The year behind us was turbulent, but cryptocurrencies are here to stay. Automated crypto trading is carving out a niche for itself in the crypto universe and for those traders who are astute in running these automated trading bots they are proving to be a real trump card. Read our comprehensive guide on best bitcoin bots and become part of the “trump traders” group – pull an ace out of your sleeve and earn coins no matter who runs the market – bulls or bears.
Profits in crypto are huge, but so are the risks!
There is a lot of money to be made but the learning curve of technical analysis, trading charts and whatnot is very steep. Beginners will have tough time sifting through all the knowledge they will find online.
But before you start doing that, there is another possible solution to this problem. While you learn the ins and outs of crypto trading, you can still make money by letting bitcoin trading bots do the work for you.
If you are short on time, here’s our pick of the top 2 bot software on the market right now.
|Price From||$19 Month||$24 Month||0.0043 BTC Month|
What is a crypto trading bot?
Well, a trading bot is nothing else but a specialized software designed to analyze trading data of the cryptocurrency market. Once you buy yourself one such bot, you will need to customize it to your needs.
Then the software analyzes the market on your behalf and makes buy and sell orders on exchange, all hands off and automatically. In this article we go through an extensive list of the best Bitcoin trading bots available currently on the market. Some of them are free, most of them are paid and even expensive.
But before we dive into it, here is a breakdown of the criteria we used to judge the best bots.
With the many automated crypto trading softwares available, selecting the best cryptocurrency trading bot available can be a daunting task for a newcomer to the industry. It is important that you are aware of some factors you need to consider when making your selection.
What do I need to consider when choosing a BTC Trading Bot?
This criteria tops the list because, as with any online business, trust is a key element of success. The company that created the trading bot should be a company you can trust.
Most of the companies on our list have been in the industry for some time and have solid reputation online with a large pool of satisfied customers who talk positively about their service.
Ties into the above criteria – why would you deal with a shady company? We made sure to check the legitimacy of the teams behind the bots, their social media presence, if they are actual people or some anonymous guys. Because, no matter how good is the bitcoin trading software, if the team behind it is questionable, it is better you avoid it.
In addition to transparency and reliability, you should also emphasize the importance to the profitability of the bitcoin bot.
It is pointless if a company is trustworthy, but their product does not offer you the maximum possible return on investment. Of course, crypto market is volatile, but a good trading robot can still make you a good profit. Actually, with a good strategy and trading plan, volatility can be your best friend.
4) Overall performance
To determine the overall experience, we went one step further and explored the additional features that each of the automated trading platforms offers, including buil-in trading strategies and ability to customize the bot to your needs.
5) Ease of use
To be honest, tech savvy geeks and IT gurus are not the only people interested in bitcoin trading. If you don’t have very good IT skills, you’ll want a bitcoin trading bot that’s easy to use and makes your life easier. All listed trading bots are very easy to use and are suitable for beginners but also more experienced bitcoin traders.
Bitcoin is a unhackable crypto currency. However, the ecosystem built around it is very prone to hacks and is often targeted by top-notch hackers. For this reason, it is mandatory that all bitcoin bots we reviewed here had at least standard security measures implemented, a plus is when they went beyond that and hardened their software with advanced security tech.
Top 15 Best Bitcoin Trading Bots in 2020
Cryptohopper is among bots what Binance is among exchanges: relatively new player with extremely rapid pace of development and growth of popularity. This growth happens for number of reasons, some of them being:
Firstly, they are the first cloud-based cryptocurrency bot on the market, i.e. their bot is independent of your computer and runs non-stop on Cryptohopper servers.
Their bot is also very newbie-friendly, as they are the only trading bot that includes a feature of external signalers, so inexperienced traders can trade on autopilot by simply copying the expertise of these signalers. More experienced traders can take a manual approach by configuring their bitcoin bot based on several technical indicators and strategies.
In addition, Cryptohopper offers backtesting, trailing stop loss (including features that allow your bot to sell at a profit only), the ability to trade across multiple exchanges, and a generally enjoyable user interface.
Cryptohopper is also the only bot to offer a one month free trial, with the ability to upgrade to Bunny ($19 p/m), Hero ($49 p/m) and Kangaroo ($99 p/m) if users like what they see.
