Making profits from the highly volatile cryptocurrency market is all about timing and access to sound trading strategies and technical analysis. With hundreds of assets to choose from and markets open 24/7, the learning curve for new crypto traders is much steeper and the potential for losses is often much greater.
For these reasons, crypto trading bots and software platforms have become essential for many traders. By employing software to trade automatically on your behalf, not only are you able to execute trades at any hour of the day, but many crypto trading bots have features that actually help you develop and refine your own trading strategies. In the highly volatile crypto market, chances are you’re already trading against bots whether you realize it or not.
This guide provides a detailed breakdown of the best crypto trading bots and the unique advantages they provide, but first we’ll go through a high-level overview of the most relevant features to be aware of when you’re analyzing various crypto trading bots, tools, and platforms.
Any automated trading system is based on a set of rules that dictate when to buy or sell. Bots have been used in the traditional stock market since the 1980’s to curate index funds and diversify portfolios. These bots automate the work that investors have historically carried out themselves, which can save crucial time in the fast paced crypto market.
Then there are technical trading bots that predict price movements and execute trades based on signals and indicators. These are the most commonly used bots as crypto traders race to beat the market with a winning strategy.
All of the trading bots featured on this list have been well reviewed in various crypto trading communities and websites, but nothing beats trying out the product for yourself. The majority of tools and platforms on this list offer a free trial, but be sure to double check.
In addition to developing your own trading strategies, you may want the option to follow other traders and other common strategies used with the product. A good strategies marketplace built within your trading tool of choice will make it easy and cost efficient to benefit from profitable trade strategies.
Backtesting allows you to test trading strategies against historical data to see how your algorithm or trading strategy would have performed under real market conditions. Obviously, you want to have access to backtesting features that create the most realistic simulations which means taking into account slippage and latency. This means that the accuracy of the backtesting tool is only as reliable as the historical data sources that it pulls from. You’ll also want to look for a robust community of traders who share their backtesting configurations on community forums.
Many trading tools offer portfolio automation, and it’s important to consider how they create their indices. Unlike with stocks and securities, it’s not possible to maintain a complete index of all coins currently traded in the crypto market. So a good trading bot should have educational content that details which coins are sampled and how market caps are weighted in the index.
Most of the newest crypto bots are cloud based, so if convenience is a high priority for you, this is something to be aware of. If a trading tool is not cloud based, you will have to keep your server/computer running at all times to make sure you don’t miss any trades. While it does require some technical know-how to run trading software on your own server, the upside is that it’s more customizable and typically has higher performance. If this is a priority for you, then there are some great open-source programs on this list.
When it comes to trading, the community around a product can often be just as important as the product itself. You’re paying not just for the technology but for the living manual that will help you use it most effectively. If you really want to get the most out of your trading software it’s a good idea to check out the trading community that is using it. Many of the trading tools on this list have made big investments in community development, while others are more suited for the lone wolf traders. Compare how active the trading communities are on Telegram, Reddit, or Discord. It’s also important for you to consider the country and language of the trading community as crypto regulations are different all around the world.
As you consider which trading tools to invest in, take a look at the educational content that is available on the site. In order to reach the growing market of new crypto traders, many of the platforms on this list have developed training modules, blogs, and videos to educate their users. Also consider the support offered for when things inevitably go wrong. With responsive chat or phone support, bugs and updates can be promptly addressed so that you can get on with trading—otherwise you might waste valuable time waiting days or weeks for email reply.
It can be easy to rack up a high number of trades when trading with crypto bots and automated tools. This can make reporting your crypto gains and losses on your taxes challenging if you don’t have the right software. It’s important to look at the crypto tax software companies that are compatible with your trading platform of choice. CryptoTrader.Tax is the leading crypto tax software that is partnered with many top crypto trading bots, terminals, and tools on this list. Having good crypto tax software that supports your crypto trading strategy will keep your tax reporting extremely easy and stress free.
Checkout this guide to learn more about how crypto tax reporting works.
CryptoHopper is one of the most used trading bots on the market, and it offers many of the features that a beginner should be looking for: paper trading, backtesting, trailing stop-loss and a strategy designer tool that makes it easy to customize your trading strategy with the help of over 130 indicators. They have a robust tutorial section for beginners as well as the option of purchasing the best strategies and templates from expert traders. Within their signaler dashboard they make it easy to subscribe to many external signalers. CryptoHopper is cloud-based and supports up to 12 exchanges, and they are always adding more. For advanced traders, CryptoHopper has a marketplace of free and paid signals which you can combine with technical indicators to customize your own strategy.
They do have a free Pioneer package that enables manual trading and portfolio management, but if you really want to get a sense for their trading bot you should try their 7-day free trial of the Explorer package. They have three packages for a monthly subscription ranging from $19 to $99.
