Cryptocurrency is a rapidly changing market – so information about trading bots changes frequently. Prices change, features are added, and ratings sway. There are three main changes that we’ve made to this version of our article:
Some bots have been updated and now have new features and pricing models. Look for more details in the “What’s New” section for each bot review.
There are two new bots added to our list – BitUniverse and Pionex. These two platforms have recently joined efforts to create the best experience possible for their users.
Several types of bots and its strategies were desribed in this guide. The detailed description will be available soon, so keep tuned!
We have answered some popular questions in FAQ.
Trading cryptocurrencies isn’t easy. This is because unlike stock markets, cryptocurrency markets don’t close, and this presents a very stressful scenario for both casual investors and seasoned traders in the industry.
The cryptocurrency market is also very volatile. If you’re a crypto investor, you’re probably familiar with the (sinking or pleasant) feeling of waking up to massive losses or large gains in your portfolio.
To retain control of trading even in your sleep and to counter the volatility of the cryptocurrency market, traders are increasingly relying on trading bots.
Cryptocurrency trading bots are software programs that can help you automate your trading strategy and take full advantage of the crypto exchange market. These bots can carry out trading actions even while you are sleeping! Because of the added possibilities that crypto trading bots bring, more and more cryptocurrency traders are turning to these bots.
There are a wide number of crypto trading bots available to use – it can be tough for beginners to find the best place to start. This comprehensive guide will go over different kinds of crypto trading bots. By the end of it, you’ll know which bots are best, and use this information to choose one that best meets your needs.
Why are crypto trading bots useful?
Crypto trading bots remove fear and emotions from the trading equation by allowing investors to execute trades based on a predesigned strategy.
The bots also enable you to run your trading plan 24/7. If you’re a part-time cryptocurrency trader or if you’re unable to stay on top of the market at all times, the bots allow you to trade efficiently without you having to dedicate huge amounts of time to market analysis.
How to choose the best trading bot?
You can easily miss out on golden trading opportunities if your bot goes offline for some time. Reliability is, therefore, a key when acquiring a crypto trading bot.
But how can you be sure about a particular bot’s reliability? To be certain about a bot’s reliability, you need to review its users’ sentiments. Go for a bot that has a long trail of contented clients who testify of its reliability and level of service.
Your trading bot has access to your currency. This can be risky, especially if you’re using a sketchy bot. Whereas there is no sure way of telling how secure a given trading bot is, you can limit your risks by opting for a bot that’s widely acknowledged for its security.
Using a trading bot is pointless if it doesn’t deliver the greatest possible returns. You should, therefore, do your homework on a bot’s profitability before you invest your time and money on it.
Transparency is what makes cryptocurrencies stand out from traditional currencies – their whole network is totally transparent which leaves no room for foul play. The best trading bots uphold similar standards.
Go for bots built by reputable developers. Transparency not only helps you settle for a trustworthy bot, but it also enables you to get help whenever you have issues that need to be fixed.
Ease of use
The primary purpose of crypto trading bots is to make cryptocurrency trading easy for everyone. So you should go for bots with an intuitive interface. You should be able to control your bot with only a few clicks.
Pros and cons of using trading bots
Trading bots can analyze market conditions in multiple cryptocurrencies, simultaneously, and execute trades whenever there is room for making a profit.
Humans, on the other hand, are not good at this kind of multitasking. You can only analyze cryptocurrencies market conditions by going through them one at a time. And as you switch from one cryptocurrency to the other, you can miss on many profitable trades. This ability to multitask makes bots more efficient than humans.
Cryptocurrency markets are highly volatile. Also, the big players often manipulate the currencies. The emotional tumult that follows these huge price fluctuations can make you erratic which then can lead to you making regrettable orders.
Conversely, trading bots are different. They don’t have human emotions, and they are not attached to money. Markets manipulations and huge price fluctuations, therefore, don’t affect their functioning.
We often take a long time to execute trades. Unfortunately, in the volatile cryptocurrency market, such delays can be costly as a good trade may lose its value if you take too long in executing it.
Trading bots, on the other hand, place orders instantaneously. This increased speed makes them much more effective than humans.
You cannot always stay in front of your computer and monitor your investments. You need sleep and other obligations that demand your attention always pop up. But while you sleep, the cryptocurrency market marches on
The opportunity cost of not being on top of the market 24/7 is that you miss many opportunities to make more profit. Unlike humans though, a trading bot can run 24/7 and thus never misses opportunities.
Not suitable for inexperienced traders
Cryptocurrency bots can bolster your trading. But this requires that you have some knowledge of what’s happening behind the scenes. While some bots come with great preset trading configurations, they often don’t yield maximum returns.
