When should you use a Crypto trading bot?
Many functions that a well-executed bot can conduct for you are rebalancing, portfolio management, data collection, smart order routing, etc.
What exactly can you improve with trading bots? Let’s take a look.
Note: Original Crypto Trading Bot article was published on Medium.
#1 Repetitive Tasks
Repetitive tasks consume a lot of time and effort. A crypto trading bot will allow you to virtually “copy and paste” specific tasks to conduct trades with ease. One of the best ways where bots can help with repetition is in periodic rebalances. If you want to conduct hourly rebalances, then you’ll need to, as the name suggests, rebalance your portfolio every hour. So, you have two options:
- Set the alarm every hour to rebalance the portfolio and lose your sanity in the process.
- Create a trading bot and program it to rebalance your portfolio every hour till the end of time.
Timing and achieving a high degree of accuracy in your trading is essential for trading. Every single trade that you make can have an enormous impact on your potential earnings. Let’s take an example. Suppose the price of Bitcoin is going down, and you want to sell your position the moment BTC hits the $59,000 support line. If you were to do this manually, you’d have to patiently and carefully observe the price chart, and even then, you may not pull the trigger at the right time. The trading bot can be easily programmed to monitor the market and execute a trade at the correct times.
#3 Complications can be simplified
Consider the example of “smart order routing.”
- The idea is to route trades through numerous trading pairs.
- Every single trading pair needs to be carefully determined as per its timing, asset quantity, and trading price.
- This entire route needs to be finished within a specific time-limit before the market conditions change.
It seems pretty easy to understand, right? However, the execution of this trade could be nearly impossible. This is just one of the many examples of the several complexities that should be factored in while training. Some strategies could be almost impossible to implement.
Trading bots could be used to automate these complicated and seemingly impossible strategies with ease.
Table of contents
- When should you use a Crypto trading bot?
- Crypto Trading Bot Discounts and Coupon Codes 🔥
- The best crypto trading bot in 2021
- #1 Pionex — FREE Crypto Trading Bot for Bitcoin
- #2 Bitsgap — Automated Crypto Trading
- #3 Cryptohopper — World-class automated crypto trading bot
- #4 Quadency — A smarter way to trade and manage your crypto
- #5 Mudrex: Smart crypto investments on AutoPilot
- #6 Coinrule — Trade while you sleep
- #7 3Commas — Smart Trading terminal and auto trading bot
- #8 TradeSanta — Automated Crypto Trading Made Simple
- #9 HaasOnline — The most advanced automated crypto trade bots
- #10 Shrimpy — The social trading platform for cryptocurrency
- #11 CryptoHero — Automated Crypto Trading Bots Powered By AI
- #12 Botsfolio — Use Powerful automated trading systems
- #13 Napbots — Crypto trading on autopilot
- #14 Botcrypto — Crypto trading on autopilot
- #15 Trality — Create Trading Bots Like a Pro
- #16 Superalgos — Free and Open-Source Crypto Trading Bots
- Best Crypto Trading Bot for Bitcoin in 2020
Crypto Trading Bot Discounts and Coupon Codes 🔥
3 Best Crypto Grid Trading Bots
The best crypto trading bot in 2021
#1 Pionex — FREE Crypto Trading Bot for Bitcoin
Don’t need to hassle with the API Keys while using Pionex. So far, there’re 12 crypto trading bots on Pionex:Grid Trading Bot, Leveraged Grid Bot, Margin Grid Bot, Infinity Grid Bot, Reverse Grid Bot, Leveraged Reverse Grid Bot, Dollar-Cost Averaging Bot, TWAP Bot, Trailing Take Profit Bot, and Spot-Futures Arbitrage Bot.
Pionex is the exchange with the in-built crypto trading bot. It’s one of the best free trading bot platforms for cryptocurrency I’ve ever seen since 2017. (the year I start buying crypto :P) It aggregates the liquidity from Binance and Huobi and provides a free trading bot upon it.
