Having a cryptocurrency trading bot can be one of the easiest ways to make money in market. There are a many to choose from, so we reviewed some of the most popular trading bots and summarized the details for you. If you don't feel like reading through the details and would rather watch the crypto bot review video, you can find it at the bottom of this article.
What You Need to Know About Crypto Bots
Your experience with coding can determine which crypto bot is the best for you. There are bots that are easy to use and are like a plug and play software, and there are other bots that require you to understand coding in order to make them effective. There are a few other factors that you should conside when choosing cryptocurrency bots:
- Costs
- Community Support
- Trading Strategies
- Exchanges Supported
Crypto Bot Pricing
Costs for crypto bots can be as low as free (Zenbot) to upwards of $2,250. Pricing options vary from product to product. Some bot developers choose to offer a one time lifetime license while others have a monthy or quarterly fee for their crypto trading software. The most popular trading bots charge bitcoin as payment which can be a little frustrating considering the rise in the price of Bitcoin over the last year.
Community Support
Whichever trading bot you choose, you want to make sure there is a community behind it that can offer help and advice. Too often product support can be lacking when it comes to technology companies and if you have similar experiences as I have, you are lucky if you get a response when emailing customer support within 24-48 hours.
Trading Strategies
I never really knew how many different strategies there could be when trading cryptocurrency. But let me tell you there a ton! If you are a beginner then you will definitely want to put more research into trading strategies.
Some trading stragies are very basic while others are part of a marketplace within the product. See the example below of the marketplace on CryptoTrader where you can purchase strategies that users have created. Each strategy includes a popularity score, cost to purchase the crypto trading strategy and exchanges supported for the strategies.
Exchanges Supported
It seems like a new crypto exchange turns up every week. Some are much better than others, but you need to find an exchange that fits you. I prefer Binance because it is the largest volume exchange, extremely low fees, a huge number of the top crypto currencies and the best trading contests I have seen (Free Coins and Cars). I have separated the exchange below into the largest and new exchanges that are growing quick.
CLICK TO SIGN UP ON BINANCE NOW
Largest Exchanges
- Binance
- Bithumb
- Bitfinex
- Bittrex
New Crypto Exchanges You Should Look At
- KuCoin
- COSS
Cryptocurrency Bot Reviews
There are many crypto trading bots but I narrowed it down to what I believe are the five best based on what they have to offer, pricing and usability for beginners or users who understand coding.
Zenbot
While the best feature for Zenbot is that the price is FREE, it does require an understanding of coding.
Cryptohopper
A good trading bot for beginners with affordable pricing. It may lack some of the features of more popular bots but will do the job just fine.
CryptoTrader
If you are a beginner and looking for a trading bot that you can grow with, this might be your best option. CryptoTrader has a great strategy marketplace and many features.
Gunbot
The Gunbot crypto bot is a little more advanced but the thing I like most is that it is a one time fee versus monthly like many other crypto trading bots.
Haasbot
When it comes to popularity, you won't find a trading bot more popular, but you will open your bitcoin wallet for it. While it is my highest rated crypto trading bot, I wouldn't suggest it unless you have a large bankroll.
Crypto Trading Bots Overview
Hopefully we have given you the knowledge to pick a crypto trading bot that fits your needs. I have included the full video review below.
