7 Cryptocurrency Trading Bots For Beginners
Trading bots are computer programs configured to complete buy-and-sell orders automatically. These bots are gaining popularity by the day, and among their best features are good profits, security, user-friendliness, speed, and many others. Bots are also independent of decisions based on human emotions.
The upsurge in the number of companies offering trading bot services makes them a perfect item of discussion. The main reason behind the use of trading bots is the crypto market volatility. Since the crypto market is a 24-hour economy, market trends change in seconds. Automated trading allows the crypto traders to react to any changes even when they are away from their trading platforms
As a trader, you might often wonder what bot is the best for use. Keep on reading to know the seven best trading bots as listed below.
Anyone can start using Shrimpy by signing up from the website and connecting their exchange account to Shrimpy. Although it’s a new product in the market, it’s rapidly gaining popularity among new and seasoned traders due to the excellent services.
Shrimpy supports an extensive list of crypto exchanges, along with an endless list of cryptocurrencies. Some of the exchanges supported are Bittrex, KuCoin, Coinbase Pro, Bitmart, Bitstamp, Gemini, Huobi, Bibox, Binance, and Bitfinex.
Shrimpy also comes with the best pricing plans for new and even experienced crypto users. Its paid plan allows traders to access almost all functionalities of the service including, unlimited exchanges, custom portfolios, and rebalancing.
Shrimpy’s plans start as low as $8.99 per month. The subscription gives full access to the features above and also features a full social trading platform with complete portfolio backtesting.
Shrimpy has a simple, very clean, and easy to use interface. Setting up trading bots is easy, the functionalities are quite easy to use, so the platform is generally user-friendly.
Cryptohopper Trading Bot
The Cryptohopper domain and platform was registered in 2017 and is owned and operated by Cryptohopper BV, a Netherland based company. The platform serves as a web-based platform and comes with a user-friendly interface that operates 24/7. It is a platform that allows for both algorithmic and social trading.
The technology involved allows for full automatic tradings to take place by integrating the API to the crypto exchanges, and the services are easy to use in any internet-enabled device.
The platform incorporates features such as configurable and savable templates, a bot backtesting tool, and customizable technical indicators. Cryptohopper is compatible with several exchanges, i.e., Kraken, Coinbase Pro, Cryptopia, Huobi, Binance, Kucoin, Poloniex, Bitfinex, and Bittrex.
Cryptotrader is a project run by Algocraft limited and allows users to use their strategies to automated trading via the scripting language, which is based on coffee-script. Members of the platform can trade bitcoins and other cryptos without other software, and the bot operates 24/7.
The platform is web-based, and the VPNcloud hosts the automated bots. It allows its users to use backtesting and live testing strategies.
Cryptotrader platform provides an API that can link with different exchanges and give developers full trading algorithms writing rights. Crypto exchanges supported in the platform include Coinbase, Huobi, and Binance, Bitfinex, Bitstamp, Bittrex, Kraken, and Poloniex. It operates on subscription. Therefore, a trader can choose a paid plan that best suits their needs.
Zignaly, a Spain-based platform, was founded in 2018. It’s a trading terminal that allows bitcoin and other cryptos. The platform excels at both manual and automated trading.
The platform is cloud-based, which automatically updates without you having to do it manually. Any changes you make in your system are automatically updated into the cloud, and you can get access to the information from any device.
A trader gets external signals from the systems signal providers. The signals help to analyze the market and make strategies based on market conditions. This means that a trader doesn’t need to devote all of his time to trading. However, there is not much information about the reliability and safety of the platform. The price of Zignaly’s beta plan is $9 per month.
Kryll was launched in 2018 through an ICO but was introduced to the public in January 2018. Kryll’s block-like strategy structure makes it easy for traders to use trade as their primary mode of income.
Although it has gained popularity in the past two years and has received positive reviews from users and critics, it’s still less popular than its competitors. The Exchanges supported in this platform include Binance, Bittrex, Liquid, KuCoin, Poloniex, Coinbase Pro (GDAX), HitBTC, and Bitstamp. However, Kryll is still trying to make more exchanges compatible with its system.
Kryll is user-friendly so that even beginners can easily use it.
3commas is best for the more experienced crypto traders since its user interface is a little complicated. The interface can be accessed anywhere using a desktop, phone, or any other internet-connected device.
This cloud-based platform incorporates smart trading terminal, reliable trading bots, copy trading, and portfolio management. The platform supports 23 different exchanges, including Binance, Bitfinex, and others.
3Commas allows the user to do either manual or automated trading. Its pricing plan for starters is $14.5 per month, and you can change your plan as you progress.
HaasBot platform was founded in 2014 and had a transparent team. The platform offers a wide range of services, including technical indicators and backtesting of real-time and historical safety and insurance.
The platform requires users to install the software on their laptops, which comes with an excellent interface, and customizable dashboards that appeal to them. HaasBot supports both Linux and Windows OS, and a user can trade at any time.
HaasBot is compatible with 20 exchanges, including Bitfinex, Bitstamp, Binance, and BitMEX. Plan payments are made in bitcoins, and the prices range from 0.04 BTC for a 3-month plan to 0.32BTC for a 12-month advance payment plan.
Crypto trading bots are a must-have tool for any trader who would like to make significant trades. These programs help you trade, even while you are away and make wise investment decisions that are not clouded by emotions.
There are several trading bots available in the market, all of which come with different features. If you are looking for one, you may find it challenging to choose the best. Luckily for you, we’ve rounded up the seven best bots you can use to give you a headstart.