Author: Eduardo Montero
Cryptocurrency trading bots started to come to the fore heavily around 2017, along with the great bull market of that same year. Throughout this momentous year for Bitcoin, automated trading strategies picked up a ton of steam because of the great returns they offered. Since then, many automated trading platforms through the so-called bots have established themselves in the market as very valid options for trading.
Now in 2024, Bitcoin, Ethereum and the cryptocurrency market as a whole is immersed in a bear market, but its volatility is still active for trading.
With the FTX, Alameda and Grayscale fiascos, the market remains very volatile with opportunities for the more prepared traders.
The use of cryptocurrency trading bots has been spreading like wildfire for over 5 years. In the current year, there are many factors that point to the fact that we may be facing a new major bull market. Because of this, many people are looking for the best crypto trading bot that can offer them the best performance in this scenario.
What are cryptocurrency trading bots?
These bots or automated trading strategies are strategies that traders carry out manually but passed to code so that the process of buying and selling is carried out by a computer. That is, an algorithm is responsible for analyzing the price by means of mathematical operations to try to predict in which direction it can go in the short, medium or long term.
In a large number of occasions, traders rely on technical indicators to make their purchases and sales. These indicators perform a mathematical operation, which can be very simple or complex, with the prices of an asset in a given period of time. After performing this operation, it provides a result, and this result is interpreted by the trader to execute a purchase or sale.
For example, a trading indicator has a range of results that varies between 0 and 10, 0 being the strongest sell signal and 10 the strongest buy signal. On a given occasion, it gives a result of 7, since it is closer to 10, the indicator is suggesting that buying is a good option for a winning trade.
Trading by means of indicators is very widespread, and for traders who follow this type of strategy, being able to automate them by means of trading bots is a great advantage. By automating their trading they can reach many more markets and apply a winning strategy to multiple cryptocurrency pairs.
Best 16 Crypto Trading Bots
Below, we have organized a list of the 17 best cryptocurrency trading bots from around the world:
1. Cryptohopper
Cryptohopper is one of the most recognized cryptocurrency bots in the entire market. The CEOs are two Dutch brothers who started their journey in 2017, at the height of the cryptocurrency boom, to have achieved one of the most comprehensive and resilient trading services for digital currencies across the spectrum.
Only with just over 3 years of existence, they have positioned themselves as the best cryptocurrency trading bot by having more than 230,000 users. Having tested them for more than 6 months, this crypto trading bot has many qualities, these are:
- 24/7 support. No matter where in the world you live, there will always be a Cryptohopper agent on chat or on their Discord channel to help you.
- Trading with more than 35 technical indicators. It is very difficult to find other trading bots that offer such a number of indicators to include in the bot. CH has incorporated a wide variety of the most important ones.
- Candlestick patterns. There is the possibility of trading with candlestick patterns. Just by selecting them in the strategy designer, you can include up to 90 different price patterns. This is a tool that only Cryptohopper has.
- Backtesting. With this functionality, anyone can create trading strategies to be backtested on many cryptocurrency markets over specific time periods. This is a great feature, as it allows you to analyze how an automated strategy would have performed on a bot in the previous weeks or months. This way, it can be tested before doing it with real money.
- The bot works 24/7. Since this service is hosted on Cryptohopper’s servers, the bot looks for trading opportunities according to your strategy or that of your signallers 24 hours a day without a break.
- Strategy designer. This is one of the best interfaces to create and adapt the crypto bot to your preferences. In this section you create the bot as you want in an incredibly simple way. All you have to do is select the indicators and/or candlestick patterns, configure it to know when each indicator should give a signal and the bot will be ready to trade while you sleep.
- Cryptocurrency arbitrage bot. Arbitrage trading strategy on Bitcoin and many other cryptos is included in CH. Moreover, the user does not need to store the funds in Cryptohopper, they are ALWAYS in the user’s exchange wallet. More info: List of best crypto arbitrage bots.
- Market making. This is another trading mode that consists in opening and closing positions quickly with a very small profit percentage. The market making bot will automatically trade 24/7 with this well known and profitable strategy.
- Trailing stop loss. The trailing stop loss function allows you to maximize profits from positive trades, as it makes trades that reach a certain percentage have a stop loss that follows the price.
- DCA. A fairly well-known bot feature in the market whereby the bot is set to periodically buy when the price drops by a predetermined percentage. Thus, getting the average purchase price for that period of time.
- Signals. This function is basically what is known as copy trading. That is, any user can copy professional traders to copy all the operations they make. Some are free and others are paid.
- Paper trading. This means that anyone can practice a crypto strategy on their automated bot with fake money before they start trading with real capital, i.e. in demo mode.
- Trading via TradingView. By setting alerts in TradingView, you can send buy and sell signals to your Cryptohopper account when a specific event has occurred.
- Academy. Offers its users courses in its Crypthopper Academy on bot trading styles, how to use the hopper and other lessons related to the world of cryptocurrencies.
- Mobile App. Yes, they have their crypto trading app available for both IOS and Android.
- Telegram Bot. It is a functionality by which you can send buy and sell signals to your account via Telegram. So by sending a message to Cryptohopper’s Telegram, you can open a position in the market you want. The Telegram cryptocurrency bot option is included in all plans.
- Manual trading station. They provide the user with a section where you can make a perfect technical analysis of the chart, draw lines and open and close positions. Moreover, this functionality is completely free of charge.
- Country of origin: The Netherlands
- 7 day trial. They offer 7 days Explorer subscription totally free to test the service before you have to pay.
