Cryptocurrency trading bot

Consider the example of “smart order routing.” what exactly can you improve with trading bots?

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Crypto Trading Bot in 2021 | Best 12 Bitcoin Trading Bots, cryptocurrency trading bot.

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Crypto trading bot in 2021 | best 12 bitcoin trading bots

Nowadays, lots of teams provide paid and free crypto trading bots for bitcoin and other cryptocurrency. It’s a hassle for a crypto trader like you and me to choose between these services

When should you use a crypto trading bot?

Many functions that a well-executed bot can conduct for you are rebalancing, portfolio management, data collection, smart order routing, etc.

What exactly can you improve with trading bots? Let’s take a look.

#1 repetitive tasks

Repetitive tasks consume a lot of time and effort. A crypto trading bot will allow you to virtually “copy and paste” specific tasks to conduct trades with ease. One of the best ways where bots can help with repetition is in periodic rebalances. If you want to conduct hourly rebalances, then you’ll need to, as the name suggests, rebalance your portfolio every hour. So, you have two options:

Set the alarm every hour to rebalance the portfolio and lose your sanity in the process.

Create a trading bot and program it to rebalance your portfolio every hour till the end of time.

#2 timing

Timing and achieving a high degree of accuracy in your trading is essential for trading. Every single trade that you make can have an enormous impact on your potential earning. Let’s take an example. Suppose the price of bitcoin is going down, and you want to sell your position the moment BTC hits the $8,750 support line. If you were to do this manually, you’d have to patiently and carefully observe the price chart, and even then, you may not pull the trigger at the right time. The bot can be easily programmed to monitor the market and execute a trade at the correct times.

#3 complications can be simplified

Consider the example of “smart order routing.”

The idea is to route trades through numerous trading pairs.

Every single trading pair needs to be carefully determined as per its timing, asset quantity, and trading price.

This entire route needs to be finished within a specific time-limit before the market conditions change.

It seems pretty easy-to-understand, right? However, the execution of this trade could be nearly impossible. This is just one of the many examples of the several complexities that should be factored in while training. Some strategies could be almost impossible to implement.

Trading bots could be used to automate these complicated and seemingly impossible strategies with ease.

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The best crypto trading bot in 2021

#1 quadency — A smarter way to trade and manage your crypto

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 a crypto trading bot; it’s always nice to know the performance upon history data before using your money with the crypto trading bot.

The best crypto trading bots

Crypto trading bots are gaining traction among crypto investors these days, and no wonder! After all, they’re helping crypto investors bolster their trading strategy and generate high returns on their crypto investments.

Who wouldn’t want to cut down on the time they spend in front of their monitors, carefully eyeing the market, ready to jump at the prospect of any potentially lucrative price movements.

Trading bots generally follow a set of rules and trading strategies chosen and configured by the trader. They track changes in prices, demand, and volume. They can send you trade signals or execute orders automatically.

In our guide, we’ll discuss the importance of these crypto bots in more depth, their pros and cons, and review the most sought-for software on the market right now.

Disclaimer: we may receive a commission for purchases made through the links on our site. However, this does not impact our reviews and comparisons. Learn more about our affiliate disclosure.

Best crypto trading bots: reviews 2021

1. 3commas

Website:3commas.Io

Supported exchanges: binance, FTX, bybit, bitmex, deribit, bittrex, binance DEX, binance jersey, binance US, bitfinex, bitstamp, CEX.Io, coinbase pro, gate.Io, exmo, hitbtc, huobi, huobi russia, kraken, kucoin, OKEX, poloniex, and yobit.

The first type of crypto trading bot is the technical bot that uses various indicators and signals to predict and help you capitalize on the next cryptocurrency market movement. The most popular technical bot is 3commas.

Users can access this cloud-based platform on their computers or smartphones without having to download it. On 3commas, you can customize the algorithmic trading bots based on your trading strategy – use the long bot for bull markets, the short one for bear markets, or a composite one as a mix of the two.

One of their most attractive features is the social copy trading feature. Aimed primarily at beginners, copy trading gives you insight into the trading strategies of other users, lets you monitor and copy them, and later on extend them to fit your own portfolio.

Moreover, 3commas is popular for its smart trade feature called trailing stop tool that keeps your position open even if you reach the desired target gain so that you can make a profit if there’s a sudden price increase. If the price starts falling, the trailing stop automatically closes your position.

With their take profit and stop-loss orders, you can simultaneously set the selling price point for when you want to make a profit and when you want to stop losses.

Pricing

3commas offers several packages for purchase. If you’re only interested in spot and futures, the starter package costs $14.50 per month or $174 per year. For more experienced traders the monthly price of the advanced package is $24.50 or $294 per year.

There’s also a pro package for $49.50 per month or $594 for the whole year. This package supports margin trading, includes composite bots, bitmex and binance futures bots, and a GRID bot. This package also features a selection of free trading courses.

Novices can try out their paper trading feature during a three-day free trial to familiarize themselves with the bots and plan out their strategy.

2. Cryptohopper

Website:cryptohopper.Com

Supported exchanges: 13 exchanges incl. Hitbtc, OKEX, bitpanda pro, kucoin, bitvavo, binance, binance US, coinbase pro, bittrex, poloniex, bitfinex, huobi, and kraken.

Cryptohopper is another cloud-based crypto trading bot that’s used by thousands of traders around the globe.

The platform is suitable for both beginners and seasoned traders. It has a range of advanced trading features such as backtesting, trailing stop-loss, stop-buy, stop-short, and dollar cost averaging. It features its own tutorial section with extensive educational materials, video courses, and a learning academy to help new users make the most out of crypto trading.

They can customize their own trading strategy with cryptohopper’s strategy designer that allows traders to choose out of its list of 30 technical indicators and 90 candlestick patterns. If you want to try their services but don’t want to risk losing your funds from the start, you can try the simulated paper-trading feature.

Moreover, cryptohopper was the first platform to automatize the process of receiving crypto signals, i.E. Technical analysts who closely follow the market to spot promising crypto assets and earn money by sharing their predictions with subscribed traders.

Now, when technical analysts or “signalers” working for cryptohopper send out trade signals, the hopper bot picks them up and executes a buying/selling order (provided you subscribe to one/some of them first). As a result, traders can spend less time on the trading terminal

Pricing

Cryptohopper offers a free pioneer package for all users that gives you access to 20 positions, manual trading, and portfolio management.

However, if you want to get a real taste of crypto trading with a trading bot, we recommend upgrading to one of these packages:

Explorer starter package.

For $19 per month, you get 80 positions, maximum of 2 triggers, maximum of 15 selected coins, one simulated trading bot, and paper trading.

Adventure medium package.

For $49 per month, you get 200 positions, 5 triggers, 50 selected coins, one simulated trading bot, exchange arbitrage, and paper trading.

Hero pro package.

For $99 per month, you get 500 positions, 10 triggers, 75 selected coins, technical analysis, market arbitrage, and algorithm intelligence (BETA).

3. Haasonline

Website:haasonline.Com

Supported exchanges: 20+ exchanges incl. Binance, binance 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, and poloniex.

