Category Archives: Trading Bots

Best Free Crypto Trading Bots in 2021

Cryptohopper

Cryptohopper is considerably new in the market but has already gained immense popularity due to its wide range of features and technical leverage over other bots. Few highlighted features are:

Features:

  • One of the main limitations of earlier crypto trading bots is that they could only operate when the PC is on. Cryptohopper uses cloud-based technology wherein, you can run and trade with your bot on a cloud and use it any time of the day even when you are offline.
  • Cryptohopper allows you to run your bot in autopilot mode and set your trading signals. This is extremely useful for new users who often fail to set their own trading signals.
  • Cryptohopper is enriched with other special features like technical analysis which helps you to customize your bot’s settings and templates through which you can design a new setting for your bot.

Gunbot

Gunbot is a popular trading bot with over 6000 traders using its services daily. The app is available for Windows, Linux, and Mac operating systems. It offers paid plans in BTC. Few important features are listed below:

Features:

  • Gunbot supports 32 different trading strategies including Bollinger band, step gain, and ping pong.
  • To avail of the services of Gunbot, users have to pay a one-time lifetime charge of 0.05BTC to 0.125BTC depending on the features they use. The lite version is available at lesser fees.
  • The app comes with customer support and will resolve your issues within a day. However, users are advised to turn off their bot in case the market is too volatile to avoid the risk of losses.

3Commas

The 3Commas trading terminal and trading platform offer a wide range of automated trading bots with the ability to configure them for round-the-clock execution of the preferred strategy. Using the trading platform simplifies the process of trading and expands the opportunities available to traders.

Features

  • Automizes trading maximizes profit and avoids loss from trading.
  • The bot is hosted online and is available from anywhere and any device having an internet connection.
  • 3Commas is available in 3 package plans starting from $22 to $75 per month. However, users can use the bot for free if they have an account at the Huboi exchange.

Coinrule

Coinrule is a cloud-based crypto trading platform empowering traders to compete with professional algorithmic traders and hedge funds. It was founded in London by Gabriele Musella and Oleg Giberstein who discovered that trading cryptocurrencies were unnecessarily complicated.

Features

  • Coinrule is a user-friendly, automated, trading bot platform that caters to both new and experienced traders.
  • It comes with a wide range of tools that allow you to easily set and define rules and conditions for when and how to trade, with no coding required.
  • To get started, all you need to do is create an account and connect Coinrule to your favorite exchanges using an API link

TradeSanta

TradeSanta is a popular cloud-based trading bot software that allows users to make a profit at the time of market fluctuation. It provides automated trading with the help of algorithms and there are tools like filters, signals which are very much helpful to take decisions. 

Features:

  • Streamlined process, multiple tools, and user-friendly interface;
  • Top cryptocurrency exchanges are integrated such as Binance, Huobi, Bittrex, BitMex, Bitfinex, and many more.
  • Users will get flexible telegram notifications.
  • Bot templates are available to launch your trade bot in a minute.
  • Fee as well as paid plans available
  • Telegram community with 24/7 support

Cryptocurrency Trading Bots – Advantages

Cryptocurrency trading is an emerging business and with more and more crypto traders flocking the market, the growth of digital currency exchange has risen to a whole new level. However, many new investors especially the novice find it extremely difficult to evaluate the cryptocurrency market conditions and to cope up with the volatile nature of the market. 

The cryptocurrency trading bots are relatively a new concept and have made crypto trading easy and popular especially among novice traders. Cryptocurrencies can be traded directly from crypto exchange platforms or through the help of crypto trading bots. Due to the volatile nature of the crypto market, many investors are gradually relying on trading bots to do the job for them.

What Are Crypto Trading Bots?

Crypto trading bots are a set of programs designed to automate cryptocurrency trading on your behalf. Typically, The investor/trader will have to pay attention to market statistics that play a crucial role in practicing trading and then pick which cryptocurrency to buy/sell and at what time. Crypto trading bots can easily automate the analysis and interpretation of market statistics. They can gather market data, interpret it, calculate the potential market risk, and execute buying/selling cryptocurrency assets. 

How do Bots work?

Investors can subscribe to free bot programs to aid in their cryptocurrency trading. On the other hand, many bots have user fees, some of which can be quite steep. Typically, investors seek out the bot or bots that will be most useful for them and then download the code from a developer. Each bot includes different requirements in terms of software and hardware.

Bots can be incredibly helpful, although there remains an ongoing debate about whether they should be permitted in cryptocurrency trading. In order to maximize the impact of a bot, however, an investor must know how to best utilize the tool. For instance, investors must have the proper accounts set up across digital currency exchanges.

They must stock those accounts with cryptocurrency holdings. In many cases, they must still make investment decisions such as when to buy or sell. A crypto bot is not a get-rich-quick solution for an investor unwilling to put in the time and effort necessary for success.

The Benefits of Using a Crypto Trading Bot

Save Time 

New cryptocurrency traders, investors, and miners quickly figure out that going into cryptocurrency is more or less a 24-hour gig. To be an effective trader, it is essential to monitor and stay on top of recent developments in the crypto world. Since cryptocurrency technology is expanding so fast, this would mean monitoring market insights every 10 minutes or so to keep track of relevant trends. 

Monitoring cryptocurrency trends all on your own can be rather time-consuming and overwhelming. Meanwhile, trading bots allow you to limit the amount of time you spend monitoring the market, as the artificial intelligence behind the bot will do that for you. 

Bots Lower the Barrier to Entry 

As you may already know, cryptocurrency trading is an exhausting process. Newcomers have to do a lot of research about the industry and the latest trends before they stand a chance to make effective trading decisions. Further, the nature of the crypto trading game is that even with adequate preparation, long-term success is not guaranteed. 

While crypto trading bots do not guarantee long-term success either, they certainly lower the barrier to entry for newcomers. By utilizing a trading bot to ease their way into crypto trading, newcomers can copy the actions of some of the more successful traders. 

24-Hour Trading 

Although cryptocurrency trading can be a full-time gig, even the most successful traders need to sleep, eat, and take care of daily chores. However, while you are off living your life, the crypto trading game does not sleep as crypto traders remain active worldwide, constantly shifting trends in one direction or the other. 

Perhaps the main advantage of a crypto trading bot is that it allows for much more effective time management for crypto traders. The crypto trading bot can be optimized so that it runs the trading process in the background at all hours. This allows traders to partake in the trading process 24 hours a day without being present in front of their computer screen without a break. 

Bottom line

Cryptocurrency trading bots are useful for automated trading and can be very profitable if used carefully. There is some trading software such as the bitcoin era platform which can be used for trading purposes. It is very much recommended to use any platform with proper knowledge and research and choose only reputed and secure bot software.