Trading bots have become more common as the bitcoin market has increased in popularity.These are programs that interact with bitcoin exchanges to analyze trading data and then utilize that data to issue buy or sell orders on the user’s behalf.
The bots monitor trades in the markets using a predetermined and pre-programmed set of rules, and they also come with trading methods pre-installed, but the user can also customize the bot to trade crypto according to their preferences. Many trading bots are now accessible, some for free and others for a monthly subscription charge.
In this article, we’ve compiled a list of the best bitcoin trading bots, along with their benefits and drawbacks.
Napbots is an AI-powered and cloud-based service that allows anyone to trade cryptocurrencies, while previously being reserved for hedge funds.
This means that trades can be carried out for you depending on the crypto strategy chosen from the possible variety. These strategies are built by expert traders with over 15 years of experience in terms of quantitative trading at leading financial firms.
Napoleon Group is ruled by the AMF, and its sister company, Napbots, offers a trading bot service that automates the crypto trading process and helps users to raise profit margins and avoid losses. It’s about three years ago that Napbots started working on crypto-trading strategies and released its first strategy to the public in April 2018. Since then 20 more strategies have been launched with basic KPIs for each and templates for testing purposes. For instance, their oldest strategy, “BTC LO”, publish signals for manual trading and its automat is now available and on its way to reach the new ATH.
Furthermore, the flagship strategy BTC/ETH/USD AR surpasses the underlying by 233 % throughout a 12-month period. This strategy is more offensive because it allows shorting. However, previous success does not ensure future results.
In fact, price for Napbots’ strategies is the primary database, and both trend-following and mean reversion methods are provided by the team (weekly, daily, and hourly).
Besides that, the beauty of NapBots is that it is a trading bot for a variety of backgrounds investors. Not only for beginners or casual traders who can simply let the bot do all of the job, but also for seasoned traders who can deactivate “Bot Only mode” and position trades without using the automats of the bot. It is the only bitcoin bot on the market that allows combining strategies.
In a nutshell, based on facts such as market price fluctuations, Napbots will take actions in the user’s position. Never before has it been so easy to trade like a pro. In just three simple moves, you’ll have access to ready-to-trade crypto bots :
For the first leap, NapBots gives the choice over eight of the most popular cryptocurrency exchanges. Binance, Bitmex, Bitfinex, Okex, Phemex, Kraken, Bitpanda, and Bitstamp are among them. And shortly to add CoinBase, Revolut, Kucoin, HitBTC and many more. Such a variety of exchanges offers a high level of liquidity to execute its algorithmic strategies.
Napbots is really easy to connect to your exchange. You just need to generate an API key directly from your account on the chosen Exchange and enter it along your Napbots website.The pricing packages for NapBots offerings are organised into three separate price plans, adapted to all budgets and variable depending on the volume traded. Each package has a trading limit, which can be expanded up to $25,000 by paying an add-on.It will cost between 7 and 99 euros per month, as seen below:
On the other hand, Cryptohopper provides its customers with a cloud-based platform that allows them to manage several crypto holdings across eight main (officially recognized) exchanges. Cryptohopper is officially supported by the following exchanges:
KuCoin- Binance- Coinbase Pro- Bittrex- Poloniex- Kraken- Huobi- Bitfinex
On these exchanges, Cryptohopper’s clients will be able to employ a variety of semi-automated trading tools. The Cryptohopper bot will trade automatically on exchanges with a client’s account once it has been set by a user.
Trading signals are also available on the site to assist you in deciding whether to enter or leave a position. In addition to automated trading, Cryptohopper offers social trading, which allows traders to collaborate to make money.
Cryptohopper will allow you to set up buying and selling parameters on any of the crypto exchanges that support its platform. The triggers that you decide to use can be configured to work in any market conditions, but the platform doesn’t really offer a fully automated trading algo.
Cryptohopper has the following order types/trading tools:
Trailing Stop Loss : It’s a good idea to employ a stop loss order that adapts to the market when a position advances in your favor, so that part of the gains are guaranteed. This is done for you via a trailing stop loss, which Cryptohopper offers as a standard feature on its platform.
Searching for Targets: One of the reasons traders utilize automated programs is that they cannot remain at a trading terminal 24 hours a day, seven days a week. Cryptohopper will be present at all times on all exchanges, aiming to open or exit a position when the market reaches a level that you specify. This is especially useful for traders who can’t make trading a full-time profession but have a strong concept of the positions they want to take.
Reserved Funds: Cryptohopper includes a reserved money option that allows you to set up a certain quantity of tokens to ensure that you always have something stored up in your account. This feature may or may not be beneficial for your trading style, but it is a great tool to have on hand.
Scalp Trading: Scalp trading (sometimes known as “scalping”) is a method of profiting fast from tiny market moves. The scalping process has been automated on Cryptohopper, and the platform will scalp on your behalf based on the settings you provide.
Positive Pair Trading: The trend is your ally, and Cryptohopper has developed a positive pair trading tool to assist you in identifying the greatest trading chances. The positive pair tool on Cryptohopper will hunt for token pairings that have performed well in the previous 24 hours and enter such markets.
Triggers: The cryptocurrency markets move swiftly, and Cryptohopper’s triggers allow you to participate. You may set up triggers to purchase or sell short any of the tokens supported by Cryptohopper, and trade when the market moves in the way you predict.
Short Selling: Selling a token short implies profiting from a drop in its value, and Cryptohopper has made it possible to sell a token short when a trigger point is reached. You may also pick a point at which the position will shut and your profit will be locked in.
Dollar Cost Averaging: The amount that the entire position cost to acquire fluctuates as you acquire a larger position in smaller increments. This is known as dollar-cost averaging, and Cryptohopper’s trading platform includes a dollar-cost averaging function. Dollar-cost averaging may be used in a variety of ways, and you can read more about it on Cryptohopper’s website.
