Crypto trading bots allow users to trade cryptocurrencies automatically using a predetermined trading strategy. These bots can be cloud based or server based. Non-cloud based bots require traders to keep their computers or servers running at all times in order not to miss trades.
The best bots for cryptocurrency trading are preprogrammed to make proper trade decisions unaffected by price fluctuations and emotions. They also help with repetitive tasks like manual trading.
Cryptohopper
Cryptohopper is a platform that allows users to create and manage their own trading bots. It offers a simple, easy-to-use interface and real-time performance reports. It also provides advanced features, such as backtesting and a variety of tools to help you improve your trading skills. Its platform also serves as a marketplace for strategies, trading bot templates, and insights.
It is important to note that a Cryptohopper bot only performs as well as the person who programmed it. This means that a poorly designed strategy will almost certainly lose you money, while a well-designed strategy can be the gateway to recurring profits.
Unlike some other bot services, Cryptohopper does not require you to upload any funds to the platform. The bot will simply execute trades from your external exchange account via its API. This process varies from exchange to exchange, but you can typically find the required API information within your account settings.
Pionex
Pionex is a cryptocurrency trading platform that offers automated crypto bots, but also allows manual trades like any other exchange. It was launched in 2019 and currently handles over $30 million per day. The platform has a number of different bots available, including the GRID bot, DCA bot, and Twap bot. The GRID bot uses an old but powerful trading strategy that leverages the volatility of the crypto market to increase profits.
The company has a range of advantages, including low fees, 16 free automatic trading bots, and an all-in-one mobile app. Users can deposit a variety of coins and tokens onto the platform and use them to trade or simply HODL. The company also holds a US MSB license with FinCEN, giving it a level of legitimacy that many competitors cannot match. However, it is important to remember that all trading strategies have risks and there are no guarantees of success. This is especially true when it comes to automated trading bots.
TradeSanta
TradeSanta is a legitimate cloud-based service that automates cryptocurrency trading, saving you time and letting you focus on your business. Its free 5-day trial allows you to try the software before making a commitment. It supports a wide range of programmable parameters and features easy-to-understand strategies and templates. It also offers transparent analytics and Telegram notifications for all open positions.
It has a high customer support rating of 4.2/5 on Trustpilot and is based in the UK. The company is also active in the crypto community and works hard to resolve issues that arise for users.
The platform is reasonably safe, as it requires two-factor authentication and only trades on exchanges with high security standards. It uses a unique API key to prevent hackers from accessing users’ funds or withdrawing them on their behalf. It also conducts regular security audits and encrypts user data to avoid hacking attempts. It also has a number of helpful guides and tutorials for beginners.
Trality
Trality is a cryptocurrency-focused automated algorithmic trading platform that allows users to build and run crypto trading bots without the need for specific equipment or advanced coding knowledge. Its ‘Rule Builder’ makes it easy for traders to construct their own trading algorithms with simple drag-and-drop. Python experts can also benefit from a fully functional, browser-based code editor that includes a debugger and access to popular libraries such as NumPy, Pandas, Tulip, and TAlib.
Users can use the platform to rent profitable bots that match their risk tolerance and investment goals. The marketplace features a suite of metrics that help them compare and select bots based on their performance. However, the User expressly acknowledges that any created Bot, even if backtested, does not guarantee economic success. Moreover, the value of Cryptoassets is subject to general market risks and thus may fluctuate in price. Consequently, any losses incurred in using the Bots are the User’s responsibility..
