Best Crypto Trading Bots 2020

Crypto trading bots are computer programs that work around the clock to help you buy and sell cryptocurrencies at the right time so that you can generate a good profit from cryptocurrency trading. The crypto trading bots work more quickly and efficiently when compared to the trader himself.  

There has been a rapid increase in the use of cryptocurrencies which has led to an increase in the use of crypto trading bots. Some of the crypto trading bots are free and open-source, while some are purchased from firms in exchange for some amount. 

Crypto trading bots access the data of the user on the exchange of his choice. The user can allow the trading bot to access their account by providing their API public key and API private key. These keys are a way to inform the exchange that the user has permitted the trading bot to access their account information. But, the bots can’t withdraw any user funds, they can only trade.  

After the access is granted, the user can direct the bot about when he wants to sell and when he wants to buy the currency. As per the directions of the user the bot begins its trading strategy. Later, the user can check the bot to find how much he is benefitted from the bot trading strategy. If the profit is not as per the expectations, then the user can reset the directions given to the bot and begin trading again.   

As cryptocurrency trading is an exhaustive process, choosing the right crypto trading bot is quintessential. Here are the features of a good crypto trading bot you should consider:

• The reliability of a crypto trading bot plays a prominent role in choosing a trading bot. So, always choose the one which has positive feedback and has more number of users.
• Check for the safety and the amount of transparency that the bot offers.
• See if the bot offers you with ample amount of profit. Otherwise, it is of no use, when the bot can not offer you a good profit. 
• The trading bots with a user-friendly interface will work best, as the main purpose of the crypto trading bot is to automate trading. 

While we have good information about crypto trading bots, let’s understand why we need a c crypto trading bot. 

• Automated trading features of the bots, will eliminate the delay in decision making and trade efficiently as per the directions. 
• Even if you can’t look after the trading process, the bots will do it for you in your absence. 
• Cryptocurrency trading bots are extremely efficient. 
• If you are a beginner in this industry, the bot will act as an excellent learning tool for you. 

3Commas

3Commas is a well-known crypto trading bot that offers automated cryptocurrency trading management. The 3Commas platform launched in 2017 and the company is based out in Toronto. 3Commas serves the investors of all sizes. Say you want to buy Bitcoin when it reaches $10,000 on Binance exchange. Also, you want to sell it when the currency reaches $15,000. 

When you have such a plan it is difficult for you to sit and trade day and night. 3Commas is a customizable platform that works as per the user strategies and trading activities. While 3Commas is a customizable platform, it also supports short sells, stop loss and take profit orders, trailing orders, composite bots, and more. 

Suppose you aren’t sure of how to trade or if you’re a beginner and want to copy the portfolio of an experienced trader, then 3Commas allows you to copy the portfolio. You can analyze their statistics and walk in the same footsteps. 

Bitsgap

Bitsgap crypto trading bot was introduced in 2017 and since then the platform has added many trading tools like portfolio management, arbitrage opportunity, and smart trading features for its users. The number of users keeps increasing and Bitsgap now has more than 500,000 active traders worldwide.

Cryptohopper

Cryptohopper is a crypto trading robot that automates your cryptocurrency trading process. Traders with all experience levels can use cryptohopper to maximize your profits and reduce losses. Cryptohopper BV based in Amsterdam, Netherlands, owns and operates the platform. The domain cryptohopper.com was registered in 2017. 

Suppose you want to buy Rapidz when its value increases by 5% in 24 hours, then this trading bot will accomplish your task. It offers immense flexibility to traders of all experience levels. If you’re a beginner in cryptocurrency trading and not sure about trading, then you can purchase a strategy from the Cryptohopper platform to help you trade effectively.  

TradeSanta

TradeSanta is a cloud-based crypto trading platform that automates the cryptocurrency trading process and offers a lot of features. This trading software automates your trading strategies which can run 24/7 and works on your behalf. Be very sure about your trading strategies, because if the strategy is not perfect, you may lose money as well. 

TradeSanta offers a simple user interface and supports major decentralized cryptocurrency exchanges.

TradeSanta also works as per your directions of buying and selling a cryptocurrency. This trading bot will also calculate the profit level and add it in a long/short order. TradeSanta bots are high speed, as they have the ability to place up to 100 times more orders when compared to the manual process.

The three trading bots 3Commas, Cryptohopper, & TradeSanta use an API key that allows the platform to make transactions on the user’s behalf at various cryptocurrency exchanges they support. These three platforms have a few features that are common:

• To ensure 24/7 connectivity they use a cloud-based platform. 
• They offer paid services.
• Use API keys to work with a range of crypto exchanges. 
• Offers automated options of trading.
• Allows long/short trading with limit orders.
• Provides a user-friendly trading interface. 

