RecordCoin.io
- RevenueBOT: main specialization is spot and futures markets, from which RevenueBOT generates the most revenue
- CryptoHopper: the best result shows on the slow market with low risk
- HAAS Bot: has a lot of possibilities when handled properly
- ProfitTrailer: that automates most of the most popular strategies and uses them to profit automatically
- Zignaly: effective algorithms and strategies for trading
- Zenbot: completely free of charge provided that the open source code is used
- Gunbot: support of reverse trading to compensate for the fall of the coin
- Bitsgap: good risk diversification due to high-frequency trading
- aBOT: fast transactions, reliable and low-risk cryptocurrency trading
- Stratum Bot: large functionality and extensive settings if you want to build your own strategy
The cryptocurrency industry is evolving rapidly and transforming the market for digital products more and more every day. The introduction of cryptocurrency exchanges has also had a significant impact on crypto trading, as all the best solutions already honed in fiat exchange trading have been applied to them. Robots and bots have been widely used on stock exchanges for more than a decade, so it was only a matter of time before similar functionality appeared for cryptocurrency trading as well. Instead of sitting in front of your computer around the clock trying to catch the most profitable rate and make money on digital currency volatility, you can entrust it all to a bot with special functionality that automates most trading strategies within the simplest algorithms.
The operating principle of such a bot is fundamentally quite simple - it is a program with a certain script for exchange trades. When it encounters an offer that meets the right conditions, it will open or close orders. The sequence of actions of the bot is based on a set of parameters which serve as a guide for transactions - this is called a strategy. For example, a strategy might be to find and buy a currency that has fallen in price by 6%-7% and then sell it on the rise. Bot works in two modes:
automatic. In this case it controls all operations on the exchange. The advantage of this approach will be the highest response to any profitable trades, which allows you to get significantly ahead of your competitors. However, the bot must have a complex algorithm and a carefully developed strategy;
manual. In this case, the task of the bot is just to search for the appropriate conditions, and then it sends a signal to the trader. The latter closes all operations in manual mode, sending the bot to continue scanning the exchange.
The duality of bots is shown in their functionality. Simple programs may be set up by a beginner, but they help only with the basics and do not bring much profit. Sophisticated bots with wide-ranging functionality will help you track and close profitable deals fast, but not all traders, even those with experience, can handle them.
What parameters do you use when selecting bots?
Anyone familiar with the basics of programming and crypto exchanges can write a bot. However, such a program will be useful only at the beginning of an uptrend, while it will not be suitable for more complex and profitable operations. Therefore, the vast majority of traders use free or paid bots from third-party developers. When choosing them, they are guided by the following indicators:
the coverage of work by token and site;
algorithms and depth of customisation;
terms of service;
central bot strategy;
built-in trading mechanisms.
Good bots usually cost a lot, and trying to save money will lead to falling for a fraudulent program designed to steal wallets. In this article, we will look at the top 10 most relevant and suitable bots for crypto trading, their advantages, disadvantages and other features.
1. CryptoHopper
CryptoHopper is one of the most popular bots that specializes primarily in the Binance exchange, as well as nine other common platforms. Its popularity is not surprising, as the bot has a number of useful features and built-in indicators that allow it to use market making, all the benefits of arbitrage, or follow a unique trading strategy not initially provided.
CryptoHopper is not solely limited to the bot - it is a true service that also offers access to an academy to learn how to set up work and the principles of cryptocurrency trading. There is also access to extensive video tutorials on the platform that explain all aspects and features of the program. Note that CryptoHopper is multilingual, but Russian is not among the available languages. The official groups with active community, which are in Telegram and Discord can be the additional help.
The CryptoHopper bot offers rather high profit, however the best result shows on the slow market with low risk. Practice shows that this is the most stable and profitable result, while the risk often leads to losses and at best zero results. Thus, you can expect up to 10% profit in a typical trade, which can be increased with the use of specific trading strategies.
Among the advantages of the program we would like to highlight:
The cloud service is constantly synchronised with the server, which prevents data loss and also allows you to use the bot from any device connected to the internet;
a handy mobile app with all the functionality you need to configure and manage it;
one of the best TA's out there, which is also enhanced by built-in indicators;
extensive settings and access to different levels depending on the tariff.
CryptoHopper is good for beginners - it can be used to learn the basic features of similar programs and then move on to more complex and profitable strategies. However, it's worth noting that the bot is quite expensive, so be prepared to invest in its full functionality.
2. Zenbot
Not all bots are a comfortable shell with a clear graphical interface, and Zenbot is a clear confirmation. This is essentially an automated program that runs directly from the command line and is written in Node.js. It is well-suited for all major operating systems, but the developer points out that the Linux version will be more stable than the Windows version.
