Many can say that trading crypto currencies is a very complex matter to understand. Certainly, it is more vibrant and volatile than the traditional stock and commodity market. In a single day it can have more pronounced falls or rises than those seen in classic markets in the one-month period.
Given the complexity of the issue, many have opted to leave trading in the “hands” of robots that capture the right market moments to make trades with profits. In this article we have decided to expose the most used and successful robots for trading with crypto currencies that exist in the market and how to apply them in our operations.
However, before making a list of the best bots, let’s touch some points that we consider extremely important and that should be known at the time of using a robot of this type.
Bots don’t know everything.
Crypto currency trading robots can calculate a lot of data and display a lot of information within the 2.0 world, but they don’t know it all. The elements linked to fundamental analysis are unknown to these bots since they are made up of news, reviews and facts that must be analyzed by a human being. These elements are very important and have an immediate impact on the crypt market.
Trading robots are not a permanent passive income.
The market for crypto coins is excessively volatile and this cannot be foreseen by any of the bot that are offered in the current market. That means they don’t work with a “go to bed and become a millionaire”. The most experienced traders within the cryptomarket recommend that these bots be used to meet specific objectives within the market and then withdraw profits from these movements.
There are many scams in the market
There are dozens of “robots” in the market that end up being vulgar frauds. On many occasions they show that they are moving your crypto currencies but then they conclude that different “market situations” made the investment go to zero. You have to be very careful of them and even be suspicious of those who enjoy advertising with excessive promises.
List of the best robots for trading with crypto coins
Having already indicated the elements that we should know before starting to use a bot for our operations of crypto currencies, we are going to indicate in a list which are the best that exist in the market of this 2019.
We start the list with one of the most popular crypto currency trading robots on the web. It is totally free and can be downloaded directly from the developers’ GitHub. A positive aspect of this bot is that the people behind this project are constantly working to improve the project in all its elements. The bot works with 7 Exchanges, including Poloniex, Bitfinex and Binance.
The downside of this option is the complexity of installing and running it. It requires us to have a minimum level of programming in order to start the program. The good thing is that once we get through this complexity, the program runs fully automatically and without problems.
It is another of the most popular bots in the market and is based on cloud technology, allowing you do not have to download the program on a single computer but you can access it from any device that has an Internet connection.
It’s one of the most user-friendly bots, it’s very easy to implement. It includes a market in which users can buy or sell trading strategies between themselves. It also offers a simulation system to test trading strategies with real data emerging within the market.
This bot is not free and requires us to make a payment in order to use it. Subscriptions are paid monthly and range from $16.50 to $199. We can use it in 9 Exchanges and among them are Coinbase and Binance.
One of the most expensive robots for trading with cryptomedas that exists in the market, but also one of the most professional that we can find. This bot allows users to combine a range of technical indicators in order to test and develop advanced crypto currency trading strategies. The bot also offers settings to set stop-loss¸ very useful within a bear market.
Another advantage of this bot is that it works with data from several major Exchanges such as Binance, Coinbase, KuCoin and Huobi. The Bot searches for opportunities among the different prices offered by each of them.
The downside of this robot is that it’s not cheap at all. Subscriptions must be paid annually and the cheapest is priced at $475 while the most expensive is $1360. Given these costs, it is advisable to use it only if it is going to be used with important cryptomoney funds.
It is one of the robots for trading with newest crypto currencies in the market, has less than a year of existence, but is called to give a change within the market. The developers present this bot as the “first decentralized trading application that applies Artificial Intelligence for crypto currencies”. They work with 9 Exchanges, including Binance, Kraken, Bitfinex and BitStamp.
The application works automatically and uses technical indicators within the market to detect the most profitable signals within the market. It also has a market where buying and selling strategies can be marketed among the users who make life within the application.
The developers mention that this is a bot that can be used by both trading professionals and people starting out in this market, however, its price is quite exclusive for those who are not very in the market. The subscription must be paid monthly and is priced at $50.
We’ll close the list with a “free” option. This is Zignaly, a bot for cryptomoney trading that is only in Beta stage and offers us to enjoy its functions for a free 30-day version. At the moment it is only available to trade in Binance, but according to the information shown on their website they are working to trade in KuCoin, BitMex, Poloniex and Bittrex.
Among the functions it offers us are the functions of establishing a cap on investment loss that is put, this allows the bot to “pursue” the market until prices are adjusted and profits can be made. Another advantage is that the application is very user-friendly and does not require a great deal of programming knowledge to get it up and running.