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The year behind us was turbulent, but cryptocurrencies are here to stay. Automated crypto trading is carving out a niche for itself in the crypto universe and for those traders who are astute in running these automated trading bots they are proving to be a real trump card. There is a lot of money to be made but the learning curve of technical analysis, trading charts and whatnot is very steep. Beginners will have tough time sifting through all the knowledge they will find online.
But before you start doing that, there is another possible solution to this problem. While you learn the ins and outs of crypto trading, you can still make money by letting bitcoin trading bots do the work for you.
Well, a trading bot is nothing else but a specialized software designed to analyze trading data of the cryptocurrency market. Once you buy yourself one such bot, you will need to customize it to your needs.
Then the software analyzes the market on your behalf and makes buy and sell orders on exchange, all hands off and automatically.
In this article we go through an extensive list of the best Bitcoin trading bots available currently on the market. Some of them are free, most of them are paid and even expensive. With the many automated crypto trading softwares available, selecting the best cryptocurrency trading bot available can be a daunting task for a newcomer to the industry. It is important that you are aware of some factors you need to consider when making your selection.
This criteria tops the list because, as with any online business, trust is a key element of success. The company that created the trading bot should be a company you can trust. Most of the companies on our list have been in the industry for some time and have solid reputation online with a large pool of satisfied customers who talk positively about their service.
Ties into the above criteria — why would you deal with a shady company? We made sure to check the legitimacy of the teams behind the bots, their social media presence, if they are actual people or some anonymous guys.
Because, no matter how good is the bitcoin trading software, if the team behind it is questionable, it is better you avoid it. In addition to transparency and reliability, you should also emphasize the importance to the profitability of the bitcoin bot. It is pointless if a company is trustworthy, but their product does not offer you the maximum possible return on investment.
Of course, crypto market is volatile, but a good trading robot can still make you a good profit. Actually, with a good strategy and trading plan, volatility can be your best friend. To determine the overall experience, we went one step further and explored the additional features that each of the automated trading platforms offers, including buil-in trading strategies and ability to customize the bot to your needs. To be honest, tech savvy geeks and IT gurus are not the only people interested in bitcoin trading.
All listed trading bots are very easy to use and are suitable for beginners but also more experienced bitcoin traders. Bitcoin is a unhackable crypto currency. However, the ecosystem built around it is very prone to hacks and is often targeted by top-notch hackers.
For this reason, it is mandatory that all bitcoin bots we reviewed here had at least standard security measures implemented, a plus is when they went beyond that and hardened their software with advanced security tech. Cryptohopper is among bots what Binance is among exchanges: relatively new player with extremely rapid pace of development and growth of popularity.
This growth happens for number of reasons, some of them being:. Firstly, they are the first cloud-based cryptocurrency bot on the market, i. Their bot is also very newbie-friendly, as they are the only trading bot that includes a feature of external signalers, so inexperienced traders can trade on autopilot by simply copying the expertise of these signalers.
More experienced traders can take a manual approach by configuring their bitcoin bot based on several technical indicators and strategies.
In addition, Cryptohopper offers backtesting, trailing stop loss including features that allow your bot to sell at a profit only , the ability to trade across multiple exchanges, and a generally enjoyable user interface.
Most of the crypto trading bots are perfectly capable of executing your orders they way you have configured them. However, in a market as turbulent and unpredictable as the crypto market, you need the automated trading program to be prepared to adapt to the sudden changes in market conditions. This is where a smart trading bot like the 3Commas trading bot comes into play.
You might think that no trading bot can be intelligent enough to adapt to rapidly changing market conditions. However, the 3Commas bot has a unique feature known as trailing loss and trailing profit.
If you use some other trading bot, you can set a fixed stop losses to avoid losing your profit or suffering too much loss. However, if the coin continues to surge after the bot has sold your position, there is no turning back. You could essentially miss the mooning of some coin. The trailing feature of the 3Commas bot helps to prevent just that. The bot analyses market conditions and makes sure that your coins are sold at the optimal time.
Apart from this unique set of features, 3Commas bot offers all the features you can see in a regular trading bot, such as stop-loss, take-profit, automatic trading, etc. Zignaly is a trading platform with crypto currency trading bot that allows you to trade automatically with the help of third-party crypto signal providers. It is incredibly easy to use and can be used as a passive income generator.
With Zignaly, you can easily connect to a TradingView account and use it with your favorite indicators. Or you can use the Zignaly trading terminal to create your complete strategy at one go.
Because Zignaly is still pre-launch, the number of exchanges it works with is limited. According to the development team, KuCoin, Coinbase Pro, Poloniex and Bittrex will be included after the release of the full version. The company also plans to offer its customers unlimited currency pairs at no extra cost.
The Zignaly bot is also proud of its transparency. The official Zignaly cryptocurrency bot website provides detailed information about the founders and the rest of the team, as well as their various social media profiles, so that users can contact them directly. When the BTC-E exchange was closed in , one of the most popular crypto trading services disappeared from the Internet.
This was the leonArdo trading bot. However, it resurrected itself in a form of a new brand — Margin cryptocurrency trading bot. Leonardo bot used to be very expensive — half a bitcoin for access to it.
However, since the bot was purchased by Margin, the price has dropped to the joy of numerous users. If you want to trade with more funds, you have to upgrade the plan to a higher priced package. There are online tutorials included in each plan. This helps users understand how the different strategies work and how they are useful to help them make profits. This is one of the older bots that offers many built-in strategies and technical indicators like Bollinger Band, Ping Pong and Step Gain.
