The Best Crypto Trading Bots Top 10 Free and Paid Since 2022

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Crypto trading bots are automated trading strategy software that helps you buy and sell cryptocurrencies based on pre-set and defined time function. The main goal of this software is to increase revenue and reduce losses and risks. These applications enable you to manage all crypto exchange accounts in one place. Many such programs allow you to trade for tokens like Gala, Glimmer, GMT and traditional coins like Ethereum, Litecoin, Bitcoin (BTC), among others.

Following is a useful (yet not exhaustive) list of The Best Crypto Trading Bots Free and Paid Since 2022.

Best Bitcoin & Automated Crypto Trading Bots / Robots Platform

NameTrading Bot DetailsExchangeFree TrialLink
πŸ‘ PionexGrid Bot, Arbitrage Bot, DCA Bot, and 12 others.Binance, Huobi global, PionexFree – Trading charges applyLearn More
πŸ‘ CryptohopperArbitrage,Copy Trading, and 10 moreHitBTC, Okex, KuCoin, Bitvavo, Bitpanda Pro, Huobi, Poloniex, Kraken, Bittrex, Bitfinex, Coinbase Pro, Binance30 daysLearn More
πŸ‘ BitsgapHigh Frequency Algorithm TradingBinance, OKEX, Bitfinex, HitBTC, Bittrex, Huobi, Exmo, Kucoin, CEX.IO, Kraken, Poloniex, Livecoin, Coinbene, Coinex, Gate.io7 DaysLearn More
Trality120+ RulesBinance, Kraken, Bitpanda, Coinbase Pro7 DaysLearn More
Coinrule150+ RulesBinance, HitBTC, Coinbase Pro, Okex, Bitstamp, Bittrex, Poloniex, Kraken, BitMEX, Bitfinex, Bitpanda pro, Liquid, Binance USUnlimited for a basic accountLearn More

1) Pionex

Best for Crypto Trading for Beginners and Advanced Users

First we set the stage with Pionex the world’s first premium crypto exchange with 12 Free trading bots. Crypto traders can easily automate their trades around the clock 24/7 without having to constantly be checking the markets. It simply combines the liquidity from Binance and Huobi Global and is known by professional traders as one of the largest Binance brokers.

Pionex

Features:



  • Pionex will give you 16 free trading bots if you're a retail investor.
  • The trading fee is among the lowest compared to most other Binance exchanges. You will pay trading fee of 0.05% either side
  • Pionex offers the ease of Grid Trading Bot which allows users to easily snag low buys and high sell in any desired price range.
  • Crypto trader also have the option of what experienced traders like to call leveraged Grid Bots providing up to 5x trading leverage.
  • Spot-Futures Arbitrage bot is for retail investors seeking passive income with low risk. The estimated return is around 15~50% APR.
  • Pionex provides the use of Smart Trade terminal which allows traders to set up stop-loss, take profit, trailing in any amount of trades.
  • This crypto trading platform is U.S. FinCEN’s MSB (Money Services Business) License approved

Pros:

  • Great precision in timing the market upping the advantage of buying low and selling high within your desired price range.
  • Gives traders the added benefit of Spot-Futures Arbitrage helping retail investors to make a determined income at low risk.
  • Traders will also benefit from the ease of making a deposit or withdrawal from a bank account and trade with any type of fiat currency

Cons:

  • If you're a stickler for custom trading strategies, you will not be able to take advantage of such.

Types of Bots: Grid Trading Bot, Arbitrage Bot, Martingale Bot, Spot-Futures Arbitrage Bot, Rebalancing Bot, DCA, etc.

Price: Free

Mobile Apps: iOS & Android

Exchanges: Binance, Huobi global, Pionex

More Information >>


2) Cryptohopper

The best crypto trading bot for copy trading options for investors and Fixed Fee Option

CryptohopperΒ is one of the best-automated trading bots giving traders the ability to manage a number of crypto exchange accounts in one place. The system allows you to trade for BTC, Litecoin, Ethereum, as well as other top crypto coins and tokens.

