10 Best Crypto Trading Bots for 2024 - Free and Paid

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Best crypto trading bot have Bybit

Your capital is at risk.

Top crypto trading bots:

  • 1

    Bybit - best for crypto futures;

  • 2

    CryptoHopper – best for easy setup process;

  • 3

    Coinrule – best crypto bot for strategies;

  • 4

    Shrimpy – best crypto bot for multiple crypto exchanges;

  • 5

    TradeSanta – best for reducing trading time.

In this in-depth guide, we'll break down exactly what crypto trading bots are and how they can positively impact your crypto trading experience. Our experts at Traders Union have put together a list of the ten best crypto trading bots to invest in for 2024. We based our criteria for these ratings on a number of things, such as overall cost, ease of use, numbered of coins available, how easy it is to integrate on an exchange platform, fees involved, extra features, customizability, etc. This guide will also explore the pros and cons of crypto trading bots, the types of bots out there, how to set a crypto bot up, how effective crypto bots actually are, how much you can actually earn, and some alternatives to crypto bots.

What is a Crypto Trading Bot?

A cryptocurrency trading bot is a computer program that automatically purchases and sells different types of crypto at specific times, either enforced by the trader or the program’s algorithm itself, for the purpose of generating a profit. That’s the simplest explanation for what crypto trading bots are, but they are quite a bit more complex than that. These types of bots use signals, algorithms, patterns, expert trader input, parameters, presets, and many other factors to execute trades based on certain market conditions and triggers. A crypto trading bot is no replacement for an actual human trader, but it can be a helpful tool to use, especially if you are a crypto day trader. Robots are being developed for different platforms. Most trading bots are created for Binance.

Pros of Crypto Trading Bots

There are quite a few pros to using crypto trading bots, including the following:

  • The lack of human emotions involved in crypto trading bots can bring a level of clarity to trading. It’s easy for traders to become startled by sudden market changes, usually the result of some political or economic news, and will panic buy or sell their crypto. Bots don’t take this approach and stick to their algorithms to ensure the safest and smartest trades.

  • Crypto trading bots make trading very efficient, as they can multitask, run an analysis of several currencies, conduct trades, scan the market, etc. There’s no chance your bot will miss an opportunity as a person would.

  • They can offer faster responses and overall processing.

Cons of Crypto Trading Bots

There are also some downsides to using crypto trading bots, including the following:

  • Even though crypto trading bots can offer a lot, they still need a bit of supervision in order to ensure that they are working well.

  • As with anything you download from the internet and integrate into an exchange account that contains your financial information, crypto trading bots could have potential security weaknesses. These bots trade via APIs, which can be vulnerable.

Main Types of Crypto Trading Bots

The main types of crypto trading bots are:

  • Trend crypto trading bots;

  • Arbitrage crypto trading bots;

  • Coin lending crypto trading bots;

  • Market-making crypto trading bots.

Trend trading crypto trading robots are crypto trading bots that use market trends, such as upsurges in prices, to make trading position choices, such as entering a long position. These bots will also enter into short positions when a price goes down.

Arbitrage crypto trading robots are crypto trading bots that utilize arbitrage, or trades that use price imbalances in various markets to make trading decisions. These bots track the difference between coin prices in different markets.

Coin lending crypto trading robots are crypto trading bots that make it possible to earn on crypto by lending coins to margin traders, thus later returning the loan with an additional percentage.

Market-making crypto trading robots are crypto trading bots that actively trade assets to widen the spread, thus bringing in more profits. Specifically, these bots will sell to investors at higher values over a selling price as often as it can.

Top 10 Best Crypto Bots Providers – Free & Paid

The following crypto trading bots are our top picks for traders in 2024. Each of the bots we’ve chosen for this list is based on a number of different criteria, such as analytical tools, ease of use for beginners and advanced traders, altcoin options, low caps, features, fees, pricing, exchanges available for integration, and much more.

Our favorites include:

  • Bybit Trading Bot;

  • CryptoHopper;

  • Pionex;

  • TradeSanta;

  • Coinrule;

  • Shrimpy;

  • Quadency;

  • WunderBit;

  • Trality;

  • Botsfolio.

