The riskiest way to make money in trading. That’s it. It is highly volatile and decision-making by humans is often delayed and limited. They are also driven often by emotions. Crypto trading bots are considered “impractical”, as even professional traders can have bad days. Some have bad quarters.
It is impossible to predict or estimate the price ranges of any token. People can only guess. It is impossible to make educated guesses and assume based on historical data and, sometimes, emotions. Not everyone has the time or the resources to research the best trader. This is why people have come up with a solution.
Trading robots were created to do exactly that.
The crypto trading bots can trade 24 hours per day without emotion and can perform calculations far beyond what the human brain can. It analyzes the market to determine the best time to sell or buy each token. This is only one strategy.
However, not all trading robots are able to make a profit. They lose most of the time against the market. Crypto trading bots are only as good as its creator. We’ve compiled the top trading bots you can use today.
Is auto trading legal?
It is important to DYOR (Do Your Own Research) because we are discussing your money. This is why you are here. We are not experts in this field, It’s important to remember that I am not a financial adviser. Always refer to multiple sources before you pull out your credit card.
Is auto trading safe? The majority of the time, yes. You should make sure they are licensed by governing organizations like FinCen and that they are legal entities and not just freebies you downloaded.
There will be fees, but that is a cost that you should pay for your peace of mind.
Nevertheless, let’s talk about trading bots. How do they work?
What are trading bots? How do they work?
These are platforms or scripts that follow a set of rules. This allows you to automate the selling and buying. The idea behind trading platforms and bots is to buy low, sell high. Trading platforms and bots make more complex calculations in order to make a profit. It’s more than “buy when the chart’s red, sell when it’s green”, it’s also about “buy when it’s red, sell when’s green”.
These trading bots can also be used to implement a variety of strategies, both from real traders and automated through robots. Grid Trading is the most popular, followed by Arbitrage trading.
Grid trading is buying and selling at low prices. Arbitrage trading is where you trade with market price differences.
If you find BTC cheaper than Marketplace B then you will buy it there. Then you’ll be able to sell it higher where it’s being traded for a quick, small profit.
Also read: The Safe and Easy Way to Buy Cryptocurrencies
So, let’s get started about Crypto trading bots’
1. Pionex
Pionex, the first cryptocurrency exchange platform to offer free crypto trading robots to its users, is Pionex. There are 16 trading bots available for each account. Users can leverage them all. You only pay for the transactions.
Pionex is located in Singapore. They have been in operation since 2019. FinCen has granted them MSB (Money Service Business License) which is a big green flag.
Pionex is easy to use for both experts and beginners, regardless of their level of experience. Pionex does not offer a demo account to help beginners get used to the platform. What can you expect from a platform that offers their services for free and 16 trading bots?
Fees: Pionex does not charge subscription fees. Instead, they charge transaction fees of 0.05% for each trade. This is a bargain compared to other platforms which charge more.
Pros
- There is no subscription fee
- Trade fees as low as 0.05%
- More than 40 cryptocurrencies are supported.
- It’s simple and straightforward to use.
- AI strategy option will analyze the trading history for the best course.
Cons
- No demo account.
2. TradeSanta
TradeSanta allows users to trade cryptocurrencies without having to be involved. Their services are very affordable, with prices starting at $14-$30 per month. Unfortunately, the free trial is only valid for three days.
TradeSanta offers support for several crypto exchanges such as Binance, HitBTC, Houbi, Coinbase Pro, and OKEx.
Fees: TradeSanta offers three (3) paid tiers. The Basic plan costs $14 per month, while the Advanced plan costs $20 per month and the Maximumplan costs $30 per month.
Pros
- It supports a variety of cryptos.
- It’s simple and straightforward to use.
- Many useful features.
- Affordable subscription fees
Cons
- There is no free account.
3. Cryptohopper
Cryptohopper is an automated, programmable cryptocurrency trading platform. You can set goals for automated trades that you can manage without having to micromanage them. You can, for example, set your trading bot so that it takes profit when your investment growth reaches 1%, 22%, 5% or more. Or close the trade if its market value drops below a certain percentage.
Experiential investors can program their bots with their magic touch. Cryptohopper offers a marketplace where beginners can purchase strategic programs.
Demo testing is also available to allow you to test your program without spending any money.
Cryptohopper currently supports 75 cryptos across nine major cryptocurrency exchanges like Binance, OKEx, Kraken, and Houbi. Bittrex. Cryptopia. Poloniex.
Fees: Cryptohopper is a premium service. They do offer a free 7-day trial. After that, the Explorer plan costs $19 per month. The Adventure plan costs $49/month. There is a $99 monthly charge for the Hero plan.
Pros
- More than 75 cryptocurrencies are supported.
- It’s simple and straightforward to use.
- Many useful features.
Cons
- There is no free account.
4. Shrimpy
Shrimpy goes beyond your typical trading platform. It links all accounts from different exchange platforms so users can manage their portfolios and have easy access when trading.
The platform’s intuitive interface makes it easy for novice users to navigate. It has copy trading capabilities that enable novice users to copy real-time trades from top-performing traders.
You can input your strategy if you are a veteran trader and have the system execute it automatically. This way, you don’t need to be as involved and can do other things.
The platform supports 16 cryptocurrency exchanges including Coinbase, Kucoin Kraken, Kraken, Gemini and Kraken.
