fbpx
Eduardo Montero

Author: Eduardo Montero

Last Updated on January 15, 2024

The cryptocurrency market never sleeps. Global and open to anyone, cryptoasset trading is in constant activity. But you, human, are doomed by nature with sleep: at least six hours of the day are spent sleeping, missing out on investment opportunities in this volatile market. Why not use trading bots to trade Bitcoin and other cryptocurrencies 24 hours a day?

You don’t have to stop sleeping. Prolonged sleep inhibition can play tricks on your sanity. It is wise to trade with a cool head and not in altered states of consciousness. In these days when software is king, you don’t even have to use your own head to invest, you just need it to choose the best trading robots – or bots – for bitcoin and other cryptocurrencies.

What are the best crypto trading bots?

Let’s review some of the best cryptocurrency trading robots we can get available today.

CryptoHopper

CryptoHopper, trading bot for cryptocurrencies
  • Founded: 2017
  • Webpage: https://www.cryptohopper.com
  • Friendly and attractive design: 10/10
  • Number of associated exchanges: 17
  • Backtesting: Yes.
  • Support: 24/7 live chat; Telegram, Discord.
  • Free trial: 7 days.
  • Price of the bot: monthly payment of four packages, from free to USD 99 per month. Annual payment lowers the cost.

CryptoHopper is a Software as a Service (SaaS) company that started as a family project by two brothers, one a trader and the other a programmer. In a short time a business grew to a global level.

The software developed by CryptoHopper allows trading cryptocurrencies using a bot called Hopper. Among its main services are portfolio management, mirror trading, strategy design, trading automation, arbitrage, marker making, among others. It can also be connected to signal software to increase the data it works with.

The user experience is simple and no programming skills are required to use the robot. They offer tutorials, guides and other documentation to get started with the platform, as well as a FAQ section that addresses the most common errors encountered on the platform.

The exchanges that can connect to the CryptoHopper API are HitBTC, OKX, KuCoin, Bitvavo, Binance, BinanceUS, Coinbase Advanced and Pro, Bitpanda, Bittrex, Poloniex, Huobi, Kraken, Bitfinex, Bybit. Crypto.com and Exmo.

Try CryptoHopper


3commas

3Commas crypto trading bot
  • Foundation: 2017
  • Webpage: https://3commas.io
  • Friendly and attractive design: 9/10
  • Number of associated exchanges: 16
  • Backtesting: Yes.
  • Support: Telegram; Discord.
  • Free trial: 3 days access to PRO plan.
  • Price of the bot: monthly payment of three packages, from USD 29 to up to USD 99 per month. Annual payment lowers the cost.

3Commas provides a trading terminal and robots to automate trading. Its founders have degrees in computer science, both from St. Petersburg Polytechnic University.

Its most complete service package includes the terminal for trading on several exchanges at once, futures trading, simple robot, composite robot, mirror robot, algorithms for shorts and longs, portfolio management, among others.

As for the user experience in 3Commas, to get the most out of the robots it will be useful for the user to gain knowledge about the different indicators available. It is not necessary to have knowledge of code to interact with the platform.

The available exchanges are Binance, Binance DEX, Binance Futures, Binance Jersey, Binance US, Bitfinex, Bitmex, Bitstamp, Bittrex, Bybit, CEX, Exmo, Gate.io, Coinbase Pro, HitBTC, Huobi, Kraken, Kucoin, Yobit, among others.

Try 3commas


Shrimpy

Shrimpy bot for crypto trading
  • Foundation: 2018
  • Webpage: https://www.shrimpy.io
  • Friendly and attractive design: 7.5/10
  • Number of associated exchanges: 10
  • Backtesting: Yes
  • Support: Web chat and email, Youtube.
  • Free trial: Yes; Zero subscription.
  • Bot price: $0 to $49, with an intermediate plan for $19.

Shrimpy is a trading bot service focused on investor’s portfolio management. In addition to integrations with exchanges, the platform also allows integration with private wallets such as MetaMask or software such as Ledger Live.

The platform allows predetermined and automated trading strategies, such as copying the portfolio of index funds, rebalancing and portfolio management, dollar-cost averaging (DCA), use of deferred orders, etc.

It is possible to link an exchange to the Shrimpy application via an API key. Because of this, Shrimpy does not hold the funds of its users; it only helps to manage them by connecting the account of the exchange in question.

Shrimpy is one of the cheapest options on the market and has a team of participatory developers whose faces are publicly known.

Among the exchanges supported by Shrimpy are Binance, Binance.US, Bittrex, Coinbase, Gate.io, Gemini, Huobi, Kraken and KuCoin. Integrated wallets include 1Inch Wallet, Coinomi, Ellipal, Guarda, Huobi Wallet, Ledger, MetaMask, Safepal, among others.

