Here Are Bots You Can Use to Automate Cryptocurrency Trading

 Crypto prices are volatile and that means a price change in almost every other minute for any crypto pair. Ideally, doing a manual trade every minute for all your portfolio pairs is technically impossible. Although it is debatable on which bots can do minute-by-minute trades, a bot can not only execute trades at a better speed at which prices are changing, but it can do more than that do quick trades to respond to price change: it can do arbitrages across multiple exchanges, perform trades across multiple exchanges.

At this point in the history of the blockchain space, you can see why bots are responsible for a huge amount of trading volume in crypto industry and that's not to mean they are being used to inflate volumes as has been claimed: the fact is that a bot is much better at following minute price changes and can perform several trades and trade instances multiple times than any manual method within any specific duration even as prices change within no time. That's the main reason why bots suit a volatile market.

Crypto trading requires a variety of tools; wallets, charts, news aggregators, crypto exchanges, portfolio managers and price trackers and watchers. While a good market is only as good as the emotions it may come with, sometimes this may not hold when you're on the losing side. Alongside using the other typical tools, automating crypto trading is a great option for those who want to remove negative and overly positive emotions from their trading because they can affect your trading decisions.

Let's face it: most of the trading volume in such a volatile market are driven by emotions so everyone has their hands on panic selling, greedy buying, fear of missing out, etc. With automated trading, you get to pre-define buy signals, stop loses and profit targets and all well beforehand. These pre-sets are executed automatically and you do not have to get too cocky on winning or from trying to overcompensate trades while on a losing streak.

Automating your trading strategy allows you to test your performance and strategy against years of historical data to determine how profitable and risky it is. That too can be done automatically with many crypto auto-trading tools out there. You can then change or reinforce the strategy based on that data. A third advantage for automating crypto trading is that trading bots can run non-stop across many markets and the fact that it does not shut down even as you go to sleep it offers the potential to increase profits greatly. You are able to configure and execute strategies across multiple trading pairs. Besides, you get a huge amount of time to look and re-look at your strategy instead of involving yourself with minor things. If you are busy, you might find automation very important.

Another important advantage for automating trading has already been mentioned in the passing: allowing you to improve trading speed and order execution. A trading bot will execute trading strategies faster than you can do, whether you are talking about entering or exiting positions or whatever else thing you might want to do. It will automatically log across multiple exchanges faster and do trades multiple times than you could do with your hand. Automation also allows you to get detailed trade reports and live notifications while automatically calculating your gains without the pain there would be when doing it by hand. Many programs come with dashboards to summarize profits, losses and other data for your strategies.

Nevertheless, an important part of the automating of cryptocurrency trades is learning what exact features, tasks, and activities you would need to automate and then selecting the right tools to do so. Bear in mind a good number of bots are scams and many others untested, so be careful. Below I compiled some of the tools you might come across when wanting to automate cryptocurrency trading, their features, benefits, and challenges. This list is to give you a good starting point for research into a good bot and a recommendation is that it should not be taken as an endorsement for a particular tool. But some are known to work so, yes.

Depending on a particular automation tool, you might require ample programming skills to automate your trading and some are actually hard to do for newcomers. So in some cases, you may need to select those that suit your particular level of skills and as you progress you might need advanced ones. Nevertheless, many are suitable for both advanced and beginner levels since they are not hard to use or understand.

3commas

3commas is a cryptocurrency trading bot and portfolio re/balancer with which you can connect a bot to your crypto exchange accounts hosted on the Binance, Bittrex, Bitmex, Coinbase Pro, Bitfinex, Bitstamp, KuCoin, HitBTC, CEX, OKEX, Huobi and YOBIT and Poloniex exchanges, all on a single interface. In doing so, you then have the ability to execute trades on these exchanges simultaneously.

Once you register with the bot, you get access to a dashboard from where you can control many and different features as well as monitor prices and other crypto data. Further, the bot allows traders to execute concurrent stop loss and take profit orders where the trader can use SmartTrade to open both of these types of orders simultaneously. With these types of orders, a trader can then buy or sell their crypto when prices reach a particular set target, and they can set a step take profit for the order.

Trailing orders allow you to automatically change TakeProfit and StopLoss targets, where the trailing mechanism allows you to auto-follow the market price and close the position with the best price possible. For the case of Long Bots with Trading View, you as a trader can also set up DCA bot and choose a variety of sources from where to get different signals (from signals providers) and you can choose from multiple time-frames or use composite signals. These are more suitable for bull markets, unlike the short bots that are more suitable for the bear market. The latter (short bots) allow you to buy low and sell high by opening and closing positions automatically.

