The Best Cryptocurrency Bots in 2021

As the popularity of the crypto industry grew, so did the use of trading robots. In this article, we will discuss the best cryptocurrency trading bots in 2021.

They use the information to place buy or sell orders on behalf of the user.

Bots operate according to a predetermined and programmed set of rules. To track activity in the markets. In addition, bots can have trading strategies. But users can also customize the bot according to their priorities.

There are many cryptocurrency trading bots currently available. Some are free and some are in exchange for a subscription fee. In this article, we present the top 10 cryptocurrency trading bots in 2021. But before we get to that, let’s first dive into the topic “What is a Cryptocurrency Trading Bot?”

What is a crypto trading bot?

As stated above, for those who want to know, "What is a Cryptocurrency Bot?

The main goal of the program is to reduce losses and risks.

These apps help you manage all your digital currency exchange accounts in one place. Many of these programs allow you to trade on Ethereum (ETH), Litecoin (LTC), Bitcoin (BTC) and more.

Typically, the bot tries to interpret market data, closely monitor price movements, and react according to the rules. In addition, millions of people use trading bots to keep a firm grip on their trading activities.

Now that you are familiar with what a cryptocurrency trading bot is, let's take a look at the history of cryptocurrency trading robots.

History of crypto bots

Back in 1949, no one knew what a cryptocurrency trading bot was. Hell, the rigid concept of cryptocurrency didn’t even exist back then. However, Richard Donchian came up with the concept of an automated trading system. In particular, he came up with a set of rules for buying and selling funds.

Eventually, well-known traders like John Henry began to embrace the idea of ​​"rule based trading" in the 1980s.

Since then, trading bots have become famous in the cryptocurrency market. However, it was usually a bit more expensive. In addition, they were out of reach for average investors. In addition, over the years, cryptocurrency bots have continued to improve in terms of functionality and sophistication.

Some of the advanced trading bots are cloud-based and run 24/7. Thanks to this, traders do not need to keep their computers turned on every time. This is because the bot is cloud-based and will work for users throughout the day.

When to Use a Cryptocurrency Bot?

Specifically, features include rebalancing, data collection, portfolio management, smart order routing, etc. What's more, repetitive administrative tasks take a lot of time and effort. Luckily, the trading bot makes it easy to perform virtual copy and paste operations.

Trading also requires users to have good timing and a high degree of accuracy. Every single trade that users make can have a huge impact on their earning potential. In addition, a cryptocurrency trading bot can be easily programmed to monitor the market.

Sometimes users need to stay awake all the time, carefully reading price charts. Since this is not humanly possible, they can use trading bots instead.

What to Look for When Choosing a Cryptocurrency Bot

Reliability

Reliability is an important factor to consider when choosing a cryptocurrency trading bot. Users must pay for a crypto exchange that users can rely on. Moreover, the bot must constantly scan the cryptocurrency market. As well as identifying opportunities with a high probability that can bring optimal profit.

In addition, a cryptocurrency bot should get rid of downtime, since exchange opportunities can appear at any time. Similarly, the bot should work while the market is open.

While there is no reliable way to know if a bot is trustworthy, you can check reviews from other users. Specifically, you can find feedback on whether the bot keeps crashing or is suffering from other crashes, etc.

Security

Hackers can target trading bots and exchanges. That's why it's so important to keep the bot safe. Look for one that has a good security track record. Also, make sure the team behind the bot is trustworthy and legit. Also, make sure there is an active community of happy users.

When choosing a bot, users must choose one that does not have full access to the money or user account. This way, users will be able to limit the damage if something goes wrong while trading.

Ease of use

Look for one with an intuitive interface that suits the user's knowledge level. 

Be sure to also check how updates are released - whether bugs are fixed efficiently and in a timely manner. It is also important to find a bot that best suits the user's trading strategy. Also, check how many settings you need.

Price

Cost is paramount when choosing a cryptocurrency trading bot. A good bot needs to have a balance when it comes to the costs associated with identifying and executing trades on behalf of clients. Moreover, using a cheap crypto bot may not help.

Similarly, an expensive bot may not guarantee maximum profit. Any leading Bitcoin bot should have interests in the form of costs consistent with its success. In this case, the bot should be ready to reduce the commission in case of a losing trade. Likewise, he should not be biased by charging in excess of profitable trades.

Transparency

Users love trading with a cryptocurrency bot that has well-defined exchange processes. Moreover, the algorithms used to create high probability trading opportunities should be easily accessible to all users.

Similarly, a cryptocurrency trading bot should make it easy to understand how it identifies exchange opportunities and makes a profit. In addition, by looking at reviews online, users can determine the level of transparency of any leading cryptocurrency trading in the market.

Trading Strategies

The exchange strategies that a cryptocurrency trading bot uses should ideally match the user's trading goals. If you are a long-term trader, then the bot should be able to deploy long-term strategies such as position trading.

Similarly, if you are a short-term trader, a cryptocurrency trading bot should be effective at scalping or swing trading.

Why Consider Using Crypto Trading Bots?

It also never closes. However, it can make Bitcoin and other cryptocurrencies very profitable if traded wisely. But it also increases the risk of significant losses.

A cryptocurrency trading bot can help mitigate some of these risk factors. Unlike humans, bots will only trade based on available data and trends. Moreover, emotions and impulses are excluded from the decision-making process.

