Crypto Trading bots enable crypto investors to automate the purchasing and selling of positions based on important technical indicators.
Crypto trading bots based on artificial intelligence (AI) tactics are gradually making their way from institutional to retail traders. Crypto trading has grown to be a multibillion-dollar sector that provides constant returns despite the impact of external market conditions such as the epidemic.
Currently, artificial intelligence is being used to manage billions of dollars worth of conventional assets, such as stocks and bonds. Although AI is not yet widely used, it is anticipated that it will soon reach new heights in the cryptocurrency market.
Artificial intelligence (AI): What is it?
Artificial intelligence (AI) is an area of science that gives machines or software the ability to learn from data and give analyses, assessments, or results based on the information. Other fields of synthetic intelligence, such as machine learning (ML), artificial neural networks (ANNs), and deep learning (DL), are examples of typical AI applications.
An AI system can use one or all of the aforementioned methods in various ways depending on the use case of an application.
What is a Crypto Trading Bot?
The term “crypto trading bots” refers to a group of programs that are used to automate trades. In essence, they are trade-specific algorithms that are run to produce certain results.
A crypto trading bot is a computer software or application that executes cryptocurrency trades on your behalf depending on predetermined conditions.
How does AI crypto trading bot work?
Artificial intelligence (AI) trading bots for cryptocurrencies function by outlining potentially profitable deals across several markets utilizing their analysis and projections. At the same time, they are also capable of carrying out these trades independently without the need for your involvement in a significant way.
This implies that when you utilize an AI-powered cryptocurrency trading bot, you won’t have to put up with time-consuming tasks like poring over digital charts or analyzing past data to figure out how to navigate the market. Instead, you can just select your AI bot and let it analyze the market to decide what strategy is best for you.
The majority of cryptocurrency trading applications operate simply — you give the bot permission to purchase or sell an asset if and when it reaches a particular price point or signal. You don’t need to keep an eye on your platform all day to check when these price movements are attained because your bot will take care of placing and carrying out your order.
5 best AI Crypto Trading bot review
In this article, we are going to review five (AI) crypto trading bots. They include:
- Cryptohopper
- Haasonline
- 3commas
- Tradesanta
- Bitsgap
Cryptohopper
CryptoHopper is a cloud-based cryptocurrency trading bot that uses an algorithmic, programmed trading strategy. It enables users to use outside signals to make smart trades and engage in profitable cryptocurrency trading.
It was launched in 2017 by two Dutch brothers, Ruud and Pim Feltkamp, as a simple way to trade Crypto 24 hours a day, seven days a week.
It is ideal for both novice and experienced traders. It supports 9 major cryptocurrency exchanges, including Coinbase, OKEX, KuCoin, Binance, Kraken, Huobi, and many more.
It allows you to use both free and paid signals from various sources. Additionally, it uses over 90 candle patterns and over 30 trade indicators. It trades more than 75 cryptocurrencies in addition to Bitcoin and is operational around the clock.
The platform’s semi-automated trading bot enables users to remove human tendencies and emotions, which enhances the trading process.
Features
- It provides for the free use of trading bots, allowing you to build and test your own.
- It offers a variety of trading tools including trailing stops, programmable technical indicators, configurable and saveable templates, and backtesting tools for bots.
- The platform is a web-based solution (there are no mobile or desktop apps) with a user-friendly interface.
- It depends on automated trading strategies and technical-based trading algorithms.
Price: Free trial and $19, $49, or $99 per month depending on the package.
Haasonline
One of the oldest and most famous trading bots for cryptocurrencies is HaasOnline. It is well-liked by seasoned traders who come from the stock and currency markets and aim to increase trading effectiveness and profitability. You can utilize platforms, connect to exchanges, and locate crypto exchanges utilizing the bot’s API keys.
HaasOnline helps you to swiftly design, backtest, and deploy high-frequency crypto trading bots across dozens of cryptocurrency exchanges. The pre-programmed features of the trading bot enable it to assess trends and choose the appropriate actions. By continually improving trading bots, the platform claims to maintain the best grade of technology.
Using your HaasScript programming language, you are able to develop, test, and improve trading strategies from scratch. As a result, you can create trading strategies that are extremely complex. It is ideal for advanced, institutional, and leveraged trading.
Features:
- It has 15 unique bots that enable you to apply scalping and other trading tactics. Utilize tactics such as dollar-cost averaging, arbitrage, backtesting, paper trading, and others.
