Best Crypto Trading Bot Platforms

When it comes to day trading crypto there are such an amazing opportunities out there. But there is one major problem. Crypto markets never sleep and most people need to catch sleep from time to time. That leads to many traders going to bed and waking up only to discover they missed out on a huge market move and an amazing trading opportunity. This isn't a problem for some traders. Why is that? Well, it's because some use crypto trading BOTS. In the following chapters I'll explain what crypto trading bots are. I will also go over the pros and cons of using them and compare the top trading BOTS side-by-side. So what are crypto trading bots? Well, they are computer programs that trade on your behalf with a given set of instructions or rule criteria to act on. So that might be something like buy X amount of Bitcoin if a certain price target is hit. Once that rule criteria is met, then the bots will automatically execute the trade you wanted. What this means is that in order to use a crypto trading bot, you will need to connect it to a crypto exchange account using something known as an API or application program interface. Basically that API gives your trading BOTS the ability to place trades programmatically at the exchange. The result is that you can execute trades in your sleep. You're essentially handing over access to your exchange account to a computer program. What happens if there is compromised code in the bot or the company that made the crypto BOTS turn out to be scammers? These are all very real concerns that you must be aware of. Are the machines going to take over your Binance account? Well not exactly. The good news is that you can set permissions for exchange API's. You can determine what particular API keys have the ability to do in your account. So for the crypto trading BOT, you can set the ability to only write orders buy or sell but not to initiate a withdrawal. Most likely a good idea. You can also limit IP addresses too. What that means is that any instructions must come from your own IP address which is a neat way to protect yourself against a scammy crypto trading bot. So now that you know what a trading bot is I want to go over the pros and cons of using them and give you some cold hard truths. One major Pro is that these BOTS enable you to trade 24/7 and execute trades in your sleep. That means you'll never miss out on the another trading opportunity ever again. Also trading BOTS help take the emotion out of trading. You are simply setting the rule criteria or instructions in the bot and leaving those trades to execute if your criteria are met. That means you should be less susceptible to FOMO or panic selling. Another benefit of using bots is that they allow you to back test your trading strategy. What that means is that a bot can take that strategy you're using and apply it to all that historical crypto price data and tell you how successful it is. Finally trading bots simplify trading. But they are pretty expensive. Given that a crypto trading bot can access and simultaneously carry out multiple trades across multiple different exchanges you only need a laptop to be trading. Still not all is well when it comes to crypto trading BOTS. I'm going to have to be straight up on the cons. Many people seem to be under the illusion that trading BOTS are some form of magical money printing machine.

Get one, switch it, on and you make money all day long. Sorry but that's not the case at all. With a bot you have to constantly tweak your trading strategy. That is work and it is certainly not a set and forget it money printer. Another con for crypto BOTS is that there are a bunch of scams out there. Even if you find a legitimate one some are so poorly coded that it's going to be impossible for you to execute a single profitable trade. Therefore you need to be really careful with crypto trading BOTS. If it sounds too good to be true then it probably is. I will list a few trading BOTS shortly, but if you choose to use a different trading BOTS that’s completely fine. It's always good to assess your options but if you see trading BOTS claiming to guarantee returns for low one-off pricing, please run for the hills. More than likely it's a scam. Another thing many people do not realize is that crypto BOTS need to be monitored. Do not expect to switch on a crypto trading bot and be laughing all the way to the bank. The market is cyclical. Trends come and go all the time. Basically a bot is not a substitute for being a smart trader. To use them, you will need to keep your funds on an exchange. There are a lot of highly reputable and secure exchanges out there but hacks do happen. With all that said, in the following chapters I will list some of the best and most well-known crypto trading bots. Shrimpy is a social portfolio management tool and crypto trading platform that bursts onto the scene in 2018 and quickly gained a ton of popularity in the trading community. The value proposition was simple. Provide as many top-of-the-line trading tools for the lowest price possible. That's why they offer a good range of services for free. What's important to note is that Shrimpy is not designed for signals or indicators. So it's not the best tool for day traders. Instead it is a longer-term portfolio management tool which automates things like portfolio rebalancing, dollar cost averaging, and stop losses. That approach is perfect for anyone that wants to take a top-level view of their portfolio and wishes to automate the management of that. Unlike other trading bots that provide almost every possible indicator, signal and stat, Shrimpy eliminates that complexity by focusing only on core long-term trading strategies. That makes things super easy for beginners and this is also why Shrimpy is normally the first crypto trading bot I recommend to friends interested in this bots. Another important feature is their social portfolio management. This enables you to take a bit of a backseat when it comes to managing your funds and allows you to select other traders to manage your portfolio for you. You can also select the best traders on the platform and get a copy of their trading strategy without, copy trading them. That's a great learning tool and you should definitely check out. Also Shrimpy offers a pretty powerful back testing tool. So if you have that ultimate trading strategy that you want to put to the test, then you can do so right here. Right now Shrimpy doesn't have a mobile app. If that's important to you then you should certainly weigh up other options. The Shrimpy crypto trading bot is also supported on a ton of different exchanges such as KuCoin, Binance, Coinbase, GEMENI, OKEX, Bitfinex, Poloniex, BITtrex, BitMart and Huobi Global.

