Bots are robotized PC programs intended to run explicit errands with negligible human intercession. In the realm of digital money exchanging, crypto trading bots accomplish crafted by exchanging possibly one or various cryptographic forms of money on one or different stages naturally for the proprietor or client.
What are Crypto Trading Bots?
Cryptocurrency trading bots function as automated trading systems. It executes trades with little human involvement and relies almost entirely on artificial intelligence and programmed codes.
Crypto trading bots have become the de facto tool for professional retail traders and institutional investors. It is used as a tool to track every move in the cryptocurrency market and profit from it. Because cryptocurrency trading takes place twenty-four hours a day, seven days a week.
A cryptocurrency trading bot is a piece of software that automates trading tasks like choosing, purchasing, and selling cryptocurrencies in accordance with predetermined criteria established by the bot’s programmer or creator.
How do crypto trading bots work?
Crypto trading bots, which are created using scripts like Python, Java, C, or C#, use APIs to communicate with various crypto exchanges and carry out trades on them.
Crypto trading bots must scrape data from exchanges, turn those data into trading signals, assess the risk, and then execute trades. This is repeated each time a cryptocurrency trading bot communicates with a cryptocurrency exchange, whether it be for a buy or sell trade.
Crypto trading bots first analyze the data using machine learning algorithms and identify potential trades meeting its pre-set criteria using Application Programming Interface (API) keys to access the trader’s account.
Top 10 Crypto Trading Bots
Pionex deserves a spot on this list because it has 16 free in-built trading bots. By trading in cryptocurrencies on your behalf, Pionex’s bots assist you in making money for a small trading fee of 0.05%.
The Grid Trading Bot, which enables you to sell high and buy low, is one of its most well-liked bots. Contrarily, the arbitrage bot leverages the future market supported by the broker system Binance in order to assist you in receiving a payout every eight hours.
NAGA is one of the best cryptocurrency trading platforms because it enables anyone to set automatic copy trading to copy experienced traders.
This bot also makes it simpler for any trader who lacks trading expertise or bot coding expertise. This bot is to make money from investments with predictable or fixed returns. This is made possible by automatically copying traders who use strategies that have fixed or predictable returns.
eToro’s copy trading platform allows you to copy crypto trades, insights, and, of course, sentiments from other crypto traders.
You have the option of paying to follow cryptocurrency traders or following them for free. The platform has the advantage that you can view the portfolios, earnings, and other information of users you follow through their feeds.
There isn’t a specific trading bot program available on eToro, nor is it possible to use a bot to trade on the platform. The eToro is the company’s dedicated cryptocurrency trading platform, which offers features for both retail and institutional traders.
The CryptoHopper is a cryptocurrency trading bot that runs on the cloud and employs an algorithmic, preprogrammed trading strategy. It allows users to use outside signals to place smart trades. Users can connect to and use it with nine different cryptocurrency exchanges, including Coinbase, OKEX, KuCoin, Binance, Kraken, Huobi, and many more.
It allows you to benefit from both free and paid signals coming from various sources. More than 30 trading indicators and more than 90 candle patterns are used by this company, which is owned and operated out of Amsterdam, Netherlands. It is open 24/7 and trades more than 75 cryptocurrencies in addition to Bitcoin.
The cloud-based trading bot was established in 2017 and is managed by a team in the UK. It can be connected to a number of cryptocurrency exchanges, including Binance, Huobi, Bitfinex, OKEx, and HitBTC. There are no fees associated with trading. It enables you to take advantage of more than 7,000 strategies by allowing you to create multiple trading rules-based.
Although it does not support technical analysis (TA), users are still able to share trading advice and tactics using TradingView. You can trade multiple cryptocurrencies using it.
Shrimpy is a trading and portfolio management tool that enables users to track and trade their portfolios across various exchanges from a single platform. Across 16 exchanges, you can manage and trade your assets. Through a variety of indicators and trading techniques, the platform also facilitates trade automation or crypto bot trading.
You can instantly rebalance your portfolio to mirror the accounts you are following by simply pressing the automation button. Your portfolio will automatically change by selling or buying when the portfolio of the person you follow does.
Although TradeSanta’s cloud-based cryptocurrency trading platform operates around the clock, you are not required to be using it to generate income. Both novice and seasoned traders can use it. It can be connected to numerous cryptocurrency exchanges, such as Binance, Huobi, and others, just like all the other trading bots on this list.
You can employ both long-term and short-term strategies with it, as well as a variety of indicators and supportive support staff. Purchase tokens at a discount and then sell them at a premium with a long trade. On the other hand, shorting is effective. You can place orders using the software’s Smart Order feature, grid or DCA bots, or both.
With the help of Botsfolio, you can set up your investment strategies and connect an account with a cryptocurrency exchange to make cryptocurrency investments. Neither experience nor knowledge in trading is required. The creation of trading bots does not require programming knowledge. Trades are made on your behalf to make it work. The dashboard will then show you the status of your trades, including your gains and losses.
This cryptocurrency trading bot, despite being fairly new, gives you the option of creating your own trading strategies from scratch or using pre-existing ones. It is one of the best cryptocurrency trading bots because it is free to use and doesn’t reduce profits. It is a great option for those who are just getting started with crypto bot trading.
Trading activities using crypto-bots can be partially or fully automated. It has several traders who can give you trading signals to use. You can also trade an unlimited number of coin pairs and positions. There are only a very small number of exchanges you can connect the bot to, including Binance, KuCoin, and 8 other cryptocurrency exchanges.
The HaasOnline trading bot is one of the oldest and most reputable in the crypto market. Experienced traders who want to maximize trading effectiveness and profitability and come from the stock and forex markets are fond of it. By using the bot, you can use platforms to connect to exchanges and find crypto exchanges using API keys. And also connect to exchanges directly.
You can develop, test, and improve trading strategies entirely from scratch using your HaasScript programming language. The most complicated trading strategies can therefore be created by you.
It is crucial to take into account the bot with the most advantageous features when searching for the best crypto trading bots. Our suggested bot is Pionex. There is no mobile version of CryptoHopper, despite the fact that it supports a variety of useful indicators. As a result, you might want to take a look at CoinRule, which enables the automation of over 7000 trading strategies, or TradeSanta, which offers 2 free bots for life as well as an unlimited number of bots for just $75 per month.