Binance, Binance.us, Bitfinex, Bittrex, Coinbase Pro, Bitvavo, HitBTC, Huobi, Kraken, KuCoin, OKEx, Poloniex
Bitsgap is a newer bot on the market that allows for automated trading with pre-built algorithms. These algorithms allow users to take advantage of fluctuating market movements and ideally generate profit on eery trade. In addition to out-of-the-box algorithms, Bitsgap offers signals to users alerting you of coins with the strongest potential in the short or long term.
The Bitsgap tool also offers a complete trading terminal allowing users to make trades directly in the app. Checkout Bitsgap here.
The company offers a free 14 day trial to get started. Tiered plans range from $19 to $110 per month after the free trial expires.
Binance, Bitfinex, OKEX, Huobi, HitBTC, Bittrex, Kucoin, Exmo, Kraken, CEX.IO, Livecoin, Poloniex, Bitstamp, Coinbene, Coinex, Gemini, Gate.io, Liquid, Yobit, Bibox, Bit-Z, DDEX, BigOne, Bithump
HaasOnline is one of the most popular automated trading platforms for advanced traders, and it has a proven record since 2014. They started out with a server based platform but have recently added a cloud based option as well.
Haasonline has a powerful backtesting engine that draws from up to 56 weeks of historical data. One of its premier features is the Flash crash bot which allows you to do a spread order strategy on the market you choose. They currently support 22 exchanges and margin traders will be pleased with the wide variety of futures trading platforms available. Though it is a great option for advanced traders their Visual Editor does simplify the process of building trade strategies without coding.
Haasonline offers three packages for a one time payment of .047 BTC for Beginner, .083 BTC for Simple, and .135 BTC for Advanced. They do not offer a completely free trial, but you can try their premium plan for 2 weeks at a discount.
Binance, Bilance Futures, Binance.us, Bitfinex, BitMEX, Bitpanda Pro, Bitstamp, Bittrex, Cex.io, Coinbase Pro, Deribit, Gemini, HitBTC, Huobi Global, Ionomy, Kraken, Kraken Futures, KuCoin, OkCoin, OKEx, OKEx Futures, Poloniex
3Commas is a new contender in the automated trading bot space that uses Dollar Cost Averaging to inform trade decisions.This platform especially stands out for their trailing stop tool. This means that you can take advantage of a sudden price rally because the trailing stop will keep your position open for as long as the price increases. As soon as the price reverses, your position will automatically be closed. Another great feature of 3Commas is that they offer multiple currency support.
3Commas is a cloud-based platform and supports up to 20 exchanges. Beginners can start with their paper trading feature to test out their strategies. Advanced traders will get value out of their SmartTrading tool which allows trading from multiple exchanges and pairs from within their streamlined interface.
3Commas has also partnered with CryptoTrader.Tax to bring automated tax reporting to their users.
3Commas offers a 3-day free trial for the Pro package, which lets you try out all of their features. They have monthly subscription plans ranging from $22, $37, and $75. There’s a 15% discount for a 6-month subscription and 25% off for a yearly subscription. If you want to access marketplace signals that is an additional subscription through their Marketplace.
Binance, Binance DEX, Bilance Futures, Binance.us, BitMEX, Bitfinex, Bitstamp, Bittrex, Bybit, Cex.io, Coinbase Pro, Exam, Gate.io, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, Poloniex, YoBit
Shrimpy is a portfolio management platform that also provides tools for automated trading. Shrimpy became famous for its auto-rebalancing portofolio tool; however, recently Shrimpy launched their very own terminal for trading across multiple exchanges. The terminal allows you to trade directly from the Shrimpy interface instead of having to go to an exchange. This is another platform that really stands out for streamlined UI and strong tutorial section. They offer a wealth of features including backtesting, social trading, and portfolio rebalancing.
Shrimpy has a great community as well as social trading features built in. You can tap into the community through Reddit, Telegram, or Discord to learn more about how other users are leveraging the tool and making profits.
Shrimpy has also partnered up with CryptoTrader.Tax to offer a simple solution for tax reporting to its users. If you become a shrimpy user, you can sleep easy knowing that your tax reporting can be automated with this CryptoTrader.Tax partnership.
Getting started building out your automated portfolio is free. Once you move onto more advanced features Shrimpy is $13-$19 per month. They also offer enterprise pricing for businesses and crypto companies looking to leverage their software for trading.
Bibox, Binance, Binance.us, Bitfinex, BitMart, Bitstamp, Bittrex, Bittrex Global, Coinbase Pro, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, Poloniex
Coinigy is one of the leading cryptocurrency terminals on the market. Similar to a few others on this list, the Coinigy platform allows you to integrate directly with your exchanges of choice and the trade across all platforms directly from the Coinigy UI.
