|1. Cryptohopper||2. 3 Commas||3. Zignaly|
Cryptocurrency trading bots are computer programs that automatically buy and sell various cryptocurrencies at the correct time with the goal of generating a profit. Their decision making is dependent on the price movements in the market – they typically analyse market actions like price, volume, time, and orders. This article consists of the best crypto trading bots of the world.
Best Trading Bots: factors to Look for
1. Reliability / Effectiveness
This is one of the most crucial factors in choosing a trading bot and is, therefore, at the very top of the list because, as with every online business, a key elements of a business is trust. The trading bot should be of a company that can be trusted.
Please check the reliability of the bot before setting it up. Some bots may have an ‘eye-candy’ like interface but they fall short when it comes to real functions. Go for a bot that has a long list of assorted clients who testify of its reliability and level of service.
But the question arises – ‘How do you check the reliability without using the bot?’
This is where articles like ours can help, we have researched and listed the best trading bots considering all these factors.
Bitcoin is a secure cryptocurrency. But this does not stop people from trying to perform tech-powered steals. As such, you need to review the security of the trading bot before using it. Remember, it is almost impossible to retrieve lost cryptocurrency funds.
Check the security layers used by the crypto bots. If you feel that there aren’t enough security measures, it is better to stay away from such trading bots.
In addition to security and reliability, you should also be keen on the profitability of the company. It is pointless for a company to be trustworthy and does not provide you with the maximum possible returns.
You should, therefore, do your research on a bot’s profitability before you invest your time and money on it. This information is not easy to find as all the best bitcoin trading bots claim to be popular. Hence, it is important that you research on platforms like Reddit and other crypto-related communities.
4. Comfort/Ease of use
A person who is new to the subject of crypto trading should find it easy to use. One of the primary reasons for the growth of crypto users is the increasing exposure to crypto trading tools. You will be shown a ton of features by most crypto trading software.
Do note that not all features would be used, which is why it is critical you look for the features you want. The number of features shouldn’t influence your decision in choosing the best trading bot.
Cryptocurrency rose to popularity because of the transparency factor. It would be unfortunate if you were to get involved with a company that is questionable. Before investing your hard-earned money in the trading of Bitcoins, your main objective should be to gain the maximum possible return.
When choosing trading bots, ensure that they are transparent. Research about the team behind the trading bot. Also check if they blog frequent and have robust customer support.
Advantages of Crypto trading bots
Here are the various advantages of Crypto trading bots.
Trading bots can analyse market conditions in multiple cryptocurrencies, simultaneously, and execute trades whenever there is room for making a profit. All this happens at a must faster and efficient rate than human beings.
Ask any experienced crypto trader or miner, and they will tell you that trading in cryptocurrency is time-consuming, fatiguing and that it requires plenty of experience, knowledge, and fast thinking to make all of the right calculations and trade at the right time. With a crypto trading bot, you can limit the time you spend in front of your computer and let it do all of the hard work for you. The ability to multitask makes bots more efficient than humans.
2. Increased Speed
We often take plenty of time to execute trades. Unfortunately, in the unstable cryptocurrency market, such delay can be costly, as a profitable trade may lose its value if the trade is not executed in that specific time frame.
Trading bots execute trades within seconds based on the set limits. Hence, increasing the speed and scope for higher profitability.
3. Running Period
One cannot always stay in front of your computer and monitor all investments. You need sleep and have other commitments that demand your attention. But while you sleep, the cryptocurrency market advances.
You need to sleep; you need to take care of other work — you have a life outside of the crypto game. Unfortunately, this can sometimes seem like wishful thinking, especially if you’re a beginner who is yet to learn the ropes of the crypto trading industry.
With a crypto trading bot, though, you can automate the trading process to run in the background all the time without taking a break, which will allow you to stay on top of the industry trends and make all the right trades at the correct time.
Disadvantages of Crypto Trading bots
The disadvantages of Crypto trading bots are listed below.
1. Not suitable for inexperienced traders or beginners
Cryptocurrency bots can accelerate your trading. But this requires you have basic knowledge about what is happening. While some bots come with good preloaded trading configurations, they often don’t yield maximum returns.
2. Requires monitoring
Crypto trading bots are not very effective during high fluctuations. This is because they are emotionless and not attached to the money, and so can trade successive losses, which can lead to a massive overall loss.
Some things cannot be taught. It is only a human who can make adjustments if needed. It is, therefore, important to have a professional ready to deal with issues that the bot may misunderstand.