- Price. They offer 4 types of subscriptions, one freemium totally free; The next is the basic one called Explorer with a price of $19.99; The medium Adventurer $49.99; And Hero $99.99.
- Connected Exchanges. Cryptohopper offers the ability to connect your account with 13 cryptocurrency exchanges. You can use your trading bot on Binance, BinanceUS, HitBTC, OKEx, BitPanda, KuCoin, Bitvavo, Binance, Coinbase Pro, Bittrex, Poloniex, Bitfinex, Huobi and Kraken.
The way Cryptohopper and the vast majority of cryptocurrency trading bots are operated is through an API connection from the exchange to Cryptohopper, both user accounts. So all trading is done on the exchange and orders are given from CH (sent via the API).
In short, Cryptohopper is the best cryptocurrency bot both for professionals and for those who want to learn how to trade cryptocurrencies with its paper trading functions and its academy: Cryptohopper Academy.
Start 7 days FREE in Cryptohopper
2. 3commas
This is another one of the cryptocurrency trading bots with the most weight in the market. 3Commas has its trading center in Russia and they also founded the platform during the bull market three years ago. As above, 3Commas offers a good variety of automated services for cryptocurrencies.
3Commas manages a team of more than 25 people backing the project and its main features are:
- Smart Trade. This functionality is a trading station, rather manual, where the user can do everything he needs to open and close positions. Here you can select the cryptocurrencies you want to trade, your base currency (from which you trade), the trailing stop loss, the level at which the market order will be executed, set a take profit and stop loss.
- Signals. As in Cryptohopper, 3Commas has a service by which less experienced traders can copy other more experienced traders. So they will not have to open positions, this will be taken care of by the signallers.
- Trailing stop loss. With this functionality, positive trades can have a much higher potential profit, until the price turns around and starts to fall.
- Trading 24/7. The strategy and the whole service is hosted on 3Commas cloud servers, which allows you to be working 24/7. This way, your bot will always be looking for the best opportunities non-stop.
- DCA bots. This is a type of bot that periodically buys one or several cryptocurrencies during a given period of time, in order to obtain the average purchase price of that period.
- Grid bot. This is a type of bot that is already practically configured by 3Commas that creates levels above and below the current price. On the levels below, the bot sets buy orders, and on the levels above, sell orders. Thus, the bot will try to buy when it goes down slightly so that these positions are quickly sold when the price increases.
- Backtesting. Ideal for testing and testing automated trading strategies before the bot trades them with real money.
- Free trial. 3 days with the Pro plan.
- Mobile App. Yes, they have an app for Android and Mobile.
- TradingView alerts. As in the Cryptohopper bot, you can also generate buys and sells on 3Commas via TradingView alerts. Just by typing in the alert the corresponding text, the TV alert will send a sell or buy signal to 3Commas.
- Option Bot. This is a type of cryptocurrency bot that uses a similar methodology to put and call options to trade.
- Paper trading. In virtual money mode you can practice all your strategies without the risk of losing your capital in experiments.
- Country of origin: Russia
- Exchanges. One of the strengths of this cryptocurrency trading bot is the large number of exchanges it has integrated. These are 23: Binance, FTX, Bybit, Bitmex, Deribit, Bittrex, Binance DEX, Binance Jersey, Binance US, Bitfinex, Bitstamp, CEX, Coinbase Pro, Exmo, Gate IO, HitBTC, Huobi, Kraken, KuCoin, Okex, Poloniex, Yobit.
- Price. 3Commas has 3 plans, and their prices are: Beginner $29; Advanced $49; Pro $99.
To summarize, 3Commas is one of the most grounded crypto trading bots on the market and offers a different approach by offering less bot customization than Cryptohopper, but more ready-made and configured bots that are ready to use.
3. TradeSanta
This automated cryptocurrency trading bot was created in 2018 and has registered a great growth reaching more than 60,000 users, especially after TradeSanta was heavily advertised in major industry media such as Cointelegraph.
This Bitcoin and more cryptocurrency bot has a similar style to 3Commas but with less functionality. They have easily customizable templates to choose buying and selling bots. Although it has fewer options when creating a trading strategy than others like Cryptohopper, its interface is very simple and intuitive. Let’s take a look at its features:
- Bots to go long and DCA. Trade Santa has created two different templates for more bullish and bearish strategies. The bullish one consists of bots that will buy when the indicator gives a buy signal. On the other hand, the bearish one mostly uses the DCA option to buy cheaper when the price goes down, thus lowering the average buy price and get a higher return if the price goes up.
- Grid bot. This bot has a configurable template by which the user configures levels above and below the price. Above the current price, sell orders are placed and below the current price, buy orders are placed. So when the price bounces from the bottom to the top, you will get positive trades. However, during downtrends the bot will execute several buy orders that will go into negative territory. So it can cause your account to have negative positions in some cryptos if you do not set a good stop loss.
- Manual trading. Like the previous trading services, Trade Santa has a manual trading station for all pairs offered by your cryptocurrency exchange. If you opt for this option, you will not be using their cryptocurrency bots, but you will be in charge of the manual strategy.
- 24/7 Bot. There is no need to keep the computer on for the bot to work.
- Country of origin: European Union, but they do not specify which country.
- Mobile App. Available for IOS and Android.
- Price. TradeSanta divides their rates into three types of subscriptions: Basic for $20; Advanced $40; Maximum $60.
