As with everything in life, the world of cryptocurrency and trading bots has both its advantages and disadvantages. Because cryptocurrency exchanges are decentralized, a lot of the time you can find a wide margin between prices offered on different exchanges, meaning that you can end up making a lot of money. Indeed, crypto bots represent the necessary tool for every serious cryptocurrency trader.

Users simply have to provide a set of rules, and the bot will complete all trades that match the conditions. KuCoin Trading Bot is a platform that allows users to automate their cryptocurrency trading strategies on KuCoin, one of the best crypto exchanges overall. In this article, we will examine the eight best crypto trading bots available in the market today. Before we dive into the details, let’s quickly list the best crypto bots for automated trading.

Ready to start trading using an AI crypto trading bot?

However, remember that the cryptocurrency market constantly changes and price trends always fluctuate. Many new traders will require the option to follow experienced traders and their own trading strategies. This feature is social trading, making it cost-efficient and easy for new and unprofessional traders to benefit from cryptocurrency trading bots profitable strategies built by professional traders. Automated trading bots function based on algorithmic trading and preprogrammed trading strategies. The decisions are based on trading price movements in the crypto market and analyze prevailing market conditions, including trading volume, time, and orders.

• Gekko can be easily accessed on numerous operating systems, including major ones like Windows, Mac OS, and Linux.
• It will customize and update the strategy according to the market changes in resistance and support levels.
• Their numbers are vast, though, and we won’t deny the existence of a fairly large number of dubious software and shady brands that seek to scam you for your money.
• You no longer have to stick to a restricted number of exchanges while trading.
• Bitsgap allows you to execute trade orders using algorithmic trading, which enables you to control your risk/reward ratio, Stop Loss, Take Profit, Trailing Take Profit, and other order parameters.

Investors also have the opportunity to take part in cryptocurrency trading around the world and at any hour of the day. Combined, these factors limit the effectiveness of human cryptocurrency trading in several ways. Shrimpy has also partnered up with CoinLedger to offer a simple solution for tax reporting to its users.

The Best Cryptocurrency Trading Bots in 2023

The more data the AI trading bot processes, the more sophisticated its trading strategies become. On the other hand, an auto trading bot provides the advantage of executing trades 24/7, taking advantage of the fact that the cryptocurrency market never sleeps. This means users can earn profits even when not managing their accounts actively. Wrapping things up, auto trading bots offer many advantages, resulting in their rising popularity in the crypto markets. Hundreds of developers offer automated trading bots, so finding the one for your needs is more complicated than you might think.

HaasOnline will provide you with 15 custom bots; this way, you can choose a trading strategy and deploy it on an integrated exchange, adjust basic settings, and scalping. Mudrex is a modern cloud-based Algo trading platform whose aim is to bring automated investments available for everyone. This way, it helps traders of any experience level reduce the chances of a loss, maximize profits, and make the most of the available trading opportunities. This feature brings TradeSanta in the same league as that of the other leading trading exchanges.

Best for Businesses Wanting Exposure to Cryptocurrency: Iconomi

For all of your trading needs, you can create your own trading instance and have it executed. All of these strategies prove really helpful in helping you generate the right results for your trades. Another thing to note is that you are not restricted from customizing strategies.

• All the automated tools follow indicators generated from a well-analyzed market and apply different trading strategies to help you maximize your profit.
• When it comes to risk, it really only involves you and your cryptocurrency assets.
• Before we go any further, let’s take a look at a quick example to make sure we understand how a trading bot might operate.
• When the fast-moving average crosses above the slow-moving average, it’s a signal to buy.

Dollar-Cost Averaging is a strategy in which a bot will invest a fixed dollar amount in a specific cryptocurrency at regular intervals, regardless of the price. Over time, this can result in purchasing the cryptocurrency at an average cost, hence the name. Scalping is – a high-frequency trading strategy aims to profit from small price changes. It requires a bot because the high speed of trading can be difficult for a human to execute effectively. Market-making bots create buy and sell orders to profit from the spread between the two.

How to choose the best AI crypto trading bot

It is independent of the performance of the market and hence, has a fairly low level of risk. It involves speedy and smart trading to exploit price differences prevailing in the crypto market. To understand how the best crypto trading bots work, you must understand the different profitable crypto trading bot strategies and different types of available crypto bots. Trality is a trading bot platform for easily creating bots for non-coders based on Python API. It is a fully cloud-based web app that lets you build bots, specific equipment, or a piece of advanced coding knowledge. Trality is a reliable and reputed bot designed to get profit from its algorithmic trading.

• The bots for trading make good profits, and the trick is to make more profitable trades than loss-making.
• This is a very basic idea, and it is based on the belief that the cost of your asset is going to increase beyond its average and then decrease as it runs out of momentum.
• Bots implement specific trading strategies, competing to attain the highest “win rate”, or percentage of profitable trades.
• The best crypto trading bots offer backtesting tools and a robust community where traders can share their configurations with other community members.

HaasOnline supports a broad range of crypto exchanges, enabling users to trade on multiple platforms and access a diverse range of trading opportunities. Its compatibility with popular exchanges ensures that users can take advantage of the best deals available in the market. HaasOnline is one of the oldest cryptocurrency trading bots in the market, showcasing its reliability and experience in the industry. Its longevity is a testament to the continuous improvements and adjustments made over time to adapt to the evolving crypto market. A distinguishing feature of the Bitsgap AI crypto trading bot is its proportional investment distribution mechanism. This approach ensures that your investments are allocated evenly within your chosen range, enabling you to reap small, consistent profits with each market movement.

