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Beginner’s Guide to Crypto Trading Bots

There are a wide number of crypto trading bots available to use – it can be tough for beginners to find the best place to start. This comprehensive “Beginner’s Guide to Crypto Trading Bots” article will go over different kinds of crypto trading bots. By the end of it, you’ll know which bots are best, and use this information to choose one that best meets your needs.

Trading cryptocurrencies isn’t easy. This is because unlike stock markets, cryptocurrency markets don’t close, and this presents a very stressful scenario for both casual investors and seasoned traders in the industry.

The cryptocurrency market is also very volatile. If you’re a crypto investor, you’re probably familiar with the (sinking or pleasant) feeling of waking up to massive losses or large gains in your portfolio.

To retain control of trading even in your sleep and to counter the volatility of the cryptocurrency market, traders are increasingly relying on trading bots.

What is a trading bot and do you really need to use one?

Any automated trading system is based on a set of rules that dictate when to buy or sell. Bots have been used in the traditional stock market since the 1980’s to curate index funds and diversify portfolios. These bots automate the work that investors have historically carried out themselves, which can save crucial time in the fast paced crypto market. 

Then there are technical trading bots that predict price movements and execute trades based on signals and indicators. These are the most commonly used bots as crypto traders race to beat the market with a winning strategy. 

Features to look for in crypto trading bots and tools

Free Trial

All of the trading bots featured on this list have been well reviewed in various crypto trading communities and websites, but nothing beats trying out the product for yourself. The majority of tools and platforms on this list offer a free trial, but be sure to double check.

Social Trading

In addition to developing your own trading strategies, you may want the option to follow other traders and other common strategies used with the product. A good strategies marketplace built within your trading tool of choice will make it easy and cost efficient to benefit from profitable trade strategies. 

Backtesting

Backtesting allows you to test trading strategies against historical data to see how your algorithm or trading strategy would have performed under real market conditions. Obviously, you want to have access to backtesting features that create the most realistic simulations which means taking into account slippage and latency. This means that the accuracy of the backtesting tool is only as reliable as the historical data sources that it pulls from. You’ll also want to look for a robust community of traders who share their backtesting configurations on community forums. 

Indices 

Many trading tools offer portfolio automation, and it’s important to consider how they create their indices. Unlike with stocks and securities, it’s not possible to maintain a complete index of all coins currently traded in the crypto market. So a good trading bot should have educational content that details which coins are sampled and how market caps are weighted in the index. 

Cloud based vs. Server based

Most of the newest crypto bots are cloud based, so if convenience is a high priority for you, this is something to be aware of. If a trading tool is not cloud based, you will have to keep your server/computer running at all times to make sure you don’t miss any trades. While it does require some technical know-how to run trading software on your own server, the upside is that it’s more customizable and typically has higher performance. If this is a priority for you, then there are some great open-source programs on this list. 

Trading Communities

When it comes to trading, the community around a product can often be just as important as the product itself. You’re paying not just for the technology but for the living manual that will help you use it most effectively. If you really want to get the most out of your trading software it’s a good idea to check out the trading community that is using it. Many of the trading tools on this list have made big investments in community development, while others are more suited for the lone wolf traders. Compare how active the trading communities are on Telegram, Reddit, or Discord. It’s also important for you to consider the country and language of the trading community as crypto regulations are different all around the world. 

Support & Tutorials

As you consider which trading tools to invest in, take a look at the educational content that is available on the site. In order to reach the growing market of new crypto traders, many of the platforms on this list have developed training modules, blogs, and videos to educate their users. Also consider the support offered for when things inevitably go wrong. With responsive chat or phone support, bugs and updates can be promptly addressed so that you can get on with trading—otherwise you might waste valuable time waiting days or weeks for email reply. 

Crypto Tax Software Integrations

It can be easy to rack up a high number of trades when trading with crypto bots and automated tools. This can make reporting your crypto gains and losses on your taxes challenging if you don’t have the right software. It’s important to look at the crypto tax software companies that are compatible with your trading platform of choice. CryptoTrader.Tax is the leading crypto tax software that is partnered with many top crypto trading bots, terminals, and tools on this list. Having good crypto tax software that supports your crypto trading strategy will keep your tax reporting extremely easy and stress free.

How do you choose the best trading bot?

 Reliability 

You can easily miss out on golden trading opportunities if your bot goes offline for some time. Reliability is, therefore, a key when acquiring a crypto trading bot.

But how can you be sure about a particular bot’s reliability? To be certain about a bot’s reliability, you need to review its users’ sentiments. Go for a bot that has a long trail of contented clients who testify of its reliability and level of service.

 Security 

Your trading bot has access to your currency. This can be risky, especially if you’re using a sketchy bot. Whereas there is no sure way of telling how secure a given trading bot is, you can limit your risks by opting for a bot that’s widely acknowledged for its security. 

 Profitability 

Using a trading bot is pointless if it doesn’t deliver the greatest possible returns. You should, therefore, do your homework on a bot’s profitability before you invest your time and money on it.

 Transparency 

Transparency is what makes cryptocurrencies stand out from traditional currencies – their whole network is totally transparent which leaves no room for foul play. The best trading bots uphold similar standards.

Go for bots built by reputable developers. Transparency not only helps you settle for a trustworthy bot, but it also enables you to get help whenever you have issues that need to be fixed.

 Ease of use 

The primary purpose of crypto trading bots is to make cryptocurrency trading easy for everyone. So you should go for bots with an intuitive interface. You should be able to control your bot with only a few clicks.

Pros and cons of using trading bots

 PROS 

  • Efficiency

Trading bots can analyze market conditions in multiple cryptocurrencies, simultaneously, and execute trades whenever there is room for making a profit.

Humans, on the other hand, are not good at this kind of multitasking. You can only analyze cryptocurrencies market conditions by going through them one at a time. And as you switch from one cryptocurrency to the other, you can miss on many profitable trades. This ability to multitask makes bots more efficient than humans.

  • Emotionless

Cryptocurrency markets are highly volatile. Also, the big players often manipulate the currencies. The emotional tumult that follows these huge price fluctuations can make you erratic which then can lead to you making regrettable orders.

Conversely, trading bots are different. They don’t have human emotions, and they are not attached to money. Markets manipulations and huge price fluctuations, therefore, don’t affect their functioning.

  •  Increased speed

We often take a long time to execute trades. Unfortunately, in the volatile cryptocurrency market, such delays can be costly as a good trade may lose its value if you take too long in executing it.

Trading bots, on the other hand, place orders instantaneously. This increased speed makes them much more effective than humans.

  • Running period

You cannot always stay in front of your computer and monitor your investments. You need sleep and other obligations that demand your attention always pop up.  But while you sleep, the cryptocurrency market marches on

 The opportunity cost of not being on top of the market 24/7 is that you miss many opportunities to make more profit. Unlike humans though, a trading bot can run 24/7 and thus never misses opportunities.

 CONS 

  •  Not suitable for inexperienced traders

Cryptocurrency bots can bolster your trading. But this requires that you have some knowledge of what’s happening behind the scenes. While some bots come with great preset trading configurations, they often don’t yield maximum returns.

