Automated trading bots are software for conducting trades automatically on behalf of users. The bots will according to certain parameters and prefixed rules. The bots are typically created and configured by top-tier institutions and the average person will not know the algorithms that they use to operate. Bots are especially beneficial for first-time traders who may not have the level of expertise or trading knowhow to execute successful trades from the start. Visit https://bitcoinup.io/ to learn about the algorithm used to develop automated bitcoin trading bot. Here are some of the well-known and highly recommended crypto trading bots for 2020:
- Cryptohopper: This is one of the most popular automated cryptocurrency trading bots that offers stiff competition to 3Commas. It was set up in 2017 and has executed trades for almost 140,000 traders since establishment. Cryptohopper provides multiple variables so that you can customize the bot according to tried and tested strategies you prefer. Cryptohopper allows you to enjoy features like bear and bull market signals, trailing stop-loss orders, dollar-cost averaging, consolidation period training, etc. The interface is user-friendly making it super easy for newcomers to start building their own trade bots.
- 3Commas: This crypto trade bot was launched in 2017 and has been customized to cater to all levels of experience. You can use this bot at 13 exchanges like Binance, Coinbase Pro, BitMEX, etc. You can create your own trade strategies from scratch or even buy a preexisting one from its online marketplace. The bot is a favorite with advanced traders as it can provide many potential strategies, triggers, and orders. The marketplace is loaded with algorithms and this makes the bot useful for those with limited trade experience. 3Commas offers 4 packages, with even the free plan providing many strategies and access to the marketplace.
- Live Trader: When you want a bot with a lot of customization options you should consider Live Trader. You can install more than 250 indicators into the prebuilt trading bot like RSI or SMA. The platform even offers a market containing 100 and more trade strategies.
- Haasbot: This trade bot was launched by HaasOnline in 2014 and since then, has been supported by several Bitcoin crypto exchanges like Poloniex, Bitfinex, Kraken, Huobi, and Gemini. It is popular for trading both Bitcoins and altcoins. While the bot has been created to analyze market data, it needs input from users to conduct trades. It is also customizable and equipped with key technical indicator tools. This allows users to predict trend patterns that are helpful for ensuring successful trades.
- GunBot: This is a comprehensive trade bot provider which is meant for people having coding experience. This is why you can enjoy a high degree of flexibility where bot designing is concerned. You will find the programming interface on all key devices like Linux, Windows and Mac operating system. GunBot provides users with 4 key packages of varying prices; each contains multiple trading strategies and unlimited pairs.
- Crypto Trader: This trade bot is a tad distinct from other Bitcoin trading bot providers because it is cloud-based which means you do not have to set it up; moreover, you can also buy a proven strategy from the marketplace. So, you can enjoy the advantage of creating a trade bot from scratch and buy a tested strategy. It can send notifications whenever a specific price-point is attained. Besides, you can also test the strategies across all platforms before they are deployed.