Crypto trading robots or bots are very popular lately, due to the many advantages they offer to the users. However, that popularity has caused a flood of new ones, and sorting through them all and selecting the best one can be a time-consuming task. To help you with it, we have created a curated list of the best crypto trading bots in 2022 that you can use to make the right choice.
What is A Crypto Trading Bot?
A crypto trading bot is a computer program designed to execute trades on the open market. Bots can be customized to perform trades at certain points in time or take their cues from value shifts. For instance, they can be programmed to execute a trade at a certain time of the day or when the asset value reaches a certain point. Considering that crypto markets are open 24/7, it is easy to see just how advantageous using these bots is. For many crypto traders, bots have become an essential tool, one that they can’t function without.
Trading on a market as volatile as crypto brings forth an enormous set of challenges and risks for any trader. Trading bots can alleviate, if not eliminate, most of them and have become invaluable tools. With them, traders can trade at any time, day or night, without being logged on or even present at their computers. More advanced trading bots come with advanced algorithms that can offer priceless insight into the inner workings of the market and provide helpful hints. Before we take a look at the exact features each trading bot on our list has to offer, let’s first examine what those features are and how they can help you.
Price
Most traders choose a trading bot based on its price. There are many free bots on the market, but most of them are not as functional as paid variants intended for professional traders who don’t mind shelling out a few bucks for them. Fortunately, even paid bots come with free trial periods, so you can test them and see whether they are worth your money.
Social Trading
Social trading is a feature made popular by eToro, one of the world’s biggest crypto exchanges. It allows users to share their trading patterns and strategies in exchange for various perks. Less experienced users can then copy these patterns and try to emulate the same results and more importantly, profits. It is a win-win situation for all parties involved. Veteran traders get various benefits for sharing their successful strategies, beginners get a glimpse at how trades should be executed, and the platform gets praised for its features.
Support
Even the best software occasionally glitches out and when that happens, having a support team to lend a helping hand can be priceless. That is why we included each trading bot’s support in our rating. Modes of communication, accessibility, availability, expertise, and reaction times are all important factors to consider when evaluating a support team and must be taken into account. When things go wrong, and they will, you need to know that help is on the way and that you can extricate yourself from the current predicament without taking too much of a loss.
Tutorials
Most trading platforms have created a library containing a variety of educational materials to help new users learn the ropes. Unfortunately, some have been simply going through the motions and their content is, to put it mildly, unusable. If you have just started your crypto trading career, you will want not just simple videos explaining how to use a trading bot, but tutorials and explanations on other topics as well. That is why the best trading bots have a wealth of information and educational libraries detailing every aspect of crypto trading.
Best Crypto Trading Bots In 2022 – Overview
TeslaCoin – The Best Overall Trading Bot in 2022
CryptoHopper – Best Crypto Trading Bot for Beginners
Coinrule – Excellent Crypto Trading Bot for Creating Strategies
HaasOnline – Best for Advanced Users
Best Crypto Trading Bots In 2022
TeslaCoin – The Best Overall Trading Bot in 2022
TeslaCoin is a crypto trading bot designed for trading bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Cardano (ADA). By using an advanced algorithm, TeslaCoin monitors trends on the market and executes buy or sell orders at the best possible moment. According to the developers, you need to spend just 15 to 20 minutes daily to ensure the proper functioning of the platform. The rest of the time it will work fully autonomously without any supervision, making it ideal for day trading crypto for people who don’t have much time on their hands.
TeslaCoin is a paid application, but it comes with a free trial mode. There are no transaction fees and trades won’t cost you anything, but there is a $250 minimum account deposit. Once you sign up and fund your account, you will get a dedicated account manager to help you with any issues you might encounter. There is no mandatory withdrawal waiting period and you can withdraw your money at any time without waiting. One thing that is missing is a mobile app and hopefully, developers will create one in near future.
CryptoHopper – Best Crypto Trading Bot for Beginners
There are several good reasons why CryptoHopper is one of the most popular crypto trading bots on the market. It is easy to use, comes with a vast library of educational materials and its customer support is superb. Beginners absolutely love it, as it makes even the most complicated features easy to use. Its tutorial section is probably the best we have seen, leaving no stones unturned in trying to explain every facet of using the app and crypto trading to its users.
CryptoHopper is a cloud-based application, so you don’t have to download and install anything on your computer. All operations are performed on the app’s server. It has access to 12 crypto exchanges, with a plan to increase that number. By constantly comparing prices, CryptoHopper ensures that you will get absolutely the best deal possible at any given moment. The app has both free and paid versions. Depending on what level you choose, paid versions will cost you from $19 to $99.
