Most people know about Crypto trading bots now, however, they’ve been around for a few years. But, what are they? And which one is the best for trading crypto all the time? You’ll be able to answer these questions after reading this tutorial on the basics of crypto trading and its automation. You may even be able to start automated trading on your own.
Crypto trading bots are sophisticated, automated, data-driven, and maybe better than trading manually. When a bot sees an opportunity in the market, it opens or closes trades on your behalf.
For the most part, crypto trading comprises buying and selling cryptocurrencies like Bitcoin and Ethereum. Like Forex, the crypto market is decentralized, meaning no central bank or authority oversees all transactions. Everything is on a computer network, although trading is normally done through a crypto exchange. You’ve probably heard of Binance and Coinbase, two of the world’s leading trading exchanges.
Because of its extreme volatility, many traders and investors prefer crypto trading. It offers significant profit margins with the proper transaction, but making the perfect trade can be difficult even if you know your stuff. The crypto market never sleeps and changes rapidly.
That’s why AI crypto trading bots are trending right now. With Bitcoin values constantly shifting and new altcoins surfacing practically daily, trading bots may be just the ticket. Let’s examine trading bots and how choosing the appropriate one can help you.
Run Down of the Seven Most Powerful Trading Bots
I attempted to keep this as concise as possible. All of the aspects of crypto trading bots have been covered in this article. So, here are our top picks for the finest crypto trading bots. We chose them for beginners, so don’t worry about them being too difficult right away.
A Defi platform that anticipates a market for revolutionary Dao crypto trading bots. The IBO (Initial Bot Offering) system allows community members to make more money quickly and safely. RoboFi provides a safe and transparent environment based on blockchain technologies to allow developers to launch crypto trading bot platforms. Individuals will also have simple access to these bot applications, resulting in increased income potential.
Owners of the VICS token can participate in the IBO (Initial Bot Offering), acquire G-tokens (Governance Tokens), earn money through trading activities, participate in drawings (games), or stake in RoboFi Earn, which should be launched eventually.
Robofi project raised over $12 million in public and private VICS sales, and the TVL volume has topped $ 2.2 million since the main network launched on February 28, indicating customer confidence in trading using RoboFi.
Cryptohopper is a paid bitcoin and other cryptocurrency trading bot. But before you sign up for a paying membership, Cryptohopper offers a 7-day free trial.
Cryptohopper is known for its market-maker bots that profit from the spread even in bear markets. You can also leverage pricing discrepancies between markets to your advantage. With a marketplace for bots and methods and a “follow” function where you can follow successful traders and adapt their strategies, Cryptohopper is seeking to lead the way in social trading. So even a newbie has a chance to succeed in the crypto market.
Pionex currently has 16 free cryptocurrency bots. It gathers liquidity from Binance and Huobi exchanges and provides a free trading bot. As an alternative to standard crypto arbitrage bots, Pionex exchange recently launched Spot-Futures and it’s simple to use.
That means you can’t utilize the bots or access Binance or other major exchanges. Although it is free, it is still a terrific offer. When starting using automated trading, you may not want to commit to a month-long strategy. Pionex is free, so you won’t have to. You may learn about crypto trading bots at your own pace. You’ll also know you’re safe since Pionex is regulated by agencies in both Singapore and the US.
Coinrule is a well-known trading bot for novices. A simple interface allows you to create your own plan in under a minute. Customize 150+ templates or create your own basic if-then rules. You can also specify constraints for transaction orders, such as times or occurrences. Create your own strategy by combining stop-loss, accumulation, and HODLing characteristics.
The built-in Demo exchange is also intriguing. Traders can safely test their trading methods using a virtual allocation of coins. The Demo rules use Binance pricing, so there is no risk. So the platform is ideal for building a Coinbase bot.
The main feature of Quadency trading bot is backtesting, which lets you test your ideas based on evidence rather than guesswork. Before using your money with a crypto trading bot, it’s usually nice to see how past data performed. The platform is also one of the top Bittrex bots.
Quadency features many distinct bots with various strategies. It also has several pre-builts for those who don’t want to mess with the coding yet. Quadency’s Smart Suggest tool also helps newbies by suggesting bots and techniques based on their preferences. It can also link to Binance, Kraken, Liquid, and other exchanges.
After a risk assessment, Botsfolio advises the optimal crypto investment method to automate. They are pre-built and advised depending on your financial goals, risk appetite, and current financial status. The user can trade cryptocurrency without coding or trading knowledge.
Value Investing, Hedge Trading, Futures Trading, and Fixed Income are the four options available. While Value Investing is their most popular technique, Botsfolio is known for its Hedge Trading strategy, which protects against the crypto market’s crazy volatility. Simple to use: just fill out the questionnaire, connect it to your Binance account, and pick a strategy.
3Commas is a popular YoBit crypto bot and general auto-trading platform. New to the trading landscape, 3Commas has made waves with a hybrid approach of smart platforms and crypto bots. If you’re a crypto pro, 3Commas may be the best crypto trading bot available.
It offers Basic and Pro subscriptions. Price: $25/month for the basic bot, $84/month for an advanced bot with many more capabilities. 3Commas’ cryptocurrency trading bot can use several technical indicators to trade bitcoin for profit.
Not the trading bot, but your trading technique makes you money. However, like Grid trading bots, they can be profitable if operated long enough in a sideways market.
Beginners may be tempted by bots because they appear to allow them to sit back and wait for the money to roll in. That’s rare. A bot still needs regular monitoring, configuration, and tweaking. Even so, picking the proper algorithm is not easy, and beginners may need to spend time backtesting several bots on multiple platforms.
Trading bots work, it’s your strategy that causes issues. The trading bot’s job is to execute your order. So if your setup is good, you will be unstoppable. Crypto trading bots are sophisticated trading tools that can greatly boost your profits if utilized appropriately. Choosing the best crypto trading bot is important to your success. But even the best crypto bot would fail if the appropriate infrastructure is not in place. To make decent revenues, a crypto bot needs to run 24/7 in a high-bandwidth environment.
RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.