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10 Best Crypto Trading Bots

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best crypto trading bots

Nowadays, cryptocurrency is a popular investment option worldwide. The market is volatile and there are several risks associated with trading, but the rewards are also great. This is why people look for profitable trading occasions through which they can establish a steady source of passive income. 

It is not possible for everyone to rigorously analyze the market and study charts throughout the day. This is the reason why many individuals are now taking the help of trading bots that are capable of trading on autopilot. However, it is not always easy to determine whether a robot is efficient or not. Therefore, in this article, we have highlighted some of the top options in the market.

Crypto bots and their role for traders

Crypto bots are programs that are built on preset algorithms. They are responsible for submitting long and short trades to exchanges once a set of conditions is satisfied. Many traders are prone to making emotional decisions and this can ruin profit-making opportunities. Unlike a human trader, a bot does not trade based on impulses. It is meant to grow the account and mitigate losses. Additionally, it can run 24/7 without pause.

Common types of crypto bots

Let’s look at the different types of systems in this category:

Arbitrage bots

These bots perform a set of operations by buying and selling the same crypto amount at the same time from different exchanges. This way, it tries to capitalize on the difference in exchange rates. Such is the nature of the trade that the crypto amount on both exchanges remains unchanged. 

Algorithmic trading bots 

These systems run on the basis of algorithms that tell them when to buy, sell, or hold assets. They use the power of artificial intelligence to make informed decisions. Since they remain active 24/7, there are no chances of missing out on trades. 

Grid trading bots 

These bots place a series of long and short trades at preset intervals within a fixed price range. This way, they create a grid of orders. They are most effective in markets where the prices fluctuate quite frequently. 

Market-makers

Market-makers supply liquidity for a crypto asset by submitting both bid and ask limit orders on exchanges. They earn profit by collecting the bid-ask spread over several orders. 

Why are crypto bots so necessary for trading cryptos?

You might be wondering “are trading bots profitable?” These systems analyze market data, forecast risk, and place buy and sell orders based on their calculations. They monitor the market 24/7 and place orders when the conditions are satisfied. The majority of bots connect to exchanges using secure API keys. For making their decisions, they also analyze historical data. This way, they make informed decisions and generate steady profits.

Crypto bot strategies

Let’s look at some of the popular bot strategies:

Mean Reversion

The main idea behind this trading approach, is that the asset’s price will return to its mean value over time. Here, the best option is to take advantage of the price ranges occurring after a major rise or fall. Essentially, it involves trading around the central value.

Arbitrage 

While using this strategy, traders try to take advantage of the minor price differentials for assets across various exchanges. It is a relatively risk-free strategy. You don’t need several years of experience behind you to start arbitrage trading. 

Momentum Trading 

Here, traders focus on the short-term price shifts and try to capitalize on market volatility. They use various indicators like candlestick patterns, RSI, and MACD to forecast trends. The main idea is to buy when an uptrend is detected and sell at the highest peak prior to the fall. 

Natural Language Processing 

This technique is used to ascertain the market sentiment by analyzing news releases, newspaper articles, and social media posts. Financial releases impact the price of pairs and NLP is useful for going through multiple sources in a short time. 

Are crypto bots legal?

Yes, it is completely legal to buy a trading bot. Most developers test their bots before releasing them. Nevertheless, some brokers do not allow users to trade using automated systems. 

Are there any risks with trading crypto bots?

There are some inherent risks with automated crypto trading. Your bot account might be accessed by a hacker and they might steal your API keys. If the algorithm is erroneous, you will make losses instead of profits. 

Positives & negatives

Here are the advantages:

  • Eliminating emotional decision-making: Due to the highly volatile nature of the crypto market, emotion-based decisions can be disastrous. Bots can eliminate emotions from the trading process. 
  • Highly efficient: These systems can perform multiple tasks at the same tide, unlike human traders.
  • Suitable for beginners: Novice traders might not be able to analyze price charts and market data. Robots can do the heavy-lifting for them.