The bot has a few different pricing plans, that range from 0. For an additional fee, you can buy a lifetime licens. Gunbot is integrated with several crypto currency exchanges, including Poloniex, Kraken, Bittrex and Cryptopia. The features that GunBot offers in its Starter Edition are worth the price. The next two levels offer a wealth of features, with the Pro Edition adding backtesting functionality and cryptosight as standard features. It is estimated that there are more than 6, users trading on GunBot daily, and there are a plenty of positive reviews from those users about this bitcoin bot.
It can be downloaded from the GitHub platform and there are literally hundreds of videos on YouTube how to set it up and use it. Gekko is open source software that is constantly being developed by talented developers around the world.
This trading bot supports most cryptocurrency exchanges, including Bitstamp, Poloniex and Bitfinex. The software is equipped with the most important trading functions. These functions include a web interface designed to monitor your trading strategies and data. In addition, the bot can run on some backtesting data and help you visualize trading results.
Trade while you sleep with two of the cryptocurrency bots on the market - Cryptohopper or Tradesanta. Gekko bot is designed to run on most popular operating platforms such as MacOs, Linux and Windows. The bot can also keep you up to date and notified via telegram, email and other social platforms.
This is another free and open source bitcoin trading bot. It is available for use on all major operating systems and, in contrast to Gekko, it can use the arbitrage possibilities and execute the high-frequency trades.
In addition and this is a big plus for this trading bot the software can execute several cryptocurrency transactions at the same time. The developers of this trading bot claim that they are still improving it and that other major exchanges will be added in the near future. Haasbot was founded in by Haasonline and in these 5 years became an established name in the world of automated bitcoin trading.
Despite Haasbot being probably the most complete trading bot currently available, doing a lot of work with relatively little effort for the user, it is quite expensive with costs between 0. The more you decide to spend, the more bots you have on the platform. This is by far one of the most popular bitcoin trading bots among traders. It is also cloud-based, meaning it does not require installation on a physical computer. It should be noted that the Crypto Trader is equipped with a strategy market feature.
This feature allows you to trade strategies with other traders. Another cool feature is a backtesting tool that allows users to test trading strategies against backtesting data and current market conditions. All of the bot mentioned before and after Autonio have one thing in common: they are typical centralized trading bots, a regular software.
The entire infrastructure is based on a distributed platform, so there is not a single entity that controls all its operations. Users are free to check the transparency of the program, and no entity can be held responsible for its eventual errors. The Autonio Crypto Currency Trading Bot, which is marketed to both newbie and professional traders, has integrated features to generate the various trading signals based on the built-in trading strategies. There is full access to the technical indicators and traders can make the most of them through the Autonio trading bot.
There is an Autonio Marketplace where users can see how other users share different trading strategies and algorithms that have helped them make profits. If you are not familiar with the process of setting up your own algorithm with the bot, you can select one on the marketplace and start trading from day one. There is an internal token called NIO that is used by the Autonio trading bot.
Summary of the Best Bitcoin Trading Bots
Margin is a Bitcoin trading platform that incorporates a comprehensive range of features including visual trading and a configurable GUI that enable its users to optimize their Bitcoin trading activities. The platform allows anyone to use automated trading strategies that can be employed around the clock, remove emotion from their trading, and to customize and automate their strategies via the use of a wide range of trading bots. The platform is fully downloadable and works via API connections to over 15 leading cryptocurrency exchanges including BinanceGemini, Kraken, bitcoin trading bots 2020 KuCoin. To get started, you can select a license plan, create an API key pair on your exchange account, download Margin, and then select your preferred exchange and input your full API key and secret to login. Margin was formerly known as the Leonardo automated crypto trading bot and the team state that they have been powering Bitcoin trades since May In addition to providing a robust Bitcoin trading platform, the Margin team are also highly professional, and transparent in nature with their information and company structure bitcoin trading bots 2020 available to view online. As can be gathered from their website address the project is based in Germany, and the company retains a business address at Goldstrasse 9, Bielefeld, Germany.
Best Automated Trading Bots For Crypto Currency (How To Make Money In 2020)
Conclusion – Best Crypto Trading Bots
By setting bitcoin trading bots 2020 the bots, users can set their thresholds to fit bitcoin trading bots 2020 their risk profile. Gunbot is a highly comprehensive Bitcoin trading bot provider that is best suited for those of you with experience in coding. It is easily recognizable because of its good GUI and a visual editor. The provider allows you to use your bot at 13 leading cryptocurrency exchanges, which includes the likes of Coinbase Pro, Binance, and even BitMEX. I would like to see this bot in the next review. You only need to follow this simple four-step guide to make money with our crypto trading. Yes, they really do work. Using their backtesting tool, you can see how your trading strategy would work over different market condition. Gekko is a Bitcoin trading bot and backtesting platform that supports 18 different Bitcoin exchanges including Bitfinex, Bitstamp and Poloniex. Dollar-cost averaging has been utilized in the traditional stock market arena for decades on-end. Users are free to check the transparency of the program, and no entity can be held responsible for its eventual errors. In the case of the Bitcoin trading sphere, such a strategy could be useful when the markets on a downward trend. Zenbot is a free cryptocurrency trading bot with multiple supported cryptocurrencies.