AI tools getting more sophisticated day by day. As of the end of 2023, they can help you with crypto trade, by analyzing price changes instead of you.
Bots can work 24/7 and manage risk with any strategy that you choose. To ease your choice we gather 10 great choices, so you can pick your own best crypto trading bot.
I gather crucial information about each service without evaluative judgments about the price: what may be considered as cheap for one person, can be overly expensive for another. Each trading crypto bot from this list has a limited free version that allows you to test it before implementing it into your workflow.
The Rise of AI in Cryptocurrency Trading
The use of AI-based tools rapidly evolved. Just in 2020, it was fun and games for geeks, but as of now, many services implement these solutions into their workflow. AI-based tools are no exception. People are looking for the best Bitcoin robot to raise their capital.
As of today, there are dozens of AI services helping people. Trading bots are the most common tools here. Smart algorithms learn from previous data to identify patterns you may miss.
Later, crypto trading bots demonstrate possible investment strategies to implement. You are free to decide whether to run them or not. Some AI tools can adjust to your risk profile, making more or less risky decisions.
An AI crypto bot works 24/7 and doesn’t take a day off. These tools are also prone to human error. They are scalable, so they fit any usage case: from single individual investors to big crypto businesses. So, they slowly but surely will win over traditional tools without machine learning capabilities.
Criteria for Evaluating A Trading Bot
Once you’ve decided to try an AI-based bot, keep in mind the next evaluating criteria. Don’t believe in loud promises, they are often misleading. You should better examine the crypto trading bot for the following criteria:
- Security. Check that the tool has security measures.
- User interface. Look for a tool with a friendly UI. If developers don’t bother about general usability, they don’t give a thing about other, even more vital aspects.
- Success rate. Look for backtesting data and live market performance to find the actual bot success rate.
- Customizability. Pick the tool that you can customize to your needs, including risk variables, trading strategies, and exit criteria.
- Transparency. Choose the tool that is transparent about its algorithms. If developers have something to hide, you better leave the project.
- Support. Make sure that the bot has an active customer team available via mail and popular messengers.
That there is no one-size-fits-all AI crypto trading bot. What could seem extremely expensive for one user can prove to be cheap for another. Thus compare the services below only to your needs and read as many reviews as you possibly can before the final choice.
Don’t perform with large transactions for at least the first few weeks. Try with the small account first to limit your waste if the Bitcoin trading bot does not perform as expected.
3Commas
It’s a platform with risk and portfolio adjustment services. It offers many features, such as take-profit or stop-loss orders, advanced position sizing tools, and rebalancing services.
DCA, Grid, and Futures AI crypto trading bots help you to launch preferred trading strategies at any scale. It has both DCA Short and DCA Long bots to pick. Grid bot notifies you when the chosen token reaches the support level so you can buy it at its lowest price. After this, it notify you once the token achieves a resistance level.
Bitsgap
It is a relatively new, yet popular service for those, who are looking for AI-based crypto trading tools. Here you’ll find algorithmic ordering, risk management, and social trending services in one place.
This crypto trade bot works with 20+ common exchanges. It can help traders to profit from price differences between different services. Users on forums say that DCA and Grid bots show decent permanent results.
Bitsgap automated crypto trading bots are trained to ensure that your strategy is properly aligned with your risk strategy and chosen range. That way you’ll be more likely to get frequent profits on every market move. Sometimes they are smaller, sometimes bigger: but at least there is always some profit.
ArbitrageScanner
It is a crypto arbitrage scanner whose main aim is to help you identify and profit from possible arbitrage opportunities. The AI crypto trading bot monitors the token's prices on 60+ CEXs and 40 DEXs, sending you immediate alerts when they reach a certain condition. It supports more than 20 chains and 10K+ trading pairs and can send you alerts via Telegram.
Many ArbitrageScanner bots have free training where you don’t need to risk your own money. If you are unsure about your skills, subscribe to the Expert pricing, where you’ll get a personal mentor who adjusts the service to suit your needs.
Altrady
It is a suite of crypto trading bots that work with 15+ exchanges simultaneously. The most distinctive bots are Signal Spot, Webhook, and Grid Bot. If you are interested in getting maximum earnings, pick the Take Profit option. To lower losses, set the Stop Loss option, where you can adjust it for suitable risk strategy and limit workflow.
If you are curious about the bot functionality yet not ready to risk your money, there are advanced backtesting tools. You are free to test desired methods for as long as you want. Management and rebalancing tools can help you build a stable portfolio that suits your habits.
CryptoHero
The AI-powered platform where you can develop your custom bot without knowing how to code. It has Android, iOS, and web versions, so you are free to visit it from any device with a stable internet connection.
It has a built-in integration with most common CEXs and DEXs. The back listening feature allows you to test an intriguing yet risky trading strategy. The platform does it in multiple realistic market conditions, so you have a chance to find out future campaign profitability without risking your money.
Pionex
Here you’ll get 16 AI stock trading bots where you can test and run various strategies, such as grid trading, arbitrage, and DCA. The Rebalancing tool is pretty astonishing. it allows you to rebalance your account if you are pretty upbeat about some coins and ready to keep a part of it.
This bot calculates the appropriate token amount to put on hold. Pionex fees are extremely low: just 0.05%.
CryptoHopper
It is an artificial intelligence cryptocurrency trading platform with advanced automation and portfolio tools. It’s an affordable platform for iOS and Android that supports all major exchanges. ChyptoHopper also has many bots for arbitrage,market-maker, and mirror trading.
