This article discuss the best bot for crypto trading.
What is bot for crypto trading?
A bot for crypto trading is trading software which carry out automatic crypto trading on behalf a trader. There are two types of bots for crypto trading, i.e. online web version (cloud version) and desktop version. Online web version runs from the server of the provider, while the desktop version needs to run on virtual private server (VPS). This article would only discuss on crypto bot running on cloud based or online crypto trading bot.
How does bot for crypto trading work?
Bot for crypto trading works 24/7 to profit by trying to buy low and sell high. A good crypto trading bot shall be of non-custodial type of platform, which means the crypto trading bot does not hold your trading fund for security reason. Bot for crypto trading works by connecting to your crypto exchanges by using exchange API key and place buy and sell in your crypto exchange automatically for a trader. For security reason, a trader shall not enable the fund withdrawal option of any exchange API key, to avoid any unauthorized person to drain away the fund. If you encountered any bot for crypto trading or platform which require you to deposit trading fund to them, it is most likely that it is a scam, and you shall stay away from the platform. You shall not simply depositing your trading fund to any website as the website might run away with your fund.
What are the best bot for crypto trading?
Based on our observation and testing, the best bot for crypto trading are Cryptohopper, 3commas, Bitsgap, Tradesanta, Shrimpy, and Pionex (listed not in any particular order). These bot for crypto trading are user friendly for crypto beginners, easy to set up, and affordable in their subscription plans. Some of the bot for crypto trading even offer free plan for lifetime. Check out the details below.
What is Cryptohopper and its trading strategies?
Cryptohopper is a bot for crypto trading which helps to carry out automatic crypto trading based on trading indicators or technical analysis. It allows a trader to create own strategies by combining popular indicators and candle patterns, for examples MACD, RSI, EMA, Bollinger Bands, Identical Three Crows, Abandoned Baby Bullish, Bullish Doji Star, and many more, to create buy and sell signals to enter or exit the crypto market automatically. Cryptohopper scans all the crypto trading pairs (total quantity of pairs limited by different subscription plan) in real time for trading opportunities and execute trades automatically. Cryptohopper also allows for a trader to carry out Dollar Cost Averaging (DCA) and shorting crypto.
Cryptohopper bot for crypto trading marketplace
Cryptohopper offers bot for crypto trading marketplace for both free and paid crypto trading strategies and crypto trading signals. This is very useful for those traders that do not know how to create their own strategy.
What is so special about Cryptohopper which makes it more powerful as compared to other bot for crypto trading?
Cryptohopper is special and more powerful than the other bot for crypto trading available in the market due to the following features:
- Cryptohopper is able to scan the selected crypto trading pairs in real time and enter and exit position when any of the trading pairs met the conditions set.
- Cryptohopper allows trader to design own trading strategies based on multiple conditions by using different trading indicators.
- Cryptohopper offers backtesting for each strategies and also paper account for real time trading by using paper money.
- Cryptohopper is able to short the market. Shorting in spot market means sell the crypto at current price and buy it back at lower price to profit or reduce negative positions during down trend.
- Cryptohopper allows trader to do automatic global panic sell by using trigger. Trigger could be set to automatic panic sell all the trading position during a crypto market flash crash with percentage to be decided by the trader.
Who is suitable for Cryptohopper?
Cryptohopper is suitable for day traders, swing traders, and traders who wish to get in and out the crypto market based on signals from trading indicators. As Cryptohopper could open both a small or big position and take profit based on each position, it is suitable for traders with small or big fund/capital. A trader could open multiple positions concurrently.
Cryptohopper Pricing Plan
Cryptohopper pricing plan starts from $16.58/month for Explorer package (pay annually at lower price). There is lifetime free plan which do not have automatic trading features.
Cryptohopper Referral Code
Use the following Cryptohopper Referral Code/Link to register a 7 days Free Trial Account (Explorer package) to test the crypto trading bot.
What is 3commas and its trading strategies?
3commas is a bot for crypto trading which helps a trader to trade automatically with Dollar Cost Averaging (DCA), Grid Trading, and Options strategies. A trader could long (buy low and sell high) or short (sell high and buy low) in crypto spot market buy using 3commas DCA Bot, and a position could be opened based on combination of trading indicators (RSI, Bollinger Band, Moving Average, etc.) and TradingView Screener. In DCA Bot, 3commas scan crypto market in real time to find trading opportunities. In Grid Trading Bot, 3commas offers normal grid trading strategy.
3commas bot for crypto trading marketplace
In 3commas marketplace, a trader could subscribe to signals to be used to open a position or enter trade in DCA Bot.
What is so special about 3commas which makes it more powerful as compared to other bot for crypto trading?