Changing the settings of a bot’s configuration without knowledge of the technical aspects of trading can lead to massive losses. Bots are therefore not very useful to inexperienced traders.

  • Requires monitoring

Crypto trading bots are not very effective during high volatility periods. This is because they are emotionless and not attached to the money and so can trade successive losses which can lead to a massive overall loss.

  • Present security concerns

Crypto bots execute trades through integration with application programming interfaces (APIs). This means the two machines work together without manual intervantion.

The centralized nature of exchanges and trading bots poses some risks though.Whereas hackers avoid blockchain systems thanks to their almost impenetrable security, they target systems with central servers (like bots and exchanges). Machines that work independently like bots are especially easier to hack.

Here is what you need to do to protect yourself from hacks:

  • Keep you API keys secret
  • Switch off automated withdrawals
  • Do your home work – bots are complex tools, you need to read about protection measures, preferences, and trading strategies.

Guide to Crypto Trading Bots

Methodology We Used for Finding the Best Automated Cryptocurrency Platform

While we were in the research phase of this article, we looked at a huge number of cryptocurrency trading bots. To keep our data objective, we created a stringent set of standards. A bot could only make it onto this list if it adequately fulfilled several criteria: team reputation, support and guides, general bot features, price, and reviews. 

1. Team Reputation

The bot development teams needed to be in good standing within the trading community. While evaluating each bot’s team, we looked for the following information: 

  • Degrees and other qualifications of each team member
  • Companies that the team members have worked for
  • The startup funding source
  • Country of incorporation
  • Team transparency

2. Support & Guides

One important consideration was how much support the team provided for the bot’s users. Were there channels available to reach out for assistance? Would they help with bugs in just a couple of days, or would it take weeks? When you’re implementing a cryptocurrency trading bot as a critical part of your trading strategy, it is crucial that you can get help quickly. We determined whether the team was sufficiently supportive by checking the following: 

  • Is there an active Discord or Telegram community, in which the team is actually active?
  • Are there multiple channels available to get in touch with the team?
  • Does the support team respond promptly?
  • Does the team publish updates to discussion forums on a regular basis?

3. General Bot Features

While it isn’t necessary to use a crypto trading bot that’s totally overloaded with extras, there are some key features that we want to see: 

  • Backtesting
  • Strategy Implementation
  • Execution
  • Job Scheduler
  • AI Algorithms

4. Trading Bot AI

The last point on the features list was AI algorithms. Why is this beneficial, and is it different from a bot? Yes, absolutely. AI strategies are more dynamic than the strategies a traditional crypto bot uses. 

Through deep machine learning, an AI bot can actually analyze and understand data – thus, it can adjust its own algorithms in order to adapt to new data. While it isn’t 100% necessary for your crypto bot to have AI features, it can be a great way to take some of the analytical burdens off of your shoulders. 

5. Prices

If you use a costly crypto trading bot, it reduces the amount of money that you can funnel into your portfolio. We aren’t saying that you shouldn’t use an expensive bot – but you should be sure to weigh the rewards vs. the cost. A $1,000 bot will likely just be eating into your portfolio. So, we tried to find bots that both provide high-quality services while also fitting into a modest budget. 

6. Ease of Use

Many crypto bots are way too complex for a beginner trader to use. We have only included bots that can fit multiple comfort levels – they provide necessary core features while also being user-intuitive. 

7. Reviews

One of the best ways to see if a crypto trading bot is worth its salt is to see the feedback that real users have given. We scoured crypto review forums, as well as more general review sites like Trustpilot. For a crypto bot to make it on our list, the majority of its users had to be satisfied.

Guide to Crypto Trading Bots - Breaking Down The Top Crypto Trading Bots

3Commas is a new contender in the automated trading bot space that uses Dollar Cost Averaging to inform trade decisions.This platform especially stands out for their trailing stop tool. This means that you can take advantage of a sudden price rally because the trailing stop will keep your position open for as long as the price increases. As soon as the price reverses, your position will automatically be closed. Another great feature of 3Commas is that they offer multiple currency support. 

3Commas is a cloud-based platform and supports up to 20 exchanges. Beginners can start with their paper trading feature to test out their strategies. Advanced traders will get value out of their SmartTrading tool which allows trading from multiple exchanges and pairs from within their streamlined interface. 

3Commas has also partnered with CryptoTrader.Tax to bring automated tax reporting to their users.

Prices

3Commas offers a 3-day free trial for the Pro package, which lets you try out all of their features. They have monthly subscription plans ranging from $22, $37, and $75. There’s a 15% discount for a 6-month subscription and 25% off for a yearly subscription. If you want to access marketplace signals that is an additional subscription through their Marketplace. 

Exchanges

Binance, Binance DEX, Bilance Futures, Binance.us, BitMEX, Bitfinex, Bitstamp, Bittrex, Bybit, Cex.io, Coinbase Pro, Exam, Gate.io, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, Poloniex, YoBit

Features

  1. Functionality – 3Commas comes with an intuitive user interface that is packed with detailed analytics and numerous functions. The bot allows you to set up take profits and stop loss targets as well as craft your own trading strategies.
  2. A wide range of tools – In addition to using 3comma’s performance analytics and automated bots, you can also create, analyze and back-test portfolios as well as monitor other user’s best performing portfolios. The bot also allows you to follow and copy successful trader’s strategies.
  3. Simultaneous take profit and stop loss orders: 3 commas enables you to make maximum profit by allowing you to simultaneously establish the price point atwhich you wish to sell to make a profit and the price point at which you wish to sell in order to stop losses. You can do all these within 3 comma’s SmartTrade terminal.
  4. Mobile Apps: The 3commas team has developed mobile apps for both iOS Android.
  5. Advance Order Types: 3commas enables you to set up advanced order types like trailing take-profit and stop-loss orders and contemporary take-profit and stop-loss orders. 3commas also allows you to set up advanced orders even in exchanges that currently don’t support them. If you’re frustrated by the absence of advanced orders on some exchanges, you can easily create advanced orders by linking your account to 3commas.
  6. Trader’s Diary: Do you want to organize all your trades in one place? Some traders use dedicated accounting software or Excel sheets for this. Conversely, 3commas has created a trader’s diary which gathers all your trades across exchanges and organizes them in one convenient location.

