These are software programmes that interact with bitcoin exchanges to analyse trading data and then use this information to place buy or sell orders on behalf of the user. The bots act on a predetermined and pre-programmed set of rules to monitor activity in the markets. Bots may come with trading strategies ready installed, but the user can also customise the bot according to their preferences. There are now many bitcoin trading bots available, some for free and some in exchange for a subscription fee. In this article, we have brought together 11 of the best bitcoin trading bots. We also look at some of the advantages and disadvantages of using a bot and explain what to look for when choosing a programme. With its simple, intuitive design, Coinrule is a good choice for those who are new to bitcoin trading as well as more advanced traders. Users don’t need to know any code to set their trading rules. Coinrule is web-based and works across several cryptocurrencies as well as supporting some of the most widely-used exchanges, such as BitMex and Coinbase Pro.
Gunbot ONE is a free license with access to one strategy on one exchange, meant as an introduction to the software. Gunbot has been around the longest and this directly translates itself in being the most advanced trading bot as well. This bot consistently receives new updates based on what the community wants. It doesn’t matter what indicators you want to use, or which strategy you want to build, with Gunbot you have the highest chance of achieving your desired goal. Paper trading, market making, grid trading, backtesting, arbitrage, Gunbot has it all. This bot is accessible for beginners as well. Every new customer goes through ‘GB school’ where you are guided through a range of easy-to- follow videos on how to set up your bot. This in combination with profitable pre-set strategies, high-quality support and a very friendly & helpful community makes Gunbot a great choice for newbies.
Another cloud-based bot, Cryptohopper is easy to set up and start trading with a range of cryptocurrencies. One notable feature is the ability to integrate with professional traders and trade in line with their trading signals. More experienced users can programme the bot according to their own strategy. Cryptohopper works with most of the popular exchanges.
Bitsgap is an altcoin trading robot that the creators describe as an ‘all-in-one trading automation platform for Bitcoin and other Cryptocurrencies’. Investing in Bitsgap means getting access to the automated algorithms of the robot, but also means you can have a platform that is designed to work with more than 15 of the most popular crypto exchanges, including Binance, Kraken and Coinbase. The Bitsgap Bot allows traders to use predefined strategies or simply create their own algorithms. You do not need to download any software – the Bot is cloud-based, with safety and security in mind. The Trading Terminal includes more than 100 of the most popular indicators and customizable chart types (including the fast TradingView chart), and it allows you to make both basic and advanced order types including stop loss, take profit and even shadow orders. Included with the Bitsgap Bot and Trading Terminal is a simple and easy-to-use dashboard that pulls together all your trades and balances across exchanges so you can keep an eye on performance. It also allows you to track and monitor 1,800+ cryptocurrencies, and there are no limits to your use of the portfolio. As with many trading platforms, there is a Demo mode, where you can practice different strategies without risking your finances. The Demo account is funded with 1 BTC and 10,000 USDT so you can try the Bot in different ways to see what works for you. The Basic account ($29/month) gives you two active trading bots, as well as grid orders and unlimited smart bots. The Advanced account ($69/month) has the same features as the Basic, but you can use five active bots, and it also includes futures bots and trailing up and down orders for bots. The Pro account ($149/month) has the same features as the Advanced, but you can use 20 active bots and add take profit orders for your bots. You can choose to pay for your Bitsgap access using either debit or credit cards, PayPal or even one of 50 altcoins including BTC and Ethereum. Additionally, if you have any problems customer support is available via email or on live chat.
To work correctly, an EA needs to be on all the time, so there are any problems with the internet connection or the terminal goes offline, you could lose opportunities and money. Offering ultra-low latency, as little as 1 millisecond, with no sharing of resources and a 100% uptime guarantee. There are datacentres across the world that you can access through a Remote Desktop – you just need internet connection. There are three pricing points for this service, and the only real difference is the amount of RAM and SSD that you get for your money. Starting from just £26.31 per month for 1 GB RAM, 1 CPU (Core), and 80 GB SSD, this is a service that can ensure the best performance of your robots and algorithms. There is a way to get the mid-level package for free – through your broker. All you need to do is deposit at least the minimum and trade the monthly required volume – and there is no cost for your VPS. If you aren’t making the monthly volume, then you will only pay for the missing amount. The ForexVPS also has a checker that you can use to test the latency of your broker.
This is another cloud-based trading bot and a relatively new entrant to the market. With no limits on the cryptocurrencies you can trade, Zignaly offers a high level of freedom. Another attractive feature is the ability to follow professional traders and integrate their analysis of market fluctuations. The bot only supports Binance, KuCoin, BitMEX and AscendEX at present but developers promise that other exchanges will follow soon. Zignaly prides itself on its transparency and users can easily communicate with the developers.
WunderTrading is a cloud-based platform that allows you to start trading and investing in cryptocurrency seamlessly. Users can copy trade the best crypto traders with transparent track records, trade themselves using Wunderbit’s advanced trading terminal or create fully automated trading bots using TradingView. It is possible to manage portfolios of multiple crypto exchange accounts at the same time using WunderTrading – without needing to execute separate trades on each account – and use the full spectrum of trading features like simultaneous take-profit and stop-loss targets, swing trade, trailing stop, multiple entries for bots and many more. WunderTrading supports major crypto exchanges: Binance, FTX, Bitmex, Bybit, Kucoin, Kraken, OKEX, Deribit.
