Review of the 8 Best Free and Paid Cryptocurrency Trading & Investment Bots for 2022

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crypto trading

Before investing in any crypto trading bot, we strongly recommend that you do your own research and only invest what you can afford to lose. In the end, crypto trading bots can be a great trading tool, as long as you learn to use it correctly, and you don’t get greedy with it!

Searching for the top cryptocurrency trading bots? Look nowhere else! The 10 most sophisticated and successful trading tools currently on the market will be covered in this article. It has been demonstrated that these bots are effective at assisting traders in placing more profitable deals.

In order to help you select the bot that best meets your needs, we will also go over the characteristics that each bot offers. What are you still holding out for? Find out which bot is best for you by starting to read right away!

Choose the Best Crypto Trading Bot for Your Needs

CoinRule is a well-known and reliable cryptocurrency trading bot that provides a variety of features and functions. We consider it one of our top suggestions for beginning traders because of how simple it is to use. In order to help you decide whether or not the bot is suited for you, CoinRule also provides a free trial.

CoinRule is one of the greatest bitcoin trading bots currently available online because of how simple it is to operate. Even the most unskilled users will find the bot’s UI to be incredibly user-friendly and simple to use.

Price: Free / $29 / $59 / $449 per month.

Supported crypto exchanges: Coinbase, Binance, Bitstamp, Kraken, HitBTC and more.

Pros

  • User-friendly interface: As was already said, CoinRule features a very user-friendly interface that even beginners will find simple to use.
  • Free account option: This bot also has the advantage of providing a free account so you can test it out before deciding to purchase it.
  • Trade automatically with CoinRule, which works with any trading platform and lets you fully automate your trading approach. Additionally, CoinRule has a wealth of resources that can help you develop automatic trading plans and advance your trading abilities.

Cons

Lack of mobile app: This bot’s absence of a mobile app is a drawback. However, the website is mobile-friendly, so you may use your phone or tablet to access it.

BitsGap — Runner Up

In terms of a variety of features and tools, BitsGap is the best trading bot. For those seeking a complete answer to their cryptocurrency trading demands, this bot is ideal.

The fact that BitsGap provides a wide range of features, including as leverage trading, stop-loss orders, and more, is what makes it so well-liked. Additionally, you can use this bot on any significant bitcoin exchanges, which is highly practical. In addition, BitsGap provides a smart trading terminal that enables you to do transactions within the app.

Price: Free trial / $29 / $69 / $149

Supported crypto exchanges: Binance, Coinbase, Bitfinex, HitBTC, KuCoin, Exmo, Kraken, CEX.io, Gemini, Bitstamp and more.

Pros

  • Numerous features: BitsGap provides a number of features that both novice and seasoned cryptocurrency traders can use.
  • Can be used on several exchanges: This bot’s ability to be utilized on different exchanges is yet another fantastic feature. For individuals who want to utilize the bot on many exchanges, this is highly practical.
  • Extremely safe: BitsGap is a very safe bot, which is crucial for people wishing to trade bitcoins.

Cons

  • Greater cost: Although BitsGap does provide a variety of plans, the costs can occasionally exceed those of some of the other solutions on this list. However, the platform has the ratings to support its cost.

CryptoHopper is undoubtedly one of the most well-liked choices for bitcoin trading bots. The simplicity of usage, abundance of functionality, and excellent customer service make this bot a favorite among users.

Because it is so user-friendly, this trading bot is ideal for folks who are brand-new to the world of bitcoin trading. Additionally, CryptoHopper has a wealth of features that can be tailored to meet your own requirements. In addition, you can use its marketplace of both free and paid trading signals to create a trading strategy for cryptocurrencies.

Price: Free / $19 / $49 / $99

Supported crypto trading exchanges: Binance, Coinbase, Kraken, Bitfinex and more.

Pros

  • Ease of use: One of the main reasons why CryptoHopper is so popular is because it is very easy to use. The interface is very user-friendly and even novice traders will be able to figure out how to use this bot without any problems.
  • Wide range of features: As mentioned before, CryptoHopper offers a wide variety of features that can be customized to suit your needs. Arbitrage trading, hedgind strategies and more.
  • Great customer support: Another great thing about CryptoHopper is that it offers excellent customer support. If you ever have any problems or questions, you can be sure that someone will be there to help you out.
  • 7-day free trial allows you to test all the features of CryptoHopper before buying it.
  • Free and paid signals shared by active trading community.

