Best Free Crypto Trading Bots For Binance 2024
As the bitcoin and overall crypto market has grown in popularity, so has the use of bitcoin and crypto trading bots. These are software tools that interface with bitcoin and other crypto exchanges to evaluate trade data and then make buy and sell orders on the user's behalf. To monitor market activity, the bots follow a set of established and pre-programmed rules.
Our specialists at Traders Union will present basic knowledge on all of the numerous crypto trading bots available on the market, with a focus on Binance.
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Best Crypto Trading Bots Comparison 2024
Our experts at Traders Union have compiled a rating of ten crypto trading bots that are compatible with Binance and boast free or freemium options. Our top picks include Pionex, CryptoHopper, Coinrule, Reality, Mudrex, TradeSanta, Bitsgap, HaasOnline, 3Commas, and Shrimpy.
| Crypto Bot | Best For | Trading idea | Is it Free? |
|---|---|---|---|
Pionex |
Beginners |
Multiple |
Free, but does have a 0.05% trading fee |
CryptoHopper |
Extensive Tools |
Multiple |
Free |
TradeSanta |
All-in-One Interface |
Trading strategy automation |
Free trial, plans start at $14 per month |
Coinrule |
Non-Developers |
Multiple |
Free |
Trality |
Customization |
On-balance volume and multiple moving averages |
Free |
Mudrex |
Building Trading Strategies |
Multiple |
Free version and free trial for premium version starting at $5 per month |
Bitsgap |
Signal Quality |
Multiple moving averages, other trading ideas |
Free 2-week trial, multiple pricing monthly plans |
HaasOnline |
Advanced Traders |
Spot, margin, and leverage trading |
No fiat costs, BTC one-time fees range from 0.047 to 0.135 BTC |
3Commas |
Dollar Cost Averaging |
Dollar cost averaging |
Free trial, packages range from $22 to $75 per month with discounts available |
Shrimpy |
Portfolio Management |
Multiple |
Free, premium version available |
Pionex - Best Crypto Trading Bot for Beginners
Cost: Free, but does have a 0.05% trading fee
Trading idea(s): Multiple
Suitable for: Beginners
Try Pionex NowPionex is a cryptocurrency exchange with sixteen free trading bots built in, making it simple for newcomers to get started. Instead of wasting time figuring out how to connect a trading bot to your crypto exchange, Pionex makes it simple. Pionex's trading costs are exceptionally low, at only 0.05 percent each deal, and the exchange has a lot of liquidity that it pools from many other exchanges. Pionex is a good alternative for individuals who are new to trading bots because it is simple to use and completely free.
Pionex auto trading
Users of Pionex’s trading bots can enjoy many benefits, including free account opening, a user-friendly interface, sixteen built-in bots, a low 0.05% trading fee, ease of mind knowing the Pionex was graned a MSB license by FinCEN, liquidity close to Binance’s ticker price, over 120 different coins to trade, and spot trading.
CryptoHopper – Best Crypto Trading Bot for Extensive Tools
Cost: Free
Trading idea(s): Multiple
Suitable for: Beginners and advanced users
Try CryptoHopper NowCryptoHopper is a popular and user-friendly cryptocurrency trading bot designer. It has a comprehensive training section for newbies, paper trading, trailing stop-loss, backtesting, a strategy creator, and a signaler dashboard, among other features.
Cryptohopper Automated Trading
Over 130 indicators are available in CryptoHopper, making it simple to customise your own trading strategy while learning at the same time. You may also purchase proven trading templates and unique methods from expert traders directly from the CryptoHopper site. The cloud-powered trading bot supported 12 different exchanges last time we looked, but the list is always growing, so it may be longer by the time you start using it.
Keep in mind that CryptoHopper isn't only for newbies – it also has a robust marketplace for experienced traders to use. There are many of free and paid signals to pick from on the market. If you're a seasoned trader, the ability to combine various signals with CryptoHopper's technical indicators allows you to create incredibly complex and unique trading strategies.
TradeSanta – Best Crypto Trading Bot for an All-in-One Interface
Cost: Free trial, plans start at $14 per month
Trading idea(s): Trading strategy automation (customizable)
Suitable for: Beginners and advanced users
Try TradeSanta NowTradeSanta is one of the greatest crypto trading bots available, allowing you to easily control your risk. This program lets you select the approach that best matches your trading style. It allows you to establish your profit objective and close the trade at the appropriate time.
TradeSanta Automated Trading
Coinrule – Best Crypto Trading Bot for Non-Developers
Cost: Free
Trading idea(s): Multiple
Suitable for: Beginners, non-developers
Coinrule is an automated trading tool for Binance and other cryptocurrency exchanges. A hundred trading strategy templates are available in this program. Coinrule provides real-time customer assistance, the opportunity to verify rule performance on historical data, the option to create custom trading rules, a market indicator that makes it simple to deploy money, top-notch encryption, and trading 24 hours a day, seven days a week.
