There is a lot of hype in the crypto market about automated cryptocurrency trading bots. For people asking, “What is a Crypto Trading Bot?” Well, a bot is a software program that performs a specified set of tasks within some defined rules, and so, a crypto trading bot is a software program that conducts trading within the rules defined by traders. Moreover, since it’s a software program, it runs automatically after the initial setup. Check out these 16 Best Paid and FREE Crypto Trading Bots.
Why do we need Crypto trading bots?The answer is pretty simple; crypto bots overcome all physical and computational limitations of humans. In theory, these bots are supposed to generate profits by looking through the exchanges for even the smallest of changes in the market, monitoring prices 24/7, and high-speed decision-making.
There is a lot to be uncovered in this area. Therefore we bring you the best crypto trading bots in the market and their features to help you stay top on the subject.
A little heads up, a long but informative article ahead!!
Plus, if you plan to dive deep, we have provided valuable quick links to reviews in the segments below.
Best Crypto Trading BotsWe have gathered a list of what we feel are the best bots out there, and therefore the article is intended to be reasonably educational. Without further ado, let’s briefly discuss these16 Best Paid and FREE Crypto Trading Bots so you could find the best one suited for you.
1. PionexPionex, being an exchange that provides in-built trading bots, is quite famous for being one of the lowest trading fees in the market.
16 Best Paid and FREE Crypto Trading Bots : Pionex HighlightsBitsgap is a multi-exchange trading and asset management tool for cryptocurrency. It provides services like Signals, Trading Bots, and Arbitrage in addition to trading.
HighlightsCoinrule is a platform that provides automated trading without having to understand code-based technicalities.
Visit Coinrule Highlights3Commas, established in 2017, is a crypto trading platform with tools for automated bitcoin trading and altcoins, and portfolio management.
Visit 3commas HighlightsCryptohopper is an automated crypto trading bot and a portfolio manager that aids the trading of coins 24/7. Data-driven and precise, its decision-making avoids emotional quotient while trading.
Visit Cryptohopper HighlightsDeGate combines the benefits of both CEXs and DEXs. It offers a secure, cost-efficient, and user-friendly platform for trading.
DeGate offers features like Dollar-Cost Averaging (DCA) and automated grid trading, which can be valuable tools for users looking to implement consistent investment and trading strategies .
Visit DeGate Now HighlightsSMARD is a fully automated trading solution that can be used by novices as well as experienced traders who want to bypass the intricacies of market analysis. There are several portfolio management strategies built into the software, so users don’t need to manually adjust any of the settings.
Visit Smard Now 16 Best Paid and FREE Crypto Trading Bots : Smard HighlightsThe main benefit of SMARD is that it eliminates the requirement for customization and the necessity for the user to comprehend the complexities of trade. Every deal is carried out automatically while adhering to tight guidelines for risk management and portfolio management.
Customers have the option of selecting a customizable momentum impact futures approach. This enables the technique to forecast future market winners and losers and is intended to generate profits in both bull and bear markets.
FeaturesCornix is an automated crypto trading platform using cutting-edge automation for novices and pros. Cornix empowers people everywhere to trade crypto successfully.
Visit Cornix HighlightsCornix trading bot helps you automate Telegram-based crypto signals by integrating your crypto exchange.
Moreover, Cornix has its mobile application and telegram bot to serve the purpose. All you have to do is download and connect Cornix to Telegram crypto signals channels, and its bot makes trade from your account.
It also offers TradingView alerts based on your trading strategy. In addition, It also launched a DCA bot recently.
Visit Cornix 16 Best Paid and FREE Crypto Trading Bots : Cornix PricingUse code FREE to get a 10% discount on your Cornix subscription fee.
8. CryptoHeroCryptoHero is a cloud-based crypto trading bot platform, which places trades 24/7 on crypto exchanges. Furthermore, CryptoHero bots are simple and intuitive for crypto beginners to set up and run.
Visit CryptoHero HighlightsAlso provides paper trading to help understand technicalities without any loss.
Visit CryptoHero Highlights 16 Best Paid and FREE Crypto Trading Bots : CryptoHero Plans 9. BotsfolioBotsfolio is one of the simplest and easiest platforms for crypto trade automation, with one of the best risk management.
Visit Botsfolio HighlightsBotcrypto is a platform for creating a trading bot to trade automatically in the simplest way possible.