Here is a full Cryptohopper review.
Pros and cons
|Easy to setup|
Goon coin and exchange support
Most of the crypto trading bots are perfectly capable of executing your orders they way you have configured them. However, in a market as turbulent and unpredictable as the crypto market, you need the automated trading program to be prepared to adapt to the sudden changes in market conditions. This is where a smart trading bot like the 3Commas trading bot comes into play.
You might think that no trading bot can be intelligent enough to adapt to rapidly changing market conditions. However, the 3Commas bot has a unique feature known as trailing loss and trailing profit. If you use some other trading bot, you can set a fixed stop losses to avoid losing your profit or suffering too much loss. However, if the coin continues to surge after the bot has sold your position, there is no turning back. You could essentially miss the mooning of some coin.
The trailing feature of the 3Commas bot helps to prevent just that. The bot analyses market conditions and makes sure that your coins are sold at the optimal time.
Apart from this unique set of features, 3Commas bot offers all the features you can see in a regular trading bot, such as stop-loss, take-profit, automatic trading, etc.
3Commas works with a number of exchanges including Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi and YOBIT.
The bot offers three different packages, with the cheapest package costing you $22 per month and the most expensive package costing you $75 per month. However, you can use the Bot’s services free of charge if you have an account on the Huobi Exchange.
It works 24 / 7 with any device as it is also a web-based platform so you can monitor your trading dashboard on mobile as well as desktop and laptop computers.
3commas supports 12 exchanges including
Pros and cons
|Intuitive and clean interface|
Smart Trading feature
Supports many exchanges
Offers sufficient educational tools
Offers affiliate program
|Not very useful to inexperienced traders|
Zignaly is a trading platform with crypto currency trading bot that allows you to trade automatically with the help of third-party crypto signal providers. Currently, the platform is priced at only $12 per month.
It is incredibly easy to use and can be used as a passive income generator. With Zignaly, you can easily connect to a TradingView account and use it with your favorite indicators. Or you can use the Zignaly trading terminal to create your complete strategy at one go.
Because Zignaly is still pre-launch, the number of exchanges it works with is limited. According to the development team, KuCoin, Coinbase Pro, Poloniex and Bittrex will be included after the release of the full version. The company also plans to offer its customers unlimited currency pairs at no extra cost.
Besides the price, one of the best things about Zignaly is the developers’ commitment to transparency. The Zignaly bot is also proud of its transparency. The official Zignaly cryptocurrency bot website provides detailed information about the founders and the rest of the team, as well as their various social media profiles, so that users can contact them directly.
When the BTC-E exchange was closed in 2018, one of the most popular crypto trading services disappeared from the Internet. This was the leonArdo trading bot.
However, it resurrected itself in a form of a new brand – Margin cryptocurrency trading bot.
Margin (Use code “Discount10” to get 10% off) had taken over the leonArdo trading bot and added more features of its own to provide users with an overall better cryptocurrency trading bot. The layout has been modified to be easier to use and even more effective trading strategies have been added to the ecosystem with greater security to protect users’ funds.
There are a number of exchanges supported on the Margin cryptocurrency trading bot, including Huobi Pro, Bitstamp, Bitfinex, Bittrex, Poloniex, OKcoin, HitBTC, Binance, Kraken, Coinbase Pro and Bleutrade. Leonardo bot used to be very expensive – half a bitcoin for access to it.
However, since the bot was purchased by Margin, the price has dropped to the joy of numerous users. The basic plan for the bot is based on a one-time payment of now $89. However, this package is limited as you can trade with only up $10,000 on an exchange. If you want to trade with more funds, you have to upgrade the plan to a higher priced package.
There is a standard package that costs $169 and includes unlimited bots and all technical indicators provided by the system. However, it also has limits and you can only hold and trade up to $100k on exchanges.
The last is the Professional Plan, which costs $1,999, but has multiple APIs on supported exchanges, all technical indicators, unlimited bots, and no limit on the amount of money on any exchange. Users can pay this fee in various ways, including Visa, MasterCard, PayPal and BitPay.
There are online tutorials included in each plan. This helps users understand how the different strategies work and how they are useful to help them make profits.