3. Security Concerns
The centralized nature of exchange and trading bots has certain risks though. Whereas hackers avoid blockchain systems thanks to their almost impenetrable security, they target systems with central servers (like bots and exchanges). Machines that work independently like bots are especially easier to hack.
Top 13 Best Crypto Trading Bots 2020
Cryptohopper, founded by Ruud Feltkamp in September 2017, is one of the most powerful crypto trading bots in the market. This bot has been specially designed to accommodate not only the technical indicators chosen by the traders but also the signalers offered by the company itself.
The working of the Cryptohopper trading bot is based on two basic principles – algorithmic trading and social trading. These two methods allow the traders to analyze the trades and make their strategies accordingly. This trading bot has the ability to perform simultaneous trades on multiple coins, unlike the human traders. It can trade throughout the day and night on the basis of the algorithms and the strategies set up by you. There is no need to worry about illogical or bad trades, as this is one of the most efficient trading platforms in the world.
Cryptohopper allows the traders to create their own strategies and to customize them with the help of technical indicators. You can also share your personal strategies with other traders on the platform. In Cryptohopper, you can directly connect with the experts, who will provide you with predictions, analysis, and signals on the basis of which you can trade. Since this is an automatic trading bot, it will follow the signal even if you are offline. It supports multiple trading exchanges such as Kraken, Poloniex, Bittrex, Cryptopia, Bitfinex, etc.
There is a feature available in Cryptohopper known as the trailing stops feature, which is used to set the limits of the sale. It has also the provisions for backtesting. You can also create templates to recognize different market conditions and use various strategies according to market conditions.
This is a cloud-based platform, which means you can operate it from any device at any place and at any time of your choice. It is a beginner-friendly platform with high safety and security features. However, there are a few demerits of Cryptohopper. No information is mentioned about the creators of the platform. There are very few genuine reviews about this bot. Most of the reviews are written to promote this bot. The ones which are written by true users are negative reviews.
You can get a free trial of this bot for one month. The packages start from $19 and extend up to $99. The price of the intermediate package is $49.
Founded in 2014 by Yuriy Sorokin, 3Commas has become one of the most popular crypto trading bots within a very short span of time. It is known for its large number of impressive features. It comprises of an extremely easy to use interface and is suitable for both beginners and experts.
3Commas has the provision of performing trades on several cryptocurrency exchange services through a single interface. It supports around 12 exchanges like Bitfinex, Huobi, Binance, etc. It uses a Stop Loss feature to avoid large losses. This stop less feature will automatically sell your assets if the loss percentage reaches a minimum value. Another feature, Trailing Stop Loss will prevent you from major losses without affecting your daily profits.
There is another feature known as Taking Profit, which will sell your assets automatically when you have gained the desired profit. It is a customizable platform, which uses short, composite, and simple bots to customize the strategies according to the trader’s choice. You will receive real-time notifications on your desktop, mobile, or email. You can also change the settings to select the type of notifications you want to receive.
If you want, you can add notes, comments, etc. to your trade orders. This will help you to keep track of all your transactions and will prevent you from making similar mistakes in the future. It also provides a feature by which one can maintain a report of all the transactions made by a particular trader over a certain period. It allows you to follow and copy the portfolio of a successful investor. 3Commas has a strong team of customer support, who will provide you with the help and assistance 24*7.
There are four plans available on 3Commas trading platform. They are starter pack, advanced pack, pro pack and enterprise pack. The price of the starter pack is $25 per month, the advanced pack is $42 per month, and the pro pack is $84 per month.
Zignaly was developed by David Coronado and Bartolome Bordallo in 2018. It offers a thirty days free trial to the traders to check whether this trading platform is suitable for them or not. This bot has been launched recently, and it is now in the initial stage of its testing.
The main advantage of Zignaly is that it comprises of a Cloud-based interface. Therefore, you should not worry about losing your data. You can access it from any device at any time and from any place of your choice. The software can also be easily updated. Zignaly offers crypto signals to the traders that automatically analyze the market conditions on behalf of the traders.
There is a TradingView feature in Zignaly that will help you to send your own trading signals by applying automatic indicators. It is one of the simplest yet one of the most efficient trading bots in the market. However, it has been recently launched so it is not much popular among the traders. The online community is still not properly formed. It does not offer the feature of backtesting, therefore, it is not ideal for beginners. The beta plan is available at a price of $15.99 per month.
Gunbot, developed by Gunther De Niro, works on the basis of the computer algorithm. It can work on multiple exchanges. Some of them are Cryptopia, Poloniex, Kraken, Bianance, Bittrex, Huobi, Ku Coin, Coinbase Pro, etc. It has an easy to use interface. It offers precoded strategies to the traders, which help beginners immensely. You can also change the strategies according to your choice or trading style. You can even combine the strategies as per your choice.