You are also able to use QFL bots to automatically benefit from QFL technical analyses, instead of having to analyze the graphs yourself manually and set up the trades manually and trade strategies manually. A composite bot allows you to trade multiple pairs using a bot.

Besides, you get notifications about the condition of your orders and strategies, notes for the orders, and a trader's journal (auto summary of your trading stats from all exchanges in one convenient report).

3commas is also accessible on iOS and Android devices as well as a web platform.

3commas allows you to try the bots before deciding whether to sign up for an advanced plan that goes for $37 per month or for the Pro plan at the cost of $75 per month. There is also the Enterprise option whose pricing is known by contacting the company.

Autonio

Autonio is an Ethereum-based, decentralized artificial intelligent trading system which entered beta testing phase this year, and which utilizes 30 key trading indicators. With Autonio, users are able to formulate their own custom strategies for trading crypto using the tools and rigorous market analysis capability of the platform. Traders can also choose to follow other successful traders in order to copy their strategies and to make the most of their cryptocurrency trading plans. It also features a marketplace on which users can sell and buy verified algorithms. These algos, according to the website can return a weekly return of 10% or greater.

The crypto trading bit allows traders to make their own algo or strategies with 20 different technical indicators (including RSI, MACD, EMA & Bollinger Bands), choose dozens of coin pairings, and trade on their own custom time intervals from one minute to one day.

It also allows users to backtest the strategies they come with from different indicators and users can connect it to and trade crypto on Binance, Bitfinex, Kraken, Bittrex, Bitstamp, Bitshares, and CryptoBridge exchanges which they can connect via APIs.

The team is developing a trading terminal that is friendly for use by both professional and amateur traders in trading cryptocurrencies more effectively.

Autonio is a platform that also features own altcoin which can be used to pay for algorithmic strategic and to pay for a monthly fee. Users can pay as little as $50 monthly subscription using the platform token in order to run the live trading system on local computers and Virtual Private Servers.

At that cost, this bot is a great alternative for traders compared to many other expensive algos and trading bots, some of which can cost upwards of thousands of dollars to do meaningful live trading with. Besides, some require the use/trader to have extensive programming skills and knowledge. This will not be so for Autonio.

Autonio can be used on Windows, Mac OS, Linux, and Android.

BC Trader (Bitclub Network)

BC Trader is operated by Bitclub, which is one of the longest standing top Bitcoin mining companies in the world. BC Trader bot utilizes AI to execute micro-trades based on an individual's trading strategies per coin pairs and risk tolerance. It started with the integration of eight exchanges namely Binance, bitFlyer, Bitfinex, Bittrex, Coinbase Pro, HitBTC, Korbit, and Kraken to which users can connect the bot via simple API. Once the user connects to the exchanges via APIs, they are ready to use the account based on their customized strategy settings, with funds retained in their own crypto exchange accounts for safety and funds security.

In addition to performing most trading tasks, a trader is able to constantly tweak, start, stop and modify his or her overall trading strategy to maximum results.

BC Trader features different packages that cost differently from $500 for a Trial Pack package that allows one to trade up to 3 pairs on/in 1 crypto exchange and trade up to $2000 in max limit; $1,000 Trader Pack that offers up to 7 trading pair options tradeable on 2 exchanges and on which package one can trade up to $5,000 max; $2,000 Elite Trader Pack with which one can trade up to 15 trading pairs on 5 exchanges and trade up to $15,000; or up to the $3,500 Founder package that allows one to trade up to $100,000 per day with unlimited pairs and on all exchanges supported by the bot.

BTC Robot

BTC Robot runs on Windows Vista/7/8.x & 10 or over a VPS from FxChoice if you are running Mac device. The subscription costs $19.99 monthly, which allows a trader to run the robot on ONE MT4 broker of their choice. The Gold plan allows a user to have two licenses on FxChoice and one other MT4 Broker of their choice. It costs more at $39.99 monthly but delivers double profits. The Platinum Plan costs $399 one-time for one year and the robot is installed on the Metatrader of FxChoice or any other three of their preferred brokers.

This robot comes with a 60-day money back guarantee and can be tried for 60 days, risk-free.

From the various reviews (an example on this site), the 60-day money back guarantee is a plus but the profits gotten are not as advised on the bot website, although as would be expected, profits gotten would depend on the settings and individual's skills, knowledge and ability to come up with strategies that work.