- Exchanges. TradeSanta has added 8 crypto exchanges to its bot. These are: HitBTC, Binance, Bitfinex, Bittrex, UPbit, Huobi, BitMex and OKEx.
In summary, TradeSanta is an inexpensive option that can help inexperienced traders who want to start using trading software of this type. However, for more advanced levels it may fall a little short of the features it offers.
4. Zignaly
Zignaly is a younger cryptocurrency bot than the three mentioned above and they are based in Madrid (Spain). They emerged around in 2018 and identify themselves as a trading platform where you can copy professional traders and do manual trading with features like trailing stop loss. Moreover, their tagline from the beginning is “Copy trading bot + Trading terminal”, so they are framed more as a copy trading bot for cryptocurrencies.
With the passage of time, this Spanish cryptocurrency bot is devoting efforts to make the platform much more automatic and a more customizable bot for the user. Compared to the two previous ones, Zignaly is a step down as it has much less functionality and integrated exchanges. However, it is still a good option especially for copying other traders in case you do not want to do the trading yourself.
This is all you can expect if you choose Zignaly as your trading bot:
- Copy trading. The strong point and what its creators wanted to specialize in the most is the possibility for inexperienced people to copy experienced traders so that they can do crypto trading for them. In this way, they manage either nothing or only a small part of their strategy. Currently Zignaly offers more than 20 third-party signal services that can be copied.
- Manual Trading. They offer a good interface for the user to do manual trading in all markets offered by their exchange along with some automated components, such as trailing stop loss and take profit.
- 24/7 Bot. Like the previous ones, the bot is hosted in the cloud, so the bot is always looking for opportunities.
- Trailing stop loss. They also have this feature to maximize the performance of positive trades.
- Country of origin: Spain.
- Mobile App. They do not have an application for mobile devices.
- 1 month free trial. Zignaly leaves its software free one month before having to pay a subscription.
- Price. Their monthly subscription is around $15, however recently they seem to have opened their platform to make it temporarily free. Although many of best crypto trading bots have a freemium service, this is one of the few that for now is a free cryptocurrency bot.
- Exchanges. Zignaly does not have many cryptocurrency exchanges incorporated in its platform. For now it has two: Binance and KuCoin. According to Zignaly, they will soon add BitMex, OKEx and FTX.
5. Shrimpy
In its beginnings, Shrimpy started as a cryptocurrency portfolio management service. Through APIs they connected to the crypto exchange and the user could have a clear picture of how their funds were distributed in different cryptocurrencies and even other exchanges.
Through this portfolio manager, anyone can reposition or rebalance the percentage of their total capital that goes to each coin. For example, if a user wants 40% of his funds to be in Bitcoin, 30% in Ethereum, 20% in XRP and 10% in EOS, he will only need to configure it as in the image below:
However, over time he adapted a system of creating simple automated trading strategies by bots. Since crypto bots automation was not his goal from the beginning, these cryptocurrency bots do not have as many functionalities as Cryptohopper and 3Commas.
Without further ado, here are the features of the Shrimpy cryptocurrency bots:
- Portfolio manager. As we have just mentioned, the main feature that most represents this cryptocurrency software is its interface to easily manage your crypto portfolio. With this functionality the user can assign percentages of his total invested money to each cryptocurrency so that the bot can take care of the necessary operations to rebalance the portfolio.
- Automatic bots. They offer the function of creating simple bots to trade based on technical indicators.
- Copy trading. As in other trading bots for cryptocurrencies, you can copy more experienced traders by paying a monthly subscription. This section is called “Social” (from Social Trading).
- Manual Trading. In its Trading section, a TradingView chart and a trading station to open and close positions are displayed.
- Backtesting. This rebalancing function is not the same as the previous trading bots. In this case, it is a backtesting configuring different percentages for each cryptocurrency. For example, to know the difference in how many euros or dollars I would have if instead of having 50% of my funds in Bitcoin and the other 50% in ADA, I would have had 100% in BTC. It is a backtesting assigning different percentages to each currency, not a crypto trading backtesting per se.
- Mobile app. They do not have an app for mobile devices.
- Country of origin: United States.
- Price. Shrimpy offers 3 subscriptions. A free one called Hodler, in which you can only view your funds in a better way; Professional with a cost of $19 per month; and another one called Enterprise which is customizable. They have discounts if you sign up for the subscriptions annually.
- Exchanges. It has 16 integrated cryptocurrency exchanges. These are: KuCoin, Binance, Bittrex, Bittrex Goblal, Coinbase Pro, BinanceUS, Kraken, Poloniex, Gemini, Bibox, Bitmart, Huobi Global, HitBTC, OKEx, Bitstamp and Bitfinex.
6. Kryll.io
This is a cryptocurrency trading bot with more than 3 years of experience in the market. In addition, it is one of the few trading bots of Bitcoin and other cryptos that has carried out an ICO (Initial Coin Offerint), that is, they have created their own cryptocurrency to be able to use it in their platform. This is called KRL and has changed the way Kryll operates.
Let’s look at a little more of what Kryll has to offer crypto traders:
- 24/7 Bot. Kryll offers an interface to automate your trading strategy based on technical indicators and price action very different from anything you can see in other cryptocurrency bots. Using a drag and drop system you can configure the different indicators for the bot to buy or sell depending on your conditions.
- Marketplace. There is a marketplace section where you can buy cryptocurrency trading strategies. These are combinations of indicators and stop loss settings, etc. that are for sale for anyone who prefers to outsource their strategy. Unlike so-called copy-trading, these do not work on a monthly subscription basis, they are a one-time fee.