What's the cost of all this? Well Shrimpie offers a pretty extensive free plan that allows you to link unlimited exchanges to monitor your portfolio performances, blacklist assets gives you access to an asset balance tracker and more. However if you want to automate that portfolio management back test those trading strategies or use Shrimpie social trading features, then you'll need to opt for a paid plan. That will set you back just $13 per month if you opt for the annual plan or $19 per month if you want to pay monthly. Additionally, Shrimpie does offer an enterprise plan too. So what are the benefits and drawbacks of Shrimpie? Well they offer a lot of features entirely for free and the subscription fees are quite reasonable. If you are a crypto HODLer and want to automate things like portfolio rebalancing and dollar cost averaging, then Shrimpie is going to save you so much time. The social trading feature is also ideal for anyone that wants to leverage the knowledge of top crypto traders that do nothing but eat, sleep, trade and repeat. In terms of drawbacks ,Shrimpie is not open sourced so you're going to have to trust the thousands of people using it that the code is good. Also there's no mobile app which could be a deal breaker for some. Finally, Shrimpie does not provide the functionality that most active day traders will need. If that's you then there are certainly better options out there coming up in the following chapters. In my opinion Shrimpie is a top option for long term crypto holders who want to automate that portfolio management or want to copy trade some of the best traders in the space. To learn more about Shrimpie, please visit their website at https://www.shrimpy.io/

TradeSanta is cloud-based BOT and has a solid reputation with over 45,000 active users 14,000 active trading BOTS and 1.8 million completed trades. However I do want to give you a fair warning. It may take you a while to get used to some of the functionality. When it comes to features, TradeSanta offers a long bot template to use when you expect a crypto asset to rise in price, a short bot template when you think it will fall and a custom template which gives you the freedom to leverage the full functionality of the bot. In addition to all that TradeSanta offers you a excess of technical indicators to digest. These include things like Bollinger signals, trade filters and volume filters. Another neat feature that is great is the real-time tracking, which enables you to monitor the bots progress on-the-go with transparent analytics and telegram notifications. TradeSanta has also got an iOS and Android app. When it comes to exchanges, TradeSanta supports HitBTC, Binance, BitMEX, Houbi, OKEX, Bitfinex and BITtrex too. In terms of pricing, the good news is that TradeSanta offers a 5 day free trial. So you can jump in there and play around with the bot to see if it's worth your hard-earned money. After that you can use the free version which gives you access to just two bots and has a maximum monthly volume limit of $3,000. On top of all that, you'll get access to an unlimited number of trading pairs, all TradeSanta strategies, telegram notifications and general customer support. The basic plan gives you access to everything the minimum plan offers, while unlocking access to up to 49 BOTS and allowing you to run an unlimited amount of trade volume through the bot. That will set you back $14 a month. This is the plan I recommend for most people who choose to opt for TradeSanta. However you can upgrade to the hit BTC promo plan for another $7 per month. This gives you everything in the basic plan plus 0% trading fees on HitBTC. Some might say that's a valuable benefit but I'm not the biggest fan of HitBTC. The top pay plan on TradeSanta basically gives you access to everything the basic plan does, plus the 0% in trading fees on HitBTC and access to an unlimited number of bots. That will set you back to $70 per month. Honestly I doubt any of you will really need to shell out $70 a month. So what are the pros and cons of TradeSanta. Well you should certainly have this bot on your short list if you want lots of automated trading options and are looking for an intuitive interface and reliable security measures. The bot is also well suited to beginners dipping their toes into the crypto bot waters. Needless to say, automating your crypto trading with such a tool is going to give you loads of time and there is a super active trading community, to meet like-minded traders too. Still, there are drawbacks. It lacks support for some of the major high liquidity exchanges like Kraken and KuCoin and doesn't support any decentralized exchanges. It's also not really suitable for taking advantage of arbitrage opportunities and is not open source. Who is TradeSanta for? Well, in my opinion this bot is ideal for any crypto day trader that's not interested in futures trading and envisions that they will take crypto bots seriously. It's also beginner friendly, so if you're new to the world of crypto bots then this is a great place to start. To learn more about TradeSanta, please visit their website at https://tradesanta.com/en