Cons

  • The bot can be a bit pricey: One of the only downsides of CryptoHopper is that it can be a bit pricey. However, considering all of the features and tools that it offers, the price is definitely worth it. It is also worth noting that they offer a free plan.

You should look into 3Commas’ products if you’re looking for a crypto trading bot platform with lots of features. Even the most seasoned traders will likely find this trading bot to be appealing because it offers a variety of game-changing capabilities.

This bot’s ability to let you create both long-term and short-term trading strategies is one of its strongest features. Therefore, this bot may meet your needs whether you want to swiftly cash out or stay onto your investments for the long term. Additionally, there are many other fantastic characteristics that traders adore to see in bots, such as portfolio tracking and automated trading techniques.

Price: Free / $29 / $49 / $99

Supported crypto exchanges: Binance, BitMEX, Bitfinex, Bitstamp, Coinbase, CEX.io, Kraken, KuCoin and more.

Pros

  • Allows you to set up long and short-term strategies: This bot allows you to set up both long and short-term trading strategies, so you can choose how you want to approach the market.
  • Portfolio tracking: Another great feature of this bot is that it offers portfolio tracking, so you can always stay on top of your investments.
  • Automated trading strategy: This bot also offers automated trades, which is a great time saver for busy traders.

Cons

If you want a simple platform, Shrimpy is a wonderful cryptocurrency bot. This bot provides a wide range of capabilities, such as automatic trades, portfolio tracking, and more.

Shrimpy’s excellent usability is one of its best features. You should have no trouble using this cryptocurrency trading bot even if you’ve never used one before. Additionally, Shrimpy provides a free trial so that you may test out the bot before deciding if it is appropriate for you.

Price: $19 / $79 / $299

Supported crypto exchanges: Binance, Bitfinex, Coinbase, Bitstamp, Bittrex, Kraken, CuCoin and more.

Pros

  • Large variety of features: This bot offers a wide range of features, including portfolio management, automated trades, and more.
  • Free trial available: Another great thing about this bot is that it offers a free trial so that you can try out the bot before you decide whether or not it is right for you.
  • Amazing reviews: This bot has received some amazing reviews from its users, which is always a good sign.

Cons

  • For the purpose of finding a con to mention, the only thing we could really find is that this bot does not offer a free option. However, given the wealth of features it offers, the price tag is definitely worth it.

HaasOnline is the last one. The fact that this bitcoin trading bot is mainly oriented toward seasoned traders sets it apart from the others on this list. Although inexperienced cryptocurrency traders might manage with this bot, it obviously requires a little more expertise to use efficiently.

Numerous capabilities, such as automated crypto trading, backtesting, and others, are available with this bot. Additionally, HaasOnline provides top-notch customer service so you can obtain assistance when you need it.

Price: 0.005 / 0.007 / 0.012 BTC

Supported crypto exchanges: Coinbase, Binance, Bitfinex, BitMEX, Bitstamp, Bittrex, Gemini, HitBTC, KuCoin.

Pros

  • Offers a wide range of features: This bot offers a wide range of features, including automated trading, backtesting, and more.
  • Excellent customer support: Another great thing about this bot is that it offers excellent customer support so that you can get help when you need it.

Cons

  • More geared towards advanced traders: Although the platform makes an effort to be user-friendly, it is definitely more geared towards experienced traders. So, if you are a newbie, this might not be the bot for you. Instead, consider trying out one of the many other great bots on this list!

Without mentioning WunderTrading, this list would be lacking in content. Since it originally debuted several years ago, this bot has wowed people with its incredible performance and abilities.

This bot includes automated trades, portfolio tracking, and anything else you could ask for in a cryptocurrency trading bot. In addition, the WunderTrading team is always developing new functions and enhancements to keep the bot up to date.

Price: Free / $9.95 / $24.95 / $44.95

Supported crypto exchanges: Binance, FTX, Coinbase, BitMEX, Bybit, Kraken, KuCoin, HitBTC and more.

Pros

  • Constantly improving: The team behind WunderTrading is always working on new features and improvements so that the bot can stay ahead of the curve.
  • Offers everything you could want: This bot offers everything that you could want in a crypto trading bot, including automated trades, portfolio tracking, and more.

Cons

  • Not as popular as other bots on this list: Although this bot has received some great reviews, it is not as popular as some of the other options on this list. This could be due to the fact that it is a newer option. Consequently, there is a risk that the platform could shut down in the future.