CryptoArbitrager

CryptoArbitrager is a software solution that allows traders to make money based on the difference between rates of cryptocurrencies by implementing what they call statistical arbitrage or market neutral strategy. According to their website, they employ cointegration of financial time series first proposed by Nobel Laureate Robert Engle.

With this strategy, it will not matter whether the market price is falling or rising, the robot will earn profits based on the difference in prices by hedging open positions. It allows traders to execute orders via MetaTrader 4 which offers a stable testing environment (they chose JAFX broker as a Bitfinex liquidity provider).

Besides, it does not work like a black box without trackability: traders are able to analyze and choose conditions for themselves.

Furthermore, there is a free edition that works on Windows 7,8 or 10.

The bot was developed by a team of software developers and crypto enthusiasts who started by developing algo trading for hedge-funds and then trading software for IT companies. They delved into Bitcoin and altcoins in 2013 when they started their focus into crypto. They launched the CryptoArbitrager MVP in 2014 but after the change of liquidity of markets in 2017, they decided to develop a 2.0 version that will bring CryptoArbitrager to the next level.

Cryptohopper

Cryptohopper is a trading bot hosted on the cloud, which means it requires no need for the user's side to install the software to use it. It supports multiple trading strategies with which you can use to trade crypto automatically, provides detailed reporting, and has a back-tester to help users optimize their crypto trading strategies. It features detailed profit and loss reporting. The main features of the platform are mirror trading, paper trading, strategy designer, automatic trading and trailing stop loss.

It allows a trader to set a hopper within 5 minutes all without any coding experience. With Cryptohopper, you get to trade a number of coins and tokens and get to track up to 75 coins simultaneously and scan them all against a your chosen profit goals, indicators, and preferences, in the cloud and on a 24/7 basis. As a trader, you are able to trade on a 24/7 basis based on your technical indicators or subscribe to one of their signalers. As a trader, you can build a trading strategy using 130+ indicators & candlestick patterns in the strategy designer.

The bot also offers a marketplace where you as a trader can shop for signals, templates and strategies meaning you actually do not need to be an expert to design yours. Traders are able to buy pre-made hopper configurations and these are made by pre-screened traders. Anyone wanting to buy these is able to first view and read reviews from other users and therefore are able to buy those items that match their trading objectives.

In addition to buying signals, templates and strategies, you can mirror trading strategies, templates and signals of the platform's external analysts and approved sellers. This means you can trade professionally with less hassle and without necessarily being an expert yourself. Mirror trading is done free of charge and you trade them anonymously, although you get to buy the templates, strategies or signals.

If you are a professional trader, that means you are actually able to sell those strategies, signals and templates for money. You apply and the application is screened and determination made based on your knowledge, previous experience and intentions as sellers. Once approved, other traders can subscribe to you and buy your offers. Signals are sent by third party technical analysis working hard to pinpoint on the rise coins when they share knowledge after spotting a potential promising investment.

Cryptohopper allows you as a trader to hop into a signal and execute a buy or sell order at any time. Cryptohopper offers some free starter templates to support your trading strategies as bought from pro traders on the strategy marketplace before starting to buy your own templates as a beginner level trader. Advanced traders can juggle among the templates to buy from different pro traders. Also, screened and approved traders are able to design advanced strategies, which are indicator cheat sheets made from technical analysis and specific indicator configurations.

The program also offers excellent learning resources, has an easy-to-use strategy configuration interface and is frequently updated by developers. In any case, you can train on "paper" or with sample cryptocurrencies in order to play and experiment with your trading strategies ,free of risk.

Although Huobi is the premium Cryptohopper partner and offers a VIP treatment for users on the exchange including a 10% off of every trade,best connectivity and fastest trading experience; it also works on other eight exchanges including Poloniex, Coinbase Pro, Bittrex, KuCoin and also plans to integrate with HitBTC, Cobinhood, CEX.IO, Bitstamp and bitFlyer.

Crypto Trader

Cryptotrader is also a cloud-based bot, meaning the user does not need to install any software on their server or local machine. As a trader, you get to sync with and trade your crypto on Bitfinex, BitStamp, Poloniex, Coinbase, Kraken, and Bittrex, KuCoin, Binance and Huobi exchanges.

The bot supports backtesting, live trading, and serves as a marketplace where traders can sell and buy trading strategies. Backtesting allows traders to check how their strategy would work over different market conditions. The tool allows users/traders to customize and automate strategies through a flexible built-in scripting language based on Coffeescript.