3commas Pricing

  1. The Starter Package ($174 per year, or $14.50 per Month with annual payment; $26.10 for monthly payment)Access to Smart Trading terminal (Spot, Margin and Futures – new)
  • Paper Trading
  • Concurrent Take Profit and Stop Loss
  • Access to all available exchanges
  • Notification for cancellations and errors
  1. The Advanced package ($294 per year, or $24.50 per Month with annual payment; $44.10 for monthly payment)
  • All Starter Package plus:
  • TradingView Custom Signals
  • Simple bots
  • Single pair DCA bot (new)
  • Short and Long algorithms
  • View and copy bots
  1. The Pro Package ($594 per year, or $49.50 per Month with annual payment; $89.10 for monthly payment)
  • All Advanced Package plus:
  • Margin trading bots
  • Composite bots
  • Futures and Margin trading bots (new)
  • Bitmex, Binance Futures, ByBit bot
  • FTX futures bot (new)
  • Multi pair DCA bot (new)
  • GRID Bot
  • Options Bot (new)
  • Futures and Margin trading bots (new)

Pros and cons

PROS 

 CONS 

Note: 3 commas offers free 3 days FULL access and ability to use it for free

Gunbot is a highly customizable trading bot for advanced traders. It is not cloud-based and requires you to set up your own server, so if you’re concerned with protecting your privacy this is  a great option. Gunbot is known for its enthusiastic trading community where thousands of traders contribute in fixing bugs and improving product performance, so it’s no surprise that they support over 100+ exchanges. If you are a beginner, you can start out with their preset strategies. Otherwise you can customize your own. 

Make sure you are comfortable setting up this bot yourself. You should have experience and comfortability with code and installing your own program. 

Features

  1. Inbuilt trading strategies: Gunbot comes with numerous inbuilt trading strategies that include Step Gain, Gain, Ping Pong, and Bollinger Bands. Many users report that BB is the most profitable strategy.
  2. Customizable: You can customize the strategies and align them to your trading style.
  3. Lite version: This bot has a Lite version that offers limited features that you can use it to experiment with smaller amounts.
  4. venient location.

Platforms

This crypto trading bot is compatible with the following major exchanges:

KuCoinKrakenBinance
BittrexHitbtcBitfinex
CobinhoodBitmexHuobi
CEX.ioPoloniexCoinbase Pro
Tradingview  

and more exchanges from CCXT library

Gunbot Pricing

Gunbot offers four price packages depending on the features you want on the bot. The service is currently offering a 50% discount:

  1. Gunbot – Starter edition (0.02 Bitcoin, Regular price: 0.04 BTC)
  • For 1 exchange
  • 3 trading strategies
  • Unlimited pairs
  • Switch between exchanges anytime
  • Telegram integration
  • 200 Gunthy tokens
  • Chat & email support
  1. Gunbot – Standard edition (0.05 Bitcoin, Regular price: 0.10 BTC)
  • All Starter edition plus:
  • All trading strategies
  • Cryptosight
  • 500 Gunthy tokens
  • Indicators
  • Additional trailing
  • Margin trading
  • Dollar cost averaging (DCA)
  • Reversal trading
  • AutoConfig
  1. GunBot – Pro edition (0.075 Bitcoin, Regular price: 0.15 BTC)
  • All Standard edition plus:
  • 3 Exchanges included
  • 750 Gunthy tokens
  • Backtesting add-on
  1. GunBot – Ultimate edition (0.125 Bitcoin, Regular price: 0.25 BTC)
  • All Pro edition plus:
  • 5 exchanges included
  • 1250 Gunthy tokens
  • TradingView add-on

Pros and cons

PROS 

 CONS 

Cryptohopper is one of the most established players in the auto trading scene for several reasons. Firstly, they run entirely on the cloud, so no installation is required making 24/h trading possible. They also have an incredibly intuitive dashboard, and only require a 5 minute set up to start trading.

Cryptohopper is a paid crypto trading bot. But before jumping into the paid membership, you have a free trial for 7 days in Cryptohopper.

One of the well-known trading bots on Cryptohopper is the market-making bot. It’s similar to the Grid Bot in Pionex, but it’s more focused on profit from the spread on the order book.

Features

  1. Easy set up: The bot comes with an intuitive dashboard that only takes about 5 minutes to set up.
  2. External signalers: It’s also one of the few bots embedded with external signalers which allows you to subscribe to professional analysts around the globe – the bot receives the signals directly and uses them in their trades.

Platforms

Currently, the bot can integrate with most major exchanges that include:

HitBTCOKExBitpanda Pro
KuCoinBitvavoBinance
Binance.usCoinbase ProBittrex
PoloniexBitfinexHuobi Pro
Kraken  

Cryptohopper Pricing

Cryptohopper offers three pricing packages with prices ranging from $19 per month to $99 per month.

Explorer Hopper starter – $19/month, or $198,96 per year

  • 80 positions
  • Maximum 2 triggers
  • 15 selected coin maximum
  • Paper trading

Adventure hopper medium – $49/month, or $498,96 per year

  • 200 positions
  • 50 selected coin
  • 5 triggers
  • Paper trading

Hero hopper pro – $99/month, or $999 per year

  • 500 positions
  • 75 selected coin
  • Technical analysis
  • Maximum 10 triggers

Pros and cons

PROS 

 CONS 

Does Cryptohopper Make Good Returns?

Cryptohopper doesn’t guarantee that you will make money with its platform, and no honest bot could do such a thing. The fact is, the crypto market itself contains risks, and trading circumstances can change in just a few seconds’ time.

However, by using the tools offered by Cryptohopper, traders can be more relaxed when investing in digital currencies. There are many people who have made money with Cryptohopper, and you can find loads of reviews due to its popularity.

TradeSanta has been around since 2018, although it wasn’t used by the public until 2019. Since its introduction last year, the platform has become popular with crypto traders and investors.

The platform offers automated trading for its clients. You won’t have to watch the markets and spot trends with you use TradeSanta. It is a good platform for day traders who don’t want to be stuck on their terminal all day long.

Basically, TradeSanta will automate trades that take advantage of market trends. Traders will benefit when the bot is able to identify a trend and trade it with their tokens. This saves loads of time and also lets traders have more freedom in their lives.

TradeSanta allows traders to work with a platform that they trust 100%. It will work with some of the most popular crypto exchanges in the world.

The platform is based in the cloud, so traders don’t have to worry about their connection to the internet. A cloud-based platform also lets traders use the platform without any kind of program on their computer, which is a nice feature.

TradeSanta might not have as many features as other entries on this list – however, you can do quite a bit for free, and its services are high-quality. There are 7 exchanges currently supported on TradeSanta, with BitMEX coming soon.

Features

Automated options on TradeSanta include:

  • Long bot template – when you expect the asset value to rise.
  • Short bot template – when the price is projected to fall.
  • Custom template – you have the freedom to maximize the bot’s abilities with custom tools.

Additionally, TradeSanta offers technical indicators (including Trade filter, Volume filter, and Bollinger signal), an extra orders feature, buying coins for a commission, etc. You can also set the bot to enter trades at the market prices, buy more of the asset as the market goes against a position, and much more.

Strategies

What distinguishes TradeSanta from the competitors is technical analysis tools the bots use to initiate the trade.

Bollinger measures volatility and sends trade signals when the current price hits the top or bottom band. 

Martingale is an automatic increase in the volume of each extra order by a factor of 1.05 to 2. So every subsequent additional order will have a bigger volume than the previous one. 

Performance

One of the biggest problems for professional traders is the need to follow and trade manifold markets 24/7 simultaneously. 

With TradeSanta’s Maximum plan, you can run an unlimited number of bots day and day out based on pre-programmed strategies of your choice.  

The service gives you a chance to cover as many markets as you wish on top of the most prominent exchanges.

