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Compare cryptocurrency trading bots

Your guide to the benefits and risks of automating your crypto trading.

Cryptocurrency markets are famous for their volatility, which presents a lot of opportunities. Crypto trading bots are designed to leverage these opportunities better than a human could alone.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

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Let’s take a look at what cryptocurrency trading bots can do, what they cannot do, and what to consider if you’re thinking of using one.

Compare some of the world’s most popular crypto trading bots side by side so you can see the differences and find the one that’s best for you.

Want to keep it simple? You could try a preprogrammed crypto bot

Name Product Integrations Software Price
GunBot Cryptocurrency Trading Bot
GunBot Cryptocurrency Trading Bot
Binance,Bitfinex,Bittrex,CEX.io,Coinbase Pro,Cryptopia,GDAX,Kraken,KuCoin,Poloniex,TradingView
Windows
macOS
Linux
Starting from 0.1 BTC lifetime license
Key features:
  • 32 different trading strategies included
  • Build your own bot with more than 120 different settings
Cryptohopper Cryptocurrency Trading Bot
Cryptohopper Cryptocurrency Trading Bot
Binance,Binance.US,Bitfinex,Bittrex,Bitvavo,Bybit,Coinbase Advanced,Coinbase Pro,Crypto.com,Exmo,HitBTC,Huobi,Kraken,KuCoin,OKX,One Trading,Poloniex
Cloud
Subscription. Free plan available.
Key features:
  • Build your own strategy and bot with more than 130 indicators and candlestick patterns.
  • Find a wide range of free and paid bots and strategies in the Cryptohopper marketplace.
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Want more advanced options? You could try building your own cryptocurrency trading bot

Name Product Integrations Software Price
ProfitTrailer Cryptocurrency Trading Bot
ProfitTrailer Cryptocurrency Trading Bot
Binance,Bittrex,Huobi,KuCoin,Poloniex
Windows
macOS
Linux
Starting from €39/month
Key features:
  • Build your own bot by combining a range of strategies and indicators.
  • Program your bot to respond to your own TradingView signals or subscribe to a select range of external signals.
margin Cryptocurrency Trading Bot
margin Cryptocurrency Trading Bot
Binance,Bitfinex,Bitstamp,Bittrex,Bleutrade,Coinbase Pro,HitBTC,Huobi,Kraken,OKcoin,Poloniex
Windows
masOS
Linux
Raspberry Pi
Starting from US$89 lifetime license
Key features:
  • Quickly and easily create deeply customisable bots, and visualise their strategies with the margin graphic user interface.
  • Turn your computer into a fully-fledged trading terminal for manual or bot trading, with multi-screen trading, news feeds and more.
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How cryptocurrency trading bots work

Trading bots are computer programs that log in to cryptocurrency exchanges and automatically make trades on your behalf.

How good they are depends on how they’re programmed and how suitable their programming is to current market conditions.

There are many different kinds of bots to suit different market conditions and individual needs. Different types of bots are known as different strategies.

For example, scalping is a strategy for making small but consistent profits in a sideways market. A scalping bot would be designed to automatically place the trades required to shave those profits out of the market. Scalping could be the right strategy for a sideways market, but wouldn’t be ideal in a more bullish or bearish situation.

So the first challenge is to know which kind of strategy to use at different times. The second challenge is to find a bot which can effectively execute that strategy based on market activity and signals.

What are signals?

Picture not describedQuestions you might haveIn crypto trading bot terminology, signals are like alarms. For example, someone might craft a signal based on a combination of factors like moving averages, volatility and social media mentions, and when those factors move in a way that’s believed to indicate a good time to trade, the alarm is triggered.

Trading bots can be programmed to automatically respond in specific ways to these signals. You can create your own signals or use a third party’s signals. And just like bots themselves, some signals are more consistently accurate, while others are more error-prone.

How to get and use a cryptocurrency trading bot

There are two different ways of getting and using a crypto trading bot.

You can either use a preprogrammed one, or build your own.

?️ Build your own

These are bots that you create. You decide which signals the bot will read and which trading actions it takes in response.

Once you’ve created a bot, the next step is usually to backtest or paper trade with the bot against actual market movements, to see how it fares in real-world conditions before you entrust it with real money.

Building your own bots will always require some trading experience, but it won’t necessarily require any technical experience. On the easier end of the scale you can build you own bots with simple and intuitive graphical user interfaces. On the harder end of the scale you’ll need to have enough programming know-how to code your bot.

All platforms will let you build and customize your own bots to a certain extent, although the number of tools they provide for doing so will vary between platforms.

Compare bots you can build

? Use a preprogrammed bot

The other option is to use a bot that someone else has built. These will often be purchasable from the creators, and some platforms include bot marketplaces for people to buy and sell preprogrammed bots.

Other platforms will include a range of their own preprogrammed options, which are included as part of the subscription package.

In many cases bots will only be partly preprogrammed, meaning you won’t be able to trade with them directly out of the box, but will instead need to customize and adjust them

You’ll still need to know which kind of strategy is best to use in a given situation, and can often choose which signals to feed it, but will be able to use those preprogrammed bots to execute those strategies rather than needing to build your own.

Copy trade features, such as is found on a platform like eToro, is an example of a trading bot. In this case the bots just automatically mimics other traders. Some platforms will also let you use copy trade bots to get the same functionality on other exchanges.