Therefore, you as a trader may require some minimal programming experience if you want to create and excel with own strategies on Crypto Trader. Otherwise, you can head over to the marketplace and choose either free and/or paid strategies that have been developed by professional traders and run the bot with them. The paid for bots are rented strategies and are rented at different rates. With a rented strategy, you are able to run as many bot instances as allowed by the subscription.

Users also get instant email alerts and sms notifications about their trade positions and strategies.

The basic plan costs 0.0032BTC/month and allows a trading account equity limit of $1000, has 1 live trading bot, email alert and back-testing features. The regular plan costs 0.0045 BTC/month and offers 3 trading bots, Pro plan costs 0.0084 BTC/month and offers 5 bots, VIP costs 0.0159 BTC/month and offers 10 live trading bots, while the Premium plan costs 0.0396 BTC/month and offers 25 live trading bots. The latter two have unlimited trading account equity limits, access to multiple trading instruments, priority support, email and SMS alerts.

CWE Bot

The CWE Bot allows users to connect the bot to their crypto accounts at Bittrex, Binance, HitBTC and 5 other exchanges via API. It features many inbuilt tools and indicators which will suit many traders and utilizes or connects to TradingView charting tool.

With a single subscription (at $500 annual cost or $2500 for the pro version), you buy license to create as many strategies as you can and run them simultaneously as you would wish. As a trader, you are also able to backtest these devised strategies. There is no limit to how much a user can trade and they can do $100s+ or $100,000s+ up to $500,000 per account.

Gecko Bot

Gecko Bot is a free, simple crypto trading bot that allows traders to automate simple trades and crypto analytics/data across 18 different exchanges (including Bitfinex, Bitstamp and Poloniex). As a crypto trader, you can also integrate the bot with IRC, Telegram, and email platforms through a plugin in order to receive notifications about your trading positions. The bot also helps those who want to follow and view real time coin prices, do live orders, manage and import historical market data, simulate live markets with historical data and graph all relevant results in a simple web interface.

Although the bot is not useful for doing advanced order executions such as arbitrage related functions, it can be employed in doing simple order automation and optimization.

A trader installs the software and then uses API to connect to their trading account on crypto exchanges in order to start. The trader is then able to customize settings over a browser. The trader gets to create their own strategies using or based on technical analysis indicators. There are a few in-built strategies coming with default setting and which you might need to backtest and optimize to get the best of your trading plans. Thus as a trader, you may need to have knowledge of technical indicators and crypto analysis to use the software to get good profits. After designing your strategy, you can backtest against or over historical market data or run the strategy against the live market either by a paper trader/simulator (not real trade) or by a real trade to earn real profits.

With knowledge of TA and crypto trading, you should be able to automate trades to minimize losses and earn profits all without tying huge amount of time on a computer and money on expensive software.

It works on Windows, Linux, macOS and Raspberry Pi. That means you will be running a software on your machine unlike many other bots discussed here that run on the cloud.

The bot is customizable and open source on Github with the entire code written in node.js. It also allows traders to aggregate live market data from different exchanges, calculate indicators, do paper trades or trade simulations, and simulate live markets with historical data also called backtesting. You can use the web interface to monitor local data, strategies and you can run backtests and visualize the results.

Gun bot

Gun bot offers a number of trading strategy customization options to traders and can be used with Binance, Bittrex, Poloniex, Bitfinex, Cryptopia, Cex.io, Kucoin, GDAX, Bitmex & Kraken exchange accounts. It works on Windows, Linux and Mac, or over Virtual Private Server (VPS). It is one of the oldest trading bots in the market, and with it, you get to trade BTC against all the pairs in the market, automatically.

Gunbot allows traders to use more than 32 different trading strategies. Once a user registers and installs the software, they are able to use APIs to configure their crypto exchange accounts, then configure their pairs, set the amount they want to trade and then set the strategy.

According to their website, it is being utilized by over 6000 users on a 24/7 basis. The software will run to autoperform trading strategies like Ichimoku, Ping-Pong, TSSL, Bollinger Bands, Gain, Step Gain, PingPong, 1000Trades and Supergun. As a trader, you can also use EMA Love, Trend Watcher, Candlesticks, and BB’s. It comes with several pre-coded strategies that can make it easier for you to trade and still allows you to change trading indicators to become more aggressive or remain conservative. You can take advantage of add-ons such as Crypto Slight to tradck your profits, and TradingView add-on to let Gunbot execute selling and buying alerts from trader,s or potential traders from TradingView.com.