Security

The TradeSanta team does everything to protect its users’ accounts and personal information. For example, they conduct regular security audits of the TradeSanta website and work only with the exchanges that have a reputation for setting high standards.

The API keys only allow the bot to trade, and the team cannot access users’ funds or withdraw them.

For extra security, you might also want to enable 2FA, choose a secure password, or check API permissions on your exchange.

Pros and cons

PROS 

 CONS 

TradeSanta Pricing

TradeSanta offers four tiers of pricing:

  • Minimum for free – Aside from providing only two bots, other features are included in the plan
  • Basic for $14/month (when purchased annually) – Gives you access to 49 bots. Before purchasing, you can sign up for a three day trial
  • Advanced for $20/month (when purchased annually) – Gives you access to 99 bots
  • Maximum for $30/month (when purchased annually) – Unlimited functionality, including all bots.

The bot connects to several of the  biggest crypto exchanges, including HitBTC, Binance, Bitfinex, Bittrex, Huobi, etc. It doesn’t have the most extensive range, but users are promised that more will be added in the future.

CryptoTrader is an auto-trading platform for cryptocurrency traders, based entirely in the cloud. That enables users to access the services at any place, any time, provided they have an internet connection. There’s no need for specific hardware.

Anyone considering using this cryptocurrency trading bot is required to sign up via the website, through a fairly simple process. You can log into your account with a username and password, and once you’ve done this, you can choose which plan you want to sign up to. You’ll be able to start implementing those strategies that suit your trading goals best and orient your bot before you actually put it to use.

CryptoTrader includes a number of key features:

CryptoTrader is based in the cloud: As the whole of this cryptocurrency bot is cloud-based, it undertakes online operations only. There’s no need to invest in expensive hardware or software to utilize the bot — just an internet connection and a web browser.

Multi-exchange support: As CryptoTrader includes a number of exchanges on its control panel, you can connect multiple accounts and allow the bot to take responsibility for the trading itself.

Live trades: CryptoTrader’s servers offer fast operation, imposing no lags or delays. Another key benefit is that this bot can detect price changes instantly, with impressive accuracy.

Take advantage of backtesting: With CryptoTrader, you can utilize backtesting to identify the right strategies for you before you take them live, running any strategy that appeals to you with previous market conditions in effect.

Features

  1. Market place: The bot has a ‘market place’ where you can sell your strategy or buy trading strategies from other developers.
  2. Live trading &backtesting: CryptoTrader also enables live trading and backtesting in many of the key exchanges. 
  3. Test against market conditions: CryptoTrader allows you to test your strategies against backtested data and prevailing market conditions. It keeps you on top of the market by updating you on market events and trends through text and email notifications.

Platforms

 It’s supported in the key markets including

  • BTCC,
  • Bitstamp
  • Coinbase.

Cryptotrader Pricing

The bot’s monthly charges range between 0.0018 BTC and 0.0221 BTC per month.

Available plans:

Basic+: from 0.0018 BTC per month

Regular: from 0.0025 BTC per month

Pro: from 0.0047 BTC per month

VIP: from 0.0088 BTC per month

Premium: from 0.0221 BTC per month

Pros and cons

PROS 

 CONS 

How Safe is CryptoTrader to Use?

CryptoTrader is very safe to use. Why? For starters, it has no access to your funds and you’re not required to transfer your money via CryptoTrader at all.

CryptoTrader functions on an API integration which enables it to conduct trades on any supported exchange, which actually generate the API keys. These provide the trading bots with access to user accounts, and they can perform trades without gaining withdrawal rights.

As a result, if a security breach strikes, any malicious users would be unable to access your money. Emails, personal details, and other data types are protected at all times.

Shrimpy emerged on the market, in 2018, and has quickly gained popularity in the trading community. The founders had the goal of attracting people who couldn’t afford expensive bots. This is why they offer a good range of services for free.

All business operations are conducted transparently. If there is anything to update users on, the team puts out statements on their social media accounts.

Shrimpy is a social index-trading cryptocurrency-focused platform, based on comprehensive portfolio tracking and index automation in the long term. It incorporates some impressive tool and strategy combinations, which help to make it unique.

Furthermore, the Shrimpy social trading function brings cutting-edge dimensions to cryptocurrency index-trading and collaborative investing.

Features

The primary feature of this tool is a built-in auto trade algorithm that can place orders on your behalf. Aside from automating the trading process, Shrimpy can offer a decent range of additional features:

  • Rebalancing – Instead of merely buying and holding crypto, this feature realigns your portfolio of assets for the maximum gain.
  • Backtesting – Analyze your potential strategy and compare it with historical results.
  • Social trading – Follow and copy other traders’ actions and their portfolio allocations

Shrimpy Pricing

Shrimpy offers three plans:

Holder — free

Professional — $13 per month

Enterprise — customizable rates available

Pros and cons

PROS 

 CONS 

How Safe is Shrimpy?

The Shrimpy team developed the platform with privacy and security in mind, so it utilizes FIPS 140-2 validated hardware security modules to ensure each API key is encrypted and stored efficiently. Your exchange API keys will be kept safe.

As Shrimpy can only read data and make trades, it’s unable to withdraw funds from your exchange. It also advises users to leverage the Two Factor Authentication for greater peace of mind.

What Support Channels are Available?

Shrimpy has cultivated an active community across multiple sites, including Twitter and Discord. If you want to join the community and discuss Shrimpy with fellow users, the team makes it easy.

You can access support through the aforementioned channels, as well as via live chat on the website.

Zignaly is another cloud-based platform requiring no installation or server updates. External signal providers (there are currently more than 20 providers) are part of the platform and help users automate the trading process.

Exchanges Supported

Zignaly focuses on one exchange, namely, Binance. Over the medium term, the platform is in the process of adding more exchanges to its lists such as Bittrex, Poloniex, and KuCoin.

Since Binance is one of the world’s biggest exchanges of cryptocurrency, many customers have no problem with it. Most people with the willingness and means to use cryptocurrency might easily turn to Binance and set up their accounts, even if Zingaly’s bot trading services are not a part of the equation.

Limitation exchange options, however, gives Zignaly a unique drawback.

Given that Binance may soon stop supporting US cryptocurrency traders in favor of a dedicated exchange, due to compliance with legislation, those in the US will be unable to access Zignaly’s services unless the platform provides support to additional exchanges.

This is a potential problem for those who live in the United States or have a US visa because they will not be able to access foreign exchange facilities legally. That is quite a problem. As a consequence, Zignaly’s offerings would be limited to non-US users. Adding more exchanges is a solution for the platform, and Zignaly should do it as soon as possible.

Features

Here are the main features that make this an attractive tool for traders:

  • Crypto signals – The platform features third-party signalers, including Mining Hamster Signals, Crypto Base Scanner, and others of this type. These providers are actually industry professionals that analyze market fluctuations and predict favorable conditions for profits.
  • Trailing stop-loss – This feature is not something most exchanges offer, but it is one of the most popular strategies. It helps you profit from the market upside without the risks of losses from the crypto market upside.
  • TradeView bot – Zignaly connects to your TradingView account. TradeView bot allows you to utilize custom trading signals in combination with automatic indicators.
  • No limit on trades – There are no limitations on cryptocurrencies you can trade. It gives traders a lot of freedom to choose.

