Automated trading lets you actively trade cryptocurrencies without constantly monitoring your computer. Automated trading uses algorithms to buy and sell your cryptocurrencies at certain times. Depending on the automated trading strategy you use, trades may be executed based on asset price, technical indicators, or the proportion of value in your portfolio (rebalancing).
If you don’t have the time to trade cryptocurrency and don’t want to buy and hold, automated cryptocurrency trading is a great option. There are several automated trading platforms available, and each has its own set of features and trading strategies.
What is Automated Crypto Trading?
Automated crypto trading platforms are automated software that trade cryptocurrency for you. To use an automated crypto trading platform, you need to make an online account with a trading bot and select a trading strategy to use. Once you’ve selected an automated trading bot, the program will buy and sell your cryptocurrency for you based on the parameters of the software.
Most automated crypto trading programs work as APIs. API trading bots work as an intermediary that trades for you on another exchange you connect. 3Commas is an API that you can use for automated trading on exchanges like Binance, Coinbase Pro, Bitmex and Kraken.
The newest and most secure form of automated crypto trading are automated trading bots that operate on the blockchain. Instead of using a website or API, tokenized crypto trading uses smart contracts on the blockchain. Smart contracts are code that perform financial functions autonomously –– this code is typically uploaded to Ethereum’s network, as it’s the leading cryptocurrency that supports smart contracts.
Best Automated Crypto Trading Platforms and Bots
There are many choices for automated trading platforms. These platforms operate very differently from each other, and each has its own benefits and drawbacks. The right trading bot for you depends on the type of cryptocurrency you want to trade, what exchange you already use and your risk tolerance.
Social crypto trading
Best Exchange Rates: WunderBit
Wunderbit strives to facilitate the real-world use of cryptocurrencies through a number of products and solutions. It offers a licensed, accredited and regulated financial institution that allows its clients to buy and sell Bitcoin safely and securely.
Wunderbit currently offers a bitcoin and other cryptocurrency exchange service, social trading platform, bitcoin payment processing service and over-the-counter service.
Little to No Trading Knowledge
Best for Bot Trading: Botsfolio
Investing as little as 5% of your net worth into cryptocurrency markets can nudge your portfolio toward outperforming the best equity tycoons.
Just answer a few questions to know how to allocate investment in different cryptocurrency trading strategies, add investment amount to your cryptocurrency trading exchange and link it with Botsfolio in minutes.
Bots automatically trade from your account and you can track your automated cryptocurrency trading activities on Botsfolio’s intuitive visual dashboard.
Get involved in hands-off bot crypto trading today.
All skill levels
Best API Trading Bot: 3Commas
3Commas is a trading bot API that can connect to several exchanges. To use this software, you need to make an account on 3Commas website and connect the exchange you use to 3Commas’ website. 3Commas supports most large exchanges, and the base version of its software is free to use.
3Commas also offers a premium service that lets you trade options. Trading options allows you to leverage your investments to potentially make faster profits. You can also use 3Commas’ smart trade feature to trade for you based on your personal risk tolerance.
copy trading investors
Best for Beginners: CryptoHopper
CryptoHopper is a cryptocurrency trading bot API supported by most big exchanges. This trading bot is the No. 1 choice for beginners because of its affordability and unique trading features.
If you’re new to CryptoHopper, you can get a free 3-month trial to test their services. After your trial is over, you can choose from 3 tiers of subscriptions ranging from $19 to $99 a month.
If you want to familiarize yourself with a trading bot but don’t want to risk money, CryptoHopper offers simulated paper trading. This is a great way for you to get acquainted with the software before risking your money. CryptoHopper has a built-in social trading platform where users can share their trading strategies, which is a particularly helpful tool for beginners.
Best for Saving Time: TradeSanta
TradeSanta is a cloud-based trading bot that allows you to automated trading across different crypto exchanges. TradeSanta can save you time as its crypto trading bot executes trades on your behalf.
You can choose the preferred setting when you create the trading bot. Then you can create as many separate trading bots as you want to scale your trading.
TradeSanta supports most of the major centralized cryptocurrency exchanges, and it’s easy to start your account today.
Traders Short on Time
Best Mobile App: CryptoHero
CryptoHero has a wonderful desktop interface that makes it easy to sign up and start investing. However, the CryptoHero mobile app is even better.
When you download the mobile app, everything stays the same. Everything is organized, and you can use the CryptoHero tutorial to start building a trading bot. Check current deals, review your dashboard and scan your portfolio to learn how much money is sitting in your account, the currencies you own and their performance.
Because you can use an API to connect to your preferred exchange (Binance, Huobi, OKEx, Bittrex, FTX, Kraken, Bitfinex, Coinbase Pro, Gate.io or Kucoin,) it is easy to plan your trading and connect to an existing account. Think of Crypto Hero as the boost your portfolio needs.
Plus, you can do everything from your phone because you likely don’t have time to check at work, you’re on the train, bus or street on the way home or you want to curl up on the couch while checking your crypto investments.
CryptoHero also allows you to use market indicators, run test trades and change your preferred currency. There’s no need to run back to your computer when the app sends timely notifications and gives you all the access you need.
Best for Advanced Traders: Trality
Trality is a platform for everyone to automate their trading strategies and create unique cryptocurrency trading bots. It offers a suite of innovative tools to allow traders of all experience levels to create their own…