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Top 7 Best Bitcoin Trading Bots in 2018

  • Alex Morris
    ⭐ Features

    Picking the right bot for automated trading may be difficult, but this comprehensive review of the top 7 Bitcoin trading bots will surely alleviate the task. When choosing the best bots for crypto trading, we took into account such factors as the number of available trading strategies, exchanges, and, of course, the price of the monthly/annual subscription. However, there are also other issues.


Top 7 Best Bitcoin Trading Bots in 2018
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Trading bots are computer programs that automate the execution of trades on the market. They are extremely useful for beginner-level traders who aren’t capable of making an in-depth analysis of the charts. You cannot solely rely on Bitcoin trading bots, since they may go haywire and bring you substantial loses, but it still an effective tool for backtesting that provides you an ability to thoroughly test out a trading strategy without actually risking your own money.

It is worth mentioning that trading bots get a rather good reception from major cryptocurrency exchanges because they help them reach higher trading volumes and increase liquidity. There are trading bots for both inexperienced and advanced traders. Beginner trading bots are more suitable for individuals without programming skills. The article will focus on different types of bots. 

Best Bitcoin Trading Bots in 2018

ProfitTrailer

ProfitTrailer is one of the most popular bots out there with more than tens of thousands active users around the globe. As of now, the trading bot works with three exchanges – Binance, Bittrex and Poloniex. All you have to do is to buy a license for a program that can be run either on your PC or on a remote VPS server. The former is the most reliable way to use the ProfitTrailer bot, since it eliminates any connectivity issues. However, setting up a VPS server may be a bit challenging for non tech-savvy users.   
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ProfitTrailer has rather beginner-friendly user interface. The homepage displays all the important information that is required for monitoring your trading activity. In order to see all your holdings, you have to go to the ‘Pairs Log’ tab while ‘Sales Log’ displays everything you’ve sold while using the bot. 

When it comes to pricing, just like with the previous case, there are three packages with prices varying from 0.03 BTC to 0.09 BTC. Hence, the most expensive offer will currently cost you about $590 for three licenses, which is very reasonable compared to other bots.


ProCrypto

ProCrypto is the tool that you need to survive in the mercurial cryptocurrency market. For $350 per month, your trades will be handled by sophisticated bots that are powered by the most advanced algorithms on the market. These bots, while being quite pricey, are able to reach a whopping 77 percent accuracy, and they are being constantly improved by an algorithmic trading vet.    

Overall, there are three types of bots: high time-frame, medium time-frame, and ‘7-minutes scalper.’ There is no one-fits-all solution given that your choice depends on the market conditions. If the market is in limbo, it makes sense to take crumbs from the table by trading in extremely tight ranges. High-time time frame bots are your safest option when the volatility goes through the roof, but do not expect to make huge profits since the frequency of trades is very low. Subsequently, lower time-frame bots have less impressive accuracy, but your return on investment (ROI) could grow by 500 percent in 5 months.

Pro Crypto Bots site page

Automated trading is not perfect, but ProCrypto bots, which support both long and short trades, provide you with an amazing opportunity to generate passive income even when the market is bleeding. However, there is no guarantee that you will be profitable from the get-go — you should be focused on the long-term perspective.

GunBot

GunBot is yet another advanced crypto trading bot for algorithmic trading that works with numerous exchanges, including Binance and Kraken. The bot allows its users to pick various trading strategies that can be customized according to your personal trading style. These strategies include:

  • TSSL (trailing stop/stop limit),
  • Bollinger Bands,
  • Stepgain,
  • Ping Pong.

Once you’ve picked your trading strategy and a cryptocurrency pair, you can configure the bot using your exchange API for third-party programs. Now you can take advantage of any precoded trading strategy. As mentioned above, it is recommended to run any bot (GunBot is not an exception) on a VPS, since it gives you more stability and flexibility.  
Gunbot interface
Such an extensive set of trading features obviously comes with a price. There are three premium solutions with the price of the cheapest one (‘Gunbot Starter’) being set at 0.04 BTC. ‘Gunbot Ultimate,’ which comes with unlimited access to all exchanges and the TradingView add-on for more strategies, will set you back 0.25 BTC. When purchasing a Gunbot license you do however receive an equal amount of Gunthy Coin. This means that whenever you decide that the bot isn’t your cup of tea, you can always sell these coins to recover your initial investment. You might even make a little extra if the price of Gunthy has increased! 

