Jan 07, · If you were trading on cryptocurrency exchanges prior to it’s more likely than not that you were trading against trading strategies deployed from our automated trading software as it were the only Bitcoin trading bot that was widely available to the public. Dec 08, · Best Bitcoin Trading Bots Cryptocurrency, like any other trading commodity, has boomed in the past few decades. This currency has traveled across the world from billionaires to accountants. Earlier this decade when the value of these currencies (bitcoin) rocketed, it became a mode of higher trade and found its way into wall street. It still [ ]. Sep 21, · GunBot is a well-fit trading terminal and cryptocurrency trading bot for those who want to automate their Bitcoin trading, with lifelong desktop software and license.
Bitcoin trading software botHow to Choose the Right BTC Trading Bots | Zignaly
Trust has always been a major factor of choosing a business for any service or product, but particularly so in the digital age, when so many transactions are conducted without human interaction. Any company providing BTC trading bots should be trustworthy, and their software must deliver reliable performance.
A simple slip in connectivity or function can cause you to miss out on important opportunities, which is totally unacceptable. The best teams perform extensive testing on their bots to ensure a high standard of service.
A good user experience is critical in any type of software, and BTC trading bots are no different. An intuitive interface and a user-friendly design both combine to make the process of automating your trading easier than ever.
Customization and strategy implementation should both be straightforward. BTC trading bots must be tailored to a wide range of users, not just those with years of experience in trading or bots.
Good software will be as welcoming to beginners as it is to veterans, and is easy to set up even without extensive IT knowledge. Investing in a BTC trading bot is all about aiming for profitability.
An effective bot is designed to help you achieve profits and enjoy success over time. Look to be in business with companies that deliver high-quality software that help people build up consistent gains.
We all want something for nothing, but you may be hesitant to try a free BTC trading bot that claims to deliver profits. This doubt can lead you to spend huge sums on the most high-end bots on the market unnecessarily. Bitcoin trading bots operate based on a list of rules and indicators. When these align, the bot will decide to place a buy or sell order at your exchange of choice. Crypto trading bots continue to become popular as Bitcoin gains traction around the world, but this has led to a number of unethical developers creating software to con investors out of their funds.
You can reduce your risk significantly with a little due diligence. BTC bots can make calculations far faster and with more accurate outcomes, eliminating the frustration you may feel when trying to make quick decisions. But bots enable you to automate your trading and create orders whenever specific events take place.
Price changes can be extremely quick, due to market fluctuations, and traders may be unable to react fast enough to take advantage of opportunities.
Bots are never tired or distracted, and can trade on your behalf for long periods. Relying on Bitcoin trading bots eliminates the risk of human error, achieving a higher rate of accuracy across all trades. You can specify the the cryptocurrencies you want your bots to analyze, as well as the exchanges they should cover. Thanks to automation, trading Bitcoin and other cryptos is much more efficient overall.
Finally, BTC trading bots operate without emotions. While it may seem as if trading bots are able to work independently forever, they still need to be monitored regularly. Technical failures are a slight but real risk: if your connection drops or your computer crashes, you could lose out on potentially profitable opportunities. Novices can make errors in judgement in the early stages of their trading careers.
While mistakes present you with a chance to learn and grow, they also create a risk of suffering a loss. Traders using bots never cause mistakes, and are unable to learn anything new: they only know how to customize their bots, rather than developing a deeper awareness of Bitcoin trading. The best bots take security seriously and implement cutting-edge measures, but hackers may still try to breach them from time to time.
When considering trading bots, thorough research is key to discover which software offers the highest standard of security. You should also check the security record for any bot you are considering. If your bot keeps going offline or suffers from other glitches, you will miss out on opportunities. Check that the team behind the bot is credible and legitimate and that there is an active community of satisfied users. Most users want a bot that will make trading easier for them, so look for one with an intuitive interface that suits your level of expertise.
You should also check the level of customer support, how updates are rolled out and whether bugs are solved in an efficient and timely manner. It is also important to find a bot that best aligns with your trading strategy and to check how much customisation will be required.
Generally speaking, a paid-for bot offers superior features and a higher level of service, but you should weigh up what you are getting for your money and whether it is worth the investment before making a decision. With its simple, intuitive design, Coinrule is a good choice for those who are new to bitcoin trading as well as more advanced traders.
Coinrule is web-based and works across several cryptocurrencies as well as supporting some of the most widely-used exchanges, such as BitMex and Coinbase Pro.
Fee: A free package offers access to portfolio tracking features. Other tools include backtesting to compare your strategy with historical results and social trading, which allows the user to follow and copy other traders on the platform. Visit Shrimpy. Its key feature is the ability to backtest strategies on the portfolios of other traders. This allows you to learn from the successes of the best traders on the platform and incorporate their approach into your own strategy.
Visit 3Commas. Another cloud-based bot, Cryptohopper is easy to set up and start trading with a range of cryptocurrencies. One notable feature is the ability to integrate with professional traders and trade in line with their trading signals. Cryptohopper works with most of the popular exchanges. Visit Cryptohopper. This cloud-based bot offers a marketplace where users can buy and sell trading strategies, along with backtesting tools.
It also provides text and email updates on the market throughout the day and is supported in most of the major exchanges such as Coinbase and Bitstamp.
CryptoTrader works best for users with some knowledge of coding, although less experienced users can access a variety of free or paid for strategies. Visit CryptoTrader. With no limits on the cryptocurrencies you can trade, Zignaly offers a high level of freedom.
Another attractive feature is the ability to follow professional traders and integrate their analysis of market fluctuations. The bot only supports Binance and KuCoin at present but developers promise that other exchanges will follow soon.
Zignaly prides itself on its transparency and users can easily communicate with the developers, as well as taking advantage of a day free trial. Visit Zignaly. When it first launched, it was bitcoin only, but can now be programmed to trade other cryptocurrencies. It also works with many exchanges. Visit BTC Robot. It can be used to trade with a variety of cryptocurrencies and supports most of the large exchanges, including KuCan, Kraken and Bitfinex. One of its key features is the ability to access a number of bots that can trade with different currencies and on different exchanges at the same time.
This bot requires more input from the trader than some of the others on the market so is more suited to those with a good knowledge of the bitcoin market. Visit Haasbot. Zenbot is an open-source trading bot, so the code is available for traders to download and modify for free.
As there is no user interface, it does require technical skills, but it provides access to ready-made strategies as well as features such as paper trading — simulated trading which allows users to try out strategies in real-time.
Zenbot can handle high-frequency trading and supports several cryptocurrencies alongside bitcoin. Visit Zenbot. A bitcoin trading bot can never completely replace a human trader but, used correctly, it can reduce some of the risks and help you to trade more efficiently and effectively.
With so many bots now available, it is easier than ever to find the tools you need to automate your trading according to your personal preferences and level of experience. WikiJob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.
Past performance is not indicative of future results. Investing involves risk including the possible loss of principal. The 10 Best Bitcoin Trading Bots What Is a Bitcoin Fork? Coinrule 2. Shrimpy 3. Cryptohopper 5. CryptoTrader 6. Zignaly 7. BTC Robot 8. Gunbot 9. Haasbot Zenbot Final Thoughts.