While you have got an idea about their similarities, let’s take a look at how are they different from each other in various aspects. 

3Commas 

Currently, 3Commas supports 23 exchanges namely: Binance, Binance DEX, Binance Futures, Binance Jersey, Binance US, BitMEX, Bitfinex, Bitstamp, Bittrex, ByBit, Cex.io, Coinbase Pro (GDAX), Exmo, FTX, Gate.io, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, Poloniex, & YoBit.

Cryptohopper

Currently, Cryptohopper supports 13 popular cryptocurrency exchanges namely: HitBTC, OKEx, KuCoin, bitvavo, Binance, Binance.US, Coinbase Pro, Bittrex, Poloniex, Kraken, Bitfinex, Huobi, & Kraken. 

TradeSanta

Currently, TradeSanta supports 8 popular exchanges namely: HitBTC, Binance, Bitfinex, Bittrex, Upbit, Huobi, OKEx, & Bitmex.

3Commas 

The 3Commas trading bot is free for trial. It has monthly, 3 monthly, 6 monthly, and yearly packages that incorporate various features. 

Starter Pack: It begins at $14.5 per month and includes features like Smart Trading Terminal, Concurrent Take Profit and Stop Loss, & Short & Long Algorithms. 

Pro Pack: It costs $49.50 per month and includes all the features Smart Trading terminal, Concurrent Take Profit and Stop Loss, TradingView Custom Signals, Simple bots, Short and Long algorithms, View and copy bots, Composite bots, Bitmex, Binance Futures, ByBit, and FTX futures bot, and GRID bot.

Advanced Pack: It costs $24.5 per month and includes almost the features like Smart Trading terminal, Concurrent Take Profit and Stop Loss, TradingView Custom Signals, Simple bots, Short and Long algorithms, View and copy bots.

Cryptohopper

Cryptohopper trading bot offers four packages to its clients. Traders can take a trial of the trading platform before submitting any payment details. After the trial period ends traders can purchase the full subscriptions which come in monthly or annual packages. Choosing a plan that exists more than a year is much cheaper. 

Pioneer Plan: This plan offers a free option where the features are limited to portfolio management and manual trading. 

Explorer Plan: This plan offers a free trial for 7 days. The TA scan interval is for 10 minutes and allows traders to manage 80 positions which come up from 15 coins.

Adventurer Plan: This plan allows the trader to manage 200 positions and trade 50 coins with a TA scan interval of 5 minutes.

Hero Plan: The premium package where the trader experiences all the features of the trading bot. Allows managing 500 positions and trades 75 currencies with a TA scan interval of 2 min. Triangular Arbitrage bot and market-making bot usage are allowed only in this package. 

TradeSanta

Similar to other trading bots, TradeSanta also offers 4 packages ranging from a free trial plan to the premium plan. 

Minimum Plan: The minimum plan includes up to 2 bots with unlimited cryptocurrency trading pairs. The package does not allow access to a dedicated support manager however the user can seek general support. 

Basic Plan: The basic plan includes up to 49 bots at $14 per month. Rest other features are similar to the minimum plan. 

HitBTC Promo Plan: At $20 per month, this plan includes up to 49 bots having a 0% trading fee on HitBTC. Rest other features are similar to the basic plan. 

Maximum Plan: At $70 per month, the maximum plan includes an unlimited number of bots with a 0% trading fee on HitBTC. Rest other features are similar to the HitBTC promo plan. 

3Commas 

The 3Commas iOS or Android mobile app will always help stay on top of your trading game. Being at the top means that you can trade effectively and perform competitive analysis anywhere at any time. The development offers the best trading view integration and user-friendly interface. There are no bugs found in the app and its functionality supports both mobile and desktop. But lags in the desktop app. 

Cryptohopper

Cryptohopper app is supported on both iOS and Android devices. In case any problem occurs while you install the app do check the installation instructions available on the website. The installation process is quite easy and quick. The app performs smoothly on all platforms. 

TradeSanta

TradeSanta iOS or Android app has an easy to use interface. For those who are installing the application for the first time just need to link your cryptocurrency exchange to your trading bot and proceed to the screen for trading. You can choose a trading strategy, a trading pair, and add other important tools.

3Commas 

There is no much information available about the security rules of the 3Commas trading bot. Developers have developed high-security systems using API keys connectivity, 2FA, no withdrawal to bots, and a lot more. As of now, there are no reports of any fraud occurrence, but the information isn’t transparent. 