Haasonline was launched in 2014 by stephen de haas. Unlike many other platforms that avoid revealing the identity of their founders, the haasonline team is known for its transparency and active social media presence.

Until 2020, users had to download and install the haasonline trade server (HTS) and set up an account. This was time-consuming and required some technical background on the part of the user which is why the platform launched its cloud version this year and simplified the whole signing up process.

Haasonline belongs to the group of market-making bots. What these bots do is they place buy and sell orders in an attempt to score a quick and easy profit for you. For example, if your target crypto asset is trading for $100, the haasbot will create a $90 buy order and a $110 sell order. In case one of the orders gets executed, you’ll earn $10.

Similarly to 3commas and cryptohopper, haasonline also offers copy trading and the option to subscribe to technical analysts’ signals. It has advanced backtesting that makes it possible to go 56 weeks back to track the accuracy of some trading strategies.

Pricing

On haasonline, you can subscribe to a 3-month, 6-month, or 12-month trading plan and choose between a beginner, simple, or advanced account. Unlike other platforms, haasonline only accepts BTC payments.

The beginner plan costs 0.073 BTC per year. You get 10 trading bots, access to 11 insurances, 10 safeties, over 20 indicators, restricted core features, chat and ticket support, and a $100 VPS credit.

The simple plan costs 0.127 BTC annually with 20 trading bots, access to 13 insurances, 20 safeties, over 40 indicators, unlimited trades, no fees, restricted core features, chat and ticket support, a $100 VPS credit, and a visual editor.

Finally, the advanced plan costs 0.208 BTC per year offering unrestricted trading bots, insurances, safeties, indicators, and core features, unlimited trades, zero fees, chat and ticket support, a $100 VPS credit, and a visual editor.

4. Shrimpy

Website:shrimpy.Io

Supported exchanges: binance, binance US, bittrex, kucoin, coinbase pro, poloniex, kraken, bibox, gemini, huobi, hitbtc, bitmar, bitstamp, OKEX, and bitfinex.

Shrimpy was founded in 2018 by matthew wesly and michael mccarty whose vision was to create a platform that would encourage more people to join the crypto market by allowing them to make crypto trades easily and effectively.

Shrimpy became famous for its automated trading tools and interface and the immediate support it got for leading crypto exchanges. However, what really sets this platform apart is the portfolio auto-rebalancing tool. Although this tool is frequently used in the stock market, shrimpy was the first to introduce it to the crypto market.

Instead, they can realign and specify the weightings of each crypto asset’s value from their portfolio. The shrimpy trading bot would periodically buy or sell these assets to maintain the desired asset levels, i.E. Automatically rebalance them. This is a great strategy to capitalize on sudden crypto rallies. Thanks to the effectiveness of this tool, users no longer have to rely on the buy and hold strategy.

Shrimpy has two main portfolio rebalancing types: time (periodic) and threshold rebalancing. If you choose the first one, shrimpy will rebalance your portfolio daily, weekly, or monthly depending on your preference to achieve your desired crypto weightings. Threshold rebalancing means that when one of your cryptos deviates from the desired percentage by a predetermined amount (e.G. 10%), shrimpy will get you back on track and rebalance your portfolio.

To explore the potential of your strategy, you can use their backtesting services. You can emulate the strategies of other traders with their social services or simply observe them with shrimpy’s insights.

Pricing

Shrimpy offers a monthly membership for its services. The hodler account is free but this subscription allows you to create a portfolio, monitor and track your performance, and link the portfolio to support exchanges.

The professional account costs $19 per month or $13 if you subscribe for one year. Upgrading to a professional account really pays off because you’re allowed to use all trading tools and services including portfolio management and tracking, index builder, rebalancing, backtesting, and social features, and advanced account setting (IP whitelisting).

There’s also enterprise pricing for businesses and crypto companies looking for more customization on shrimpy’s services. You just need to contact their team to agree on the terms and conditions.

The 10 best bitcoin trading bots 2021

In this article skip to section

As the bitcoin market has grown in popularity, so has the use of bitcoin trading bots.

These are software programmes that interact with bitcoin exchanges to analyse trading data and then use this information to place buy or sell orders on behalf of the user.

The bots act on a predetermined and pre-programmed set of rules to monitor activity in the markets.

Bots may come with trading strategies ready installed, but the user can also customise the bot according to their preferences.

There are now many bitcoin trading bots available, some for free and some in exchange for a subscription fee.

In this article, we have brought together 10 of the best bitcoin trading bots.

We also look at some of the advantages and disadvantages of using a bot and explain what to look for when choosing a programme.

Why you should consider using a bitcoin trading bot

The cryptocurrency market is known for being highly volatile. It also never closes.

This can make bitcoin and other cryptocurrencies very profitable when traded wisely but also increases the risk of significant losses.

A bitcoin trading bot can help to mitigate some of these risk factors.

Unlike humans, bots will only make trades based on the data and trends available, so emotions and impulses are eliminated from the decision-making process.

Bots can also operate around the clock, so the user can continue trading even while they are asleep or otherwise occupied.

Trading bots also have the advantage of being able to work faster and more efficiently than a human trading manually.

When specified correctly, they can analyse data and execute trades across multiple exchanges and multiple cryptocurrencies.

What are the pros and cons of using a bitcoin trading bot?

It is important to remember that a trading bot is not a silver bullet.

The right bot used effectively may help to increase your profits but there are also several drawbacks and risks to consider before deciding to install a bitcoin trading bot.

They eliminate emotion. Huge price fluctuations in the bitcoin market can lead human traders to make erratic and impulsive trades. Trading bots remove this risk by placing orders only according to the data available and their predetermined set of parameters.

They are highly efficient. While human traders can only study one cryptocurrency market at a time, bots can scan and analyse several simultaneously, spotting opportunities that a trader might otherwise miss.

They are fast. Speed is of the essence in the fast-moving world of cryptocurrency. It can take time for a human to carry out a trade, and all the while the trade may be losing its value. But bots can place orders instantly, taking advantage of opportunities as soon as they arise.

They run around the clock. Even the most dedicated bitcoin trader cannot sit in front of their computer all day and all night. A bot will carry on monitoring the market and making orders in their absence, so they never have to stop trading.

They need monitoring. You can’t just set a bot running and forget about it, you will still need to keep an eye on how it’s performing and make adjustments as needed. Also, a bot will not take into account external factors that may affect the market, such as world events or breaking news, so may make poor trades without input from a human trader.

They require some experience and knowledge. Although bots may come pre-set with trading strategies, most perform best when reconfigured to the user’s specifications. So the user will need to have an understanding of how the market works and the technical aspects of trading with a bot.

They can present a security risk. Bitcoin trading bots communicate with exchanges through application programming interfaces (apis), which means two machines are working together without human intervention. The centralized nature of bots and exchanges can make them vulnerable to hackers so you will need to take steps such as keeping your API key secret and switching off automated withdrawals. You should also check the security record for any bot you are considering.

Things to consider when choosing a bitcoin trading bot

Reliability

One of the key attractions of a bot is its ability to continue trading around the clock.