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This is one of the older bots that offers many built-in strategies and technical indicators like Bollinger Band, Ping Pong and Step Gain.
The bot has a few different pricing plans, that range from 0.04 BTC for the Starter Edition to 0.3 BTC for the Ultimate Edition. For an additional fee, you can buy a lifetime licens.
Gunbot is integrated with several crypto currency exchanges, including Poloniex, Kraken, Bittrex and Cryptopia.
The features that GunBot offers in its Starter Edition are worth the price. The Starter Edition includes a copy of GunBot Lite and three algorithms to choose from. The next two levels offer a wealth of features, with the Pro Edition adding backtesting functionality and cryptosight as standard features.
You can use GunBot on all major platforms, including Linix or VPS. It is estimated that there are more than 6,000 users trading on GunBot daily, and there are a plenty of positive reviews from those users about this bitcoin bot.
This crypto trading bot is compatible with the following major exchanges:
Pros and cons
|Offers multiple trading strategies|
Easy to use
Offer multiple licenses
Supports a good number of the large crypto exchanges
There has been of occasional bug reports
Gekko is by far the most known name among bots – probably because it’s a free bitcoin trading bot. It can be downloaded from the GitHub platform and there are literally hundreds of videos on YouTube how to set it up and use it.
Gekko is open source software that is constantly being developed by talented developers around the world. This trading bot supports most cryptocurrency exchanges, including Bitstamp, Poloniex and Bitfinex.
Gekko is easy to use, fully automatic and beginner won’t have hard time to get it going. The software is equipped with the most important trading functions. These functions include a web interface designed to monitor your trading strategies and data. In addition, the bot can run on some backtesting data and help you visualize trading results.
Gekko bot is designed to run on most popular operating platforms such as MacOs, Linux and Windows. The bot can also keep you up to date and notified via telegram, email and other social platforms. However, you should keep in mind that Gekko is not a high frequency trading bot and as such can’t do arbitrage trading.
Pros and cons
|Totally free||Not effective in high-frequency trading|
Can’t exploit arbitrage opportunities
This is another free and open source bitcoin trading bot. It is available for use on all major operating systems and, in contrast to Gekko, it can use the arbitrage possibilities and execute the high-frequency trades. In addition (and this is a big plus for this trading bot) the software can execute several cryptocurrency transactions at the same time.
The trading bot integrates with major exchanges such as Kraken, Gemini, GDAX, Bittrex, Quadriga and Poloniex. The developers of this trading bot claim that they are still improving it and that other major exchanges will be added in the near future.
Pros and cons
|Works well in high-frequency trading|
Can trade multiple assets simultaneously
|Doesn’t have a user interface to run it|
You need technical skills
Haasbot was founded in 2014 by Haasonline and in these 5 years became an established name in the world of automated bitcoin trading. The trading bot supports many bitcoin exchanges including Bitfinex, Poloniex, BTCC, Huobi, Kraken, Gemini and GDAX.
It supports both bitcoin and altcoins trading.
Despite Haasbot being probably the most complete trading bot currently available, doing a lot of work with relatively little effort for the user, it is quite expensive with costs between 0.04 BTC and 0.07 BTC for a period of three months.
The Haasbot platform runs on Windows, MacOS and Linux and allows traders to choose from more than 10 different bots. The more you decide to spend, the more bots you have on the platform.
Given the prices for using the bots, it’s a good idea to do some research on the returns they’ve made in the past.
Read our detailed overview of HaasBot here.
This is by far one of the most popular bitcoin trading bots among traders. It is also cloud-based, meaning it does not require installation on a physical computer.
It should be noted that the Crypto Trader is equipped with a strategy market feature. This feature allows you to trade strategies with other traders. Another cool feature is a backtesting tool that allows users to test trading strategies against backtesting data and current market conditions. Crypto Trader integrates with exchanges such as Bitstamp, BTCC and Coinbase.
All of the bot mentioned before and after Autonio have one thing in common: they are typical centralized trading bots, a regular software. However, Autonio’s developers claim that their platform is fully decentralized making it the only decentralized crypto trading bot on our list.
The entire infrastructure is based on a distributed platform, so there is not a single entity that controls all its operations. Users are free to check the transparency of the program, and no entity can be held responsible for its eventual errors.
