When bitcoin was launched on January 3, 2009, the community was sceptical about the future of cryptocurrency. But today, since your scrolling stopped on this article about the best crypto trading bots, it means you are also into the crypto investing. Bitcoins or altcoins are facilitating the speculative motives of traders and investors (due to its highly volatile nature), so one needs to study the charts and analyze crypto markets regularly for better profits. Phew!! It can be exhausting exercise, and you may end up either in losing your money or leaving the crypto markets. But, before taking any decision, scroll down and read.
What Is Crypto Trading Bot?
A trading bot is simply a software which has been designed to study and analyze charts and crypto trading data for improvised results. Once you have the crypto bot, you need to customize the software as per your preferences and it will evaluate the crypto market as per your predilections and will trade on its own. Technically, crypto robots or crypto bots are based on uniquely designed algorithms which utilize a variety of indicators to judge the entry points of the market.
How Do Crypto Trading Bots Work?
Do you still consider the idea of automated trading vague? Or are you wondering how do crypto trading bots work? No need to worry. You need not know the language or software on which it operates. You need to be clear with your parameters. Each bot is designed in a manner that it will signal you as and when your metrics align with market conditions and suggest you make your transaction( can be buying or selling). The pre-designed strategy helps the investors efficient and more profitable crypto trading without diverting the massive funds for market analysis.
Is it possible to make your bot? But how to make a bitcoin trading bot? Besides the readymade crypto bots, open-source crypto trading bots are also available in the crypto space. Yes! They exist for real for the professionals with coding skills who wanted to have their bots made by them only. Open-source crypto trading bots have the software that is available for free which could be downloaded by anyone, easily editable and can be customized as per your strategies (in other bots strategies for trading are already decided). It can guide you not only in selling or buying but also in portfolio management along with analyzing your risk profile and aid one to handle the situations accordingly.
Either you buy the pre-designed crypto bot, or you want to customize the open-source, trading bot can initiate better trading options. Your crypto market analysis will be improved, and you can even earn the millions from the popular crypto trading, thereby could be proved as one of the best crypto trading tools this year. To make your task a bit easier, let this article enlist the best cryptocurrency trading bots of 2020.
Best Crypto Trading Bots (Updated List)
As the trading bots are available 24/7 and are aiding the automated way of crypto trading, the major part of the crypto coders community is involved in developing the best crypto trading bots. There are a variety of bots available in the market with their advantages and disadvantages. So, to initiate your purchase with crypto bots, the updated list of frequently used and recommended bots is given below:
Cryptohopper, being a newly introduced trading bot in the crypto trading, has gained popularity due to its variety of features. Being the cloud-based bitcoin trading bot, it allows the trading even when your system is turned off. Expertise and professionals of crypto space decide the trading strategies applied through the Crypto Hopper, thereby it is one of the best options for newbies or the community who want to trade but don’t know about the analysis. It permits for free one month trial which can be upgraded as per your requirements.
Cryptotrader achieved a reputable position in the list of best crypto trading bots in 2020 as it introduced the feature of “market strategy”. It is also a cloud-based trading bot and helps to take decisions after consulting with other traders. It provides a tool for backtesting which allows the traders to “try and test” their strategies under present conditions of the market. Along with notifying instant alerts, Cryptohopper allows the users to actually purchase the “trading strategies” from its Strategy Marketplace.
Gekko, one of the unique and considered the best free crypto trading bot. It is an open-source trading bot and can be downloaded from GitHub platform without any fee. Supporting around 18 crypto exchanges, Gekko provides a live price value of BTC, examining the market indicators and backtests the policies of crypto trading in a more straightforward user interface, thereby placed in the list of the best crypto trading bot 2020.
HaasBot, which was developed in 2014, is now available with four different algorithms that efficiently presents chart recognition and revives the features for enhanced strategies. The robot provides the options for trading nearly 500 types of crypto coins in a user-friendly web platform. It is one of the oldest free bitcoin trading bot available in the crypto space offering support to almost all the popular exchanges in the crypto space.
Gunbot or Gunthy is currently having around 6000 active users and highly recommended for both beginners and advanced traders for trading in crypto markets. It stands among the best crypto trading bots of 2020 with the support of the exchange services platform like Cryptopia, Bittrex, Binance etc. With inbuilt trading strategies, the bot allows you to experiment with small investments before full-fledged trading in the market, thereby increasing your confidence.
Thus, with the ongoing popularity of bitcoins, you might not resist yourself to trade in the crypto markets. But, analysis of the market charts, researching the best sites, developing the strategies and detailed understanding of the market would consume a lot of your time. Thus, you can try the automated trading with a highly secured, simpler interface and easy to use trading bots and initiate the trading (You get the time to study in the meanwhile!). Crypto trading bots have entirely changed the realm of crypto space so you must utilize them and start gaining from the automated cryptocurrency trading.
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