The Best Bitcoin Trading Bots In 2021
The 11 Best Bitcoin Trading Bots In 2021
As the bitcoin marketplace has grown in popularity, so has the use of bitcoin trading robots .
All these are applications programmes that socialize with bitcoin trades to reevaluate trading data and then use this info to place buy or sell orders on behalf of their consumer.
The bots act on a predetermined and pre-programmed set of rules to monitor activity in the markets.
Bots may come with trading approaches ready installed, however, the user can also customise the bot according to their preferences.
There are now many bitcoin trading bots available, some free of charge and some in exchange for a subscription fee.
In this guide, we have brought together 11 of the best bitcoin trading robots .
We also take a look at a few of the benefits and disadvantages of using a bot and describe what to search for when choosing a programme.
Why You Should Consider Using a Bitcoin Trading Bot
The cryptocurrency market is known for being highly volatile. Additionally, it never closes.
This can make bitcoin and other cryptocurrencies very rewarding when traded wisely but also raises the chance of considerable losses.
A bitcoin trading bot can help to mitigate some of these risk factors.
Unlike individuals, bots will only make transactions based on the data and trends readily available, so instincts and emotions are removed from the decision-making procedure.
Bots can also operate around the clock, so the consumer may continue trading even while they're asleep or otherwise occupied.
Trading bots also have the advantage of being able to work faster and more efficiently than a human trading manually.
When specified correctly, they can analyse data and implement trades across multiple trades and multiple cryptocurrencies.
What Are the Pros and Cons of Using a Bitcoin Trading Bot?
It is important to keep in mind that a trading bot isn't a silver bullet.
The right bot used efficiently may help to raise your profits but in addition, there are a number of drawbacks and risks to consider before choosing to install a bitcoin trading bot.
Things to Consider When Choosing a Bitcoin Trading Bot
One of the important attractions of a bot is the way it can continue trading round the clock.
If your bot keeps going offline or suffers from other glitches, then you may miss out on chances.
Check its reliability by reading reviews from other users.
As mentioned previously, hackers aim trading bots and trades so it's crucial to ensure that your bot is as secure as you can.
Look for one that has a good track record for safety.
Check the staff supporting the bot is credible and legitimate and that there's an active community of users that are satisfied.
Ease of Use
Most users want a bot that will make trading easier for them, so search for you with an intuitive interface that suits your level of expertise.
It's also advisable to check the amount of customer support, how upgrades are rolled out and if bugs are resolved in an efficient and timely manner.
It is also essential to find a bot that most aligns with your trading plan and also to assess how much customisation will be required.
A bot is only effective if it's consistently achieving profits for its own users.
Prior to investing in a bot, you should read reviews to assess its success rate.
Some bots are offered for free, while some will come with a significant price tag.
Broadly , a paid-for bot provides superior features and a greater degree of support, but you should weigh up what you're getting for your money and whether it's worth the investment prior to making a decision.
The 11 Best Bitcoin Trading Bots 2021
Fee: Free using a starter account or from $29.99 a month
With its simple, intuitive design, Coinrule is a good selection for those who are new to bitcoin trading as well as more advanced traders.
Users do not need to know any code to set their trading principles.
Coinrule is web-based and works across several cryptocurrencies in addition to supporting a number of the most widely-used exchanges, such as BitMex and Coinbase Pro.
Fee: Starting from $19.99 per month
Another cloud-based bot, Cryptohopper isn't difficult to set up and start trading with a variety of cryptocurrencies.
One notable feature is the ability to integrate with professional traders and trade in accord with their trading signs.
More experienced users may programme the bot according to their own strategy.
Cryptohopper functions with the majority of the markets that are popular.
Fee: $15.99 per month
This is just another cloud-based trading bot plus also a relatively new entrant to the market.
With no limitations on the cryptocurrencies you are able to trade, Zignaly offers a high degree of freedom.
Another appealing feature is the ability to follow professional traders and integrate their analysis of market fluctuations.