Changing the settings of a bot’s configuration without knowledge of the technical aspects of trading can lead to massive losses. Bots are therefore not very useful to inexperienced traders.
Crypto trading bots are not very effective during high volatility periods. 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.
Present security concerns
Crypto bots execute trades through integration with application programming interfaces (APIs). This means the two machines work together without manual intervantion.
The centralized nature of exchanges and trading bots poses some 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.
Here is what you need to do to protect yourself from hacks:
Keep you API keys secret
Switch off automated withdrawals
Do your home work – bots are complex tools, you need to read about protection measures, preferences, and trading strategies.
Automated Crypto Trading Bots Worth Your Attention
Many traders are facing the difficult task of choosing software for analyzing the cryptocurrency market data. The number of options is growing, so we wanted to simplify this task for you. Below is the continuation of our list of trading bots along with the breakdown of their main features, pricing, pros, and cons.
Top 17 Best Trading Bots
3commas is one of the most popular web-based crypto trading bot. As of now, there are currently 220,000 registered users and 26 supported exchanges. The platform’s main priority is user satisfaction, which is why the developers continue to add new innovative features to the bot.
3commas users are able to track multiple orders on various exchanges and develop informed trading strategies.
Recently, 3commas has collaborated with Binance. This partnership ensures convenient trading conditions through Binance’s distinguished asset management and security infrastructure. Under the broker program, you can create a free Binance account and utilize tools from the 3commas platform.
3Commas now has a Trading Academy – this excellent compilation of resources gives users the tools they need for success. When you purchase the 3Commas Pro version, you will also receive access to a free trading course.
Since our last update about top crypto bots, 3Commas has reduced the price of all of its subscription levels.
Automatic trading bots for 12 exchanges
ETF-like crypto portfolios
Functionality – 3Commas comes with an intuitive user interface that is packed with detailed analytics and numerous functions. The bot allows you to set up take profits and stop loss targets as well as craft your own trading strategies.
A wide range of tools – In addition to using 3comma’s performance analytics and automated bots, you can also create, analyze and back-test portfolios as well as monitor other user’s best performing portfolios. The bot also allows you to follow and copy successful trader’s strategies.
Simultaneous take profit and stop loss orders: 3 commas enables you to make maximum profit by allowing you to simultaneously establish the price point atwhich you wish to sell to make a profit and the price point at which you wish to sell in order to stop losses. You can do all these within 3 comma’s SmartTrade terminal.
Mobile Apps: The 3commas team has developed mobile apps for both iOS Android.
Advance Order Types: 3commas enables you to set up advanced order types like trailing take-profit and stop-loss orders and contemporary take-profit and stop-loss orders. 3commas also allows you to set up advanced orders even in exchanges that currently don’t support them. If you’re frustrated by the absence of advanced orders on some exchanges, you can easily create advanced orders by linking your account to 3commas.
Trader’s Diary: Do you want to organize all your trades in one place? Some traders use dedicated accounting software or Excel sheets for this. Conversely, 3commas has created a trader’s diary which gathers all your trades across exchanges and organizes them in one convenient location.
The Starter Package ($174 per year, or $14.50 per Month with annual payment; $26.10 for monthly payment)
Access to Smart Trading terminal (Spot, Margin and Futures – new)
Concurrent Take Profit and Stop Loss
Access to all available exchanges
Notification for cancellations and errors
The Advanced package ($294 per year, or $24.50 per Month with annual payment; $44.10 for monthly payment)
All Starter Packageplus:
TradingView Custom Signals
Single pair DCA bot (new)
Short and Long algorithms
View and copy bots
The Pro Package ($594 per year, or $49.50 per Month with annual payment; $89.10 for monthly payment)
All Advanced Packageplus:
Margin trading bots
Futures and Margin trading bots (new)
Bitmex, Binance Futures, ByBit bot
FTX futures bot (new)
Multi pair DCA bot (new)
Options Bot (new)
Futures and Margin trading bots (new)
All plans include
a free Binance trader subscription
26 supported exchanges
Multi-level referral program
All of your crypto accounts in a single portfolio
Free mobile apps
3commas supports 26 exchanges including:
Coinbase Pro (GDAX)
Pros and cons
Intuitive and clean interface
Smart Trading feature
Supports many exchanges
Offers sufficient educational tools
Offers affiliate program
Not very useful to inexperienced traders
Note: 3 commas offers free 3 days FULL access and ability to use it for free
Gunbot (also known as Gunthy) boasts of over 6000 active traders. It’s compatible with MAC, Linus, and the Windows platforms and so running it on your computer shouldn’t be an issue.