It offers options that are highly customizable by the traders. You can choose any trading pair of your choice. It never makes any bad or illogical trades on your behalf. It is well known for its consistency and efficiency. It buys at lower prices and sells them when the price rises. The trades are done on the basis of effective algorithms and charts. It also provides liberty to the users to set parameters according to their trading styles. You have the freedom to try different strategies and can combine them if necessary.
However, Gunbot is largely dependent on the price of cryptocurrencies. Since the price varies most of the time, you can get profit through Gunbot only when the price is stable. Another problem with Gunbot is that the number of trades done is low as compared to other bots, therefore, profits earned are also less.
It offers six plans to the traders. The six plans are Gunbot Standard, Gunbot Pro, Gunbot Ultimate, Premium Support, Gunbot Starter, and Gunbot Settings Pack. The prices are 0,050 BTC, 0,075 BTC, 0,125 BTC, 0,025 BTC, 0,020 BTC and 0,035 BTC respectively.
Gekko is a free crypto trading bot. This is an open-source platform, code of which is written in node.js. The code is also available at Github and is customizable according to the choice of the traders. To use this bot, you need to have some knowledge about the technical analysis of cryptocurrency markets.
Though it is a free bitcoin trading bot, it offers a variety of features to the traders. Firstly, it offers the backtesting feature, which is immensely helpful for the beginners. You can check whether your strategies are suitable for earning profits or not. This feature can be used to create ideal trading strategies. It also provides the option of checking your strategies against the live market data by using fake money and placing phantom trades.
It also allows the traders to install various plugins such as Telegram plugin, etc. to make your trading experience better. You can also have a look at your trades through graphical representations and charts. This will help you to change your strategy according to your past results. It features more than 130 indicators to improve its functionality.
Another important feature of Gekko is that it supports around 16 exchanges like Poloniex, Bitstamp, Bitfinex, etc. It can also be used on different operating systems like Windows, Linux, Mac, etc. The security policies of Gekko are also impressive. Your strategies and portfolio will never be shared with anyone.
Zenbot is an open-source crypto trading platform, which was developed by David Vasquez in 2016. It is an online natural language user-driven interface, which is also popular as a chatbot host. The code of Zenbot can be run on node.js and MongoDB. The code can be modified according to the user’s choice. Zenbot is also a free trading bot.
Besides acting as an intent resolver and graphical bot builder, Zenbot can also be used to develop the most complicated bots. Since Zenbot is a natural language engine, it is well versed in semantics, context, grammar, etc. Zenbot can be used to create conversational bots. Zenbot is an open-source platform, therefore, it does not require any server or database to host or interact with other bots.
Zenbot also comprises of a number of buttons, which are necessary to maintain the functionality and integrity of the platform. It supports a wide number of cryptocurrency exchanges such as GDAX, Poloniex, Kraken, Bittrex, Gemini, etc. It has one of the most flexible syntax patterns as a result of which it supports numerous languages.
While most of the bots use machine learning mechanism, Zenbot uses pattern matching mechanism, which is more efficient and effective. Zenbot uses XML file format instead of Net interface for dialog structure building. The XML file format is easier to use than the Net interface. Zenbot performs trades at a very high frequency thus, it allows the traders to earn huge profit.
However, Zenbot has certain disadvantages also. The number of updates received by Zenbot is very less. Moreover, Zenbot uses a command-line interface, which may be a bit difficult for inexperienced traders to use. It has been observed that in Zenbot, there is a large gap between the results of live trade and paper trade. This has created a sense of unreliability among the traders.
Developed by Stephen De Haas in 2014, Haasbot is a popular online trading platform under the website HaasOnline. Haasbot can be used for trading of various digital assets such as bitcoins, altcoins, ethereum, etc. It has a strong online community of traders and all the new features are continuously added to the platform. Haasbot 4.0 version will be released soon.
The minimum requirements for running this bot are 4 cores and 2GB memory and 5 Mbps download speed. The traders have the liberty to choose the bots according to their wish. There are more than 15 different bots available on the platform. Haasbot has set up certain rules and regulations for the bots to follow while trading such as to overcome fees, never buy higher, etc. These rules ensure that one can gain maximum profits and minimum losses. It also provides a sense of security to users.
Haasbot offers numerous technical indicators to the traders, which make trades and analyse the markets on behalf of the users. The set of technical indicators varies according to the plans purchased by the traders. You can also check your strategies by backtesting. Backtesting allows you to check whether your strategies are profitable or not in the real markets. You can improve your strategies by backtesting. Haasbot has one of the best notification services to keep the users aware of the ongoing trades and results of the past trades.