Next crypto bot on my list is called Crypto Hopper. Crypto Hopper provides expert trading tools without the need for coding skills. If you are into more advanced trading stuff like market making and exchange arbitrage, then this bot has you covered. The Crypto Hopper marketplace also boasts a plethora of trading templates, strategies and signals to choose from. These signals allow you to subscribe to professional analysts around the world and Crypto Hopper uses these signals to trade. But be warned that not everything in the marketplace is free. If you want to access your trading bot on the go, the good news is that there is an Android and iOS app. When it comes to crypto exchange support, Crypto Hopper integrates with KuCoin, Binance, Coinbase, OKEX, Bitfinex, Poloniex, BITtrex, HitBTC Kraken and Huobi Global. In terms of cost, Crypto Hopper offers a 7-day free trial. The basic pan will set you back 16 dollars per month and is ideal for more day traders. If you're into exchange arbitrage then you'll be paying $41 per month and the market making license is 83 dollars per month. What are the pros and cons of this bot? Well on the pro side it is easy to setup keenly priced. The marketplace is great and there is good coin and exchange support. If I was to have one gripe it would be that I cannot see who is behind the bot. Transparency goes a long way in crypto. Who can benefit from Crypto Hopper? Well honestly almost anyone that is interested in using a pro level crypto bot at a reasonable price. To learn more about Crypto Hopper, please visit their website at https://www.cryptohopper.com/

The next crypto bot on my list is called Gunbot. Gunbot also known as Gun-T. It's a pretty popular crypto bot that is compatible with Mac, Windows and Linux so you can run it on practically any computer. When it comes to features Gunbot comes with numerous inbuilt trading strategies that include the likes of step game, gain and ping pong. Another cool thing is that you can customize your trading strategies in Gunbot and the bot will execute those trades for you. When it comes to mobile support Gunbot is pretty well mobile optimized. Gunbot also supports a ton of top-tier exchanges like Coinbase Pro and margin trading on BITmex, Kraken and OKEX. What’s the pricing for Gunbot? Well this one differs from the rest which have a subscription-based model. Instead Gunbot charges a one-time license fee. The starter pack is 0.02 Bitcoin. However you'll only be able to use Gunbot to trade on one supporters exchange and access free trading strategies. Gunbot standard offers access to all trading strategies, but you will still only be able to use the bot on one exchange. That will set you back 0.05 Bitcoin. Gunbot Pro is where things start really heating up in the pricing stakes it will set you back 0.075 Bitcoin but you will be able to use the bot on three exchanges and you'll get access to trading strategy back testing too. The bot also offers a wide range of add-ons and upgrades as well. In terms of pros and cons, I really like the variety of trading strategies on offer at Gunbot. It's also easy to use and supports exchanges like Coinbase Pro but the downside is that Gunbot feels relatively expensive with its one-off fee structure. Who is Gunbot for? Basically anyone who wants a beginner friendly crypto trading bot that intends to be trading crypto seriously for a long time. To learn more about Gunbot, please visit their website at https://www.gunbot.com/