With Trailing Stop, Stop Limit Strategy or TSSL, a user/trader is able to define their entry point or a selling point for coins. The Ichimoku uses 5 lines as indicators and coloring to form cloud-like appearances and they show the direction of prices, momentum of trends, resistance levels and other trade signals. With Ping Pong, traders on GunBot are able to set buy and sell price points based on the amount of profits targeted or loss they are willing to take. The bot is able to execute set buy and sell price points set by the user based on the Ping Pong strategy. This is arguably the most popular of the strategies at GunBot.

Bollinger Bands uses 3 lines which track prices of the market based on a specific week, month or period. It is based on observing average price points of a market and is a suitable tool in the crypto world since it tells the volatility of a coin within a specific time frame.

Unfortunately, the BTC/USD pair is not supported. If you want such a pair, then you might need to look for another tool.

With a onetime payment, you get a lifetime license for the software. Starter edition costs 0.04 BTC and comes with the lite version of the GunBot standard and only 3 strategies are supported. Gunbot Backtesting costs 0.025 BTC. The standard edition costs 0.1 BTC, Pro 0.15 and Ultimate 0.25 BTC.

HaasBot

HaasBot/HaasOnline comes with the basic features such as allowing you to automate trading based on custom strategies, do historical and real-time back-testing of your custom and default strategies where you can test and customize your strategy against historical and real-time market conditions, and get notifications and reports about profits and losses as well as other trade data.

Besides, HaasBot allows traders to connect to Teleghram social ccounts and watch live updates on profits and losses, or other data, and to get notifications and reports. You as a trader can get access to over 50 customizable technical indicators to design trading strategies, frequent updates and product/service support from team.

It is a desktop software that works with Linux and Mac OSX and Windows 7.

The software come pre-built with default bot types to allow traders to quickly and easily begin trading. There is something for beginners, simple and advanced traders from the Accumulation Bot that allows you to accumulate coins of choice with random ordering in order to increase or decrease your position in a market, Crypto Index Bot, Flash Crash Bot, Inter-Exchange Arbitrage Bot, Market Making Bot, Ping Pong Bot, to order bot many others in this list.

Each of these bots work differently and are chosen by traders for different purposes, from simple to advanced trading tasks. For instance, the Flash Crash Bot takes hassles from you in a crashing market by setting pre-orders above and/or below a specified base price in order to buy or sell crypto at those specified prices. When a buy order is placed at a predefined price points below a base price, the base price is moved down and sell order is placed on the old base price. When a sell order is placed, the base price moves up and a buy order is placed on the old base price. Trend Lines Bot executes trades based on trendlines drawn directly on the market charts.

The Crypto Index Bot allows to create a diversified portfolio of cryptocurrencies managed automatically within HaasBot's trade platform. The interchange bot allows you to automate arbitrage across 22 crypto exchanges and get profits from price differences across exchanges.

Otherwise, with HaasBot, developers can also customize bots that works for them in the way they want, using C# language.

With the beginner package, you get 10 bots, 11 insurances and 10 safeties, more than 20 indicators, trade over 22 exchanges and other features for 0.046 BTC for three months. You get more offers with the Simple plan that costs 0.077 BTC (three months subscription) and 0.11 BTC for three months with the Advanced package. There are options to subscribe for 6 and 12 months on all plans. There, however, is no trial plan. For 12 months, beginner plan costs 0.12 BTC, simple plan 0.20 BTC and advanced 0.32 BTC.

HodlBot

HodlBot is customizable Binance trading bot that allows traders/users to index the market, create custom portfolios, and to automatically rebalance their crypto portfolios without manual interventions. What's encouraging about this tool is that it is free to use and will always be for accounts of values under $500. Otherwise, it costs $10/month with a 14-day free trial.

With the tool, a trader can use APIs to connect the bot to the cryptocurrency  exchanges where their money is stored and to start trading the crypto with their own built strategies. Once they connect to exchanges, they are able to select a strategy customized based on different advanced metrics/indicators or can implement an existing strategy that comes as a defaul strategy with the package.

To create a portfolio, a trader would start by selecting coins, then they choose a weighting strategy and see how it performed in the past (backtesting the strategy with historical data). A user can also create a crypto index comprising of the top N coins. Once you create a portfolio, Hodlbot will track your portfolio and execute portfolio rebalances automatically. The tool allows you to diversify crypto portfolios in order to mitigate risks and improve returns. You as the user can change your rebalancing frequency, can blacklist coins that you want to avoid trading, and you can choose to liquidate your assets at any time.