Coinrule Automated Trading
Trality – Best Crypto Trading Bot for Customization
Cost: Free
Trading idea(s): On-balance volume and multiple moving averages
Suitable for: Beginners and advanced users.
Trality is a platform for those who wish to make money from algorithmic crypto trading without quitting their day jobs. They provide cutting-edge tools for developing incredibly complex, highly creative algorithms inside an instructional, community-driven framework that encourages trader learning and growth. Users can enjoy buying and selling crypto in a single dashboard, 24-hour trading, copy trading, coin ratio balancing, margin trading, backtesting, signals, and so much more.
Trality Automated Trading
Mudrex – Best Crypto Trading Bot for Building Trading Strategies
Cost: Free version and free trial for premium version starting at $5 per month
Trading idea(s): Multiple
Suitable for: Advanced users
In only a few clicks, Mudrex allows you to invest in automated crypto algorithms built by the top crypto trading specialists. Mudrex users may use a sophisticated trading strategy builder to create their own automated trading bot. There's no need to know how to code! Each algorithm bundle is a collection of techniques and technical indicators that have been designed to function together.
Mudrex Automated Trading
You may use the platform for free and only pay a small charge should you decide to invest in an algorithm. You may also put your money into thematic crypto baskets, which are collections of crypto assets based on a theme and aim for long-term gains. Mudrex is a very user-friendly platform with over 35,000 active investors all around the world. Use API keys to connect to your favorite exchanges, or trade using the Mudrex wallet.
Bitsgap – Best Crypto Trading Bot for Signal Quality
Cost: Free 2-week trial, multiple pricing monthly plans
Trading idea(s): Multiple moving averages, other customizable trading ideas
Suitable for: Advanced users
Bitsgap is a top bitcoin trading bot that allows you to easily manage your crypto holdings. This program analyzes over 10,000 crypto pairings and finds the currency with the shortest potential. With a few simple taps, you can construct your bot strategy with ease. Bitsgap may be a bit too advanced for newbie traders, so keep that in mind.
Bitsgap Automated Trading
HaasOnline – Best Crypto Trading Bot for Advanced Traders
Cost: No fiat costs, but there is a one-time Bitcoin fee that ranges from 0.047 to 0.135 BTC
Trading idea(s): Spot, margin, and leverage trading
Suitable for: Advanced users
Haasonline is an underrated crypto trading platform with over 16 bots to choose from. It has more than 50 technical indications, insurances, and safety features that may be utilized to build complicated strategies. It provides C#-based customizable script bots, and users can connect backtesting with Discord and Telegram applications.
HaasOnline Trading Bot
3Commas – Best Crypto Trading Bot for Dollar Cost Averaging
Cost: Free trial, packages range from $22 to $75 per month with discounts available
Trading idea(s): Dollar-cost averaging
Suitable for: Beginners and advanced users
3Commas is a cryptocurrency trading bot that helps you improve profits while lowering losses and risks. This program allows you to make money with little effort. It allows you to build a strategy using more than 20 trading indicators. 3Commas allows you to sell and purchase coins in one window, trade 24 hours a day, and duplicate the settings of other bots.
3Commas Bot
Shrimpy – Best Crypto Trading Bot for Portfolio Management
Cost: Free, premium version available
Trading idea(s): Multiple
Suitable for: Beginners, advanced users, passive investors
Shrimpy is a crypto social trading platform. This program features automatic trading algorithms that can help you increase your performance and lower your risk. It is intended to assist traders in developing portfolio strategies, tracking performance, and keeping an eye on the market.
Shrimpy Platform
Shrimpy may help you manage your portfolio more efficiently and allow you to see the current market price when day trading. This is an excellent bot to consider if portfolio management is something you are working on.
What is A Crypto Bot?
A cryptocurrency trading bot is a type of application or software that automates buys, sells, and trades in the crypto market. An investor will set parameters and limits for their bots before deploying them, essentially allowing the bot to take on trading processes for them.
Cryptocurrency bots come in a variety of shapes and sizes. The arbitrage bot is one of the most common varieties. Arbitrage bots are software that compares prices across exchanges and trades to profit from price differences. Bots that can move quickly enough can defeat exchanges that are slow to update their values, because the price of a cryptocurrency like Bitcoin or Ethereum varies slightly from exchange to exchange.
Other bots utilize previous price data to test trading techniques, giving investors an advantage in theory. Other bots, on the other hand, are designed to make transactions in response to certain cues, such as price or trading volume.
To help with bitcoin trading, investors may sign up for free bot programs. Many bots, on the other hand, have user fees, some of which might be extremely high. Typically, investors look for the bot or bots that will be most valuable to them, then request the code from a developer or provider. In terms of software and hardware, each bot has its own set of needs.