Best Crypto Trading Bots Comparison

Bot name Type of Crypto Bot Best For Pricing

Bybit

Crypto exchange with trading bot

Best for comfortable using

Free

CryptoHopper

Crypto trading bot builder

Best for Easy Setup Process

$19 to $99 per month

Coinrule

Crypto trading bot

Best Crypto Bot for Strategies

Free to $29.99 per month

Shrimpy

Crypto trading bot

Best Crypto Bot for Multiple Crypto Exchanges

$19 to $299 per month

Quadency

Trading strategy and crypto bot builder

Best Crypto Bot for User Experience

Free

Pionex

Crypto exchange with trading bots

Best Crypto Bot for High-Volume Investors

0.05% of total trade value for maker and taker fees

TradeSanta

Cloud-based crypto trading bot

Best Crypto Bot for Reducing Trading Time

$14 to $30 per month

WunderBit

Crypto exchange with trading bots and copy trading

Best Crypto Bot for Copy Trading

Free to $44.95 per month

Trality

Crypto algorithm builder

Best Crypto Bot for Automation

Free to €59.99 per month

Botsfolio

Crypto trading bot

Best Crypto Bot for Beginners and Non-Developers

$5 to $20 per month

Bybit - best for crypto futures

Open an account
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Bybit has carved a niche in the crowded crypto trading market with its Bybit Trading Bot. This feature sets the platform apart by offering automated crypto trading with ease. Forget about staying glued to your screen; the bot can execute trades on your behalf based on pre-configured settings. Whether you're a novice or an experienced trader, the Bybit bot offers strategies tailored to your level.

One of the greatest advantages is the zero additional fees for using the bot. You only pay the standard trading fees based on your VIP status. This makes it incredibly cost-effective, especially for traders who are scaling their operations.

The bot comes with a variety of pre-configured and code-free trading robots. These bots employ different strategies like market following, arbitrage, and scalping, allowing you to diversify your trading approach. This flexibility not only saves you time but also enhances your chances of consistent profits.

Let's not forget about risk management. Bybit Trading Bot allows you to set stop-loss and take-profit points, offering an extra layer of security for your investments. No longer will you need to wake up at odd hours to check on your trades. The bot works tirelessly, ensuring you don't miss out on profitable opportunities while minimizing potential losses.

Bybit's Trading Bot is a game-changer in the crypto trading space, combining automation, flexibility, and cost-effectiveness. If you're looking to optimize your trading, this feature should not be overlooked.

CryptoHopper – Best for Easy Setup Process

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Your capital is at risk.

CryptoHopper is a Crypto trading bot builder. This crypto tool is the best overall tool for automated crypto trades and day trading. Currently, CryptoHopper supports 9 crypto trading exchanges for integration. The current pricing for this crypto tool is $19 to $99 per month.

There are a few advantages to using CryptoHopper, including 24/7 trading capabilities, cloud storage and hosting, no downtime, an easy setup process, and no platform installation required.

Coinrule – Best Crypto Bot for Strategies

Coinrule is a Crypto trading bot. This crypto tool is best for creating, building, and implementing crypto trading strategies. Currently, Coinrule supports 10 crypto trading exchanges for integration. The current pricing for this crypto tool is Free to $29.99 per month.

There are a few advantages to using Coinrule, including over 150 customizable trading templates with predefined parameters, tons of stop-loss and holding strategies, a variety of pricing packages to suit your budget, and up to $3,000 in monthly trading volume.

Shrimpy – Best Crypto Bot for Multiple Crypto Exchanges

Shrimpy is a Crypto trading bot. This crypto tool is best for use on multiple crypto exchanges, which might be beneficial for more advanced crypto traders that utilize more than one exchange. Currently, Shrimpy supports 18 crypto trading exchanges for integration. The current pricing for this crypto tool is $19 to $299 per month.

There are a few advantages to using Shrimpy, including plenty of crypto exchanges to integrate with, tons of different wallets to access, a great variety of account plans, social trading capabilities, and a relatively simple approach to using crypto trading bots.

Quadency – Best Crypto Bot for User Experience

Quadency is a Trading strategy and crypto bot builder. This crypto tool is best for beginners, as the user experience and interface are very simple and easy. Currently, Quadency supports 13 crypto trading exchanges for integration. This crypto tool is completely free to use.

