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Automated Cryptocurrency Trading: Top 4 Trading Bots For Newbies And Experts


Trading cryptocurrency is quite difficult for newbies and experts alike. Little wonder, various traders often rely on crypto trading bots, which trade automatically. Whether as a newbie or expert, you can’t deny the rise of several trading bot platforms that help in automation.

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Basically, these trading bots are built, designed and managed by top-flight financial institutions with sophisticated real-time specifications that are powered by advanced algorithms that are too complex to understand how these bots work in practice.

Although, trade bots are still nascent in the cryptocurrency world, it has gained notoriety among traders due to their benefits, such as access to real-time data, 24/7 access to large trading markets and multiple exchanges, time and cost-effectiveness and so many others. In this article, we shall review the top 4 trading bots for crypto traders.

  1. Cryptohopper

The first on the list by popular votes among expert crypto traders is Cryptohopper. This trading bot was launched in 2017 and has traded on behalf of 140,000 traders since its inception. The trading bot is a Bitcoin-enabled bot that carries out 24/7 trading operations, supported by nine exchange platforms, and you have the option of trading up to 75 different pairs. If you wish to create your pre-programmed bot founded on your proven trading strategies, Cryptohopper offers a substantial number of variables. This includes everything from:

  • bull and bear market signals
  • consolidation period trading
  • trailing stop-loss orders
  • dollar-cost averaging.

The Cryptohopper offers users to build their bots with its easy-to-navigate interface. The trading bot provides a “drag and drop” platform that has nearly the same interface with Microsoft Excel’s “IF/THEN” function where you will need to tell the bot what to do in specific situations. Further, the Cryptohopper interface will let you know if a certain trigger has been plopped in error, which is neat. Most importantly, Cryptohopper has a fully functioning pre-live testing arena. This is critical, as it allows you to test and adjust your Bitcoin trading bot before it is released into the wild. This bot operates on various plans – Explorer Hopper, Adventure Hopper, and Hero Hopper plan – which sell for $19, $49, and $99 per month, respectively.

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  1. 3Commas

This trading bot, a rival trading bot to Cryptohopper, was established in 2017 and was designed for all experience levels. The trading bot provider allows users to trade on the 13 leading cryptocurrency exchanges such as Binance, Bitcoin, BitMEX, Coinbase, and so on. 3Commas offers you the opportunity to build your strategies from the ground up or purchase a pre-existing strategy from the online marketplace.

3Commas offers a series of potential strategies, triggers and orders, which is why it’s popular among expert traders. Because the Marketplace comes stocked with pre-built algorithms, which is very important for those with little trading experience. The free package gives you vistas of strategies as well as Marketplaces. However, the paid packages go for $750 per month. Therefore, the free package is best suited for those that want to run a free demo. There are also the Start, Advanced and Pro Plans, which cost $22, $37, and $75 per month respectively.

  1. HaasOnline

This automated trader provider began operation in 2014, giving it a three-year headstart over previously discussed providers. HaasOnline is said to be more comprehensive than 3Commas and Cryptohopper, especially with respect to the number of supported exchanges, key market indicators, and trade limits. This provider is relatively expensive. The Beginner, Simple, and Advanced plans come with an annual cost of 0.10 BTC, 0.14 BTC, and 0.18 BTC, respectively.

  1. LiveTrader

LiveTrader is a Bitcoin trading bot with loads of custom-made trading techniques and strategies, which also allows you to install over 250 different indicators into your pre-built bot, including key technical like RSI and SMA. Also, the platform provides a market that comprises over 1,000 various strategies. In terms of pricing, the plans run from $15, $39, and $79 per month. You can also take LiveTrader up on its 7-day free trial, which should be enough time for you to assess whether the Bitcoin bot provider is right for you.

Featured Image Source: Nominex

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Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.

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