Gunbot places a huge priority on your privacy – it isn’t a cloud service. Instead, you install software, which collects no data about your usage. Gunbot is currently supported on Windows, Mac, Linux, and ARM.
The software’s latest version does not demand high resources – you can run it on an old laptop or even on a Raspberry Pi. Payments are accepted through Bitcoin, Litecoin, Ethereum, and Dash. Gunbot works on 100+ supported exchanges.
Gunbot’s most recent update added several new features, such as support for Kraken forex trading pairs, a new trading strategy (grid trading for margin/futures exchanges), and full Binance futures support. What’s more, all 100+ of the CCXT’s spot trading exchanges are now supported.
The prices have not changed since our last review.
Inbuilt Trading Strategies
15 Buy and Sell Methods
Dollar Cost Averaging
Inbuilt trading strategies: Gunbot comes with numerous inbuilt trading strategies that include Step Gain, Gain, Ping Pong, and Bollinger Bands. Many users report that BB is the most profitable strategy.
Customizable: You can customize the strategies and align them to your trading style.
Lite version: This bot has a Lite version that offers limited features that you can use it to experiment with smaller amounts.
This crypto trading bot is compatible with the following major exchanges:
and more exchanges from CCXT library
Gunbot offers four price packages depending on the features you want on the bot. The service is currently offering a 50% discount:
Supports a good number of the large crypto exchanges
There has been of occasional bug reports
Cryptohopper is a cloud-based crypto trading bot that works with a wide range of exchanges and coins. Being on the cloud enables easy setup and 24/7 trading.
Crypto Hopper offers speedy automated trading and portfolio management for over 100 cryptocurrencies. The cloud-based bot currently has over 200,000 users.
Cryptohopper recently released its “Cryptohopper+” program, which lets users gain experience points. The more points that are gathered, the more benefits users can earn. For instance, they can get discounts, become a marketplace seller, and earn cashback credits.
Cryptohopper’s pricing model has not changed since our last review.
Easy set up: The bot comes with an intuitive dashboard that only takes about 5 minutes to set up.
External signalers: It’s also one of the few bots embedded with external signalers which allows you to subscribe to professional analysts around the globe – the bot receives the signals directly and uses them in their trades.
Currently, the bot can integrate with most major exchanges that include:
Cryptohopper offers three pricing packages with prices ranging from $19 per month to $99 per month.
Explorer Hopper starter – $19/month, or $198,96 per year
Maximum 2 triggers
15 selected coin maximum
Adventure hopper medium – $49/month, or $498,96 per year
TradeSanta is a new cloud-based tool but with an already established reputation. Along with supporting basic order types, automated bot can execute more advanced strategies. However, some functionality may take a lot of time to get accustomed to.
TradeSanta might not have as many features as other entries on this list – however, you can do quite a bit for free, and its services are high-quality. There are 7 exchanges currently supported on TradeSanta, with BitMEX coming soon.
TradeSanta’s pricing for a Basic account has increased since the time of our last review. However, they have lowered the price for their Advanced and Maximum accounts, but removed HitBTC promo package.
TradeSanta has also made some Quality of Life improvements, including stability improvements and increased site speed. The bot is now available in Russian.
And we have moved the bot to the 4th place.
Long and Short Strategies
Automated options on TradeSanta include:
Long bot template – when you expect the asset value to rise.
Short bot template – when the price is projected to fall.
Custom template – you have the freedom to maximize the bot’s abilities with custom tools.
Additionally, TradeSanta offers technical indicators (including Trade filter, Volume filter, and Bollinger signal), an extra orders feature, buying coins for a commission, etc. You can also set the bot to enter trades at the market prices, buy more of the asset as the market goes against a position and much more.
TradeSanta offers four tiers of pricing:
Minimum for free – Aside from providing only two bots, other features are included in the plan
Basic for $14/month (when purchased annually) – Gives you access to 49 bots. Before purchasing, you can sign up for a three day trial
Advanced for $20/month (when purchased annually) – Gives you access to 99 bots
Maximum for $30/month (when purchased annually) – Unlimited functionality, including all bots.
The bot connects to several of the biggest crypto exchanges, including HitBTC, Binance, Bitfinex, Bittrex, Huobi, etc. It doesn’t have the most extensive range, but users are promised that more will be added in the future.
BitUniverse and Pionex have partnered up to provide the “ultimate trading experience” to its users. Because of this collaboration, Pionex users can use BitUniverse’s Trailing Take Profit Bot and Grid Trading Bot. BitUniverse users can log into their account on the Pionex platform.
