Best Crypto Trading Bots in 2022 • Benzinga Crypto

Looking for a crypto trading bot to help you navigate the crypto markets? Coinrule is among the best trading bots available!

Trading bots allow crypto investors to automate buying and selling of positions based on key technical indicators. Bots implement specific trading strategies, competing to attain the highest “win rate”, or percentage of profitable trades. Some strategies involve the crossing of certain moving averages, triggering buys and sells automatically.

Our guide for beginners will help you learn more about crypto trading bots and introduce you to a few of our favorite trading bots currently available. 

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Best Crypto Bots Right Now

As the cryptocurrency market gains more attention, it’s now easier than ever to get started with a bot to help enhance your investment strategy. Let’s take a look at a few of our favorite crypto trade bots now.  

1. Pionex

Pionex is a cryptocurrency exchange with built-in trading bots. You can access 18 unique trading bots, and it’s free to register. These bots allow you to automate your investing strategy so you don’t need to constantly monitor the market.

Pionex features low trading commissions and a fully fleshed-out mobile app. We believe Pionex would be a great option for high-volume and mobile investors.

Though Pionex supports manual trading using crypto-to-crypto conversions, its primary product is its trading bot selection. A cryptocurrency trading bot is an automated program that executes buy and sell orders with no manual input when specific, pre-defined market conditions are met.

The trading bot selection includes:

  • Grid Trading Bot allows users to buy low and sell high in a specific price range.
  • Leveraged Grid Bot provides up to 5x leverage.
  • Spot-Futures Arbitrage bot helps retail investors to make passive income with low risk. The estimated return for this strategy is 15~50% APR.
  • Martingale bot performs DCA buy, one-time sell to capture fluctuation profit.
  • Rebalancing bot helps you to hodl the coins.
  • Dollar-Cost Averaging (DCA) Bot Sets repeated purchasing at regular intervals to offset the effects of volatility.

Plus, the Smart Trade terminal allows traders to set up stop-loss, take profit, trailing in one trade.

Pionex uses a maker-taker fee schedule, which means that you’ll pay a fee when you place trades that “make” liquidity on the market and that “take” liquidity away from the market. If you place a trade that isn’t immediately matched by an outstanding order on the books, you’ll pay the maker fee of 0.05%. If you place a trade order that is matched immediately with an outstanding order, you’ll pay the taker fee of 0.05%.


get started

securely through Pionex’s
website

Best For

High-volume Investors

1 Minute Review

Pionex is a cryptocurrency exchange with built-in trading bots. You can access 12 unique trading bots for no additional fee. These bots allow you to automate your investing strategy so you don’t need to constantly monitor the market. Pionex features low trading commissions and a fully fleshed-out mobile app. We believe Pionex would be a great option for high-volume and mobile investors.

Best For

  • High-volume investor looking for the lowest fees
  • Mobile cryptocurrency investors
  • Traders with limited time
  • Those looking for a lower risk investment strategy
Pros

  • 12 free-to-use trading bots
  • Low fees on all transactions
  • Well-designed mobile offering
Cons

  • Cannot fund account with fiat currency

2. Coinrule

When it comes to providing the widest range of preset trading strategies, it’s hard to beat Coinrule’s wide selection. The crypto trading bot currently allows users to customize investing with more than 150 trading templates automatically executed when market conditions meet predefined parameters. From accumulation to long-term holding strategies and stop-loss settings, Coinrule constantly introduces new templates to its platform.

Though the number of templates that you’ll have access to will vary depending on the plan you choose, Coinrule offers a free package with 7 complimentary template strategies and up to $3,000 in monthly trading volume. Additional paid packages include features like advanced charting options, unlimited template usage and even one-on-one trading tutorials and lessons. 


get started

securely through CoinRule’s
website

Best For

Advanced Trading Indicators

1 Minute Review

Meet Coinrule, the next generation in cryptocurrency trading. Coinrule lets you create customizable trading rules, access 150 templates and take advantage of numerous moderately priced trading plans. If you are a new crypto trader, you can do paper trading and backtesting to check your strategies. 

Different plans for all levels of traders include the Starter, Hobbyist, Trader and Pro. Each plan helps you build your skills and knowledge to become better at cryptocurrency trading. The platform is one of the best for digital currency trading and learning how to be a consistently successful crypto trader.