Let’s look at the disadvantages:

  • Limited assets: A cryptocurrency robot is programmed to work on a few assets only.
  • Technical issues: When the code is unstable, the program can crash or lag, thus affecting profits.

10 of the best crypto bots for 2022

Comparing the best crypto trading bots

Trading botKey features Price Trial period 
Pionex16 free in-built trading bots, 0% commission for buying crypto, trade using USD0.05% feeNo
CryptoHopperPowered by artificial intelligence, backtesting, and paper trading, strategy designerFree7 days
TradeSantaMobile app, spot, and futures trading, pre-set bot templates$15/month3 days
BitsgapPortfolio management, demo trading, 2-factor authentication$29/month7 days
QuadencyOver 1500 crypto assets, portfolio analytics, integrated market-scannerFreeNo
3CommasBot presets, advanced analytics, 18 exchanges supportedFree3 days
CoinruleStrategy tester, 150+ trading rules, trigger actions FreeNo
TralityRule builder and code editor, fast backtester, cloud-basedFreeNo
HaasOnlineCloud-hosted, 25% commission for referrals, scripting language for developing bots0.009 BTC14 days
ZignalyTradingView signals, copy trading, SAFU fundFreeNo

Pionex

Pionex Crypto Bot

Pionex offers 12 different trading bots for its users. They use various strategies like Arbitrage, DCA, Leveraged Grid, Reverse Grid, Margin Grid, and Grid. While some of the bots require a minimum deposit of $100, others let you get started for just $20. There is no heavy fee to be paid for using this platform. You can simply download the program for free from the official website.

Pionex aggregates liquidity from top exchanges like Binance and Huobi. It has a Money Service Business license from FinCEN and several companies like Gaorong Capital, Shunwei Capital, and ZhenFund have invested in it. 

Highlights 

  • Low minimum investment
  • Vast community of traders
  • High trading volume
  • Lets you purchase the price dips
  • 15-50% APR for Arbitrage bot

Pionex: reputed trading bot with low commissions

Pros Cons
Community support via Discord and TelegramNo support for fiat currencies
Low trading feesNo custom strategies 
No monthly subscription

Pionex has been covered by several well-known media outlets. It is a licensed platform offering pre-built bots in exchange for a small trading fee. This makes it suitable for newcomers.

CryptoHopper

Cryptohopper

This is an AI-powered bot that trades 24/7 on autopilot. Its parent company is based in The Netherlands, and it supports 15 top exchanges. It is a secure platform that uses 2-factor authentication and supports Google Authenticator and YubiKey. You don’t need to be an expert to get started with this platform. You can purchase strategies and bot templates and subscribe to signals thanks to the social trading feature.

CryptoHopper has DCA bots that let you double or triple your investments. You can create customized triggers for the bots to take action when there is a major market event. Also, you can test your strategies risk-free in a simulated environment.

Highlights

  • Custom sell orders and notifications
  • More than 50% trading commission through referred affiliates earning
  • Strategy designer for building custom strategies
  • Paper trading and backtesting

CryptoHopper: high-rated bot with cheap paid plans

ProsCons 
Educational resourcesFree plan offers limited features 
Backtesting functionality
No additional fees

This is arguably the best crypto bot in its price range. It has a lot of advanced features and ready-made strategy templates you can choose from. 

TradeSanta 

TradeSanta crypto trading bot

TradeSanta is a website and app that was launched in 2018. This platform is extremely easy to use since it lets you carry out trading operations using a mobile app. You can set this system up in just ten minutes. Prior to investing real money, you can use a demo account to test the effectiveness of the strategy. These robots use API keys to connect to exchange accounts, and they don’t have permission to deposit or withdraw money.

The unique aspect of this platform is the referral program through which you can earn a 20% bonus. It is one of the few systems that allow trading with leverage. 