If your bot keeps going offline or suffers from other glitches, you will miss out on opportunities.

Check its reliability by reading reviews from other users.

Security

As mentioned above, hackers target trading bots and exchanges so it’s crucial to ensure that your bot is as secure as possible.

Look for one that has a good track record for security.

Check that the team behind the bot is credible and legitimate and that there is an active community of satisfied users.

Ease of use

Most users want a bot that will make trading easier for them, so look for one with an intuitive interface that suits your level of expertise.

You should also check the level of customer support, how updates are rolled out and whether bugs are solved in an efficient and timely manner.

It is also important to find a bot that best aligns with your trading strategy and to check how much customisation will be required.

Profitability

A bot is only effective if it is consistently achieving profits for its users.

Before investing in a bot, you should read reviews to assess its success rate.

Price

Some bots are available for free, while others will come with a significant price tag.

Generally speaking, a paid-for bot offers superior features and a higher level of service, but you should weigh up what you are getting for your money and whether it is worth the investment before making a decision.

The 10 best bitcoin trading bots 2021

1. Coinrule

Fee: free with a starter account or from $29.99 per month

With its simple, intuitive design, coinrule is a good choice for those who are new to bitcoin trading as well as more advanced traders.

Users don’t need to know any code to set their trading rules.

Coinrule is web-based and works across several cryptocurrencies as well as supporting some of the most widely-used exchanges, such as bitmex and coinbase pro.

2. Cryptohopper

Fee: starting from $19.99 per month

Another cloud-based bot, cryptohopper is easy to set up and start trading with a range of cryptocurrencies.

One notable feature is the ability to integrate with professional traders and trade in line with their trading signals.

More experienced users can programme the bot according to their own strategy.

Cryptohopper works with most of the popular exchanges.

3. Shrimpy

Fee: A free package offers access to portfolio tracking features. Professional packages start from $13 per month.

Shrimpy was created for traders who can’t afford the more expensive bots, so aims to offer a good range of free services.

The main feature is shrimpy’s built-in auto trade algorithm.

Other tools include backtesting to compare your strategy with historical results and social trading, which allows the user to follow and copy other traders on the platform.

The bot supports some of the main exchanges, including kraken and binance.

4. 3commas

Fee: starting from $22 per month

This cloud-based bot has an intuitive interface and a wide range of tools.

Its key feature is the ability to backtest strategies on the portfolios of other traders. This allows you to learn from the successes of the best traders on the platform and incorporate their approach into your own strategy.

3commas works on a range of exchanges, including bittrex, kucoin and binance and can trade multiple cryptocurrencies simultaneously.

5. Cryptotrader

Fee: starting from around 0.073 BTC (bitcoin) for three months

This cloud-based bot offers a marketplace where users can buy and sell trading strategies, along with backtesting tools.

It also provides text and email updates on the market throughout the day and is supported in most of the major exchanges such as coinbase and bitstamp.

Cryptotrader works best for users with some knowledge of coding, although less experienced users can access a variety of free or paid for strategies.

6. Zignaly

Fee: $15.99 per month

This is another cloud-based trading bot and a relatively new entrant to the market.

With no limits on the cryptocurrencies you can trade, zignaly offers a high level of freedom.

Another attractive feature is the ability to follow professional traders and integrate their analysis of market fluctuations.

The bot only supports binance and kucoin at present but developers promise that other exchanges will follow soon.

Zignaly prides itself on its transparency and users can easily communicate with the developers, as well as taking advantage of a 30-day free trial.

7. BTC robot

Fee: starting from $19.99 per month

This fully-automated bot must be downloaded and run on a local machine.

When it first launched, it was bitcoin only, but can now be programmed to trade other cryptocurrencies. It also works with many exchanges.

One of this bot’s most attractive offerings is its 60-day refund policy, so you can test it extensively before deciding if you want to commit.

Note that you will need a broker account with metratrader4 to run BTC robot.

8. Gunbot

Fee: starting at 0.01 BTC for a lifetime licence

Gunbot must be downloaded onto the user’s machine and comes with several built-in strategies. These can also be customised according to the user’s trading preferences.

Gunbot is known as a highly flexible and efficient trading bot, offering good value for money.

It can be used to trade with a variety of cryptocurrencies and supports most of the large exchanges, including kucan, kraken and bitfinex.

It is relatively complex to use, so is best for those with some experience of trading with bots.

9. Haasbot

Fee: starting from 0.073 BTC for three months

Haasbot is run on the cloud so, like other cloud-based bots, can continue operating even when the user’s computer is switched off.

It comes with a pre-configured strategy but can also be customised.

One of its key features is the ability to access a number of bots that can trade with different currencies and on different exchanges at the same time.

This bot requires more input from the trader than some of the others on the market so is more suited to those with a good knowledge of the bitcoin market.

10. Zenbot

Fee: free

Zenbot is an open-source trading bot, so the code is available for traders to download and modify for free.

As there is no user interface, it does require technical skills, but it provides access to ready-made strategies as well as features such as paper trading – simulated trading which allows users to try out strategies in real-time.

Zenbot can handle high-frequency trading and supports several cryptocurrencies alongside bitcoin.

Final thoughts

A bitcoin trading bot can never completely replace a human trader but, used correctly, it can reduce some of the risks and help you to trade more efficiently and effectively.

With so many bots now available, it is easier than ever to find the tools you need to automate your trading according to your personal preferences and level of experience.

Wikijob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.

7 cryptocurrency trading bots for beginners

Trading bots are computer programs configured to complete buy-and-sell orders automatically. These bots are gaining popularity by the day, and among their best features are good profits, security, user-friendliness, speed, and many others. Bots are also independent of decisions based on human emotions.

The upsurge in the number of companies offering trading bot services makes them a perfect item of discussion. The main reason behind the use of trading bots is the crypto market volatility. Since the crypto market is a 24-hour economy, market trends change in seconds. Automated trading allows the crypto traders to react to any changes even when they are away from their trading platforms.

As a trader, you might often wonder what bot is the best for use. Keep on reading to know the seven best trading bots as listed below.

Shrimpy

This web-based platform was launched in 2018. It works by automating functions to allow traders to manage their portfolio, analyze the market, and execute their strategies.

Anyone can start using shrimpy by signing up from the website and connecting their exchange account to shrimpy. Although it’s a new product in the market, it’s rapidly gaining popularity among new and seasoned traders due to the excellent services.

Shrimpy supports an extensive list of crypto exchanges, along with an endless list of cryptocurrencies. Some of the exchanges supported are bittrex, kucoin, coinbase pro, bitmart, bitstamp, gemini, huobi, bibox, binance, and bitfinex.

Shrimpy also comes with the best pricing plans for new and even experienced crypto users. Its paid plan allows traders to access almost all service functionalities, including unlimited exchanges, custom portfolios, and rebalancing.

Shrimpy’s plans start as low as $8.99 per month. The subscription gives full access to the features above and features a full social trading platform with complete portfolio backtesting.

Shrimpy has a simple, very clean, and easy to use interface. Setting up trading bots is easy. The functionalities are quite easy to use, so the platform is generally user-friendly.

