The world of crypto currency trading has become a lot more accessible and profitable than it used to be, thanks mainly to the advent of crypto bots.
Trading bots are computer programs that trade on behalf of traders, using pre-programmed algorithms to buy and sell crypto currencies when market conditions are favorable.
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Why Do You Need Them?
As the interest in crypto currencies grows, so does the number of people trading them. However, the cryptocurrency market is still young and growing. This means that many new investors are coming into the field every day looking to make their fortune.
The problem is finding a good strategy for investing in this market when it’s constantly changing and shifting with time.
The solution to this problem for some people has been automated crypto trading bots. These are computer programs that can buy and sell crypto currencies on exchanges based on a set of predefined rules.
This blog post will discuss 4 different automated crypto trading bots that you can use for your own investing needs!
The first one we will look at is Haasbot.
Haasbot is a popular trading bot among cryptocurrency traders and the only such software that supports multiple assets and arbitrage opportunities, trade alerts (which can be implemented with an additional paid add-on), cloud storage of your wallet(s), and more.
The main problem lies in its high price tag: 0.12 BTC per three months or slightly over $200 per year makes it one of the most expensive trading bots available today!
Next on our list is CryptoTrader. This automated crypto trading platform offers eight different strategies which you can use to make trades on supported exchanges, including Binance, Bitfinex, Kraken, GDAX/Coinbase Pro, Poloniex, etc.
With CryptoTrader charging between 0.03 BTC to 0.07 BTC per month, depending on the package you choose (not including some advanced features which are paid extras).
Next, we have Tradewave, a cloud-based trading platform that aims to make automated crypto trading accessible for even novice traders through its easy point and click interface – no coding experience required!
With just over two dozen supported exchanges available, there is plenty of potential for finding the best markets to trade cryptocurrencies in without having any prior programming knowledge or experience with TA indicators like RSI, etc.
One problem with this approach is brokers often stop supporting new coins within weeks after they’ve been added by exchange, so users can end up missing out on the best trading opportunities for coins they want to trade in most.
Last on our list, but certainly not least, is Cryptohopper. This cloud-based automated crypto trading platform offers many of the same features as its competition (with support for over 40 major exchanges and a ton of different strategies) at a significantly lower price point: 0.01 BTC per month or less than $20!
The main drawback lies with an average user rating of just under three out of five stars from more than 750 reviews – it seems that discount has come at the expense of functionality issues such as failing stop-loss orders, so make sure you do thorough testing before settling on this option!
In addition to those, there are also several other solid options available, including Gunbot, Gekko, and Haast. The main problem with all of them is that they are either overly complicated to use or require a significant initial investment – in both cases, leaving many novice traders out in the cold!
In conclusion, while there are plenty of different automated crypto trading bots available for cryptocurrency traders to choose from, you need to be sure that the bot in question both works on your desired exchanges and supports the right set of features that suit your trading style.
As always, make sure you do thorough research before committing any money to a particular service!