The trading bot on Pionex is easy to use. And mostly I prefer trading bitcoin with these trading bots. Bitcoin has a higher market cap, and it’s the center of the whole cryptocurrency IMO.
Pionex is safe and has been granted the MAS and MBS licenses from Singapore, and U.S. Pionex is the first crypto trading bot on my list.
Read Pionex Review
#2 Bitsgap — Automated Crypto Trading
Bitsgap is best known for its unique automated trading bot. Thousands of traders with different experience and skill sets are using Bitsgap on a daily basis to maximize returns by automating their trading.
The algorithm implemented by Bitsgap is based on a simple and effective technique, called GRID. It distributes investment proportionally within a trading range predefined by a trader.
Each time the buy limit orderis filled, a new sell order is placed by the bot right above that price. And vice versa, a new buy order is placed below any filled sell order. As long as the price stays within the borders of the trading range, the bot will be trading non-stop.
Bitsgap algorithm is designed to maximize profit from buying low and selling high each time the price swings. Automated bots have all the risk-control features like Stop-loss, Trailing UP, Take profit, and several exit strategies.
- A cloud-based solution, so you don’t need to download anything
- Trading bots are based on a transparent and efficient logic
- Risk-free trading simulator in DEMO mode
- Backtested Strategies for a quick bot start
- 14-Day Free Trial
Read Bitsgap Review
#3 Cryptohopper — World-class automated crypto trading bot
One of the well-known trading bots on Cryptohopper is the market-making bot. It’s similar to the Grid Bot in Pionex, but it’s more focused on profit from the spread on the order book.
The tagline of Cryptohopper is quite eye-catching to me: World-class automated crypto trading bot 😉
#4 Quadency — A smarter way to trade and manage your crypto
The best part of Quadency is the backtesting feature, with which you can do it based on data and numbers instead of shooting it in the dark. It’s also the most important feature for a crypto trading bot; it’s always nice to know the performance upon history data before using your money with the crypto trading bot.
Read Quadency Review
#5 Mudrex: Smart crypto investments on AutoPilot
Mudrex makes investing in crypto bots as simple as investing in a mutual fund. They are very transparent about their info, have a wide variety of bots based on our risk appetite, and a pricing model that is by far the best we have seen.Y-combinator backed Mudrex outshines everyone else on the list!
Mudrex has over 7000 users and over 400 Mn USD traded on it. They are backed by well known VCs and angel investors and have a very active and engaged community. They are connected with 8 of the top exchanges and are some of the very few on this list who are able to support US customers as well.
Mudrex does not buildits own bot but instead has a curated marketplace of bots created by pro traders. The best part about the platform is that all info regarding the performance of a bot is public and easy for users to understand.
If you were looking for a platform using which you can invest your crypto, then Mudrex might just be it!
You can also read an in-depth Mudrex review here.
#6 Coinrule — Trade while you sleep
Coinrule is the best crypto trading bot for beginners. The “if-this-then-that” rule logic allows even less advanced traders to build their trading strategy in a minute. The user-friendly interface guides users in building the trading bot step-by-step.
The template library includes over 150 pre-set rules that help beginners running the trading system that suits their needs. The platform allows different trading strategies, including stop loss, take profit, and integrates the main technical indicators. The list of trading strategies that Coinrule allows is limitless and the company posts regularly new ideas in the Knowledge Base of the platform.
Another interesting feature is the built-in Demo exchange. Traders can test their trading systems in a safe environment with a virtual allocation of coins. The Demo rules run on prices that come directly from Binance, risk-free.
Read Coinrule Review
Read 3Commas vs Coinrule
#7 3Commas — Smart Trading terminal and auto trading bot
3Commas is one of the most famous crypto trading bots. I put it on the #6 of the list because the UI is more for a professional trader. As their users become more and more professional, they turn their product development for pro users.
