|1. Cryptohopper||2. 3 Commas||3. Zignaly|
Cryptocurrency, like any other trading commodity, has boomed in the past few decades. This currency has traveled across the world from billionaires to accountants. Earlier this decade when the value of these currencies (bitcoin) rocketed, it became a mode of higher trade and found its way into wall street. It still prevails in and around the globe as a new mode of trade (currency), but now has evolved into something of an investment jar.
To transact such investments, the brainiacs in the tech industry came up with a platform of trade and profit- a software or algorithm that helped everyone and anyone participating in this big trade game. These softwares were created for the purpose of making cryptocurrency trade easier and less tedious.
Today, the trading industry is filled with the best crypto trading bots and softwares that work as a medium for trade between the cryptocurrency and the trader. These applications are a set of algorithms which keep on trading and managing your cryptocurrency 24/7. Knowing very well that the cryptocurrency market is highly volatile and never stable, these applications keep the trade going according to the market.
Best Bitcoin Trading Bots: How to Choose One?
With new trading bots coming into existence daily, it is always a gamble when it comes to choosing the right one. There a plenty of new ones with flashy features and tools, but do not give a profit any time soon, whereas there are certain less flashy ones which yield good results very quickly.
Before deciding on a bot, make sure to look for these features in them:
1) Automated Trading
One of the main features of any legitimate trading bot is that the trade is always on the run. This means that be day or night, the bot will always be trading on your behalf. This sort of trading system is way better than any human trader, considering its round the clock trading and multiple tradings are done simultaneously.
You also do not have to worry about panic sales and greedy purchases happening suddenly, this is because the bot prevents such trades, and makes sure the user is benefitting the most out of this experience.
2) Indicators and Signals
Many trading bots function with the help of indicators. Indicators are nothing but valuable information given to the bots by professionals analyzing the trade market and its fluctuations and give tips to the bot.
These tips are considered by the algorithm and along with the external signals it receives, the bot makes decisions on it. Buying and selling certain points on the chart is all based on these indicators. Indicators play a major role in any crypto trading bot, so always choose the one with the most features of signals and indicators.
3) Real-time Backtesting
Backtesting is a traders’ method to verify the strategies made by user or algorithm, by collecting data from the past years and formulating that data to check the best possible outcome. If the strategy does not work out well, you can always take up a new method and backtest it with the required data.
This is one of the most important features that any trading bot should possess, as it helps to provide the best strategies to the user. The software gives out a detailed report for your strategy and also a few insights to where losses are more. Once you configure it and allow the bot to trade in accordance with your plan, your profits and trading will have a new high.
4) Hidden Fees or Restrictions
Try choosing a trading bot that has no hidden fees or restrictions after you take the subscriptions. Many times, illegitimate bots provide the subscription and services for a very less rate and then after a few trades, it starts asking for more money to unlock the remaining of its features.
The use of these kinds of bots are not advisable. Any good trading company gives out all of its services for particular tiers of pricing and will make sure that nothing is restricted or scammed. Though some of the prices might be high but the features given out will be exactly what they will promise and there will not be any increase in the price later.
Also, avoid any extra fee on the number of orders placed. Once paid, you should be able to invest unlimitedly and freely.
Though trading bots are nothing but rules and logics that are put into a software to yield profitable results, they are supposed to be much more than that. There used to be a time where there was a real-life human being sitting in a cubical, staring at trades and making calls to his/her clients. Now, all of this is being taken care of by a software.
This software has to be user-friendly and easy to understand. Because most of the traders are just amateurs and have little to no experience dealing with the trade market.
Thus, the bot should be equipped with extremely user-friendly software which helps the user to trade fearlessly and comfortably.
Many new bots have also started the beginners version where they teach a new user step-by-step about trade and cryptocurrency. Try seeking a bot with this new feature as well.
Top 15 Best Crypto Trading Bots 2020
Cryptohopper is a cryptocurrency trading company which was started by two brothers, a day trader and a web developer. They first came up with this idea when they got introduced to cryptocurrency and knew that this new market was going to break the glass ceiling and become bigger than ever.
As predicted correctly, Cryptocurrency took a new face in the market and their invention the Cryptohopper took off. Today, Cryptohopper is one of the largest and most reliable trading bots in the world.
Technically Cryptohopper is a trading bot (robot) made by a very intriguing algorithm designed to keep the trade going on the users’ behalf 24/7.