Next crypto bot on my list is called Crypto Hopper. Crypto Hopper provides expert trading tools without the need for coding skills. If you are into more advanced trading stuff like market making and exchange arbitrage, then this bot has you covered. The Crypto Hopper marketplace also boasts a plethora of trading templates, strategies and signals to choose from. These signals allow you to subscribe to professional analysts around the world and Crypto Hopper uses these signals to trade. But be warned that not everything in the marketplace is free. If you want to access your trading bot on the go, the good news is that there is an Android and iOS app. When it comes to crypto exchange support, Crypto Hopper integrates with KuCoin, Binance, Coinbase, OKEX, Bitfinex, Poloniex, BITtrex, HitBTC Kraken and Huobi Global. In terms of cost, Crypto Hopper offers a 7-day free trial. The basic pan will set you back 16 dollars per month and is ideal for more day traders. If you're into exchange arbitrage then you'll be paying $41 per month and the market making license is 83 dollars per month. What are the pros and cons of this bot? Well on the pro side it is easy to setup keenly priced. The marketplace is great and there is good coin and exchange support. If I was to have one gripe it would be that I cannot see who is behind the bot. Transparency goes a long way in crypto. Who can benefit from Crypto Hopper? Well honestly almost anyone that is interested in using a pro level crypto bot at a reasonable price. To learn more about Crypto Hopper, please visit their website at https://www.cryptohopper.com/

My number one trading bot is called 3commas. What you need to know is that this is one of the most popular BOTS out there with over 140,000 users and 65 million dollars in trade volume every day. It has a super intuitive interface packed full of detailed analytics and a ton of functions. The bot also enables you to set stop loss and take profit targets and craft your own trading strategies. Personally I find 3commas smart trading functionality particularly useful. For example you might want to buy Ethereum with Bitcoin. But on some exchanges when you make an audit you need to decide if you want to set a take profit, or a stop loss. You cannot always set both and that's pretty inconvenient. But with 3commas that is something you can do as well as set trailing stop losses easily and quickly. That means, if the market jumps up 5% then the trailing stop loss raises your stop-loss by 5%. Some exchanges do allow you to set take profit levels and stop losses at the same time but if that trading pair you want to trade isn't there, then you don't have to pass up that opportunity anymore. On top of all that 3commas offers back testing, dollar cost averaging BOTS, a ton of different trading tools, a traders diary to keep all your trades in one place and a highly developed signals marketplace which allows you to mimic and automate the trades given by the top signals providers. That means you can follow them signals and let the bot do the hard work. 3commas has not forgotten about mobile users too. Just hit that App Store and you will see that the bot supports all sorts of major exchanges such as KuCoin, Binance, Binance DEX, Binance Futures, BitStamp,EXMO, YoBit, GateIO, CEX.io Coinbase Pro, OKEX, Bitfinex, Poloniex, BITtrex, HitBTC Kraken and Huobi Global. Cost wise, 3commas offers a free three day trial and prices range from anywhere between $14,50 per month and $49 50. If you are not into futures trading then the plan for $25 is what you want. Onto the pros and cons, in my opinion 3commas has one of the best interfaces out there. It's got copy trading supports a ton of exchanges and offers that sweet signals marketplace. On top of all that I cannot stress how useful that smart trading feature is. 3commas is probably not the best pick for inexperienced traders. So if you're an experienced trader looking for all the bells and whistles, you need look no further than 3commas. As mentioned before one drawback of using these bots is having to keep your funds on an exchange. Which of course does have its risks but there is no getting away from that if you want to use them. So if you're going to be running trading bots then I do recommend that you split your funds across more than one exchange. These bots support multiple exchanges which makes it easier to spread that risk. Also if you're going to be using a bot that I haven’t mentioned before, make sure that you do your research and extra suspicious of any bots that promise returns. There have been a number of instances in the past where API Keys have been phished in order to conduct malicious trades so be aware of that. In the end crypto trading BOTS definitely won't make you a millionaire, but if used correctly they can equip you with the tools to improve your trading game. To learn more about 3commas, please visit their website at https://3commas.io/