Try Shrimpy


TradeSanta

TradeSanta Crypto trading robot
  • Foundation: 2018
  • Webpage: https://tradesanta.com
  • Friendly and attractive design: 8/10
  • Number of associated exchanges: 9
  • Backtesting: Yes
  • Support: Web chat, Telegram, Discord.
  • Free trial: 3 days ‘max’ subscription.
  • Crypto bot price: Four plans: free; basic, $13/month; advanced, $23/month; and max, $35/month.

TradeSanta is a cloud-based software that automates trading. There is no precise information regarding where this company is registered, although their terms of service state European Union law. It is also not easy to get information from its founders.

In its most complete service it offers an unlimited number of pairs of robots, unlimited trading volume and all available strategies. It has robots for long and short positions, technical indicators such as Bolinger filters and automators for buying and selling at predetermined prices. It also has an Android and iOS app for monitoring robots.

TradeSanta is focused on usability, trying to reduce the barriers for inexperienced users to embark on automated robot trading. It does this by limiting the sometimes overwhelming amount of functionality that other robots offer.

Some of the exchanges that support TradeSanta are Binance, OKX, Coinbase Pro, Huobi, HitBTC, xGo, Bibyt, and Kraken.

Try TradeSanta


Quadency

Quadency cryptocurrency trading bot
  • Foundation: 2018
  • Webpage: https://quadency.com
  • Friendly and attractive design: 8/10
  • Number of associated exchanges: 15
  • Backtesting: Yes
  • Support: Chat, email, guides; Twitter, Telegram, Discord.
  • Free trial: tier or free level 1: USD 500 or less.
  • Bot price: unlimited bots; bot transaction cost decreases by raising the account level and using QUAD token.

The Quadency bot won’t overwhelm you with thousands of options, but it offers a few methods for you to easily automate your trading from PC and soon from mobile.

This cryptocurrency trading bot allows you to program market, limit and stop orders. You can also upload market charts to the App and use complex strategies such as multilevel RSI, Bollinger bands, mean reversion, DMAC and MACD. You have the option to get an estimate on the possible profit of your strategy with a performance test before investing your money.

Quadency has a free plan, but their paid options allow you to program more trading robots simultaneously and increase your trading limits. The premium account even allows you to create your own bots.

You can connect exchanges such as Binance, OKEx, Kucoin, Poloniex, Kraken or Coinbase. You can also connect bitcoin or Ethereum wallets like Trezor, Ledger or MetaMask to see your balance (but not to operate the App).

Try Quadency


Bitsgap

Bitsgap bot for cryptocurrency trading
  • Foundation: 2017
  • Webpage: https://bitsgap.com
  • Friendly and attractive design: 7.5/10
  • Number of associated exchanges: 14
  • Backtesting: Yes
  • Support: Email, Twitter, Telegram, Discord, Instagram.
  • Free trial: Pro plan for 7 days
  • Price of the crypto bot: basic plan for USD 29 per month, advanced for USD 69 and Pro for USD 149. Annual payment lowers the cost of the plans.

Bitsgap is an easy to operate bot, ideal for those who want to start trading cryptocurrencies with a robot practically ready from the first click. In this case, only from the PC, as it has no mobile App.

This cryptocurrency trading robot offers more than 100 market indicators, including charts and TradingView signals. You can also use the trading signals that shows suggested trading pairs. There are thousands of pairs available.

With this bot you can do arbitrage with cryptocurrencies. That is, you can buy cryptocurrencies on one exchange and sell them on another at a higher price.

You can program market orders, price limit orders and place stop loss orders at the price you determine, which prevents losses in case a cryptocurrency drops too much in price. The three available bots (SBot, Classic Bot and Combo Bot) can be programmed with automated trading strategies.

Bitsgap allows you to trade with several exchages simultaneously, such as Kraken, Binance, Kucoin and OKEx.

Try Bitsgap


Haasonline

Crypto Trading Bot Haasonline
  • Founded: 2014
  • Webpage: https://www.haasonline.com
  • Friendly and attractive design: 7/10
  • Number of associated exchanges: 23
  • Backtesting: Yes
  • Support: Live chat; web tickets; Discord, Telegram.
  • Free trial: free public demo server.
  • Crypto Bot price: three packages from 0.006 to 0.014 BTC quarterly. Annual payment lowers the cost of the plans.

Haasonline is one of the oldest bitcoin and cryptocurrency trading bots out there. It was launched in 2014 by Stephan de Haas and Quintus de Haas, founders of HaasOnline, both trained in software engineering.

The most comprehensive plan allows running as many bots as the user wants simultaneously, including trend line bots, scalpers, ping pong, accumulation bots, market making, flash crash bots, among others.