Cryptohopper

One of the safest crypto trading bots is the Cryptohopper trading bot. It does not store any coins within the bot, hence avoids any compromise of user funds. Data collection, storage, and processing practices are followed as per the strict rules by the website. No need for any personal identification information while trading, but uses cookies by traders.

TradeSanta

You can consider TradeSanta to be one of the safe trading bots. They protect their user’s accounts and information. Only the bot is allowed to trade, the team members cannot access or withdraw the user’s funds. It also allows extraordinary security By enabling 2FA, choosing a secure password, or checking API permissions on the chosen exchange.  

3Commas 

3Commas offers a range of features that include: 

Wide range of bots: This trading bot supports short, simple, composite, and composite short bots. You can also set up stop loss and take profit targets using these bots.

Performance tracking tools: This trading bot offers performance tracking so that you can create and auto-balance your portfolios. 

Social trading: You can track the performance of your competitors through social trading features.

Cryptohopper

Cryptohopper offers a range of features that include:

Automated Trading: Trade your favorite coins using the automated trading process. Have your own trading strategy that the bot will trade for you.

Trading by signals: If you’re a beginner in trading, then you can copy signals that are sent to you by third-party technical analysts so that you can set-up your own strategies.

Efficient templates: You can set up and alter your trading bots as the trading bot permits you to save and load your own templates.

Technical analysis: There are volatility, trend, volume indicators, and tools that analyze the market price technically. Ultimately helps you determine the trading strategy. 

Analyze past data: Analysing the previous data is always effective as it can give you a brief idea about the present and future trends. Hence it helps you to fine-tune your trading strategy so that you get optimal profit. 

TradeSanta

TradeSanta offers the following features: 

Grid & DCA: You just have to choose your trading strategy as per the market and the bot will take care of your profits, whether you want the profit for each purchase separately (Grid) or on an average of all the orders(DCA). 

Extra orders: Suppose the prices do not go as per your choice, the TradeSanta places extra orders to buy or sell more coins at the current price. So that you can get the desired profit with a slight change in price in the future. 

Long & Short Strategies: Whether the price goes up or down, Tradesanta will launch trading bots with short and long strategies simultaneously. 

Stop Loss: The stop loss option manages the risks if the trade has gone against your strategy. 

3Commas 

There is an uncommon feature of trailing any cryptocurrency market. In this feature, the tool can trade the most profitable position irrespective of where they are placed. Initially, it is hard to achieve the highest profit percentages, but as time passes traders will learn how to improve bot configuration. 

Cryptohopper

The Cryptohopper features are designed in such a way that they ensure steady profits. Although the bot generates high profits, it is not the same every time. It is because of the high transaction fee of the trading bot.  The transaction fee of the Cryptohopper trading bot is 0.5% of the investment. This is one of those trading bots that offer maximum ROI with adequate risks. 

TradeSanta

TradeSanta does not make any promises about how profitable the operations can be. It does not mean that TradeSanta is not effective. But being transparent shows its credibility. Whether you are a beginner or an expert day trader, you can choose TradeSanta because of the transparency it offers.

3Commas 

Pros

• Well designed user interface. 
• Support a good number of exchanges. 
• It allows smart trading.
• Allows copy trading.
• It is a Cloud-based platform. 

Cons

• Beginners find it hard to trade using this trading bot.

Cryptohopper

Pros

• Quick and easy installation. 
• Easy to configure. 
• Supports good exchanges and coins.
• Offers a lot of features.  

Cons

• Need to pay extra charges for signals. 

TradeSanta

Pros

• Stable and Secure
• User-friendly Interface
• Extra Order feature
• Reasonable Pricing
• Easy Installation

Cons

• As the trading bot is new to the market, it supports a limited number of exchanges. 

All the trading bots are superior in their own way as the difference between them is negligible or almost equal to null. If you need a simple automated trading tool, then any of the three will work fine. For people who are not sure about trading bots, can use Cryptohopper as it offers a free trial for a week, whereas 3Commas offers a 3-day free trial and TradeSanta offers a 5-day free trial.  

Those who are looking for a fully-automatic trading platform can go with 3Commas. As it will trade along the parameters created by the client. All trading bots support top exchanges, although TradeSanta supports a little less number. While you consider the pricing of the three bots, TradeSanta will work fine for you, as its charges are lesser compared to Cryptohopper & 3Commas. TradeSanta offers extra order features which allows you to make profits even when your strategy doesn’t support the market fluctuations.