We did not include BitUniverse or Pionex in our previous list of the best crypto bots. However, due to their collaboration and increased benefits, we now believe that they deserve a 5th spot.
22+ supported exchanges
Realtime coin tickers
Backtesting scanner & volatility factor
Auto portfolio tracker
Leveraged Reverse Grid
Trailing Take Profit
Liquidity Aggregated Engine
We couldn’t find a subscription price scheme on the BitUniverse or the Pionex website. There is a 0.05% commission fee associated with Pionex and a 0.08% one with BitUniverse.
Gekko is an open source cryptocurrency trading bot that you can download on GitHub platform. The bot is compatible with the major operating systems (Linux, Windows, and macOS). It also runs on raspberry PI and cloud without any issues.
Web interface: The bot comes equipped with a web interface that allows you to monitor data and trading strategies.
Back-test feature: Gekko allows you to back-test data and see projections of your trade results.
Notification feature: It also keeps you updated through social media platforms, email, and telegram.
Gekko supports numerous Bitcoin exchanges that include:
The bot is not for high-frequency trading though, and it doesn’t allow you to tap into arbitrage opportunities.
Pros and cons
Not effective in high-frequency trading
Can’t exploit arbitrage opportunities
Zenbot is yet another open source bitcoin trading bot. You can modify it to suit your trading preferences, and you can use it on all major operating systems.
Artificial Intelligence: The bot is lightweight and it’s powered by artificial intelligence.
High-frequency trading & numerous assets: It’s also one of the few trading solutions capable of supporting numerous assets and at the same time handling high-frequency trading.
Zenbot is supported by the main Bitcoin exchanges like
Autoview is a low-cost crypto trading bot that comes in the form of a Google Chrome extension. It’s not a beginner-level bot though, because you need to manually code stop-loss into its script.
Free scripts: If you aren’t a good programmer, there are many free Autoview scripts available that you can use. For instance, you can use MACD indicator to get alerts of bearish MACD and bullish crossovers.
Autoview offers a free version that works with
Kraken and ten other exchanges
It offers a free version and a paid version that costs $269.99 per year or $24.00 per month
Pros and cons
Easy to set
Supports lots of exchanges
Low monthly charges
You can’t track trades without checking the exchange
Requires operation in windows VPS or browser
CryptoTrader is an automated cloud-based crypto trading bot. This bot allows you to build your own algorithmic trading programs in only a few minutes and you don’t have to install it in your system.
Market place: The bot has a ‘market place’ where you can sell your strategy or buy trading strategies from other developers.
Live trading &backtesting: CryptoTrader also enables live trading and backtesting in many of the key exchanges.
Test against market conditions: CryptoTrader allows you to test your strategies against backtested data and prevailing market conditions. It keeps you on top of the market by updating you on market events and trends through text and email notifications.
It’s supported in the key markets including
The bot’s monthly charges range between 0.0017 BTC and 0.0212 BTC per month.
Pros and cons
Easy to use
Scant information on the team behind it
10. BTC Robot
BTC Robot is a pioneer automated Bitcoin trading bots. It runs well in the major operating systems, although its prices in various platforms vary – Mac users pay more compared to Windows users. Its cheapest plan costs $149.
Easy to install: The bot is known to be easy to install and use. Some users, however, claim that some of its technical aspects are hard to grasp. Also, the company points out that the predictions made by its algorithms are not always perfect.
60-day refund: What stands out most about BTC, though, is its 60-day refund policy.
BTC offers three price packages – a $19.99 per month plan, a 39.99 per month plan, and premium plan that costs $399 per year.
Pros and cons
Easy to install
To run it on MacOS you need a VPS
Only trades Bitcoin
Need to work with MT4 brokers
Shrimpy emerged on the market, in 2018, and has quickly gained popularity in the trading community. The founders had the goal of attracting people who couldn’t afford expensive bots. This is why they offer a good range of services for free.
All business operations are conducted transparently. If there is anything to update users on, the team puts out statements on their social media accounts.
The primary feature of this tool is a built-in auto trade algorithm that can place orders on your behalf. Aside from automating the trading process, Shrimpy can offer a decent range of additional features:
Rebalancing – Instead of merely buying and holding crypto, this feature realigns your portfolio of assets for the maximum gain.
Backtesting – Analyze your potential strategy and compare it with historical results.
Social trading – Follow and copy other traders’ actions and their portfolio allocations
Shrimpy offers a free Hodler trading bot package that gives you access to all portfolio tracking features. The professional version costs from $13/month, and the enterprise version is charged individually.
The bot supports some major cryptocurrency exchanges, such as Binance, Bittrex, KuCoin, Coinbase Pro, Kraken, etc. Ideally, the list could be more extensive, but the team is working on adding more crypto exchange APIs.