This software was basically designed to simplify the trading process, and to guide and assist traders with minimal trading experience to make the most of their trading opportunities. This bot helps indicate all the technicalities of a professional trader. Once subscribed, this company also provides the user with signalers based on the cryptocurrencies the user wishes to invest in.
This software has links with many exchanges like Poloniex, Binance and Bitfinex. These trades will be happening on your behalf, thus Cryptohopper ensures a highly secure method and feature.
This bot has a very user-friendly interface, you can customize your profits and currencies. The bot will buy and sell them through the API (Application Programming Interface) and with the help of its signalers as well. Taking trade to a new level, this online trading tool has never failed to amaze and help users make profits from day one.
3Commas is not like most of the trading bots in the world. Since the crypto market is very volatile, many trading bots have difficulty configuring to the sudden change. This sudden change normally includes sudden drops and rises, and the algorithm might not be equipped to handle it. But 3commas is one of the most elite trading bots. Its ability to adapt to change is uncanny.
Trading with 3Commas is rather safe and fun at the same time. Many trading bots aren’t accustomed to experience change quickly, but 3Commas has the unique feature of trailing loss and trailing profit. In most of the bots, the algorithm will sell your share as soon as it notices the rate dropping and will purchase it as soon as it rises. But 3Commas will look at the past experiences with your share and will not purchase it if it has dropped many times. There is no going back to weak investments.
The trailing feature provided by the 3Commas helps to achieve most of the profit in the safest way. The bot analyzes the market conditions and history-making sure to sell your coins at the right time. Ensuring the maximum return and profit of your investment. The bot adapts to changing market conditions with the help of this feature.
3Commas bot provides all the features that are available on any normal trading bot such as stop loss, take profit, automatic trade, etc. The bot is server-based and is hosted online which makes it always available when there is internet.
With the 13 most popular crypto exchanges including Binance, Kucoin, Bittrex, etc, the bot offers its services at three different packages with the first tier costing about $22 per month and the topmost expensive package costing you $75 per month. If you trade only on Houbi exchange, then the bot is completely free and can be used without a subscription on that exchange.
In this day and age where the market is really hard to rely on, you can always trust 3Commas and its algorithm. With the smart tools and features, you are guaranteed a good and worthwhile trading experience.
With new crypto trading bots coming up daily, many of them have a beta version available. One of the best in the market is the Zignaly bot which is still in the early stages of its development and is relatively young. In spite of it being new, many users have given it good reviews and have claimed to yield reasonable profits on short periods of time.
One of the best features of Zignaly trading bot is that it can be integrated seamlessly with TradingView. Despite being in its beta stages of development, the users haven’t complained about any issue with the integration, concluding that the developers have designed the software keeping in mind the complexity for the users.
TradingView works on an API that takes help from f the Binance trading exchange. Thus, the Zignaly bot can be used to apply various trading strategies directly on the Binance platform. For now Binance is the only platform Zignaly works on but developers claim to add more to their original versions.
There are many new and unique features integrated into the trading bot by developers. They include, unlimited pairs on purchases and transactions, and an option to edit the positions as you like.
The ultimate goal of Zignaly team is to provide users around the world with a trading bot that is available on all major exchanges. The developers have created a user-friendly ecosystem on the bot, offering quite a lot of features in the beta versions and bringing a lot more in the complete version.
Kryll.io was launched in 2018 by a team consisting of Luca Benevelo, Philippe Longere, and Paul Collorafi, it possesses some of the most advanced features for creating your trade strategy which can be used by various users without any prior programming experience. This platform will provide you with simple and powerful tools that will enhance your profits and trading ideas.
The Drag and drop condition or indicator blocks, help Kryll.io form basic strategies and advanced automated strategies. None of this requires one line of professional code.
Kryll.io is also known for offering various blocks which can be linked; such as logical operators, market indicators, value triggers, improved technical analyses, information and notification blocks. As the platform is evolving, new functionalities are being added, like risk analysis tools and new blocks. Most of these are based on Artificial Intelligence.
Gekko is one of the most popular free Bitcoin trading bot. Its simplicity is the best as it can be downloaded from the GitHub platform.
One of the best qualities about Gekko is that it is an open-source piece of software, which means that it is constantly being improved by talented developers all around the world.
Gekko is very user-friendly and easy to use. Especially for rookies in the bitcoin industry, learning the ins and outs of this trading bot will be the least of your worries. The software is equipped with essential trading features.
These features include a web interface that is designed to curate your trading strategies and data. Also, this bot runs on some backtested data and help you conclude future trade results.