Cryptohopper

Features:

  • This easy to navigate trading robot allows you to create your own technical analysis.
  • Easy to understand for the basic user who can easily get strategies and bot templates.
  • Offers the highest level of protection of your accounts guaranteed by secured trading protocols.
  • This system offers the peace of mind as this is a trading bot that is big on data privacy.
  • One of the easy-to-use and optimal user-friendly crypto trading dashboard interface.
  • Manages and delivers real time performance reports for all your trading portfolios.
  • Machine A.I trading with algorithms support EMA, RSI, BB, and other common signals/indicators.
  • Cryptohopper is a very advanced strategy designer with 30+ Indicators and 90+ Candle Patterns

Pros:

  • A trading app that offers an easy and intuitive setup process. No credit cards details required to start
  • Round the clock 24/7 trading bot with its settings and services deployed almost entirely in the cloud.
  • Provides you with the option to Paper Trade to check your strategy with 99.9999% financial security
  • Allows back-testing of trading data to determine if you're setting up a sound business strategy

Cons:

A number of basic level traders cited full technical support or lack thereof as a limitation.

Free Trial: 30 days

Types of Bots: Mirror Trading, Market-Maker, Arbitrage, AI,

Price: $0 Trading Free. Fixed Monthly Pricing

Mobile Apps: iOS & Android

Exchanges: HitBTC, Okex, KuCoin, Bitvavo, Bitpanda Pro, Huobi, Poloniex, Kraken, Bittrex, Bitfinex, Coinbase Pro, Binance

More Information >>


3) Bitsgap

Bitsgap is the queen of arbitrage trading and best suited arbitrage across multiple crypto exchanges.

BitsgapΒ is definitely among the best crypto trading bots that provides simple and easy management of your crypto assets. The sign up process is easy and the application can overview and deliver an analysis of more than 10,000 crypto pairs. This is designed to detect coin with the shortest potential. You can enable your trading and set up your bot strategy quickly within minutes in a few clicks.

Bitsgap

Features:

  • Your trades can be viewed easily with the use of chart views.
  • Bitsgap offers you the edge with a fully automated trading bot that works limitlessly.
  • You can have trading setup can be tested before before any funds are made available for investing.
  • No need to install anything, this is not a desktop app. It can be utilized with the need to download.
  • All deposits are stored safely on the exchange balance as a much needed security protocol
  • This main focus of this crypto trading software is boost to your trading strategy for maximal profit.
  • Bitsgap delivers over 100 technical trading indicators and 12 chart types for on the spot analysis

Pros:

  • This web app is accessible and is currently being utilized on over twenty-five brokerage exchanges.
  • Practical, Simple and downright easy to use trading bot with a host of much needed functionalities.
  • Offer highly detailed trade-view charts that assesses up to the minute trading bot performances

Cons:

  • A mobile application has not yet been released so we have to work with the web app for now.

Price: $29/month

Free Trial: 7 Days

Types of Bots: Grid Bot, Unlimited Smart orders, Futures bots, Trailing Up & Down for bots, Take Profit for bots

Exchanges: Binance, OKEX, Bitfinex, HitBTC, Bittrex, Huobi, Exmo, Kucoin, CEX.IO, Kraken, Poloniex, Livecoin, Coinbene, Coinex, Gate.io, Bitstamp, Liquid, Gemini, Bit-Z, Yobit, DDEX, Bithump, Bibox, BigOne,

More Information >>


4) Trality

Trality is best for for developers who enjoy building trading apps for the marketplace

Trality is a platform for financial enthusiasts who aim to profit from algorithmic crypto trading without having to give up their 9-5. This state-of-the-art crypto trading utility offers some technologically nifty tools to create highly intricate, super creative algorithms. This is great for an educational, community-driven infrastructure that offers learning and development as a trader.

Trality

Features:

  • Provides an arsenal of trading skills that curate and pre-define intended trading strategies
  • Easily develop and rent out your latest designer bots to and from from experts
  • Beginners can make use of Drag-and-drop graphical interface for building out their solutions
  • Developers benefit from in-browser Python code editor (for advanced traders who know Python)
  • Simple commonality of an ultra-fast back-testing trading module
  • Provides cloud-based minute by minute live-trading. Your algorithms run forever and miss a trade
  • For developers this can also include the use Boolean Logic over 100+ technical indicators

Pros:

  • Bot creators have the option to choose between The Code Editor and The Rule Builder to aid their creations.
  • Highly secured offering developers a secured solution with ETE Trading strategies encrypted.