Creating a portfolio is done on the dashboard by you picking their coins that you want to include from the available 465 coins on the platform (can also be sorted on the basis of symbol, name, market capitalization, or 24H price change). You  then select a weighting strategy (through Fixed weighing strategy where you assign a constant weighing e.g. 10%; market cap by assigning each coin a dynamic weighting based on its market capitalization; and square root market cap weighting where a coin weight is derived from the square root of its market cap). You can then backtest the strategy; then save and execute. You can also set a rebalancing period to safeguard portfolio when prices changes where you get to have the bot buy or sell coins and get the rebalancing to the original allocations. A rebalancing can be set to be 28 days or other duration.

According to HoldBot website, the software has managed a trading volume of 50 m plus in USD so far in over 400 k + transactions. 20 k + portfolios have been created so far and the platform has so far attracted over 10 k users.

Margin.de (Leonardo Bot)

Margin has a variety of features including visual trading, intuitive bots, technical indicators, configure GUI, smart order router, and customer support. Margin cryptocurrency trading bot offers drag-and-drop orders in beautifully rendered charts.

A user can hover over a completed trade to see the gains they made in the trade. Traders also get RSS feeds in-chart to stay on top of the news. Power traders are able to view up to 25 markets simultaneously on a second screen.

Intuitive bots allow traders to set up auto trading strategy bots. Traders are able to visualize these bots and monitor markets. Technical indicators that can be used to craft or customize strategies to feed the bot include Bollinger bands, MACD, RSI, EMA, VWAP and many more. These indicators can also help a trader when he/she is doing manual trading. A trader is able to add an indicator quickly and easily with a single click.

Smart order router, a B2B tool that uses sophisticated algorithm and consolidates the orderbooks of each exchange and considers both trading fees and client funds to calculate the split, splits a larger order over multiple exchanges to ensure best price.

The fully fledged desktop application trading terminal comes with a customizable GUI. Users are also able to connect to a second monitor to view multiple charts at once, drag-and-drop tool windows to favored positions, and night owls can switch to a dark skin!

The starter package costs $129 (full price of $179) in a one time payment and allows a trader to trade up to $10,000 in balance on 1 exchange; Standard package costs $259 (full price of $349) in one payment and allows trading of up to $100,000 max balance per exchange; while the Professional package allows a user to trade unlimited balance at the cost of $2999 (full price of $3999) in one time payment. All of the packages allow using unlimited bots and all indicators but the last two allow trading on all supported exchanges. Professional also adds in multiple APIs per exchange.

Pro Crypto Bots

Pro Crypto Bots is hosted on the Amazon Web Services cloud and uses Fibonacci trading strategy to identify trading profit opportunities for crypto investment with minimal risks even during volatile market times. The bots are developed by someone by name @Fibonacci30, and will trade long to make profits when prices are heading up and short when prices are heading down.

The bot watches prices to make data-based position every two hours (with the Goldman Stacks V3 ETH/USD) and 4 hours (with Goldman Stacks V3 XBT/USD (4hr)) will close and enter a new position every 4.6 days according to their website.

Hence, Pro Crypto Bots platform offers the option of two bots pre-mentioned above, one for ETH/USD which operates on the 2 hour basis and the other for Bitcoin XBT/USD on the 4-hour time frame. Both of them utilize Bitcoin as collateral and pay profits in Bitcoin as well. The bots connect to BitMex and Deribit exchanges.

Their website claims that its users/customers/traders can generate 60-70% of trade returns, and that the bots can help grow accounts even when crypto prices go down, and that the team has partnered with CryptoBotsHub to facilitate crypto trading automation. The recommended amount of Bitcoin to invest in the bot is 0.5 BTC.

From their website, they provide real time data for both bots about the net earned profits (and its attractive going by the figures they give), total closed trades, and fees. You can also try any of the bots for 60 days before committing with payments.

ProfitTrailer

ProfitTrailer lets traders connect their accounts on Binance, Huobi, KuCoin, Bittrex & Poloniex exchanges to the bot and supports multiple buy and sell strategies such as BB, EMA, SMA, DCA, RSI, STOCH, MACD and many more.

The platform features a community on which one is able to share and discuss strategies and settings to optimize strategies and earnings, and they can also receive help from a dedicated support staff. It offers intuitive dashboard through which a user/customer can monitor their trading strategies and bot. One is able to check potential trades of ProfitTrailer by clicking on the Possible Buy on the dashboard and from here, they are able to adjust the configuration.