Coinigy is a cloud-based platform that in addition to web, offers iOS and android apps of its product—allowing users to trade via mobile devices. You can also use Coinigy’s suite of over 75 technical indicators as well as their apps and third party integrations to make sure you never miss a trade.
The Coinigy platform boasts hundreds of thousands of users leveraging its suite of trading tools today, so you know you are in good hands.
In addition, the Coinigy team has partnered with CryptoTrader.Tax to allow all of its users trading on its platform to have access to easy tax reporting. Coinigy users can import their trades directly into CryptoTrader.Tax and the software will automatically create their needed tax forms based on their historical trade data. See more about this partnership here.
A monthly subscription ranges from free (for just getting started), to $18.66, to $99. Higher tiers get access to a greater depth of features and tools.
Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, Coinbase Pro, Huobi Pro, Kraken, Kucoin, Poloniex
Zignaly is another new trading terminal that offers a free trial with their paper trading option. What started out as a top provider of cryptocurrency signals, has grown into a full-fledged crypto trading platform and suite of tools for traders.
Zignaly offers copy trading, trading bots, and a full crypto terminal within the platform. It is cloud-based software, and the team is focused on being a low barrier to entry platform that simplifies the entire process from start to finish.
One of the best features of Zignaly is the depth of their signals integrations. You can pull in signals from your favorite signals provider to trade automatically on these signals.
Zignaly is another trading platform that has partnered up with CryptoTrader.Tax to bring automated tax reporting to their users. See more about the partnership here.
FREE. Zignaly is completely free to use as a result of their partnership with various cryptocurrency exchanges. This is a huge advantage over competing products, and it makes giving the platform a try a no-brainer!
KuCoin, Binance, More coming soon…
When it comes to building your own trading strategies Kryll.io leads the market with their outstanding UI. Their strategy editor offers an intuitive drag and drop interface that allows you to build a trading strategy graphically. You can then try out your strategy in demo mode for free; you only have to pay once you start using it for real trades.
Kryll has a very active trading community which makes their Marketplace a competitive feature for the platform. If you think you’ve created a winning strategy, you can choose to publish your strategy in the Marketplace and earn commission from every trader that uses it. Beginner traders might want to start with renting a strategy from the Marketplace.
Kryll’s pricing model is based on transaction fees per trade. All fees are paid in KRL token and you can lower those fees by holding KRL. They do not offer a free trial, but their pay per use model lets you try out the product a little bit at a time without committing to a subscription. Kryll is an especially good option for Binance users as their partnership can reduce your Binance trading fees by up to 20%.
Binance, Binance.us, Bitstamp, Bittrex, HitBTC, Kraken, KuCoin, Liquid
If you’re looking to try out bot trading for the first time then a free trial with Coinrule is a great place to start. Based in the UK, Coinrule is one of the newer trading bots on the market and their focus is making trade strategy design as accessible as possible. With beautiful UI and an expansive tutorial section written with simple terminology, this platform was designed with beginners in mind. In the spirit of the name Coinrule, trade orders are referred to as Rules. You can develop these strategies within the Rule Page section using IFFTT logic (If-This-Then-That) In this way the Rule Page interface really simplifies the process of setting Conditions and Actions for your trades, with no coding background necessary.
Coinrule does not have any tax reporting partnerships as some of the other options on this list.
Coinrule has a free trial that lets you try out the product with 1 exchange and up to 2 rules. For paid options they have 3 packages for a monthly or yearly subscription. Here are their monthly rates: Hobbyist package is $29, the Trader package is $59 and then the full Pro account is $449.
Bitpanda Pro, Bitstamp, Bittrex, Coinbase Pro, HitBTC, Kraken, Liquid, Poloniex, OKEx
TradeSanta is another cloud-based platform that offers both a great free plan as well as a 5-day trial of their basic plan. Their free plan lets you trade with up to 2 bots, and the basic plan up to 49 bots.
The TradeSanta website really excels at making automated trading feel simple. They have great tutorials and 24/7 support. You can build your strategy using their Long or Short templates or customize your own from scratch. They currently support 6 exchanges with support for BitMEX arriving soon.
They have 4 pricing plans based on monthly subscriptions: Free, $20/month, $100/month. They have one more plan as part of a special partnership with. HitBTC which is $30/month with 0% trading fees on HitBTC. You get unlimited trading pairs and exchanges on each plan. The only difference is that you have access to more bots with the higher priced plans.