Pros of Crypto Bots
There are so many benefits to using crypto trading bots, including the following:
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Crypto trading bots have made cryptocurrency trading more efficient because to their multitasking capabilities, while also giving investors with abundant opportunity and data analysis to make wise judgments at critical times.
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Investors are people who experience a variety of emotions in relation to the bitcoin market. Because bitcoin trading is such a volatile business, dealing with emotional attachments is extremely perilous. As a result, one of the advantages of crypto trading bots is that they are devoid of emotional attachment-- an automated machine-centric procedure designed to prevent significant repercussions.
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The bitcoin market is quite difficult for novice investors to understand. They struggle to comprehend complex charts, data analysis, price analysis, and a variety of other topics. However, with automation, crypto trading bots may turn a hard investing process into a simple one. This is one of the most significant advantages of employing crypto trading bots.
Cons of Crypto Bots
No crypto trading tool is perfect, and that applies to crypto trading bots as well. Here are a few disadvantages:
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Unexpected decisions can be an issue with bots. Crypto trading bots are capable of operating 24 hours a day, 7 days a week, and 365 days a year. However, this is one of the disadvantages of crypto trading bots-- they make unanticipated decisions on behalf of investors, resulting in a tiny profit or loss, depending on cryptocurrency values.
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While the feature of automating jobs can save time, setting up the entire process of adopting crypto trading bots is a time-consuming procedure for learning to operate the tools properly and without making any mistakes.
How Do Crypto Bots Work?
Access to the wallet and exchange you wish it to trade on is required for automated crypto trading bots. This entails using the bot's API key to connect it to your preferred platform. Crypto trading bots use market performance and the possible risk of a trade to make judgments. Unless you instruct it differently, it will execute on low-risk transactions and avoid high-risk choices.
The majority of crypto trading bots have similar features, such as market data analysis. This bot's module will save and evaluate raw market data from various sources. It will determine whether to purchase or sell a certain bitcoin asset on the other hand. To generate more precise findings, several bots let users to specify which sorts of data go into the signal generating sector.
A bot will utilize market data to determine the possible risk in the market when it comes to market risk prediction. The bot will select how much to invest or trade based on the data. It's perhaps the most important feature of a cryptocurrency trading bot. When it comes to purchasing and selling crypto assets, a bot makes strategic purchases or sales using APIs. You might wish to avoid buying tokens in bulk on occasion. Some scenarios, on the other hand, necessitate rapid purchasing. Such issues are handled by the Execution module. Maybe, you also can be interested in information how to trade crypto with a bot.
How to Install a Bitcoin Trading Bot on Binance?
To install a trading bot on Binance for crypto trading, follow these simple steps:
Make a key for your API. Go to your Binance account and log in. Select API Management from the drop-down menu at the upper right of your screen. Give your new bot a name and click Create on the following screen. Your 2-factor authentication will be activated as a result of this. Binance will send you an email to confirm your want to establish a new bot when you submit your code. You will be brought to the API Management page after clicking the link that was emailed to you. Your API Key and Secret Key may both be found here. Leave the default options in place. Make a note of where you'll keep your secret key. Allowing the bot to extract funds is not a good idea.
Link your bot to the internet. Select Exchanges from the sidebar menu after logging in to your bot provider account. Select Binance as your exchange on the following screen, and copy and paste your API key and secret key into the appropriate areas. Connect by clicking the Connect button.
Make your own set of rules. You'll need to set up the specifications for how your bot trades now that it has access to your exchange account. These are referred to as rules. These guidelines will differ based on the bot and service provider you employ. You can make your own rules and adapt them to your heart's content if you feel capable. Your trading style, approach, and needs should all be reflected in your rules.
Go live with it. Give your rule a name and specify how many times it should execute. At the bottom right of the page, click Launch. A pop-up will appear with a summary of your rule. Click Launch Live if everything appears fine.
Benefits of Binance for Trading Crypto Bots
You may use Binance crypto trading bots to automate the trading of Bitcoin, Ethereum, BNB, and other currencies. Binance is a simple to use exchange that is appropriate for both novice and experienced traders. On Binance, there are a variety of crypto trading bots that may help you automate your cryptocurrency trading. The majority of these trading bots will purchase and sell cryptocurrency on a basic basis, but they will be configurable as well. Trading will be much easier with customized bots that place orders based on your preferences.
Because it is compatible with so many bots, Binance is an excellent platform for utilizing them. Binance exchange, on the other hand, boasts no deposit fees, minimal fees, only 0.1% commission per trade with potential for discounts with BNB, a large number of crypto coin possibilities, and a slew of additional crypto trading advantages.
How to Reduce My Costs
A great way to reduce the costs associated with using Binance and algorithmic trading bots is to use a rebate program. Luckily, Traders Union and Binance have partnered to make this a possibility.