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3Commas

Now, we are going to focus on a relatively young Bitcoin bot that has already won over the crypto community. As of May 2018, it had more than 20,000 active users and its average trading volume exceeded $6 mln. It was launched in September 2017 as a pre-funded project. 

The system features three different kinds of bots:

  • simple,
  • short,
  • composite.

Simple and short bots allow you to do only one trading pair at a time (for going long and going short respectively). Composite bots, as their name suggest, supports numerous crypto pairs simultaneously. 

The peculiar thing about 3Commas is that they do not use popular trading strategies like Stepgain and Ping Pong. Instead, it relies on robust tradingviews analysis, but it still may seem underwhelming for ordinary traders. 

The prices are more than reasonable– you get a starter pack only for $25 while unlimited access to all available exchanges will set you back around $84. 3Commas is constantly expanding the list of available exchanges adding integration with Kucoin, CEX and other platforms. 

AutoView 

The majority of the abovementioned trade bots are rather expensive, so if you are on a tighter budget and still look for an automated trading solution, then you should probably pay attention to AutoView. This cryptocurrency trading bot is super cheap, but it doesn’t mean that it is inherently bad. 

The AutoView bot comes in a form of a simple Google Chrome extension that gives you an ability to automate TradingView. Gunbot extension, for instance, has more advanced trading features, but they come with a significantly higher price. AutoView is not a beginner-level extension, since it requires users to manually program stop and losses into the script on TradingView. Those who are not good at programming can take advantage of numerous AutoView scripts that are available for free. For example, you can use the MACD indicator that gives you signals for both bullish and bearish MACD crossovers. 

There is a free version of this program with three available exchanges (1Broker, Bitmex Testnet, GDAX Sandbox). ‘Bronze Autoview’, which features Kraken, Binance, Bitfinex along with ten other cryptocurrency exchanges costs only $5 per month. 

Haasbot 

Haasbot is the most sophisticated trading bot for true trading gurus. The project was launched in 2015 by Stephan de Haas. Despite the fact that this software has been around for a long time, many Bitcoin owners still haven’t heard about it due to its professional-oriented tools and rather a high price, which makes the product not affordable for run-of-the-mill traders.  
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Unlike Gunbot or any other aforementioned Bitcoin trading bots, Haasbot puts emphasis on customization (you can create your own dashboard, focus on different indicators and so on). One can choose between trade bots, arbitrage bots and order bots– all of them are extremely easy to set up. Just like in case with AutoView, there are script bots as well, but they require profound C# coding skills.  
     
Haasbot offers three-month, six-month and 12-month licenses for different groups of users. The most advanced plan costs 0.208 BTC. This is definitely one of the most expensive offers on the market, but for slightly more than $1,200 per year, one can get an unlimited access to all HaasBots along with insurances, safeties and a myriad of trading indicators. 

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Cryptotrader 

Cryptotrader is considered to be the most popular bot for automated trading. This Bitcoin day trading bot is compatible with basically all major exchanges, so you will have a seamless experience of running a GDAX bot or a Poloniex bot.  

On top of that, Cryptotrader has such a major advantage like cloud-based bots, which essentially means that there is no need to install software on your computer in order to run them. 
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With Cryptotrader, plenty of trading strategies are available for free, but you can still purchase new ones in the market section. Both amateur and professional developers are able to sell the source code for a new trading bot here. There is also a backtesting option for those who want to try out a certain strategy on batches of historical data without actually engaging in trading. While some critics argue that the cryptocurrency market is highly volatile for backtesting giving any relevant predictions, it may still show whether you are on the right path or not.  