Pre-set favorable criteria for bots to ensure they notify you when the market meets needed conditions. Real-time performance reports will help you to predict trends before they become obvious. The advanced short-selling feature allows you to mitigate sudden price drop consequences.
CryptoHopper’s social trading platform lets you discuss trends in the built-in chat. If you don’t want any interactions with other people, configure the bot to run using both social trends and algorithms.
Kryll
This tool helps you to automate trading and manage risks more efficiently. You can set up the bot to send notifications or let it trade round-the-clock.
Kryll has its own marketplace and portfolio management service. You are free to choose from 280+ strategies or can make your unique trading scenario. Built-in crypto builder helps you generate custom scripts even if you don’t know how to code.
Their bots analyze markets with common and advanced indicators, so this Kryll suits both beginner and advanced traders. If you are unsure about your strategy, you can ask experienced users about it on the Marketplace. Here they provide a custom trading plan for a fee.
HaasOnline
One of the oldest and best automated crypto trading platforms to ease your work. It has more than 15 pre-made script bots to run simultaneously.
You can make your bot, by adjusting it to 50+ indicators in the Visual Editor tool. Simply drag and drop the needed solutions to build your crypto algorithms.
It also has its affiliate referral program, where you can earn some spare crypto for inviting your friends or colleagues. It can be complex and expensive for new traders. However, if you are an experienced trader with a relatively high trading volume, it is one of the best tools for you.
CryptoSanta
It is an advanced crypto trading platform that allows users to launch custom bots without coding. TradeSanta offers plenty of trading methods, including grid and signal trading.
TradeSanta's visual editor facilitates developing and deployment processes. Social trading tools allow you to copy trades of more successful traders, so you may try their trading approaches personally.
It doesn’t have heavy limits on trading volume, so you can trade large amounts of tokens wherever needed. The main drawback of TradeSanta is that it can be too complex for beginners.
How to Choose the Best AI Trading Bot for Your Needs
As I said before, there is no one-for-all tool, so you need to consider your own needs while evaluating services. Here are 6 crucial factors:
- Trading style. How do you like to trade? Do you like to scalp, swing, or risk it all? Each bot has a slightly different trading style.
- Risk appetite. Some bots are more aggressive than rivals. Consider your willingness to risk and lose and pick a bot that aligns with your risk tolerance.
- Budget. Almost any bot from this list has a free version. But they unlock their true colors in paid options. Pick the one that suits your current budget. You can change the bot to a more expensive version wherever you want.
- Features. Answer yourself on what features are important to you. Some AI bots have more features, while others stick to basics.
- Exchange compatibility. Check that your preferred bot is compatible with your wallet and exchanges.
- Reputation. Ensure that the chosen bot has good reviews from users. YouTube blogs are fine too, but it can be just an ad. So do a deep research and look for genuine comments.
Many tools have free trials. Don’t be afraid to test them: you can always cancel your trial membership before the payment date.
Risks and Rewards of Using AI Trading Bots
While trading, these tools can be handy to help you earn money on market volatility, they can become too risky to use. Remember, that they are still not perfect. They can make mistakes as they can’t predict market movements accurately. There is always a human factor in price fluctuations.
Just recall how Elon Musk-related scandals dropped the price of Dogecoin. No AI service can predict it. So, don’t trust these tools with your whole strategy.
Most AI tools are centralized, as they have a learning resource. And this resource can be hacked, which may lead to compromising your data. Some bots are not so transparent about their strategies, so you can’t access the whole risks in from of you. Beware of it.
At the same time, in proper hands, AI-based bots can become a beneficial tool for traders and investors. They can partially or fully automate your trading, adjusting your strategy to fit your risk strategy. They can show you new ways of asset diversification by providing new training strategies in your workflow.
AI tools can help you to stay disciplined and to avoid making emotional actions. Many bots allow you to backtest preffered strategies before deploying them on a live account. It will reduce your risk while helping you stay profitable under any circumstances.
The Future of AI-Powered Crypto Trading
AI is rapidly transforming our world, including finance and even the blockchain industry. AI bots will ease your trading and help you earn more money.
I think that this technology will be gradually evolving, becoming more and more common.Just like a crypto bridges. There will be no huge usage spikes, as users are still afraid of new technology. However, after a few years, most traders will use AI-based tools in some parts of their workflow.
So, if you want to become better than your rivals, you should adopt this technology among the firsts. It will be your competitive advantage as you can implement risky arbitrage strategies, even if you are a newbie. AI tools also can show you how to lower risks if you don’t want to lose even a penny.
I think that over time, AI-powered bots will become even more sophisticated and distinctive from each other. As they gather more data, their specific trading character will become even more unique. They also will become more profitable, as they’ll get more data.
It may even lead to the broader crypto adoption. However, I still recommend you to use these tools as assistance, but don’t fully rely on them.
Wrapping Up: You Are Free To Choose AI Stock Trading Bot For Your Needs
AI-powered trading bots are becoming more and more popular, and for good reason. They will help traders automate their work, leaving more time for more pleasant things. However, it's important to do your research before trying any third-party tool. There is no best Bitcoin bot for everyone: what may seem a perfect choice for one trader, could hold a little of potential for another.
Remember that no bot is perfect. They can’t predict the unexpected. So, you should always keep an eye on your trades. If you are interested in other instruments that can boost your crypto journey, subscribe to Defiway’s Twitter, so you don’t miss our new articles!
