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Top 5 Crypto Trading Bots is an article specifically written for Crypto traders who are intentional about trading smartly and making more profits even when they are sleeping. It is also intended for those who also desire or intends to start Crypto day trading.
Crypto trading provides traders with huge opportunities to make money online. This is, however, not always the case for many crypto traders especially the newbies. Many often go to sleep at night, only to wake up to observe huge market moves which had occurred overnight; moves that could have generated lots of money for them.
Most old trading folks who never miss out on any opportunity, no matter when such opportunities present themselves, automate their trading with Crypto Trading Bots. With bots, trading becomes more simplified and can be executed at any time even while one is sleeping. This is one of the ways smart traders make a huge amount of money in crypto day trading.
In this article, I will attempt to explain what crypto trading Bots are, the pros and cons of using crypto trading bots, and finally talk about the top 5 crypto trading bots for profitable cryptocurrencies automated trading. The crypto world today is flooded with thousands of trading bots; you must be careful not to fall into wrong hands, or download wrong crypto trading bots especially from hackers.
Before you proceed further, please do note that this article is not in any way or form, a piece of financial advice. It is for general information and educational purposes only. Read our Disclaimer here.
WHAT ARE CRYPTO TRADING BOTS?
Overview: Crypto trading bots in a layman’s language are computer programs that trade on your behalf, using a certain set of instructions or predefined rules they act with. An example of such instructions can be to buy certain units or volumes of a coin (x) if a set price (y) is reached, or a percentage change in price, and verse-versa.
A Crypto trading bot will help you to execute the trade each time the rule criteria are met. This will be repeated from time to time as the opportunities kept coming; remember cryptocurrencies are very volatile and swing all the time. Crypto trading with a bot is smart trading and you make money with this even while sleeping.
Before trading with a crypto trading bot, you will have to connect the bot to your cryptocurrencies trading exchange account. This can be achieved using Application Program Interface (API). It is the API that will give the trading bot the ability to place a trade on your behalf on the exchanges.
When bots trade for you, it also implies that you have given a computer program access to your trading account. A great concern is, what if the crypto trading bot is from a hacker’s website or a scammer? Scary right?
Well, you don’t have to be alarmed or worry much. You can set permissions on the Application Program Interface (API) of the crypto trading exchange; there, you can set what and what you want the crypto trading bot to do in your account.
You can restrict certain IP addresses, better still, you can set the API not to initiate any withdrawal from your trading account via the bot. It can also be configured in such a way that instructions executed only come from your IP address.
These are just a few ways you can add another level of protection to your trading account when using a crypto trading bot.
WHAT ARE THE PROS & CONS OF USING A CRYPTO TRADING BOT
Pros:
- The major pros in using crypto trading bots are that bots trade 24/7; even while you are asleep, a trading bot will be making money for you. This means you will never miss out on any trade opportunity that presents itself. Isn’t this cool?
- With a bot, you don’t lose money. Trading bots for crypto are designed to only execute trades when rules criteria are met. This means that if conditions are not favourable at any point in time, no trade will be executed.
- Trading bots also helps to take away trading emotions. One of the worse things that can happen to any day trader is trading with fear. Fear and panic during trading is a common thing, especially with newbies. As long as your eyes are glued to the trading screens, there will always come a time when you are forced by emotions to take certain unfavourable decisions that are contrary to your trading plans. This happens even to pro traders.
- A good crypto trading bot will have the feature that permits you to back-test any new strategy. This is done using historical trading data to test the effectiveness of any new strategy, before final implementation.
- With a trading bot, crypto day trading is made more simplified. The stress of monitoring multiple screens and cumbersome indicators are taken away and made much easier and simpler by using just one computer to run the trading. Even if one doesn’t know all the nitty-gritty involved in trading, a bot can help you trade profitably like other traders.
Cons:
- Crypto trading bots don’t come cheap. Beware of people who offer free trading bots. You are warned here!
- There are whole lots of scammers out there who are will try to sell bots to you. When you fall for them, they can hack into your trading account and you know what that means.
- Requires manual interventions from time to time. You don’t just synchronize your cryptocurrencies exchange account with a crypto trading bot and relax to count the money generated. You need to constantly twerk it to suit any prevailing market conditions, else, you may not make meaningful profits compared to the amount invested in buying the bot.
- More so, many Crypto trading bots are poorly coded. You may not make meaningful profits using them. Rather, it will help you waste your time or miss certain good opportunities.
Crypto trading bots will help you trade profitably in a more simplified way even if you are a beginner. However, they require to be constantly monitored and also tweaked from time to time. Whenever you decide to acquire anyone, ensure you make proper findings seeking recommendations and reviews from those who are using them. When you do, you are sure not to fall into the cruel hands of hackers.
WHAT ARE THE TOP FIVE (5) CRYPTO TRADING BOTS OF ALL TIME?
