Crypto Trading Bots – What Are They?
Cryptocurrency trading bots are computer programs that create and submit buy and sell orders to exchanges based on the rules of a pre-defined trading strategy. It is possible, for instance, to program a very simple trading bot to automatically sell Bitcoin when the price of the currency reaches a certain level.
In short, crypto trading bots enable trading based on data and trends—not on emotional impulse. As a result, they are able to increase their profits, minimize their risks, and limit their losses across exchanges. Furthermore, bots are capable of earning passive income 24 hours a day. Even while you sleep, bike, or give a presentation, you can earn from automated trading.
Here, we look at some of the best crypto trading bots in 2022:
Best Overall – GTAI Trading Bot
Coming in first on the list, Galaxy Trading Artificial Intelligence (GTAI) is a world-class AI trading and arbitrage system designed to help crypto traders maximize trading profits while minimizing risk and loss. Galaxy Trading Analytics (GTA), the leading regulated fintech company founded in 2022 by a team of AI and deep learning experts who developed the bot.
They have built a clear and transparent system that conducts trades according to the set parameters and have connected investment tools and financial protection algorithms to it. There are currently 4 proprietary trading and arbitrage strategies implemented, with more trading strategies being developed and added to GTAI as more rigorous testing is conducted.
Traders can choose between two packages, A or B, in their easy-to-use app, where in package A, traders just have to set the limits of the AI bot and let the bot do its job, while traders control 100% of their funds on their crypto Exchange accounts. GTA claims that traders’ estimated monthly profits could range from 2% to 8% depending on crypto market conditions.
Traders can also opt for Package B, where traders get access to a dedicated team that monitors their trading on their behalf and deploys the right strategies according to market movement. There will also be 24/7 active risk management. Package B also grants access to higher leverage using liquidity pools, which means higher and more consistent profits through a more powerful AI bot ranging from 3% to 36% monthly profits. Both options can be selected at the same time, they are suitable for beginner, intermediate or experienced traders and participation starts from as little as $100.
Best For Day Traders (on-prem) – Gunbot
Gunbot isn’t especially easy to use, but it’s full of features—if you’re willing to get over the learning curve. This tool’s price reflects that it’s a tool for very advanced traders, particularly those who are comfortable coding their own scripts. It works differently than most bots: it’s a one-time purchase of a software download.
This means that it’s security depends on you, and also that you can resell the license if you’re not satisfied or stop using it. Gunbot has an active community for support and pre-built scripts.
Best For Day Traders (cloud) – HaasOnline
HaasOnline’s on-prem TradeServer has long been a solid but pricey choice for traders who write their own scripts. However, HaasOnline recently expanded its offerings with the beta release of TradeServer cloud, which gives traders access to its tools 24/7/365 on any compatible device.
What’s more, HaasOnline’s cloud version employs Edge Computing, which means its bots are closer to exchanges’ trade servers, giving this solution lower latency than many competitors.
Best For Python – Trality
What sets Trality apart is its powerful Python API, which lets traders use this familiar language and libraries to develop bots. Its in-browser coding features include intelligent autocomplete and backtesting, debugging, and soon, rebalancing.
This bot has been slower than some others to introduce new features and exchanges, but its easy-to-use Python integration and detailed documentation make complex bot building more transparent.
Best Free Trading Bot – Ichibot
Ichibot is more of a tool than a bot, as it is run completely through the command line interface and won’t make any trading decisions on its own. It’s a trade strategy design platform for those who prefer code over clicks. Users can design complicated trade strategies for Binance and FTX and execute them in real-time to take advantage of market fluctuations.