Binance, Bitttrex, Bitfinex, HitBTC, Huobi, Upbit
Holdbot is a cloud-based trading bot for portfolio creation, indexing, and rebalancing. If you’re an investor who wants to automate tasks that you would already be doing anyway, HodlBot is a great option. Their strongest feature is their crypto market indices comprised of the top 20 coins by square root market cap. In order to keep the best assets in your portfolio, you need a well researched index, and this is the advantage that HodlBot Provides
You can try HodlBot for free with a 7-day trial and after that pricing is based on portfolio value. Accounts under $500 are $3 per month. From $500 - $100 a subscription is $6 per month. $1000 and above is $14 per month.
Binance, Kraken, Kucoin
4C-Trading is a platform that offers subscriptions to several crypto trading tools. Their approach is a little different than other platforms as you have to start with the Trade Room package before you can add-on bots and signals, but it’s founded in a commitment to creating an educated user base. The Trade Room includes a training module for beginners, a new trading tutorial every day, and access to three TradingRoom indicators, a custom built Trend Follower indicator, and the weekly market Diamond Report. A monthly subscription to the Trade Room is $99 or $900 for the year.
With a Trade Room subscription, you’ll have the option to subscribe to bots and signals. The Telegram-integrated Smart USD Trading Bot is a great option for new Binance traders with fully-automated trading on the BTC/USDT pair. This bot was designed with newbies in mind who want to steadily grow their portfolio. With this comparison chart, it’s clear they’re focused on serving HODLERS who would otherwise keep their BTC in a cold wallet.
Another great tool for new traders is the subscription to Copy Trade trading signals for Binance and Bitmex. With a subscription, you can expect to receive around 20-30 signals through Telegram per month with the option of automated copy trading through API. For those who want to do their own research, 4C displays the performance and results of their signals within the 4C Dashboard.
A monthly subscription to the Trade Room is $99 or $900 for the year. The addition of the Smart Bot is $199 a month or $1788 for the year. Trading Signals are $75 per month or $900 per year.
ProfitTrailer is a server-based technical trading bot that executes over 16 strategies. You can choose between bear market, bull market, and neutral market strategies. It has a sleek layout that makes it easy to use key features such as Dollar Cost Averaging which helps you dispose of low performing assets. ProfitTrailer is a great option for advanced traders, but you can toggle between the advanced and basic strategy editors when developing your trade strategies.
You can check out their product before purchasing by using their live demo on the site as well as a free paper trading option. There are also two free versions in partnership with Binance and Bybit. Paid versions range from a monthly subscription of $30 to two lifetime packages for $799 or $999
Poloniex, Bittrex, Binance, BinanceUS, Binance Futures, Binance Jersey, Binance DEX, Kucoin, Huobi, BitMEX, Bybit
Zenbot is an open sourced bot that is completely free. It distinguishes itself from Gekko Bot with a reputation of providing better support for high frequency trading. You need to be technically savvy to to use Zenbot as it is a command-line cryptocurrency trading bot using Node.js and MongoDB.
The bot features a fully automated technical-analysis-based trading approach. You can also use the built-in simulator for backtesting strategies against historical data.
If you are a developer looking to dabble in automated crypto trading strategies, Zenbot can be an amazing tool to help speed up your strategy build out.
Free and Open-source.
Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, Gemini, HitBTC, Kraken, Poloniex, TheRockTrading
Gunbot is a highly customizable trading bot for advanced traders. It is not cloud-based and requires you to set up your own server, so if you’re concerned with protecting your privacy this is a great option. Gunbot is known for its enthusiastic trading community where thousands of traders contribute in fixing bugs and improving product performance, so it’s no surprise that they support over 100+ exchanges. If you are a beginner, you can start out with their preset strategies. Otherwise you can customize your own.
Make sure you are comfortable setting up this bot yourself. You should have experience and comfortability with code and installing your own program.
You can purchase Gunbot for a one-time payment which includes unlimited updates and support. The prices range from 0.02 BTC to 0.125 BTC to download.
Prior to launching your first automated trading strategy with your favorite bot or platform, you should make sure you have a plan for tax reporting.
Cryptocurrency is treated as property by government agencies like the IRS (the revenue department of the U.S.) which means you need to report your capital gains and capital losses from each of your cryptocurrency trades on your yearly tax return.
This can be difficult to do by hand if you have a number of trades across various exchanges. Cryptocurrency tax software like CryptoTrader.Tax is built to automate all of your crypto tax reporting so you don’t have to do any manual work. Simply connect your exchanges and generate your tax reports with the click of a button.
CryptoTrader.Tax has partnered with many of the trading bots and platforms on this list, so you can rest assured that your tax reporting will be easy.
If you want to learn more about how cryptocurrencies are taxed, how to report, and how CryptoTrader.Tax can automate the process, checkout this article here: The Complete Guide to Cryptocurrency Taxes.