Are AI bots illegal?

Unlimited bot instances and over 100 crypto exchanges serve as the prowess of its technical aspect, not only its adaptability. Trality offers a degree of customizability of your new crypto trading robot that can put some of the most detailed scripts to shame. More than anything else, Mudrex is a marketplace of ideas that connects avid traders and all those who yearn to learn more about the budding business of cryptocurrency exchange. Well, Napbots gives its users direct access to some of the world’s best-performing algorithms, all without previous installs, setups, and tweaks.

• Once again, the bot will only perform trades based on the underlying software that it has been programmed to follow, so do bear this in mind.
• Some trading bot strategies require you to monitor bot once in a week, and some of them may require you to keep an eye on price moment, and make changes as necessary.
• How does one person keep up with this ever-changing, never-sleeping market?
• TradeSanta is a cloud cryptocurrency trading software that helps you benefit from crypto market volatility.

You pay a 5% annual network charge to use the bot, while it also has a minimum deposit of $1000 and a 24 Hours withdrawal time. The platform has a smooth user interface best suited for both advanced and beginners. The price range and a number of grids will be automatically filled based on the latest weekly data of your chosen trading pair. Please note that the weekly data shown should not be regarded as a guarantee of future return. Please take note that the potential returns per grid should not be regarded as a guarantee of future return. Please read the Terms and Conditions, Risk Disclosure Statement and this FAQ carefully before you use the Bots.

What Are Crypto Trading Bots? Changelly and TradeSanta Explain

As mentioned above, Coinrule has a huge collection of trading strategy templates. These include advanced pre-set rules that help their customers build a system, meeting their needs perfectly. Connect with 14 major exchanges including Binance, FTX, BitMex, and Kraken to automate – your trades of Bitcoin (BTC), Ethereum (ETH), and 1,000’s of other coins. If you need clarification on whether Cryptohopper is the ideal crypto trading software for your needs, you can try the 7-day free Explorer package trial to understand better how it works.

• Launched in 2019, Pionex is best known for offering users 16 built-in trading bots for free.
• On the other hand, its short trade bot helps in the generation of profit with unprofitable tokens.
• An automated bot will make the perfect move, but it won’t take action if it’s barely controlled or monitored, especially over the long haul.
• A crypto bot is not a get-rich-quick solution for an investor unwilling to put in the time and effort necessary for success.

Transparency is one of the biggest factors to consider to earn profits from automated trade. A reputable and trustworthy developer with a transparent website ensures that the traders do not have to deal with mishaps like losses or hidden trading fees. As you can see, even if it would be possible to do crypto trading without the use of a handy free crypto trading bot, you’d miss out on so much stuff. The last thing you want to do is sign up for a low-quality crypto trading bot that is going to expose your sensitive information and increase your chances of being hacked.

Are Crypto Trading Bots Profitable?

Many bots have developed blogs, videos, and training modules to educate their clients. HaasOnline supports options bots, backtesting, paper trading, crypto scalping bots, arbitrages, dollar cost averaging, and more. HaasOnline offers HaasScript, which is a scripting language developed for bots. It has custom dashboards that allow traders to monitor their market movements.

• Relying on automated investments or crypto bot trading strategies can be a great advantage for such traders, as emotions do not drive them.
• The efficacy of receiving high returns is possible for traders who are knowledgeable about crypto trading bots in general with the help of experienced brokers.
• Misuse of AI bots in such illegal activities could lead to severe penalties.
• Trading bots, however, operate purely on predefined logic, removing human emotion from the equation and potentially leading to more rational trading decisions.
• First, you have to connect your wallet to a bot, and then simply choose one of the available reading strategies and define the margins the bot will follow.

Smart trading is a perfect way to optimize your trading activity once and for all. Knowing how the technology works is important before investing too much in it. Their numbers are vast, though, and we won’t deny the existence of a fairly large number of dubious software and shady brands that seek to scam you for technical analysis for crypto trading your money. We think that one of the strongest arguments for investing in cryptocurrency is the fact that it isn’t going anywhere. We have covered a lot of bots on the list above, so being able to whittle it down to one is going to take a bit of know-how, as well as reading the information that we discuss below.

What Are Types Of Cryptocurrency Trading Bots?

One of my favorite bot “Grid trading bot” is available on BitUniverse, and is completely free to use. Crypto trading bots are autonomous software program that automates all the manual process needed to trade. However, you must understand that scam bots are now rampant in the crypto space.

• Cryptohopper was created in Amsterdam in 2017 by brothers Ruud and Pim Feltkamp.
• A monthly subscription ranges from free (for just getting started), to $18.66, to $99.
• This is one of many advantages to using CryptoHero’s trading bot service.
• If the bot is successful, then you retain the secret sauce, rather than having to share it with heaps of other traders.
• The trades will be executed on your behalf, based on the underlying crypto strategies that you have chosen.

While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Always do your research and perhaps start with a bot that offers a free trial or demo version, so you can test its capabilities without committing your funds.