A crypto trading market is extremely active and volatile. Traders must have in-depth knowledge of the cryptocurrency market, great trading experience, and enough time to become successful on crypto trading platforms. Bots save a considerable amount of time by automating the trading process in the most convenient way for the trader. That’s why search engines are full of requests asking how to make a trading bot by oneself or with the help of software specialists. Still, there are many ready-made solutions on the web. This article is a review of the most popular trading bots that anyone can get via the Internet.
5 Best Bots for Crypto Trading
All free crypto trading programs have a basic algorithm to follow. They buy a cryptocurrency when its stock price decreases and sell it when its asset price increases. Yet, this is not enough for profit, so many bot vendors included paid features that boost the efficiency of trading. This list includes the most reputable ready-made trading bots that offer both basic and paid features that you can use for successful trades.
1. Cryptohopper
Among numerous crypto trading bots, Cryptohopper is the most hyped and the best tool for both beginning and experienced traders. The program offers integrated strategies based on single or multiple indicators (Bollinger, Bands, Stochastic, SMA, RSI). A trader can subscribe to free or paid recommendations on purchase and sales from the market experts. For now, this bot can process up to 75 currency pairs, though its creators are going to increase this number. Within Poloniex and Bittrex, Cryptohopper can follow short-sell and arbitrage trading algorithms.
Cryptohopper supports Binance, Kraken, Bittrex, Poloniex, Gdax, etc.
Monthly price: 7 days for free, Explorer license – $19, Adventurer – $49, Hero – $99
2. HaasBot
HaasBot is one of the most popular yet complex trading bots. It automates trading strategies on the exchange markets, predicts market changes, and has 10 indicators for technical analysis. Using the advanced license, a trader can run more than 10 bots at a time. Users can easily modify HaasBot according to their needs if they have enough programming skills. A trader may also use arbitrage bots for trading three currency pairs in the exchange market.
Supported markets: Binance, Bitfinex, Deribit, Gemini, Kraken, Kucoin, and others.
Monthly Price: Beginner license – 0.12BTC, Standard – 0.2BTC, Advanced – 0.32BTC
3. 3Commas
By using 3Commas, traders benefit from the SmartTrade function that allows opening Buy/Sell orders and setting StopLoss and TakeProfit orders for the same deal. Users can create a trading bot themselves or select one from the list. 3Commas also offers ready-to-use portfolios for technical analysis. Thus, users can track their results, analyze trading history, keep the trader’s diary, as well as follow the portfolios and metrics of other traders.
3Commas connects to Binance, Kucoin, Bitmex, Bittrex, Coinbase Pro, Poloniex, HitBTC, Cex, etc.
Monthly price: Starter plan – $22, Advanced – $37, Pro – $75
4. ProfitTrailer
ProfitTrailer is a complex system that automates buy and sell strategies. The scope of its settings includes the choice of coins, the 24-hour price change, the number of trading pairs, a coin blacklist, trailings, etc. Its convenient UI allows monitoring the coin market and open positions. A trader can set separate indicator settings for any pair. Users can configure a particular strategy for each coin to get the most efficient result.
Supported platforms: Binance, Bittrex, Poloniex, Kucoin, Huobi.
Monthly price: Free Paper license, Signals edition – €30, Basic – €49, Advanced – €69
5. Hodlbot
Created in 2018, Hodlbot has become one of the fastest-growing and popular tools among crypto investors. The program allows users to “play on the safe side” within irrational or abrupt changes in the market. Users profit from the price volatility rather than its rise. A trader can also create a portfolio with advanced statistics on the market. Within dynamic market changes, Hodlbot rebalances a trader’s portfolio to help them avoid various risks and improve returns.
Hodlbot connects to Binance, Bittrex, Exmo, Bitfinex, Yobit, and others.
Monthly price: Depends on the value of a trader’s account. If the value is lower than $500, the bot is free. If higher, the price is $10.
Honorable Mention: Zenbot
Zenbot is a free-of-charge open-source platform; that’s why it stands out from other trading programs on the list. However, a trader must be skilled at JavaScript programming and MongoDB to create their own trading strategy or activate one of the 25 pre-set options. The program can sell several cryptocurrencies at a time and build charts on deals made by a bot. Zenbot helps professional traders prepare for the market twists and, based on past data, build a successful strategy for the future.
Supported exchange markets: Binance, Bitstamp, Bitfinex, Quadriga, Gemini, GDAX, Kraken, Bittrex.
Price: Free.
Conclusion
Crypto trading is risky and full of surprises – both pleasant and painful. Using unreliable software doubles the risk of failure. Before choosing a trading bot, investors should scrutinize each program they intend to use. However, traders must know that even secure and reliable bots don’t guarantee a sky-high profit. Still, they can automate trading routines and prevent traders from emotional choices, which makes them so popular now.