Zignaly is another cloud-based platform requiring no installation or server updates. External signal providers (there are currently more than 20 providers) are part of the platform and help users automate the trading process.
Here are the main features that make this an attractive tool for traders:
Crypto signals – The platform features third-party signalers, including Mining Hamster Signals, Crypto Base Scanner, and others of this type. These providers are actually industry professionals that analyze market fluctuations and predict favorable conditions for profits.
Trailing stop-loss – This feature is not something most exchanges offer, but it is one of the most popular strategies. It helps you profit from the market upside without the risks of losses from the crypto market upside.
TradeView bot – Zignaly connects to your TradingView account. TradeView bot allows you to utilize custom trading signals in combination with automatic indicators.
No limit on trades – There are no limitations on cryptocurrencies you can trade. It gives traders a lot of freedom to choose.
Zignaly offers only one pricing tier of $15.99. At this point, this subscription gives you access to priority support, unlimited coin pairs, and positions. In the future, the company assures there will be unlimited exchanges.
At this point, Zignaly only supports Binance. It might present limited opportunities to traders, but the recent announcement stated that they are planning to add Bittrex as well.
Pros and cons
30-day free trial
Steady growth of users
Strong preset algorithms
Reliable signals from multiple sources
New to the market
Still in beta phase
Vulnerable to glitches
Over the last two years of existence, ProfitTrailer has managed to acquire quite a good reputation. There are conflicting reviews, but the bot is definitely worth a shot. You can get a closer look at this tool with free signals included within the cheapest package.
Before deciding what the tool is for, consider these features:
Technical analysis with specific indicators – It includes Moving Average Convergence/Divergence, Bollinger Bands, Relative Strength Index, Simple Moving Average, and some other well-known trading strategies.
Mobile-friendliness – The platform can be accessed on Android and iOS without losses in graphics or speed.
Virtual private server – Normally, VPS comes with an extra cost. ProfitTrailer, on the other hand, includes VPS in three out of five pricing plans to provide a fully managed hosting environment.
Live chat – The brand offers multiple channels of communication, including live messages, support tickets as well as educational materials like a detailed FAQ section and video guides.
ProfitTrailer lets you choose between five packages varying in API key slots, trading settings, configuration saves, buy-sell strategies, and some other features. Prices start from €25/month for the ‘signals edition’ plan (€449 for a lifetime subscription) and go up to €99/month (€1,299 for a lifetime deal).
The platform gives you access to automated trading on Binance, BitMEX, Huobi, Bittrex, Kucoin, and Poloniex. ProfitTrailer supports all coins listed on these platforms.
Pros and cons
Wide range of tools
Multiple buy and sell strategies
Strong community of traders
Hard to configure
No documented proof of performance
Has to be regularly rebooted
The team behind Kryll.io has expertise in the fields of software development, trading, law, machine learning, and economic sciences. This online platform for automated cryptocurrency trading strategies appeals to traders with different experience levels.
Kryll.io has certain characteristics that make it stand out from other similar projects, such as:
What-You-See-Is-What-You-Trade concept – The technology behind all strategies is made as simple as possible. It ensures control of the strategies, even advanced ones.
Drag-and-drop editor – With this feature, you can create custom strategies by picking functional blocks. The right combination of these blocks can make a powerful one-of-a-kind strategy.
Kryll Marketplace – If you don’t feel confident about creating your own strategies, you can browse ready-made strategies. All the results and statistics about these strategies are made public.
KRL earnings – Income generated from the activity on this platform is received in KRL, Kryll.io tokens. If other users utilize your strategy, the earnings are also in KRL.
Kryll.io requires no paid subscription. If you want to create a strategy and test, you will not be charged for it. But whether you use your strategy or someone else’s, it will come at a fee. The fees depend on the amount of KRL tokens you are holding. For example, if you hold 200,000 KRL, you will receive a 95% fee discount.
The tool supports Binance, Bittrex, Poloniex, HitBTC, BitStamp, and other exchanges. With further development, there should be a more extensive list of available platforms.
Pros and cons
Easy to use
Kryll Marketplace of strategies
Reasonable fee structure
Still in a nascent stage
Strategies may be expensive to use
15. Exchange Valet
Exchange Valet is a desktop app available to Windows, Mac, and Linux users. The app is mainly focused on automated trading functionality. Unfortunately, there is little information known about the team behind this project.