Cons - A native mobile version of this app available as yet but is in the pipeline.

Free Trial: 7 Days

Price: Free

Types of Bots: Create your own using the Rule Builder

Mobile App - A mobile native app will be released soon

Exchanges: Binance, Kraken, Bitpanda, Coinbase Pro

More Information >>


5) Coinrule

Best for savvy traders who rely on advanced trading indicators and see this as a GOD send

Coinrule is your automated trading platform that provides traders at any skill level the opportunity to trade on Binance, Kraken, Coinbase Pro, and and a host of other exchanges. The Coinrule application offers 150+ time-saving trading strategies templates.

Coinrule

Features:

  • One of the best crypto trading app that offers above par real-time customer service
  • Traders are given the opportunity to balance test rule performance on past data
  • In terms of custom rules for trading, Coinrule is definitely a super ace in the hole
  • Provides their clients with a market indicator platform that helps you to distribute funds smoothly
  • Are you a sucker military-grade encryption? Well this trading gives you just that and more
  • Do you want to test your strategy with robust back-testing data analysis? This option is available
  • Crypto trading fanatics have the opportunity working an app that can trade non-stop 24 hour daily

Pros:

  • Users have the benefit of creating automated trading rules based on the most robust indicators
  • For those who want to level up it offers various plans for an extra level of trading
  • Backed by a professional team of crypto experts with a concrete background in finance technology

Cons:

  • Coinrule has no native mobile application but they are working on it.

Free Trial: Unlimited for basic accounts.

Price: Free

What are the types of Bots available?

Order Types, Conditions and Triggers, Trend Following Technique, and Accumulation Bot. Total 150+ Rules

A mobile app version to made available soon for this trading bot.

Exchanges: Binance, HitBTC, Coinbase Pro, Okex, Bitstamp, Bittrex, Poloniex, Kraken, BitMEX, Bitfinex, Bitpanda pro, Liquid, Binance US

More Information >>


6) 3Commas

3Commas

For advanced traders this is by far one of the best crypto trading bot one could ever dream of.

3CommasΒ sits atop of the heap as one of the best trading bots. Traders will increase their revenue and reduce losses and risks. This application will help you to get Profit with the least effort required, and it enables the creation of strategy using 20+ trading indicators.

Features:

  • Offers Single, Multipair bots
  • This platform enables you to trade 24 hours a day.
  • You can copy the setting of other bots.
  • It allows you to balance your portfolio by maintaining coin ratios.
  • These cryptocurrency margin trading platforms provide deal notifications through mobile apps, browsers, and emails.
  • Help you earn money in Bear, Bull, and Sideways markets
  • Supports Backtesting, Dollar-cost averaging, Signals, Custom TradingView signals, etc.
  • Allows Paper Trading

Pros:

  • You can trade Options on an exchange
  • Advance buy and sell automation in a single window.
  • Trade 24 hours a day with technical indicators.
  • Trustworthy with excellent reviews on Trustpilot

Cons:

  • It can be a bit of a learning curve for newcomers.

Free Trial: 3 Days Access

Price: $14.50

Types of Bots: DCA Bots, Smart Trade, Grid Bot, Trading View, Options Bots, and Crypto-Signals.

Mobile Apps: iOS & Android

Exchanges: Binance DEX, Binance, Binance.us, Bilance Futures, Bitfinex, BitMEX, Bittrex, Bybit, Bitstamp, Coinbase Pro, Gate.io, Cex.io, Exam, Huobi Global, KuCoin, HitBTC, Kraken, Poloniex, OKEx, YoBit

More Information >>


7) WunderTrading

WunderTrading is a cloud-based cryptocurrency trading and investing platform with an easy-to-use interface. You may mimic top crypto traders with a good track record, trade using the advanced trading interface, or utilize TradingView to create a fully automated trading bot.