The creators made this bot open to all major operating systems like macOS, Linux, and Windows. However, one downside to this is that Gekko is not high-frequency trading which means it does not execute the so-called arbitrage trades.
This bot was created by the HaasOnline back in the beginning in 2014. The trading bot is supported by many Bitcoin exchanges ( Bitfinex, Poloniex, BTCC, Huobi, Kraken, Gemini and GDAX) and not only trades Bitcoin but altcoins as well.
This trading bot is not like many trading bots as it requires some input assistance from the user, before trade execution. The bot comes equipped with some technical indicator tools which help ‘predict trade trends and patterns which can prove profitable to the user.
Haasbot does take some time to grow on you and it eventually will. With a strong user interface and set of instructions, Haasbot will guarantee profit. Even the pricing is different than that of other bots, this costs about 0.32 Bitcoins every 3 months.
7. BTC Robot
BTC is a veteran trading bot, it is one of the first Bitcoin trading bots in the industry. Many modern bots today have in one way or the other taken inspiration from BTC. Available on all platform, this bot is user-friendly and easy to use. (However, the cost of this might vary from OS to OS)
The trading bot has proved easy to install as well as use. Despite some negative reviews on the market BTC is still running strong. Nonetheless, many users have managed to make substantial profits, and still rely on this bot for the professional trade. With a decent algorithm trailing strategy, BTC is and will always be a strong player in the game.
8. USI Tech
The USI Tech was first designed by Forex trading. USI tech is a very different trading bot. Unlike most of the bots where you have all control over your trades and strategies, USI Tech goes a different way. In this, you do not have control over your bot. But you can easily make a profit out of it.
Once you choose on installing this, the bot will ask you to buy certain commodities from the expert Bitcoin trade, and then the USI TECH bot takes over and will guarantee you some daily profit from the said trades.
You can choose a Bitcoin investment plan of your preference which in turn will earn you about 1% of your total capital on a daily basis.
This bot does seem shady and looks like a scheme. It is good to experience all types of trading bots to see which suits you the best, but it is always advisable to stay away from such rigid software.
CoinBot is one of those rare bots that are built on open-source code, the CoinBot cryptocurrency trading bot is basically a rental service that helps traders trade daily (automatically).
CoinBot has a lot of features. This makes it one of the most widely used trading bots in the market. It runs on a multi-tier commission program that makes it one of the most lucrative rental services in the world as well.
The whole software is cloud-based, meaning that the users don’t have to install the program on any device. Users praise the transparency of this bot because all the information about their team, programs, and their entire project of operation is given on the official website of the project.
The code of the program can be changed to give higher profits through the open-source code that is available on the Github page. The referral system is also very good providing up to 50% in commissions, making it an effective way of marketing.
There is an option to buy and use additional services through the rental program. Users claim to pay extra just to gain the three additional features which include the Telegram Assistant, Arbitration bot, and the Social Analyzer.
These three add-on services have their own uses and are quiet worth it. The bot will automatically send an alert to the trader when the loss reaches 10% on a trade. It helps the users know when the time is right to buy or sell the trade.
Leonardo is a relatively new trading bot in the market. This is being supported by Huobi, OKCoin, Bitfinex, Bittrex, and Poloniex. It is expected to be supported by multiple other exchanges as well in the future.
This bot comes with two major trading strategies known as Margin Maker and Ping Pong. Leonardo is extremely user-friendly and is one of the best-looking trading bots when it comes to design and graphics. This can be customized as per the users requirements.
Though new, this bot shows promising features for the future and will definitely prove to be a hit.
11. Crypto Trader
Crypto Trader is by far one of the most popular Bitcoin trading bots among traders. It mostly cloud-based which means that it does not require any sort of installation on a physical computer and can be customized by its user for the correct results.
With a newbie guide and simple algorithmic logic this bot is very easy to use and can be tweaked as per the requirements of the user.
The strategy market feature allows you to trade strategies with other traders like many other bots. Features like the backtesting tool which enables users to test the trading strategies against the past data as well as the present market conditions.
This is one fancy bot for beginners as well as veteran users.
Zenbot is yet another free bitcoin trading bot. Just like Gekko, ZenBot i also an open-source bot. It is open for use on all major operating systems and platforms and can be modified to fit every user’s preferences.
Zenbot was initially created using artificial intelligence. As such, unlike Gekko and other free bots, it is know for executing high-frequency trades.