The bot only supports Binance and KuCoin at present but developers promise that additional exchanges will follow soon.
Zignaly prides itself upon its own transparency and users can quickly communicate with the developers, in addition to taking advantage of a 30-day free trial.
Fee: A free package features access to portfolio monitoring features. Professional packages start from $13 per month.
Shrimpy was made for dealers that can't afford the pricier bots, so aims to supply a good selection of free services.
The principal feature is Shrimpy's built-in automobile trade algorithm.
Other resources include backtesting to evaluate your strategy with historical outcome and social trading, which allows the user to trace along with copy different dealers on the platform.
The bot supports a number of the primary exchanges, such as Kraken and Binance.
Fee: Starting from $22 a month
This cloud-based bot has an intuitive interface and a broad range of tools.
Its key feature is the capability to backtest plans on the portfolios of different dealers. This allows you to learn from the successes of their best traders on the stage and incorporate their approach into your own strategy.
3Commas works on a range of exchanges, including Bittrex, KuCoin and Binance and can trade a number of cryptocurrencies simultaneously.
Fee: Starting from approximately 0.073 BTC (bitcoin) for three weeks
This cloud-based bot supplies a marketplace where users can buy and market trading approaches, together with backtesting tools.
Additionally, it provides text and email updates on the marketplace throughout the day and is encouraged in most of the major exchanges like Coinbase and Bitstamp.
Crypto Trader works great for users with some knowledge of communicating, but less experienced users can access a variety of free or paid for approaches.
Fee: The beginning plan is absolutely free and is not limited by time. It covers the entire selection of attributes Trality provides. Paid plans start from $9.99 per month.
Trality is the platform for anyone to create and invest through automatic crypto trading bots. Creators can build the sophisticated bots using two state-of-the-art tools:
The platform is totally cloud-based, meaning your bots will run 24/7, has a blazing-fast backtesting instrument and enables live trading in addition to paper trading about the most well-known exchanges connected via API.
Fee: Starting at 0.01 BTC for a life licence
Gunbot has to be downloaded onto the user's device and comes with several built-in approaches. These may also be customised according to the user's trading preferences.
Gunbot is called a highly flexible and efficient trading bot, offering good value for the money.
It may be used to trade with a variety of cryptocurrencies and supports most of the large exchanges, including KuCan, Kraken and Bitfinex.
It is relatively complicated to use, so is ideal for people who have some experience of trading with bots.
Fee: Starting from 0.073 BTC for three months
Haasbot is conducted on the cloud so, like other cloud-based bots, can keep on operating even when the user's pc is switched off.
It includes a pre-configured strategy but may also be customised.
One of its key features is the ability to get a number of robots which can trade with various currencies and on different exchanges in the exact same time.
This bot requires more input in the dealer than some of the others available on the industry so is more suited to those with a fantastic understanding of the bitcoin market.
Zenbot is an open-source trading bot, so the code is readily available for traders to download and modify for free.
As there isn't any user interface, it will require technical abilities, but it provides access to ready-made approaches in addition to attributes such as paper trading -- trading which enables users to try out strategies in real time.
Zenbot can manage high-frequency trading also supports many cryptocurrencies along with bitcoin.
Fee: Beginning from $14/month
TradeSanta is an automated trading platform. Its distinguishable characteristic is a powerful yet easy to use interface.
Traders may set up bots from templates or from scratch, powering up them with advanced tools like stop loss or tracking take profit.
TradeSanta incorporates several trading approaches. In addition to that, it offers a manual trading terminal, virtual trading bots and a solution to buy or sell huge sums of money.
TradeSanta supports major exchanges, including Binance, Huobi, Okex and HitBTC.
A bitcoin trading bot can never completely replace an individual dealer however, used correctly, it can decrease some of the risks and help you to exchange more efficiently and effectively.
With So many bots now available, it's easier than ever to find the tools that you need to automate your trading according to your own preferences and level of experience.