The Autonio Crypto Currency Trading Bot, which is marketed to both newbie and professional traders, has integrated features to generate the various trading signals based on the built-in trading strategies. There is full access to the technical indicators and traders can make the most of them through the Autonio trading bot.
There is an Autonio Marketplace where users can see how other users share different trading strategies and algorithms that have helped them make profits. If you are not familiar with the process of setting up your own algorithm with the bot, you can select one on the marketplace and start trading from day one.
There is an internal token called NIO that is used by the Autonio trading bot. This token is based on the Ethereum blockchain and uses the ERC-20 standard. This token can be purchased on crypto exchanges such as Bittrex and Ethfinex. The entire Autonio platform revolves around the benefits of the NIO tokens and can be used like any other token in a distributed app.
The Autonio Trading Bot is not free. It comes at a moderately high monthly price. The average price for using the Autonio Trading Bot is around $50 per month and users can download and use it on all major operating systems such as Windows, Linux and MacOS on computers/laptops and even on Android.
The CoinBot cryptocurrency trading bot is a rental service that helps traders execute daily trades automatically. There is a full description of the algorithms used in the bot on the official website, along with a link to the bot’s Github page.
CoinBot has a number of features, making it one of the most widely used trading bots. It has a multi-tiered commission program that makes it very lucrative to rent. There is also a referral program, which means that the users who spread the message about the bot receive a monetary compensation so anyone who joins through their link will earn them a commission.
The entire platform is based on a cloud, so users don’t have to install the program on a device. Transparency has also been given high priority. The complete information about the team, the program and the whole project can be found on the official website of the project.
The code of the program can be modified to achieve higher returns as it is open source and available on the Github page. The referral system offers up to 50% commission and is therefore an effective form of marketing. There is a diversification in the types of bots available on the site, with aggressive, balanced and conservative trading strategies.
There is the possibility to purchase additional services through the rental program. Users have paid extra just to get the three additional features, including the Telegram Wizard, the arbitrage bot and the Social Analyzer.
Each of these three add-on services has its own applications and it is well worth the extra money to get them. The bot automatically sends a notification to the user when the loss on a trade reaches 10%. It helps users to know when it is time to make a decision to cancel a trade.
The cryptocurrency market is synonym for volatility which makes it difficult to predict the good moment to invest. Kryll.io is an automated trading bot which aims to alleviate this problem.
Launched in 2018 by a team of Luca Benevelo, Philippe Longere, and Paul Collorafi, it offers some of the most advanced features for creating your trading strategy which can be used by people without any prior programming experience. The platform will provide you with simple and powerful tools that will spark your creativity. A very flexible editor with almost infinite customizaton possibilities!
Drag and drop condition or indicator blocks, connect them and create basic or advanced automated strategies. All this can be created without any line of code!
Kryll.io offers various blocks which can be linked; such as logical operators, market indicators, value triggers, improved technical analyses, information and notification blocks. As the platform evolves, new functionalities are planned, such as risk analysis tools and new blocks, some of which are based on Artificial Intelligence such as Sentiment Analysis and trend prediction by Deep Learning.
You can test your strategies on the entire history of cryptocurrencies up to 4 years with 1min candles and improve them with a few clicks.
You can also use the marketplace if you don’t want to create strategies.
The marketplace connects the creators and users of the platform. Simply select the strategy that suits you based on the pair you want to trade on and let it do the work for you!
This bot is different to all other trading bots on this list. Exchange Valet is not just a bot but a whole trading toolset and crypto portfolio management platform. Most crypto exchanges do not offer traders a lot of tools. Exchange Valet fills the gaps with common trading tools such as simultaneous stop loss and take profit orders.
Many exchanges neither support the order type nor allow traders to use both at the same time, which is a given in popular trading platforms like MT4 or MT5.
With Exchange Valet you can set both stop-loss and profit orders at the same time, which is very useful for day traders.
Let’s say you want to open a position in BTC, but you expect it to surge another 10%. If you’re wrong about the direction of the BTC market, and bitcoin heads south, there is no need to stay in your position and lose your profits.