A trader can also do an overview of all their purchased coins waiting to be sold by the bot. The Dollar Cost Averaging DCA, a special feature of the bot, allows the trader to get rid of their bags. From the dashboard, Sales feature allows the customer to see their sales.

The bot comes packaged with some strategies by default so you as a trader can kick off trading experience at once, but obviously most of these default strategies might not work very well to profit you until you can do some customization or do your own strategies from scratch to feed the bot. But all in all you, can backtest the default strategies to see if they work.

The basic package costs €499 (€39/month) for a lifetime subscription and you are able to trade your pairs on Binance, Bittrex, Huobi, KuCoin and Poloniex exchanges. The Basic VPS package, at the cost of €724 (€54/month), allows a trader to use ProfitTrailer with Binance, Bittrex, Huobi, Kucoin, Poloniex exchanges and also with VPS. Both of the packages allow traders to set up multiple buy-sell strategies, to do advanced paper trading, to access all indicators when devising a strategy, and to subscribe to signals. However, the Basic VPS package adds in premium VPS connection and comes pre-configured with the ProfitTrailer. Planned features included Signals API.

Shrimpy

Shrimpy is also a cloud-based bot that allows you as a trader to automate cryptocurrency trading, do asset allocation, do rebalancing and do backtesting. Once you set up your crypto trading strategy with the tool, the tool allows you to connect to accounts from and automate trading across multiple exchanges including Coinbase Pro, Binance, Poloniex, Bittrex, KuCoin, Kraken, Huobi, Gemini, Bibox, Bitmart, HitBTC, OKEX, Bitstamp and Bitfinex exchanges.

You are also able to replicate portfolios and follow strategies of other traders in the crypto community. It also has social features that allow you to share strategies with other traders in the community and win rewards. Thus you can keep learning and earning more.

With this bot, you get access to multiple order types including take profit, limit orders, cancel IOC orders, trailing orders, etc. Traders can also carry out back-testing their strategies against a 5 years of detailed historical data across multiple exchanges.

Shrimpy also works as a crypto portfolio management tool, allowing you to connect to the above said cryptocurrency exchanges and selecting your preferred assets and allocations. Thus by rebalancing, you are able to periodically purchase assets automatically in order to maintain a specific asset allocation or ratio of those assets. You are thus able to maintain the original risk profile with a suitable rebalancing strategy. Remember, rebalancing is a great alternative to HODL.

Shrimp also offers digital asset management for institutions and professional traders all with ability to track portfolio and analyze performance, back-testing, custom re-balancing, volatility protection, API key encryption, etc.

This tool is free to use.

TradeWave

TradeWave supports a minimum trading interval of 1 minute which means the strategy is executed every minute although many trading strategies operate in the 1-2 hour range or more. According to their website, many of the strategies they support rely on use of technical analysis to make decisions meaning they base their decisions on current and past market data to identify price or trade patterns and trends.

Once a user is convinced of the price trend based on analysis of indicators (one or more), they can then use the indicators to design signals and strategies fed into the bot. They support Moving Average Crossover, Bollinger Band Mean Reversion, Honey Badger Ice Float, Breakout w/ Mathews Drop, OBV Lite 1.4, and 6 SAR Harmonica. Besides, a user may opt to try one of the community strategies to get started before they can learn to device their strategies later on. To edit a strategy, you do not even need have coding background.

You can use a simple trading strategy editor to achieve your goals by filling in target positions that specify what to buy with what percent of portfolio and from which exchange and conditions to buy e.g. when MA (30) is greater than MA (100) and a combination of other conditions.

The visual strategy editor is known as Scribe and allows users to device strategies in plain English. This strategy can then be run against data, customized, and when ready, launched for real live trading. However, it is also possible to use Python IDE to create advanced trading strategies for those with coding knowledge and expertise. This can be done in the browser. Developers can also utilize the API to build their own trading apps.

Users are able to backtest their deviced trading strategies and do live trading on Coinsetter, Kraken, Bitstamp, Coinbase, BTCe and Bitfinex. It is based on cloud, meaning traders do not need to run the software locally.

Zenbot

Zenbot is a command-line crypto trading bot that uses Node.js and MongoDB. It automates trading based crypto technical analysis approach and works with Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, Gemini, HitBTC, Kraken, Poloniex, QuadrigaCX and TheRockTrading exchanges, with plan on-going to integrate more exchanges. It supports sell stops, buy stops, and (trailing) profit stops type of orders.

To use the bot, a user creates a list of all tasks to be performed and with clear instructions for the actions to be performed.