- KRL. The cryptocurrency issued by Kryll.io offers several possibilities for users, such as being able to buy subscriptions and marketplace strategies. It can also be used to obtain discounts on various products.
- Manual trading. Thanks to an integration with TradingView, you can do your technical analysis on this platform. Drawing on the chart, selecting any indicator and timeframe is possible on this platform.
- Backtesting. Important function to test strategies before using them in your bot with real money.
- Country of origin. France.
- Mobile App. They have an application for IOS and Android.
- Price. They do not have subscriptions, but you pay according to your trading volume. That is, if you have made trades for a value of $1,000 you will be charged less than if your volume has been $10,000.
- Exchanges. Its integrated crypto exchanges are: Binance, Bittrex, Liquid, KuCoin, Kraken, Binance US, HitBTC and FTX.
7. HaasOnline
Haas Online is a crypto trading bot with two different versions, the downloadable version that is stored on your computer, and the one that is hosted on HaasOnline’s cloud servers.
This is a bots trading platform for cryptocurrencies that has a large number of functionalities, especially if you know about coding, as this software has its own script in which anyone can develop their own indicators and strategies. For more experienced traders who are familiar with coding, this can be a great solution. On the other hand, if you are new to crypto trading and don’t know much about coding, there may be services with simpler interfaces.
Let’s take a look at their features:
- Highly customizable bot. The HaasBot has a lot of technical indicators as well as more tools with which you can create your strategy and even do technical analysis with the same platform. You could even create your own indicators if you know how to use their script.
- Drag and drop. Similar to Kryll, you can create a very visual strategy with its drag and drop editor.
- Backtesting. You can test all your strategies quickly in the period of time you want to find the most profitable for your cryptocurrencies.
- Arbitrage bot. Arbitrage between exchanges made real. Just by selecting exchanges, cryptocurrency pairs and some other settings you will be able to arbitrage cryptocurrencies automatically.
- Market making. They have a market making bot for the purpose of trading the spread of any cryptocurrency pair. This trading strategy is based on many trades with low profit percentage.
- Downloadable and online bot. Until recently HaasOnline was a downloadable software, they have already launched their online version: HaasOnline Cloud and in 2023 they are still active.
- Paper trading. Practice your Bitcoin trading bot before using real money.
- Mobile app. They do not have a mobile app.
- Country of origin. Netherlands.
- Price. It is paid in Bitcoin and for a minimum period of 3 months..: Beginner is 0.018BTC; Simple 0.032BTC; and Advanced 0.052BTC.
- Exchanges. Exchanges integrated by HaasOnline are 24, you can use your trading bot Binance, BinanceUS, Binance Futures, Poloniex, OKExFutures, OKEx, OKCOIN, KuCoin, Kraken, Kraken futures, HitBTC, Huobi, Ionomy, Gemini, Deribit, Coinbase Pro, CEX IO, Bittrex, Bitstamp, BitMex, Bitfinex, FTX, ByBit and Bitpanda Pro.
8. Gunbot
This crypto bot is a very good choice for any Bitcoin and cryptocurrency trader. Like Kryll, Gunbot has its own cryptocurrency → Gunthy. This coin can be used on the platform for various purposes.
Gunbot is one of the most experienced cryptocurrency bots across the spectrum, it has a lot to offer traders. This bot is downloaded to your computer as a program, and for it to be trading while your PC is off you would need a VPS These are its main functionalities:
- Downloadable bot. Gunbot is downloaded to your computer, so it does not run in the cloud. This means that unless you use a VPS to keep the bot connected all day, the trading bot will only analyze the market when your computer is on.
- Customizable bot. Each user can create the cryptocurrency bot based on indicators. As we have mentioned in previous Bitcoin bots, indicators and their respective settings should be chosen so that the bot starts trading based on those criteria.
- Indicators. Gunbot offers about 19 technical indicators with which the bot can be configured.
- DCA. The bot has the DCA (Dollar Cost Average) feature to make the bot buy more of a specific cryptocurrency when it drops a certain percentage.
- Arbitrage. Bot developed by Gunbot that they have named BitRage, a triangular cryptocurrency arbitrage bot.
- Telegram notifications. The bot can send you to your Telegram the results of your trades. In addition to when you have bought and sold a coin.
- TradingView. They have integrated this platform so you can use their charts and tools to help you in your crypto trading.
- Country of origin. Germany.
- Mobile app. They do not have a mobile app.
- Price. To get the Gunbot bot services, you don’t pay monthly, but make a one-time payment. They offer 4 subscriptions and payment is made in Bitcoin: Starter 0.02BTC; Standard 0.05BTC; Pro 0.075BTC; and Ultimate 0.125BTC.
- Exchanges. The exchanges that are integrated in this cryptocurrency bot are Binance, KuCoin, Kraken, Huobi, CEX IO, Bittrex, Poloniex, OKEx, Bitfinex, Bitmex and Kraken futures.
In short, Gunbot is a good option for all its functionalities, but its biggest handicap is that it is a Bitcoin trading bot that is not in the cloud. That is, it needs a computer turned on or to have a VPS so that the bot is always alert.
9. Bitsgap
It is a relatively young crypto trading bot compared to classics like Cryptohopper and CryptoTrader, but it has managed to find its niche in the market and add very useful and versatile functionalities for the trader.
Bitsgap features are:
- Already configured bots. Bitsgap offers some bots like the “Classic Bot” almost fully prepared to start your strategy. You only need to select the amount to trade and the cryptocurrency pair.
