5 Best Crypto Trading Bots of 2023 In Depth Review
Want to jump straight to the answer? The best cryptocurrency brokers for traders are Coinbase and Gemini
The #1 Forex Trading Course is Asia Forex Mentor
Automated trading strategies are very popular in volatile markets. Crypto is not any different. As you well know, price action in the crypto world can be very volatile and as such, finding the right opportunity to enter and exit a trade is always hard. But trading bots are here to solve this issue.
As opposed to manual trading where professional traders have to watch markets like hawks, an automated trading platform simply executes trades when certain conditions are met. This is one of the easiest ways to trade volatile assets like crypto and over the last few years, the use of these bots has become central in any crypto trading strategy.
Nonetheless, there are a lot of bots, each with unique features and something to offer. We researched various solutions and came up with a list of the top 5 here below. Check it out!
Table of Contents
Best Crypto Trading Bots
5 Best Crypto Trading Bots
#1. Top Overall Online Broker Choice: Coinrule
CoinRule is one of the leading automated trading bots made especially for Binance. The tool can however be connected to other major exchanges and comes with professionally created algorithms designed to execute profitable trades all day long.
The bot offers up to 150 different rules that you can use to develop a cryptocurrency trading strategy that works for you. The tool also allows you to bring in your technical indicators and feed them into the AI for a more customized trading style.
Coinrule is free to start as well and is rated the most reliable automated trading solution out there. You also get superior trading technology, fast trade execution, reliable customer support, and easy and quick account setup.
How does it work?
Coinrule is an automated trading terminal that has its own in-built trading rules. It can also be customized to suit your strategy. So, to take advantage of the bot, you will need to sign up for an account. Select the subscription method you want and pay. Once you have full access to the bot, you can now start fine-tuning your automated trading strategies.
As noted above, Coinrule has over 150 inbuilt rules that can help you maximize profits. For example, in case you want to base your trading on a trading price trend in a given asset, you can set the bot to follow and execute trades based on that. Besides, in case you don’t see something you like in the inbuilt trading rules, Coinrule will allow you to set up your trading rules and customize the bot through your own technical analysis.
This gives you more power to control how you trade. Nonetheless, once you are happy with the trading approach, you can now link the bot to your exchange account and get started. Coinrule is compatible with all the major exchanges out there.
Pros
- Offers up to 150 inbuilt trading rules to help you customize the bot
- You can add your own trading rules as well for more personalization
- Superior trading technology with fast execution and reliability
- Dedicated customer support
- Compatible with some of the leading exchanges in the world
Cons
- Can be a bit intimidating for folks to use
- Requires a bit of time to learn how to set up trades
Price
CoinRule offers two pricing options. The first one is actually free but it’s a bit limited. You only get access to just 2 live trading rules and only 7 template strategies. You can also only connect the bot to a single exchange and trade volumes are capped at $3k a month.
The pro version on the other hand gives you access to the full bot, including 40 template strategies and monthly trade volumes of up to $300, 000. You will however pay $29.99 a month for this. The subscription is billed yearly at $359 per year.
#2. Best for High-Volume Traders: Pionex
Pionex is the best trading bot for people who trade in high volumes. It literally has not limits when it comes to automated crypto trading. The platform offers 12 inbuilt trading bots, each designed to meet the needs of different users. Whether you want a grid trading bot, an arbitrage trading bot, or anything else to suit your trading strategies, Pionex will deliver.
Also, the crypto bots offered here are very beginner-friendly. They are so easy to set up and you don’t need any coding experience or background to use them. You also get fast and efficient trade execution, intuitive and interactive user interfaces, and regular system upgrades to ensure you get the best out of your automated crypto trading plan.
How does it work?
Getting started with Pionex is actually quite simple. The trading bot offers a no-fuss account opening option. In essence, you don’t need to key in too many details to get approved. Once your account is live, you will be required to link with an exchange or crypto wallet. Don’t worry about security. Pionex is one of the most secure crypto trading bots out there.
The final step is to select the trading bots you would like to use. As noted above, there is a choice of 12 here so there should enough options for everyone. Nonetheless, if you are not sure which crypto trading bot is the most ideal for you, take some time and try out different options before you settle for one or two.
Pros
- The best crypto trading bot for high-volume cryptocurrency traders out there.
- Comes with up to 12 different cryptocurrency trading bots to cater to all your needs
- Offers state of the art security for your data and crypto assets
- Excellent customer reviews among previous users
Cons
- You need some background in crypto trading before using this crypto bot
- The educational materials provided to help you start are not adequate
Price
Pionex does not have a standard fee for its service. How much you pay is largely determined by the type of assets you want to buy and the volume. Nonetheless, since the platform also doubles up as a decentralized crypto exchange, you will be charged a taker and maker fee every time the trading bot executes a transaction. Both the Maker and taker fees are capped at 0.05% of the total transaction. There are also fixed withdrawal fees for various crypto assets.
#3. Best for All-Around: Cryptohopper
For beginners out there looking for a simple and efficient crypto trading bot, then you must try Cryptohopper. The platform is designed to bring the superior-tech execution of advanced bitcoin trading bots while making it so easy for average traders to use the platform.
The crypto bot is also compatible with a huge variety of exchanges. You also get unlimited free and paid signals for your trades and up to 30 indicators to help you set up your algorithmic trading strategies. There is also a good variety of trading tools to help you manage and track your crypto assets on the go.
How does it work?
As with all the other crypto trading bots on our list, you must set up an account before you start trading. The good news is that Cryptohopper just makes it so easy for you to do this. These crypto bots simply offer an account setup wizard where you can follow a series of simple steps to open and set up the crypto trading account.
After that, you will need to access the signals marketplace within the account. Although the crypto trading bots profitable approaches are sometimes coded within the system, you may need additional signals and indicators to enhance the success of your trade. The Cryptohopper bot gives you a semi-automated approach that ensures you still have a bit of control over your trading.
Pros
- The best crypto trading bot for beginners
- Its semi-automated, giving you more control over your trading strategy
- You get access to a marketplace of trading signals to help you make good investment decisions
- Easy to set up an account and start trading
Cons
- The fact that the crypto trading bot is not fully automated can be a turn off for some people
- The pricing is a bit high compared to other cryptocurrency trading bots
Price
Cryptohopper has two pricing plans for users. The first one is the Explorer package that goes for $19 a month. This simply allows you to open a maximum of 80 positions and trade only 15 currencies with the crypto trading bot.
But in case you want more from the service, you can choose the more advanced Pioneer package. It goes for $49 a month but you get to open up to 200 positions and trade over 50 currencies with it.