3commas is special and more powerful than the other bot for crypto trading available in the market due to the following features:
- 3commas is able to scan crypto market in real time for all the crypto trading pairs supported by respective exchange. Yes, the amount of pairs for scanning could be unlimited in its composite bot.
- 3commas offers signal from TradingView crypto screener (buy, strong buy, sell, strong sell).
- 3commas is able to short the market. Shorting in spot market means sell the crypto at current price and buy it back at lower price to profit or reduce negative positions during down trend.
- 3commas Free plan allows for one DCA Bot and one Grid Bot, which is great for a trader looking for free crypto trading bot for lifetime.
Who is suitable for 3commas?
3commas is suitable for day traders, frequent traders, and traders who wish to trade using DCA or Grid strategies. A trader could open multiple positions with composite DCA Bot, thus suitable for traders with both small and big fund/capital.
3commas Pricing Plan
3commas starts with Starter Plan at $14.5/month (paid annually for discounted rate). 3commas offers lifetime Free Plan also.
3commas Referral Code
Register 3commas Free Plan and 10% Discount By Using 3commas Referral Code: tc597021
What is Bitsgap and its trading strategies?
Bitgsap is a bot for crypto trading which trade automatically using grid trading strategy. Grid trading would use a major portion of the fund to purchase the selected crypto, split the remaining fund and the purchased crypto into a number grids (portions) which is to be decided by a trader, and then place a series of buy orders (below current price) and sell orders (above current price). Through the grids, it helps to buy low (using balance of fund) and sell high (using purchased crypto) whenever the price hit the grids. It will continuously place buy and sell order as long as the current price is within the predetermined upper and lower limit of price.
What is so special about Bitsgap which makes it more powerful as compared to other bot for crypto trading?
- Bitsgap is special and more powerful than the other bot for crypto trading available in the market due to the following features:
- Bitsgap offers Trailing Up and Trailing Down features, where Bitsgap will automatically adjust the upper limit and lower limit if the current price went above or below the limits. This is helpful to overcome the issue of grid trading where the normal grid trading bot would stop trading outside those upper and lower price limit.
- Bitgsap offers grid trading backtesting and demo trading. This is helpful for users to test their grid strategies and settings before deploying the actual trade.
Who is suitable for Bitsgap?
Bitsgap is suitable for traders who wish to profit in both market directions. Grid trading works best in sideway market. Although grid trading is of lower risk than the other trading strategies, the profit would be less as it trades in smaller positions size as the fund is split into smaller portions. In order to have bigger profit, a huge amount of fund shall be allocated for the grid trading bot. Although grid profit is positive, it is very important to note that if the market goes downwards, the net worth of the crypto purchased (yet to sell) would still reduce and record as negative position.
Bitsgap Pricing Plan
Bitsgap pricing plan starts from $19/month for Basic Plan. There is free plan which could only run as demo account.
Bitsgap Referral Code
Use the following Bitsgap Referral Code/Link to register a Free Trial Pro Plan for 14 days to test the crypto trading bot.
What is Tradesanta and its trading strategies?
Tradesanta is a bot for crypto trading to trade automatically with grid trading or DCA strategies. For grid trading, Tradesanta is a bit different from normal grid trading as Tradesanta does not use a major portion to purchase a crypto. Instead, it spits the fund into grids (portions) and purchase only one portion at a time to start with a deal. Each of every time, it only place one sell order (above the current price) and one buy order (below the current price). Tradesanta DCA bot works similar to its grid bot, and the only difference is the DCA combines all deals and take profit by selling the whole positions while the grid bot would take profit by the individual deals and sell based on the grid profit with respect to each deal.
What is so special about Tradesanta which makes it more powerful as compared to other bot for crypto trading?
Tradesanta is special and more powerful than the other bot for crypto trading available in the market due to the following features:
- Tradesanta is able to short the market in both DCA and grid bot. Shorting in spot market means sell the crypto at current price and buy it back at lower price to profit or reduce negative positions during down trend.
- Tradesanta grid bot could open deal based on Tradingview crypto screener or custom signals.
- Tradesanta grid bot allows to set up bot with small fund. Normal grid bot would require bigger fund as normal grid bot places a series of sell orders. With Tradesanta, a trader could start the bot at lower amount of fund as the grid bot only place one sell position at a time (unless the sell position is not sold, new positions are opened).
Who is suitable for Tradesanta?
Tradesanta is suitable for traders who use grid trading or DCA method to profit from up or down market as Tradesanta could open both long and short positions (in separate bots).
Tradesanta Pricing Plan
Tradesanta pricing plan starts from $14/month for Basic plan (pay annually at lower price).
Tradesanta Referral Code
Use the following Tradesanta Referral Code/Link to register Free Trial Account and Get 50% Discount to test the crypto trading bot.
What is Shrimpy and its trading strategies?