WunderTrading offers simple integration with TradingView and has robust Spread-trading interface. It allows users to transform any TradingView script into a fully working cryptocurrency trading bot. You can design and customize any crypto bot in seconds. This system allows you to manage the portfolios of many crypto exchange accounts at the same time. It eliminating the need to perform separate transactions on each API.

Features:

  • Smart Trading Terminal
  • Spread Trading Terminal
  • Copy-Trading
  • DCA bot
  • Crypto Portfolio Tracker
  • Multiple Account Management
  • Multiple Take-Profits
  • Trailing Stop
  • Swing Trade Bots

Pros:

  • Multiple Account Management
  • Easy-to-use interface
  • Advance Trading Features (Spread Trading Terminal)
  • TradingView Strategy automation bots.

Cons:

  • No mobile applications.

Exchanges: Binance, FTX, Bybit, BitMEX, KuCoin, Deribit, Bittrex, Huobi, FTX US, OKX, HitBTC, BitpandaPro, Coinbase PRO, Kraken

More Information >>


8) Quadency

Quadency is a digital asset management application that provides an automated trading solution for institutional and retail traders. It streamlines the process of investing in cryptocurrencies.

Quadency

Features:

  • This app enables you to customize bots with ease.
  • It provides a range of automated tools and advanced TradingView (social network) charting.
  • You can get a good level of customer support.
  • Allows you to trade on Bittrex, Binance, and Kucoin.
  • It offers varieties of trading bots that can be customized with ease.
  • This one of the best trading bots supports automated trading.

Pros:

  • It offers a cryptocurrency trading bot for investors of all levels.
  • You can select pre-built popular strategies, customize them, and go live in minutes.

Cons:

  • Quadency platform does not have a mobile app.

Price: Free

Types of Bots: Accumulator, Bollinger Bands, MACD, Mean Reversion, Multi-level RSI.

Mobile Apps: iOS and Android

Exchanges: AAX, Binance, Bittrex, Kraken, KuCoin, Liquid, OKEx, Binance US, Bitfinex, Coinbase Pro, Gemini, HitBTC, Poloniex

More Information >>


Shrimpy is a social trading platform made for cryptocurrency. This application has automated trading strategies that help you improve performance and reduce risk. It helps you build portfolio strategy, track performance, and monitor the market.

9) Shrimpy

Shrimpy

Features:

  • Your API key is securely encrypted and stored using FIPS (Federal Information Processing Standards) 140-2.
  • It can simplify your portfolio management.
  • Allows you to view the live market price
  • It offers a dashboard that includes statistics about each asset and portfolio performance metrics.

Pros:

  • Easily copy top traders or imitate portfolios of investment funds like Coinbase Ventures, Blockchain Capital, or Binance Labs.
  • Shrimpy automates trades on multiple accounts simultaneously.
  • Automatically track balance changes to hardware and software wallets.

Cons:

  • The trading terminal is not supported

Price: $15 per month.

Types of Bots: Index, Rebalance,Copy Bots

Exchanges: KuCoin, Binance, Binance US, Bittrex, Bittrex Global, Coinbase Pro, Kraken, Poloniex, Gemini, Bitbox, BitMart, Huobi Global, HitBTC, OKEx, Bitstamp, Bitfinex

More Information >>


10) TradeSanta

TradeSanta is one of the best trading bots that enables you to manage your risk easily. This application allows you to choose the strategy that suits your trading style, and it enables you to set your target profit amount and close the deal at the right moment.

TradeSanta

Features:

  • Allows Spot and Futures Trading
  • You can launch trading bots with a short and long strategy with ease.
  • It provides 24/7 support.
  • It allows you to buy or sell a large volume of crypto without hassle.
  • It offers a wide range of pre-set templates.
  • You can track the bot in real time.

Pros:

  • Simple to use crypto trading bot with an intuitive design.
  • It supports most major cryptocurrency exchanges.

Cons:

  • Does not have support for decentralized exchanges.

Free Trial: 5 days

Types of Bots: MACD, RSI, and Bollinger signal.