With a partial commission compensation from the Traders Union rebate program, you can lower your bitcoin trading expenses. On the Traders Union website, you can easily register for free. You can then use Traders Union's affiliate link to open an active Binance account and save money on commissions. Essentially, for each transaction completed, Binance pays Traders Union 20% of the commission fee. Traders Union then pays 80% of that 20% to its clients, meaning you.
Consider the following scenario. On the Binance platform, you may trade and pay a normal fee of $20 for each trade you make. Binance then returns 20% of this commission to the Traders Union, and the customer (you) receives the remaining 80% from the Traders Union: $3.20 = 20x0.2x0.8. This is the amount of compensation that the Traders Union would provide to the trader.
Summary
Day traders and casual traders alike might benefit from cryptocurrency trading bots. A cryptocurrency trading bot is a sort of software or program that automates bitcoin buys, sells, and trades. Before installing a bot, an investor will specify settings and constraints for it, basically allowing the bot to do trading tasks for them. Market data analysis is a trait shared by the majority of crypto trading bots. The raw market data from multiple sources will be saved and analyzed by this bot's module. On the other side, it will determine whether to buy or sell a specific bitcoin asset. Several bots let users to define which types of data go into the signal generation sector, allowing for more precise results.
There are several advantages to adopting crypto trading bots, including increased efficiency, the elimination of human emotions, faster exchange rates, and day trading automation. However, it's vital to remember that a trading bot isn't a complete substitute for a skilled and knowledgeable human trader.
Not all crypto trading bots are equally useful or trustworthy, especially when it comes to free bots. Traders Union's experts’ top picks for free (or close to free) crypto trading bots include Pionex, CryptoHopper, Coinrule, Reality, Mudrex, TradeSanta, Bitsgap, HaasOnline, 3Commas, and Shrimpy.
FAQs
Which crypto trading bot is the best to use?
There are tons of different trading bots out there to choose from. The finest trading bot is one that is tailored to your own trading preferences and style. You should examine user reviews, usability, security features, customer service, profit-making potential, and pricing when picking a trading bot.
Coinrule, Cryptohopper, and Pionex are three well-known trading bots. Any of the crypto trading bots for Binance recommended in this tutorial, however, will be suitable for trading on Binance. Just be sure to pick a trading bot that matches your trading style. Experimenting with and testing different trading bots may be advantageous for success.
How can I start automating crypto trading on Binance and other crypto exchanges?
Consider utilizing a bitcoin or crypto trading bot to automate your trading in the often unpredictable cryptocurrency market. Because there are so many alternatives, it's critical to pick a trading bot that fits your trading style.
A bitcoin trading bot operates 24 hours a day, 7 days a week, executing transactions on your behalf based on pertinent patterns and data. Using a bot can also assist to mitigate the risks associated with emotional trading. If you opt to use a bot to automate bitcoin trading, keep in mind that it will need to be monitored. You should also learn how to utilize your selected bot and how to minimize any security concerns that come with it. To put it simply, a crypto trading bot isn’t a quick fix for passive trading. And bots are not a replacement for the skill, knowledge, and quick thinking of an actual human trader.
Is it possible to create my own crypto trading bot?
Absolutely. However, this would require some development know-how and possibly a team of professionals, depending on your use cases for using trading bots.
You'll need an individual or team of expert developers and traders to build a crypto trading bot. Javascript and Python are popular programming languages for crypto trading bots. Make a list of all the exchanges you want your crypto trading bot to work with (such as Binance) and then register accounts on each of them. Choose your bot's trading strategy and the sort of data you want it to use, such as historical patterns or market research.
To bring your crypto trading bot to life, you'll need to collaborate closely with a development team or individual coder. After you've finished writing, you'll need to test your bot before putting it to use. This will entail verifying that the bot functions properly and that there are no bugs. You can fine-tune its performance and adjust the parameters after you're confident it works. We recommend using a demo account, which is offered by Binance, to conduct your testing without risking your capital.
Do crypto trading bots actually work for day traders?
Crypto trading bots absolutely work. However, they suit certain use cases for day traders that do not necessarily replace the work of a human trader.
Consider the fact that algorithmic trading has been used by Wall Street businesses for years. In reality, algorithmic trading bots have surpassed the whole financial industry in the last decade, with algorithms now accounting for the majority of Wall Street trading activity. So the question isn't whether or whether they function, but how well they work. And the performance of your bots is primarily determined by a variety of things, including the platform and bots you use, as well as your level of competence and experience.
Crypto trading bots, on the other hand, aren't a certain way to make money. They're automated, but they're not fully automated. To trade effectively, traders must recognize that building a decent bot requires defined goals, time, expertise, and a certain level of trust, which is why one-size-fits-all bots from unknown sources should be avoided.
Team that worked on the article
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!
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.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
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.