Best Crypto Trading Bot – 2019: Top 9 Bitcoin Trading Bots Reviewed

The Best Cryptocurrency Trading Bots in 2019

cryptocurrency trading bot

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.

What’s a crypto trading bot?

A trading bot is a piece of software that’s designed to analyze cryptocurrency trading data and to place sell or buy orders on a trader’s behalf.

Cryptocurrency trading bots act based on pre-programmed and predefined rules. Their decision making is hinged on the price movements in the market – they typically analyze market actions like price, volume, time, and orders. Once you’ve acquired a bot, you can customize it to suit your trading preferences.

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 do you choose the best trading bot?

  • Reliability

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.

  • Security

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. 

  • Profitability

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

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

Pros

  • Efficiency

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.

  • Emotionless

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.

  •  Increased speed

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.

  • Running period

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.

Cons

  •  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.

  • Requires monitoring

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.


Top 10 best trading bots

1. 3commas

3Commas crypto trading bot

3commas is a popular web-based trading bot that supports numerous devices and exchanges. Over 70,000 traders currently use the platform and over $60m worth of trades are transacted on it daily.

3commas supports over 12 exchanges and so its users are able to track multiple orders on various exchanges and develop informed trading strategies.

Features

  1. 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.
  2. 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.
  3. 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.
  4. Mobile Apps: The 3commas team has developed mobile apps for both iOS Android.
  5. 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.
  6. 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.

3commas Pricing

  1. Starter ($290 per year, 145 for 6 month period, or $29 per Month)
  2. Access to Smart Trading terminal
  3. Access to all available exchanges
  4. Notification for cancellations and errors
  5. Pro ($990 per year, 495 for a 6 month period, or $99 per Month)
  6. Access to a Smart Trading terminal
  7. Full portfolio management
  8. Custom TradingView signals
  9. Access to Bitmex bots, composite bots, and simple bots
  10. Enterprise (Price on demand)
  11. Access to API
  12. Priority support
  13. Totally free for users who have less than $750 on exchange

Platforms

3commas supports 12 exchanges including

BitFinexBittrex
HuobiCoinbase
GateBinance DEX
BitstampBinance
PoloniexKucoin
BitMexKraken

Pros and cons

Pros Cons
Intuitive and clean interface
Copy-trading feature
Smart Trading feature
Supports many exchanges­­­­­­­­
Cloud-based system
Offers sufficient educational tools
Good marketplace
Offers affiliate program
Not very useful to inexperienced traders

Note:3 commas offers free 7 days trial and ability to use it for free

2. Gunbot

Gunbot cryptocurrency trading bot

Gunbot is a popular trading bot that 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.

Features

  1. Inbuilt trading strategies: Gunbotcomes 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.
  2. Customizable: You can customize the strategies and align them to your trading style.
  3. Lite version: This bot has a Lite version that offers limited features that you can use it to experiment with smaller amounts.

Platforms

This crypto trading bot is compatible with the following major exchanges:

Binance
Bittrex
Bitfinex
CEX.io  
Cryptopia
Poliniex
Gdax
Kraken

Gunbot Pricing

Gunbot offers three price packages depending on the features you want on the bot.

Gunbot- standard edition (0.1 Bitcoin)

  • Access all strategies
  • Easy setup
  • Free  support
  • 1 exchange included

GunBot- Pro edition (0.15 Bitcoin)

  • 3 Exchanges included
  • Inclusive of backtesting
  • Free support

GunBot- Ultimate edition (0.25 Bitcoin)

  • Backtesting included
  • Free support
  • 5 exchanges included plus trading view

Pros and cons

Pros Cons
Offers multiple trading strategies
Easy to use
Offer multiple licenses
Supports a good number of the large crypto exchanges  
Relatively expensive
There has been of occasional bug reports  

3.    CryptoHopper

Cryptohopper trading bot interface

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.

Features

  1. Easy set up: The bot comes with an intuitive dashboard that only takes about 5 minutes to set up.
  2. 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.

Platforms

Currently, the bot can integrate with most major exchanges that include:

Kraken
KuCoin
Coinbase
Cryptopia
Huobi
Binance
Bittrex
Bitfinex
Poloniex

Cryptohopper Pricing

Cryptohopper offers three pricing packages with prices ranging from $19 per month to $49 per month.

Explorer Hopper starter- $19/ month

  • 80 positions
  • Maximum 2 triggers
  • 15 selected coin maximum
  • Paper trading

Adventure hopper medium- $49/ month

  • 200 positions
  • 50 selected coin
  • 5 triggers
  • Paper trading

Hero hopper pro- $99/ month

  • 500 positions
  • 75 selected coin
  • Technical analysis
  • Maximum 10 triggers

Pros and cons

Pros Cons
Easy to setup
Good marketplace
Goon coin and exchange support  
Insufficient team info  

4.    Gekko

Gekko crypto bot dashboard

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.