The range of trading tools available on Exchange Valet includes:
Stop loss and take profit, which is usually provided by similar solutions;
Limit panic sells, trailing stop-loss orders, and simultaneous stop-loss/take-profit orders, which is not something you can always get;
Speed Trade feature so that you lose profitable opportunities;
Pie charts that provide visual representation when you look up your funds’ asset allocations.
For users who are not well-versed in cryptocurrency, there are many educational resources on the platform. Along with FAQ articles and tutorials, users can connect to their Telegram and Discord to remain updated on all the news.
Exchange Valet Pricing
Exchange Valet doesn’t offer varying functionality across different pricing tiers. Instead, there are different billing terms – one month for $29, three months for $75, and a yearly subscription for $250. For any of the packages, you can request a 14-day trial.
Currently, you can automate cryptocurrency trading on Binance and Bittrex exchanges. For traders who want a wider variety of options, it might be a problem.
Pros and cons
Mobile and email notifications
Suitable for beginners and advanced traders
Many additional features
Responsive customer support
Only two exchanges supported
Lack of transparent ownership
Need to download an app
16. Margin.de (Leonardo)
The Margin.de service used to be known as Leonardo before it was acquired by different owners and revamped. The interface was improved, and some functionalities were added.
For example, Margin.de currently offers the following features:
Technical indicators – Users get access to MACD, EMA, RSI, VWAP, and other indicators
Visual trading – Visual representation of what markets and assets you are working with makes everything simpler
Drag and drop customization – The interface can be changed depending on your preferences with a few clicks
The pricing plans for this service are organized as a one-time payment. Currently, these lifetime licenses have 25% discounts. There are three types of licenses you can choose from:
Starter for $129 – It gives you access to all technical indicators and bots, which is a pretty good deal. However, you can trade on only one exchange;
Standard for $259 – In addition to technical indicators and bots, you get to trade on all supported exchanges
Professional $2999 – This plan lets you add up to 3 APIs per exchange, but is linked to a single exchange account along with other capabilities available through previous packages.
As of right now, there are already many supported exchanges. The list includes Binance, KuCoin, Latoken, Coinbase Pro, Kraken, Bitfinex, and many more. The full list is available on the official website.
Pros and cons
A wide combination of indicators
Numerous cryptocurrency exchanges
No variable fee structures
Large initial investment
Overly complex custom strategies
Autonio is a decentralized, artificial intelligence trading tool. According to the team behind this project, AI-based algorithmic trading makes this tool fundamentally different from other services.
Here are the most notable characteristics about the Autonio trading bot:
30 key trading indicators – including Relative Strength Index, Bollinger Bands, Ultimate Oscillator, and EMA crossovers
Users maintaining control over the process – Even though the trade is automated, users decide how frequently the robot places trades, whether a strategy needs to be optimized, how to integrate various indicators, etc.
Backtesting – You can trail strategies with five indicators and see how it would perform on real historical figures
Social investing and trading – You have the option to track experienced traders and manage with their actions to achieve similar portfolio and profits
Uncommon features – trading consultancy, algorithm marketplace, order flow trading.
A subscription for the Autonio platform costs $50/month with no differentiation of tiers or functionality. You will also have to pay a one-time registration fee. After that, you will have unrestricted access to the Autonio functionality.
At this point, the platform supports the following exchanges: Bittrex, Bitfinex, Bitstamp, Kraken, and QuadrigaCX. The cryptocurrency pair combinations you can trade with depend on what currencies are listed on these exchanges.
Pros and cons
Requires no coding or trading experience
Competitive marketplace of AI algorithms
One pricing plan with no cheaper alternative
Little information about the team
The Tradewave bot has been discontinued
Tradewave was not a traditional trading bot. It’s was a platform that allowed you to create your own trading bot and have it automatically trade for you in exchanges. The platform was shutdown in 2017.
Cloud-based: This platform used Python, and it allowed you to code on your browser and have the bot run on the cloud. This means that you didn’t have to worry about downtime and your computer didn’t have to be plugged to the internet all the time.
Shared trading strategies: Another great thing about Tradewave is that there were trading strategies shared in its community that you could try out.
It cost 19.99 per month
Pros and cons
Free back testing
Limited free version
2. USI Tech
USI was banned in the United States and Canada after a cease-and-desist order against the company
USI Tech is a Forex trading bot that also offers cryptocurrency trading packages. Unlike most trading bots that need installation and set up, USI TECH’s approach to trading is different. As a user, you have no control of the bot. Instead, you pay for an expert cryptocurrency trader, and then USI TECH guarantees you daily profit from the trades.
USI Tech Pricing
You can opt for your preferred investment plan from which will then earn you about 1 percent of your capital daily.