Trality is a new name among well-known crypto trading bots, but it has recently experienced significant growth in popularity. The majority of the functions found in standard cryptocurrency trading bots, such as automatic trading, portfolio tracking, and others, are available in this bot.

Trality, however, was included on our list of the top trading bots for a good reason. It stands out from the competition because to a few special characteristics it provides. Before risking any of your real money, for instance, this bot enables you to practice your ideas on paper. To help you understand how to utilize the platform efficiently, Trality also provides a variety of lessons and support.

Price: Free / €95 / €383 / €575

Supported crypto exchanges: Binance, Kraken, Coinbase / BitPanda / FTX and more.

Pros

  • Offers paper trading: This bot allows you to test your trading strategies with paper trading before you risk any of your real money.
  • Wide range of tutorials and support: Another great thing about this bot is that it offers a wide range of tutorials and support so that you can learn how to use the platform effectively.

Cons

  • Not as many features: Although this bot offers most of your generic crypto trading bot features, it doesn’t have as many unique features as some of the other options on this list. Though, for basic trading, Trality offers more than enough.

Types of Cryptocurrency Trading Bots

After discussing some of the top cryptocurrency trading bots for 2022, let’s examine the various bot categories that are available.

Arbitrage Bots

The purpose of arbitrage bots is to profit on price differences between exchanges. The arbitrage bot will buy Bitcoin on the first exchange and then sell it right away on the second exchange for a profit, for instance, if Bitcoin is selling for $11,000 on one platform and $11,200 on another.

Market Making Bots

Market making bots are created to continuously buy and sell assets, hence supplying liquidity to exchanges. By doing this, they contribute to price stability and facilitate asset acquisition and disposal for cryptocurrency traders.

Scalp Bots

Scalp bots are created to carry out numerous little trades in an effort to profit from minute price changes. These bots require very minimal downtime because they may execute numerous deals each day, and occasionally even each hour.

Coin Lending Bots

The purpose of coin lending bots is to lend your assets to other traders so that you may make interest on the loans. This is a fantastic way to profit passively from your cryptocurrency investments. These bots are used by traders on exchanges that support margin trading to lend out their assets.

Leverage Trading Bots

By enabling traders to trade with leverage, leverage bots are intended to help them gain more for their money. In essence, leverage is a loan that the trader obtains from the exchange to enable them to execute transactions with funds that are greater than those in their account.

These are just a few of the several kinds of cryptocurrency trading bots that will be available in 2022. Before determining which type is best for you, make sure to conduct your homework since each has perks and downsides of its own.

Pros and Cons of Using Trading Bots

Although we have discussed the benefits and drawbacks of utilizing particular trading bots, it is also crucial to weigh the advantages and disadvantages of using trading bots generally.

Pros

  • Bots can help you to make more money: One of the biggest advantages of using trading bots is that they can help you to make more money. This is because bots can execute trades much faster than humans and they can also access information and make decisions based on that information much more quickly.
  • Bots can take some of the emotion out of trading: Another big advantage of using trading bots is that they can take some of the emotion out of trading. This is because bots don’t get emotional about their trades, which means that they are less likely to make mistakes.

Cons

  • Bots can be expensive: One downside of using bots is that they can be quite expensive. This is because you need to pay for the software and also for the hosting fees.
  • Bots can be risky: Another downside of using bots is that they can be quite risky. This is because if a bot makes a mistake, it can cost you a lot of money.

Crypto Trading Bots FAQs

Do Crypto Bots Work?

Being distrustful of something you don’t fully comprehend is common. Therefore, the answer to the question “do crypto trading bots work?” is yes! It’s crucial to keep in mind that no bot is faultless and that there is always a chance of losing money when trading.

But a lot of the most knowledgeable and prosperous traders employ automated trading bots to carry out their trades. This is due to the fact that they offer several benefits, including the ability to earn more money and remove part of the emotion from trading in addition to all the other benefits we previously listed.

However, you may rest confident knowing that given the volatility of the cryptocurrency market, crypto trading bots do have actual potential and work incredibly effectively for the proper individuals.

Are Cryptocurrency Trading Bots Profitable?

Given all the different factors at play, this is a challenging topic to answer. For instance, the market circumstances, the bot’s settings, and the user’s trading approach will all affect how profitable a bot is.