Shrimpy is a bot for crypto trading to automate the rebalancing strategy for a crypto portfolio. Rebalancing is strategy to keep all the cryptocurrencies in a portfolio at a predetermined proportion/weightage/allocation. As the price of cryptocurrencies rise or decline at different rates, over the time, the original portfolio might misaligned. The rebalancing would realign by selling those cryptocurrencies which grows and buy those cryptocurrencies which shrink in position to achieve the original weightage. In down market, the whole net worth of the portfolio might still go down, however, the rebalancing helps to keep the weightage of the cryptocurrencies as aligned as possible.
Shrimpy bot for crypto trading marketplace
Shrimpy offers bot for crypto trading marketplace which is called social trading, by allowing the users to follow some Leaders’ portfolio. This is very useful for those traders that do not know how to create their own crypto portfolio.
What is so special about Shrimpy which makes it more powerful as compared to other bot for crypto trading?
Shrimpy is special and more powerful than the other bot for crypto trading available in the market due to the following features:
- Shrimpy offers social trading by allowing a trader to follow other traders’ crypto portfolio and rebalancing.
- Shrimpy offers one click portfolio buy orders. This is a great features where a trader could set to purchase different type of cryptocurrencies in bulk (support up to purchase up to more than 200 types of cryptocurrencies in one click). This save times and make trading easy, when a trader wish to diversify his portfolio. Normally, a trader have to open position individually and one after another. If he wish to purchase 200 types of crypto, he would need to open 200 positions. By using Shrimpy, it only takes around 5 minutes to purchase 200 types of crypto in one operation.
- Shrimpy offers one click sell or portfolio stop loss to sell the whole crypto portfolio. It is useful during a market flash crash as Shrimpy could be set to panic sell the whole portfolio in matters of a few minutes. Shrimpy tracks the whole net worth of the portfolio and it could automatically panic sell if the whole net worth of the crypto portfolio drops below the percentage predetermined within a specific time period that could be set. After panic sell of the whole portfolio, a trader could rebuy the whole portfolio again he decided to reenter the market.
Who is suitable for Shrimpy?
Shrimpy is suitable for crypto portfolio holder or hodler who want to diversify in crypto investment and to maintain the allocation/weightage of each cryptocurrency.
Shrimpy Pricing Plan
Shrimpy pricing plan starts from $15/month for Starter plan (pay annually at lower price).
Shrimpy Referral Code
Use the following Shrimpy Referral Code/Link to register free Shrimpy account to test the crypto trading bot.
What is Pionex and its trading strategies?
Pionex is a crypto exchange with built in bot for crypto trading. Pionex is a broker for Binance exchange and market maker for Huobi. Pionex offers grid trading, reverse grid, infinity grids, DCA, spot futures arbitrage bot, rebalancing bot, leveraged grid, margin grid, leveraged reverse grid, etc. As Pionex is a crypto exchange, a trader needs to transfer fund or crypto to Pionex in order to trade using the crypto bots. As traders trade in Pionex, there is no need of API key to use the crypto bots.
What is so special about Pionex which makes it more powerful as compared to other bot for crypto trading?
Pionex is special and more powerful than the other bot for crypto trading available in the market due to the following features:
- Pionex reverse grid is able to short the market. Shorting in spot market means sell the crypto at current price and buy it back at lower price to profit or reduce negative positions during down trend.
- Pionex offers infinity grid which has a lower limit price, however no upper limit price. This means that the grid trading bot would run as long as the price does not fall below the lower limit price.
- The trading bots in Pionex are free to be used. As Pionex is a crypto exchange, there is trading fees at 0.05% per transaction, which the fee is very low as compared to the other crypto exchange.
Who is suitable for Pionex?
Pionex is suitable for traders who wanted to trade at lower trading fee at 0.05% per transaction by using crypto bots.
Pionex Pricing Plan
Pionex offers free crypto trading bot. Similar to trading in other exchanges, Pionex apply trading fee, however at a very low rate at 0.05% per transaction as compared to other exchanges which normally charge from 0.075% to 0.2% per transaction.
Pionex Referral Code
Use the following Pionex Referral Code/Link : uOcX8TgZ
Do bot for crypto trading make money?
Bot for crypto trading do make money during bull market or up trending market. However, bot for crypto trading does not make money during bear market or down trending market, unless it has a short function (sell crypto now and rebuy later at lower price). The issue with trading bot is actually laying on the fact that there is no trading indicator or trading strategy that always accurate at all time. It is very difficult to get perfect entry because crypto market is volatile and difficult to be predicted. Pro-trader usually do not use crypto trading bot as they need to react based on market conditions. Bot for crypto trading works exactly based on the setting, however, during downtrend, false signals always happen.
What are crypto bot binance?
Crypto bot Binance is bot for crypto trading which could be used in Binance exchange. Check out step by step on how to register for Binance.