Cryptohopper trading bot

The cryptohopper domain and platform was registered in 2017 and is owned and operated by cryptohopper BV, a netherland based company. The platform serves as a web-based platform and comes with a user-friendly interface that operates 24/7. It is a platform that allows for both algorithmic and social trading.

The technology involved allows for full automatic tradings by integrating the API to the crypto exchanges. The services are easy to use on any internet-enabled device.

The platform incorporates configurable and savable templates, a bot backtesting tool, and customizable technical indicators. Cryptohopper is compatible with several exchanges, i.E., kraken, coinbase pro, cryptopia, huobi, binance, kucoin, poloniex, bitfinex, and bittrex.

Cryptotrader

Cryptotrader is a project run by algocraft limited and allows users to use their strategies to automated trading via the scripting language based on coffee-script . Members of the platform can trade bitcoins and other cryptos without other software, and the bot operates 24/7.

The platform is web-based, and the vpncloud hosts the automated bots. It allows its users to use backtesting and live testing strategies.

Cryptotrader platform provides an API that can link with different exchanges and give developers full trading algorithms writing rights. Crypto exchanges supported in the platform include coinbase, huobi, binance, bitfinex, bitstamp, bittrex, kraken, and poloniex. It operates on subscription. Therefore, a trader can choose a paid plan that best suits their needs.

Zignaly

Zignaly , a spain-based platform, was founded in 2018. It’s a trading terminal that allows bitcoin and other cryptos. The platform excels at both manual and automated trading.

The platform is cloud-based, which automatically updates without you having to do it manually. Any changes you make in your system are automatically updated into the cloud, and you can get access to the information from any device.

A trader gets external signals from the systems signal providers. The signals help to analyze the market and make strategies based on market conditions. This means that a trader doesn’t need to devote all of his time to trading. However, there is not much information about the reliability and safety of the platform. The price of zignaly’s beta plan is $9 per month .

Kryll

Kryll was launched in 2018 through an ICO but was introduced to the public in january 2018. Kryll’s block-like strategy structure makes it easy for traders to use trade as their primary income mode.

Although it has gained popularity in the past two years and has received positive reviews from users and critics, it’s still less popular than its competitors. The exchanges supported in this platform include binance, bittrex, liquid, kucoin, poloniex, coinbase pro (GDAX), hitbtc, and bitstamp. However, kryll is still trying to make more exchanges compatible with its system.

Kryll is user-friendly so that even beginners can easily use it.

3commas

3commas is best for the more experienced crypto traders since its user interface is a little complicated. The interface can be accessed anywhere using a desktop, phone, or any other internet-connected device.

This cloud-based platform incorporates a smart trading terminal, reliable trading bots, copy trading, and portfolio management. The platform supports 23 different exchanges, including binance, bitfinex, and others.

3commas allows the user to do either manual or automated trading. Its pricing plan for starters is $14.5 per month , and you can change your plan as you progress.

Haasbot

Haasbot platform was founded in 2014 and had a transparent team. The platform offers a wide range of services, including technical indicators and backtesting of real-time and historical safety and insurance.

The platform requires users to install the software on their laptops, which comes with an excellent interface and customizable dashboards that appeal to them. Haasbot supports both linux and windows OS, and a user can trade at any time.

Haasbot is compatible with 20 exchanges, including bitfinex, bitstamp, binance, and bitmex. Plan payments are made in bitcoins, and the prices range from 0.04 BTC for a 3-month plan to 0.32BTC for a 12-month advance payment plan.

Bottomline

Crypto trading bots are a must-have tool for any trader who would like to make significant trades. These programs help you trade, even while you are away, and make wise investment decisions that are not clouded by emotions.

There are several trading bots available in the market, all of which come with different features. If you are looking for one, you may find it challenging to choose the best. Luckily for you, we’ve rounded up the seven best bots you can use to give you a headstart.

The 10 best bitcoin trading bots 2021

In this article skip to section

As the bitcoin market has grown in popularity, so has the use of bitcoin trading bots.

These are software programmes that interact with bitcoin exchanges to analyse trading data and then use this information to place buy or sell orders on behalf of the user.

The bots act on a predetermined and pre-programmed set of rules to monitor activity in the markets.

Bots may come with trading strategies ready installed, but the user can also customise the bot according to their preferences.

There are now many bitcoin trading bots available, some for free and some in exchange for a subscription fee.

In this article, we have brought together 10 of the best bitcoin trading bots.

We also look at some of the advantages and disadvantages of using a bot and explain what to look for when choosing a programme.

Why you should consider using a bitcoin trading bot

The cryptocurrency market is known for being highly volatile. It also never closes.

This can make bitcoin and other cryptocurrencies very profitable when traded wisely but also increases the risk of significant losses.

A bitcoin trading bot can help to mitigate some of these risk factors.

Unlike humans, bots will only make trades based on the data and trends available, so emotions and impulses are eliminated from the decision-making process.

Bots can also operate around the clock, so the user can continue trading even while they are asleep or otherwise occupied.

Trading bots also have the advantage of being able to work faster and more efficiently than a human trading manually.

When specified correctly, they can analyse data and execute trades across multiple exchanges and multiple cryptocurrencies.

What are the pros and cons of using a bitcoin trading bot?

It is important to remember that a trading bot is not a silver bullet.

The right bot used effectively may help to increase your profits but there are also several drawbacks and risks to consider before deciding to install a bitcoin trading bot.

Things to consider when choosing a bitcoin trading bot

Reliability

One of the key attractions of a bot is its ability to continue trading around the clock.

If your bot keeps going offline or suffers from other glitches, you will miss out on opportunities.

Check its reliability by reading reviews from other users.

Security

As mentioned above, hackers target trading bots and exchanges so it’s crucial to ensure that your bot is as secure as possible.

Look for one that has a good track record for security.

Check that the team behind the bot is credible and legitimate and that there is an active community of satisfied users.

Ease of use

Most users want a bot that will make trading easier for them, so look for one with an intuitive interface that suits your level of expertise.

You should also check the level of customer support, how updates are rolled out and whether bugs are solved in an efficient and timely manner.

It is also important to find a bot that best aligns with your trading strategy and to check how much customisation will be required.

Profitability

A bot is only effective if it is consistently achieving profits for its users.

Before investing in a bot, you should read reviews to assess its success rate.

Price

Some bots are available for free, while others will come with a significant price tag.

The 10 best bitcoin trading bots 2021

1. Coinrule

Fee: free with a starter account or from $29.99 per month

With its simple, intuitive design, coinrule is a good choice for those who are new to bitcoin trading as well as more advanced traders.

Users don’t need to know any code to set their trading rules.

Coinrule is web-based and works across several cryptocurrencies as well as supporting some of the most widely-used exchanges, such as bitmex and coinbase pro.

2. Cryptohopper

Fee: starting from $19.99 per month

Another cloud-based bot, cryptohopper is easy to set up and start trading with a range of cryptocurrencies.

One notable feature is the ability to integrate with professional traders and trade in line with their trading signals.

