Cryptocurrency trading is a fascinating endeavor but also a complicated one. Trading bitcoins and altcoins on a daily basis has the potential to produce attractive income while also being exhausting.
A large number of traders rely on trading bots to automate trading which means they could theoretically earn crypto even in their sleep. While bots perform the trades just like you would manually, they can be set to do it unattended 24/7.
Bitcoin trading bots are basically software programs designed to use a given set of rules and technical analysis indicators to perform trades. If configured well, they are an excellent way to make passive income.
Best Bitcoin trading bots
Numerous cryptocurrency exchanges allow the use of Bitcoin trading bots and there are both free bots and paid bot trading services. When selecting one, you should start by considering the best Bitcoin trading bots. We’ve carefully handpicked the top ones and we’ll analyze them in detail below.
Gunbot is one of the most comprehensive crypto trading bots currently available and includes numerous settings and options that make it suitable for both seasoned and newbie traders.
On top of that, you can create your own strategies and the latest version has a feature called “Reversal Trading” which allows it to continue trading using the already invested amount of base currency.
You can use Gunbot on all popular exchanges, including Binance, GDAX, Poloniex, and Bittrex with support for more exchanges expanding on a regular basis.
The bot has a solid user base which also makes a helpful and welcoming community. There are several packages you can choose from with prices ranging from 0,03 to 0.16 BTC and you can upgrade them as needed. It’s also worth mentioning the license requires a one-time payment with lifetime free updates included.
BTC Robot is a veteran on the bitcoin trading bots market and provides several plans for software features and membership starting at $20 monthly subscription.
The software works on Windows and Mac platforms although it seems it’s slightly more expensive for Mac users.
It’s worth mentioning even the company admits BTC Robot’s algorithmic trading is not able to offer flawless market predictions so expect both winning and losing trades. Considering it has a 60-day refund policy it’s definitely worth a try.
ProfitTrailer is another good cryptocurrency trading bot that offers a vast array of features and a good pricing plan, compared to it competitors. Some users swear that while configured correctly, it’s probably the best trading bot on the market right now. While this may be a bold statement, ProfitTrailer is definitely one of the best bots on the market. The “problem” with this bot is that it’s not that easy to configure and while it has a lot of documentation to help, it may scare off some users. Still, once you get past the initial configuring, the software is a breeze to use with the occasional pairings and indicators tweaking.
At the moment of this writing, ProfitTrailer supports only 4 exchanges: Binance, Huobi, Poloniex, Bittrex and KuCoin. We’re not sure if support for Coinbase will be added soon but that’s definitely a feature they must implement to keep up with the competition.
ProfitTrailer comes in 4 possible packages, starting from 90 eur/3 months to 450 eur/year. As you can see from the screenshot, you have several big advantages if you subscribe to a higher tier.
As a conclusion, we have tested ProfitTrailer for about 2 months and while the test wasn’t made for a long period of time with different market sentiments (trades were made mostly during the bear market), we can say that ProfitTrailer is one of the better bots out there and it’s worth trying out.
Gekko is a free and open-source Bitcoin trading bot and backtesting platform. It supports 18 Bitcoin exchanges, Poloniex, Bitstamp and Bitfinex being among them.
The trading bot includes several basic strategies which means even beginners can use it. Its web interface allows you to monitor strategies, local data and other trading variables. You can rely on Gekko to perform backtests and view results.
Gekko also provides supports plugins for IRC, Telegram, email and other platforms in order to send you updates. You can use the software an Windows, Linux, and Mac, in the cloud, and on Raspberry Pi devices.
CryptoTrader is a lesser-known trading bot but still worthy of attention. The software is cloud-based so you don’t need to install it and was designed to let users quickly create algorithmic trading programs.
One of CryptoTrader’s more unusual features is its “Strategy Marketplace” that allows users to buy and sell trading strategies.
Live trading and backtesting support are available for all major cryptocurrency exchanges such as Binance, Coinbase, Bittrex, Bitstamp and others. The backtesting tool shows you how your strategy would work over various market conditions.
Cryptohopper is one of the newer crypto trading bots but it’s seen as one of the popular ones due to the fact that it’s the only cloud-based trading bot on the market. What this basically means is that the bot will continue doing trades even if your computer is turned off which is a pretty nice feature.
Another awesome feature is that Cryptohopper has a featured called “signalers”, meaning 3rd party technical analysts can send you buy signals to you directly. This adds a very efficient human element to the bot which may increase your revenue exponentially. Keep in mind that the “signalers” is an extra paid service, most signalers aren’t included in the base price.
Cryptohopper is also offering a trailing stop-loss feature and while it’s not the only software doing that, some users praise it to the moon. As we’re aware, Cryptohopper is the only bot that grants you free trial for a month, with the ability to upgrade to Bunny ($19/m), Hare ($49/m) and Kangaroo ($99/m) if you feel like this bot is worth investing in.
Zenbot is another free and open-source trading bot which means anyone with the proper skills can change the code as needed.
The Bitcoin trading bot provides support for multiple assets at the same time and is one of the lightweight automated trading solutions.
Support is provided for a select number of exchanges, specifically Bittrex, Gemini, GDAX, Kraken, Quadriga, and Poloniex with plans to add more exchanges in the future.
The Haasbot trading bot has been around since 2014 and it’s quite well-known among the well-versed crypto traders. It can be used to trade Bitcoin and more than 500 altcoins on major exchanges such as Gemini, Kraken, GDAX, BTCC, Huobi, Poloniex, and the list goes on.
Haasbot allows you to fully automate your trading strategy by customizing various settings and can also recognize candlestick patterns.
The automated trading software has three plans which you can choose between with 3 months, 6 months, and 12 months subscription options. Prices start at 0.028 BTC for the Beginner 3-months plan.
Leonardo is a Bitcoin trading bot that offers support for quite a few exchanges, namely Huobi, Bittrex, Bitfinex, OKCoin, OKCoin CNY, and Bitstamp.
It’s also in active development with new updates and market plugins already in the making. Leonardo currently provides the Ping Pong Strategy and Margin Maker Strategy bots.
The Ping Pong strategy is as simple as it sounds. You set a buy and sell price and allow the bot to do all the work for you. The Margin Maker strategy is more comprehensive, allowing you to buy and sell based on price action changing based on the course direction of the market.
It’s also safe to say Leonardo has one of the most polished and intuitive UIs when it comes to trading bots. The software used to provide licensing options in BTC but now they are priced in US dollars and start from $15/month for the Starter plan paid annually.
It may not be possible to have a definitive list of the best Bitcoin trading bots since the industry is ever-changing, we’re hoping our selection makes a great starting point to help you find one suitable for your needs.
Keep in mind there are always risks associated with trading cryptocurrency even when using a reputable trading bot. The best approach is to read as much documentation as possible and avoid large investments in the beginning.