Signalers: As part of its social trading network, Cryptohopper allows third-party traders to serve as signalers. You may look at a signaler’s trading history and decide whether or not to trade your tokens with them. Of course, prior trading success is no guarantee of future profits, but it is a good alternative if you wish to profit from the knowledge of previous traders!
Cryptohopper features a three-tiered price structure, with the lowest tier available for free for a week.
Pioneer Plan: Free Trial for 7 Days
Explorer: Starter package ($19 Per Month) The monthly beginning package will cost $19 USD. With this plan, you’ll be able to manage 80 positions from a pool of up to 15 tokens, with technical analysis done every 10 minutes. With this strategy, you’ll be able to set up two triggers.
Adventure: The Adventure Hopper plan, which costs $49 USD a month, is Cryptohopper’s mid-range option. This plan allows you to trade in 50 different tokens and increases the number of positions to 200. You’ll also get technical analysis every five minutes and have access to five triggers.
Hero: Cryptohopper’s Hero Hopper plan is the company’s most expensive option. It gives you the ability to handle up to 500 positions from a pool of 75 tokens. It costs 99 USD per month and includes 10 triggers as well as technical analysis every 2 minutes. In addition to the rest of the features, the Hero Hopper plan includes cryptocurrency signaling.
If you want to learn more about Cryptohopper, check out their website.
3Commas is a good cryptocurrency trading bot, allowing you to enhance profits while lowering losses and risks. This program allows you to make money with little effort. It allows you to build a strategy using more than 20 trading indicators.
If you’re not yet ready to set up your own trading parameters, 3Commas also allows you to clone another trader’s portfolio. You may choose which traders to follow by looking at their statistics, such as past profit and loss, favored trading pairs, and volume.
In terms of the basics, the 3Commas platform was originally released in 2017 and is owned by a Toronto-based corporation.
You may connect your trading bot to a total of 13 popular cryptocurrency exchanges, including Binance, KuCoin, BitFinex, Coinbase Pro, and BitMEX.
There are four different pricing options to choose from. A free account, a beginning account for $22/month, an advanced account for $37/month, and an all-in Pro account for $75/month are all available. The bundle you need will ultimately be determined by your specific requirements and the extent to which you wish to take your automated trading efforts.
TradeSanta is one of the greatest crypto trading bots available, allowing you to easily manage your risk. This program lets you select the strategy that best suits your trading style. It allows you to establish your profit target and close the deal at the appropriate time.
TradeSanta's system is currently compatible with Binance, Bitfinex, Bittrex, and HitBTC, among other notable cryptocurrency exchanges. This enables consumers to gain access to a wide range of cryptocurrencies via trusted exchanges.In addition, the trading bot is working on expanding its list of exchanges. In the near future, BitMEX, Huobi, and OKEX will be added to its list of supported exchanges.
TradeSanta, like other bitcoin trading bots, offers a variety of price options to its users.The plans start with a free package that includes a taste of practically every function on the site. It then progresses to a premium plan that includes enough power to meet the demands of even the most ardent day trader.
This subscription offers up to 5 free bots and an infinite number of cryptocurrency trading pairs, depending on the exchange you use. It gives Telegram notifications and allows users to view all strategies. The plan also includes general support, however it does not include a dedicated support manager who can assist with day-to-day issues.
This option, which costs $15 per month, brings the total number of bots to 49. The rest of the features are identical to those found in the free plan. This means that the main benefit of paying the extra money is an increase in the overall number of bots you have access to.
This package, which is the most expensive of the service’s plans, costs $100 per month. It distinguishes itself by offering an infinite number of bots as well as specialized support. This is best for day traders who frequently change their plans or trade a big number of digital assets.
When a new user registers up for TradeSanta’s services, they can take advantage of a 14-day Basic plan trial, which allows them to use up to 49 bots for 14 days before reverting to the 5 bots offered in the free plan.
Trality is a platform for those who wish to make money from algorithmic crypto trading without quitting their day jobs. They provide cutting-edge tools for developing incredibly complex, very creative algorithms inside an instructional, community-driven framework that encourages trader learning and development.
Trality’s cloud-based platform allows you to execute trading strategies right in your browser, eliminating the need for lengthy program downloads. Even if you have no prior coding skills, you can construct trading bots.
Trality also allows you to backtest and test your bot with virtual money in real market conditions, so you don’t have to risk your money until your bot has been completely verified. Trality’s Python Augmented Code Editor, which features a user-friendly UI and outstanding Python API capabilities, is available to advanced users.
For the table above, the cost of each payment plan provided on the Trality website in euros was converted into US dollars at the current EUR/USD conversion rate of 1.21.
The following are the extra plan parameters stated in the table:
Trading volume quota: The total volume of all your bots on a monthly basis, which includes all executed buy and sell orders in their fiat currency equivalent. Once you’ve used up 80 percent of your allotment, you’ll get a warning. If your quota is exceeded, the system will only handle sell orders to close open positions.
Smallest tick interval: The smallest tick interval at which your bot can execute transactions is specified in your strategy. Trality supports 1, 5, 15, and 30 minute intervals; 1, 6, and 12 hour intervals; and 1 day intervals.
This row determines the amount of live and virtual bots that can trade in a funded or demo account, according to the pricing plan. It’s worth noting that a single bot can run on a variety of tick sizes and employ various trading methods across several trading pairs.
Bot logs can be utilized to debug actions taken by your bot at specific points in time if you keep them. Most Trality plans save logs for a set amount of time, whereas the most expensive plan keeps logs for an infinite amount of time.