The Exchange Valet platform would allow you to open your BTC trade with both a Stop Loss and a Profit Order at any price level. If you are right and BTC rises 10%, Exchange Valet will capture this profit by selling the position. If you made a wrong estimation, your stop loss will prevent a volatile market from plundering your trading account.
Practical portfolio management tool
Exchange Valet also allows you to keep track of all your positions and balance them almost automatically. The platform displays all your crypto positions in a pie chart and allows you to buy a percentage of the total value of your portfolio in a single crypto.
Exchange Valet also has solid communication tools. All your orders can be delivered by telegram (they call it Speedtrade), and other information will be sent to you by email if you wish. Portfolio information can also be delivered by telegram or via the platform’s proprietary chatbot.
The platform offers new users a 14-day free trial, but after that it costs you 29 USD per month, 75 USD for three months or 250 USD if you buy the service one year.
Exchange Valet lacks some features
If you are looking for an automated trading platform, Exchange Valet will not be a good choice for you. While it offers super useful trading features, it really isn’t a trading bot. It is also limited to Binance and Bittrex.
Two areas where Exchange Valet excels are security and connectivity. The platform meets the ISO 27001, ISO 27017 and ISO 27018 standards for data security. It also offers a lot of information by telegram, which is ideal if you want to keep an eye on your portfolio when you’re not standing in front of a computer.
While most of us, including you, might be skeptical when you hear about free things that can generate profits, there are a handful of open source bitcoin trading bots that can actually be classified as free bitcoin trading bots. Zenbot and Gekko are the two most known free bots.
However, since they require some technical skills to set them up and use, we recommend that you try out a free month of Cryptohopper as it is both beginner friendly and suitable for advanced traders and cloud-based, which means you don’t need a machine (computer or VPS) running constantly to be able to do day trading.
It’s easy. Each bot has a set of parameters and indicators that, if they all match, signal the bot to sell or buy the coin on exchange of your choice. Most bitcoin trading bots are also working within a specific period of time. This is all based on the trader’s informed assessment of how the market will behave and function in the future.
Advantages of Bitcoin Trading Bots
- increase in efficiency
With the increased use of cryptocurrency trading bots, human errors are eliminated or minimized, resulting in improved accuracy. Trading bots offer constant interaction with the market, meaning you can go to sleep or spend your day offline and let it do all the work for you. Not only that, but you can also customize it to monitor, analyze and trade multiple different assets in different markets.
These bots can analyze as many cryptos as you specify with their algorithms and work with the number of exchanges simultaneously. In short, trading bots maximize profit potential by using being able to respond to market changes around the clock.
- Increased speed
While a human can take up to a few minutes to calculate and figure out different formulas, a bot can calculate much faster, sometimes even in nanoseconds with accurate results. This feature is very useful when the price of a currency is changed frequently. Automated systems are able to generate rapid orders once the trading criteria are met.
Automated trading systems sometimes even minimize or eliminate emotions completely, because bots, unlike humans, have no emotions. By keeping emotions in check, traders basically have an easier time adhering to the plan. In addition, trade orders are executed immediately after being checked for compliance with the trade rules, so that traders cannot reverse or question the trade because of emotions.
The bots can have no doubts or questions – they experience no frustration, so they are essentially better for trading than humans. Automated trading also helps to maintain a certain degree of discipline in order to perfectly execute the trading plan.
Disadvantages of Bitcoin Trading Bots
- Not suitable for beginners.
When traders start, they make many mistakes. However, they learn from these mistakes and improve themselves through the experience they gain. However, the beginners who use automated trading bots do not make mistakes and do not learn anything new. The only thing they know is how to set up their bots, which is insufficient because a bot can’t make good profits without an experienced trader.
Besides, these bots are very expensive. The simple ones cost more than 10 dollars a month and the arbitrage cards are even more expensive.
Requires human monitoring
Ideally, one could say that these bots can function all day without human intervention. But that’s not true. In reality, there is a possibility of mechanical failure, such as connection problems, power outages or computer crashes. These can be harmful because the Internet connection is sometimes bad, which can lead to the loss of an order.
- Security issues
Dealing with crypto bots can sometimes be dangerous due to security problems:
Bots could be hacked. Bots can copy user’s important account information and pass it on to third parties.