The best cryptocurrency trader bots
Tool & app

The best cryptocurrency trader bots

By Stefano Cavalli - 1 Sep 2019

Chevron down

The best cryptocurrency trader bots are able to generate substantial profits and are used to trade without having to be physically present.

Most traders do not know that a very high percentage of the transactions that take place on exchanges is carried out by software, the so-called automatic trader bots that are able to operate 24 hours a day, every day of the year.

There are several types: the ones that are free, the one-time paid ones and the ones that are paid monthly or annually. However, the best trader bots for cryptocurrency trading are probably the open-source ones.

Gekko: one of the best free and open-source cryptocurrency trader bots

Gekko is open-source software designed and developed by Mike van Rossum, who in recent years has received a large consensus within the crypto community. Its ease of use and wide customisation make it one of the best cryptocurrency trader bots, perhaps even the best.

It is a really versatile software and, above all, it is free. Since it is open-source software, it is worth noting that the community is able to find bugs quite quickly, which is another advantage of inestimable value in a market where trust is the most important thing.

It should be remembered that all these bots take advantage of the API keys provided by the exchanges and, as a result, the software can perform trading operations, withdrawal and deposit of cryptocurrencies directly from the personal account of the platform. This is why trust is very important in this area.

Among the supported exchanges there are undoubtedly the most famous:

  • Bitfinex;
  • Binance;
  • Poloniex;
  • Bitstamp.

It is possible to configure the bot with different trading strategies, developed in javascript. There are many functions and different indicators available, it is sufficient to combine them to test the performance of the bot thanks to the backtesting service, which allows testing a strategy on the history of a particular asset, such as bitcoin (BTC).

It can be configured through a web interface, whereas it is rather simple to install on a docker or on any remote server. Supported operating systems are Windows, Linux and Mac OS.

Many users complain about a complex installation, however, following the guide step by step, it is really simple in its initial set-up and there is no need for specific computer skills.

Cryptohopper: great paid software

Cryptohopper is a relatively new trader bot. Thanks to cloud technologies, it also functions safely remotely, allowing traders to operate at any time without having to keep their computer on.

There are many functions within this platform such as the section on technical analysis, the ability to backtest a selected historical chart, take advantage of already pre-set models for trading and much more.

It is not an open-source software and the cost of the basic package starts from $19 per month, reaching the most expensive version that requires $99 per month. In this case as well, the supported exchanges include:

  • Coinbase;
  • Bitfinex;
  • Bitstamp;
  • Huobi;
  • Bittrex;
  • Poloniex;
  • Kraken.

Gunbot: one of the best paid solutions

Gunbot has the advantage of offering many strategies already included in the platform. There is the possibility to take advantage of the Step Gains, the Bollinger bands and the famous Ping Pong. There are three different versions, the bitcoin (BTC) price for which ranges from  0.1 BTC to 0.3 BTC: it’s a one-off payment.

There is no need to subscribe to a monthly or annual plan: depending on the version purchased, there will be various functions available inside the bot. Gunbot is one of the best trader bots for cryptocurrencies and has over 6000 active traders in the crypto landscape.

More than 30 trading strategies are available and the bot can be installed on Windows, Linux and Mac as well as, of course, on a remote server.

Zenbot: Gekko’s competing open-source software

Zenbot is often considered better than Gekko even though the latter has been around longer. Just as with Gekko, the open-source approach helps considerably in resolving bugs and disputes thanks to the broad support from developers and the community.

The main problem with free bot traders is the lack of user-friendliness and intuitiveness. Users often expect free software to be more complex to manage and install, whereas with paid software, the graphical interface and all aspects of user-friendliness are better-taken care of.

Zenbot can be downloaded from GitHub or, possibly, through the command line. It can be installed on Windows, Mac and Linux and is also preconfigured with different trading strategies. Although the potential profit of software of this type derives from the personal strategies implemented, Zenbot is considered one of the best trader bots for cryptocurrencies.

Being open-source, it is possible to integrate any module, such as Telegram, Slack or any service that makes its API available in order to receive notifications on the real-time performance of the software.

CryptoTrader: one of the longest-running paid trader bot

Those who navigate comfortably within the trader bot industry have heard of CryptoTrader. It is one of the longest-running trader bots and was also among the first to be approved in the cloud, offering users the ability to use the software 24/7.

It is not a free trader bot, the price ranges from the initial 0.003 BTC per month up to 0.0474 for the premium plan. Do the features change? Yes, but it is always possible to trade automatically.

As far as the basic plan is concerned, the trader bot works normally, with the only exception that there is a limit on the volumes and trading operations that are carried out, whereas in the premium plan these limits disappear.

The most used exchanges for this bot are Poloniex, Bittrex and Kraken. CryptoTrader is considered one of the best cryptocurrency trader bots because of its features, which include the algorithmic trading service that makes life easier for users.

 

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.