How To Make A Machine Trade For You: The Ultimate Guide to Crypto Trading Bots

It is impossible to imagine the modern cryptocurrency market without bots and algorithms. Most trades are done via robots – humans trading “by hand” can’t realistically compete with them in volume, alertness, speed, and precision. So, it is crucial for anyone interested in cryptocurrency trading to be familiar with algorithms and platforms for trade automation.

It is impossible to adequately assess varied robots and marketplaces using the same criteria. Therefore, we picked four essential categories of bots for crypto trading and the three best representatives for every category.

Beginner-friendly crypto bots

Robots for trading crypto are mostly associated with professionals who earn their living on speculations, automation is also a great asset in helping newcomers learn the ropes. We picked three robots that are the best at helping with the learning process - they will make your first weeks in the cryptocurrency world much smoother.

CoinRule – the entry-level bot for trading crypto

CoinRule is the quintessential “cryptocurrency trading bot for newbies.”

First, CoinRule UI is deliberately simplified as much as possible, making it very difficult to get confused. Customization tools are also made as simple as possible with minimal loss of functionality.

There is also an extensive tutorial section with plenty of high-quality articles on the basics of trading.

Finally, a wide variety of pricing options, including the basic free version, facilitates accessibility.

However, one should be careful with CoinRule’s more advanced plans (over $50 per month) – they are lacking compared to more professionally focused solutions and are more expensive. So, it would be better to switch to other platforms once you know what you’re doing.

CryptoHopper – trading bot for crypto and learning

CryptoHopper is an interesting case of a feature-rich solution that is also very accessible to newcomers. It boasts many advanced features but has an extensive and well-laid-out tutorial section teaching how to use them.

The pricing structure also fits the learning process: the basic package with minimal functionality is free, but as you learn more, you can switch to more advanced monthly plans, which range from $29 to $129.

Finally, a signal marketplace is available where you can get significant help identifying profit-making conditions.

Bybit Trading Bot – follow the market leaders

Copy trading is very popular among newcomers – not only does it allow one to make money without experience, but it also helps one learn the basics of trading by observing the actions of an experienced trader.

Bybit Trading Bot specializes in automating copy trading. The user can pick an experienced trader working on Bybit – one of the major cryptocurrency exchanges – and invest some funds into the program, copying said trader’s actions.

The fee is 10% of the profit earned – the user does not owe the trader anything if there is no profit.

The only real drawback is the filtering system – finding a suitable option can take a lot of time.

Free crypto trading bots

Software that doesn’t cost a dime to use is obviously very attractive, and robots for trading crypto are no exception. However, all such products come with serious limitations, be it the exchanges they are allowed to work on, the volume or the strategies.

Pionex – simple and free bot for trading crypto

Many modern exchanges offer free algorithms as an incentive for traders. Pionex is currently the best one.

First, unlike most smaller exchanges, Pionex doesn’t have liquidity issues since it is aggregated on Huobi and Binance.

Second, there are 16 specialized crypto trading robots that cover a wide variety of approaches, from grid trading to Martingale.

Finally, Pionex made sure that newcomers wouldn’t get confused and make many mistakes – it is strictly structured, and it is difficult to do something wrong.

Phemex – a free bot for futures

Phemex is a bot for trading crypto futures. The spot algorithm is currently in development. It is completely free and “noob-friendly”, but it is extremely simplistic.

Instead of a variety of trading approaches and elaborate customization tools, Phemex offers only three strategies. All of them are focused on reliability rather than high-risk, high-reward schemes.

This is certainly not for everyone, but on the other hand - it is hard to make a huge mistake while using Phemex, so it can be considered an easy entry point into the world of trading.

WienerAI – the Ai powered online crypto trading bot

WienerAI is one of the most hyped-up crypto trading bots on the market. It has yet to be released to the general public, but the holders of WAI tokens who took part in the pre-sale can already take full advantage of it.

WienerAI uses artificial intelligence to provide users with suggestions, so even complete newbies can create an effective strategy. Moreover, the AI helps with some mundane tasks, such as finding the best price for a specific coin across the wide variety of DEXes, considering all the fees involved in the transaction. AI also helps with MEV protection.

The developers claim they don’t plan to make WienerAI a paid product – it will remain free.

Professional crypto trading bots

People who rely on cryptocurrency trading as their main source of income have different requirements for trading software. Ease-of-use and accessibility become less important, while performance and customizability become crucial.

HaasOnline – a crypto robot for sel-reliant professionals

HaasOnline targets traders who are focused on privacy and self-reliance and know enough about trading and coding to independently implement sophisticated strategies.