Highlights 

  • Risk management features like stop-loss, trailing stop-loss, and stop signals
  • Demo accounts for testing
  • Futures and spot trading
  • Signals based on Bollinger Bands, RSI, and MACD
  • Create bots from scratch

TradeSanta: versatile platform with cheap pricing plans

Pros Cons 
Affordable plansShort trial period
Readymade bot templates
Intuitive interface

TradeSanta lets you create bots using your own configurations as well as copy the templates created by others. Thus, it is suitable for both novice traders and experts.

Bitsgap

Bitsgap crypto trading bot

Bitsgap lets you conduct cloud trading 24 hours a day, 365 days a year, across more than 25 supported exchanges. It has portfolio management features that let you view the live performance of your digital assets. Thanks to the free exchange simulator, you can practice trading without taking any risk. 

Here, you can integrate TradingView charts to make more informed trading decisions. There are multiple in-built strategies you can choose from. Alternatively, you can build your own. You don’t need to download any software programs since this is a cloud-based platform.

Highlights 

  • Multiple order types
  • Pre-built trading strategies
  • Compatible with over 25 exchanges
  • Smart strategy design
  • 7-day free trial

Bitsgap: new crypto platform with advanced tracking features

Pros Cons 
Demo trading functionality Expensive plans
Data import from multiple exchanges
Helpful knowledge base

Bitsgap has one of the best portfolio management systems, and this lets you monitor your portfolio on autopilot. The platform has high-end security and supports different types of orders. However, the pricing plans are not too cheap. 

Quadency 

Quadency crypto trading bot

On Quadency, you can trade in over 1500 digital assets through one platform. It has a portfolio analytics feature that lets you get the complete performance breakdown for live and historical performance. You can view your asset allocations and PnL reports. Thanks to the deep insights offered, you can make more informed decisions.

The popular trading strategies on this platform include Accumulator, Grid, Portfolio Rebalancer, Market Maker, Market Maker Plus, and Smart Order. You can also execute custom strategies by defining alert conditions.  The smart contracts of Quadency have been audited by Zokyo, and security issues were detected.

Highlights 

  • Intuitive user interface
  • Offline wallets for tracking performance 
  • Advanced charting tools 
  • API key encryption
  • Experienced team members

Quadency: highly secure platform offering premium trading bots 

Pros Cons 
Customizable trading interfaceNo margin trading strategies 
Market insights
Integrated market scanner 

This platform supports a large number of assets and lets you keep track of market shifts in an efficient manner. You can customize the layout of the interface based on your preferences. Last but not least, it is completely free.

3Commas

3Commas

3Commas is a crypto trading bot that has trading strategies for different market conditions. The bots available on this platform reduce the average acquisition cost while enhancing your profit margin. With the DCA Short and Long bots, you can take advantage of Bear and Bull markets, while Grid bots allow you to trade in Sideways markets. 

Thanks to the smart trading terminals on this platform, you can set your trades to initiate based on specified triggers. If you are not sure where to begin, there are bot presets designed by experienced traders that you can copy. It is also possible to copy trades automatically by integrating signals.

Highlights 

  • Portfolio investment tool
  • Trading terminal paired with TradingView indicators
  • Short, medium, and long term strategies
  • 18 exchanges supported

3Commas: commission-free platform with advanced portfolio features

Pros Cons 
High-end security featuresLack of information on parent company
Advanced analytics
Large number of compatible exchanges

No matter your trading level, you can work easily with this bot. There are bots for different markets, and the dashboards tell you exactly how your live trades are performing. 

Coinrule 

Coinrule crypto trading bot

Coinrule is a free crypto trading bot platform, but it has paid plans for advanced users. Here, you can build automated trading rules and find market indicators that allow you to allocate your funds in an intelligent fashion. There are over 150 rules to choose from, in case you don’t have the technical knowledge to build one on your own.

The parent company behind Coinrule is quite transparent, and the platform works with over 10 popular exchanges. It offers military-grade security, so you don’t need to worry about the safety of your funds. 