Zignaly Pricing

Zignaly offers only one pricing tier of $15.99. At this point, this subscription gives you access to priority support, unlimited coin pairs, and positions. In the future, the company assures there will be unlimited exchanges.

At this point, Zignaly only supports Binance. It might present limited opportunities to traders, but the recent announcement stated that they are planning to add Bittrex as well.

Pros and cons

PROS 

 CONS 

Am I Safe With Zignaly?

In accordance with other trading bots and platforms, Zignaly has no direct access to funds from the customers. The operation runs only through the exchange that the trader uses it with.

As the platform now supports Binance only, it uses its API to connect to the exchange, but will not allow it to take funds from the trader’s account.

Zignaly is also warning clients not to provide withdrawal authorizations through the API. As a result, customer funds are not directly accessible. This guarantees security and prevents the funds from malicious attacks.

Can I Make Profits with Zignaly?

When looking around Reddit and BitcoinTalk, it’s easy to find positive vibes from people who are using Zignaly. Most of the people who already used the platform are pleased with the profits they receive and happy to come back for more.

Overall Zignaly stands out as a great crypto trading bot that offers investors a lot of tools for next to nothing. It is limited by the fact that it only works with Binance for the moment, but if you like that exchange, it is worth your consideration.

ProfitTrailer is a server-based technical trading bot that executes over 16 strategies. You can choose between bear market, bull market, and neutral market strategies. It has a sleek layout that makes it easy to use key features such as Dollar Cost Averaging which helps you dispose of low-performing assets. ProfitTrailer is a great option for advanced traders, but you can toggle between the advanced and basic strategy editors when developing your trade strategies.

Exchanges

Poloniex, Bittrex, Binance, BinanceUS, Binance Futures, Binance Jersey, Binance DEX, Kucoin, Huobi, BitMEX, Bybit

Features

Before deciding what the tool is for, consider these features:

  • Technical analysis with specific indicators – It includes Moving Average Convergence/Divergence, Bollinger Bands, Relative Strength Index, Simple Moving Average, and some other well-known trading strategies.
  • Mobile-friendliness – The platform can be accessed on Android and iOS without losses in graphics or speed.
  • Virtual private server – Normally, VPS comes with an extra cost. ProfitTrailer, on the other hand, includes VPS in three out of five pricing plans to provide a fully managed hosting environment.
  • Live chat – The brand offers multiple channels of communication, including live messages, support tickets as well as educational materials like a detailed FAQ section and video guides.

ProfitTrailer Pricing

ProfitTrailer lets you choose between five packages varying in API key slots, trading settings, configuration saves, buy-sell strategies, and some other features. Prices start from €25/month for the ‘signals edition’ plan (€449 for a lifetime subscription) and go up to €99/month (€1,299 for a lifetime deal).

The platform gives you access to automated trading on Binance, BitMEX, Huobi, Bittrex, Kucoin, and Poloniex. ProfitTrailer supports all coins listed on these platforms.

Pros and cons

PROS 

 CONS 

When it comes to building your own trading strategies Kryll.io leads the market with their outstanding UI. Their strategy editor offers an intuitive drag and drop interface that allows you to build a trading strategy graphically. You can then try out your strategy in demo mode for free; you only have to pay once you start using it for real trades.

Kryll has a very active trading community which makes their Marketplace a competitive feature for the platform. If you think you’ve created a winning strategy, you can choose to publish your strategy in the Marketplace and earn commission from every trader that uses it. Beginner traders might want to start with renting a strategy from the Marketplace. 

Exchanges

Binance, Binance.us, Bitstamp, Bittrex, HitBTC, Kraken, KuCoin, Liquid 

Features

Kryll.io has certain characteristics that make it stand out from other similar projects, such as:

  • What-You-See-Is-What-You-Trade concept – The technology behind all strategies is made as simple as possible. It ensures control of the strategies, even advanced ones.
  • Drag-and-drop editor – With this feature, you can create custom strategies by picking functional blocks. The right combination of these blocks can make a powerful one-of-a-kind strategy.
  • Kryll Marketplace – If you don’t feel confident about creating your own strategies, you can browse ready-made strategies. All the results and statistics about these strategies are made public.
  • KRL earnings – Income generated from the activity on this platform is received in KRL, Kryll.io tokens. If other users utilize your strategy, the earnings are also in KRL.

Kryll.io Pricing

Kryll.io requires no paid subscription. If you want to create a strategy and test, you will not be charged for it. But whether you use your strategy or someone else’s, it will come at a fee. The fees depend on the amount of KRL tokens you are holding. For example, if you hold 200,000 KRL, you will receive a 95% fee discount.

The tool supports Binance, Bittrex, Poloniex, HitBTC, BitStamp, and other exchanges. With further development, there should be a more extensive list of available platforms.

Pros and cons

PROS 

 CONS 

Exchange Valet is a desktop app available to Windows, Mac, and Linux users. The app is mainly focused on automated trading functionality. Unfortunately, there is little information known about the team behind this project.

Unlike many of the other trading bots on this list, Exchange Valet is more of a trading toolset and crypto portfolio management platform. Most crypto exchanges don’t give traders a ton of tools to use. Exchange Valet is filling in the gaps with commonly used trading tools like simultaneous stop loss and take profit orders.

If you are used to using a trading platform like MT4 or MT5, the ability to set simultaneous stop loss and take profit orders is taken for granted. Many exchanges don’t support either order type, or allow traders to use both at the same time.

Exchange Valet lets you set both stop loss and take profit orders at the time time, which is extremely useful for active traders.

Let’s say you want to open a position in BTC, but your expectation is that it will rally for another 10%. If you are wrong about the direction of the BTC market, there is no need to stick around and watch your trading capital get eaten up by a nasty downward price movement.

Exchange Valet’s platform would allow you to open up your BTC trade with both a stop loss and take profit order at whatever price level you like. If you are correct, and BTC rallies by 10%, Exchange Valet will lock in that profit by selling the position. If you got it wrong, your stop loss will keep a volatile market from blowing up your trading account.

Features

The range of trading tools available on Exchange Valet includes:

  • Stop loss and take profit, which is usually provided by similar solutions;
  • Limit panic sells, trailing stop-loss orders, and simultaneous stop-loss/take-profit orders, which is not something you can always get;
  • Speed Trade feature so that you lose profitable opportunities;
  • Pie charts that provide visual representation when you look up your funds’ asset allocations.

For users who are not well-versed in cryptocurrency, there are many educational resources on the platform. Along with FAQ articles and tutorials, users can connect to their Telegram and Discord to remain updated on all the news.

Exchange Valet Pricing

Exchange Valet doesn’t offer varying functionality across different pricing tiers. Instead, there are different billing terms – one month for $29, three months for $75, and a yearly subscription for $250. For any of the packages, you can request a 14-day trial.