So if you’re a professional bot trader already, then you should try 3Commas.
- It has two subscription levels — Basic and Pro. The basic level costs $25/month, while the latter costs $84/month and has a lot more features.
- The cryptocurrency trading bot on 3Commas can implement multiple strategies based on technical indicators.
- The community is good, and you can buy some online courses for using the 3Commas Bitcoin trading bot.
Read 3Commas Review
Cryptohopper vs 3Commas vs Shrimpy
#8 TradeSanta — Automated Crypto Trading Made Simple
You’ll need to pay from $14 to $70 per month according to your package.
One of the features I’ve tried with TradeSanta Trading Bot is the Grid Bot. Pionex and BitUniverse have already provided the same feature for free, so if you’re here for grid bot, I don’t see it necessary to purchase the package. But if you’re here for other features, then you can evaluate the feature by yourself.
Read TradeSanta Review
#9 HaasOnline — The most advanced automated crypto trade bots
HaasOnline is a paid crypto trading bot platform that is unlike any other. Similar to the other trade bots mentioned, they offer your standard pre-built trading bots for strategies like arbitrage and market-making and other tools.
However, with the release of HaasScript, their scripting language, you can develop highly complex trading bots using a drag-and-drop designer or intelli-sense editor. You also have the ability to backtest or paper trade your strategies before executing live trades on over 25 exchanges.
Their current product is a locally hosted non-custodial trade server, which offers complete discretion and privacy, keeping prying eyes away from your trade data and strategies. They also plan to launch a cloud version for retail traders. There’s no free trial, but they do offer a discounted 14-day trial license.
Read HaasOnline Review
#10 Shrimpy — The social trading platform for cryptocurrency
Shrimpy is a paid Crypto Trading Bot service for rebalancing. This is also the feature that makes it different from other bitcoin trading bot services. It helps you to automate your portfolio and rebalance it to a specific ratio.
For sure, Shrimpy is one of the excellent cryptocurrency trading bots in 2020, and that’s why I am listing it here. But it is a bot especially designed for portfolio management, indexing, rebalancing, and strategic backtesting.
The best part of it is to rebalance your portfolio when you are hodling the coins. It supports 10+ crypto exchanges.
For Shrimpy, it only executes a few trades every day. So it’s better for a HODLER.
Read Shrimpy Review
#11 CryptoHero — Automated Crypto Trading Bots Powered By AI
CryptoHero allows you to automate trades right from your phone easily for free. No coding skills needed. You can trade popular cryptocurrencies such as Bitcoin, Ethereum with bots based on technical indicators 24/7.
CryptoHero supports multiple exchanges, allows you to track all your crypto trading performance individually or aggregation across exchanges through one app.
Bots can be configured with technical indicators. Enter a trade with one, exit with another, all without writing a single line of code. Besides, CryptoHero offers preset for popular technical indicators and allows multiple rules and triggers to work together.
You can also backtest your bots with historical data before deploying. And, get an indicative performance of your trading bot based on actual data with different trading frequency, against different time periods of up to a year.
#12 Botsfolio — Use Powerful automated trading systems
Botsfolio takes a risk assessment quiz and then recommends the best crypto investment strategy that you can automate. The trading bots are pre-built and strategies are recommended based on your financial goals, risk appetite & financial condition. This makes it easy for the user to trade crypto without any coding or trading skills.
They have bots for 5 different investment styles: Value investing b) Hedged Trading c) Futures Trading d) Index SIP e) Fixed Income. They have automated different investment styles that are used by professional hedge funds and investment banks.
The Hedged trading bot is the most famous as it provides active trading while reducing loss using a hedge.
You get a 1-month free trial and the cost for bots ranges from $1 to $85 per month.
Read Botsfolio Review
#13 Napbots — Crypto trading on autopilot
NapBots seeks to democratize quantitative trading giving direct access to professional algorithmic crypto trading strategies in a plug n’ play style, so their users don’t have to worry about having any type of skills to be able to use this platform.
