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6 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 companies offering trading bot services makes them a perfect discussion item. The main reason behind the use of trading bots is the crypto market volatility. Since the crypto market is a 24-hour economy, trends change in seconds. Automated trading allows crypto traders to react to changes even when away from their trading platforms.
As a trader, you might often wonder what bot is the best for use. Keep reading to learn the seven best trading bots, as listed below.
Cryptohopper Trading Bot
The Cryptohopper domain and platform were registered in 2017 and are owned and operated by Cryptohopper BV, a Netherland-based company. The platform is web-based and comes with a user-friendly interface that operates 24/7. In addition, it is a platform that allows algorithmic and social trading.
The technology allows full automatic trading by integrating the API into the crypto exchanges. Furthermore, the services are easy to use on any internet-enabled device.
The platform incorporates configurable and savable templates, a bot backtesting tool, and customizable technical indicators. In addition, Cryptohopper is compatible with several exchanges, i.e., Kraken, Coinbase Pro, Cryptopia, Huobi, Binance, Kucoin, Poloniex, Bitfinex, and Bittrex.
Cryptotrader
Cryptotrader is a project run by Algocraft Limited and allows users to use their strategies for automated trading via the scripting language based on the coffee script. Platform members can trade bitcoins and cryptos without other software, and the bot operates 24/7.
The platform is web-based, and the VPN cloud 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 algorithm writing rights. Crypto exchanges supported in the platform include Coinbase, Huobi, Binance, Bitfinex, Bitstamp, Bittrex, Kraken, and Poloniex. In addition, it operates on a subscription. Therefore, traders can choose a paid plan that best suits their needs.
Zignaly
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 cloud-based platform automatically updates without you having to do it manually. Any changes you make in your system are automatically updated in the cloud, and you can access the information from any device.
A trader gets external signals from the system’s signal providers. The signals help to analyze the market and make strategies based on market conditions. This means a trader can devote only some of his time to trading. However, there needs to be more information about the reliability and safety of the platform.
Kryll
Kryll was launched 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 income mode.
Although it has gained popularity in the past two years and has received positive reviews from users and critics, it still needs to become more 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
3commas is best for the more experienced crypto traders since its user interface is complicated. The interface can be accessed anywhere using a desktop, phone, or internet-connected device.
This cloud-based platform incorporates a smart trading terminal, reliable trading bots, copy trading, and portfolio management. The platform supports 23 exchanges, including Binance, Bitfinex, and others.
3Commas allows the user to do either manual or automated trading. Its pricing plan, for starters, is $12 per month, and you can change your plan as you progress.
HaasBot
The HaasBot platform was founded in 2014 and had a transparent team. The platform offers various services, including technical indicators and real-time and historical safety and insurance backtesting.
The platform requires users to install the software on their laptops, which comes with an excellent interface and customizable dashboards that appeal to them. In addition, HaasBot supports both Linux and Windows OS, and users can trade anytime.
HaasBot is compatible with over 20 exchanges, including Bitfinex, Bitstamp, Binance, and BitMEX.
Bottomline
Crypto trading bots are a must-have tool for any trader who wants to make significant trades. These programs help you trade, even while you are away, and make wise investment decisions not clouded by emotions.
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Several trading bots are available in the market, all with different features. So if you are looking for one, you may find it challenging to choose the best. Luckily, we’ve rounded up the seven best bots you can use to give you a headstart.
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