Bots can also work around the clock. Thus, the user can continue trading even when he is sleeping or doing something. Moreover, trading bots have the advantage that they can work faster and more efficiently than manual trading people.

Moreover, these bots can analyze data and make trades across multiple exchanges and cryptocurrencies.

Top 10 Crypto Trading Bots of 2021

Pionex

Pionex is one of the first exchanges in the world with 12 free cryptocurrency trading bots.

 Profit Bot and Spot-Futures Arbitrage Bot.

Functions:

• Provides 12 free trading robots for retail investors.

• Lowest trading fee compared to other exchanges (trading fee is 0.05% for maker and taker)

• Spot-Futures Arbitrage Bot Helps Investors Earn Low-Risk Passive Income

• Smart Trade Terminal allows traders to set stop loss and take profit

• FinCEN Financial Services License (MSB) Approved

Quadency

Quadency is a cryptocurrency asset management application that provides an automated trading solution for both retail and institutional traders. It offers a huge number of features including pre-configured trading bots, advanced charts, market statistics and portfolio analytics.

Functions:

• Helps users easily set up bots

• Provides a suite of automated tools and advanced TradingView charts

• Users can get a good level of customer support

• Allows users to trade on Bittrex, Binance and Kucoin.

• Offers different types of trading bots that can be easily customized

• Supports automated trading

Bitsgap

Bitsgap is also one of the best cryptocurrency trading bots in the world. This makes it easy to manage crypto assets. Also, the application can check more than 10,000 crypto pairs. What's more, it allows users to create their bot strategy in just a few steps.

Functions:

• A fully automated bot that works 24/7

• Users can check the settings before investing

• Available without download

• Funds are kept on the balance of the exchange for security purposes.

• His BTC trading software helps you earn more profits

Mudrex

Mudrex is one of the most famous cryptocurrency trading bots that allows users to easily build a strategy. In fact, it allows users to check good and bad investments. This helps users choose between rewards and risks that suit their needs.

Functions:

• Offers historical data for strategy testing

• Offers an intuitive interface

• Helps users increase their ROI

Coinrule

Coinrule is an automated trading platform. It allows users to trade on Binance, Kraken, Coinbase Pro, and other exchanges. In addition, the platform allows you to use various trading strategies, including stopping loss and taking profit and integrates the main technical indicators.

Functions:

• Offers real-time customer service

• Allows users to test rule performance on past data

• Sets own trading rules

• Has a market indicator that helps users distribute funds easily

• Provides military-grade encryption

• Provides 24/7 trading

3Commas

3Commas is one of the best cryptocurrency trading bots that allows users to increase their income. In addition, this application allows users to earn profits with minimal effort. Moreover, it allows users to create a strategy based on 20+ trading indicators.

Functions:

• Users can sell and buy coins in one window

• Users can copy the settings of other bots

• Allows users to balance portfolios while maintaining coin ratios

• Supports backtesting, dollar value averaging, signals, TradingView custom signals, etc.

HaasOnline

Haasonline is one of the best cryptocurrency trading platforms that allow users to trade with over 16 bots. It offers over 50 technical indicators, insurances and protections that can be used to create complex strategies.

Functions:

• It offers programmable scripting bots.

• Users can integrate backtesting with Discord (VoIP) and Telegram apps.

• This application offers a customizable control panel.

• Offers a tutorial to familiarize users with the platform.

Shrimpy

Shrimpy is a free cryptocurrency trading bot. However, this app has automated trading strategies that help users improve performance and reduce risk. In addition, it helps users develop a portfolio strategy, monitor performance, and control the market.

Functions:

• The API key is securely encrypted and stored in accordance with the Federal Information Processing Standards (FIPS).

• Simplifies user portfolio management

• Allows users to view the current market price

• Offers a dashboard that includes per-asset statistics and portfolio performance metrics.

Price: Free

Cryptohopper

Cryptohopper is one of the best and most free cryptocurrency trading bots.

Functions:

• Allows users to create their own technical analysis

• Allows users to easily get strategies and bot templates

• Protects your account with secure protocols

• Maintains the privacy of user data

• Offers a user-friendly interface

• Provides real-time performance reports

Tradesanta

TradeSanta is one of the best and free cryptocurrency bots that allows users to easily manage their risks. This application also allows users to choose a strategy that suits their trading style. Moreover, it allows users to set a target profit amount and close the trade at the right moment.

Functions:

• Users can easily run trading bots with short and long strategies.

• Provides 24/7 support

• Allows users to buy or sell large amounts of cryptocurrencies without any problems

• Offers a wide range of preset templates

• Users can track the bot in real-time

Pros and cons of using a crypto bot

Here are the pros of using trading bots:

This is not possible for people who are bad at multi-tasking.

Increased speed: Trading bots help users place an order quickly. In addition, a delay with a digital currency can lead to a loss of its value. Therefore, bots are more efficient than humans.

Duration of work: It is not always possible to stand in front of a PC and study attachments. Trading bots in this case work 24/7 and therefore do not miss the opportunity.

Cons of using trading bots:

Not for inexperienced traders: Cryptocurrency trading requires proper knowledge in the use of bots.

Monitoring Required: Cryptocurrency trading bots are useless during periods of high volatility. Moreover, this is because they are not tied to money and hence it can lead to huge losses.

Security Issues: Crypto bots transact through API integration. However, the nature of exchanges and bots may present some undesirable risks. Thus, traders should be very careful when trading digital currency.