But generally speaking, using crypto trading bots can lead to financial gain. It’s crucial to keep in mind that there is always a chance of losing money, so you should never invest more than you can afford to lose.

Additionally, you should consider the fact that using these bots often has a cost, which you should take into account when calculating your profitability. Do your homework to make sure you can at least cover the cost of the bot and, ideally, turn a profit on top of that.

Are Cryptocurrency Trading Bots Legal?

Yes, trading bots for cryptocurrencies are permitted. However, it’s crucial to keep in mind that using these bots carries some hazards. For instance, you can be taking on more danger than you know if you employ a bot to trade on an unregulated exchange.

It’s also vital to keep in mind that certain nations have tougher rules regarding bitcoin trading than others. Therefore, before utilizing a bot anywhere in the world, be sure to complete your study.

China, Korea, and Japan are a few nations that forbid the use of cryptocurrency trading bots or cryptocurrency trading in general.

However, in most nations throughout the world, crypto trading bots are acceptable and can be utilized without incident.

Should I Use a Crypto Trading Bot?

Only you are qualified to respond to this query. However, by outlining some advantages and disadvantages of employing trading bots, we hope to have helped you make a decision.

Ultimately, it’s critical to keep in mind that trading always has a certain amount of risk, regardless of whether you use a bot or not. To avoid losing money, just invest what you can afford to lose after doing your homework.

However, for the most part, automated trading bots can give you a true competitive advantage and enable you to generate higher profits than you otherwise could through independent trading. If in doubt, speaking with a financial counselor is always a wonderful option to receive more specialized guidance.

How do Bots Make Money in Crypto Trading?

There are several different ways for bots to profit from cryptocurrency trading. For instance, some bots will deduct a portion of the revenue they bring in for you.

Some bots require a yearly or monthly subscription fee. Others will demand that you pay for hosting costs as well as the software itself.

Although the operations of each trading platform vary, you can typically obtain the pricing details on the provider’s website.

These trading bot platforms frequently operate without charging their members any upfront fees, or at least not significant down payments, because they have such a large user base. This is so that they can profit on the actual exchanges.

Every time you make a deal, for instance, they can receive a commission from the exchange. Or, they can be compensated according to the volume of traffic that passes through the platform.

In any event, it’s critical to keep in mind that there are expenses related to using these bots, and you should take those into account when determining your profitability.

How Much Can a Beginner Day Trader in Crypto Make?

Given all the different factors at play, this is yet another topic that is challenging to answer. For instance, the trader’s residence nation, access to funds, and willingness to invest time in trading are all factors.

However, in general, it is feasible for novice day traders in cryptocurrency to turn a respectable profit. To get there, though, will require some time and work.

Some new traders have been credited with earning more than $100 each day. It will take some time and effort to reach this level because this is not the usual.

Setting realistic goals is crucial when you’re just getting started, and you should anticipate making a meager profit at first. Your potential for profit can steadily expand as you acquire experience. Also keep in mind the distinction between cryptocurrency trading and gambling. Trading decisions ought to be based on solid analysis, not on emotion.

What Cryptocurrencies Can Bots Trade?

Generally speaking, bots can trade any cryptocurrency that the exchange you’re using supports. However, not all cryptocurrencies are supported by all exchanges. So, before utilizing a bot, make careful to check with your exchange.

Bitcoin, Ethereum, Litecoin, and Solana are some of the most traded cryptocurrencies on bots. However, there are other additional items that are frequently traded.

Bots normally do not limit the coins you may trade, though. Therefore, if there is a certain coin you are interested in trading, there is probably a bot that can do it.

What is the Minimum Deposit to Start Trading with a Bot?

Depending on the exchange and/or service you’re using, a minimum deposit may be needed to begin trading with a bot. For instance, some service providers might demand a $100 minimum deposit while others would not.

It’s critical to keep in mind that, despite the fact that trading bots can automate your transactions, they are still bound by the same laws and restrictions as manual trading. So, before beginning to trade with a bot, be sure you are aware of all the risks.

Final Thoughts

It can be difficult to choose the best crypto trading bot because there are so many different options available. However, utilizing the knowledge in this post, you ought to be able to choose an automated trading program that best suits your requirements.

We firmly advise that you conduct your own research and only invest money that you can afford to lose before purchasing any cryptocurrency trading bot. Crypto trading bots can ultimately be an excellent trading tool if you understand how to utilize them properly and don’t become overly greedy with them. Cheers to trading!

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