A Better Way to Trade: Top 5 Crypto Trading Terminals 2020

Handy Tips / 11.06.2020

While a lucrative investment opportunity, crypto trading can be draining. Yes! Some have been found glued on their screens round the clock. But like experts will tell you, working hard isn’t the deal. Working smart is!

Crypto trading terminals offer the smartest way to trade cryptos. Terminals make your trading life easier by managing your portfolio, automatically executing trade opportunities, and keeping your trades in check 24/7. In short, terminals help you earn while you sleep.

This article draws the line between good and best and filter through available crypto trading terminals to bring you the top 5. 

But, first things first!

Defining Features of Top Crypto Trading Terminals

Reliability – Is the terminal reliable? The best place to get the answer is to find what users are saying about their experiences using the platform.

Profitability – People trade for money, but when a terminal has bad fee plans and wrong strategies, then you lose your investment within time.

Security – A terminal may give the best experience and help you lots of profits. But what is the point if your earnings are vulnerable to theft? Secure storage and transaction are key.

Transparency – The whole point of cryptocurrency creation is transparency, and your terminal should not shield this feature whatsoever. Transparency creates trust that results in a serene trading environment. 

User-friendliness – Again, you don’t want to go for something you can’t use after pumping all your money. That’s why top terminals offer demo accounts to let you have a taste beforehand.

Now you may be asking, is there any terminal that has these features? Well, there are! And here are the best 5 for you:

Shrimpy

Despite being around since 2018, Shrimpy offers a diverse set of trading features in the simplest form that any user, be it a newbie, can understand at ease. This is the best platform for both experienced and inexperienced crypto traders. The strategies are automatically executed using in-built algorithms, making it one of the most profitable crypto terminal. 

It offers the most competitive plans in the market with a free Hodler account. A professional account goes for $13/month with a 32% saving if you choose annual billing. Other unique features include:

Rebalancing – Allows Shrimpy to trade on your behalf by automatically executing a buy or sell request for pairs that are aligned with your goals at any given time.

Backtesting – Shrimpy analyzes your strategy and simulates its potential performance over historical data to reduce the risk of losing. 

Social trading – Shrimpy allows inexperienced traders to copy and follow expert actions on their portfolios. 

Multi-exchange support – Currently, Shrimpy supports; KuCoin, Binance, Bittrex, Coinbase Pro, Poloniex, Kraken, Bibox, Huobi, Huobi Global, Gemini, BitMart, OKEX, HitBTC, and Bitstamp.

Gekko

Gekko is an open-source crypto trading terminal available for download on GitHub. With over 2,000 monthly downloads, Gekko is among the largest crypto GitHub projects. Gekko is currently supporting 9 crypto exchanges: Binance, Poloniex, GDAX, Kraken, Bitfinex, Bittrex, Coinfalcon, EXMO, and Luno.

Though Gekko has a friendly user experience, working with it requires technical expertise in app development, hence mostly seen as a developers’ tool. Besides, the terminal does not allow arbitrage opportunities.

Gekko unique features

Web interface – Gekko presents a web interface to help you monitor your positions and trade strategies.

Free – Gekko is totally free and compatible with Windows, Mac, and Linux. 

Backtesting – Provides possible results of your trade by comparing the trade with historical data.

3Commas

3Commas is a cryptocurrency trading terminal focusing on portfolio management and bot trading. It stands out as the best trading terminal for expert traders. Also, unlike other terminals, 3commas features short term crypto trading strategies. 

The platform supports 12 exchanges, including BitFinex, Coinbase, Bittrex, Gate, Huobi, Binance, Binance DEX, Bitstamp, Poloniex Kucoin, Bitmex, and Kraken. Its prices range from $29 – $99 a month.

Unique features of 3Commas

Many trading tools – 3Commas offer performance analytics, automated trading bots, backtesting tools, and trader’s diary.

Mobile Apps – You can now monitor your portfolio anywhere at any time, thanks to 3Commas’ mobile application, which is available for Android and iOS.

Functionality – 3Commas detailed user interface enables traders to set take profits and stop loss. 

Cryptohopper

Cryptohopper is a crypto trading terminal that features copy trading and an automated bot. Copy trading is a policy that allows newbies to copy experienced traders’ strategies. With Cryptohopper, you can automate almost every aspect of your portfolio. 

Currently, 12 Global Exchanges are supported, i.e., Huobi, HitBTC, Binance, Bitvavo, KuCoin, Poloniex, OKEX, Bittrex, Kraken, Coinbase Pro, and Bitfinex. Cryptohopper offers a free pioneer account and other premium accounts whose price range from $16.58 to $83.25 per month. 

Other unique features of Cryptohopper includes an easy to set dashboard and an external signal tool to help traders subscribe to global expert analysts.

CryptoTrader

Cryptotrader is a cloud-based algorithmic crypto trading terminal. The terminal helps traders to simplify the process of trading and to make more profits without any limitations on experience. Its adoption of cloud computing makes it stand out. The instant notifications and fast execution of trade opportunities make it stand out. 

The pricing ranges from 0.0009 to 0.0206 bitcoins per month. CryptoTrader supports multiple crypto exchanges, including BitFinex, Poloniex, Bitstamp, Coinbase, Kraken, Bittrex, Kcoin, Binance, and Huobi.

Unique features of Cryptotrader are cloud automated trading bots, support for major crypto exchanges, Strategies Marketplace, Backtesting, Instant alerts & notifications.

Bottomline

Trading online can’t be compared to traditional trading. For online trading, there is no spare time. Markets are always running. For example, crypto markets are open 24/7. This makes tracking your portfolio a time-consuming task, particularly if you’re a manual trader. This makes it even harder if you own different accounts with different exchanges. 

Fortunately, there is a better way to manage your accounts. Trading terminals bring all your accounts in one place then automate the whole process. This not only saves you time but also helps you in avoiding losses. 

If you have done your research well, you must have noticed many crypto trading terminals in the market today. But, well, if you follow the above extract, you are in a better chance of developing an ultimate trading strategy that can help you realize your investment dream.

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Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.