Top 3 cryptocurrency trading bots of 2022
If you realize that your trading lacks an attentive assistant, or if you want to delegate some of your routine work, pay attention to trading bots, which, if set up correctly, do their job perfectly. Cryptocurrency exchanges are highly volatile. Cryptocurrency rates on them change quickly and quite unpredictably. Therefore, technical tools such as trading bots are very popular among traders. Bots help to monitor quotes 24/7, avoid “surprises” like margin calls, and close trades faster and more efficiently.
What are trading bots?
Only by experience — to try trading with different bots. Many platforms have free trial versions, which allow you to understand the basic tools and working conditions of bots. Well, if you’re already an experienced trader and you know what tools and features you lack, choose a bot for your needs and financial capabilities. Compare packages and costs and read reviews. The selection below can help you find “your” bot.
Bistgap
Bitsgap is an automated crypto trading robot based on GRID system — a grid that allows you to build multiple buy and sell levels. Thanks to high-frequency trading, the bot not only allows you to make good money over a distance, but also to diversify risks in case of high volatility. Bitsgap also has a demo version of the platform so users can practice trading first. This is a great way to understand how the platform works without risking real money. Bitsgap supports more than 30 exchanges and is officially listed on Binance and OKEX. All transactions are done via an exchange API, so the platform has no access to your money. New users can try the platform for free for 14 days (no credit card needed). Then either use the free version with restrictions or buy a paid subscription, which starts at $19 per month.
Cryptohopper
Cryptohopper supports most popular exchanges and offers a wide range of cryptocurrencies, up to 75 pairs can be traded simultaneously. For professionals, manual tuning of the bot is provided, while beginners will be interested in trading with the help of strategic models based on the recommendations of experienced traders. Cryptohopper has a fairly simple and pleasant interface and it will not take long to get to grips with it. You can use the bot for 7 days in free mode, after that the starter plan with minimal features will cost $19 a month, the most loaded — $99
3commas
3commas is another cryptocurrency bot that works with many exchanges, including Bitmex, Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, HitBTC and others. You can trade on the platform both in the web version and in the application for Android (for iOS trading is not yet provided). You can trade with tools like Smart Trade with TakeProfit and StopLoss, Short and Long bots, portfolio balancing. There is a free plan, but significantly limited: you can only trade on Huobi Global, with a deposit of less than $750. The cost for the minimum plan starts at $22, the full-featured plan $99.
To summarize, we can say that trading advisors have more pluses than minuses. However, you should not think that the profitability of trading depends solely on the robot. To be really successful, it is important to understand how the cryptocurrency market works, keep track of its dynamics, and keep your finger on the pulse.