What are the best crypto trading robots?
If you are involved in cryptocurrency trading due to the observation of a constantly increasing monthly trading volume on major exchanges, this requires a certain amount of technical know-how; here, the best crypto trading robot can help.
We've shortlisted a list of the top 10 crypto trading bots with details to help you with your automated crypto trading strategies and how to set up the bots.
Check out the list of the best crypto trading robots with more details about the platforms.
1. Pionex.
The best for integrated trading robots
- 16 free built-in trading bots with a free trial plan for retail investors.
- Get $1,288 in free trial funds.
- 99.99% uptime.
- Leveraged grid bot with maximum leverage of 5X.
- The Spot-Futures arbitration robot helps retail investors obtain passive income at low risk.
Pionex is one of the most popular exchanges and offers a cryptocurrency trading bot that is available at zero registration costs. Bots allow users to automate their investment strategies so they don't need to constantly monitor the market. The platform's rebalancing bot helps the user hold the pieces together.
Pionex uses crypto-to-crypto conversions to support manual trading, fulfilling predefined market conditions. Furthermore, the Smart Trade Terminal offered by Pionex allows traders to set up, take profits, and stop losses all at once.
2. CryptoHopper.
The best for automated cryptocurrency trading.
- The best solution for beginners.
- Supports over 130 indicators and 12 exchanges.
- Free and paid trading signals for advanced traders.
- Support RSI, EMA, BB, and other important indicators/signals.
- Real-time performance reports.
Cryptohopper hosts trading services for novice and advanced traders using cloud storage. It offers an intuitive and easy set-up process without requiring credit card information. The crypto trading robot integrates a trader's social feelings with other investors, improving the trading experience and refining trading strategies. The platform's periodic shopping robots perform repetitive tasks by buying digital assets in distinct price ranges, resulting in an average purchase price. Through mirror trading, Cryptohopper allows beginners to copy trades from experienced traders, benefit from implementing their own strategies, and learn to trade.
3. Coinrule.
Best mobile application
- The best for mobile trading.
- 150+ new model strategies.
- Offers robust backtesting capabilities
- Military-grade encryption protocol.
- Allocating funds is extremely easy with market indicators.
Coinrule is a newbie-friendly crypto trading bot that requires no technical skills. Other crypto traders can apply their existing trading rules and start trading with the backtesting feature and a free demo account that helps verify historical data. Coinrule provides access to model strategies that can trigger actions based on market changes. Trading bots manage volatility without any code needed to maximize profits. Coinrule also regularly introduces new robot models, whether they are stop-loss settings, long-term maintenance strategies, or accumulation strategies.
4. TradeSanta.
The best for newbie traders
- Supports cash and forward transactions.
- Free plan and 5-day trial of the basic plan.
- Easily supports trading robots with long and short strategies.
- A cloud-based robot to save time when executing automated trades.
TradeSanta is a trading robot based on cloud computing, designed to place orders from multiple exchanges using technical indicators like the RSI. It offers DCA, Grid, and Futures bots that allow users to trade assets. Three plans are available (basic plan, advanced plan, and maximum plan) as well as a free plan valid for 3 days.
5. 3Commas.
Best trading bot in the world
- Support for more than 18 major exchanges.
- Free access for 3 days.
- Trading on paper with users to balance their portfolios by maintaining the coin ratio.
- Supports DCA, backtesting, custom TradingView signals, and more.
3Commas is a relatively new crypto trading robot that uses DCA to make trading decisions.
It is a cloud-based robot that takes care of twenty exchanges. Beginners can use paper trading to test their strategies.
Advanced traders can get their value from the Smart Trading tool, which allows cryptocurrencies to be traded from multiple supported exchanges and currency pairs.
The cryptocurrency margin trading platform offers transaction notifications via mobile applications, emails, and browsers.
6. Bitsgap.
The best for an intuitive interface and strategies
- Over 100 technical indicators and 12 chart types.
- Supports over 25 cryptocurrency exchanges.
- Free 14 day plan.
- Supports up to 10,000 digital pairs
Bistgap is a relatively new bot that automates trading with pre-configured algorithms in order to take advantage of fluctuating market conditions and price movements. Bitsgap offers an intuitive and user-friendly interface that allows users to easily visualize trading through charts. Backtesting allows users to optimize pre-configured bots during bear and bull markets. Bitsgap keeps funds on the cryptocurrency exchange balance for safety and security purposes.
7. HaasOnline.
Best Bot for Day Traders
- 22 cryptocurrency exchanges are supported.
- Supports around 15 custom robots for various trading strategies.
- Allows users to digitally recreate any trading strategy.