Price: Free

Mobile Apps: iOS & Android

Exchanges: HitBTC, Binance, Bitfinex, Bittrex, Huobi, BitMEX, OKEx, UPbit

More Information >>

Cryptocurrency Trading Guide: What is a Crypto Trading Bot?

Crypto trading bots are automated software that helps you buy and sell cryptocurrencies at the correct time. The main goal of this software is to increase revenue and reduce losses and risks. These applications enable you to manage all crypto exchange accounts in one place. Many such programs allow you to trade for Ethereum, Litecoin, Bitcoin (BTC), and more with ease.

πŸš€ Which are the Best Free Crypto Trading Bots?

Below are some of the Best Free Crypto Trading Bots or Robots:

  • Pionex β€“ Best for Beginners and Advanced Traders
  • Cryptohopper β€“ Best for Day Trading
  • Bitsgap β€“ All-in-one Trading Automation Platform
  • Trality β€“ Best for Algorithmic Trading
  • Coinrule β€“ Beginner-friendly and Safe
  • 3Commas β€“ Best for Maximize Trading Profits
  • WunderTrading β€“ Trading View Strategy automation bots.
  • Quadency β€“ Best for Managing Crypto Assets

πŸ’₯ Crypto trading bots When to use them?

A well-executed bot can conduct many functions for you like portfolio management, rebalancing, intelligent order routing, data collection, etc.

Here are the points you should exactly improve with trading bots:

  • Repetitive Tasks: Repetitive tasks take a lot of time and effort. An excellent automated Crypto trading bot helps you to virtually copy and paste a specific task to conduct trade with no hassle. One of the good ways where bots can help with repetition is in periodic rebalances.

Just in case you have to conduct hourly rebalances, then you will get two options:

  1. Set the alarm every hour to rebalance your portfolio.
  2. Create a program and trading bot to rebalance the portfolio every hour.
  • Timing: Timing accuracy is important for trading. If you want to sell your currency, it is good to observe the price carefully. Here, the bot can monitor the market and execute a trade at the correct time.
  • Complications can be simplified: Every exchange pair in crypto trading should be carefully determined as per its asset quantity and trading price. The entire route needs to be finished within a specific time and the condition of the market. A wisely chosen trading bot can help you automate complicated and impossible strategies with ease.

Also Check our this linkΒ Best Side Income Hustles for 21st Century

πŸ… How do I pick the best crypto trading bot?

Here are the important points that help you to pick the best crypto trading bot/crypto robot:

  • Free Trial: Many trading bots enable you to trade for free. It is ideal that you try the free Crypto trading bot yourself before purchasing it.
  • Social Trading: It is ideal for developing your trading strategies, but many times you may like the option to follow other traders. A good strategies marketplace can be built within a trading tool of your own choice that is cost-efficient and easy to get Profit.
  • Back-testing: You have to check whether crypto bots have back-dating features or not. It enables you to quickly test trading strategies against historical data so that you can see how your strategy perform under market condition.
  • Indices: Many trading bots provide portfolio crypto automation, and it is essential to check how they have created their indices. A good trading tool must-have information like how coins are sampled and how the market cap is weighted in the index.
  • Cloud-Based or Server Based: Most crypto bots are cloud base, and if you find them convenient, you can go for it. On the other hand, if your bots are not cloud-based and you require to keep your server/ computer running all the time, it is better to avoid such tools.
  • Trading Communities: Trading communities are a good approach for those people who have to get the most out of the trading tool. You need to compare how active the trading communities are on Discord, Telegram, or Reddit.
  • Support & Tutorials: Many crypto traders have developed training modules, videos, blogs, and to educate their users. In case you are new to trading, you can go through such a source to get a better idea of the tool. This will also help you to save valuable time while actually trading currency.
  • Crypto Tax Software Integrations: It is easy to rack up your high number of trades when you trade with crypto bots. In case you do not have the right software, this will make reporting your crypto profit and loss on your taxes challenging. It is crucial to look at the crypto tax software companies which are compatible with your desired Crypto Trading Bot Platform. Having good crypto tax software that supports your crypto trading strategy can make your tax reporting easy.

Do trading bots really work?

