We know that Crypto stuff always seems intricate and complex -especially to newcomers. Rest assured that our 'All-in-one' bitcoin & cryptocurrency trading bot guide will fill you in on all you need to know to about the best crypto trade bot & other crypto trading software out there and will help you get started with investing in cryptocurrency.
Don't think that you have to be a math whiz to get started in the crypto currency field. Our crypto trading bots guide is setup to cover all the necessary aspects in an easy-to-understand manner and we do highlight the best crypto trade bot and bitcoin trading bot for you clearly.
Noticed that we are called "The Bitcoin Society"?. That's true!. You will always have the support you need and you'll be surrounded by that society feel that keeps you connected so you don't get lost in the overwhelm by all the different crypto trading software in the market.
What is a Cryptocurrency Trading bot? What is the best Crypto/Bitcoin trading bot and crypto trading software?
A guide for beginners
Unlike stock exchanges, the crypto money market never closes and never sleeps, which, apart from good news, can be a very stressful scenario for traders or even for occasional traders.
Crypto investors will surely be familiar with the feeling of the morning awakening (joyful or worried) when they are drinking coffee to experience pleasant and unpleasant surprises when checking their portfolios and seeing big gains or losses.
Due to market volatility, cryptocurrency trading bots (also known as crypto bots or merchant bots) have become more and more popular among traders, allowing them to keep trading under control and because the bot never sleeps.In addition, a properly configured bot allows for faster execution of transactions and makes it more efficient than this process can be done manually.
The explosion in the popularity of crypto money has also led to the proliferation of trading sticks through free and open source platforms to pay-per-view. The explosion in the popularity of crypto money has also led to the proliferation of both bitcoin trading bots and general crypto trading software through free and open source platforms to pay ones. However, it is difficult to determine exactly which one is actually working and which one is using a waste of time.
This guide will look at exactly what crypto trading software and what cryptocurrency trading bots are, and then show the best bitcoin trading bot in addition to other crypto trade bots currently available and how well they work in bitcoin trading.
HOW CRYPTOCURRENCY TRADING BOTS
AND CRYPTO TRADING SOFTWARE WORK
A breakdown of how bitcoin trading bots and other crypto bots work!
Crypto trading bots have long been popular in traditional financial markets. The use of bitcoin trading bots or other crypto bots in these markets is extremely costly, so average investors may not have the opportunity to use it. For example, the use of a Bloomberg terminal often costs more than $10,000.
CRYPTO/BITCOIN TRADING BOT STRATEGIES
Although the crypto market is much less developed than other financial markets and had less time to incorporate algorithmic trading. Due to the digital nature of the market, technology is not at all slow to use the trading bot for investors.But what are the most popular strategies?
In the early stages of crypto trading, arbitrage was one of the most important profit-making trader strategies that are, buying assets in one market and selling them at a higher price to another.
Because the crypto stock exchanges were decentralized, this often meant a big difference between prices and resulted in profits. Although the stock market distribution has become much smaller today, this strategy is still in place and trading bots can help users gain profit.
Arbitrage can also be applied to futures contracts, taking into account the differences between transactions traded on different stock exchanges.
Different prices on each stock exchange can be created because the transaction costs on each stock market vary.
The reputation of the stock exchange itself matters, and how easy it is to transfer money.
Bots allow investors to use market making strategies. This provides continuous buying and selling prices for various digital currencies and derivatives contracts. The market making strategy is to determine the buy and sell limit.
As the price fluctuates, the trading bot automatically and permanently places limit orders, resulting in profit. While this may be profitable at certain times, intense competition around the strategy may result in losses, especially in low liquidity environments.
A crypto trade bot works in response to the market. It collects the data needed to execute trading based on the trading platform analysis. In the crypto market, the trading platform is only part of the story, given the frequent ups and downs that other sources may cause. They cannot be programmed for bots for analysis. In addition, as has already been said before, stock market distribution is now more balanced so the degree of arbitrage is much lower than in recent years.
Many bitcoin trading bots and other crypto trade bots use an exponential moving average (EMA) as a starting point for market analysis. The EMA follows market prices within a specified time period and can be set for activities that affect price changes, for example when it exceeds a given threshold.
By programming robots, merchants can define their own thresholds, which also corresponds to their risk-taking framework. The disadvantage of EMA, based on past experience, is that it is not an indicator of future performance, especially in the crypto market, where volatility is widespread.
The question is that the crypto trading software or trade bots are functioning or not, the answer is, working, but not necessarily for everyone. The use of bots offers various advantages, including continuous contact with the market, and total exclusion of emotions during trading. At the same time, a bad strategy, or a strategy applied by another person, can lead a bot to automate substantially weak market trading decisions.
BEST CRYPTO TRADE BOTS
Here are some of the most popular and publicly available bitcoin & cryptocurrency trading bots.
Exuodia is new to the Crypto Trading Bot scene. With built-in signals, Exuodia earns daily passive income with its trades. Since Exuodia is 100% cloud-based, once you set up your bot, Exuodia trades even when your computer is turned off.