Best For

  • Advanced cryptocurrency traders
Pros

  • Outstanding customer service
  • Advanced security
  • Several pricing plans with promotions
  • Advanced trading indicators

3. Shrimpy.io

When you use Shrimpy.io, you can connect to any of 18 exchanges to manage your portfolio. Connecting to several exchanges is possible, and you can add as many wallets as you need.

Choose the account style you prefer, be it Starter, Professional or Enterprise. With low prices, you can easily keep up with Shrimpy and allow the bot to maintain your investments when you don’t have the time.

Use a demo account to test your investment options. Use social trading to copy an expert. This is a simple platform that allows you to consolidate your investments when you might have spread your money across several different exchanges.


get started

securely through Shrimpy’s
website

Best For

Novice Crypto Investors

1 Minute Review

Shrimpy.io is a cryptocurrency portfolio management and social trading tool. The online platform helps traders and investors alike to manage all of their crypto holdings on several exchanges via a single platform. You can log in one time and execute buy or sell orders effortlessly across a large magnitude of trading pairs and exchanges.

On a macro-level crypto holders can manage their assets by using Shrimpy’s portfolio management tool to adjust asset allocation. It is possible to either automatically or manually allocate changes in your holdings, denominated in percentages. These changes will be automatically executed by the platform itself. The process is easy and makes managing your cryptocurrencies more effective.

Pros

  • Shrimpy offers a great deal of unique features that focus on portfolio management
  • The platform is user-friendly and easy to understand
  • You can copytrade profitable traders and capitalize on their experience
Cons

  • Shrimpy does not offer free plans for beginners starting out
  • In-person, live customer support is not available

4. Cryptohopper

The cryptocurrency market is constantly moving — even short periods of down time can result in missed profits when you rely on a cryptocurrency trading bot. Cryptohopper is a 24/7 trading bot that hosts its services entirely using cloud storage.

This means that the bot experiences no downtime and updates are served without interrupting your trading or putting a halt on your account. Even when your network is offline, your Cryptohopper account will continue working.

Cryptohopper also offers an easy and intuitive setup process, with no credit card information required to join. Simply sign up for your account and get started investing — no platform installation required. The bot also integrates social sentiments with other investors, which can further enhance your trading and help you refine your strategy.


get started

securely through Cryptohopper’s
website

Best For

copy trading investors

1 Minute Review

Cryptohopper is an all-inclusive trading terminal that aims to make investing in the cryptocurrency market easier and more intuitive. Investors can automate their investing processes, copy professional traders, set signals and alerts through their mobile app and more directly through Cryptohopper. This allows investors to stay on top of the market no matter which coins they trade, which exchanges they use and where they travel. 

Although investors will need to invest in a paid platform to use Cryptohopper’s most advanced features, the platform doesn’t charge a per-trade commission. Instead, it bills investors a flat monthly rate proportional to the number of tools they have access to.

Best For

  • Investors interested in copy trading
  • Investors who already have accounts set up with their brokerages of choice
  • Investors looking for advanced analysis tools that don’t require professional coding experience to implement
Pros

  • Doesn’t charge an additional commission on top of monthly fees
  • Provides investors with access to high-level analysis tools
  • Comprehensive mobile app includes advanced security features
Cons

  • No phone customer service options
  • Must purchase a monthly plan to access most useful features

5. Trality

Trality is a platform for anybody who wants to create highly intricate, super-creative algorithms within an educational, community-driven infrastructure that promotes learning and development as a trader.

Founded in Vienna in 2019, the platform has quickly become one of the most popular choices worldwide for both beginner and advanced crypto traders.

For those who don’t know how to code advanced trading algorithms, they developed a state-of-the-art tool called Rule Builder – A graphical user interface that lets you build your trading bot’s logic by simply dragging and dropping indicators and strategies.

For advanced users who know Python coding, Trality’s browser-based Code Editor is the most advanced of its kind. This tool allows developers to make use of their coding knowledge to create intricate and advanced strategies securely and fast.

Both of their tools allow you to perform lightning-quick backtests so you can validate your algorithms before deploying your new bot into a live market and you can paper trade to see how it is performing right now without using real money.

Trality is absolutely FREE to get started with flexible pricing plans for all sorts of users.


get started

securely through Trality’s
website

Best For

Automating Strategies

1 Minute Review

Trality offers a trading bot creation platform suitable for both beginning and advanced cryptocurrency traders based on the Python application programming interface (API). 

