Best Bitcoin Trading Bots
Cryptocurrency, like any other trading commodity, has boomed in the past few decades. This currency has traveled across the world from billionaires to accountants. Earlier this decade when the value of these currencies (bitcoin) rocketed, it became a mode of higher trade and found its way into wall street. It still prevails in and around the globe as a new mode of trade (currency), but now has evolved into something of an investment jar.
To transact such investments, the brainiacs in the tech industry came up with a platform of trade and profit- a software or algorithm that helped everyone and anyone participating in this big trade game. These softwares were created for the purpose of making cryptocurrency trade easier and less tedious.
Today, the trading industry is filled with the best crypto trading bots and softwares that work as a medium for trade between the cryptocurrency and the trader. These applications are a set of algorithms which keep on trading and managing your cryptocurrency 24/7. Knowing very well that the cryptocurrency market is highly volatile and never stable, these applications keep the trade going according to the market.
Best Bitcoin Trading Bots: How to Choose One?
With new trading bots coming into existence daily, it is always a gamble when it comes to choosing the right one. There a plenty of new ones with flashy features and tools, but do not give a profit any time soon, whereas there are certain less flashy ones which yield good results very quickly.
Before deciding on a bot, make sure to look for these features in them:
1) Automated Trading
One of the main features of any legitimate trading bot is that the trade is always on the run. This means that be day or night, the bot will always be trading on your behalf. This sort of trading system is way better than any human trader, considering its round the clock trading and multiple tradings are done simultaneously.
You also do not have to worry about panic sales and greedy purchases happening suddenly, this is because the bot prevents such trades, and makes sure the user is benefitting the most out of this experience.
2) Indicators and Signals
Many trading bots function with the help of indicators. Indicators are nothing but valuable information given to the bots by professionals analyzing the trade market and its fluctuations and give tips to the bot.
These tips are considered by the algorithm and along with the external signals it receives, the bot makes decisions on it. Buying and selling certain points on the chart is all based on these indicators. Indicators play a major role in any crypto trading bot, so always choose the one with the most features of signals and indicators.
3) Real-time Backtesting
Backtesting is a traders’ method to verify the strategies made by user or algorithm, by collecting data from the past years and formulating that data to check the best possible outcome. If the strategy does not work out well, you can always take up a new method and backtest it with the required data.
This is one of the most important features that any trading bot should possess, as it helps to provide the best strategies to the user. The software gives out a detailed report for your strategy and also a few insights to where losses are more. Once you configure it and allow the bot to trade in accordance with your plan, your profits and trading will have a new high.
4) Hidden Fees or Restrictions
Try choosing a trading bot that has no hidden fees or restrictions after you take the subscriptions. Many times, illegitimate bots provide the subscription and services for a very less rate and then after a few trades, it starts asking for more money to unlock the remaining of its features.
The use of these kinds of bots are not advisable. Any good trading company gives out all of its services for particular tiers of pricing and will make sure that nothing is restricted or scammed. Though some of the prices might be high but the features given out will be exactly what they will promise and there will not be any increase in the price later.
Also, avoid any extra fee on the number of orders placed. Once paid, you should be able to invest unlimitedly and freely.
Though trading bots are nothing but rules and logics that are put into a software to yield profitable results, they are supposed to be much more than that. There used to be a time where there was a real-life human being sitting in a cubical, staring at trades and making calls to his/her clients. Now, all of this is being taken care of by a software.
This software has to be user-friendly and easy to understand. Because most of the traders are just amateurs and have little to no experience dealing with the trade market.
Thus, the bot should be equipped with extremely user-friendly software which helps the user to trade fearlessly and comfortably.
Many new bots have also started the beginners version where they teach a new user step-by-step about trade and cryptocurrency. Try seeking a bot with this new feature as well.
Top 15 Best Crypto Trading Bots 2019
3Commas is not like most of the trading bots in the world. Since the crypto market is very volatile, many trading bots have difficulty configuring to the sudden change. This sudden change normally includes sudden drops and rises, and the algorithm might not be equipped to handle it. But 3commas is one of the most elite trading bots. Its ability to adapt to change is uncanny.
Trading with 3Commas is rather safe and fun at the same time. Many trading bots aren’t accustomed to experience change quickly, but 3Commas has the unique feature of trailing loss and trailing profit. In most of the bots, the algorithm will sell your share as soon as it notices the rate dropping and will purchase it as soon as it rises. But 3Commas will look at the past experiences with your share and will not purchase it if it has dropped many times. There is no going back to weak investments.
The trailing feature provided by the 3Commas helps to achieve most of the profit in the safest way. The bot analyzes the market conditions and history-making sure to sell your coins at the right time. Ensuring the maximum return and profit of your investment. The bot adapts to changing market conditions with the help of this feature.
3Commas bot provides all the features that are available on any normal trading bot such as stop loss, take profit, automatic trade, etc. The bot is server-based and is hosted online which makes it always available when there is internet.
With the 13 most popular crypto exchanges including Binance, Kucoin, Bittrex, etc, the bot offers its services at three different packages with the first tier costing about $22 per month and the topmost expensive package costing you $75 per month. If you trade only on Houbi exchange, then the bot is completely free and can be used without a subscription on that exchange.
In this day and age where the market is really hard to rely on, you can always trust 3Commas and its algorithm. With the smart tools and features, you are guaranteed a good and worthwhile trading experience.
2- Bitcoin Trader
Bitcoin Trader software is by far one of the most popular Bitcoin trading bots among traders. It mostly cloud-based which means that it does not require any sort of installation on a physical computer and can be customized by its user for the correct results.
With a newbie guide and simple algorithmic logic this bot is very easy to use and can be tweaked as per the requirements of the user.
The strategy market feature allows you to trade strategies with other traders like many other bots. Features like the backtesting tool which enables users to test the trading strategies against the past data as well as the present market conditions.
This is one fancy bot for beginners as well as veteran users.
Bitcoin Profit is another one of those trading softwares (Bitcoin Trader, Bitcoin Loophole), which helps its users to make profits while buying and selling of bitcoins. This happens automatically without the need to input human research and effort. Bitcoin Profit is also known as Bitcoin Robot. This is because it is an automatic robot that does the crypto trading on its own.
In this article, we will flip through all possible dimensions related to Bitcoin Profit. We take all these pains to make you comfortable and knowledgeable regarding the software that you’d be using. Sometimes, people get confused as a wide array of automated bitcoin robots are present on the internet that can be used for placing the trades. Therefore, make sure that you go through the entire bitcoin profit review carefully and not miss a single thing as it may cost you later!