The market of bots is on the rise. And, it is only going to get bigger. According to estimates, the global market for chatbots will grow from $2,568.3 million in 2019 to $19,570 million in 2027, at a CAGR of 28.7%. Keeping up with the trend, the market for crypto trading bots is also on a surge.
What Are Crypto Trading Bots?
At its core, a crypto trading bot is a set of programs that automate crypto trading on the user’s behalf. Yet, its function is not limited to only executing the buy and sell on the user’s behalf. The bots look at the market statistics, analyze them, and then interpret them before executing the buying or selling of the crypto assets. The interpretation of the market statistics is followed by the calculation of potential market risks as well.
In essence, they do everything that you typically expect a crypto trading expert to do. The difference is that you do not hire an expert. For instance, if you instruct a crypto trading bot to purchase a specific amount of Bitcoin when the price attains a mark, it will do so. In effect, you will save a lot of time and cost.
There are several crypto trading bots in the market. Not all of them operate at similar standards of efficiency. Bots also differ in their user fees, software and hardware requirements, and many other parameters. It is crucial to know about their merits and drawbacks, strengths and limitations so that you can make an informed choice.
Here, we help you to cut the clutter with our picks for the top crypto trading bots for 2021.
KuCoin
Anyone who has spent some time trying to know how the crypto world works must’ve heard of KuCoin, the crypto exchange. Ranked as the best exchange platform in globalization deployment, with more than 800 million trades and counting, KuCoin serves 1 out of 4 crypto holders worldwide. When an exchange with such impressive credentials decides to deploy its bot, it must keep up with the brand name. And, the KuCoin crypto trading bot does it successfully.
It is convenient to use and saves a lot of time with its intelligence-rich, fast trading strategies. It also has a very low barrier to entry. Initially, the bot was only available on the KuCoin app. But, responding to the popular demand, it has launched the bot on the web end, with provisions for a wider screen with more information on it and a user-friendly interface.
The benefits of the KuCoin bot are multiple. It helps increase profitability and reduce the cost of decision-making by eliminating the user’s physical and emotional weakness and cultivating scientific investment concepts and habits.
Irrespective of your risk appetite and your experience in the industry, you can leverage KuCoin to make the most out of your existing conditions. If you are newly initiated to the world of crypto trading, you can use KuCoin’s classic grid bot, while experienced users with high risk-appetite can leverage the Futures grid. DCA is helpful for investors willing to go for the long run, while Smart Rebalance is ideal for profit maximization. KuCoin trading bots, active 24/7, have already been selected by more than 2.6 million KuCoin users.
ByBit
Garnering more than a million registered users in little more than three years, ByBit has grown into one of the fastest-growing crypto derivatives exchanges. Not only it offers a professional, smart, intuitive, and innovative trading experience and a fair and transparent trading environment, but it also hosts a lot of bots that prove of excellent use for professional traders. The 3Commas, for instance, is a smart trading terminal and auto trading bot. It helps improve consistency and manage the risk-reward ratio to its optimum. ByBit is also popular among bot creators as you can connect your ByBit account to 3Commas through the ByBit API keys. The trading bot also allows its AI to leverage a trade analysis.
The Alertatron bot on Bybit helps execute orders on any signal, be it from a bot or TradingView alert. It will trigger any sequence of trades the user wants to. Haasonline helps to fully automate Bitcoin and altcoin trading on the major exchanges, while Profit Trading can execute Stop Loss and Trailing Stop orders with its app trading bot. TokenBot on Bybit serves as a notification platform, equipping novice traders with the ability to follow and copy every trade executed by seasoned investors in real-time.
FTX
Despite being a relatively new crypto derivatives exchange, launched in 2019, FTX has already featured among one of the top five derivatives exchanges by open interest and trade volume by Coingecko. The exchange paired up with 3Commas and developed an automated program to generate the best trade returns. A trading robot with 24/7 monitoring capability executes the trades at high speeds.
The FTX trading bot is cost-efficient and charges 0.02% maker fees and 0.07% taker fees. Yet, high-volume traders and those who come through a referral qualify for more discounts. Before you decide to use it, you can have a free trial to understand all the features it has to offer. The bot runs on SaaS and is available online. You do not need to download it. At the same time, you get a mobile app on iOS and Android both.
The FTX trading bot’s setup mechanism keeps the passwords encoded and can not be forged. You can link your FTX account to 3Commas by using your API keys and switch off the option to withdraw.
Stacked
Stacked helps you manage your assets and invest in pre-built portfolios and strategies run by leading hedge funds and traders. It is compatible with all the leading exchanges in the crypto world, including Bitfinex, KuCoin, Coinbase, Binance, FTX, Phemex, and more. With a track record of handling more than 1 million trades with more than $10 billion in assets traded, Stacked caters to thousands of users who put their portfolio on auto-pilot trusting Stacked. The Stacked Strategy Marketplace is where you get a tested set of live trading strategies from several authors, and the bots keep the users updated with verified performance data. The Stacked bots include the Psycho Bot, Samurai Scalp, SW Capital, Trend King, etc.