HaasOnline is a powerful automated robot with a backtesting engine that can extract information from 56 weeks of past data. The flash crash trade bot is a leading feature offered by HaasOnline, allowing traders to execute spread orders on markets of their choice. It supports options bots, backtesting, paper trading, cryptocurrency scalping bots, arbitrations, dollar cost averaging, and more. HaasOnline offers HaasScript, which is a scripting language developed for trading robots. It has custom dashboards that allow traders to monitor their market movements and trading bots.
8. Zignaly.
The best for security and low-cost options
- Get the copy trading feature, and DCA buys strategy options.
- Possibility to follow the stop-loss.
- Support for 8 cryptocurrency exchanges.
- A better free crypto trading robot without reducing profits.
- TradingView integration for trading.
- Offers free and paid signals.
Zignaly is a cryptocurrency trading terminal that allows users to trade automatically with the help of external signal providers. It is extremely easy to use and can be used to earn passive income. With the TradingView account, users can access the market with their preferred indicators and customize their trading strategies. Zignaly users can perform fully or semi-automated crypto bot exercises. Zignaly focuses on providing a trading platform that is simple and has a low entry barrier so that beginners can start trading.
9. Coinigy.
The best for easy cryptocurrency trading and tracking
- Coinigy offers access to over 45 exchanges.
- No additional transaction fees.
- Portfolio portfolio monitoring.
Coinigy is a leading cloud-based crypto terminal that allows users to integrate other exchanges and trade crypto on various trading platforms. The partnership with CoinLedger allowed Coinigy users to access tax reports and file transaction taxes. It offers price data, an arbitrage matrix, portfolio management, aggregation tools, and comprehensive spot trading.
What are cryptocurrency trading bots?
Crypto trading bots are software designed to analyze the crypto market and place trade orders on behalf of traders. It is an automated crypto trading bot that involves portfolio management and technical analysis. It uses algorithmic cryptocurrency trading strategies to execute them at the ideal time in order to capture the profit of the fluctuation.
Automated crypto trading bots work based on algorithmic and pre-programmed trading strategies. The decisions are based on trading price movements in the crypto market and analyze current market conditions, including volume, time, and orders. Crypto traders are refining the best crypto trading bot to suit their high-frequency trading preferences.
What are the types of cryptocurrency trading robots?
A few types of cryptocurrency trading robots can be used to execute trades automatically, and they are programmed with specific robot trading strategies in mind. Here are the types of trading robots that are available in the market.
Arbitration
Crypto arbitrage bots refers to buying at a lower price and selling at a higher price. Traders can use a variety of ways to arbitrate while trading cryptocurrencies. The arbitration trading strategy makes profits by buying and selling on major cryptocurrency exchanges. It is independent of market performance and, therefore, has a fairly low level of risk. It simply involves quick and intelligent trading to exploit price differences that prevail in the cryptocurrency market.
Market Making
The main benefit of the market holding strategy is to help traders prevent major price fluctuations and movements. The crypto bot market-making trading strategy creates liquidity, like the grid trading bot. However, they perform close to the market price by creating trade orders on both sides of the order book, thus making small profits.
Momentum Trading
In this trading strategy, traders hold a short-term position and sell it when the trading price is at the peak before the crash.
It is also known as a trend-following mechanism, which is ideal for trading cryptocurrencies on a positive momentum wave with crypto assets and selling them when market momentum reverses.
This cryptocurrency trading strategy is based on the idea that prices will rise above the expected average and then inevitably fall.
Therefore, entry and exit timing is vital in momentum trading, and the crypto bot can help analyze market conditions' and determine the ideal time to sell a position.
Mean Reversion
The average reversion strategy is an advanced trading robot built on the assumption that traders can bring it back to the average value if the price of a particular cryptocurrency deviates from the average price.
This strategy essentially involves a mechanism of buying at low prices and selling at high prices. For example, if the price of a cryptocurrency falls below the market average, the bot trading strategy will start buying, and if the price goes up, it will start selling.
Copy Trading
The main concept of copy trading is to automatically copy trading strategies from more experienced traders with a single click of the mouse. The crypto bot trading platform copies trades, often involving ranking, gamification elements, and an interactive social community. The concept of copy trading is useful for beginners who are new to the trading world and who lack the adequate skills and knowledge of advanced trading indicators, trading tools, and trading signals.
Grid Bots
A grid bot allows traders to trade cryptocurrencies at high frequency. The grid trading bot makes low trades at close price ranges to make crypto trading bots profitable. Grid bots are suitable for beginners because they need to define multiple grids of lower and upper cost limits for a particular cryptocurrency. The grid bot does everything else because it makes a series of interchangeable trades and accumulates profits for inexperienced traders.
Sandwich Bots
The sandwich robot strategy detects when traders place bids on a particular cryptocurrency. The bots then place higher bids on the same coin and bet that traders will still want to have the tokens. If the sandwich robot wins the piece, it immediately attempts to sell it to the original bidder at a relatively high price.
