Even though there is always some turmoil going on in the cryptocurrency trading market due to various global news flow, it is still the most profitable trading market in the world. Since cryptocurrencies are the future of the present currency system and various countries have made it legal for daily transactions and trading, the scope of cryptocurrencies is increasing exponentially and so does the opportunities to make money from them. When it comes to trading in the cryptocurrencies, there are two ways available. The first one is the most popular one whereby people trade manually and try to go with the trend by self-assumption. The second option is more interesting as all the trades are taken automatically by cryptocurrency trading bots.
What Are Cryptocurrency Trading Bots?
A cryptocurrency trading bot is a software that analyzes the cryptocurrency trading data on the behalf of the users and then executes trades automatically whenever it feels that the trade is going to be beneficial. What the users have to do is integrate or embedded a cryptocurrency trading bot with the cryptocurrency charts of a trading exchange where they have a trading account and the rest will be done automatically. The use of cryptocurrency trading bots is increasing exponentially as some of them have been able to make the users rich in a very short period of time taking the advantage of the huge volatility in the cryptocurrency trading market.
It is a fact that not many people really understand the cryptocurrency market well. Most of them here as it is a trending thing and they have heard that many people are doubling their money in no time by trading in the cryptocurrency market. But the market is highly volatile and newbies are likely to lose a lot of money if they are not patient and have insight about the cryptocurrency they are trading. That is where a real cryptocurrency trading bot can be highly beneficial as it acts as an expert and minimizes the risk of losses and maximizes the profit ratio. But there are various fraud cryptocurrency trading bots also available that can rob your cryptocurrencies and money in the blink of an eye. The following is the some of the best cryptocurrency trading bots you can consider for trading in cryptocurrencies automatically without your intervention.
Best Cryptocurrencies Trading Bots –
There are various parameters to consider while choosing a cryptocurrency trading bots. Some of the crucial parameters are trading strategy, exchange supported, community support and of course, the cost. There are some which have plug and play interface while others need some coding experience to make them embed on the exchange you are trading.
Haasbot – Haasbot is the most popular and highly rated cryptocurrency trading bot available in the market at present. It allows automatic trading in bitcoin and various other popular altcoins like Ethereum, Litecoin, and likewise and it is currently the most trusted platform. You can automatize your trading strategy and let the bots take trades for you based on your trading strategy. It supports multiple popular trading exchanges so that if one exchange goes down, the trigger trade can be taken in the other available exchanges.
Haasbot offers a highly customized dashboard to manage everything effortlessly and you can set up different strategies for buying and selling individually. Apart from automatic trades, you can take manual trades whenever you have time. You will get notifications for all triggers and trades and there is an advanced reporting system. Additionally, there is no dearth of technical indicators, simple indicators and alerts called safeties and special conditions called insurances.
CryptoTrader – CryptoTrader is a cloud-based cryptocurrency trading platform with trading bots. If you have some coding experience, you can create your own bots with your trading strategy so that the trades are executed automatically based on your strategy without your presence. It supports most of the cryptocurrencies and exchanges. You can also backtest your bots and strategies. The best part about CryptoTrader is that you can buy the proven money-making strategies or bots of other users if they put them up for sale. There is no software installation required as the bots run on their servers and you can get SMS and Email alerts for all triggers.
Gekko – Gekko is an open-source cryptocurrency trading platform that is specifically designed for automated trading strategy. It supports over 25 different cryptocurrency trading exchanges. You can create your own bots, use the available indicators, and run them against the live market and set up to take trades automatically. There are various plugins available to keep your alert and updated with the latest happenings while trades triggered, a condition satisfied, and likewise. It runs on all operating systems. It offers a great web interface and you can calculate profit and risks involved beforehand and optimize your strategies accordingly.
Apart from these top three cryptocurrency trading bots, you can have a look at Zenbot, Tradewave and BTC Robot which are popular for making money in the cryptocurrency trading.