- Arbitrage. To execute this function, you need to connect the APIs of several exchanges and have funds in both of them. This way your bot will sell, for example, Bitcoin on your exchanges where it is more expensive and buy on the one that is cheaper. Thus, you get a good return by buying and selling cryptocurrencies on several exchanges.
- Bot not very customizable. Bitsgap offers several strategies already almost configured, but does not leave much room for the trader to configure his own strategy with technical indicators.
- Signals. The platform itself offers a list of currencies with high potential, unlike other services in which external traders are the ones who send these signals or signals.
- Trial period. 14 days of your basic package before you have to pay.
- Mobile App. They do not have a trading app for mobile devices.
- Country of origin. Estonia.
- Price. Bitsgap offers three monthly subscription packages, Basic at a cost of $19; Advanced for $44; and Pro which goes for $110.
- Exchanges. This crypto bot has integrated a large number of exchanges. These trading platforms are Binance, Bitfinex, OKEx, Huobi, HitBTC, Bittrex, KuCoin, Exmo, Kraken, CEX IO, LiveCoin, Poloniex, Bitstamp, Coinbene, ZBCom, CoinEx, Gemini, Gate.io, Liquid, LBank, TheRock, Bibox, Bit-Z, DDEX, BigONE and Bithumb.
Overall, it is a cryptocurrency trading robot with great potential but still needs to improve on expanding the range of user options when it comes to customizing the crypto bot to their trading style and strategy.
10. Coinrule
It is a rather young automated crypto trading bot located in London, which has obtained a good growth during the last year. In this 2023 it is picking up a lot of momentum to become one of the most user-friendly Bitcoin trading bots on the market.
As its name suggests, Coinrule is an automated crypto trading bot that consists of setting rules for the bot to buy or sell. A rule can be set up like this: 1. Buy ETH/BTC on Binance; 2. When Ethereum rises more than 2.7%. As you can see, the bot has two simple rules that it will use to open a position when they are met.
Let’s dig a little deeper into what this Bitcoin, Ethereum, XRP, etc. bot offers us:
- 24/7 Bot. This cryptocurrency bot operates in the cloud, so it will always be looking for trading opportunities according to your strategy and rules.
- Rules. The system of using rules for the crypto bot to open and close trades by following them makes it available to everyone to use these Bitcoin trading bots.
- Ready-made templates. For those who are amateur traders, they can make use of ready-made templates to start buying and selling cryptocurrencies quickly. However, offering ready-made templates or strategies does not mean that they are profitable. Please be well informed before using them.
- Mobile app. They have not developed an app for phones.
- Country of origin. England.
- Price. They offer 3 subscriptions and a very limited free one. These are: Hobbyist $29.99; Trader $49.99; Pro $449.99.
- Exchanges. Coinrule allows using its trading bot on Binance, Coinbase Pro, OKEx, HitBTC, Bitstamp, Bitpanda Pro, Kraken, Bitfinex, Liquid, BitMex.
Coinrule may not be the best Bitcoin and other crypto bot as they don’t offer the most trading options, but their cool user interface puts them on our list as number 10.
11. Quadency
This is a cryptoasset trading bot founded in 2018 that started more as a cryptocurrency portfolio control platform. The user could connect their exchange wallet to their Quadency account and have a better interface to do manual trading with their capital.
Over time Quadency started to incorporate automated strategies through cryptocurrency bots, until it became a good crypto trading platform very useful and easy to use. These are its features:
- Already configured bots. Quadency offers the user the possibility to choose fully configured bots for cryptocurrencies. That is, the user only chooses the one that best suits his trading style and method, once selected the robot will start trading automatically. Some examples of these are Bollinger Bands bot, Market Maker, Multi level RSI, etc.
- Manual trading. This section is called “Smart orders” and allows the user to place limit orders from Quadency to your exchange. In this crypto trading station you can add both stop loss and take profit.
- TradingView. Through the TV alerts system, any user can use them to generate trades in Quadency, as they have integrated this platform very well.
- Backtesting. They allow backtesting in the preconfigured bots they offer. Just by selecting it and adjusting certain parameters you can see how they have performed in a given period of time.
- Country of origin. United States
- Mobile app. No app available.
- Price. They offer a free version with extensive limitations; the mid-level subscription is the Pro with a price of $39; and the advanced is called Unlimited for $79.
- Exchanges. They have integrated 13 exchanges. These are: Coinbase Pro, Poloniex, Binance, Bittrex, KuCoin, OKEx, Kraken, Bitfinex, Gemini and Liquid.
To sum up, Quadency is a cryptocurrency trading software with a very intuitive user interface. It doesn’t look complicated at all. However, it gives the feeling of not having a large arsenal of automatic tools with which to automate the bot. They have the basic indicators such as RSI, MACD and Bollinger Bands but do not go much further. Therefore, for beginners it may be a good option, but for expert crypto traders it may be insufficient.
12. ProfitTrailer
This is another automated trading bot for crypto from the Netherlands. A country that has very seriously embraced the use of Bitcoin and has a great culture of trading and financial markets. ProfitTrailer is a bit along the lines of other cryptocurrency bots like Gunbot.
It was created in the bull market of more than 3 years ago now and has remained one of the most popular options. This is exactly why it is at number 10 in our ranking of best cryptocurrency trading bots. These are its features:
- Bot with VPS. This crypto trading bot does not operate in the cloud, so we must install a VPS to not worry that the most profitable operations occur while we sleep. The bot will trade them and you will get the profit (or loss) if you install a VPS, otherwise it will only work when your computer is on.