- It uses various order types on various exchanges and develops fictitious order templates.
- It uses market information, charting, and other tools to automate cryptocurrency trading.
- It supports Android and iOS operating systems through specialized apps.
Price: There is no trial plan, however, a 2-week trial license is available for 0.001. The entry-level license tier begins at 0.047 BTC.
3Commas
3Commas enables users to create automatic trading bots and trade with them on the majority of the main cryptocurrency exchanges – in fact, 22 cryptocurrency exchanges. With this, you may implement TradingView to obtain signals from outside sources and use dollar-cost averaging tactics.
Additionally, you can perform portfolio analyses and copy trades; the latter is advised for both novice and experienced traders. With 3,000 users, this crypto trading bot conducts more than $10 million in daily trading activity.
According to various market conditions, they have many bots designed for bear, bull, or sideways markets that can be utilized.
It provides DCA Short bots to borrow, sell, and acquire tokens back at a reduced price during bear markets.
In bull markets, it employs DCA Long bots to purchase natural dips and sell spikes as the price rises over time, resulting in a better average entry price for your positions.
For sideways markets, Grid bots can be used to purchase tokens at a discount when they reach support levels and to sell them when they approach resistance levels.
3Commas stands out because of its versatility, usability, and abundance of options.
Features:
- Using risk management techniques, the Smart Trade trading interface enables users to purchase or sell numerous pairs of digital currencies.
- You can specify a variety of order types, such as limit, trailing, market, take profit, stop loss, and other forms of orders.
- Both iOS and Android mobile devices are supported.
Pricing: Pro costs $24.50, Advanced costs $49.50, and Starter costs $14.50 with no trading bot option.
Tradesanta
TradeSanta’s cloud-based crypto trading program is suitable for both novice and experienced traders, and while it operates 24/7, you do not need to be present to benefit. It can be connected to a variety of cryptocurrency exchanges, including Binance, Huobi, and others, just like all the other trading bots on this list.
It is suitable for both long and short-term trading. It enables the employment of both long-term and short-term strategies, a variety of indicators, and attentive support personnel. You can utilize the DCA or grid bots with this software, or you can use Smart Order to place orders.
One further benefit of TradeSanta is that there are no strict volume restrictions, so you may buy and sell a lot of cryptocurrency without experiencing significant price spikes or losses.
Features
- It utilizes the most extensive plan to run an infinite number of bots.
- It uses a variety of indicators, such as the RSI, MACD, and Bollinger Bands.
- In addition to the web platform, Android and iOS are supported.
Pricing: The free basic package can only have two bots. The minimum paid plan is $10.5/month for a maximum of 49 bots, while the highest paid plan costs $70/month for an infinite number of bots. Before paid subscription options, there is a 5-day trial period.
Bitsgap
Bitsgap provides portfolio management, algorithmic orders, free demo mode, and crypto trading bots all in one location. This has several wonderful advantages, including making it simple to carry out strategies and simultaneously deploying cutting-edge bots across platforms.
You may connect to more than 25 cryptocurrency exchanges using the Bitsgap trading bot to execute automated trades. It has a 14-day free trial period and lets you sign up or connect with your Facebook or Google accounts. In fact, you can use a demo exchange to test out the features before purchasing the advanced plans.
It works best for arbitrage between different cryptocurrency exchanges. With it, you can engage in cross-exchange arbitrage, and by receiving accurate market signals in a timely manner, you can make smart trading choices.
Features:
- You can optimize pre-configured trading bots via backtesting in both bull and bear markets.
- It provides trading in arbitrage across many exchanges.
- It provides tracking and administration of portfolios.
- Only web-based. No Android or iOS devices.
Pricing: The basic paid plan has a monthly fee of $19, the advanced paid plan is $44, and the pro paid plan is $110.
Conclusion
A cryptocurrency trading bot enables you to profit from the market’s fluctuations around-the-clock and ensures that deals are executed as soon as your predetermined conditions are satisfied.
Choose the platform that best meets your demands before beginning to use a crypto trading bot. There are several possibilities available on the market right now, so you can pick the trading bot that best suits your requirements.
Choosing the best crypto trading is crucial because you shouldn’t entrust your money to a substandard trading bot. It’s also a good idea to start a free trial before subscribing to a trading bot, if possible. This will help you decide if the automatic trading software is the appropriate choice for you.