Haasonline is one of the most feature-rich software, so advanced traders can get a lot out of it. Its product is oriented to advanced users with programming knowledge, but it also has visual editors that allow its most basic users to design technical indicators and trading strategies in an intuitive way.

Among the supported exchanges are Binance, Bitfinex, BitMEX, Bitpanda, Bitstamp, Bittrex, CEX.IO, Coinbase Pro, Deribit, Gemini, HitBTC, Huobi, Ionomy, Kraken, KuCoin, OkCoin, OKEx, Poloniex, among others.

Try Haasonline


Wallstreet Forex Robot 3.0

Wallstreet Robot 3.0: Bot for trading crypto and Forex
  • Foundation: 2022
  • Webpage: https://www.wallstreet-forex.com
  • Friendly and attractive design: 7
  • Number of associated brokers: only brokers using ‘Metatrader’ version 4 or 5.
  • Backtesting: demo account after purchasing the product.
  • Support: Message via website, YouTube, Facebook.
  • Free trial: 60 days to refund the product.
  • Crypto trading robot price: three packages: from ‘basic’ (USD 297) to final (USD 427).

Wallstreet Forex Robot 3.0 is the latest version, released in 2022 by FXautomater, of a software containing one or more EAs (expert advisors) and running on the ‘Metatrader’ trading platform in version 4 or 5.

With this bot, it is possible to trade Bitcoin and cryptocurrencies on all brokers that support digital assets and are based on the latest versions of Metatrader.

Wallstreet Robot 3.0 has trading tools such as market bias algorithm, broker spy module, negative slippage protection, news filter, among others.

Although this robot’s packages are priced well above the competition, it is a one-time purchase. It is, therefore, the purchase of the bot and not a monthly or annual subscription, like the other services mentioned in this list.

There are many brokers on the market, many of which use the ‘Metatrader’ platform. Oanda, FBS, Fpmarkets, Bybit, Hugo’s Way FX, Eightcap, XBTFX, IG Group, Roboforex, among many others.

Test Wallstreet Forex Robot 3.0


What is a cryptocurrency trading robot?

What is a trading robot? Well, a worker, more efficient and dispassionate when it comes to investing. Specifically, it is software. They are programs that buy and sell cryptocurrencies at the most lucrative time, as they monitor the market and react according to certain predetermined rules.

How effective are these bots compared to manual trading, asks the human? Well, these bots are punctual and accurate; they don’t hesitate, they are not afraid, they don’t eat, sleep or go to the bathroom. Basically, they are like a colony of mechanical ants, or like Da Vinci’s realized fantasy of owning an automaton to do the unpleasant work for him.

A trading robot for Bitcoin and cryptocurrencies can have two main uses. First, to simplify and automate the investment process. The bot can take care of diversifying your portfolio, building indexes, rebalancing your investments, among others. Secondly, the trading bot can compete in the market to maximize profits.

How to use a crypto trading bot

One of the best ways to take advantage of a trading robot is when you need something – or someone – to take care of repetitive tasks that consume a lot of time and effort. That’s when a trading robot brings out its potential.

Then, most bitcoin and cryptocurrency trading robots work by linking the software to some crypto exchange. In this link you can check which are the best no kyc crypto exchages. It is necessary, then, to do a proper research on the robot that we are going to use because it will have access to our funds. Do not forget that there are plenty of hackers and scammers on the Internet.

These are some examples of functions that trading bots can perform, although it depends on the service:

  • Program the robot to rebalance your portfolio every hour (adjust the relative weight of your investments);
  • Analyze the market and, according to preset parameters, automate the opening of operations with a certain risk and potential profit;
  • Monitor price variations between exchange houses when making arbitrage;
  • Simplify routing strategies between various exchange pairs.

“Can I trust a trading bot?”, you may ask. Well: just because a bot works automatically doesn’t mean you can pick any one and walk away from the job.

In reality, a trading bot is nothing more than an ‘executive amplification’ of your own brain, and while it might know some trading strategies that you don’t (e.g., buy when the MACD indicator shows bullish strength in a move), such a bot will only be as good as your ability to set it up.

A trading bot is therefore not risk-free. Even though they are more accurate and disciplined than humans, they still possess margins of error. Many scams also disguise themselves as cryptocurrency bot services. Just because a bot is not on this list does not mean it is a fraud, but be wary and do your research.

How to choose a cryptocurrency trading bot

There are different types of trading robots useful for various currency markets, such as Forex, or capital markets, such as stocks, and even for derivatives markets, which include futures trading. Cryptocurrencies, of course, are assets that can be traded using bots. These bots can fulfill various functions, depending on the purpose you want to give them:

  • There are those specialized in arbitrage;
  • Some do market making and place several ‘buy low and sell high’ orders for the same asset;
  • Some automate portfolio management;
  • Others do technical trading, using indicators and signals to predict future price movements;
  • There are also copy trading bots, which mimic the investment strategies of other traders.