Currently, you can automate cryptocurrency trading on Binance and Bittrex exchanges. For traders who want a wider variety of options, it might be a problem.

Pros and cons

PROS 

 CONS 

Quadency is a digital asset management platform that provides automated trading and portfolio management solutions for both retail and institutional traders.

The platform incorporates a comprehensive range of features designed to streamline the process of trading and investing in cryptocurrencies. These include a variety of trading bots that come pre-configured or can be customized as desired, advanced charting, and portfolio analytics.

Supported Exchanges   

Quadency currently supports trading and chart integration with over ten popular cryptocurrency exchanges, and these include:

  • Binance
  • Binance US
  • Bitfinex
  • Bittrex
  • Coinbase Pro
  • Gemini
  • HitBTC
  • Kraken
  • Kucoin
  • Liquid
  • OKEx
  • Poloniex

Full automated trading is currently supported on Binance, Bittrex, Kucoin, Liquid, and OKEx with additional exchanges expected to be added in the near future.

The best part of Quadency is the backtesting feature, with which you can do it based on data and numbers instead of shooting it in the dark. It’s also the most important feature for crypto trading bot; it’s always nice to know the performance upon history data before using your money with the crypto trading bot.

Quadency features an all in one dashboard used for portfolio tracking. On this dashboard, you can track your overall portfolio performance and allocation on all linked exchanges. User can also add their offline wallets to keep track of their whole portfolio.

The Portfolio tab allows you to get more information about your portfolio per crypto asset: open orders, trades, history & transfers.

Features

  • Functionality – Quadency operates as a web-based solution and incorporates a clean design and UI that appeals to traders of all levels. Despite this, the main dashboard contains a comprehensive range of features that allows anyone to make use of automated trading bots and monitor their portfolios from one account interface.
  • Technology – The platform works via API integrations with over 10 supported exchanges and Quadency makes use of a Unified Crypto API which allows for standardized streaming and interactions via REST. This also allows anyone to access both the latest and historical market data such as OHLCV for plotting candlestick charts or backtesting strategies.
  • Range of Tools – The platform incorporates a range of analytical tools, and advanced TradingView charting designed to enhance crypto trading for every level of user. Trading bots make use of popular market, limit, and stop order strategies, and readymade Grid Trading, Market Making, MACD, RSI, Bollinger Band, and Smart Order bots are also available.
  • Range of Plans – The service can be used for free by signing up for a Hodler account, and can be used extensively without any payment. A Pro paid subscription costs $49.99 or 39.99 per month depending on how you opt to pay, and leads to higher trading limits, multiple bot usage, and more extensive backtesting.
  • Customer Support –Quadency provides a good level of customer support, and the Support Center contains a range of guides and articles, as well as an FAQ section. The team also maintain an official blog, alongside an active Twitter account, and Telegram group. They can also be contacted by live chat and email.

Quadency Pricing

Quadency offers 3 plans: HODL, Pro & Institutional.

1. HODL plan is free.

  • Run 1 bot at a time & backtest up to 10 configurations per day.

2. Pro Plan starts at $39 paid annually or $49 paid monthly.

  • Get access to limited Pro features like Smart Suggest.
  • Run up to 10 bots at a time, backtest up to 100 configurations per day and enjoy unlimited trading volume.

3. Institutional is priced at $199.

Bitsgap is best known for its unique automated trading bots. Thousands of traders with different experience and skill sets are using Bitsgap on a daily basis to maximize returns by automating their trading.

The algorithm implemented by Bitsgap is based on a simple and effective technique, called GRID. It distributes investment proportionally within a trading range predefined by a trader.

Each time the buy limit order is filled, a new sell order is placed by the bot right above that price. And vice versa, a new buy order is placed below any filled sell order. As long as the price stays within the borders of the trading range, the bot will be trading non-stop.

Bitsgap algorithm is designed to maximize profit from buying low and selling high each time the price swings. Automated bots have all the risk-control features like Stop-loss, Trailing UP, Take profit, and several exit strategies.

Check this video to learn how does the Bitsgap crypto trading bot work:

  • A cloud-based solution, so you don’t need to download anything
  • Trading bots are based on a transparent and efficient logic
  • Risk-free trading simulator in DEMO mode
  • Backtested Strategies for a quick bot start
  • 14-Day Free Trial

Features

The following features are just an iceberg’s tip of all the great, ready-to-use features available on the platform.

  • Arbitrage — Traders can maximize the price difference between two or more exchanges.

Bitsgap Pricing

Bitsgap provides three subscription plans. All the plans come with 14 days free trial.

If you are a beginner we recommend you start with the Advance plan because it included the arbitrage feature. You can get more what you pay for the Bitsgap if you were able to successfully execute an arbitrage.

Pros and cons

PROS 

 CONS 

NapBots seeks to democratize quantitative trading giving direct access to professional algorithmic crypto trading strategies in a plug n’ play style, so their users don’t have to worry about having any type of skills to be able to use this platform.

Based on the trading frequency(weekly, daily & hourly) users can choose from a variety of in-house made crypto trading strategies to automate their trading and allocate their funds. Many NapBots customers choose to diversify between multiple strategies to reduce risk, others prefer to stick to one crypto strategy. Easy to take in hand, NapBots is addictive. You are investing and having fun!

NapBots makes you trade like a pro and give you instant access to professional crypto trading strategies in 3 simple steps:

  1. Connect your crypto exchange.
  2. Select the crypto strategies of your preference.
  3. Relax, and let the bot do the hard work.

NapBots is part of the Napoleon Group which is a French group of companies founded by former multi-billion asset managers at Tier 1 banks, who have designed, created, and run high-performance trading bots for the past ten years.

What Exchanges are compatible?

Napbots is compatible with five big exchanges: Binance, Bitfinex, Bitmex, Kraken, and Bitstamp. Shortly to add OKEX and Huobi. Such 5 exchanges offer all the crypto-trading pairs necessary.

Some were chosen for their demonstrated protection, others for their liquidity which is an essential trading function. Connecting Napbots to exchange is achieved in one simple move.

On the chosen Exchange you merely need to create an API key directly from your account and fill it in on Napbots’ website.

Trading strategies offered by Napbots

Napbots began designing quantitative crypto-strategies three years ago, and in April 2018, the team presented its first strategy to its audience.

Since then the team has introduced 14 more strategies. Napbots’ strategies use price as the principal source of knowledge. The team offers both trend-following and mean reversal approaches through various time horizons (weekly, daily, and hourly).

In addition, the team has built model groups, which can be repeated for testing purposes on several cryptos. Each of the techniques has its definition, and it also includes some essential KPIs before you pick them.

NapBots Pricing

This automated trading software will charge the subscription depending on the amount traded. For example, if you choose the silver subscription with 1000 euros to trade, nowadays, there is a promotion for 7 euros per month.

If you compare to other trading software the price it’s in the same range. However, If you want to go for the platinum subscription it’s 99 euros with the ability to trade up to 5000 euros.

Pros and cons

PROS 

 CONS 

HaasOnline is a paid crypto trading bot platform that is unlike any other. Similar to the other trade bots mentioned, they offer your standard pre-built trading bots for strategies like arbitrage and market-making, and other tools.