The fully cloud-based Trality web app lets you build without the need for special equipment or downloads. Trality’s Code Editor feature will suit more advanced traders while beginners should be able to use its Rule Builder that lets you create trading bots easily by dragging and dropping indicators to build your strategy.

If you’ve ever thought about automating your cryptocurrency trading with a technical signal-based algorithm, keep reading our Trality review to see if it might suit your trading bot development needs.

Best For

  • Cryptocurrency traders who want to automate their strategy
Pros

  • Tools for coders and non coders alike
  • End-to-end encryption
  • Easy-to-use, interactive and graphic based user interface
  • System completely cloud-based
Cons

  • No mobile application yet
  • Has the most popular exchanges but needs more

What is a Crypto Trading Bot?

A cryptocurrency trading bot is a computer program or application that trades cryptocurrency for you based on predefined conditions. Most crypto trading applications work in a straightforward manner — you authorize the bot to buy or sell an asset if and when it reaches a specific price point or indicator. Your bot then takes care of placing and executing your order so you don’t need to monitor your platform all day to see when these price movements are reached.

You can customize your crypto bot to execute orders according to your unique trading strategy. For example, you might instruct your bot to sell a lot of coins at a price of $10 and buy them back if the price falls back to $9. Most cryptocurrency bot providers charge a monthly or annual fee in exchange for using the bot’s services. The supported cryptocurrencies, exchanges and account options available through your trading bot will vary depending on the provider you choose. 

Do Crypto Bots Actually Work?

Many crypto trading bots purport a high level of successful trades. However, remember that the cryptocurrency market constantly changes and price trends always fluctuate. If you plan to take a completely hands-off role when it comes to investing, you may not see the same type of results that you would actively managing and reprogramming your trading bot based on market conditions. 

Are Crypto Trading Bots Profitable?

Crypto trading bots can help you make more educated trades and remove some of the emotions that might lead to increased losses. However, it’s important to remember that crypto trading bots are simply pieces of software. They cannot guarantee a profit for any investor and they may quickly become less useful during periods of high market volatility. 

Advantages of Crypto Bots

If you’re the type of trader who tends to make market movements driven more by your emotions than your trading strategy, a crypto trading bot might be able to help you enhance your trades. Some of the advantages that come with using a crypto trading bot include:

  • Automated investing options: From panic selling to fear-of-missing-out buying, there are a countless reasons why a person might choose to execute a trade that causes them to lose money. When you rely on an automated investing bot, none of these factors will come into play.
  • Faster speeds and more efficiency: It can take an individual trader minutes or even hours to fully scan the entire cryptocurrency market searching for opportunities. By the time you spot a potential opportunity, the market could shift in the opposite direction.

Crypto trading bots offer more efficiency, scanning entire sections of the cryptocurrency market in as little as a fraction of a second. Your crypto bot can also enter and execute orders faster than you can enter the same orders manually. If you’re looking to add another layer of speed and efficiency to your trading, employing a crypto trading bot might be the right move for you.

  • More time on the market: Unlike the stock market and the forex market, the cryptocurrency market operates 24 hours a day, 7 days a week. It’s not feasible for investors to spend 24 hours trading. Crypto trading bots provide you with additional hours of exposure without requiring you to be actively monitoring your positions. 

Disadvantages of Crypto Bots

Cryptocurrency trading bots aren’t for everyone. Some of the disadvantages that come with using these features include:

  • Prior knowledge: Though many cryptocurrency trading bots come with predefined settings and templates, you’ll need to know how to set these templates and when each template will be executed. If this is your first time trading cryptocurrencies, changing the settings on your trading bot can result in fast losses.
  • Requires monitoring: Trading bots aren’t a “set-it-and-forget-it” solution to cryptocurrency trading. The cryptocurrency market is volatile, and trading bots can result in losses during periods of high volatility. If you don’t have the skills or knowledge to monitor the market, a trading bot may not be the best choice for you.

Invest in a Crypto Trading Bot

If you aren’t sure cryptocurrency trading is right for you, you might want to take some time to learn more about the market by monitoring how prices change. Tracking how some of the largest cryptocurrencies move and practicing different strategies with a paper trading account can help you enter the market more effectively. A trade bot, then, allows you to dip your toes in the market while providing excellent guidance.

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Best Crypto Trading Bots in 2022 • Benzinga Crypto

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