Unlike most modern trading software, HaasOnline bots do not run in the cloud but on the user’s computer. This old-school approach gives the user full control over the robot at any given moment.

HaasOnline works with almost twenty exchanges, both centralized and decentralized. Thanks to that, if you want to remain anonymous, you can simply avoid CEXes with KYC procedures and avoid giving your personal data to anyone.

The platform’s proprietary programming language, HaasScript, enables extremely sophisticated strategies but is relatively easy to learn, especially for people with even basic coding familiarity. There is also a graphic editor for constructing bots from pre-made blocks, but it requires some sacrifices in sophistication.

The price varies between $9 and $99, depending on the number of bots you want to run simultaneously.

3Commas – a trading bot for crypto that does your taxes

The main selling point of 3Commas is the extensive array of extra tools that help professional traders with reporting and other tasks.

The basic functionality of 3Commas is on the higher end – bots can operate on a dozen of the major centralized exchanges, trailing stops can be easily implemented, and dollar-cost averaging support is available. However, these are not exceptional features.

On the other hand, automated tax reporting for US residents is exceptional. Tools for reporting crypto income are rare, and most leave a lot to be desired. 3Commas, on the other hand, offers a top-notch specialized crypto reporting toolkit.

The main drawback of 3Commas is the price: for $37 per month, you’ll get only 50 trades, while access to unlimited trades will set you back $59.

Hummingbot – a crypto bot for market-making

Hummingbot is a software designed specifically for market makers. It is a truly unique offering – at the moment, there is no other comprehensive market automation tool on the market.

Hummingbot enables the development of elaborate institutional strategies, liquidity cloning automation and the development of sophisticated market-making and arbitrage robots.

The extensive functionality, however, comes at a cost, and it is not limited to finances – Hummingbot is way too complicated for most readers to figure out. After all, the robot’s target audience usually has in-house teams responsible for working with robots.

Crypto bot trading platforms

Today, you can take full advantage of strategies developed by fellow traders for a small fee. Here are 3 best marketplaces where you can access such programs.

Mizar – crypto bots made by the community

Mizar is a decentralized exchange (DEX) that also has an extensive community-driven marketplace for crypto trading robots. Unlike most such marketplaces, Mizar allows bots suited not only for its exchange but also for over a dozen other trading platforms, both centralized and decentralized.

Bots available on the marketplace are not limited to community-developed ones. Mizar's in-house team created dozens of robots for the platform.

Robots charge a varied fee – 0,0047% to 0.1% of every trade.

At the moment, Mizar can be considered an exemplary community-driven marketplace. The team listens carefully to community suggestions when adding new features, such as recently added copy trading.

Kryll – a marketplace for crypto trading bots built with AI

Kryll is not just a marketplace for crypto trading bots. It is also a very powerful editor for building robots. It takes full advantage of recent advances in artificial intelligence to make the development of trading strategies easier than ever.

AI enables an effective graphic interface for building strategies. Instead of writing the code, the user simply drags and drops logical blocks on the chart. No special knowledge is required; a trading robot can be built visually. Thanks to AI, “simple construction” does not mean “simplistic strategies” – bots can be quite elaborate, utilizing features like trailing stops. The backtest feature helps with testing new developments.

The pricing is fixed: $0,33 per $1000 of trading volume. However, the fee can be reduced by holding the platform's native currency, KRL tokens.

Kryll also provides an opportunity for users to rent out their creations or rent a trading bot themselves if they don’t feel like building their own. In the latter case, of course, the fee charged by the strategy creator will be added to the platform fee.

Binance Bot Marketplace – find your crypto trading bot for sale

Binance grew beyond a mere cryptocurrency exchange a long time ago. Nowadays, it is a full-fledged ecosystem. A notable ecosystem component is Binance Bot Marketplace, a platform for users to rent and rent out their robots.

The main thing about Binance Marketplace is that it is huge. At the time of writing, there are over 98 thousand bots with more than $3.5 billion invested in them. Naturally, a huge variety of approaches are available, from copy-trading to elaborate arbitrage strategies. Fortunately, there is a robust filtering system, so finding a robot that suits you is relatively easy.

The pricing is also quite diverse – all providers charge a small percentage of every trade; however, the individual developer sets the fee, not the platform. Thus, it varies wildly. The minimum amount required to invest in a bot also varies greatly – from just a few dollars to a couple hundred dollars. So it is possible to find a solution for every budget.

However, it is worth remembering that Binance, one of the world's largest blockchain and cryptocurrency corporations, is an obvious target for regulators. Therefore, there are many restrictions based on local laws and requirements. Futures trading is unavailable in some regions of the world, and Binance’s operations are restricted in some countries.