HaasOnline is one of the oldest and most reputable automated trading companies in crypto. Their distinguished reputation comes from their trade automation software that has been executing trading strategies for crypto traders since 2014.

However, with the release of HaasScript, their scripting language, you can develop highly complex trading bots using a drag-and-drop designer or intelli-sense editor. You also have the ability to backtest or paper trade your strategies before executing live trades on over 25 exchanges.

Their current product is a locally hosted non-custodial trade server, which offers complete discretion and privacy, keeping prying eyes away from your trade data and strategies. They also plan to launch a cloud version for retail traders. There’s no free trial, but they do offer a discounted 14-day trial license.

Exchanges

Binance, Bilance Futures, Binance.us, Bitfinex, BitMEX, Bitpanda Pro, Bitstamp, Bittrex, Cex.io, Coinbase Pro, Deribit, Gemini, HitBTC, Huobi Global, Ionomy, Kraken, Kraken Futures, KuCoin, OkCoin, OKEx, OKEx Futures, Poloniex.

HaasOnline Pricing

Haasonline offers three packages for a one time payment of .047 BTC for Beginner, .083 BTC for Simple, and .135 BTC for Advanced. They do not offer a completely free trial, but you can try their premium plan for 2 weeks at a discount.

HaasOnline does not currently offer a free trial. However, they offer a discounted 2-week trial license, which can be used to test the full software suite without such a large commitment. We also offer public instances setup for you to test configuring HaasBot trade bots within our software.

Public Servers: Credentials:

HaasOnline Trade Server license price starts from 0.047 BTC. If you are a beginner you should start with the beginner plan.

Pros and cons

PROS 

 CONS 

4C-Trading is a platform that offers subscriptions to several crypto trading tools. Their approach is a little different than other platforms as you have to start with the Trade Room package before you can add-on bots and signals, but it’s founded in a commitment to creating an educated user base. The Trade Room includes a training module for beginners, a new trading tutorial every day, and access to three TradingRoom indicators, a custom built Trend Follower indicator, and the weekly market Diamond Report. A monthly subscription to the Trade Room is $99 or $900 for the year. 

With a Trade Room subscription, you’ll have the option to subscribe to bots and signals. The Telegram-integrated Smart USD Trading Bot is a great option for new Binance traders with fully-automated trading on the BTC/USDT pair. This bot was designed with newbies in mind who want to steadily grow their portfolio. With this comparison chart, it’s clear they’re focused on serving HODLERS who would otherwise keep their BTC in a cold wallet.

Another great tool for new traders is the subscription to Copy Trade trading signals for Binance and Bitmex. With a subscription, you can expect to receive around 20-30 signals through Telegram per month with the option of automated copy trading through API. For those who want to do their own research, 4C displays the performance and results of their signals within the 4C Dashboard.

Prices 

A monthly subscription to the Trade Room is $99 or $900 for the year. The addition of the Smart Bot is $199 a month or $1788 for the year. Trading Signals are $75 per month or $900 per year.

Coinigy is one of the leading cryptocurrency terminals on the market. Similar to a few others on this list, the Coinigy platform allows you to integrate directly with your exchanges of choice and the trade across all platforms directly from the Coinigy UI.

Coinigy is a cloud-based platform that in addition to web, offers iOS and android apps of its product—allowing users to trade via mobile devices. You can also use Coinigy’s suite of over 75 technical indicators as well as their apps and third party integrations to make sure you never miss a trade.

The Coinigy platform boasts hundreds of thousands of users leveraging its suite of trading tools today, so you know you are in good hands. 

In addition, the Coinigy team has partnered with CryptoTrader.Tax to allow all of its users trading on its platform to have access to easy tax reporting. Coinigy users can import their trades directly into CryptoTrader.Tax and the software will automatically create their needed tax forms based on their historical trade data.

Prices

A monthly subscription ranges from free (for just getting started), to $18.66, to $99. Higher tiers get access to a greater depth of features and tools.

Exchanges

Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, Coinbase Pro, Huobi Pro, Kraken, Kucoin, Poloniex

Botsfolio takes a risk assessment quiz and then recommends the best crypto investment strategy that you can automate. The trading bots are pre-built and strategies are recommended based on your financial goals, risk appetite & financial condition. This makes it easy for the user to trade crypto without any coding or trading skills.

They have bots for 5 different investment styles: Value investing b) Hedged Trading c) Futures Trading d) Index SIP e) Fixed Income. They have automated different investment styles that are used by professional hedge funds and investment banks.

The Hedged trading bot is the most famous as it provides active trading while reducing loss using a hedge.

The setup is very easy because you just have to link your Binance account and the rest is automatically done by Botsfolio.

You get a 1-month free trial and the cost for bots ranges from $1 to $85 per month.

Botsfolio is a unique crypto investing tool that automates trading and investing for the non-technical and non-traders community.

It makes investing in crypto as simple as just linking your Binance account. Once linked, your out of the box bots buy and sell top cryptos (BTC, ETH, and others) to build you a well-diversified portfolio.

The trading bots don’t require any configuration or strategy input, at the start or later. Anyone with a Binance account can use the bots with zero trading or technical skills.

As Weathsimple diversifies your capital into different index funds. Botsfolio diversifies your money into a portfolio of bots (hence the name — Botsfolio) to run using different trading strategies on different time frames.

The Wealthsimple of Crypto

As a user, you get 4 bots out of the box each with its own trading strategy, and they run in parallel. The 4 bots are

  • Long bot — Looks for long term buying and selling opportunities and builds your portfolio over time using 80 to 90% of your net investment. Invests in around 10 cryptos diversified by factors / use cases.
  • Scalper bot — Scalps for small opportunities, making a few bucks every few hours from very small price movements.
  • Swinger bot — Determines price swings in one direction and takes larger positions for longer time frame to profit few times a week or month.
  • Trendy Bot — Looks for clear price movement ranges and trades whenever the market is moving in a clear trend.
  • Hedge Bot — Waits for high volatility to take hedged positions and earn funding from futures until the underlying asset takes a clear direction and then cancels one leg of the trade.

Botsfolio Pricing

The service is priced starting from $18 per month for managing a $1000 investment but bumps up-to $20 per month once all the capital is deployed into the portfolio.

The pricing is lower than most crypto bot services where the user has to set up strategy to run bots. Therefore, Botsfolio is clearly offering more bang for your buck.

The pricing increases as the portfolio value increases and goes up to $72 per month for $50,000 portfolio management.

Pros and cons

PROS 

 CONS 

Mudrex has over 7000 users and over 400 Mn USD traded on it. They are backed by well known VCs and angel investors and have a very active and engagged community. They are connected with 8 of the top exchanges and are some of the very few on this list who are able to support US customers as well.

Mudrex does not build its own bot but instead has a curated marketplace of bots created by pro traders. The best part about the platform is that all info regarding the performance of a bot is public and easy for users to understand.

If you were looking for a platform using which you can invest your crypto, then Mudrex might just be it!