The price of any Cryptotrader plan fully correlates with the BTC value. That simply means that you will have to pay more if another Bitcoin bullish trend persists. A total amount of five subscription plans gives you a diversity of choice – from Basic+ to Premium. Those who go for the most expensive offer will be able to run up to 25 crypto trading bots simultaneously, but they have to pay from $200 per month. 

The bottom line 

As you can see, we’ve just reviewed drastically different bots for automated cryptocurrency trading, but all of them can be considered a viable option depending on what kind of trader you are. Hence, it is hard to determine the best Bitcoin autotrader, since the decision solely depends on your personal trading needs. 

There are obscenely cheap offers in the likes of AutoView that require good programming skills. Beginner-level users may play safe and go for 3Commas. At the same time, high rollers may consider shelling out $1,200 to pay for the annual Haasbot license. 

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Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?

  • Yuri Molchan
    ⭐ Features

    Stablecoins show hardly any volatility compared to Bitcoin and altcoins, many are hoping that they will be able to bridge new crypto economy and regular fiat money


Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?
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Bitcoin, the father cryptocurrency, emerged in hope that it will remove all intermediaries in electronic commerce that cut off their share of payments. BTC was perceived as a P2P way to replace fiat cash in an electronic format, which would enable one party to pay another without any financial institution or payment platform which would demand its share of a transaction as a reward for its services.

What is wrong with Bitcoin

For quite a while Bitcoin was performing the way the crypto community expected. But the situation changed later – BTC rate became weaker, thus bringing down its financial and economic reliability, when it gets to be used as a regular means of payment.


You cannot have a currency that would cost like a British castle today, a gram of gold – tomorrow and a pack of French fries the day after.

At that point practical fintech minds came up with an idea of creating something which would become a breakthrough in the universe of crypto – a so-called stablecoin.

Will stablecoins solve the volatility problem?

Technically, stablecoins are protected from the volatility roller-coaster that Bitcoin and other cryptos love to ride. They are programmed to keep their prices stable and investors now are largely attracted to this new type of digital assets.

Stablecoin does not show any volatility in its monetary value, since it has a fixed connection to an asset it is pegged to. The major goal of using stablecoins is taking the best from decentralized crypto coins and combining it with a constant value. Thanks to it, stablecoins can be used as a reliable means of trade.

Asset-pegged stablecoins

Asset-backed ones get their value from an asset as can be understood from the name. An asset provides the necessary value to a coin, as well as the necessary legitimacy.

A great example of an asset-pegged stablecoin is Tether (USDT). In spite of a series of scandals at the end of last year, it remains the most popular stablecoin in the crypto market.

Recently, it has partnered with the Tron Foundation to launch a Tron-based stablecoin.

Other examples are TrueUSD (TUSD), USD Coin (USDC), the Gemini Dollar (GUSD), and the Paxos Standard (PAX). They are all pegged to the USD.

Crypto-backed stablecoins

Some digital coins work in a similar way to fiat-backed ones, however, they are pegged to collateral crypto. That means that crypto assets that ensure the value of such stablecoins are stored in a wallet similar to escrow.

A good example of a crypto-pegged token is Maker, which is ranked 16 on CMC.

Algorithmic stablecoins

Even though, stablecoin can be interesting at first thought but the way they are built goes against the principle of decentralization that crypto coins have as a foundation. Thus, many crypto fans and evangelists are positive that stablecoins must be linked towards not a centralized asset but a computer algorithm which takes value from a balance between supply and demand.

Basis is now considered the most promising algorithmic stablecoin of all.

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Can stablecoin ensure smooth future for the crypto industry?

The primary goal of all crypto assets was and remains to come up with virtual asset that would be liquid enough and not vulnerable to market volatility. From this point of view, stablecoins are a dream of all crypto fans and evangelists of a decentralized economy.

Apart from the potential to conduct crypto transactions smoothly, experts believe it can bridge the two worlds – fiat and crypto, bringing them a mutually beneficial coexistence. However, that may take time.

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