It is claimed to use artificial intelligence to make auto trading decisions: it can carry out research for possible investment and place trades with a 90% accuracy as claimed. However, tests done by InsideBitcoins revealed that it scored a very legitimacy score of 25%, which is way below what best trading robots score -- above 80%. InsideBitcoins concluded that this bot was a scam because in addition to that, a number of users have also claimed that it is not accurate and that they have lost money more than they made. Other traders complaints include users not being able to withdraw their money when they need.

However, the current version Zenbot 3.5.15 is claimed to be capable of delivering a 1.531 times return on investment within a period of three months and the platform can perform over 50 transactions in a day. Users are able to get stored bot's usage stats in analytics tools like Google Analytics, Mixpanel, Botanalytics etc.

With Zenbot, users are able to integrate new exchanges or write new strategies through plugins. It also allows users to simulate their trades and test them against historical data, known as back-testing strategy. They can also trade paper/unreal crypto on a simulated balance and watch live market. Although it features default trade parameters, these are likely to under-perform verses buy-hold strategies, so it is important for users to optimize parameters for their chosen exchange/pair and do simulations for them before starting real trading.

Again, it is not advisable to leave it for long without some monitoring to avoid massive losses since it will not know when to stop. Zenbot has an average of 1-2 trades per day in 1 hour period and 15-50 trades per day in a 5 minute period.

The bot supports javascript programming language as well as being a flexible and powerful Neuro-Linguistic Programming engine that can be used to build complex bots.

Zenbot works on Windows, Linux and MacOS.

Zignaly

Zignaly cloud-based trading bot lets you integrate with and trade using external signals providers such as TradingView and you can connect the bot with your TradingView account and use with indicators from TradingView, in addition to being able to set crypto trading strategy right from the Zignaly trading platform. Other external signals providers that you can integrate Zignaly with are Mining Hamster Signals or Crypto Quality Signals. You can create buy and sell signals from TradingView using indicators or their "Cryptocurrency Signal Finder" recommendations, and then send your signals from TradingView to the bot. Besides, the bot accepts all crypto pairs from the external signals providers.

You get to access a list of crypto signals providers integrated with Zignaly with many of them sharing best settings to help traders get the most of their daily trading signals. Once you get an account, you can enable signals from within the Zignaly account dashboard by configuring integrated providers and configuring their recommendations on your settings to start trading in a few minutes.

Some of the integrated crypto signals providers in addition to TradingView are Mining Hamster Signals, Crypto Base Scanner, Intelligent Trading Foundation (ITF), Altcoin Ninjas, PALM BEACH SIGNALS, CryptoWolfpack, Crypto Quality Signals, CQS Premium, CQS Scalping Free, Awesome Signals, Entrix signals, Signal Star Short-Term Binance, A+ Signals, Seaquake USDT Signals and Wavetrend Signals. Individuals and institutions can also apply to integrate as signal providers.

Other features include trailing stop loss that follows the price until the market reverses.

In addition to Trailing Stop orders, you can set Stop-Loss and Take-Profit for the same crypto balance in an exchange. Besides you can re-use same signals which is helpful when using TradingView, to generate own signals and manage sell or rebuy/DCA signals.

The beta plan of the bot comes with a 30-day free trial and $15.99 per month for advanced features of unlimited coin pairs, positions, exchanges (coming), and priority support. The platform comes with a free 30-day trial.

David Kariuki

David Kariuki likes to regard himself as a freelance tech journalist who has written and writes widely about a variety of tech issues that affect our society daily, including cryptocurrencies (see cryptomorrow.com and coinpedia.org); climate change (cleanleap.com), OpenSim and virtual reality (see hypergridbusiness.com). He is currently pursuing a MSc in Environmental Management at Open University. He does write here not to offer any investment advise but with the intention of informing audience, and articles in here are of his own opinion. Anyone willing to use any opinion here as advise to invest in crypto should obviously take own responsibility and accountability of their losses (or benefits) thereof. You can reach me at eqariu@gmail.com or david@cryptomorrow.com

2 thoughts on “Here Are Bots You Can Use to Automate Cryptocurrency Trading

  • April 30, 2019 at 7:00 am
    Permalink

    Hi David, Thanks for the great article! I just had one correction. This Shrimpy application is completely free to use. There is no cost to use the application.

    Great post!

    Reply
    • April 30, 2019 at 11:25 am
      Permalink

      Thanks so much Michael.

      I have made the correction.

      Reply

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