More experienced users can programme the bot according to their own strategy.

Cryptohopper works with most of the popular exchanges.

3. Shrimpy

Fee: A free package offers access to portfolio tracking features. Professional packages start from $13 per month.

Shrimpy was created for traders who can’t afford the more expensive bots, so aims to offer a good range of free services.

The main feature is shrimpy’s built-in auto trade algorithm.

Other tools include backtesting to compare your strategy with historical results and social trading, which allows the user to follow and copy other traders on the platform.

The bot supports some of the main exchanges, including kraken and binance.

4. 3commas

Fee: starting from $22 per month

This cloud-based bot has an intuitive interface and a wide range of tools.

3commas works on a range of exchanges, including bittrex, kucoin and binance and can trade multiple cryptocurrencies simultaneously.

5. Cryptotrader

Fee: starting from around 0.073 BTC (bitcoin) for three months

This cloud-based bot offers a marketplace where users can buy and sell trading strategies, along with backtesting tools.

It also provides text and email updates on the market throughout the day and is supported in most of the major exchanges such as coinbase and bitstamp.

Cryptotrader works best for users with some knowledge of coding, although less experienced users can access a variety of free or paid for strategies.

6. Zignaly

Fee: $15.99 per month

This is another cloud-based trading bot and a relatively new entrant to the market.

With no limits on the cryptocurrencies you can trade, zignaly offers a high level of freedom.

Another attractive feature is the ability to follow professional traders and integrate their analysis of market fluctuations.

The bot only supports binance and kucoin at present but developers promise that other exchanges will follow soon.

Zignaly prides itself on its transparency and users can easily communicate with the developers, as well as taking advantage of a 30-day free trial.

7. BTC robot

Fee: starting from $19.99 per month

This fully-automated bot must be downloaded and run on a local machine.

When it first launched, it was bitcoin only, but can now be programmed to trade other cryptocurrencies. It also works with many exchanges.

One of this bot’s most attractive offerings is its 60-day refund policy, so you can test it extensively before deciding if you want to commit.

Note that you will need a broker account with metratrader4 to run BTC robot.

8. Gunbot

Fee: starting at 0.01 BTC for a lifetime licence

Gunbot must be downloaded onto the user’s machine and comes with several built-in strategies. These can also be customised according to the user’s trading preferences.

Gunbot is known as a highly flexible and efficient trading bot, offering good value for money.

It can be used to trade with a variety of cryptocurrencies and supports most of the large exchanges, including kucan, kraken and bitfinex.

It is relatively complex to use, so is best for those with some experience of trading with bots.

9. Haasbot

Fee: starting from 0.073 BTC for three months

Haasbot is run on the cloud so, like other cloud-based bots, can continue operating even when the user’s computer is switched off.

It comes with a pre-configured strategy but can also be customised.

One of its key features is the ability to access a number of bots that can trade with different currencies and on different exchanges at the same time.

This bot requires more input from the trader than some of the others on the market so is more suited to those with a good knowledge of the bitcoin market.

10. Zenbot

Fee: free

Zenbot is an open-source trading bot, so the code is available for traders to download and modify for free.

Zenbot can handle high-frequency trading and supports several cryptocurrencies alongside bitcoin.

Final thoughts

A bitcoin trading bot can never completely replace a human trader but, used correctly, it can reduce some of the risks and help you to trade more efficiently and effectively.

With so many bots now available, it is easier than ever to find the tools you need to automate your trading according to your personal preferences and level of experience.

Best crypto trading bots 2020 - automate your trades

Best crypto trading bots for 2020

Learn how to automate your trades in this best crypto trading bots guide. Crypto trading bots are a sophisticated way to generate passive income from the cryptocurrency market. In a fast-moving market like cryptocurrency, it’s becoming increasingly popular to automate the entire process of trading. Crypto trading bots are computer programs that use indicators to automate the buying and selling.

Our team at trading strategy guides has done all the research and put together a proprietary bitcoin trading bot that looks for trades, opens trades, and closes trades based on a very unique cryptocurrency strategy. We’re going to talk more about this later.

Before collapsing the infamous biggest bitcoin exchange MT gox was using the willy trading bot to manipulate the price of bitcoin. This was a bitcoin trading bot that led to the bitcoin price bubble and crash months after. This was all happening back at the end of 2013 when the crypto market was still a virgin market.

In this article, we’re not going to deal with these types of crypto trading bots. Instead, we’re going to look at the best crypto trading bots that can help you profit from the day-to-day crypto price fluctuation.

Just like in the stock market and the forex market, there are traders that have gotten involved in creating some of the best crypto trading bots to help maximize their profits.

Let’s dive into what an automated trading bot is, and learn about the most popular crypto bots on the market.

What is a crypto trading bot?

A crypto trading bot is a computer algorithm that uses various indicators and chart pattern recognition scanners to automatically execute trades on your behalf. If you have the right coding skills, you can program a cryptocurrency bot to automatically take and close trades.

However, if you’re not a whiz kid coder, don't worry.

Today, you can automate your trades using the best pre-built crypto trading bots in the market.

The whole financial system has been taken over by algorithms, and soon enough, the cryptocurrency market will experience the same thing.

It will be man versus machine.

As long as there are markets that move, there will always be some human activity. Trading robots can’t eradicate entirely the presence of humans, but it certainly can lead to a tougher environment. Warren buffet is a human that amassed tremendous success and amounts of wealth despite the rise of high-frequency trading.

Even if you’re not a fan of trading bots, you can still carry on with manual trading if you have the right skills.

Before you cast away the trading bots, you have to consider the many advantages that come with using cryptocurrency robots.

Crypto trading bots advantages

The first advantage of trading bots is that it eliminates the emotions out of the decision-making process. That’s kind of a big deal. Many crypto traders fail because they don’t have the discipline to follow a trading plan.

Second, you’ll have more efficient execution of your trades and better entry prices. If you’re quicker in terms of trade execution, you have a time advantage.

A trading bot can also detect chart patterns that are more difficult to spot by a human eye.

Another advantage of using a free bitcoin trading bot is that you don’t need to be with your eyes glued to the screen all day long.

Our team has spent years learning, watching, adapting, and trading different charting patterns. And we built an automated crypto robot based on this research.

Free bitcoin trading bot

If you want a unique opportunity to maximize your crypto returns you can try our almost free bitcoin trading bot.

Frankly, manual crypto trading takes time and the right skills. You can try using the bitcoin signal indicator and trade by yourself. However, the problem is that you still need to know how to only take the “right” trading opportunities. You still need to understand how to manage those trades. This can make the difference between winning and losing.

If you have no idea how cryptocurrency trading works you can use the bitcoin signal robot. This unique trading software will work in the background for you, and it will trade on your behalf.

You only need to follow this simple four-step guide to make money with our crypto trading system.

Pick a trading broker.

Install the bitcoin signal robot to your PC.

Adjust the settings and your risk!

Watch the account GROW!

You can start trading with as little as $100. So you don’t have to commit a lot of money.

*note: when you sign up and get the robot working and running, we HIGHLY recommend that you use a demo account first to see how the robot works.