- Technical indicators. Profit Trailer offers the user about 10 trading indicators to create his strategy.
- DCA. Bot functionality for the bot to buy price dips. If the price of any cryptocurrency drops rapidly, it will buy cheap to take advantage of the drop. It is recommended to use stop loss to cut the loss in case the price decreases a lot.
- Trailing buy. It is a function for the bot to execute a buy when the price has, first, decreased a certain percentage and, second, has started to rise another certain percentage. This causes positions to be opened when the price is rising after a downtrend to take advantage of its pull-back or rise.
- Paper trading. Possibility to practice your strategy with fake money.
- Signals. Although they do not have many traders sending signals, they have this service.
- Country of origin. Netherlands
- Mobile app. They do not have a mobile app.
- Price. ProfitTrailer has 3 types of subscriptions for their trading robot and they are paid monthly. These are: Signals for €30; Basic €49; and Advanced €69.
- Exchanges. They have 12 integrated cryptocurrency exchanges: Poloniex, Bittrex, Binance, BinanceUS, Binance Futures, Binance Jersey, Binance DEX, KuCoin, Huobi, BitMex and Bybit.
All in all, ProfitTrailer is a good cryptocurrency robot but the fact that it does not work in the cloud and needs VPS, in addition to the fact that it does not have many technical indicators make it somewhat restricted in its customization capabilities when compared to other platforms.
13. Apex Trader
This cryptocurrency trading bot is one of the longest-lived in the entire market. It emerged in 2017 and started by creating connections with cryptocurrency exchanges and bots that could be created using technical indicators such as moving averages and MACD. However, they don’t seem to have evolved much in the last two years in terms of new features and other functionalities.
Therefore, this crypto trading bot is useful but the amount of tools has been reduced compared to other services of this type. Its features are:
- 24/7 bot. Apex Trader includes a hosting so that the bot can trade all the time, without a break. This way, you don’t need to keep your computer on for the bot to open and close trades.
- Free trial. Yes, 7 days free trial.
- Technical indicators. Apex offers 48 technical indicators that can be found in TradingView. It also has access to candlestick patterns for the user to customize their bot and strategy.
- Manual Trading. They offer a manual crypto trading interface where the user can buy, sell and place sell orders with stop loss and take profit.
- Signals. There is a limited number of traders who send trades and can be copied for a monthly subscription. Basically, users can also have a signals bot for cryptocurrencies.
- Mobile app. They do not have an application.
- Country of origin. Unknown.
- Price. They offer two types of subscriptions. An intermediate one called Apex (Spot) for $30, and an advanced Mako for $60.
- Exchanges. They do not offer a detailed description of their integrated exchanges. They only list Binance, although they may have integrated more.
The bot has effective qualities for cryptocurrency bots, but there is a certain lack of transparency when it comes to showing its components and developers, as well as in better detailing all its functionalities. The little documentation they have is more than scarce to make the decision to try the bot. It even gives a certain feeling of laziness, since its links to social networks do not go anywhere.
14. Margin.de
This cryptocurrency trading bot was founded in 2014 and is a downloadable software. That is, it is not located in the cloud. The advantage of these is that they tend to work faster than those found on a website, but they are lacking in other functionalities. Let’s take a look at them:
- Downloadable software. As we have just mentioned, it is a software that is installed on your computer, so if you want the bot to operate 24 hours a day, you would need to make use of a system that would keep it active all day analyzing the market.
- Intuitive bots. Margin.de provides the user with easily configurable bots using well-known technical indicators such as MACD, Bollinger Bands, RSI and others.
- Trading Manual. With the fact of being a downloadable software, order execution is very fast, latency very low and overall efficiency is good. Therefore, they offer a very user-friendly manual trading station.
- Code. If you have coding skills, you will be able to create your own strategies in their editor by means of scripts.
- Mobile App. No.
- Country of origin. Germany.
- Price. They offer three types of monthly subscriptions: The basic is the Starter for $19; the medium is called Standard for $39; and the most advanced is the Whale Trader with a price of $199.
- Exchanges. The cryptocurrency exchanges they have integrated are Kraken, Binance, Binance Futures, KuCoin, Bitfinex, Bithum, Coinbase Prom Bittrex, Okcoin, Bitstamp, Coinone, Gemini, Binance Jersey and Binance US.
Conclusion, it is a good cryptocurrency trading software, however, the fact that it does not have a web version keeps it a bit away from the more novice traders. As well as its interface is not as intuitive as other options in the market.
15. CryptoTrader
This cryptocurrency bot was one of the pioneers in crypto trading via APIs with exchanges. But what inspired many other bots, stagnated soon after being the market innovation.
Cryptotrader is a cloud-based bot that allows traders to connect their wallet to their exchange and use some indicators to create the cryptocurrency bot. However, it has become somewhat obsolete in the absence of updates and, above all, a website that encourages people to subscribe. Its main features are:
- 24/7 Bot. This service is hosted entirely in the cloud, so the bot “does not sleep” and will always look for buying and selling opportunities in the markets you have selected and according to your settings.
- Marketplace. They offer a marketplace where you can buy and sell strategies and indicator configurations.
- Backtesting. Strategies can be tested over a certain period of time in the past. In this way, the user can test his trading bots before using them with real money.
- Free trial. 7 days free trial.
- Mobile app. No app.
