The crypto market has evolved at a rapid speed in the past decade. It has got over many issues that traders faced. You have, now, options of minimizing losses and maximizing profits. One of the most spectacular inventions in this area is the cryptocurrency trading bot.
Introduction to crypto trading bots:
A cryptocurrency trading bot is an answer to most of your trading problems. It is a computer program that automates your trades. Crypto trading bot reads market trends and indicators. It makes buy/sell decisions based on market data.
A Crypto bot throws emotions out of the equation. It executes orders based on signals. The client can have say in which signals the bot reads. Nevertheless, the bot makes moves independently. It can do copy trades of successful traders, maximize profits through arbitrage, and manage your portfolio.
Bot makes trade within a blink of an eye. Humans can’t compete with their speed. Some of the big firms with hedge funds develop their own bots to get ahead of everyone else. You too can buy bot and beat the competitors on the same ground.
Features of the best crypto trading bot:
There are multiple crypto trading bots in the market. You can pick one which fulfils your demands or built one for a more personalized experience. Although, bots are supposed to make your trading easier and rewarding but choosing the wrong bot can prove devastating.
1. Ease of use:
Ease of use is important for understanding the functions of the bot. Go for excellent user experience. Additionally, a simple and intuitive interface will save navigation time. Resultantly, you can start trade immediately.
There are suspicious elements in the crypto market just like any other market. When you employ software for asset trade, you are giving it access to your wallet. Do a security check and make sure that the bot has no malware. Also, read reviews of previous users to see the market reputation of bot providers.
The best trading bot will support near-to-all crypto exchanges. So, before buying a bot check its supported exchanges. See if it supports the ones through which you are making trades.
Backtesting allows you to run the bot on previous market data to see if it will make profitable trades. You can assess the efficiency of the bot and thus make the right choice. Hence, signup for a bot with built-in backtesting feature.
The trading bot with a copy-trading feature makes replica moves. For instance, there is an expert trader who spends 10% assets on particular trade the bot will automatically do the same. It is also called social trading. This helps you make trades like a professional, successful trader.
Last but not the least important thing about the crypto trading bot is its profitability. Do complete research on how much profit a particular bot will add in through trading. Read user reviews and ask for expert opinions. Remember, the whole point of using a bot is about increasing earnings. So don’t compromise on this aspect.You can also ask experts on autotradingstrategies for their opinion regarding different bots. They will provide you complete analysis for making an informed choice.
Now that we have discussed the features of crypto trading bots, lets discuss the specifications of some best bots in the market. Here is the list of popular bots:
Cryptohopper is one of the best crypto trading bot in the market right now. It is relatively new, introduced in 2017. However, Cryptohopper has been able to attract expert traders with its unique features.
Cryptohopper was the first bot to incorporate the copy trading feature. It supports all exchanges in the market. Besides, automated trading is available for 100+ cryptocurrencies. With the backtesting feature, you can test the efficiency of the bot. It also lets you use customized trading strategies.
Cryptohopper has expert tools that can be easily used. All these cool features come with a price. Cryptohopper pricing plans start at $16.58/month. The advanced level plan is available at $83.25/month. However, the starter plan has a 7-day free trial that lets you have some hands-on experience with the bot’s features.
3commas is an advanced level trading bot. It was able to earn gains for users during the crypto bear market. So we can say it stood the test of time.
3commas supports trade on 23 exchanges. Its unique feature is smart trading or trailing. This feature allows the trade to close at the most profitable position. Also, stop loss lets trade close before the trader losses more money. The smart cover helps in generating income in case of unplanned market movements.
3commas has a backtesting feature as well for strategies and bot functioning. Besides, this is a web-based bot. Users can access it through a website.
3commas price is slightly lower than Cryptohopper. Its starter plan is available at $14.50/month with 3 days free trial. If you opt for a professional plan then the price is $49.50/month.
HassOnline has been in the market for quite some time. it was created in 2014. Initially, hassbot only analyzed market conditions but now it automates trade for users.
HassOnline comes with a pre-configured strategy. However, users are free to customize it according to their needs. You can trade on all the popular exchanges with HassOnline. It is cloud-based so trading goes on 24/7 without running the system. Users can optimize trading strategies by using bracketing features.
HassOnline is improving with time. It has introduced multiple products for helping traders. These products include HassOnline Cloud, HassOnline trade server, and HassScript.
It charges fees in BTC instead of fiat currency. The starter plan costs 0.028 BTC per month while the advanced plan costs 0.08 BTC per month for 3 months subscription. You can save some money by subscribing with 12 months plan.
Gunbot takes pride in entirely evolved on community input. It has thousands of active users around the globe. The platform provides excellent customer support to its users.
Gunbot is compatible with 100+ spot trading crypto exchanges. Users can trade with unlimited pairs and decide the execution of order with confirming indicators. Additionally, price trailing can be used for most order types. Gunbot also offers backtesting add-on. It has 15 pre-configured strategies for users to choose from. However, with the manipulation 0f 150 parameters, users can customize strategies in any shape or form.
Gunbot is a computer-based bot that runs on Windows, Linux, and Mac operating systems. This is the downside as the bot needs a running system to function.
Gunbot charges a one-time fee. All of the future updates are free of cost. Gun bot starter package costs 0.02 BTC while Gunbot ultimate costs 0.125 BTC. For Backtesting and trading view add on, you will have to pay an extra price.
Zignaly (Free crypto bot):
Zignaly is free of cost crypto trading bot. The bot has come on the scene only recently and is in the developing phase. However, its features have been able to attract a huge chunk of crypto traders.
It is a cloud-based bot. Zignaly offers users to open a demo account for paper trading in order to try features. Users can do copy trading, automate trade based on signals and employ trading terminals for stop-loss, etc.
Zignaly is safe and secure. It supports fee popular exchanges for now but developers are in the process of widening the scope. The customer support is easily available with this bot. You can connect to the developer and provide suggest changes in the product.
Digiebot was developed in 2018 by a team of experienced developers and traders. The idea behind this software is to help cryptocurrency enthusiasts at all levels.
Digiebot is compatible with two of the famous exchanges, Binance and Kraken. It supports 18 cryptocurrency coins. The key feature of digiebot is that it uses current leading indicators for making trade decisions. Users have full control over triggers and they can enter the trade manually if they want.
Digiebot supports and guides traders along the journey. Even if someone has no knowledge of crypto, they too can take advantage of digiebot platform. It is one of the best crypto trading bot in the development phase. You can see the performance report to assess its working yourself.
Digiebot started plan costs $100 per month while the advanced level plan costs $1295 annually.
Take advantage of this state of the art bot technology and buy digiebot today.
Conclusion (Best Crypto trading bots):
We have discussed top crypto trading bot with their feature is this article. The best crypto bot for you is the one that fulfills your dream of making money while making your life easier. Hence pick the right one and patiently wait for it to do the job. Additionally, keep assessing the bot’s performance. Make the best use of your time and money. Don’t just ‘set and forget’.
The best trading bot will quadruple your gains. Consequently, you will earn the fruits of your effort in the sweetest form.