It comprises of a user-friendly web interface. Moreover, it boasts of a strong and loyal client base. The users are constantly updated through support forums, telegrams, Wiki, etc. It supports more than 20 exchanges and allows the traders to have complete authority over the bots. You can purchase a pack for either 3, 6 or 12 months as per your requirements.
However, Haasbot cannot be considered to be ideal for beginners. Customer care is provided only in a few languages, thus, it may cause some problems for the traders. This bot can not be operated properly in mobiles, which also causes some problems. Another problem is that there is no trial plan available on the platform, which means you have to buy some plan to start with this bot. The platform is also not cloud-based.
Cryptotrader is a cloud-based online trading platform that trades on the basis of algorithms. It is used for trading of digital assets such as Bitcoins, Ethereum, Litecoin, etc. Since it is a cloud-based platform, there are no software and hardware requirements. You can use it from any device of your choice.
It supports multiple exchanges like Poloniex, Kraken, Bittrex, BitStamp, Bitfinex, Coinbase, KCoin, Binance, Huboi, etc. These are the most popular trading exchanges in the market. Like most of the bots, Cryptotrader also provides the feature of backtesting. You can check your strategies before investing in the real market. This is an important feature to check new strategies.
Another important feature is that you will continuously be updated with all the changes taking place in the market. The changes in the price will be shown on your screen. Cryptotrader is well-known for its seamless trades and no delay in updating the price changes taking place in the market. Crytotrader can be considered as an ideal place for beginners as it comprises of an entire marketplace where you can buy and sell strategies. You can make your own strategies and can sell them also if you want to earn some extra money along with the profits. Cryptotrader has the provision of reminding you of various changes in the market through SMS and emails. Therefore, even if you are not online, you will receive the notifications.
Cryptotrader has an online community of more than 8 million traders. You can get help from the experienced traders present on the platform and can also buy their strategies. This is an automated trading platform, therefore, the only thing you have to do is to set up a trading strategy and the rest will be done by the bots automatically. The profits will also be transferred to your account automatically. Cryptotrader allows traders to trade multiple coins. However, one should have some basic knowledge of programming to operate this trading bot.
The price of the Basic+ plan is 0.0048 BTC per month, Regular plan is 0.0067 BTC per month, Pro plan is 0.0124 BTC per month, VIP plan is 0.0236 per month, and a premium plan is 0.588 BTC per month.
9. BTC Robot
BTC Robot is another automated cryptocurrency trading bot, which is used for the analysis of trading markets and performing trade 24 hours a day. You are required to create a broker account with Metratrader4 to operate BTC Robot. BTC Robot is used to analyze the trading market, to calculate the depth of the market, to buy or sell the assets at the correct time, to maximize the profit and to minimize the loss, etc.
The process of installing the bot is very simple. There are only a few steps required to install the bot. The minimum amount required to start trading through BTC Robot is very less as compared to other trading bots. It uses a specially designed stealth technology for effective trading. The platform can be considered as safe and secured. It does not log in to your bank account. Only the broker account is necessary for bitcoin trading. No transaction fees are involved in the process of trading, thus, making it simpler for the traders. Most of the trading bots take 25-30% of the profit as a commission but RTC Robot does not charge any commission so the entire profit is transferred to your account.
BTC Robot is not entirely dependent upon the trading market. Therefore, it can help you to make more profit as compared to other trading platforms. It offers a 60-day money back guarantee to the users, which means you can check this platform without any hesitation. However, there are some complaints against the customer care services provided by the bot.
BTC Robot offers three plans to the users. They are Silver plan, Gold Plan, and Platinum Plan. The prices are $19.99, $39.99 and $399 per month respectively.
10. Margin.de (Leonardo)
Margin.de, previously known as Leonardo is one of the best trading bots in the market. It supports a wide number of languages such as English, Portuguese, German, Chinese, Spanish, etc.
Margin.de offers a drag and drop feature, which helps in visual trading. The charts present on the platform will allow users to view more than 25 markets at the same time. In Margin.de, you can get access to all the bot available on the platform. Since it is not possible for you to remain active throughout the day, the bots will help to do the trading for you. There are different technical indicators available on the platform that will help you to analyse the market and to do the trades at the right times. Some of the popular technical indicators are MACD, RSI, Bollinger Bands, EMA, VWAP, etc.
