Come on, we have all heard and engaged with bots. These automated computer programs are designed for running certain tasks with minimum human intervention. In the world of crypto trading, we have crypto trading bots to trade either one or several cryptos on one or more platforms automatically on the user or owner’s behalf.
They automate trading strategies, applying them for purposes of simply amplifying the trading profits. In this blog, we will talk about the best crypto trading bots for 2023 – stay tuned to find out which trading bots made it to our list.
But Wait, What Are Crypto Trading Bots?
In 2023, crypto trading bots do so much more than just trade cryptocurrencies. Being based on machine learning, AI, and other smart tech, these bots can obtain data and information from crypto markets in real-time with the help of APIs.
Then, they analyze this data with the help of predefined trading strategies for deriving actionable and usable metrics or even conclusions known as trading signals.
The analysis is actually made with the purpose of predicting crypto prices in the future for Bitcoin or other coins. The exactness or the correctness of the prediction matters the most. The closer the prices are to your predictions, the better the crypto bot and the trading as the profits amplify.
Once the future prices are predicted, they simply place trading sell and buy orders in actual cryptocurrency markets. Since a majority of markets complete the limit as well as other kinds of orders automatically, these sell and buy orders are completed. Hence, they make a loss or profit.
The best crypto trading bots actually obtain information from several social sources, crypto market makers, news sites, and more. This is precisely why they employ artificial intelligence and machine learning for deciphering which pieces of news make a social impact and which will highly influence the market prices.
Bots can be purchased separately as either a single software or integrated into cryptocurrency exchanges.
However, there is no ideal crypto trading bot inspite of them costing millions of dollars. They have still been making losses, though the intention is to basically limit the losses. Moreover, the best bots are used besides human intervention.
The Best Crypto Trading Bots For 2023 (Reviewed And Explained):
Instead of spending time trying to figure out how to build a crypto trading bot, let’s check out the best crypto trading bot providers of 2023 – reviewed and explained! So, without wasting time, scroll down to check out the best bots for crypto trading!
The 3Commas provides twenty-one trading bots that enable traders to leverage the majority of eighteen major crypto exchanges. 3Commas are not just reliable but also very flexible. They can be easily configured to meet different market conditions. They can be customized as well to meet your investment goals as well as trading strategies.
You either copy these strategies from professional traders in exchange for a small fee, or you can also develop these from scratch. 3Commas provides bot presets built by elite traders so that users can easily copy the best strategies with a proven track record.
One of our favorite AI trading bots is Cointule – it’s one of the fastest-growing providers of crypto trading bots with simple, industry-leading UX.
Backed by famous investors like Urban Innovation Fund, Y Combinator, and Angel investors, including famous founders from Eight Sleep, Kayak, and Twitch, Coinrule has helped hundreds of traders invest worth billions of dollars with the help of automation across prominent crypto exchanges such as KuCoin, Coinbase, Binance, and others.
One of the best crypto trading platforms is NAGA since it allows users to set trading automation in order to copy expert traders. This is usually done after a deposit of at least 205 dollars is made.
It might not be your usual chatgpt crypto trading bot, but it makes it relatively easier for traders without any trading skills to earn some money from investments with fixed or regular returns. Besides, the platform also comes with an in-built wallet that enables users to hold, send, withdraw, receive, and deposit cryptos.
Also, trading includes swapping cryptos for another. All these features, including automated copy trading, are supported for more than forty cryptocurrencies.
The copy trading platform of eToro allows users to copy trading insights, crypto trades, and, obviously, trading sentiments from other traders. Users can easily follow other crypto traders either on the basis of a paid arrangement or for free.
The best thing about eToro is that users can watch the portfolios, profits, and other information from the feeds of other users. eToro does not have a committed trading bot program, nor can you utilize bots to actually trade on the platform. The eToroX is the dedicated crypto trading platform of eToro that comes with tools for both institutional and retail traders.
CryptoHopper is a robust, cloud-based crypto trading bot. It employs an approach based on algorithmic programmed trading that enables users to utilize external signals for making intelligent trades. Users can also connect as well as use it with nine different crypto exchanges, including Huobi, Binance, KuCoin, OKEX, Coinbase, and others.
With CryptoHopper, you can definitely leverage both free as well as paid signals from multiple sources. Owned and operated from Amsterdam in the Netherlands, it also makes use of more than thirty trading indicators and more than ninety candle patterns. Plus, it works 24/7, trading several cryptos apart from Bitcoin.
We always save the best for the last – and our favorite here is, clearly, the Pionex crypto trading bot!
Pionex happens to be one of the first exchanges in the world with twelve free trading bots. Users can easily automate their trading without even checking markets 24/7 – it basically aggregates liquidity from Huobi Global and Binance and also happens to be one of the largest Binance brokers.