Fees: The Starter plan costs $19 per monthly, the Professional plan costs $79 per month, and the Enterprise plan costs $299 per mo. They do not offer a free trial or a free account.
Pros
- It supports a variety of cryptos.
- It’s simple and straightforward to use.
- Many useful features.
Cons
- There is no free account.
- There are no free trials
5. Napbots
The Napoleon Crypto Group trademark is Napbots. They launched it in 2018 and have since developed 20 proven strategies for high-earning traders to capitalize on the volatility of markets.
While they are restricted to cryptocurrency exchanges only, Napbots support all major cryptocurrencies such as Bitcoin, Ethereum, and EOs.
Fees: They charge a monthly fee of EUR19 for the Silver, EUR49 for Gold, and EUR99 for Platinum.
Pros
- It offers great strategies and features that will help you beat the market.
- It supports most liquid currencies such as Bitcoin, Ethereum, Binance Coin and many more.
Cons
- There is no free account.
- Only a handful of exchange platforms are compatible.
- Napbots receives a $2 monthly commission.
- The minimum investment required: $1000
6. 3commas
3commas, like Cryptohopper, is a smart programming platform for trading. It allows traders to set parameters to guide the platform to follow their winning strategies. You can also copy top-performing trades on the platform if you are a novice.
3commas offers its automated trading service on 12 cryptocurrency exchanges, including Binance. Huobi. KuCoin. Bitfinex. Yobit. Bittrex. Bitstamp. Poloniex. Cex. HitBTC. GDAX. OKEx.
The 7-day trial is free and users can try the service. If they wish to use the service again, they will need to purchase the paid plans.
Fees: 3commas is a premium service. As you know, fees are monthly fees. The Starter package costs $29monthly. The Advance package costs $49 per month and $99 per month for the Pro package.
Pros
- It supports a variety of cryptos.
- It’s simple and straightforward to use.
- Many useful features.
Cons
- There is no free account.
Also read: Top 10 Cryptocurrency Research Tools Help for New Investors
7. Coinrule
Coinrule’s developers saw the “unnecessarily complicated” crypto market. Coinrule was founded in 2017 by the developers. Their goal was to create an easy-to-use platform that anyone could use.
You can even get a free plan to allow those with limited budgets or who don’t want the money to be spent to still earn. They also offer three (3) paid tiers with more functions and features than the free plan.
Coinrule supports more than 10 cryptocurrency exchanges including Binance and Kraken, Kraken, Bitmex and Coinbase.
Fees: The Hobbyist plan is $39.99 per month; the Trader plan is $79.99 per month; the Pro plan is $499.99 per month.
Pros
- It supports a variety of cryptos.
- It’s simple and straightforward to use.
- Many useful features.
- Offers a free version
Cons
- No mobile application.
8. Stoic
Stoic, a cryptocurrency platform, also offers automated trading bots that allow for fast transactions without your supervision. The trading bot will automatically make trades for you to profit once you have set goals and parameters.
They also have the ability to link accounts and give users access with just a click. Stoic’s mobile app allows users to manage their accounts.
Stoic works only with Binance, which supports BTC, ETH and BCH as well as LTE.
Fees Stoic does not have subscription fees but they do charge 5% each year from your account.
Pros
- Low fees
- It’s simple and straightforward to use.
Cons
- Only Binance Exchange is supported
- Deposit a minimum amount of $1000
9. BitUniverse
Another platform for cryptocurrency allows users to keep track of their portfolios and market prices. It is laid out in a way that traders can understand. This makes it easier for users to keep track of what’s happening.
BitUmiverse assists its users by performing all the tasks that a trader needs to be able to make better decisions and judgments. You can set it to trade automatically.
It can be used with more than 26 cryptocurrency exchanges such as Binance, Bittrex, Bitfiner, Coinbase, or Coinbase. More than 6000 cryptos are available today.
Fees: They offer two plans. You can access all the tools and features necessary to manage your portfolio and cryptos with Freeplay. The Premium plan, on the other hand, will set you back $20 per month and give you access to all the features and benefits of this platform.
Pros
- It’s simple and straightforward to use.
- Many useful features.
- Affordable subscription fees
- There is a free version.
Cons
- No Paper Trading/Demo feature.
10. One Button Trader
It takes just one button to create a bot that suits your risk appetite and style. So you can relax and let OB trader do the rest.
There are some platforms that make it more difficult than others, as though cryptos were already complicated enough. They designed the software to be simple and provide all the necessary information to make successful trades.
Currently, OB trader supports Binance and Bitvavo as well as Binance US, Binance US and Bitpanda. Many more will be added in the future.
Fees: OB trader offers a Freeplan. Premium plans have more features and benefits. Start at $29.99 per month for the Traveler plan; $125.99 per month for the Venturer plan; and $549.99 for the Voyager plan.
Pros
- It is very easy to use.
- Secure and safe
- Affordable Subscription Fees
Cons
- Limited exchange platforms
- Only works in intervals of 1/4 hour.
Conclusion
Only a few Crypto trading bots have been tested and proven to be effective against bull and bear markets. I recommend you cross-reference what you read with other sources – this is the correct way to DYOR, especially as it involves a lot of money.
Please note that this blog post is not intended to be financial advice. Its purpose is educational and will give you an overview of the top crypto trading bots you have to choose from to help you learn how to trade smarter.
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