The code for Zenbot is in the public domain, so in theory it can be used by any trader with good skills in both crypto and programming. In reality, many people use the ready and running version of the bot with a monthly fee, which is much easier.
Being a command line program, the main way Zenbot interacts with trades will be through command line queries as well as hotkeys that already have certain commands attached to them. By learning them, the trader can quickly manage any transactions in the market.
Zenbot supports 13 exchanges, among which Binance, Kraken and Bittrex are expected. It offers a wide range of standard strategies as well as the ability to create a completely custom approach. However, to do so, you need to be proficient in the Node.js language in which the program is written. The settings are quite variable - so you can set the bot to make from 1-2 trades per day to more than 100 per minute.
Among the advantages of Zenbot:
The bot's extensive features, extensive customisation and the ability to set your own strategies from and through;
high efficiency when used correctly;
support for any operating system and work in major cryptocurrency exchanges;
completely free of charge provided that the open source code is used;
ability to plug in a graphical interface in one of the test versions.
Despite its high efficiency, Zenbot is the least suitable for beginners. To run it, you need to have certain programming skills, as well as knowledge of how cryptocurrency exchanges work. Experienced users, on the other hand, will not be disappointed by this program.
3. Gunbot
Rounding out the top three is one of the most beginner-friendly bots - Gunbot. It was developed back in 2016 and it works on almost all current exchanges, supports over a hundred currency pairs and many trading strategies of different types. It can be run on any current operating system - Windows, Linux or macOS.
The main difference between Gunbot and many other bots is the ability to use several strategies at a time, rather than sequentially switching between them. This makes the bot much more functional and flexible in configuration, allowing it to combine the advantages of several approaches at once. It also supports over 140 tools for fine-tuning. The security of the bot is quite high, with no user data collected and no access to cloud services. Of course, because of this, you can only use Gunbot from one device, but in return you will be assured that your data, strategies and trades are not shared anywhere.
The Gunbot service has very good support, in which users are told about the program's features, all questions are answered, and problems are promptly resolved. As a test run, you can install a demo version, which shows the full functionality in an emulated version of one of the largest cryptocurrency exchanges to choose from. Regular updates and the introduction of new features have made Gunbot very popular among both experienced traders and beginners.
Some of the advantages are:
No connection to the cloud, which greatly enhances security and privacy;
Support of reverse trading to compensate for the fall of the coin;
simultaneous working with several exchanges through several strategies at the same time;
full automation without user intervention;
Possibility to create your own strategy based on indicators.
Gunbot is equally good for starting trading and improving profits. You literally have to pay the price, because the program is not cheap.
4. Bitsgap
Based on the GRID algorithm, this bot is great for beginners. Bitsgap is advanced enough to allocate investments within a set range, in addition, it has the highest trading theme. Because of this and its excellent performance, it builds multi-level trades, efficiently conducting buy and sell trades with high totals. For Bitsgap to make several thousand trades on a single trading pair in just one week is nothing short of incredible, which ensures the popularity of the bot among crypto traders.
Among the advantages of Bitsgap we should mention:
A two-week demo to practice working within a particular exchange, as well as to learn the settings and features of the bot;
more than 30 cryptocurrency exchanges and regular addition of new ones;
good risk diversification due to high-frequency trading, as well as integration of additional options to extend standard strategies.
Bitsgap has a large database, a kind of encyclopaedia with all the features, settings and intricacies of the program. It is also worth noting that the bot checks the effectiveness of a future strategy by quickly emulating trades within the program. There are several Bitsgap rates available to traders, depending on the number of features and capabilities they need. No additional programming skills are needed to use the bot, making it beginner-friendly.
5. aBOT
The aBOT trading robot was developed by Arbitraging, a well-known company that actively arbitrates tokens of various cryptocurrencies. It formed the basis for the development of this program, which works on almost all current platforms and evolves by adding more features to its capabilities.
Because of the nature of aBOT's work, you need to change platforms frequently, which is a definite inconvenience when working with it. Otherwise, the program is good in a variety of situations, it increases the reliability of transactions and reduces the risk, and provides a very good profit in automatic mode. With aBOT, you can set up your own strategic algorithms, which will be useful for experienced traders. Beginners will be able to choose appropriate tactics based on preloaded bot features.
The advantages of aBOT include:
large number of supported trading venues;
fast transactions, reliable and low-risk cryptocurrency trading;
user-friendly graphical interface with all available features;
automatic and semi-automatic trading modes, fast switching between them.
Overall, aBOT remains a handy tool for automatic trades. However, it is worth bearing in mind that you will have to pay a set commission to the program's developer for each such successful venture. Against the background of the one-time or monthly payments often demanded by such bots, such an approach looks unusual to say the least.