Pros and cons
Easy to use
Offers affiliate program
Results not guaranteed
Our Methodology for Finding the Best Automated Cryptocurrency Platform
While we were in the research phase of this article, we looked at a huge number of cryptocurrency trading bots. To keep our data objective, we created a stringent set of standards. A bot could only make it onto this list if it adequately fulfilled several criteria: team reputation, support and guides, general bot features, price, and reviews.
1. Team Reputation
The bot development teams needed to be in good standing within the trading community. While evaluating each bot’s team, we looked for the following information:
Degrees and other qualifications of each team member
Companies that the team members have worked for
The startup funding source
Country of incorporation
2. Support & Guides
One important consideration was how much support the team provided for the bot’s users. Were there channels available to reach out for assistance? Would they help with bugs in just a couple of days, or would it take weeks? When you’re implementing a cryptocurrency trading bot as a critical part of your trading strategy, it is crucial that you can get help quickly. We determined whether the team was sufficiently supportive by checking the following:
Is there an active Discord or Telegram community, in which the team is actually active?
Are there multiple channels available to get in touch with the team?
Does the support team respond promptly?
Does the team publish updates to discussion forums on a regular basis?
3. General Bot Features
While it isn’t necessary to use a crypto trading bot that’s totally overloaded with extras, there are some key features that we want to see:
4. Trading Bot AI
The last point on the features list was AI algorithms. Why is this beneficial, and is it different from a bot? Yes, absolutely. AI strategies are more dynamic than the strategies a traditional crypto bot uses.
Through deep machine learning, an AI bot can actually analyze and understand data – thus, it can adjust its own algorithms in order to adapt to new data. While it isn’t 100% necessary for your crypto bot to have AI features, it can be a great way to take some of the analytical burdens off of your shoulders.
If you use a costly crypto trading bot, it reduces the amount of money that you can funnel into your portfolio. We aren’t saying that you shouldn’t use an expensive bot – but you should be sure to weigh the rewards vs. the cost. A $1,000 bot will likely just be eating into your portfolio. So, we tried to find bots that both provide high-quality services while also fitting into a modest budget.
6. Ease of Use
Many crypto bots are way too complex for a beginner trader to use. We have only included bots that can fit multiple comfort levels – they provide necessary core features while also being user-intuitive.
One of the best ways to see if a crypto trading bot is worth its salt is to see the feedback that real users have given. We scoured crypto review forums, as well as more general review sites like Trustpilot. For a crypto bot to make it on our list, the majority of its users had to be satisfied.
Features to Consider When Choosing a Cryptocurrency Trading Bot
There are some specific key functions to keep in mind when considering a cryptocurrency trading bot. You might come across these functions when researching bots, so it’s important you understand exactly what each one means.
DCA (dollar cost averaging) bots follow the DCA strategy, meaning that they invest into an asset at present intervals. This will reduce the entry price over time, allowing the trader to get a more ideal average price for their position- and, in turn, reducing consequential risks from local price movements.
Let’s look at a practical example. Say you invest $1,000 per month into an asset for five consecutive months. Now, if the prices at the end of each month were $95, $80, $70, $90, and $100, your average price of the asset would be $85.5. If you invested the entire amount in the very beginning, you would have paid $100 per share. DCA Bots can automate this process, thus saving you money.
Options are high-risk financial instruments that can be tricky to master – thankfully, options bots make it easier. To learn more about how Options work, check out our comprehensive blog post on the subject.
A GRID crypto bot acts in a similar manner as a DCA bot. The bot places an initial buy order and then more orders if the price moves in the opposite direction. The primary difference between the two bots is that a GRID bot places a separate take profit order for each buy order – whereas a DCA bot will place one take profit order for all buy orders.
Some crypto bots have social trading features. When a trader uses a social trading strategy, they will observe the trading behavior of expert traders and peers and then follow along. Bots that have social trading hardcoded in will automate this process.
Some crypto bots have marketplaces where users can buy and sell trading strategies and signals.
Crypto bots with backtesting features will use historical data to reconstruct trades that would have happened in the past. The final result will offer the trader statistics to gauge the effectiveness of those trading strategies. The underlying theory is that a strategy that worked in the past will likely work in the future. Backtesting crypto bots will do the analysis so that the trader doesn’t have to.
Trading securities are stocks and bonds that will be purchased and sold to make money in the short term. These are fast-moving investments, so it helps to have a bot to keep on top of it, since these investments are often traded on a daily basis.
Stop Loss and Take Profit with Trailing
Trailing stop loss can save you from a lot of losses, as it allows you to rake in some profits even if your trading position doesn’t quite make it to your profit target. It can be seen as a safety net.