Zenbot supports trading on various exchanges like Kraken, Gemini, GDAX, Bittrex, Quadriga, and Poloniex. ZenBot developers of this trading bot stated that they are still working on improving the bot in the future.
Gunbot is a unique trading bot, it features many inbuilt strategies which includes Bollinger Band, Ping Pong, and Step Gain, etc.The bot has three major service plans that vary in price. The prices range varies from 0.1 Bitcoins to 0.3 Bitcoins and works on a commission basis.
Gunbot allows the trade of several cryptocurrency exchanges including Poloniex, Kraken, Bittrex, and Cryptopia.
While using this trading bot, it is advised to pay keen attention to your trade. Because Gunbot does not automatically withdraw any coin as it sees losses. Thus, constant monitoring is required.
For beginners and newbies Gunbot is the go-to trading bot and is for sure is one of the best bitcoin trading bots in the market.
Autonia is again one of those very rare and amazing bots that have made their software on a decentralized platform. Making their trade hassle-free the developers made sure Autonia offers something new to the table.
The entire structure of Autonia is built on a decentralized platform, which means that there is no single source control.
Marketed both on the retail and the professional trading platforms, the Autonio cryptocurrency trading bot has many new built-in features for the creation of the various external signals that rely on the in-built trading strategies. Users have a complete access to all the technical indicators.
Autonia also houses a marketplace, where users can exchange and share various trading strategies and algorithms that have profited them. If any new user does not have enough knowledge about the building strategies, he/she can easily choose one from the marketplace.
This bot is not free, it comes at a moderate set price. The average price comes around $50 per month and the users can download it for all the major OS like Windows, Linux and macOS on computers/ laptops.
Crypto World Evolution or CWE is one of the best bots in the market. CWE has time and again proven itself to be one of the most profitable bots in the world. The plan for this bot is marketed through Multi-Level Marketing, which means that there are additional financial aspects to the bot other than its automatic trading value.
One of the best qualities about this bot is that you are not giving your money because of the bot’s algorithm. Instead, the API access built in the bot helps it gain access to the money that is floating within the accounts of the exchanges.
The bot is mainly known to trade with Bitcoins. Thus, you will be required to add the fund from the BTC to your accounts. After that you are allowed to select the coins with which you want the bot to trade in.
You have total control over the number of trades that the bot can execute simultaneously. You have an option to either sell the trade manually or set a base after which the bot will sell the trade automatically.
Based on past experiences the bot is known to close many trades in one day, but also almost no trades in the same time period.
Again this is all based on the volatile market. Thus, on an average, the bot will provide you with nearly 2% of profits on each trade.
What is a Bitcoin Trading Bot?
In context to the trading world, a trading bot is a series of software programs that communicate and function directly with financial exchanges. These softwares are accommodated to purchase or sell trade orders on your behalf, after carefully analyzing the market and its activities.
The best crypto trading bots make the correct decisions by monitoring the market, and particularly, its price movement. Once, the software decides that it is safe and profitable to transact, then they react based on the settings made by the user or pre-defined settings.
Typically, a trading bot will read and carefully evaluate the market actions such as prices, orders, volumes and time periods. Modern trading bots are advanced, and have been programmed in a way such that it suits your strategies and preferences.
The best bitcoin trading bots are growing in popularity, and are gradually taking over the conventional financial markets. But just like any other Wall Street agent, trading bots initially cost a lot for their services (but this includes strategies, round the clock trading, and timely withdrawal when the graph drops) but on the contrary, promise a sizable profit.
But in the modern market, some of these trading bots are free, and many legitimate ones command substantial fees on a monthly or yearly basis. What makes this piece of software so special is its utility and the level of analysis it offers to the common traders, which they can use to their advantages.
If used correctly, the best bitcoin trading bots can be a tool that helps crypto traders stay profited and way ahead of the trading curve when it comes to market movements. They can either base their trade on the information of developers or from other fellow traders themselves, while some prefer to use help of more established traders and analysts and their strategies, that apply on their trading routines to gain more profit.
What’s Good About Crypto Trading Bots
1) Very Versatile and Resourceful
Trading bots not only predict the market fluctuations but they also provide you with a variety of trading tools, forming a strong system that focuses on yielding profitable results. With this system, you are promised a quick, safe, and secure trading experience.
2) Round the clock Trading
Unlike the human traders who are time restrained, a trading bot doesn’t take any sort of breaks. In addition to this, they have no family or friends responsibilities. This means that trading robots are programmed to trade for 24 hours continuously. This might be impossible with human traders. So, with the help of these bots, you can always buy or sell your trade round the clock, whenever the time is right.
