Crypto trading is always changing, and crypto bots are increasingly taking the place of manual trading. A cryptocurrency robot is a computer algorithm that automatically executes trades on your behalf using various indicators and a chart recognition scanner. Automating the trading process is becoming increasingly common in a fast-growing industry like the cryptocurrency market. You can programme cryptocurrency trading bots to determine when to open and close trades if you have the necessary coding skills.
If you aren’t a programmer, you can still get into the world of automated crypto trading by installing or purchasing a free cryptobot. However, be wary, as this type of fraud has become more common in recent years. We’ve compiled a list of the top 5 cryptocurrency trading bots.
Trading Bots
Trading bots are pieces of software that analyse data from cryptocurrency exchanges and provide extra resources for more productive trading.
Bots were designed to help traders automate and simplify their work: instead of constantly sitting next to the monitor monitoring changes in quotations, you can easily set criteria for the bot to buy and sell currency on your behalf. Furthermore, bots begin trading on multiple exchanges and currency pairs at the same time. What can we tell about the bot’s dominance in reaction time – the software detects signals and positions orders quickly and accurately.
What Factors Do You Consider When Selecting Trading Bots?
Just trade with various bots to see what works. Free trials are available on many sites to even get you working with simple bot software and environments. So, if you’re a seasoned trader who knows what resources and capabilities you’re missing, pick a bot that suits your requirements and budget. Compare tool sets, prices, and customer feedback. The list below will assist you in locating “your” bot.
Auto-advantages Crypto Trading
It’s not extremely difficult in any cryptobot, but good trading robots do exist, so they can truly assist you in profiting from regular crypto price changes. Furthermore, as compared to direct trading, crypto bots offer the following benefits:
Crypto Robots take emotion out of the equation. Most crypto traders struggle since they lack sufficient discipline to stick to a trader; You will be able to execute trades more efficiently and at better prices;
The industry or commerce can also identify trend lines that are hard to spot at first sight, so you won’t have to spend all day staring at the computer.
The Top 5 Confirmed Crypto bots Are Listed Below
Bistgap
Bistgap is a cryptocurrency trading robot that uses the GRID system, which allows you to create multiple buy and sell levels. The bot uses high-frequency trading to not only make money from afar, but to diversify risks in the event of high volatility.
Users may also practise trading with Bistgap’s trial version of the network. This is an excellent way to learn how the world worked without putting real money at risk.
Bistgap is publicly listed on Binance and OKEX and supports over 30 exchanges. Since all transactions are made via the exchange API, the platform has no access to your funds.
Hassbot
Haasbot is a paying cryptobot that is well worth your money. This Bitcoin bot, which was created in 2014, is one of the most successful. It employs specialised metrics that recognise candlestick patterns. On all major cryptocurrency exchanges, upwards of 500 currencies are traded. For beginner traders, a Haasbot subscription costs 0.04 BTC for three months (or 0.12 BTC over a year), while seasoned traders pay 0.11 BTC for three months (or 0.32 BTC over a year).
Gekko
Gekko is a free GitHub framework that enables you to build your own free software cryptocurrency robot. You just need to download and instal the programme on your computer. Gekko has a number of useful features that allow you to fine-tune and test your cryptocurrency strategy. The Gekko bot’s only drawback is it’s only for virtual currencies. A small number of crypto exchanges are also supported by the Gekko trading bot (Bitfinex, Bitstamp and Poloniex). All you have to do now is build your own automated cryptobot, and the Gekko trading bot will handle the rest.
GunBot
It is a fully automated cryptocurrency trading bot. Gunbot is a web-based trading bot that can be customised to your risk tolerance and market regulations. Gunbot, like Gekko, is increasingly reliant on digital currencies like Bittrex. Some of the most famous cryptocurrency exchanges include Poloniex, Binance, Bitfinex, GDAX, Cex.io, KuCoin, Cryptopia, and Kraken. The tariff plans for this cryptocurrency robot start at 0.025 BTC and go up to 0.3 BTC for the more advanced version. For the rest of your life, you just need to pay for one licence. Another great feature of Gunbot is that it comes with 32 different investment strategies from which you can choose the one that is most appropriate for you.
Zenbot
Zenbot is a GitHub-based open source cryptorbot. It will open increased trading with arbitrage and is compatible with most operating systems. Gemini, Poloniex, Kraken, GDAX, Bittrex, and Quadriga are among the crypto exchanges that support the Zenbot trading bot, and it should be extended to all exchanges in the potential.
Final Thoughts
Manual trade in the bitcoin price takes a long time and needs a lot of expertise. But using cryptobots makes crypto trading much easier and more profitable. However, before purchasing as well as using crypto bots, you must ensure that the device is reliable and secure. The ratio here between the quality of an automatic crypto bot and the possible benefit you will make from using it determines its efficiency. You’ll be able to benefit from your trading!