Advantages and disadvantages of using trading bots
When choosing the best crypto trading bot that makes trading decisions based on market movements guided by emotion rather than random trading strategies, traders should know how to get help with the best crypto trading bots for trading. The best cryptocurrency trading bots have the following pros and cons —.
Benefits
Effectiveness
Crypto bots help analyze market trends and conditions for more than one digital asset. People who are not effective at multitasking can use trading robots for greater efficiency.
Increased speed
Bots can help to place orders quickly. Any delay in placing orders can lead to losses, which is why trading robots tend to be more efficient than human beings.
Operating period
It is not possible for a trader to be online 24/7 and sit in front of the PC to review investments. This is why trading robots are used that work 24 hours a day, 7 days a week, so that traders don't miss any golden opportunities.
Automated investment options
There are countless reasons why traders lose money when executing trades, like selling in a panic and buying out of fear of missing something. Relying on automated investments or crypto bot trading strategies can be a big advantage for these traders as they are not driven by emotions.
Disadvantages
Requires prior knowledge - Not for inexperienced traders
Trading requires previous experience and knowledge, especially when it comes to using bots. Changing configurations without adequate experience can lead to losses, and as a result, trading robots are not always useful for newbies.
Requires supervision
Monitoring requires traders' attention, which may leave users wondering -” Are crypto bots risky? “. “Probably not; bots are not always useful, especially during periods of high volatility, as they are not linked to the value of funds. Without the appropriate knowledge or skills, market surveillance can lead to losses, especially during periods of high volatility.
Security issues
Now you need to ask yourself Are crypto trading bots safe? This question is difficult to answer because bots execute trading orders by accessing API keys. The nature of bots and exchanges can lead to unwanted risks such as loss of funds and phishing. So traders should pay attention to the safety of their funds when using bots.
No promise of profit
Robots can be expensive and, at the same time, they don't guarantee profitability. Traders should therefore decide whether the technical indicators used by the robots will bring them profits before using them to automate trades.
Why use crypto trading robots?
While there are a few disadvantages to using trading robots, many retail traders have built robots and use them to execute trades automatically. Here are a few reasons why traders want to use trading robots despite the disadvantages mentioned above.
Automated operation
Automated trading involves pre-programmed trade decisions that are not driven by emotions. Price swings in crypto markets can lead to emotionally-driven trading decisions and massive losses. Now the question arises: Can crypto trading be automated? Yes, however, the use of pre-programmed automated bots can lead to appropriate trading decisions that are not affected by emotion.
Cryptocurrency trading strategy
Users can employ different strategies using bots as they are programmed for multiple scenarios. The most common strategies include medium reversion, momentum trading, arbitrage, market holding, the copy trading feature, sandwich bots, and other bots.
When should cryptocurrency trading robots be used?
A well-executed trading robot can perform multiple functions, such as portfolio management, data collection, intelligent order routing, rebalancing, and more. Cryptocurrency trading bots should be used to -
Repetitive tasks - The best automated system can be used for repetitive tasks because it virtually copies and pastes particular tasks and completes transactions without a problem.
Timing — Timing accuracy while trading crypto is also important. The robot monitors the market and executes trades at the ideal time.
Simplifies complications - Each trading pair should be carefully determined according to the quantity of assets and price range. A carefully chosen robot can help automate impossible and complicated strategies with ease.
FAQs
Are cryptocurrency trading robots legal?
Yes, crypto trading bots are legal. If something is illegal under normal circumstances, it will be illegal for crypto trading as well.
Are cryptocurrency trading robots profitable?
Cryptocurrency trading bots are automated software that does not guarantee profitability. There are several risks associated with automated bots. Note that these are designed for experienced and professional traders and not for investors.
Can I make money using trading robots?
Yes, but you can also lose money using a robot. It's important to know how technology works before investing too much in it.
Are trading robots legal?
Yes, it is legal to use trading robots, although many have projected objections to the impact of automated trading on the market.
Are robots good for trading?
Bots are used by traders who want to profit from the cryptocurrency markets without being present 24/7 in front of their screens. The biggest benefit of using bots is that traders can take advantage of automated trades and never miss out on golden opportunities.
Summary.
To summarize, the various benefits of trading bots have made them extremely popular in the crypto market. This has led to the development of thousands of automated bots, making choosing the best option a difficult task. The best crypto trading bot should consider beneficial characteristics as they require almost zero technical skills to operate. This guide to crypto bot trading will help users trade cryptocurrencies like a pro using automated crypto trading bots.
The best crypto trading bots are available for free so newbies can start trading today. The influence of human emotions on crypto transactions is drastically reduced, making crypto trading decisions perfect and profitable. However, it's important to remember that trading and investing using bots always involves losses because they don't guarantee profits.