Based on the trading frequency(weekly, daily & hourly) users can choose from a variety of in-house made crypto trading strategies to automate their trading and allocate their funds. Many NapBots customers choose to diversify between multiple strategies to reduce risk, others prefer to stick to one crypto strategy. Easy to take in hand, NapBots is addictive. You are investing and having fun!
NapBots makes you trade like a pro and give you instant access to professional crypto trading strategies in 3 simple steps:
- Connect your crypto exchange.
- Select the crypto strategies of your preference.
- Relax, and let the bot do the hard work.
NapBots is part of the Napoleon Group which is a French group of companies founded by former multi-billion asset managers at Tier 1 banks, who have designed, created, and run high-performance trading bots for the past ten years.
Read Napbots review
#14 Botcrypto — Crypto trading on autopilot
Botcrypto is a very interesting platform if you want to personalize trading bots. They developed a drag and drop interface where you can combine more than 20 technical indicators (RSI, MACD, Moving Averages, Ichimoku Clouds, …) to build your strategy. So you don’t need to code! Stop losses, take profits and notifications are also available.
Backtests and real-time simulations are free. When you’re ready to go, subscriptions start at 12$/month.
#15 Trality — Create Trading Bots Like a Pro
I discovered Trality last year in 2020 and despite still being a young company, it is in our rankings for its great focus on the bot-creation process and the professional nature of the platform. It distinguishes itself from the majority of other solutions in that it does not provide ready-to-go, black box bots right away but gives you absolutely everything you might need to develop a professional-level algorithm on your own.
Trality’s killer feature is its one-of-a-kind, in-browser Code Editor, which allows even the most intricate and creative strategies to be written in Python with loads of unique order types. If you are neither a professional trader nor a Python developer, that is not a problem at all. Trality has another product, what it calls its ‘Rule Builder’ to help you build your bot with zero programming skills required. Just put your trading logic all together using simple drag and drop UI and it’s ready to go
The platform is also equipped with a quick and competent backtesting tool to help fine-tune the parameters and validate your ideas. Once the bot is ready, it can be set up to live-trade on popular exchanges like Binance, Coinbase Pro, Kraken, and Bitpanda.
The last thing to note is that the platform has a fair pricing model that is designed for users of all experience levels. Moreover, the starting plan is absolutely free and timeless, so you can use and test the basic capacity as long as you want.
Read Trality Review
#16 Superalgos — Free and Open-Source Crypto Trading Bots
If you are a trader or developer looking to build sophisticated crypto trading bots with your own strategies, look no further than Superalgos. It is hands down the most powerful, flexible, and extensible platform, and it’s open-source, so it’s a safe bet in the long run.
Superalgos solves all of your infrastructure issues so that you may focus on building intelligence instead of wasting time-solving problems. It is the way in which the platform integrates all the concepts you need to master to succeed at trading that makes the system so powerful!
Take for example raw market data downloads from exchanges, local processing of data into standard and custom indicators, the visualization of data over the built-in charting system, the visual design of strategies following a professional framework, the different kinds of trading sessions including backtesting, paper trading, forward testing, and live trading, each of them producing visual simulations over the charts that you may debug right then and there, on a visual environment.
You know that Superalgos is built for power when you realize that the software can handle coordinated deployments of data and trading tasks across multiple machines in a network! People are setting up trading farms and scaling up operations as they build more bots, trading in more markets, with great diversification.
It is an impressive package. However, Superalgos is not a simple plug-and-play bot that you can master over the weekend. It’s a vast system that takes time to learn. That said, in-app interactive tutorials are amazing and the system is fully documented. You will appreciate the power Superalgos may unleash if you are looking to develop trading bots that will give you an edge in the market.
Also interesting, the project is running a collective business in which the whole community participates. Superalgos is a very ambitious project with a great vision to make markets more accessible.
Read Superalgos Review