- Country of origin. Unknown.
- Price. The price of the bot starts at 0.003BTC and its premium plan is 0.0472BTC.
- Exchanges.supports 8 exchanges: Bitfinex, Bitstamp, Poloniex, Coinbase, Kraken, Bittrex, Okcoin and Binance.
Despite being one of the main bots in this industry, the information it provides, the user interface and in general the whole web, it can serve as a bot but it cannot compete with other services of the same type.
16. Zenbot
If we could differentiate between bot and platform for cryptocurrency trading, Zenbot would fall into the first category. This bot is not very advisable for beginners, as it is not a platform on a website, but a downloadable file from GitHub compatible with Mac, Windows and Linux.
It’s totally free, but like everything in life, the lowest cost things tend not to be the best. And in the case of Zenbot, the creators have not continued to develop it to provide a user-friendly interface. Let’s take a look at its features:
- It is not in the cloud. Since it is downloadable software, it will only work when the computer is on. Unless a VPS is used.
- Preconfigured strategies. The bot offers some simple trading strategy already configured in which it uses some technical indicators.
- Configurable strategies. It also allows the user to configure their own strategies with the tools that the bot makes available.
- Telegram. It is a cryptocurrency bot integrated with Telegram so that it can be operated from the app and receive notifications.
- Mobile app. No.
- Price. Absolutely free of charge.
- Country of origin. Unknown
- Exchanges. It integrates the most popular ones, such as Bitfinex, Poloniex, Binance and Bittex.
Although it is a free cryptocurrency trading bot and one of the longest-lived, we advise against using it unless you are looking for something free and have experience in the crypto trading world.
The factors that determine the best trading bots for crypto
Now that you know what cryptocurrency bots are and how they work, let’s list the factors to consider when choosing one. It is crucial to know how to choose which crypto trading bot to go for the mere fact that you are investing your own money and capital. This is even more important in the world of cryptocurrencies, since in many occasions there is not much regulation on these platforms. Therefore, we present the most important factors to take into account when choosing a crypto trading bot.
Transparency with crypto bot creators.
Most of these services are legitimate and safe, especially the ones we highlight in this article, but there are always going to be scammers and fraudsters trying to steal your money. For this, one of the clues to know that the cryptocurrency trading bot has specific creators that you can see them and even talk to them. The “About us” option will give you enough information to know who are responsible for a crypto bot.
Security
Security is a key issue when investing our money in a new place, and even more so if we are talking about cryptocurrencies. In this type of service, you give your trading bot almost total control over the funds in your cryptocurrency portfolio in the exchange. For this reason, you must make sure that your funds are always deposited in the account of your cryptocurrency exchange and not in the crypto trading bot platform.
This is because exchanges are usually more resilient companies with higher layers of security as they have cold wallets or funds that cannot be hacked, and sometimes they also have theft insurance.
Good interface
The interface and ease of use of the trading bot for crypto is crucial for a good user experience. A factor that will undoubtedly affect your profitability as a trader. If you trade on a trading station that is not organized for the user, your trading can be strongly worsened.
On the other hand, cryptocurrency bot sites that are clean, organized and clear make it much easier for the strategy to succeed. In addition, there is probably a correlation between the quality of the trading platform and its interface.
Features and tools
The amount of options provided by the crypto bots is one of the most important points to take into account, since the tools offered by the bot will significantly affect the profitability of the operation.
These can be the amount of technical indicators offered, if it incorporates cryptocurrency arbitrage bots, the possibility of copying other cryptocurrency traders (copy trading), the response time when executing purchases and sales, and other aspects related to the amount of errors that the bot may have.
Trading styles
Some cryptocurrency bots only focus on automating buying and selling through indicators. But others do not, other platforms make the user can automate their trading with cryptocurrency arbitrage bots, market making, grid bots and other types or styles of trading that vary from the general. In short, they offer a wider range of strategies for the crypto trader to decide which is the most profitable for him.
Profitability
Although the history of happy traders on a cryptocurrency platform is important, profitability is determined by the bot’s strategy. The best cryptocurrency bot can be found giving a couple of rather simple strategies as well as an extremely complex algorithm. Therefore, the profitability among crypto bots is very relative.
Advantages of using Bitcoin, Ethereum and other crypto trading bots.
The cryptocurrencies market is becoming more and more popular because of the great returns it has. A return that can be further increased with a good trading strategy, and a bot can be one of the best solutions. These are the great advantages of using cryptocurrency robots in your trading:
1. The bot does not sleep
By simply configuring the bot with your crypto strategy, the crypto bot will look for profitable opportunities day and night in the markets you have selected (as long as it is hosted in the platform’s cloud). It doesn’t matter if it’s two in the afternoon or 4 in the morning, the moment the price offers a good entry, the bot will take it and close according to the parameters you have configured.
It is very common among traders using cryptocurrency bots the feeling of waking up any given day in the morning to go to work and suddenly seeing messages on their phone that their bot has closed three positive trades during the night. Efficiency raised to the tenth power.
2. Emotionless trading
This is one of the biggest problems of entry-level and mid-level crypto traders: emotions. Trading is a practice in which adrenaline can go from the clouds to hell in a matter of seconds. From believing you are Jordan Belfort to being one more who has left trading. For this reason, the management of emotions or psycho-trading is more than fundamental in many trading. But… what if they are bots? They just follow orders, they don’t get too motivated or depressed like us humans.
