The cryptocurrency market never closes and never sleeps, which can be stressful for traders and even casual investors in the industry. These markets can also change really quickly overnight. This means you could go to sleep with a profit of a few hundreds or thousands of Bitcoin and wake up the next morning to find a big loss.
As a result of the volatility of the market, trading bots have become increasingly popular among traders. They will remain in control of their trading, but can go to sleep knowing that the bot won’t. In addition if the bot is set up correctly it can execute trades faster and more efficiently than the trader would be able to do manually.
What are Trading Bots?
A trading bot is a software or website that interacts directly with exchanges through their API and places buy or sell orders on your behalf. The bots make decisions by monitoring the price movement of a specified cryptocurrency and reacting according to a set of predefined and programmed rules. Typically, a trading bot will analyze market actions, such as volume, orders, price, and time, although they can generally be programmed to suit your own tastes and preferences.
The best Crypto Trading Bots
Here are our Top Picks!
Dropil.com
This Bot offers 3 different things: Autonomous Trading (DEX), Arbitrage Signals (Arthur) and Personalized Trading (Jade). The Basic Version is free to use and offers nearly everything. The Plus Version costs 5.68€ per month or 56.79€ per year and opens up more Arthur and Max Features. The Pro version costs 12.17€ monthly or 121.70€ yearly which opens up the full potential of the bots.
There are different Subscriptions for Jade the Personalized Trading Bot. The Free Version which gives you 1 Bot and a total of 450.67€ tradeable, the Single Version which gives you 1 Bot with automatic reinvest and unlimited Trades for 235.25€ yearly, The Multi Version which gives you up to five active bots, automatic reinvest and unlimited trades for 397.49€ yearly and the Ultimate Version which gives you unlimited active bots, auto reinvest and unlimited Trades.
The Dex bot looks interesting and seems to work perfectly fine. It doesn’t use any API Keys! You have to exchange the money you want to trade to DROPS, which is the cryptocurrency they use on the Site.
With this Link you’ll get 5 USD and -10% on all Fees!
Type: monthly or yearly Fee
Fee: 0, 5.68€ or 12.17€ per month
Cryptohopper.com
They are the only bot to embed external signalers, allowing new traders to subscribe to a growing list of professional analysts from around the world. Many use machine learning, intelligent algorithms and employ teams of mathematicians to target rising coins. Signals are sent directly to the users bots which buy and sell when they receive them.
Type: monthly Fee
Fee: 19$, 49$ or 99$ dollar per Month
3Commas
3Commas is a popular trading bot which works with a number of exchanges including Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi and YOBIT. The bot works 24 / 7 with any device as it is a web-based service so you can monitor your trading dashboard on mobile as well as desktop and laptop computers.
Type: monthly Fee
Fee: 29$, 49$ or 99$ per month
Cryptotrader.org
The CryptoTrader bot is a cloud based trading bot that provides users with fully automated trading solutions while not requiring them to install the bot on their own system. CryptoTrader features a strategies ‘marketplace’ that allows users to buy their favorite trading strategy, or alternatively to sell strategies developed by themselves.
Cryptotrader supports most of the major exchanges for both backtesting and live trading, with the backtesting tool allowing users to review how their strategies would work under different market conditions.
Type: monthly Fee
Fee: 0.006 – 0.087 BTC per Month
This was originally posted on: http://b-alber.eu/the-ultimate-guide-to-best-cryptocurrency-trading-bots-2020-do-they-work-2/