Exuodia comes with various features to help traders maximize their profits - like stop-loss, trailing stop-loss and even manual trading.
Currently, Exuodia is connected to Binance through their API, but plans are to connect all major exchanges in 2019. With the ease of use, anyone (regardless of their trading or technical experience) can create an account with Exuodia and start automatic trading in less than 2 minutes!
Unlike other Crypto Trading Softwares, there are no additional signal purchases required with Exuodia - everything is included and Done For You. All you need to do is connect to your exchange and turn it on!
For this reason, Exuodia is the best bitcoin and cryptocurrency trading bot available
Click here to visit Exuodia.com and start your 7 Day Free trial now!
3Commas is compatible with many stock exchanges, including Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi and Yobit. The trading bot works uninterruptedly and can be used from any device because it is a web service. This allows the user to monitor the trading interface either on a smartphone or on a laptop.
The bot lets you set stop loss and take profit and allows the user to copy the activity of the successful merchants.
Another interesting feature of 3Commas is the portfolio function of the ETF-Like crypt, which allows you to create, analyze and backtest your portfolio and choose among the best performers.
CryptoTrader is a cloud-based trading bot that does not need to be installed on our device and provides users with fully automated solutions. On the platform, you can buy preferred trading strategies or even sell a user-developed strategy.
CryptoTrader supports most major stock exchanges, both in backtesting and live trading. With the backtesting tool, users can examine how strategies work in a variety of market conditions. They offer five different options for subscription and can only be paid for with bitcoin, and the prices are between 0.006 BTC and 0.087 BTC on a monthly basis.
Packages differ in many respects, including the number of bots belonging to the user and the maximum amount of capital. While creating a trading stick, the coding knowledge is advantageous, but not necessary, as there are free and paid strategies that can be used by a user who does not have any coding experience.
CryptoTrader also provides a wide range of interoperability features, including email and SMS notifications that inform customers about important market events or trends.
Also, a cloud-based bot that is, nonstop works and does not need to be downloaded to a device. The system allows trading through the use of technical indicators, or you can subscribe to a function that sends buy signals. On the platform side, they are the first and only automated crypto trading bot that integrates professional external signals.
With the help of the bot, the advantages of the bull market can be exploited and have full technical analysis features from Stoch, RSI, Bollinger Bands and MACD. Cryptohopper's control interface is modern, where everything can be configured and monitored, as well as pre-created templates for the Binance, Bittrex, Poloniex, GDAX, and Kraken stock exchanges.
GunBot is a well-known trading bot that employs unique strategies that can be fully customized to fit the user's trading style. GunBot works on the following switches: Bittrex, Binance, Poloniex, BitFinex, Cex.io, GDAX, Kraken and Cryptopia. The user can run the bot on his own computer or add a crypto money pair on a VPS and manually select a strategy and set it up.
BTCbot is one of the early bitcoin trading bot of innovations.Pay service, prices range from $ 149 to $ 498, can be downloaded, but can also be used on cloud-based servers.
Based on user feedback, the platform is easy to use and works efficiently, but the profits are quite low, so it is worth using larger amounts and it is recommended to spend more time understanding the bot's operation.
The developers themselves note that their product is not capable of making perfect predictions about the crypto money market, so users should be prepared to occur a series of losses and profits as well. However, in the 60-day money back package, BTCbot allows users to try their trading bots without having to worry about the financial expense.
Open Source Capture Bot and Backtesting Platform that supports 18 different bitcoin switches. Gekko is a completely free and relatively simple trading application that includes interface and core strategies from the beginning, making it more convenient for the investor to use the stick. Gekko contains a number of plugins that constantly update the platform regardless of the level of connectivity.
Non-high frequency trading bots (some trading, depending on the configuration) and the user can hardly make use of arbitrage, but the list of supported stock exchanges and basic strategies can be a good starting point for those interested.
Like Gekkohos, Zenbot is an open source trading bot for bitcoin traders. You can download from GitHub's page and it's open source, you can change the code as needed.It provides high-frequency trading and supports other crypt funds besides bitcoin.However, there were quite a lot of question marks around Zenbot since there was no update for a few months.
This means that no stock exchanges have been added to the platform for nearly a year, which may mean that they have less access to information than their competitors.
The developer has released an update on GitHub that says it is developing a brand new trading bot what called Bot18. He explained that Zenbot would continue, but he would get out of the platform and not work on the upgrade anymore. About the details of Bot18, the developer published an article in Medium and talks about the history of Zenbot, as well as the problems that led to the exit of the project.
The Haasbot platform created by Haasonline in 2014 can also be traded with bitcoins and sub-funds. Although Haasbot is the most complete of the currently available bots, so the user has to spend a minimal amount of money on running it, it's not free, costs 0.12 BTC-0.32 BTC for a 3-month period. At such prices, it is clear that whoever wants to use should know what to expect from trading on the platform and how committed it is to do that.