One of the great advantages and arguments in favor of using robots in your trading is that they do not obey emotions that end up sabotaging your strategy. They will not buy on instinct, but on the basis of an intelligently defined strategy. This in the medium and long term is what will make you money.
3. Many tools at your disposal
This type of cryptocurrency trading bots offer a lot of tools to create your strategy and analyze any market. The possibility of having a good number of technical indicators, chart analysis tools and functionalities of the robot itself will allow the trader to learn and have more resources to improve the profitability of its operation.
4. Faster performance
The execution speed of a robot can be more than 20 times faster than that of a human being. The bot executes the trade as soon as the criteria of your strategy has been met, so your order will be among the first to be executed when the opportunity arises. Even the fastest execution of a person would be a few seconds later than that of the bot. A few seconds that implies that the order goes much further back in the queue of orders to be executed. A few seconds that can make the profitability of an order go up in smoke and you may even get a negative result.
5. Complex strategies at your fingertips
Through an automated trading bot, the user does not need to know in detail the strategies he wants to use. This is the case of strategies such as cryptocurrency arbitrage, in cryptocurrency bot as Cryptohopper any user can create an arbitrage strategy without great knowledge about this practice.
Cryptocurrency arbitrage has proven to be highly profitable in this market due to the immense volatility of cryptocurrencies and the price differences between crypto exchanges. Generally, Bitcoin arbitrage has been and is a technique widely exploited by traders with a certain amount of capital.
6. More free time for you
Many processes in today’s world are trending towards digitization in order to free us from tasks that can sometimes be repetitive or that a robot can simply do better than us. Cryptocurrency trading is one of those, and Bitcoin bots have come to free us up and give us more free time to do the things that really matter in life.
7. Constant optimization
Being able to partially or fully automate your operative will free up a lot of time to analyze the results of your strategy. In this way, you will become a data analyst to constantly improve the profitability of your cryptocurrency bot.
Disadvantages of Bitcoin and crypto trading bots.
As with everything, there are also disadvantages to any cryptocurrency trading bot. There are certain aspects that we should be aware of in order to limit possible losses. These are the following:
1. Need to monitor cryptocurrency bots.
While these automated systems take care of much of the trading, they should not be 100% independent. These Bitcoin bots need to be monitored at most on a weekly basis, as conditions are very changeable in trading and what works today may not give the expected results tomorrow. For this reason, monitoring the automated strategy from time to time will help maximize the return,
Lack of perspective
Although on many occasions this weakness can be alleviated with an impeccable configuration of the cryptocurrency bot, on certain occasions it will need some human intuition to improve results. An intuition that can be based, for example, on knowing where we are in the market cycle.
3. Inappropriate configuration
It is normal that someone without much experience in crypto trading sets out to create a cryptocurrency bot and forgets to configure certain important parameters, or simply does it wrongly. This can pose a danger to the account and that is why it is highly recommended to have some knowledge before trading in real. Another good option is to practice in demo mode, with fake money.
How do crypto trading bots work?
Cryptocurrency trading bots are made up of a set of technical indicators that signal three types of states: buy, sell and neutral. When all, or most, indicators signal “Buy” on a specific cryptocurrency, the trading bot strategy would buy that coin automatically, without the need for human intervention. Likewise, when the crypto strategy signals a sell, the bot would automatically sell, either by means of a stop loss, take profit or simply that the indicators have “Sell” as a status.
Let’s say that to know how to make a cryptocurrency bot the trader must follow the steps we describe below:
- Select the cryptocurrencies you want to trade.
- Choose the indicators that will make up your crypto bot.
- Configure the indicators so that they know when their status will be buy, sell and neutral.
- OPTIONAL: Configure other parameters such as stop loss or take profit.
- End. Your bot is ready to trade.
Overview of the best crypto trading bots
To conclude, we draw the conclusions of the best cryptocurrency trading bots from the entire World Wide Web. For this purpose, we are going to choose the bes t cryto trading bot that contains the following features:
- Operate 24 hours a day, 7 days a week and 365 days a year. In other words, it must be hosted in the cloud of the platform that offers it.
- Have as many tools as possible to create the bot for cryptocurrencies. These can be many technical indicators, already configured templates, integration with Telegram, signals or copy trading and manual trading.
- Be able to follow or copy experienced crypto traders, either by signals or other copy-trading style.
- Variety in strategies, such as a cryptocurrency arbitrage bot, DCA bot, market making, etc.
- 24/7 support. In any investment vehicle it is essential to have people nearby who can assist you in the most complicated moments.
- Integration with many exchanges so that any user can choose the one that best suits their preferences.
- Transparency is a crucial factor in placing trust in such a platform. Knowing who the creators are and where the company is located gives a great sense of confidence.
- Finally, security. To keep the funds as safe as possible, they should always be deposited in the wallet of your cryptocurrency exchange, not in the crypto trading platform.
After having tested the different automatic Bitcoin trading bots and following the factors described in this section, there are a couple of bots that stand out above the rest. The final choice of the best cryptocurrency bot is… CRYPTOHOPPER.
Because of its great service, amount of technical indicators, candlestick patterns, arbitrage bots with Bitcoin and other crypto, market making and so on, we consider it a good choice for both beginners and experts.
As a conclusion, most cryptocurrency trading bots are suitable and do their job. Other factors such as the tools you are looking for and the cost of the subscription should also be taken into account when deciding on one.
Enjoy your automatic crypto trading!
Below you can also view this article where you will find information about the best no KYC cryptocurrency exchanges and the advantages and disadvantages of anonymity.