Now, let’s see what other trading bots the crypto space can offer you.

See below our top 5 cryptocurrency bots:

Top 5 crypto trading bots

Selecting the right crypto bot for mechanical trading may be difficult, but we have the solution to this problem. We’ve put together a comprehensive review of the top 5 crypto trading bots that the market has to offer you:

Cryptohopper

Cryptohopper is an automated crypto trading bot that is compatible with both indicators and copy trading. This bot supports trading for bitcoin, ethereum, litecoin, and 100+ other cryptocurrencies. Cryptohopper offers fast automated trading, helpful arbitrage tools, and integrates with the world's top crypto exchanges.

Cryptohopper automatically buys cheap crypto and looks to sell it for a higher price on a different bitcoin exchange. The interesting thing about this platform is, it allows you to copy other trading strategies. You can also create your own technical analysis and plug it into the platform.

Still learning technical analysis? Cryptohopper allows you to choose from over 130 different indicators and candlestick patterns.

Other features include the ability to manage your accounts in one place, and a social trading platform component.

Prices range from $19 to $99 per month.

Haasbot

Haasbot is probably one of the most expensive crypto bots out there. They're not kidding when it comes to the money you'll have to pay. We can all agree that this crypto trading robot is not for everyone. The subscription price starts to add up to over $10,000 per year for the more advanced version.

Haasbot software definitely targets the more experienced bitcoin traders. Haasbot uses a candlestick pattern recognition feature and some advanced indicators to time the market.

Haasbot is not just a bitcoin trading bot, but it also trades 500+ alt coins across all major cryptocurrency exchanges.

Gekko bot

Gekko is a dedicated, free and 100% open-source platform that allows you to create your own cryptocurrency robot. You simply download and run the software on your own PC.

Gekko has a lot of powerful features that allow you to optimize and backtest your crypto strategy. The only downside is that gekko bot is exclusively for bitcoin trading.

Gekko trading bot also only supports a limited number of crypto exchanges (bitfinex, bitstamp, and poloniex).

You only need to build your own automated crypto bot and gekko trading bot will take care of everything else.

Gunbot

Gunbot is another automated crypto trading bot. Gunbot trading bot is completely customizable so it can fit your risk profile and trading style. Unlike gekko, gunbot works on more crypto exchanges like bittrex, binance, poloniex, bitfinex, cex.Io, GDAX, kucoin, kraken and cryptopia.

This cryptocurrency robot offers you different pricing plans starting from 0.025 bitcoin and can go as high as 0.3 bitcoin for the more advanced version. You only have to pay for a one-lifetime license.

Another interesting feature that gunbot offers is that it has 32 different trading strategies built in from where you can choose.

Bitcoin signal robot

Bitcoin signal robot is our in-house cryptocurrency bot. We are subjective for including bitcoin signal robot in our top 5 crypto bots, but our backtesting results are a solid proof that this crypto bot is capable to generate some nice profits.

Unlike most of the competition, our proprietary crypto bot is available on the meta trader 4 and meta trader 5 platform.

If you’re a forex trader this is very handy as you can manage your crypto and forex exposure all from one place.

Conclusion – best crypto trading bots

We hope you enjoyed this article on the best crypto trading bots. It's important to always do your due diligence and research when choosing a crypto trading bot. Not all crypto trading bots are reliable and trustworthy. The quality of an automated crypto robot is determined by the relationship between the potential cost and the potential profits you can make from using said bot.

Cryptocurrency is a volatile market and not so easy to trade. If you’re an inexperienced trader, you should consider the benefits of using a crypto trading bot to increase your profits. Ultimately, it’s up to you to decide if any of the aforementioned cryptocurrency bots make sense to you.

Feel free to leave any comments below, we do read them all and will respond.

Also, please give this strategy a 5 star if you enjoyed it!

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Please share this trading strategy below and keep it for your own personal use! Thanks traders!

The basics of bot trading in cryptocurrency

Understanding the basics of cryptocurrency trading bots

We explain cryptocurrency trading bots and bot trading. The goal will be to give you an introduction to automated crypto trading. [1]

NOTE: for the time being, this page will just cover “what trading bots are” so that those learning about cryptocurrency trading for the first time can get a sense of what bot trading means. Any trader watching the exchanges is going to notice small orders filling the order books and orders being placed inhumanly quickly and wonder how it is done: bots do it. For some tips on using bots, see our page on tips for bot trading for beginners.

What is a bot trading? What is an API? What is a trading bot?

What is bot trading? Bot trading is using software to automate trading. Bots talk to an exchange via an “API” and can place buy and sell orders for you. It is done in both cryptocurrency trading and other types of trading. It is fully legal and welcome on most cryptocurrency exchanges; however, only specific brokers outside of cryptocurrency allow it.

What is an API? An API, or application programming interface, is an interface for an application that allows it to send and receive specific types of data. For example, it can be a way for your bot to interface with the exchange to place buy and sell orders and to collect price and balance data.

What is a trading bot? A trading bot is a program that can execute trades for you on an online exchange based on parameters defined by the programmer or user. For example, a program that will buy when the RSI is of a cryptocurrency is low and sell when the RSI is high.

In summary: your program (for example your trading bot) the API (a part of an app, for example part of a cryptocurrency exchange), the bridge between your program and the app the app (for example a cryptocurrency exchange) receives commands via the API from your program and outputs data to be sent through the API to your program.

See an example: check out this article on automating a bollinger band strategy for an example of bot trading. That page has a free automated trading platform you can use to try it out yourself.

How trading bots work with cryptocurrency exchanges

Most cryptocurrency exchanges allow you to utilize an API to interact with the exchange.

This means they have an interface that lets you both pull data from the exchange and make specific changes to your account using a program.

Specifically, automated programs that make trades on an exchange using an exchange’s API are called “trading bots.”

Using a trading bot + API allows you to execute trades programmatically.

You can buy or create a program that executes a specific trading strategy that or someone else has defined.

Is using a trading bot legal?

Not only is using a trading bot legal, but it is often welcome; a thin market is bad for everyone, so the more buy and sell orders on the books, the better.

FACT: bot trading is fully legal in cryptocurrency and the stock market (although only certain brokers allow it). With that said, anything that would be illegal under normal circumstances is illegal in cryptocurrency trading. You would be unlikely to make or buy a spoof bot or pump and dump bot without expecting trouble; instead, you want to focus on (for example) making or buying a bot that follows indicators or works as a market maker.

Are trading bots profitable?

Trading bots aren’t inherently profitable. Instead, the success of a bot depends on several factors:

The accuracy of the software (the bot, the API, the app)… if something glitches, it can be bad.

The quality of your strategy (you need to tell the bot what strategy to follow; thus your bot is only as good as your programmed strategy and its execution).

Market factors (if a market crashes or spikes, or if you are trading in a thin market, bad trades can be made even if the bot and exchange are working as intended).

How you adjust your bot (or how your bot adjusts) to different market conditions (a strategy can make money in one market type, but lose money quickly in another).