There are a few advantages to using Quadency, including the ability to build a top-notch trading strategy, excellent crypto exchange options for integration, great asset access, advanced charting, integrated market screeners, and a lot more features.

Pionex – Best Crypto Bot for High-Volume Investors

Pionex is a Crypto exchange with trading bots. This crypto tool is best for X. Currently, Pionex supports one crypto trading exchange for integration, that being the Pionex trading platform itself. The current pricing for this crypto tool is 0.05% of the total trade value for maker and taker fees.

There are a few advantages to using Pionex, including crypto conversions, twelve different unique trading bots, automation capabilities, a great mobile app, an excellent product selection, and an easy-to-program bot interface.

TradeSanta – Best Crypto Bot for Reducing Trading Time

TradeSanta is a Cloud-based crypto trading bot. This crypto tool is best for high-volume crypto investors. Currently, TradeSanta supports 8 crypto trading exchanges for integration. The current pricing for this crypto tool is $14 to $30 per month.

There are a few advantages to using TradeSanta, including cloud storage and hosting, great automated trading capabilities, easy to customize settings, trade scaling capabilities, and an easy-to-open account.

WunderBit – Best Crypto Bot for Copy Trading

WunderBit is a Crypto exchange with trading bots and copy trading. This crypto tool is best for social and copy trading. Currently, WunderBit supports one crypto trading exchange for integration, that being the WunderBit trading platform itself. The current pricing for this crypto tool is Free to $44.95 per month.

There are a few advantages to using WunderBit, including regulation compliance, great exchange rates, great social trading, the potential for commissions for expert traders that are sought out by investors, and easy automation customization.

Trality – Best Crypto Bot for Automation

Trality is a Crypto algorithm builder. This crypto tool is best for overall crypto trading automation. Currently, Trality supports one crypto trading exchange for integration, which is currently Binance. However, more exchanges may be integrated in the future. The current pricing for this crypto tool is Free to €59.99 per month.

There are a few advantages to using Trality, including a super simple platform, excellent automation capabilities, a great community-driven infrastructure with educational materials, advanced trading algorithms, and features that are ideal for beginners and advanced traders alike.

Botsfolio – Best Crypto Bot for Beginners and Non-Developers

Botsfolio is a Crypto trading bot. This crypto tool is best for beginners and non-developers who don’t want to deal with a ton of coding. Currently, Botsfolio supports one crypto trading exchange for integration, which is currently Binance. However, more exchanges may be integrated in the future. The current pricing for this crypto tool is $5 to $20 per month.

There are a few advantages to using Botsfolio, including an extremely robust crypto trading bot, no need for coding or even trading skills, the ability to choose your investment goal, easy exchange integration, and the ability to fully automate your portfolio.

How to Set Up a Crypto Trading Bot

Setting up a crypto trading bot doesn’t have to be very difficult.

The following steps can be applied to virtually any bot and any crypto exchange:

  • 1

    Decide on the programming language you plan to use, such as C and Javascript. However, many of the bots we’ve listed above do not require developer knowledge.

  • 2

    List out the exchanges that you want to integrate your bot with. Verify that your bot is compatible with those exchanges. For the bots that are part of their native exchange, skip this step.

  • 3

    Create accounts on your crypto exchanges of choice.

  • 4

    Follow your trading bot provider’s instructions for installation and integration. In most cases, this is not difficult. If possible, we recommend starting out by integrating your bot with a demo account on your chosen exchange so you can test it.

  • 5

    Set your parameters and customization. It helps to have your risk assessment, parameters, and trading strategy prepared to ensure your bot reflects your needs.

  • 6

    Launch or publish your bot. If you are using a demo account, we recommend playing around with different strategies to see which one works best for your bot.

  • 7

    Start automating your trades. With a live exchange account, we recommend risking very little capital and monitoring the actions of your bot to ensure it is working properly without potentially risking your money during the testing stage.

  • 8

    Once assured that your bot works, begin trading as your normally would on your exchange and let the bot do the work.

Are Crypto Bots Effective?