3) No Emotional Constraints
Fear is a very big hurdle when it comes to trade. It acts as that resistive force that restricts you from making the risky yet right decision. On the other hand, there is also greed and other emotional forces that make decisions for you to indulge in random trading situations. These emotional constraints are not present in the trading bots. The trading robots do not take decisions based on hunches, or gut feelings making them more efficient in trading than any human.
4) Very quick to grab opportunities
Bots are designed to be faster than any other human because, speed is of the essence in trading. The faster your network and connection, the faster your bot operates. This implies that it would take many great minds to achieve what a trading robot can in a single trading session.
Trading robots are known for doing two or more trades at the same time. With the tools they are equipped with, multitasking makes your trade easy and efficient. This feature, eliminates the straining aspect of being lued to your screen tracking your trade. The best crypto trading bots are very good multitaskers.
What’s Bad about Crypto Trading Bots
Not so articulative
Bots are nothing but a set of rules and logics that are made to perform tasks on their own, however, they might misunderstand certain instructions you do provide them. As a beginner, this might be a problem for you, because in spite of any instruction you give the bots, at the end, if it does not feel that might profit you, the bot will take the decision best suited for the situation.
The bots are relatively a new technology that are not so well versed with many tricks and trade information yet. So, if a customer makes an order that is beyond the bot’s scope of knowledge, that could be a problem to the bot. The bot will either not execute it or will misunderstand the whole data.
Human Vigilance is required
Human curation is necessary when it comes to trading with bots. Many users are still having a hard time trusting a software more than any human, thus they resort to timely checkups on the application. Though there are still a large amount of traders that prefer humans more than any other kind of software. Mostly because, they can simply talk, discuss and have trustworthy conversations with human traders.
Hacking and exploiting might be possible
Since the whole set up of trading bots are based online, it has become easier for hackers to exploit people through sending malware and other decoding material to get access to the stocks and their currencies. A skilled hacker can easily access your online accounts through these software and change the whole dynamic of your trade.
But the advantages outweigh the disadvantages when it comes to the best free crypto trading bots. With technology and trade rising and expanding daily it is rather easier to rely on something that can and will gaurentee you a profit in a least treadiuos method. So, clearly trading bots are preferable and useful in today’s world.
Can We Really Make Money from Bitcoin Trading Bots?
The cryptocurrency is a very volatile commodity in the market, the question to invest or not often occurs in every rational user’s brain. The fear of losses haunts the common investor almost every day. But again, investment is a big gamble (a healthy one), you either take your losses or you earn your profits.
With the rapidly expanding technology and methods to earn money, every trade can be done online through many trading bots. But after understanding the gambit, you would ask if these algorithmic bots are to gamble with?
Ideally with all the amazing “loss defying” tools and features anyone could earn double the profit. But with the constant fluctuation of the cryptocurrency trade, there is always a risk involved, that any risk taker should be willing to take.
Imagine if all the strategies that are formed using this trading bot are subjected to a slow and low risk market, you will end up earning high profits on each trade but the cryptocurrency market is way too volatile for high returns on investments.
Extreme stock value fluctuation in the market happen twice or thrice in a year, and the rest of the times, the market is slow rising and prices have seen quite drastic drops as well.
That being said many trading bots still defied most odds. Users reported to have earned between 1% to 10% profits on an average. With the intense algorithms and evolving strategies, earning a 10% profit while sitting at home (office or wherever) does not seem bad.
So yes, you can really make money with trading bots. (Keeping in mind the strategies, methods and the fact that the market is highly unstable) .
Best Bitcoin Trading Bots: What’s Your Pick?
While cryptocurrency trading is not a walk in the park, trading with crypto bots may be confusing and risky for many first time users. But then again, Bitcoin trading is itself an acquired taste and isn’t suitable for everybody.. There are many trading bot suppliers in the market. These trading bots are used by many traders and each is backed by years of extensive hard work. Reliability, trustworthiness, smartwork and proactiveness being top reasons for choosing any cryptocurrency trading bot, picking up a trading bot is a hefty task.
In this unpredictable world of cryptocurrency, trading is very risky and confusing. Entering into this world of volatility and risk can be stressful. But, it would be less stressful if you have a brilliant algorithmic bot on your side. Thus, start investing and venturing into the deeper depths of this trade market, and emerge with the pot of gold (profits) that you have always desired, with the help of a legitimate trading bot.