The bottom line: A bot trading can be insanely useful in the 24/7 global market which is cryptocurrency, as no human can react to the market 24/7. However, there is a lot that can go wrong, and it takes a good chunk of time, experience, and knowledge to get to the point where you are using a trading bot confidently, with fail-safes built in, and with success. If you are starting out at square 1, tread very carefully and only give the bot access to small amounts of capital. There are some serious barriers to entry given the skill needed and costs. Thus, bot trading is not going to be the best choice for everyone. However, if you have TA down and your main problem is not being able to be at your computer 24/7, or if you find yourself needing features that aren’t native to exchanges (like trailing stops), then a trading bot might make sense for you.

Getting started bot trading

Below are some basic things to know when getting started with bot trading. This isn’t a step-by-step bot set-up guide, just a list of what you need to know to make your own choices.

As with cryptocurrency mining, there isn’t much information online geared toward bot trading beginners (although this has changed a bit over the years), and there are some barriers to entry. Barriers include the need to understand some basic coding with many bots, need to understand crypto trading with any bot that lets you customize it, and need to understand some technical analysis (TA) in most cases. If you have specific questions, you can ask me below.

Bot trading isn’t inherently profitable. In fact, you could lose money quickly if you don’t play your cards right. Many bots cost money, plus there are fees, plus a bad strategy for a given market and trading pair can result in a loss. Bots are very useful, but they also come with lots of complicated risks.

You can buy a trading bot, lease a trading bot, find a demo, use a free open source platform, or create your own trading bot. We won’t recommend any bots here since we want to do a full review on each bot first (that is in the works). A basic google search will tell show you that some popular bots and trading platforms for creating bots include haasbot, cryptohopper (affiliate link and free trial), gunbot, and gekko. Of those I’d recommend cryptohopper for a first timer due to it being easy to use and free to try out. You can click those links to get a sense of the different types of bots, and then do some research to see which if any are right for you. See this article from “medium, let’s write a cryptocurrency bot. (part 1)” for information on how to create your own bot.

Most bots and bot creation platforms allow backtesting and live testing. Logically you want to run tests before you start trading. Run tests. Run more tests. Run tests while your bot is live. Test the current market, a sideways market, an uptrend, a downtrend, and do this five times over. Realize that backtests don’t speak to future results. This step is vital!

You need to create an API key on the exchange you want to use to interface with the exchange. You’ll need to put your key and the related “secret” in the bot to access the API (some exchanges also require unique sets of information). Never share your secret (it is like your private key or password), and be very careful about which platform you go plugging your secret into (anyone who has that info can access your bot). If your bot platform gets hacked, or if your keys get stolen, then someone else will have access to your funds and can trade them (making bad trades). So security is really important here!

If an API allows you to make withdrawals, you’ll likely want to ensure withdrawals are turned off (this avoids the bot withdrawing from your account; then the worst it can do is make bad trades). Only very specific types of traders will need their bot to withdraw any funds from their account.

You need to have the bot running for it to trade, so your computer needs to be on and running, or you need another solution such as a cloud-based server. Since this is true, services like cryptohopper [for example] are a little more newbie friendly as they host the bot for you and thus you don’t need to keep your computer on. As a trade-off, you can’t customize a bot cryptohopper the way you can something like gekko (an open source customizable bot with its own limitations and hurdles).

Now for a a few tips: I suggest using stops and trailing stops if you bot trade. I suggest turning your bot off when needed (is the entire market crashing, no need to run a “strat” AKA strategy built for a bull market!). I suggest manually locking in profits or taking losses as needed. I suggest small buy-ins, especially to start. I suggest being very careful about what coins you play. I suggest testing strats on many charts before you go thinking you struck gold. I suggest using longer time frame candles until you get the hang of things. I suggest including a few failsafes if you can like “if below X disable selling, or if above Y disable buying” (i.E. Protect yourself from a flash crash). There are a ton of pitfalls and traps one can fall into with bots, if you jump in too quick you could get burned. So take your time and be methodical.

Hopefully, this bare-bones bit of bot trading information has helped to clue you into what bot trading is and how it works.

As our team works through the different bots, we will offer more articles geared at helping to provide beginners guidance on using bots.

Make sure to do your research and tread very carefully. There is a lot of room to go wrong [really, really, bots can go dreadfully wrong quickly], and again, we haven’t personally reviewed all the bots and platforms noted above.

Trade-offs: there are a lot of compromises you need to make when choosing a bot. If you program from scratch, you have tons of flexibility. If you choose a platform, you have to work within the confines of the platform. You also have to consider security.

Bottom line: put everything together, and you have a lot of trade-offs that you need to make and more than a few barriers to entry; you need a specific range of skills to make everything work. Still, if you work through all that and find the right bot for you, and it can be rewarding given the 24/7 cryptocurrency markets which demand you either miss some of the trading day, never sleep, or get a bot to execute your strategy for you.

Trailing stops and signals: one of the best things about bots is that they can do things exchanges don’t let you do. Trailing stops (or creeping stops) are one example of this. It can make sense to use a bot just for features like this even if you aren’t going to build or buy a strat to get buy / sell signals. Signals are another example. Without a bot you can join a signal group and then manually buy /sell when you get a buy / sell signal. With a bot that can integrate signals, you can automate that process. Add in automated stops and automated signals and you have a useful bot without much in the way of a strat. There are lots of reasons to automate trading. Bots can also be programmed to do things like arbitrage and accumulation. Sky is the limit, especially if you can program your own or find the right bot for you.

WARNING: crypto can be really volatile and overly simple lower time frame strategies are easy to exploit. The chances that you’ll make money using an out of the box MACD strategy on 1hr candles is low. In general if you want to go simple, use higher time frames.

WARNING: your bot won’t necessarily know if the price is very high or low. If there is a flash crash or sudden spike, your bot could end up buying way too high or selling way too low. If you are programming your bot, try to create measures against this. If you are using someone else’s platform or bot, see if they have some features to gaurd against this. The lower volume the coin / exchange you are trading on, the more this could be a problem. In general beginners will benefit from playing only higher volume pairs and keeping balances small to start.

Nexfolio – the most awaited best AI crypto trading bot

“nexfolio is an ai crypto trading bot. It makes use of AI algorithms to predict future trends in the volatile crypto market. With the aid of AI. Trade signals, and other popular algorithms, the bot analyzes the fluctuations and places trade orders at the right time.”

Trading bots at a glance

Ai crypto trading bot trades on behalf of a crypto trader. They are automated computer protocols programmed with algorithms, candlestick patterns, and indicators to trade on the financial markets. Trading bots make the trading process a hassle-free and streamlined experience for crypto traders.

About nexfolio

Automation and artificial intelligence form the base for nexfolio, and the bot is suited for both novice and experienced traders. Nexfolio is designed with proven trading strategies after gathering requirements from multiple traders across the globe.

Nexfolio supports bitcoins as well as other cryptocurrencies. It needs little human attention, such as setting up stop loss and profit percentages, allocating the funds, and others.

Nexfolio bot interacts with the crypto exchanges directly, and places buy/sell orders automatically on behalf of the trader. It analyzes the ups and downs in the market and comes up with the best decision that brings higher profits.