Features

  1. Web interface: The bot comes equipped with a web interface that allows you to monitor data and trading strategies.
  2. Back-test feature: Gekko allows you to back-test data and see projections of your trade results.
  3. Notification feature: It also keeps you updated through social media platforms, email, and telegram.

Platforms

Gekko supports numerous Bitcoin exchanges that include:

  • Poloniex
  • Bistamp
  • Bitfinex

The bot is not for high-frequency trading though, and it doesn’t allow you to tap into arbitrage opportunities.

Gekko Pricing

Free

Pros and cons

Pros Cons
Totally free   Not effective in high-frequency trading
Can’t exploit arbitrage opportunities  


5.    Zenbot

Zenbot crypto trading bot charts

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.

Features

  1. Artificial Intelligence: The bot is lightweight and it’s powered by artificial intelligence.
  2. 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.

Platforms

Zenbot is supported by the main Bitcoin exchanges like

  • Bittrex
  • Poloniex
  • Gemini
  • GDAX
  • Quadriga

Zebot Pricing

Free

Pros and cons

Pros Cons
Works well in high-frequency trading
Can trade multiple assets simultaneously  
Doesn’t have a user interface to run it
You need technical skills  

6.    AutoView

Autoview crypto trading bot

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.

Features

  1. 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.

Platforms

Autoview offers a free version that works with

  • BitmexTestnet
  • 1Broker
  • GDAX
  • Sandbox
  • Bitfinex
  • Binance
  • Kraken and ten other exchanges

Autoview Pricing

It offers a free version and a paid version that costs $269.99 per year or $24.00 per month

Pros and cons

Pros 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


7.     CryptoTrader

Cryptotrader trading bot

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.

Features

  1. Market place: The bot has a ‘market place’ where you can sell your strategy or buy trading strategies from other developers.
  2. Live trading &backtesting: CryptoTrader also enables live trading and backtesting in many of the key exchanges. 
  3. 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.

Platforms

 It’s supported in the key markets including

  • BTCC,
  • Bitstamp
  • Coinbase.

Cryptotrader pricing

The bot’s monthly charges range between 0.006 BT and 0.087 BTC.

Pros and cons

Pros Cons
Easy to use
It’s cloud-based
Scant information on the team behind it  

8.     BTC Robot

BTC Robot crypto trading bot interface

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.

Features

  1. 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.
  2. 60-day refund: What stands out most about BTC, though, is its 60-day refund policy.

BTC Pricing

BTC offers three price packagesa $19.99 per month plan, a 39.99 per month plan, and premium plan that costs $399 per year.

Pros and cons

Pros Cons
Easy to install
Fully automated  
To run it on MacOS you need a VPS
Only trades Bitcoin
Need to work with MT4 brokers


9.    Tradewave

TradeWave crypto trading bot charts

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.

Features

  1. 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.
  2. Shared trading strategies: Another great thing about Tradewave is that there were trading strategies shared in its community that you could try out.

Platforms

Tradewave supports

  • Bitstamp
  • BTC-E.

Tradewave Pricing

  • It cost 19.99 per month

Pros and cons

Pros Cons
Free back testing
Simplified coding  
Limited free version  

10.    USI Tech

USI Tech crypto trading bo

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

Pros Cons
Easy to use
Offers affiliate program
Newbie friendly  
Results not guaranteed  

Top 4 trading bots

3Commas Cryptohopper Cryptotrader Zenbot
Price – $24 Month
Integrations:
Bittrex
Bitfinex
Binance
Binance DEX
Bitstamp
Kucoin
Poloniex
HitBTC
CEX.io
Coinbase Pro
OKex
Huobi
Yobit
Coinbase Prime
Bitmex
Oanda
Kraken
Type – Cloud
External Signal – Yes  
Price – $ 19 Month
Integrations:
Binance
Bitfinex
Bittrex
CEX.io
Coinbase Pro
Cobinhood
Cryptopia
HitBTC
Huobi
Kraken
Kucoin
Poloniex
Type – Cloud
External Signals – Yes  
Price – 0.0043 BTC Month
Integrations:
Binance
Bitfinex
Bistamp
Bittrex
Coinbase
Huobi
Kucoin
Kraken
Poloniex
Type – Cloud
External signals – Yes  
Price: Free
Integrations:
Bittrex
Poloniex
Gemini
Coinbase
Quadriga
Type: Open Source  

Conclusion

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.

Click here and get you free 7 days trial on 3commas

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