Due to cryptocurrencies’ similarity to stocks and shares as investment opportunities, it is no surprise that individuals and companies have been working hard to automate the trading process of cryptocurrencies, in the same way as they do for stocks and shares. This has led to the increased popularity of cryptocurrency trading bots. These are automated programs that buy and sell various cryptocurrencies at the right time to maximize profit for the user. There are a number of effective programs for this, however, there are five cryptocurrency trading bots that are better than the rest.
NapBots
NapBots is a cryptocurrency and bitcoin trading bot that supports a wide number of cryptocurrency exchanges, including:-
Once you have selected the exchange that you wish to work on, you can select the pricing signals that you want the bot to operate on. NapBots claims to be the only provider that allows users to compound numerous pricing signals within the same operation. Signal frequencies can be selected at hourly, daily, or weekly intervals for operations. The bot allows for the trading of multiple different cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, EOS, Litecoin, XRP, and BNB.
The distinction this bot has is the simplicity, and unique approach it provides in comparison with other competitors. Through in-house created trading strategies, NapBots provides a fully automated trading technology system. Furthermore, it's quite easy to set up and install that even the non-experts can set up and run this bitcoin bot.
The bot operates a number of different pricing plans, with Freemium (Free), Silver (19 Euros Per Month), Gold (49 Euros Per Month), Platinum (99 Euros Per Month). The more expensive plans encompass more features and provide a more useful experience for the user. The free plan operates as a simulator so that users can try the bot out and understand the user experience.
3Commas
3Commas offers trading bots that can be linked with your mobile device through their app, to ensure that you are always kept up to date on what is occurring in your portfolio. There are two bots, the “simple bot” which can run one trading pair at a time and the composite bot which can operate multiple trading pairs at one time. The bot contains two key algorithms.
Short Algorithm: With this algorithm, the bot will sell a coin according to your input settings and will then implement a buy order when the item reaches a lower set value.
Long Algorithm: With this algorithm, the bot will buy a coin according to your input settings and will then sell it once it reaches a higher set price.
Additionally, 3Commas bot has the ability to view the effectiveness of other bot settings and will allow the user to copy the actions of these bots with their own. The main principles of 3Commas platform are that the interface is easy to use, the tools are sophisticated enough to allow for easy trading, and that the business maintains a transparent service.
To gain access to the trading bots offered by 3Commas, you will have to pay a fee. The Advanced program is priced at $49 per month or $294 per year and provides access to the simple bot whereas the Pro plan which costs $99 per month or $594 per year provides the user with access to the composite bot and the simple bot.
HaasOnline
HaasOnline offers a bot service for its users that is linkable with a large number of cryptocurrency exchanges; including but not limited to the following:-
- Binance
- BITFINEX
- BitMex
- Bitstamp
- BitPanda Pro
- Bittrex
- Cex.io
- Coinbase Pro
The HaasOnline platform offers 16 different types of bots that can fulfill various different functionalities, which saves the time of user’s which would be spent on configuring their bot pre-sets. Additionally, the trading activity reports can be sent to users through mobile using Telegram or Discord. Furthermore, these bots are capable of being backtested with historic data to ensure the best most effective purchase and sale parameters are met. There is also the option to use customizable bots, which will allow developers to customize bots with additional functionalities. These can be coded in HassScript or C#.
The platform gives users the ability to access different bots, depending on the subscription that is purchased, with each plan being offered in 3 months, 6 months, and 12-month subscriptions.
The Beginner plan which is valued at 0.028 Bitcoin for three months, 0.05 Bitcoin for six months, and 0.073 Bitcoin for 12 months gives users access to 8 of the 16 bots. The Simple plan gives access to an additional two bots and costs 0.049 Bitcoin for 3 months, 0.088 Bitcoin for six months, and 0.127 Bitcoin for 12 months. Finally, the Advanced plan costs 0.08 Bitcoin for three months, 0.144 Bitcoin for six months, and 0.208 Bitcoin for 12 months and provides access to the last six bots.
Zignaly
Zignaly is a cryptocurrency trading bot that can sync with 46 signal providers across the cryptocurrency market and allows its users to trade automatically around the clock. The bot can be used automatically by accepting the bot’s sell signals or using your own presets to close your positions.
The cryptocurrency bots can work with any coins and can take multiple targets from signals. In addition, the bot implements a trailing stop loss and the bot can be configured to operate on signals from TradingView.
Zignaly’s platform is currently free to use, with the option to pay a monthly membership fee. In return for paying for this optional membership, the company will give the customer a 1.5 x cashback of the amount they paid as figure discounts on exchange fees.
Blackbird Bitcoin Arbitrage
Blackbird Bitcoin Arbitrage’s platform is coded in C++ that conducts long and short arbitrage between different Bitcoin exchanges. This involves the process of purchasing Bitcoin at one exchange and then selling them at another exchange where it is valued more highly.
This platform works within various market conditions and is therefore not affected by price volatility. The strategy would not be affected, even in the event of a large scale price crash. The strategy will work simultaneously on different exchanges, making it so that there are no issues with latency.
The platform is open-source and is therefore free to use; although it will require some expertise in coding for it to be any use to an individual. Additionally the platform is limited specifically to Bitcoin trading.
