9 Best Crypto Trading Bots for 2022

diligently checking the crypto markets on a daily—or possibly hourly—basis : it ’ s an epinephrine rush, but is it the most efficient way to trade ? If efficiency is your goal, algorithmic cryptocurrency trading bots can help .

What are crypto trading bots?

Cryptocurrency trade bots are calculator programs that create and submit buy and sell orders to exchanges based on the rules of a pre-defined trading scheme. For case, a identical simple trading bot might be programmed to sell Bitcoin when its price reached a certain threshold. In curtly, crypto trade bots enable trade based on data and trends—not on emotional momentum. ultimately, this normally grows their profits, minimizes their risks, and limits their losses across exchanges. furthermore, bots can produce passive income 24 hours a day. Whether you ’ ra quiescence, bicycle, giving a presentation, whatever : you could besides be earning from automated trades. automated trading is supported by a growing act of platforms, but we ’ ve done the research and presented our favorites below, along with some virtual context and advice about making them work for you.

Common crypto bot trading strategies

Arbitrage bots

Arbitrage botArbitrage bot source : Cryptohopper A crypto arbitrage bot is a calculator platform that examines and compares mint prices across exchanges in order to make automatize trades that take advantage of monetary value discrepancies. For model a bitcoin arbitrage bot might identify that Bitcoin is trading for $ 200 more per token on Kraken than it is on bitFlyer, leading the bot to buy BTC on bitFlyer and cursorily sell it on Kraken in decree to make a small profit .

Grid bots

Grid bot strategyGrid bot strategy image source : Hackernoon

A grid bot is simpleton and good for beginners. You simply set multiple “ grids ” of amphetamine and lower cost limits for a certain cryptocurrency. The bot then makes a serial of exchangeable trades in order to incrementally accumulate profit. Let ’ s say you had the take after parameters for comprehensive examination :

  • Lower limit : $ 100
  • upper berth limit : $ 200
  • grid quantity : 10

If the price of COMP is at $ 150 when you program the bot, you will have 4 open orders for sell and 5 overt orders for buy. If the price increases to $ 16, the bot will mechanically place two copulate orders : sell at $ 160 and buy at $ 150. The $ 10 net income is added to your balance wheel .

Sandwich bots

Sandwich bots detect when a trader is placing a command on a token. They then place a higher offer on the same token. The bot is betting that the trader will hush want the token, so if it wins the nominal, it will immediately try to sell it to the original bidder at a higher price than the coin would initially have sold for.

Best all-around: Cryptohopper

Cryptohopper has a set of might : it works with 100+ tokens on 15 exchanges and has hundreds of thousands of users. As such, its packages—which range from $ 0– $ 99/mo— offer something for everyone. Beginners will find a wealth of educational resources, templates, and signals, while experts can design and backtest their own strategies. Hosted in the cloud for quick deployment, Cryptohopper ’ s trench toolbox and user-friendly interface make it a good all-around choice .

  • Exchanges : HitBTC, Okex, Bitpanda Pro, Bitvavo, Binance, Binance US, Coinbase Pro, Bittrex, Poloniex, Bitfinex, Huobi, KuCoin, Kraken, Crypto.com, Exmo, Bitvavo
  • Fees : loose to $ 99/mo
  • Programming terminology : User interface, no program required

Best for coders: Gunbot

Gunbot is n’t particularly slowly to use, but it ‘s full of features—if you ‘re willing to get over the learn wind. This cock ‘s monetary value reflects that it ‘s a tool for advanced traders, particularly those who are comfortable coding their own scripts. It works differently than most bots : it ‘s ‘ a erstwhile buy of a software download. This means that it ‘s security depends on you, and besides that you can resell the license if you ‘re not satisfied or stop using it. Best for coders : Gunbot has an active residential district for corroborate and pre-built scripts .

  • Exchanges : Binance, Binance Futures, Bybit, Bitmex, Coinbase Pro, Kraken, Okex, FTX, others though CCXT library
  • Fees : Lifetime licenses range from $ 99 or .002 BTC to .0175 BTC
  • Programming Languages : Javascript or drug user interface

Best for Python: Trality

What sets Trality apart is its knock-down Python API, which lets traders use this familiar speech and libraries to develop bots. Its in-browser cryptography features include intelligent autocomplete and backtesting, debug, and soon, rebalancing. This bot has been slower than some others to introduce raw features and exchanges, but its easy-to-use Python integration and detail software documentation make building complex bot building more transparent .