6. RevenueBOT
One good option for cloud trading is RevenueBOT. Designed for fully automated trading, this robot actively works with many of the current crypto trading venues without interrupting for a single minute since launching. Its main specialization is spot and futures markets, from which RevenueBOT generates the most revenue.
It should be noted that RevenueBOT is not so much a robot as it is a platform that supports several automated trading options. Traders can choose between two ready-made bots with preset settings, and multiple configurations to customize their own strategy. More than four hundred options for configuring different types are available.
RenevueBOT works via API keys that connect to the cloud. All the settings are stored on it and synchronized regularly, allowing you to control the robot from anywhere in the network. The interface itself is also as simple as possible, devoid of charts and many of the exchange tools that are not yet understood by beginners. This service allows you to use the bot for multiple currencies, which opens up many opportunities to earn and develop strategies.
The advantages of RenevueBOT include:
an ideal start for the beginner due to the absence of unnecessary tools;
work and interaction with the trading floor directly through the bot;
any commissions are in accordance with the rules of the exchange in which you are trading;
There is no need to pay monthly fees, paying for the work of the bot on the fact.
Even though the bot is free, it does require a certain commission on trades after registration. Currently, it is twenty percent, which is deducted from the RenevueBOT account. If the commission is not paid on time, the service will block all bot features.
7. HAAS Bot.
As one of the most popular bots, the HAAS Bot has a lot of possibilities when handled properly. You can use it to deploy automated strategies, create and test different approaches and fine-tune almost all of the program parameters. Its programming language also allows you to create indicators, signals and much more, while the HAAS Bot itself is a compilation of the most advanced technologies of the service at the moment.
The robot uses in its operations more than five hundred kinds of cryptocurrencies, as well as four independent algorithms, each of which supports and develops its capabilities. Being a very old development, which was launched back in 2014, HAAS Bot has gained popularity and a certain reputation as a very effective cryptobot.
The bot works on all major exchanges with three levels of billing. This way every trader can explore the functionality of each version of HAAS Bot and decide which one he needs the most. It should be noted that the license is purchased for three months and paid via BTC token.
The advantages of HAAS Bot include:
Support for all currently relevant crypto exchanges;
built-in strategy editor with a visual and user-friendly interface;
built-in programming language with full training and help for work;
work with the cloud on the server to synchronize settings.
The disadvantages are relatively expensive rates, which require significant deposits and the need to recoup them rather quickly. In addition, the bot does not support the Russian language, which may be an obstacle for domestic traders.
8. Stratum Bot
This is a relatively simple, but reliable automated trading tool that is well suited for beginners. Its main advantage is simple setup and launching, and it has a built-in averaging tool whose purpose is to reduce the risk of large losses. Also, Stratum Bot works well with several pairs of cryptocurrencies at once, thus using common settings for all or individual for each individual token.
Advantages include:
Free rate when trading on the YoBit exchange;
automatic regulation of settings and strategies;
large functionality and extensive settings if you want to build your own strategy;
easy setup and start-up, requiring little knowledge;
prompt technical support and help;
full localization both in the bot itself and in its documentation.
However, there is a reason why Stratum Bot is so low in our rating. Unlike many other bots, it is limited to only two platforms - YoBit and Binance, mentioned above. However, for novice traders, it would make a good practical tutorial on how to handle automated trading.
9. Zignaly
This is a cloud-based bot with a web interface that requires no separate software installation. Zignaly works via your web browser, and thus opens up many possibilities for traders working from multiple devices. Zignaly has also completely changed its pricing. While the bot was previously a paid bot, it now earns commissions on trades, so it's completely free for users.
Of the benefits:
Free software with minimal settings and no special knowledge required;
effective algorithms and strategies for trading;
Reliable signals that are protected from intruders.
However, despite its apparent simplicity, Zignaly is missing a number of features that are promised to be introduced soon. Also, the bot does not support many crypto-exchanges, which makes it significantly more organic.
10. ProfitTrailer
A fairly powerful cryptobot that automates most of the most popular strategies and uses them to profit automatically. It is available on all current platforms and operating systems - in addition to the basic version for Windows, Linux and macOS, there is also a mobile app for Android. An important advantage is a well-developed community that actively responds to various questions and helps when there are certain problems.
The benefits of ProfitTrailer include:
free trial version with cryptocurrency emulation to configure and understand the functionality of the bot;
Large number of supported exchanges, including the leading exchanges;
convenient tariffs with both monthly and one-time payment with no usage restrictions.
However, it is worth noting that ProfitTrailer is designed exclusively for professionals. It has many settings and functions to create your own strategy, which makes it unfriendly to newcomers. Therefore, it is highly undesirable to choose it as your first cryptobot, despite its large community and active technical support.