Features

No Code, Drag and drop based strategy builder

This is one of the coolest and most innovative features of the platform. Historically, to automate trading most traders need to learn code and build trading systems on languages like Pine, Python or R. This not only takes 3–6 months to learn but if you want to actually build this out, it might end-up costing >10,000$.

On the other hand, the visual builder provided by Mudrex is a simple tool! You don’t need any special knowledge or learning experience. Just like any other tool, the builder takes 5–10 mins to get the hang off. But once you are there, actions become super easy!

Mudrex Pricing

Mudrex has simple fermium based pricing model. The free plan gives you ample opportunity to build and test whatever you want. As long as you are testing, Mudrex is practically free for you!

The only case where you need to move to the premium plan is if you want to do extensive testing or want to invest a large amount of capital in your trading strategy. In that case, you might want to get the $19 per month premium plan. With the premium plan, you get the first months as a free trial, and you can cancel at any point!

Mudrex accepts credit cards, PayPal, or crypto for payment, so paying fees is as quick and easy as it gets!

Pros and cons

PROS 

 CONS 

Don’t need to hassle with the API Keys while using Pionex. So far, there’re 9 crypto trading bots on Pionex: Grid Trading Bot, Leveraged Grid Bot, Margin Grid Bot, Infinity Grid Bot, Reverse Grid Bot, Leveraged Reverse Grid Bot, Dollar-Cost Averaging Bot, TWAP Bot, and Trailing Take Profit Bot.

Pionex is the exchange with the in-built crypto trading bot. It’s one of the best trading bot platforms for cryptocurrency I’ve ever seen since 2017. (the year I start buying crypto :P) It aggregates the liquidity from Binance and Huobi, and provide a free trading bot upon it.

The trading bot on Pionex is easy to use. And mostly I prefer trading bitcoin with these trading bots. Bitcoin has a higher market cap, and it’s the center of the whole cryptocurrency IMO.

Pionex is safe and has been granted the MAS and MBS licenses from Singapore, and U.S.

Summary

  • In-built Crypto Trading bots — Provides 9 different automated trading tools in the exchange.
  • The Lowest Trading Fees — The bots are all for free while the exchange trading fees is only 0.05% for maker and taker.
  • Excellent Liquidity — Innovative liquidity engine aggregates the liquidity from Binance and Huobi.
  • Regulated — Regulated in Singapore and the United States.

User Experience of Pionex — Mobile First!

Pionex has the best UI/UX for their mobile App among all the Crypto Trading Bot Platforms. They always follow the mobile-first rule, which they released the new features on the mobile App before the website. Checking their app update on App Annie, the most well-known mobile performance data company worldwide, lots of updates for their App with new features. 6 versions in April, and 5 till now in May!

Pros and cons

PROS 

 CONS 

Features to Consider When Choosing a Cryptocurrency Trading Bot

There are some specific key functions to keep in mind when considering a cryptocurrency trading bot. You might come across these functions when researching bots, so it’s important you understand exactly what each one means. 

DCA Bots

DCA (dollar cost averaging) bots follow the DCA strategy, meaning that they invest into an asset at present intervals. This will reduce the entry price over time, allowing the trader to get a more ideal average price for their position- and, in turn, reducing consequential risks from local price movements. 

Let’s look at a practical example. Say you invest $1,000 per month into an asset for five consecutive months. Now, if the prices at the end of each month were $95, $80, $70, $90, and $100, your average price of the asset would be $85.5. If you invested the entire amount in the very beginning, you would have paid $100 per share. DCA Bots can automate this process, thus saving you money.  

Options Bots

Options are high-risk financial instruments that can be tricky to master – thankfully, options bots make it easier.

GRID Bots

A GRID crypto bot acts in a similar manner as a DCA bot. The bot places an initial buy order and then more orders if the price moves in the opposite direction. The primary difference between the two bots is that a GRID bot places a separate take profit order for each buy order – whereas a DCA bot will place one take profit order for all buy orders.

Social Trading

Some crypto bots have social trading features. When a trader uses a social trading strategy, they will observe the trading behavior of expert traders and peers and then follow along. Bots that have social trading hardcoded in will automate this process. 

Marketplace

Some crypto bots have marketplaces where users can buy and sell trading strategies and signals. 

Backtesting

Crypto bots with backtesting features will use historical data to reconstruct trades that would have happened in the past. The final result will offer the trader statistics to gauge the effectiveness of those trading strategies. The underlying theory is that a strategy that worked in the past will likely work in the future. Backtesting crypto bots will do the analysis so that the trader doesn’t have to. 

Trading Securities

Trading securities are stocks and bonds that will be purchased and sold to make money in the short term. These are fast-moving investments, so it helps to have a bot to keep on top of it, since these investments are often traded on a daily basis. 

Stop Loss and Take Profit with Trailing

Trailing stop loss can save you from a lot of losses, as it allows you to rake in some profits even if your trading position doesn’t quite make it to your profit target. It can be seen as a safety net. 

For instance, let’s say that you have an arm trailing stop-loss set to 3% and a trailing stop-loss percentage set to 1%. If your trade moved to +3.5% at its highest and then dropped by 1%, the bot will sell it at +2.5%. Now you have made a 2.5% profit, rather than taking a loss if it had dropped any further.  

Intraday Trading

Securities that are traded during the market’s business hours are considered to be intraday trades. Intraday price movements are important to day traders who want to make several trades during a single session. Day trading bots can help you automate this process. 

Scalping

Scalping is a lower-risk trade strategy used for short-term profits. A bot with scalping features will closely monitor the price of a particular asset and take advantage of fluctuations. A scalping crypto bot will consider three main factors before acting: the Relative Strength Index, support and resistance levels, and the moving average.

Guide to Crypto Trading Bots – Top 4 Trading Bots

#RANK
BOT
PRICE
INTEGRATIONS
#1
from $14.50 Month
Binance Binance DEX Binance Futures Binance Jersey Binance (Margin) Binance US FTX FTX US Bitmex Bybit Bybit Testnet Deribit Bittrex Bitfinex Bitstamp Cex Coinbase Pro (GDAX) Exmo Gate IO HitBTC Huobi Kraken Kucoin Okex Poloniex Yobit
#2
from 0.02 BTC
KuCoin Kraken Hitbtc Cobinhood Huobi Poloniex Tradingview Binance Bittrex Bitfinex Bitmex CEX.io Coinbase Pro and more exchanges from CCXT library
#3
from $16.58 / month
HitBTC OKEx Bitpanda Pro KuCoin Bitvavo Binance Binance.us Coinbase Pro Bittrex Poloniex Bitfinex Huobi Pro Kraken
#4
from 0.02 BTC
HitBTC Binance BitFinex Bittrex UPbit Huobi BitMEX OKex

Conclusion

Cryptocurrency trading bots are vital tools for traders. If you’re capable of adjusting their settings and defining effective trading strategies, your bot can be your best trading tool.

However, some bots are either unreliable or outright scams, and so it is important that you do due diligence before you get one. Read reviews and do your homework to ensure that you choose a trustworthy and reliable crypto trading bot.

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