  • Exchanges : Binance, Coinbase Pro, Kraken, Bitpanda
  • Fees : free to 60 EUR/mo
  • Programming Languages : python

Best bot for advanced traders: 3Commas

3Commas offers sophisticate deal options in a user-friendly, surprisingly low-cost box, making it a good choice for independent traders looking to adopt more complicated strategies. For exercise, options trade is a slippery business, but 3Commas has a bare, highly-visual user interface that helps investors platform automated options strategies. As an add bonus, 3Commas ’ blog offers valuable insights, analytics, and guides for crypto traders .

  • Exchanges : Binance, FTX, Bybit, BitMEX, Deribit, Bittrex, Binance US, Bitfinex, Bitstamp, Coinbase Pro, Gate.io, Huobi, Kraken, KuCoin, Okex, Poloniex, Gemini
  • Fees : dislodge to $ 99/mo ( halved if purchased per annum )
  • Programming linguistic process : User interface, no scheduling required

Best bot for beginning traders: CryptoHero

With very low-cost pricing and a identical childlike user interface, CryptoHero is ideal for traders who are new to crypto bots. It ’ mho besides optimized for AI, another fringe benefit for some time-pressed or novitiate traders .

  • Exchanges : Binance, Bittrex, Huobi, Okex, Coinbase Pro, FTX, Kraken, KuCoin, Bitfinex, Indodax, Tokocrypto, Mandala, Crypto.com
  • Fees : exempt to $ 29.99/mo
  • Programming language : User interface, no programming required

Best exchange-built bots: Pionex

Pionex is a cryptocurrency exchange that gives users access to 12 rid trade bots, including grid bots and arbitrage bots. The $ 0 price tag is appealing, but so is the fact that because the bots are built into the exchange, the user doesn ’ t need to wrestle with any API integrations. Be mindful, however ; to fund your report with USD, you will need to download Pionex Lite, a second gear app .

  • Exchanges : Pionex ( arbitrage is on spot-futures )
  • Fees : No monthly price, but .05 % trade fee on each grid trade transaction and Pionex takes 10 % of arbitrage profits, although holding BUB can reduce fees
  • Programming language : User interface, no program required

Best free trading bot: Ichibot

Ichibot is more of a joyride than a bot, as it is run completely through the command channel interface and won ’ t make any trade decisions on its own. It ’ s a trade strategy design platform for those who prefer code over clicks. Users can design complicate deal strategies for Binance and FTX and execute them in real-time to take advantage of market fluctuations .

  • Exchanges : Binance, FTX, Bybit, GlobeDX
  • Fees : none
  • Programming terminology : Used as a CLI ( Command Line Interface ), but written in typescript

Best social trading bot: Shrimpy

Shrimpy is focused on long-run portfolio management. In addition to enabling automatic trade, portfolio rebalancing, and cross exchange performance monitor, Shrimpy besides connects users with a unique social feature. Traders can copy trade the strategies of top users. Or, if their own trades are highly successful, they may find themselves on clear of Shrimpy ’ s “ leaderboard, ” giving them an opportunity to earn monthly income from posting. Shrimpy ’ s community, bombastic number of support exchanges, and easy-to-use interface have made it a premier automatic deal platform .

  • Exchanges : Bibox, Binance, Binance US, Bitfinex, Bitmart, Bitstamp, Bittrex, Bittrex Global, Cex, io, Coinbase Pro, FTX, FTX US, Gate.io, Gemini, HitBTC, Huobi Global, Kraken, KuCoin, Okex, Poloniex
  • Fees : $ 19 to $ 299 per calendar month
  • Programming linguistic process : User interface, no programming required

Best for long-term portfolio strategy: Stoic 

Stoic is a long-run bot from Cindicator that works like a hedge fund. Linked with a exploiter ’ second Binance bill, the bot allows users to establish a portfolio with some or all of the altcoins on Binance with a trade bulk over $ 10 million. then, it rebalances the portfolio ’ sulfur balances mechanically based on the forecasts of a network of 180,000 fiscal professionals .

How do you file taxes for crypto bot trading?

You ’ ve selected your bot, programmed its strategies, and watched its results. now, how do you file taxes on these transactions ? Put just, crypto bots deal on exchanges on your behalf. sol, when it comes time to report cryptocurrency on your taxes, you just need to import your trades from these exchanges into cryptocurrency tax software. It ’ s the same process you ’ d use for trades you make yourself. When choosing a bot strategy, it ’ randomness all-important to be aware of how many trades the bot will be making. high frequency trading bots making dozens or hundreds of trades a day can result in tens—or even hundreds—of thousands of transactions that must be reported. This increases the complexity of your tax calculations, even if you ‘re using a crypto tax calculator. however, if you determine high frequency passive crypto trade is the right strategy for you, TokenTax can handle such trade with the allow crypto tax plan .

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