarily designed for crypto traders and not investors who have no prior trading knowledge or experience. Before choosing any crypto trading platform, it is wise to consider some of the risks associated with crypto trading bots. Below are some you should be aware of:
Are You An Investor Or A Trader?
Suppose you are an investor with no prior trading experience aside from buying and holding assets. In that case, it may be best for you to copy trades or stick to an already existing algorithmic strategy. Traders who have experience in trading stand a better chance of being profitable using a crypto trading bot.
Beware Of Scams And Hidden Fees
It is essential to do your research on any crypto trading platform before you commit to using them. Some developers design bots to gather financial information from users or steal their assets or funds from their crypto exchanges. You should make sure that you clearly understand the fees and the trading platform has a support team.
A Bot Is Simply A Tool For Crypto Trading In Your Kit
A crypto trading bot is simply a tool to supplement your trading. It should not replace human supervision.
There Are Unknowns
It would be best to prepare for the unknown factors that can negatively impact your trades and make you lose money. There are no certainties in the market!
It is a common myth that the investment market is a mystery. So many people assume that investing requires insider secrets and specialized knowledge. In truth, it doesn’t. The secret to investing is written in the numbers and we are happy to share the information that we have. Our team focuses on concrete data that is guaranteed to explain the ongoing state of the market. The cryptocurrency market shifts like any investment market, but it isn’t magic. We provide real data to support our beliefs surrounding market trends, and we do it for your benefit!
To your success!