Configuring a trading bot will vary depending on the type of robot chosen. Some platforms have services for beginners, such as signal bots (a tool very similar to copy trading) for which you do not need technical knowledge.

Using a signal bot is very simple as it requires only to fund the wallet of the platform in question and select a suitable signal provider. The bot will process these signals and act on them automatically.

Running a full-fledged bot can be more complicated, though by degrees. If you want to be the one to configure the bot to customize its performance, this way allows you to have more control over its behavior and dissipate more unpredictable consequences.

Running a full-fledged bot, of course, requires knowledge of certain statistical trading indicators and how to interpret them. You will also need to know how to create buy and sell orders with a relatively high level of specificity.

Running a trading bot does not require knowledge of software or programming; most of these services come suitable for the normal user. Some services even come with the ability to adjust the level of risk the bots will take when trading, all in an easily customizable way.

Whichever type of bot best suits your objectives, there are certain general criteria that you should take into account when choosing a specific software:

Credibility of the team that programmed the crypto trading bot

Who is behind the development of the crypto trading bot? How long have they been operating? Is the company registered in any country, protected by any law? What is the work experience and qualifications of its members? Has the software demonstrated efficient, error-free operation?

These are some of the questions you can ask before choosing a crypto trading robot, for which it is important to do your own research. The more transparent the company is, the easier it will be to trust their product. All in all, remember that in the cryptocurrency ecosystem many people are jealous of their privacy, so sometimes it will be difficult to get information.

Crypto trading bot performance

Many robots for traing cryptocurrencies offer a trial period before the paid versions. Take advantage of this time to test how the robot would have behaved with respect to historical market data. Try to do this as realistically as you can, considering latency, trading commissions and other aspects.

You can also take advantage of testing how the robot would behave with your current trading strategy. Some robots allow you to simulate your strategy in real time with test money so as not to risk your investment.

Crypto bot price

The price range of a cryptocurrency trading bot can go from zero to a thousand dollars a month. It should be taken into account that sometimes cheap is expensive, and the free subscription to some of these services has severe limitations.

With some free service packages you will only be able to, for example, set up one bot at a time, or you will not have the option of backtesting. Also, the number of orders you can open and close may be limited with such an account.

It is also true that the prices of these services may be inflated. In any case, it is best to evaluate the pros and cons depending on your trading strategy to determine what price you are willing to pay.

Technical support

It is useful to know if the team behind the project offers efficient support to solve doubts or problems. It adds extra points that there is a community of users of the crypto trading bot in social networks with whom you can discuss your concerns, and also evaluate the support provided by the team in their communication channels.

It is also important to know how effective the team is in correcting bugs in the robot’s code, as well as its history of software errors.

Ease of use of crypto trading bot

Although in the cryptocurrency market a lot of knowledge usually coexists and there is a tendency towards polymathy, not every trader needs to know about software. When it comes to setting up a trading bot for cryptocurrencies, things can get complicated for someone just starting out.

For this reason, it is best to choose a crypto trading robot that aligns with your level of experience. For beginners, it’s best to start simple so you don’t get bogged down with a bunch of tools that you don’t know how to use.

I hope you found the article useful. You can follow our published articles about crypto (like this: crypto exchanges with lowest fees) and also others related to this list of the best prop firms for cryptocurrencies or this one about the best prop trading firms for EAs.


Eduardo Montero

Author: Eduardo Montero

I'm Eduardo Montero. Computer scientist by profession and passionate about online trading with more than 10 years of experience in the financial markets. I'm the author of hundreds of articles published in other websites about the online trading industry. Learn more about me here: About the author.


DISCLAIMER: All of 5bestproprietarytradingfirms.com contents posted on this web pages are based on "My" and "Our" opinions alone and are only for information purposes. You should not take any of this information as guidance for buying or selling any type of investment or security. "I","We" and "Us" are not a financial advisor and anything that have been posted here on this site should not be seen as financial advice. "I","We" and "Us" are only sharing biased opinion based off of speculation and personal experience. An individual trader's results may not be typical and may vary from person to person. It is important to keep in mind that there are risks associated with investing in the stock/forex market and that one can lose all of their investment. Thus, trades should not be based on the opinions and information of others that are put on the internet such as this page, but by your own research and due diligence. Any financial losses incurred will be at your own risks and the people behind this site will not be held responsible. The information about prop trading firms or Forex trading firms is indicative and has no contractual value and may be out of date or may not correspond to the current conditions of each company.