The Top 6 Cryptocurrency Trading Bots For Coinbase Pro

Handy Tips / 26.01.2021

At some point, every crypto trader must figure out if they are ready to incorporate cryptocurrency trading bots into their strategy. Trading bots are automated protocols that execute trades based on preset market indicators. Bots simplify trading, and they are an excellent way to ensure you don’t miss out on trading opportunities. 

Recently, there has been an influx of traders onto the popular exchange Coinbase Pro. Coinbase Pro is the advanced version of the largest exchange in North America, Coinbase. It provides users with more features, coins, and trading limits. The platform also supports API technology. This is the protocol that enables trading bots to function securely on the network. Here are the top 6 Coinbase Pro cryptocurrency trading bots in use today.

Shrimpy

Shrimpy is an advanced crypto trading bot that is extremely flexible. Users can leverage multiple bots across 700 different cryptocurrencies and over 15+ exchanges. In this way, Shrimpy makes it easy to diversify and manage your portfolio. One of the biggest draws for Shrimpy is its crypto social trading features.

Coinbase Pro users can search through thousands of professional traders and select users to follow. Once this feature is initiated, the follower’s account will mimic the leader’s account automatically. Best of all, Shrimpy pays the account leader monthly rewards for each follower they gain. 

Shrimpy also introduces next-gen features like rebalancing options. You can set your account to rebalance its holdings based on market share, value, and other factors. When you utilize these options with the social follow feature, you obtain a huge advantage in the market compared to the competition.

Haasbot

Haasbot is another popular Coinbase Pro trading protocol. Notably, this bot is part of the HaasOnline software suite. These protocols include various bots, various indicators, and other advanced features that can help you secure a higher ROI. This comprehensive platform allows you to choose between 10 different preset bots. 

There are also advanced programming options. Technical savvy users can even program their bot from the ground up utilizing C#. You can use over 50 technical indicators to tweak your bot to your exact specifications. Impressively, you can include 13 types of insurance and 21 safety measure to protect your profits further. The bot will only execute trades once all of your criteria are met. 

Unlike many others on this list, the Haasbot requires users to install software on their PC or laptops. You will need a Windows or Linux OS to use this bot. Once you download the program and install it, your bot can communicate with the HaasOnline Trade Server (HTS). Notably, all of this customization does come with a higher price tag compared to other trading bots

Cryptohopper

Cryptohopper is another established cloud-based trading bot that works great on Coinbase Pro. This bot features an easy-to-navigate interface that allows new users to configure and monitor their trading bots. For example, there is a helpful config-wizard or pre-created templates available for free. 

Cryptohopper allows you to trigger bots using an excellent selection of technical indicators, including RSI, Bollinger Bands, MACD, and many more. The bot also provides you with some advanced orders, such as trailing stop-loss options. A trailing stop loss is a self-adjusting stop-loss that takes into account bull runs and locks in your profits. There are also DCA and shorting features.

Impressively, Cryptohopper supports embed external signalers. This option allows new traders to subscribe to third-party analytics providers. These analysts provide information based on advanced techniques and systems. Specifically, machine learning, intelligent algorithms, and teams of mathematicians provide data to the network. All of this information can trigger buys and sells.

3Commas

3Commas is another popular cloud-based option that is suitable for both new and experienced investors. This web-based service is available on desktop and mobile. It features a plethora of advanced features such as trailing stop losses. The platform also supports cryptocurrency social trading.

Users can create, analyze and back-test a crypto portfolio in minutes. There is also a take profit target feature that allows your bot to close your positions when your profit target is met. When you combine this feature with the ability to sift through professional traders’ portfolios at will, you end up with a powerful network that can help you learn.

Crypto Trader Bot

The Crypto Trader Bot offers a cloud-based alternative to some of the larger options in the market. The network’s automated trading solutions have proven to be reliable and secure. This network offers trading bots that feature live trading and advanced programmability. Unlike the competition, you can set up both email and text notifications to stay informed.

The Crypto Trading bot ecosystem consists of a marketplace. Here, new and expert traders can buy and sell trading bot layouts. You can purchase trading strategies and sell your own. Notably, there’s also a nice selection of free trading strategies available in the marketplace. The network also supports bot backtesting. This feature allows you to review how certain strategies would work under different market conditions.

Quadency

The Quadency trading environment is designed to meet the needs of both retail and institutional investors. The network incorporates programmable trading bots that work directly with Coinbase Pro’s API interface. The network allows you to set your bot triggers based on advanced charting and portfolio analytics.

In terms of automated trading and portfolio management, Quadency bots are easy to operate. There are a variety of different pre-configured options that you can make simple adjustments on. You can also make a fully customized trading bot if you have certain requirements you don’t see in the pre-set bots. 

Top 6 Coinbase Pro Cryptocurrency Trading Bots

Choosing the right Coinbase Pro Trading bot comes down to more than just functionality. All of these bots on this list are both secure and reliable. However, there are factors such as flexibility, trading frequency, and overall cost that may determine the determining factors. No matter what bot you decide on, if it’s on this list, you can rest assured that your trades will execute when it’s time.

David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.