Yes, crypto trading bots can be quite effective for passive and active crypto traders alike. That being said, we wouldn't recommend expecting to become rich off of crypto trading bots and the trades they conduct. Instead, these automated tools are beneficial for making small profits over the course of a long period of time.

Just as well, day traders can benefit from these bots, as they make it possible to trade while sleeping or doing other things. Crypto trading bots can be quite profitable. However, the amount of profit you earn from bots can vary based on the specific bot you choose and how you program it.

Functionality of a cryptocurrency Trading Bot Functionality of a cryptocurrency Trading Bot

Functionality of a cryptocurrency Trading Bot

How Much Can I Earn?

There is no guarantee of how much you can earn by trading cryptocurrency with bots. During a market rally, you can make good money quite easily. However, during a flat or downturn, efficiency drops quite a bit. We recommend going to your bot’s settings to study the algorithm used in-depth to improve efficiency. We also recommend studying the educational materials and knowledge base that your bot provider offers. In general, though, we recommend not betting on crypto trading bots to make you rich overnight. Bots simply make the process of trading crypto easier and faster. Since these bots rely on your own parameters, risk assessment, trading decisions, and overall needs, they should just be seen as an extension of your own trading capabilities.

Crypto Bots Alternative for Beginners

For beginners looking to enter the world of cryptocurrency trading without using crypto bots, several alternatives can provide a simpler and potentially less risky entry point:

Copy Trading. This allows beginners to mirror the trades of experienced traders automatically. By copying the strategies of successful traders, novices can learn and earn simultaneously.

Managed Accounts. With this option, a professional trader or a team of traders manages your investment on your behalf. It's suitable for those who prefer a hands-off approach while benefiting from expert trading strategies.

Trading Signals. These are recommendations or tips, usually from experienced traders or automated analysis, that suggest entry and exit points for specific cryptocurrency trades. Beginners can use these signals to make informed decisions without extensive market analysis.

5 Tips For Using Crypto Trading Bots

Do you want to use crypto bots but need a bit of help getting started?

Here are some key tips and tricks:

  • Do your research. All of the bots we’ve mentioned in this guide are excellent choices for beginners and advanced users alike. However, if you are researching other crypto trading bots, be sure to look up reviews on sites outside of the provider website.

  • Don’t set it and forget it. When first using a new bot, you should supervise the trades they make to ensure that no mistakes are made and that the bot is working the way it should, implementing your parameters and trades the way you want.

  • We don’t recommend giving your bot withdraw access.

  • Make sure to save your API key and keep it safe. Do not give anyone access to your API key.

  • Always test. Backtesting and live testing will ensure that your bot works well.

Expert Opinion

As a cryptocurrency trader and analyst, I've tested many crypto trading bots in the market and can offer my professional perspective on their effectiveness. Overall, employing a properly programmed trading bot can be an advantageous strategy, particularly for investors who want passive exposure to crypto price movements but don't have time for extensive chart analysis and active trading. The best bots featured in this article provide easy-to-use interfaces and support for major exchanges that make them suitable for beginners to automate basic trend-following strategies.

However, it's important for any trader using bots to carefully back test strategies, set risk controls like stop-losses, and monitor performance closely in the initial phases. While bots remove emotion from the equation, the crypto market remains volatile and unpredictable at times. Traders must also beware of security issues and carefully vet any bots before linking exchange API keys.

With prudent practice, crypto trading bots can certainly benefit portfolios, but not without an element of ongoing human guidance and risk management.

Igor Krasulya

Igor Krasulya

Author at Traders Union

FAQs

Can you lose money with crypto bots?

Yes, if you don't configure the bot, test it on historical quotes, and monitor its trades.

Are trading bots risky?

Yes. Using any tools in trading can enhance trading performance but won't eliminate the risk of loss.

Will a paid bot be more effective than a free bot?

There's a possibility. The seller is interested in the effectiveness of their product and their reputation, as it brings in more buyers. Therefore, they are likely to offer a functional product and assistance in its setup.

Is it possible to create a bot without knowing how to code?

Yes. Some brokers have robot constructors that create bots based on specified parameters and algorithms. However, any robot still requires testing by a historical quotes tester.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.

Mikhail’s motto: Learn something new and share your experience – never stop!

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Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.

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Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.