Shrimpy was created for traders who can’t afford the more expensive bots, so aims to offer a good range of free services. The main feature is Shrimpy’s built-in auto trade algorithm. Other tools include backtesting to compare your strategy with historical results and social trading, which allows the user to follow and copy other traders on the platform. The bot supports some of the main exchanges, including Kraken and Binance.
This cloud-based bot has an intuitive interface and a wide range of tools. Its key feature is the ability to backtest strategies on the portfolios of other traders. This allows you to learn from the successes of the best traders on the platform and incorporate their approach into your own strategy. 3Commas works on a range of exchanges, including Bittrex, KuCoin and Binance and can trade multiple cryptocurrencies simultaneously.
This cloud-based bot offers a marketplace where users can buy and sell trading strategies, along with backtesting tools. It also provides text and email updates on the market throughout the day and is supported in most of the major exchanges such as Coinbase and Bitstamp. Cryptotrader works best for users with some knowledge of coding, although less experienced users can access a variety of free or paid for strategies.
Trality is the platform for anyone to create and invest through automated crypto trading bots. Creators can build the sophisticated bots using two state-of-the-art tools:
Trality Rule Builder – A simple yet powerful drag-and-drop UI to develop trading bots with the help of pre-defined strategies and technical indicators. No programming skills are required to use the Trality Rule Builder, making this tool suitable for both beginners and advanced traders. Trality Code Editor – A powerful in-browser console to code bots using Python. It includes all necessary libraries and technical indicators needed to craft the perfect algorithm.
The platform is fully cloud-based, meaning that your bots will run 24/7, has a blazing-fast backtesting tool and allows live trading as well as paper trading on the most popular exchanges connected via API.
TradeSanta is an automated trading platform. Its distinguishable feature is a powerful yet easy-to-use interface. Traders can set up bots from templates or from scratch, powering them up with advanced tools such as stop loss or trailing take profit. TradeSanta incorporates several trading strategies. On top of that, it offers a manual trading terminal, virtual trading bots and a solution to buy or sell big amounts of currency. TradeSanta supports major exchanges, including Binance, Huobi, Okex and HitBTC.
This can make bitcoin and other cryptocurrencies very profitable when traded wisely but also increases the risk of significant losses. A bitcoin trading bot can help to mitigate some of these risk factors. Unlike humans, bots will only make trades based on the data and trends available, so emotions and impulses are eliminated from the decision-making process. Bots can also operate around the clock, so the user can continue trading even while they are 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 execute trades across multiple exchanges and multiple cryptocurrencies.
What Are the Pros and Cons of Using a Bitcoin Trading Bot?
It is important to remember that a trading bot is not a silver bullet. The right bot used effectively may help to increase your profits but there are also several drawbacks and risks to consider before deciding to install a bitcoin trading bot. If your bot keeps going offline or suffers from other glitches, you will miss out on opportunities. Check its reliability by reading reviews from other users.
Security
As mentioned above, hackers target trading bots and exchanges so it’s crucial to ensure that your bot is as secure as possible. Look for one that has a good track record for security. Check that the team behind the bot is credible and legitimate and that there is an active community of satisfied users.
Ease of Use
Most users want a bot that will make trading easier for them, so look for one with an intuitive interface that suits your level of expertise. You should also check the level of customer support, how updates are rolled out and whether bugs are solved in an efficient and timely manner. It is also important to find a bot that best aligns with your trading strategy and to check how much customisation will be required.
Profitability
A bot is only effective if it is consistently achieving profits for its users. Before investing in a bot, you should read reviews to assess its success rate.
Price
Some bots are available for free, while others will come with a significant price tag. Generally speaking, a paid-for bot offers superior features and a higher level of service, but you should weigh up what you are getting for your money and whether it is worth the investment before making a decision. When choosing a trading bot, you should consider reviews from other users, security features, customer support, usability, profit-making potential and price. Highly regarded trading bots include Coinrule, Cryptohopper and Zignaly. When looking at the different options, it is important to consider user reviews, security features, availability of customer support, ease of use, the potential for making a profit and the price, including one-off costs and monthly subscription fees. 3Commas, Shrimpy and CryptoTrader are good options to consider if you want to start using an automated crypto trading bot. A bitcoin trading bot works quickly and efficiently around the clock, making trades on your behalf based on the relevant trends and data. Using a bot can also help to reduce the risk of emotional trading. If you decide to automate bitcoin trading by using a bot, remember that it will need to be monitored. You should also research how to use your chosen bot and minimize any associated security risks. Make a list of the different exchanges that you want your crypto trading bot to work with, then create accounts on each of the exchanges. Decide on your bot trading strategy and the type of data that you want your bot to work on; for example, past trends or market analysis. You will need to work closely with a development team to bring your crypto trading bot to life. Once coding has been completed, you will need to test your bot before using it. This will involve checking the bot works as it should and making sure there are no bugs. Once you are sure that it works, you can fine-tune its performance and optimize the parameters. Get £5 in Bitcoin after your first trade on Coinbase. Terms Apply. Disclaimer: After you make a crypto purchase, BTC will be added to your portfolio. Limited time offer. Offer available to new users only. Offer not available to new users who were referred to Coinbase through the Referral Program or who have previously opened an account using different contact information. Coinbase may update the conditions for eligibility at any time. With so many bots now available, it is easier than ever to find the tools you need to automate your trading according to your personal preferences and level of experience. WikiJob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.