Now that you have got the idea of what crypto trading bot is all about, please be informed also that the cryptocurrency community is now flooded with numerous crypto trading bots and a whole lots of these lack good reputations, some don’t even work.
Without further ado, let’s then dive into the top five (5) crypto trading bots you can use to trade profitably, and their compatible exchanges. Do well to experiment with each of them to find out what works best for you. Account creation is always free and can be achieved in simple steps.
Please do note that these crypto trading bots are Editor’s picks and opinions because they have been tested and trusted. They don’t however, imply or represent any financial advice.
#1. 3COMMAS
This is a smart crypto trading bot with which crypto traders can maximize profits from cryptocurrencies trading. The platform was launched in 2017, hitherto, it has attracted over 220,000 users from all over the world and is supported in over 23 cryptocurrencies exchanges. As of December 2021, it was rated the best Cryptocurrency Trading Bot.
3Commas trading bot mostly relies on Dollar Cost Averaging to tackle the volatility that comes with crypto trading. It is also equipped with a trailing stop feature which keeps a user’s position open while profits are made, then automatically closes a position when the asset begins to go down.
3Commas is a beginners’ friendly crypto trading bot and supports a huge amount of cryptocurrencies trading pairs than every other crypto trading bot out there.
Supported Exchanges:
Binance, Huobi Global, Kucoin, Poloniex…See table below.
3Commas supported ExchangesSubscription Fees:
- Free Package: $0 Forever (But limited to One Active Smart Trade, One DCA Bot, One Grid Bot, One Option Bot and Unlimited Scalper Terminal).
- Starter Package: $174 per annum billed at $14.5 per month.
- Advanced Package: $294 per annum billed at $24.5 per month
- Pro Package: $594 per annum billed at $49.5 per month
Compare Subscription Fees Below:
Yearly Plan
Monthly Plan
#2. CRYPTO HOPPER
This Crypto Trading Bot is not just designed for expert traders, they are also beginners friendly and are equipped with so many features that can easily be understood and used by newbies for effective and profitable crypto trading.
Cryptohopper crypto trading bot emerged in 2017 by two brothers Ruud & Pim (from Dutch). The cloud-based cryptocurrencies trading bot offers speedy automated trading which makes it gain wide recognition and has attracted over 200,000 users worldwide.
The Bot supports over 100 cryptocurrencies and many Crypto Exchanges. More so, unlike in some other crypto trading bots out there, you have the opportunity to copy other traders in Cryptohopper’s platform, thereby carrying out your trading like a pro.
Supported Exchanges:
Cryptohopper officially supports the under listed exchanges:
- Binance
- Kucoin
- Houbi Global
- Poloniex
- Binance US
- com
- Kraken
- Bitfinex
- Coinbase Pro
- BITTREX
- HitBTC
- Btcpanda
- Bitvavo
- OKEx
- EXMO
Subscription Fees:
For a monthly subscription, we have:
- Pioneer Package: $0 (Free forever)
- Explorer Package: $19.0 per month (This is a starter pack; also comes with a 7days free trial)
- Adventurer Package: $49.0 per month (For more experienced traders)
- Hero Package: $99.0 per month (This is a Pro trader’s package)
For the yearly subscriptions attract discounts for the various packages as follows:
- Pioneer Package: $0 (Free forever)
- Explorer Package: $198.96 per annum at the rate of $16.58 per month (7days free trial)
- Adventurer Package: $498.96 per annum, at a discounted rate of $41.58 per month.
- Hero Package: $999.0 per annum, at a discounted rate of $83.25 per month.
#3. GUNBOT
Gunbot (AKA Gunthy) is a powerful and very easy to use crypto trading bot. The computer software is compatible with MAC, Linux, Windows and ARM.
To acquire a Gunbot for your system, payments can be made with Bitcoin, Litecoin, Ethereum, and Dash cryptocurrencies.
There are five (5) easy steps to get started with Gunbot:
- Step 1 is simply to unzip and install the software package and run it on your computer. After this, you can now access the Gunbot interface in your computer browser.
- The second step is to connect Gunbot to your cryptocurrency exchange account; this is done using the API key and Secret key created at your exchange account. As a security measure, the API secret key is only stored on your local computer or server. You have to make sure the API key is allowed to read the info and execute trades on your behalf. Gunbot would not require the API to permit fund withdrawals.
- Step number three (3) is to create a trading strategy. You have options to choose from preset ones or create custom strategies. These strategies help define when the crypto bot buys or sells. You may also decide to manually buy the coins while the bot takes care of selling.
- The fourth step is to select the trading pairs; there is no limit to this as multiple selections can be run simultaneously.
- The fifth and final step is to start running the bot. Relax and watch as the crypto bot make profits for you.