For instance, let’s say that you have an arm trailing stop-loss set to 3% and a trailing stop-loss percentage set to 1%. If your trade moved to +3.5% at its highest and then dropped by 1%, the bot will sell it at +2.5%. Now you have made a 2.5% profit, rather than taking a loss if it had dropped any further.
Securities that are traded during the market’s business hours are considered to be intraday trades. Intraday price movements are important to day traders who want to make several trades during a single session. Day trading bots can help you automate this process.
Scalping is a lower-risk trade strategy used for short-term profits. A bot with scalping features will closely monitor the price of a particular asset and take advantage of fluctuations. A scalping crypto bot will consider three main factors before acting: the Relative Strength Index, support and resistance levels, and the moving average.
Types of Cryptocurrency Trading Bots and Strategies
When researching crypto trade bots, you might come across several strategies again and again, such as:
Mean Reversion: This strategy assumes that if a price shifts away from its average, it will eventually revert back. When the mean reversion strategy is coded into a bot, an asset will be sold off in bulk if the price goes up. If the price drops, the asset will be accumulated as much as possible.
Momentum Trading: When a crypto trading bot uses this strategy, it will ride the market’s positive moment wave – and then immediately sell your assets once the momentum begins to reverse. Timing is absolutely critical in this strategy, which is why using a crypto bot can be so beneficial. If the momentum switch happens while you are unavailable, the bot can take care of the buy-in and sell-off for you.
Arbitrage: Asset prices can vary from exchange to exchange – even a fractional difference can be used to your advantage. By using the arbitrage strategy, a bot can buy and sell crypto on multiple exchanges at the same time. The differences in value will net you a profit, which will add up over time.
Coin Lending: If you follow this strategy, you will lend coins to margin traders – and they will later return it with a certain percentage of interest.
Naive Bayes: A crypto trading bot can use machine learning in order to determine the probability of a certain event. When you feed the bot information over time, it can determine ideal entry and exit times.
Natural Language Processing: When news articles, tweets, and other kinds of internet content are published, the price of a cryptocurrency asset can fluctuate in response. Some bots use NLP programming in order to interpret news articles and read the trends. It then uses its interpretation to start accumulating assets at advantageous times.
Many of our blog readers have questions regarding crypto trading bots, so we’ll answer the most common ones here.
Are Trading Bots Legal?
Cryptocurrency trading bots are fully legal – however, not all brokers allow bot trading.
The issue of the legal nature of digital currency and transactions is treated differently in each country. In this regard, various jurisdictions view digital currency as a means of payment or, broadly speaking, as a medium of exchange.
Cryptocurrency bots are trading tools, rather than magical cure-alls. In order for you to see profitable returns, you need to be familiar with different trading strategies. Bot trading isn’t a field where you can just “set it and forget it.”
That being said, if you are familiar with cryptocurrency trading, you have a stack of crypto, and you understand profitable strategies, cryptocurrency bots can be an excellent way to implement time-efficient trades on a 24-hour basis.
While there are many Bitcoin bots that do a sufficient job of managing your assets, you can check out our Top Bots page to see the ones that are the best performing.
The list is updated every 24 hours, and you can see information about each bot, such as their profit per day, the number of days running, deals, whether Stop Loss is enabled, and when the bot was last edited. Now, which ones do we think are best? Keep reading to find out – we’ll give you a list of our top picks.
A Telegram cryptobot is able to interact with your trading account via an application programming interface (API), and it can place, buy, and sell orders for you. Some advantages of using Telegram cryptobots alongside a crypto signals group include:
More trading opportunities. Such an opportunity can happen at any time – such as when you are working or sleeping. When you use a Telegram cryptobot, it can automatically follow trades that are released by your signal group, even if you are unavailable.
Easier trade execution. When you manually place a trade, there is always the chance that you might mistakenly enter or exit the trade at the wrong price points. This could potentially reduce your profits or even cause you to take a loss. However, when you use a Telegram cryptobot, you don’t have to worry about that, since you are specifying the buy and sell price points before entering the trades. Trade execution will become much more precise.
Cryptocurrency trading bots are vital tools for traders. If you’re capable of adjusting their settings and defining effective trading strategies, your bot can be your best trading tool.
However, some bots are either unreliable or outright scams, and so it is important that you do due diligence before you get one. Read reviews and do your homework to ensure that you choose a trustworthy and reliable crypto trading bot.
The contents of this article are not intended to be financial advice and should not be treated as such. 3commas and its authors do not take any responsibility for your profits or losses after you read this article. The info contained herein is based on data that was gathered from a variety of sources. This should not be used as a parameter for investing. The user must do their own independent research to make informed decisions regarding their crypto investments.