It depends on various factors. Most trading bots claim to achieve a high success rate that will work fine. However, sometimes, this will not be appropriate when the market condition is not favorable. Creating a bot based on your trading style and convenience is always better.

Are crypto trading bots profitable?

Trading bots are simply software; therefore, there is no guarantee of profitability. There are also many risks associated with automated platforms and trading bots. You need to understand that trading bots are commonly designed for traders, not investors, and they are also not appropriate for people new to crypto trading.

Are crypto trading bots legal?

Yes, a trading bot is completely legal in cryptocurrency and the stock market (although only certain brokers allow it). Anything that is illegal under normal circumstances is also illegal for cryptocurrency trading.

Also Check: Best Crypto Wallets You Need for Crypto Currency Security

What are the Types of Cryptocurrency Trading Bots?

Here are the important types of best Crypto Trading Bots:

  • Arbitrage: Arbitrage strategy involves simultaneously buying coins on one exchange and selling them on another. It is one of the first strategies crypto traders should utilize to make fast and safe profits.
  • Market Making: The primary benefit of market making is that it helps you to prevent large swings in price. It can involve making both buy and sell limit orders near the current market price. Many market-making bot traders are affiliated with their trading project.
  • Momentum Trading: Momentum Trading or trend following system is ideal for riding a positive momentum wave with assets and selling them when market momentum reverses. The basic idea behind this is the belief that the cost of your asset will increase above its average and then run out of momentum and fall down. In such a situation, buying and selling become crucial.
  • Mean Reversion: Mean Reversion is a type of AI crypto trading bot in which strategy is built on the assumption that if a price of a coin differs from its average, you can revert back to its average. For example, if the price of ZRX falls to 50 cents from an average of $1, many traders may perceive its latest price as low and buy in large quantities.
  • Copy Trading: Copy trading is a trend that enables you to automatically copy the trade of traders. It often involves a leaderboard (gamification elements) and a social community. Many crypto trading bots also enable you to copy other traders with just one mouse click.

How do you file taxes for crypto bot trading?

You can file taxes for crypto arbitrage bot trading by just importing trades from exchanges to your cryptocurrency tax software. Ideally, you are aware of the total number of trades the bot will make. Trading bots having high frequency may allow numerous trades per day.

It can result in tens of thousands of transactions. However, most of the tools can handle such trading on the crypto tax plan.

How to Create a Trading Bot?

Following are the way to create a crypto trading bot:

  • Backtesting: You must backtest your bots against historical data of the market before trading. You should also ensure that your backtest is much realistic as possible. This can be done by considering slippage, latency, and trading fees. You also need to collect high-quality market data by accessing the exchange APIs key.
  • Strategy Implementation: This is the next step in which you have to specify the calculations that help your bot find out when and what to trade. Once you create a strategy, you should backtest it to see how it works.
  • Execution: In this stage, your logic will be converted into an API key request that the crypto exchange can understand. Many bots enable you to simulate your strategy with fake money.
  • Job scheduler: Now, it is time to finally automate your entire process by setting up a job schedular to execute the trading strategy.
  • How to select a Crypto Trading Bot Software?

Here are the essential points to select the best software for crypto trading:

How credible is the team?

In case you are going to trust a bot with your portfolio, then ensure that the team behind it is as qualified and credible as possible. It can be done with a single checklist:

  • Know the work experience level of your team members to Identify their qualifications.
  • Find whether they have maintained a portfolio or not.
  • Know whether bot functionality is perfectly documented or not.
  • Gather information about how they are getting their funds

You have to ensure that the team remains transparent about their development. This way, they can be kept responsible for their actions.

Check your bot is using the strategy that you have to implement:

You should find out which bot will align with your strategy, which is especially important. You have to look over the bot’s website and read the guides and reviews written by other people. Furthermore, you should also know how it can be helpful to configure the bot. If you are not technologically inclined, it does not make any sense to subscribe bot.

Know how your team is providing strong support:

The next thing you need to check is the level of support provided by your development team. This can be done by following the below checklist:

  • Check those organizations have an active community on Reddit, Telegram.
  • The development team should actively communicate with those communities.
  • Ensure that developers are giving solutions to any possible bugs on time.