Looking for profitable trading? Why don’t you make use of an automated and AI crypto trading bot #nexfolio

Why prefer ai crypto trading bots?

Quick order execution
- Good execution speed is essential to achieve optimal trading. In many cases, traders are incapable of reacting quickly to the fluctuations in the coins’ prices.
- And, crypto exchange’s downtime and delay in transaction processing further exacerbate these problems.

Trade without break
- It is difficult for traders to dedicate their entire time trading in the cryptocurrency markets.
- Spending as much time as possible always results in achieving the best trades.
- But doing so requires 24/7 monitoring of crypto exchanges across the globe.

So, to overcome all the challenges mentioned above, crypto traders are switching to trading bots.

Features of nexfolio crypto trading bot

Crypto portfolio management

Automated signal trading

Fixed sell functionality

Money & risk management

Editable stop-loss & profit percentages, and a lot more

How does ai crypto trading bot work?

There are three moving parts that contribute to the working of the trading bot:

Signal generators

This is where trade predictions are made. Once predictions are made, the generated data will move into the signal generator, and then a trade signal (either buy or sell) pops up.

Signal generators work well in trading bots that are programmed with technical indicators.

Risk allocation

The function of this part is to consider the buy or sell signal and then decide how much assets to buy or how much assets to sell.

Order execution

In this part, the planned trade order is executed with respect to the market conditions (to get a favorable price).

Nexfolio bot vs. Humans

Longevity: nexfolio crypto trading bot operates on a 24/7 * 365 basis, whereas we (humans) need some time to sleep and rest.

Speed: nexfolio’s order execution speed is faster than the average human being’s thinking and reaction time.

Emotionless: nexfolio is not driven by greed or fear (or does not pay heed to the volatility). They do what they are programmed to do.

Capacity: nexfolio is designed to process tbs of data within seconds. But, traders can only do these things in their imagination.

Welcome to join the nexfolio community!

Have queries in trading? We’re ready to answer you.

The 7 best crypto trading bots on the market

Devin black updated at: aug 19th, 2020

Free algorithmic crypto bots

Learn everything you need to know about crypto tax in our cryptocurrency tax guide

While we all can appreciate the emotional rush from watching the crypto markets on a daily basis, we can also admit that it may not be the most efficient way to trade. That’s where algorithmic crypto trading bots can help.

Programming an open source crypto bot capable of making trades based on data and trends rather than emotional impulses allows crypto traders to grow profits, minimize risk, and limit losses across multiple exchanges. Trading bots allow traders to receive passive income from fully automated trades 24 hours a day, allowing you to take advantage of hours you may not be available to trade.

There are a number of platforms that support algorithmic trading, but below are some of our favorites bots that work.

What kind of trading bots are there?

Arbitrage

Arbitrage strategy entails simultaneously buying a coin on one exchange and selling it on another. For example, if a bot notices LTC selling for $300 on bittrex and for $312 on coinbase pro, the bot will buy LTC on the exchange where it’s cheaper and sell it on the other exchange for a profit. In the beginning of the cryptocurrency market, this was one of the first strategies crypto traders utilized to make quick, safe profits.

Market making

Market makers both buy and sell a token in order to help the market discover a price. The advantage of market making is that it can help prevent large swings in price.

This can involve making both buy and sell limit orders near the existing market price, and as prices fluctuate, the trading bot will automatically and continuously place limit orders in order to profit from the spread. Many market making bot traders are actually affiliated with the projects they’re trading.

How do you file taxes for crypto bot trading?

Cryptocurrency bots trade for you on exchanges. When it comes time to report your cryptocurrency on taxes, you just need to import your trades from these exchanges into cryptocurrency tax software.

When choosing a bot strategy, be aware of how many trades the bot will be making. High frequency trading bots that may make dozens or hundreds of trades a day can result in tens — or even hundreds — of thousands of transactions. This adds complexity to tax calculations; however, tokentax can handle such trading on the appropriate crypto tax plan.

What are the best free crypto trading bots?

Blackbird bitcoin arbitrage

Blackbird is a unique bitcoin trading bot that utilizes arbitrage deals. Arbitrage bots come with the advantage of not selling tokens that you own but rather looking to utilize the arbitrage strategy to find gaps in the market and take advantage of them.

Blackbird works with all market conditions because it isn’t affected by the volatility of the market. So if bitcoin loses half its value over night, it won’t affect the bot’s trading strategy. This strategy works in parallel on different exchanges, meaning that there are no latency issues, and your bot can instantly take advantage when it finds one. This bot is exclusively for bitcoin trading.

Catalyst enigma

Catalyst is a bot built using the python programming language. A major benefit of using catalyst is that it's heavily customizable . Developers can build and test complex custom strategies and analyze them on enigma's dashboard, which provides a number of valuable metrics about each strategy. Users can then share this data with other users and compare notes on which strategies are the most valuable.

Zenbot

Zenbot is another bot service we would recommend to first time users. It's an open source platform that supports a wide range of exchanges including bitfinex, bitstamp, poloniex and kraken.

Zenbot gives access to premade strategies like gekko and also has advanced features including paper trading to test strategies in real-time, configurable order types, and a flexible sample period and trade frequency. Although the platform has not had as much maintenance as we would have hoped up to this point, there is a way to download and modify the code if needed. That said, according to the github page, zenbot 3.5.15 has made a 1.531 ROI in just three months.

What are the best paid crypto trading bots?

Shrimpy

Unlike the other bots on this list so far, shrimpy costs money to use and for good reason. Shrimpy offers a number of advanced features including a focus on portfolio management, portfolio rebalancing and cross exchange performance monitoring. It is also a platform that both novice and advanced traders have found to be easy to use.

This, along with an elite number of supported exchanges, have helped shrimpy set itself apart, and it’s seen as one of the premier automatic trading platforms.

Haasbot

Haasbot is a more advanced bot, reflected in its price starting at $254 per year. However, haasbot has something to offer that the others do not. Besides supporting a large number of cryptocurrency exchanges, haasbot can give you access to multiple bots that can implement trade strategies on different exchanges and currencies simultaneously.

3commas

3commas is a more advanced trading bot with a number of sophisticated trading options built in. While it may have similar features to haasbot, there is one key feature that stands out: the ability to backtest trade strategies on other portfolios.

This can give you some insight on the strategies of the platform’s most successful users, essentially allowing you to copy their strategies, see how they work, and possibly build on top of them.

3commas also offers the ability to a number of smart trade functions like trailing. Trailing allows you to set the price you want the bots to close on a trade at the most profitable position even though the target gain set by the user had already been reached.

3commas starts at $22 a month and caps out at $79 a month for their pro plan.

Cryptohopper

Cryptohopper is an advanced paid platform that’s easy to pick up and use right away. It’s a cloud based platform, requiring no installation and allowing for 24/7 trading. The bot also integrates with traders who share their trading signals, allowing users to assign their bot to trade according to these traders’ signals. More experienced users can customize their own strategies.

To stay up to date on the latest, follow tokentax on twitter @tokentax.

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