While we all can appreciate the emotional rush from watching the crypto markets on a daily basis, we can also admit that it may not be the most efficient way to trade. That’s where algorithmic crypto trading bots can help. 

Instead of emotional impulses, programming an open source crypto bot capable of making trades based on data and patterns allows crypto traders to increase profits, mitigate risk, and limit losses across multiple exchanges. Basically, the trading bot helps you to take advantage of hours that might not be accessible for trading.

But what trading bot should you use? People often have their own benchmarks to pick a suitable bot, but below are some of our suggested bots that work.

  1. Crypto Hopper

This is one of the market’s most used trading bots, and it provides many of the features a novice should be searching for: paper trading, backtesting, trailing stop-loss, and a strategy builder tool that makes it easy to use over 130 indicators to customize your trading strategy. They have a robust tutorial section for beginners as well as the option of purchasing the best strategies and templates from expert traders. Within their signaler dashboard they make it easy to subscribe to many external signalers. 

 

CryptoHopper supports up to 12 exchanges and is cloud-based, and they still add more. It  has a marketplace of free and paid signals for experienced traders that you can combine with technical indicators to personalize your own strategy. 

They have three packages for a monthly subscription ranging from $19 to $99. 

  1. 3Commas

3Commas is a trading bot with a number of sophisticated trading options built in. Although it may have similar characteristics to other bots, there is one main feature that stands out: the ability for other portfolios to backtest trading strategies.

This will give you some insight into the strategies of the most effective users of the platform, basically enabling you to replicate their strategies, see how they function, and maybe expand on them. 

3Commas also provides the ability to trail a range of intelligent trade features, such as trailing. Trailing allows you to set the price you want the bots to close on a trade at the most profitable position even though the target gain set by the user had already been reached.

3Commas starts at $22 a month and caps out at $79 a month for their pro plan.

  1. CryptoHero

CryptoHero is a new entrant into this market but it has so many highlights. This trading bot strikes a balance between security, customizability and affordability with its beginner-friendly platform available on both mobile and web. Best performing bots are readily available to set up in just one click with their discover feature, by far the fastest and easiest way to get a bot running .

More importantly, even with its free plans, users can access its full feature bots that can use multiple indicator triggers and comprehensive backtesting. Free plans are currently limited by a maximum of 3 active bots and 1 single exchange connection. Premium plans are available for up to 15 active bots.

Currently, it supports some of the largest cryptocurrency exchanges in the market, such as Binance, Huobi, OKEx and Bittrex. 

They have a free package for the basic version and a $9.99 monthly for the premium version.