How expensive is it:

You have to check the pros and cons before actually using it. This will help you to save your time and money. You can also go through the free crypto trading bot services provided by any Crypto Bot Trading Platform and compare them with paid ones.

Check is it possible to adjust the bot according to market conditions:

Bots execute strategies in their own way, so sticking to a particular approach will require to see your bot is running satisfactorily or not. This way, you will not lose your investment due to poor strategy execution.

Finally, check whether it is easy to use or not.

People who are new in crypto trading have to go through the following points:

  • Functionality: Crypto trading bots come with a user-friendly interface that provides detailed analytics. Many bots enable you to set up profits and loss targets and customize your trading strategies.
  • A wide range of tools: This is an important point that helps you to create, analyze, and backtest your portfolio. You can also choose a crypto robot that enables you to copy the strategy of a successful trader.
  • Simulated profit and loss order: Here, you should be able to establish the price at which you have to make a profit or sell to stop losses.
  • Mobile App: Find whether the mobile app of the chosen crypto trading robot is available or not. This will help you to trade at any time.

Pros and Cons of using trading bots

Here are the pros/benefits of using trading bots:

  • Efficiency: Bot can analyze market conditions in more than one cryptocurrency. It is impossible for people who are not good at multitasking as they can only analyze market conditions by going; on the other hand, they are not multitasking.
  • Increased speed: Trading bots helps you to place the order quickly. Delay in cryptocurrency may lead to a loss in its value. Therefore, it is more effective than humans.
  • Running period: It is impossible to always stay in front of your PC and examine your investments. Trading bots, in this case, run 24/7 and therefore do not miss opportunities.

Here are the cons/ disadvantages of using trading bots:

  • Not for inexperienced traders: Cryptocurrency trading requires proper knowledge in using the bots. Changing the configuration of these bots without any experience can lead to massive losses. Therefore, a Binance trade bot is not much helpful for inexperienced users.
  • Requires monitoring: Cryptocurrency trade bots are not useful during high volatility periods. It is because they are not attached to the money, which may lead to a massive loss.
  • Security concerns: Crypto bots execute trades through integration with API. The nature of exchanges and bots can pose some unwanted risks like phishing and losing funds. So, traders need to be very careful while trading cryptocurrency.

Tips to Trade Crypto

Here are our Top Tips:

  • Limit the access of the crypto trading bot to an exchange such that it can only write or sell orders. It does not have API access to withdraw money.
  • You should limit the IP address from which you access the crypto trading bot for an extra layer of security.
  • Ensure there is enough balance in the exchanges like Coinbase, Binance, etc.
  • There is a chance that the exchange itself may be hacked. Only deal with reputed exchanges with solid security features.
  • Remember that Crypto Bots are not a money printing machine, and you will need to constantly tweak the trading bot in sync with the market changes.
  • Install the mobile app of the CyrptoBot to monitor trades and Crypto signals easily.

Best Cryptocurrency Trading Bots for Automated Crypto Trading

NameTrading Bot DetailsExchangeFree TrialLink
πŸ‘ PionexGrid Bot, Arbitrage Bot, DCA Bot, and 12 others.Binance, Huobi global, PionexFree – Trading charges applyLearn More
πŸ‘ CryptohopperArbitrage,Copy Trading, and 10 moreHitBTC, Okex, KuCoin, Bitvavo, Bitpanda Pro, Huobi, Poloniex, Kraken, Bittrex, Bitfinex, Coinbase Pro, Binance30 daysLearn More
πŸ‘ BitsgapHigh Frequency Algorithm TradingBinance, OKEX, Bitfinex, HitBTC, Bittrex, Huobi, Exmo, Kucoin, CEX.IO, Kraken, Poloniex, Livecoin, Coinbene, Coinex, Gate.io7 DaysLearn More
Trality120+ RulesBinance, Kraken, Bitpanda, Coinbase Pro7 DaysLearn More
Coinrule150+ RulesBinance, HitBTC, Coinbase Pro, Okex, Bitstamp, Bittrex, Poloniex, Kraken, BitMEX, Bitfinex, Bitpanda pro, Liquid, Binance USUnlimited for a basic accountLearn More



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