Highlights 

  • Extensive Knowledge Base articles
  • Strategy testing based on historical data
  • Over 150 preset trading rules 
  • Trigger actions based on market shifts
  • Advanced operators and indicators
  • TradingView integration

Coinrule: secure bot offering multiple advanced strategies 

Pros Cons 
Advanced indicators and strategiesMobile app not available 
No withdrawal rights
Historical testing

Coinrule offers a wide range of plans for different types of traders. Beginners can get started with the free plan and strategy templates that require no coding skills. The paid plans come with advanced features that are suitable for pro traders.

Trality

Trality crypto trading bot

Trality is an Austria-based platform that has been featured in renowned online media outlets like The Cointelegraph, Investing.com, Trending Topics, and Der Brutkasten. The unique aspect of this platform is its creator tools. Python developers can use the code editor to build advanced trading bots and backtest them to gauge their effectiveness.

Trality also has a rule builder where you can use Boolean logic to arrange technical indicators and build your own strategies. This platform has a daily trading volume of over 10 million and more than 80k verified users. 

Highlights 

  • Cloud-based platform
  • Official exchange APIs used
  • End-to-end encrypted strategies
  • Multiple ways to build trading bots 
  • Virtual accounts for paper trading

Trality: cloud-based Bitcoin trading bot with flexible rule builder

Pros Cons 
Paper trading for validating strategies Only four exchanges supported
Free plan with high trading volume
Encrypted strategies 

Trality only supports four exchanges, so if you are someone who likes to store their assets on different exchanges, it might not be for you. That being said, it lets users build strategies effortlessly and has some of the most affordable plans. 

HaasOnline

HaasOnline Review: Is It Profitable and How to Trade With It?

HaasOnline has all the necessary tools for it to be deemed the best cryptocurrency trading bot on the market. Building automated strategies on this platform is easy. You can select visual blocks to form a vast library to create indicators and custom strategies. 

HaasOnline has a high-end scripting language known as HaasScript with more than 600 commands. On this platform, you can mitigate risk using simulated trading. You can also earn Bitcoin by referring friends.

Highlights

  • 23 top exchanges supported
  • Zero trading commissions 
  • Advanced scripting language for creating strategies
  • 25% commissions for referrals
  • Cloud management in a secure environment

HaasOnline: advanced bot with high-end strategy builder 

Pros Cons 
Wide range of strategiesNot suitable for beginners
Transparent parent company
Detailed trade and position logs 

HaasOnline is a platform for pro traders and advanced users who can build their own strategies using scripting languages. It lets you tweak your strategies based on changing market scenarios. 

Zignaly

Zignaly crypto trading bot

Zignaly lets you automate your trading process using crypto signals. You can also copy the trades conducted by others in exchange for a monthly fee. There is a profit-sharing model through which you can invest in individuals performing well in the market. This system lets you conduct trades using signals sourced from TradingView.

While conducting trades, Zignaly uses trailing stop losses. It also has DCA-based rebuy strategy options. Copy-trading on this platform is based on a high watermark model. You can start small, and a fee needs to be paid only when you make profits.

Highlights 

  • SAFU fund protecting your investment
  • Database in secure DMZ
  • 2-factor authentication
  • Copy trades of more than 80 pro traders
  • Free service with unlimited coin pairs and positions 

Zignaly: free platform with a high trading volume 

Pros Cons 
Profit-sharing modelSupports a limited number of exchanges
Curated marketplace
No minimum investment amount

Zignaly lets you minimize your risk by diversifying your portfolio and copying the trades of several individuals. It is easy to get started with this platform, and there are no hidden fees. This is one of the few systems that secure the user’s funds.

Best crypto bots summary

After going through this article, you should have a clear idea about the best crypto trading bot for your trading objectives. If you are a novice trader, it is better to get started with a pre-built strategies system. Remember always to test the performance of your trading systems using paper trading. Trading bots can be a great way to explore the market while being assisted by advanced tracking tools.

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