Another important feature of Margin.de is that it provides the option for customization of the platform as per your choice. You can alter the position of different sections present in the platform as per your requirements. Margin.de has a strict security policy. The funds are not stored on the servers. It can directly be accessed through the platform.
Margin.de offers three packages to the users. The price of the starter pack is $89, the standard pack is $169 and that of the professional pack is $1999. You have to pay only once in your lifetime.
It uses various technical indicators to make the trading experience of the traders smoother and better. Some of the indicators are Ultimate Oscillator, Relative Strength Index, EMA Crossovers, Bollinger Bands, etc. To operate Autonio, you do not require any knowledge about programming or coding. It has one of the simplest GUIs in the market. It combines several indicators into one buy/offer flag to perform trades at a higher frequency. You can also backtest your trading strategies before applying them in reality.
Autonio provides an option for traders to buy or sell strategies. It supports multiple exchanges such as Bitfinex, Bittrex, Kraken, Quadriga CX, Bitstamp, etc. You can use Autonio from mobile as well as computer. It supported by Windows, Linux and IOS. To use Autonio, you have to pay a monthly membership fee of $50.
Coinbot is one of the simplest bots available in the market that uses various technical indicators and strategic indicators to trade. It is ideal for beginners or novices in this field. However, nothing is mentioned about the developers on the official website of the platform. This creates a sense of insecurity, unreliability and implausibility among the users.
Coinbot comprises of an open-source code, which is available on the official website of the bot. It provides a number of features to the users such as the multi-tier commission program, which has helped it to become one of the most well-known rental services in the world. It offers a referral program, which can be used by traders to earn some extra money by sharing the link of this bot. You can receive a commission of up to 50%.
Since it is a cloud-based platform, there is no need to install the program on any device. You can get access to it from any device of your choice. The only thing you need is a stable internet connection. There are numerous bots available in the platform, which are classified into three classes based on the type of trading strategies – aggressive, balanced and conservative.
One can also purchase additional features by paying some extra amount of money. Some of the additional features are Social Analyzer, Arbitration bot, Telegram Assistant, etc. You will receive an automatic notification from the bot if your losses reach 10%. This helps you to remain updated and cancel your trades if necessary.
13. Crypto World Evolution
CWE stands for Crypto World Evolution. It has one of the easiest interfaces to use. It functions on the basis of the multi-hybrid trading algorithm. The algorithm uses APIs and allows the users to gain profits through microtransactions, done on behalf of the traders. This is said to be one of the most authentic and trustworthy trading platforms as the bots are restricted from viewing your account details. They are also not authorized to withdraw funds from your account on your behalf.
CWE offers you to set a tolerance level as per the number of risks you want to take. The amount of profit gained or loss suffered will depend upon the tolerance level set up by you. You can also generate profits by promoting bot. As soon as a person will start using the bot on your recommendation, you will receive a commission from the company.
As mentioned earlier, the interface is one of the simplest and easy to use. It is well-optimized to perform trades on different exchanges through different devices. All the information are presented on your screen. In CWE, you can do live tracking of your trades. You will be provided with all the live updates and your portfolio will not be affected by the lag in the prices of the live market. The platform comprises of market experts, who will continuously guide you throughout your trading venture. The advice given by them is completely based on a detailed analysis of the market.
The most unique feature of CWE is that it has certain educational tools that will help the users to gain soon knowledge about the real trading markets and how to gain profits in these markets. This feature is missing in most of the trading platforms. There is a 24*7 customer support available to the traders. You can clear your queries from them at any time of the day. The team comprises of experienced and well-trained support staff.
There are four packages available on the platform. The price of the packages ranges between $250 to $2000. However, the basic package is just an educational guide to the user. It is suggested to purchase the intermediate pack, which will cost you $500.
Cryptocurrencies are known for being incredibly unstable, with prices fluctuating dramatically even in the space of minutes. Investors have the opportunity to take part in cryptocurrency trading all around the world and at any given hour of the day. Amalgamated all these factors limit the effectiveness of human cryptocurrency trading in several ways.
First, investors in many cases are unable to react quickly enough to the changes in price in order to achieve the ideal trades that are available to them. Slowdowns in exchanges and transaction times further aggravate this problem. Secondly, investors can simply not dedicate as much time to the cryptocurrency markets as necessary in order to always achieve the best trades. Doing so would require 24/7 monitoring of cryptocurrency exchanges all over the globe.
Fortunately for many investors, there are solutions to these issues. One of the principal solutions is bots, or systematized tools that conduct trades and execute transactions on behalf of the human investors. Have a lot at this detailed guide to know about the best cryptocurrency trading bots in the market.