When it comes to cryptocurrency trading, a lot of users prefer an automated approach. Although there are a few trading platforms which offer built-in algorithmic trading, trading bots are also very popular. It is interesting to see how the landscape has evolved in this regard.
Gekko
Although Gekko has been around for a while – and it was mentioned in our previous article on Bitcoin trading bots – it is a project which continues to evolve. Given its free and open-source nature, there is nothing one can genuinely dislike about the tool. It supports over a dozen cryptocurrency exchanges and offers users some very basic strategies to experiment with. It is a bit too simplistic for advanced traders, but for newcomers, it is still worth checking out. Key lacking features include arbitrage options and high-frequency trading, but that is not entirely surprising.
Haasbot
Every time someone touches upon Bitcoin trading bots, the name Haasbot will enter the discussion at one point or another. The team’s algorithmic trading tool has been around for nearly five years now and has seen a steep increase in popularity. This is mainly because it not only supports Bitcoin, but also hundreds of altcoins across over a dozen exchanges. It is not a free bot, mind you, as it costs at least 0.12 BTC per month to take advantage of its features.
Leonardo
While it may not be the Da Vinci of Bitcoin trading bots, there are sufficient reasons to look closer at Leonardo. Despite its somewhat limited support for exchanges, and its relatively steep cost of 0.5 Bitcoin, Leonardo gives most users what they are looking for. It has two built-in trading strategies, which means it is not necessarily suited for advanced traders looking for customization options. Even so, it has one of the most comprehensive user interfaces, which is something novice traders will appreciate.
Gunbot
Although the name may not necessarily ring a bell for everyone, Gunbot is one of the older trading bots out there. It’s a stand-out solution due to its various proprietary strategies. Experts who are familiar with Bollinger Bands will certainly find what they seek in this bot. Gunbot also supports a wide range of exchanges, including some of the leading USD trading platforms. Even so, Gunbot may require slightly more babysitting than others, as it’s relatively lenient when it comes to major price swings.
CryptoTrader
This particular tool is a very interesting addition to Bitcoin’s trading bot ecosystem. It is an online platform which lets users design their own trading bots and strategies. From a customization point of view, CryptoTrader knows no equal in the current market conditions. It also supports most of the big exchanges, and its various price tiers make it relatively affordable for novice users.