Visit Botcrypto HighlightsWunderTrading is a crypto exchange that has automated trading as one of the many services. It currently offers bitcoin and other cryptocurrency exchange services, social trading platforms, bitcoin payment processing services, and over-the-counter services.
Visit WunderTrading HighlightsSuperalgos Project is a token-incentivized open-source project building an open trading intelligence network; in short, it is an open-source crypto trading bot.
Visit Superalgos How does Superalgos work?In layman’s terms, it is an open-source environment accessible to all.
Superalgos is a one-stop-shop for designing, building, testing, and deploying crypto trading bots.
16 Best Paid and FREE Crypto Trading Bots : SuperalgosOctoBot stands out with its approach around free trading strategies and open-source ecosystem. Users can either choose a trading strategy from the prebuilt GRID, DCA
or AI strategies or create their own version with different level of configuration according to their technical knowledge.
Platforms Available: Cloud-based Web Application, Desktop & Mobile App.
Tokens: All leading tokens are supported for trading.
Trading Bots: Grid Trading Bots, DCA Bots, AI Bots, TradingView Bots
Exchanges: 10+ including Binance, Kucoin, OKX, Bybit
Altrady’s unique automated crypto trading tools have thousands of traders using it every day to maximize returns by automating their trades. The company offers several types of bots, including GRID and SIGNAL Bots that provide experienced traders with an easy way for them to take advantage in fast-paced markets without having any knowledge or skill set on hand.
Visit Altrady HighlightsWorth mentioning that they are continuously improving their set of features, and on their short roadmap Q3-Q4 of 2022, they will add:
Explore the following before opting for a Cryptocurrency Trading bot.
Apart from the above, you can also look out for things like backtesting strategies, paper trading, copy trading, and cloud-based or not (all terms explained in the article).
What are some of the Strategies used by trading bots?The most heard names in strategies for algorithmic/ automated crypto trading are:
The following is what many of the automated bots implement for gaining profit.
The strategy can identify the type of bot it is based on. For example, a bot following the Arbitrage Strategy for crypto becomes a Crypto Arbitrage Bot, and so on. So a mix of technical indicators and strategies helps create bots that can generate profits.
Kucoin provides an in-house service. It is free to use and does not incur any extra charges for the GRID bot. You can learn more from our article on Kucoin Trading Bot from here.
Best Platform for Coinbase Trading BotCoinrule is the best Bittrex trading bot for bitcoin trading as well as trading other leading cryptocurrencies. Moreover, it provides a basic, free subscription, meaning the Bittrex bot is free to use. You get 2 live rules and 2 demo rules with it.
Best crypto arbitrage botsPionex provides the best cryptocurrency arbitrage bots, which exploit the volatile crypto market and profit the users. We have already pointed out that you can generate a whopping APR in the range of ~15%-50% with this crypto arbitrage bot at a meagre rate. What is more, is that you can avail yourself bitcoin arbitrage bot for free!
Best free crypto trading botsSo, finally, the question is whether or not to use automated crypto trading bots? You can definitely use a bot, but it will not give you decent results if you fail to configure it properly. Therefore, thorough research is required before this automation. There are still suggestions on when you should and when you shouldn’t.
Frequently Asked Questions Do bots really work?There is a mixed response among the community to this question. Some people have traded with bots and earned a profit, while others have lost money. The correct answer is that bots really do work when you have backtested your strategies and made sure that the math adds up.
Are crypto trading bots profitable?It ultimately depends on the strategies and technical indicators used. You need to also keep in mind that different strategies work for various movements in the markets. Therefore it is advisable to understand things before jumping right into them.
How can you create a crypto trading bot yourself?The creation of bots is more or less the same around every platform, and you need to follow the steps below to achieve it. – Select the exchange and connect to it via APIs. – Choose a strategy and device rules for it either by drag/drop or with a code. – Always backtest your strategies. Observe the result of your newly created bot on historical data and mark the results. – Deploy and monitor: Once your bot gives satisfactory results, deploy the bot and monitor its performance.
How to select a Crypto Trading Bot Software?While selecting a trading bot, make sure you keep the following in mind. – The exchange you want the bot for. – Coding skills required or not. – Your budget for deploying the bot. – Do check out the sites and links for bots providers. Unfortunately, there are many scammers who take advantage of people with not much knowledge about crypto bots.
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