As one of the best crypto trading platforms, Pionex offers a suite of automated trading bots such as the DCA, Rebalancing Bot, Spot-Futures Arbitrage Bot, Martingale Bot, Arbitrage Bot, and Grid Trading Bot. While the platform happens to be free for use, it also integrates with primary
exchanges like its own Pionex exchange, Huobi Global, and Binance.
The OKX crypto trading bots are actually pre-built to help traders automate trading and customize their strategies with convenience. The exchange provides different kinds of cryptocurrency trading bots, including slicing, arbitrage, and DCA bots.
The bots happen to be available for both futures and spot trading – the futures trading bot enables neutral, short, and long trading strategies. At the same time, they can be applied for both margins and normal trading. Each of the bots is available to all users for free.
Most traders can quickly and easily create them if the traders are familiar with what they are and how they actually work. You just need to log in, visit the bot page from the actual menu, select the type of both, and tap on the ‘Create’ button. You can then proceed towards customizing the different parameters before actually running the bot.
The marketplace for the exchange bot enables traders to share and, at the same time, copy bot trading strategies from various expert users. You can actually see bots being run by different users who are listed on the page, their returned loss and profit percentages, maximum drawdown, runtime, and other details before you can copy.
With the help of ArbitrageScanner.io, you will get a complete manual bot that works without even requesting an API. You can easily set it up and receive notifications conveniently via Telegram chat. The notification formats of the bot are easy for customization, and you can also connect to any coin and exchange that you are hoping to track.
This is not the only bot in the market currently that enables you to actually track the distinction between exchanges and DEX.
The ability to even connect to DEX is invaluable, particularly while dealing across blockchains. Depending on the plan you select, you will get access to an efficient personal manager. This personal manager can help you in multiple ways, such as suggesting what currencies to actually pay heed to or even how to simply manage one’s capital.
Bitsgap crypto trading bot allows users to connect more than 25 crypto exchanges for trading automatically. It also gives users a free trial period of 14 days, and you can log in or sign up with the help of your Facebook or Google accounts. In fact, before purchasing the advanced plans, you can definitely try out the features via a demo exchange.
With Bitsgap, you can do arbitrage across exchanges. And by obtaining accurate market signals within time, you will be able to make the right decisions while trading. Apart from arbitrage and automated trading, you will also get to enjoy portfolio tracking features.
TradeSanta is a cloud-based cryptocurrency trading software suited for both professional and beginner traders. Although TradeSanta functions on a 24/7 timeline, you don’t literally need to be on it for making profits. Just like other crypto trading bots mentioned on this blog, you can hook this to several crypto exchanges like Huobi, Binance, and more.
With TradeSanta, you can use both short and long strategies, a responsible support team, and multiple indicators. With the help of long trade, purchase tokens at a relatively lower price before selling them for higher prices.
The shorting strategy, on the other hand, works in the opposite way – with this particular software, you can use DCA or grid bots, or you can also place orders with the help of Smart Order.
Shrimpy.io is a trading and portfolio management tool that allows users to track and trade portfolios across several exchanges from one platform. You can easily manage as well as trade assets, and that too across sixteen exchanges. Crypto bot trading or trade automation is done on the platform via several indicators as well as strategies.
By beginning the automation button, you can rebalance your portfolio automatically by copying the accounts that you are following. Your portfolio will easily adjust to the account buying or selling automatically when the portfolio of the user you follow actually changes.
Additionally, Shrimpy allows users to social trade by simply following the trades of others. This can help beginners in trading, as well as others who want to earn some commissions by just sharing social trades. By following other traders, you can track their portfolio allocations across multiple digital currencies.
For the ones you follow, you can simply check their number of followers, monthly/weekly/daily performances, chart visualizations, and the timeframe when the investor was active.
Although quite new, Zignaly is a crypto trading tool that allows users to build strategies right from scratch or even use third-party trading strategies. It happens to be one of the best trading bots because it is absolutely free to be used, and that too, without even cutting profits. It is a perfect choice for people starting their journey with crypto bot trading.
You can fully or semi-automate crypto bot trading exercises. It features several traders who can give trading signals for your use. Also, you can actually trade unlimited coin positions and pairs. The bot can easily be connected to KuCoin, Binance, and eight other crypto exchanges – so there are very limited alternatives when it comes to exchanges you can easily connect the same to!
And It’s A Wrap!
Like we were saying a little while ago, you don’t need to figure out how to make a crypto trading bot – instead, check out the platforms for crypto bot trading mentioned above!
Whether a crypto trading bot is automated or AI-powered, it is a crypto trading software fundamentally designed to simply make trading more profitable and definitely easier. Just like the Bitcoin trading software, these bots also make decisions driven by data based on multiple factors like time, trading volume, and price movements.
However, it is essential to remember that while these trading bots can easily increase the chances of making profitable trade, they aren’t really infallible and should instead be used as a part of a much broader, well-researched investment strategy.