Supported Exchanges:
Most popular cryptocurrency exchanges are compatible with Gunbot. These include: Binance, Huobi KuCoin, Poloniex Global, Bitfinex, Bitmex, Bybit, Bittrex, Coinbase Pro, FTX, HitBTC and Kraken etc. Newer ones that are supported are updated regularly.
Pricing and Fees:
There are no recurring costs on Gunbot after the first purchase. All payments are for a lifetime. Prices for the various Plans are listed in Bitcoin, payments however are also possible using altcoins, stable coins and PayPal.
- Gunbot Starter: 0055BTC
- Gunbot Standard: 01375BTC
- Gunbot Pro: 020625BTC
- Gunbot Ultimate: 034375BTC
GET GUNBOT FROM AUTHORIZED DEALER
#4. SHRIMPY
Shrimpy crypto trading bot was launched on the market sometime in 2018. The main objective of the founders is to bring to the crypto trading community, a more pocket-friendly crypto bot that will still perform even better than other bots.
There are a lot of services offered for free in the Shrimpy platform, and the goal here is to attract crypto traders who couldn’t afford those bots that are more expensive.
One of the cool things about the Shrimpy Crypto bot or platform is that it has this feature for social trading too. This means that a trader especially newbies or novices can follow and or copy other profitable top crypto traders, their strategy and even their portfolio. This is a sure way of trading profitably as a beginner.
Supported Exchanges:
Shrimpy crypto trading bot supports some of the major exchanges, these include but are not limited to Binance, KuCoin, Huobi Global, Poloniex, Bittrex Global, Coinbase Pro, Kraken, Gemini, Bibox, BitMart, HitBTC, OKEX, Bitstamp.
Subscription Fees/Pricing:
For a monthly subscription, we have:
- Starter Package: $19.0 (Ideal for those traders who are just getting on board)
- Professional Package: $79.0 per month (For traders who might want to have some level of control over their investment)
- Enterprise Package: $299 per month (For companies or those who are into portfolio management)
For a yearly subscription, we have:
- Starter Package: $15 (Ideal for those traders who are just getting on board)
- Professional Package: $63 per month (For traders who might want to have some level of control over their investment)
- Enterprise Package: $299 per month (For companies or those who are into portfolio management)
#.5 TRADESANTA
TradeSanta is also a cloud-based cryptocurrency automated trading software. Because it is hosted and runs in the cloud, this crypto trading bot can help you monitor or execute trades whether you are online or not.
TradeSanta currently supports a few exchanges like Binance, Huobi Global, Bittrex, HitBTC Bitfinex, and Upbit…more will soon be added as they are working on them.
Tradesanta currently has over 118000 active users hitherto. The crypto trading bot is very suitable for beginners or old crypto traders who desire to try automated trading with bots.
Also ideal for pro traders who understand the cryptocurrency markets and have an idea on how to develop trading strategies, and seeking a tool to carry out the actual programming for them.
Subscription and pricing:
TradeSanta offers relatively very affordable subscription plans as follows:
- Basic Plan: $14 per month
- Advanced Plan: $20 per month
- Maximum Plan: $30 per month
You can also sign up for a three-day free trial.
Once you are done with the sign up for any package (or free trial as the case may be), then the next thing to do is to connect Tradesanta with your cryptocurrency exchange account using the API key.
It is very easy to carry out your crypto trading using after connecting your exchange account to Tradesanta. Decide on the cryptocurrencies pairs you wish to trade. Then choose a trading strategy that fits your style and present market condition, then the bot will take over to make profits for you.
If you know about other good trading bots not mentioned, kindly comment in the comment box.
If you are yet to join the crypto revolution, start now by opening a trading account with Binance Exchange, Huobi Global and Kucoin. Kindly use the referral links below and this will mean a lot to me.
- Binance https://accounts.binance.com/en-NG/register?ref=25660385
- Houbi Global https://www.huobi.com/en-us/topic/double-reward/?invite_code=9wumc
- Kucoin https://www.kucoin.com/ucenter/signup?rcode=auKstJ
CONCLUSION
Crypto Trading Bots can help you trade profitably at any time. Though they are computer programs that execute trades automatically, they still require time to time monitoring and twerking.
When you have made up your mind to acquire a Crypto Trading Bot, please carry out a proper assessment, so as not to fall into the hands of SCAMMERS.
It will also be a wise idea to keep a bunch of your funds off the crypto trading exchange connected to the crypto trading bot.
REFERRAL LINKS
Kindly sign up using these referral Links for signups:
- 3COMMAS https://bit.ly/3commas-josh-fleming
- CRYPTOHOPPER https://bit.ly/cryptohopper-josh-fleming
- TRADESANTA https://bit.ly/tradesanta-josh-fleming
If this article is of benefit to you, please do well to leave us a comment in the comment box. Also, share the article using any of the social medial buttons below. Thanks and happy trading.
Disclaimer: Please do note that this is not in any way a piece of financial advice. It is intended for informational purposes only.