Compare preprogrammed bots

Choosing a cryptocurrency trading bot in 7 steps

When comparing crypto trading bots, make sure you consider the following 7 factors at least:

  • Trading strategy. What strategy or strategies can the bot implement? What sort of market data and technical indicators can it analyze and what parameters can you program in?
  • Ease of use. Some bots have preprogrammed strategies set up and ready to go while others allow you to program them however you want so you can implement your own strategy. The right platform for you may depend on your level of trading and coding knowledge, so make sure any program you choose is easy to understand and use.
  • How to make changes. How easy is it to adjust your trading strategy and parameters? Is the bot designed to automatically rebalance your portfolio on a regular basis, or is it up to you to make adjustments as you see fit?
  • Cost. Some bots don’t charge trading fees but many do. Compare the cost of different options and make sure you know exactly what you’re paying for.
  • Longevity. How long has the bot been around? Is it a new program or does it have a long history of successful use?
  • Reputation. Does the bot have a good reputation among the wider crypto community? Check online forums for reviews from other users to see if the bot is legit and if they’d recommend using it.
  • Exchanges. While most reputable bots will work with most reputable exchanges, make sure any program you choose will allow you to trade on the exchange(s) you want to use.

Compare cryptocurrency trading bots Learn more

Benefits of cryptocurrency trading bots

Crypto bots can offer a number of advantages over manual trading.

  • 24/7 trading. Unlike stock exchanges with their regular trading hours, global crypto markets are open 24/7. Humans have to sleep eventually, but a bot can keep trading 24/7. With cloud-based trading bots your computer won’t even need to be on for the bot to keep working.
  • Fast execution. Cryptocurrency markets can shift extremely quickly, and some opportunities last only seconds. Bots can automatically process and act on information that humans can’t.
  • Reduced human error. Manually entering trade details yourself always introduces the risk of human error. By automating trade execution via a bot, this risk is reduced. Just make sure you don’t make any mistakes while setting up the bot.
  • Take the emotion out of trading. Effective trading is about having a plan and sticking to it, rather than running with gut feelings. Crypto trading bots take emotion out of the equation and react to pure data only.
  • Ability to diversify. Using a bot can allow you to trade across numerous accounts or try out various trading strategies. This can help you spread risk across a variety of crypto assets.
  • Backtesting. Want to test a trading idea? Use a bot to backtest, which is where you test your strategy using historical market data to see how it would have worked. You can also paper trade, which is when you use a bot to trade pretend money against the markets of today.

Risks of using crypto trading bots

Bots are not free money machines, and they’re not without some risks and downsides.

  • Scams. Scams are an ongoing problem in the crypto trading bot space. It’s essential that you thoroughly research any bot before use to help safeguard your funds against scammers. For example, if you come across a bot that promises guaranteed substantial gains, this should sound alarm bells.
  • Setting and forgetting. There’s a common misconception that once set up, a bot can simply be left to do all the hard work for you and make money while you sleep. This isn’t the case. Rather than being passive income generators, crypto trading bots need ongoing monitoring and adjusting as market conditions change.
  • Poor quality software. The quality of software varies from one bot to the next and using a poorly coded bot could cause you to lose money. That’s why you need to look for a reputable bot with a proven track record of success.
  • Bad strategies. The crypto market is constantly evolving and trading strategies need to keep adapting to achieve success. If you choose a bot with an outdated or simply inadequate strategy, or match the wrong bot and signals, program it incorrectly or otherwise make mistakes, expect to lose money.
  • Failing to set stop-loss limits. In the event of a flash crash, where the price of a cryptocurrency plummets rapidly, traders that have not set stop-loss limits could potentially suffer heavy losses.
  • Crypto market complexity. There’s only so much that exchange data can tell you about what is happening in the crypto market. From tech developments to the online rumor mill, there are many other factors that can drive price movements.

Popular crypto trading bot strategies

Crypto trading bots can be used to implement a wide range of trading strategies. Some of the most commonly used strategies include:

Arbitrage

Plus minus difference vector

Cryptocurrency arbitrage is a strategy that allows you to take advantage of price differences between crypto exchanges. For example, buying bitcoin on an exchange where the price is low and immediately selling it on an exchange where the price is at a higher level.

Specialist crypto arbitrage bots are designed to track price movements and differences across exchanges and then execute the necessary trades.

Market making

Vector of coins being exchanged

The market making strategy involves continuously buying and selling cryptocurrencies and digital currency derivatives contracts in order to profit from the spread between the buy and sell prices. Market makers earn a profit by providing liquidity to other traders by placing limit orders on both sides of the order book and making their income from price fluctuations.

For example, if Ethereum is trading at $500, you could create a buy order for $499 and a sell order for $501. When both orders are filled, you earn $2 profit.

Trend trading

Vector of trading chart with upward trend

This strategy involves programming a bot to identify the price trends of specific cryptocurrencies and then execute trades based on those trends. By analyzing which way the price of an asset is moving, this strategy is designed to assess when trends are forming and then profit from the resulting price change. In other words, buy when prices are trending upwards and sell when they’re heading down.

Mean reversion

Scale balancing vector

The key underlying principle of the mean reversion strategy is that there is a stable trend in the price of a particular cryptocurrency. So while the price may fluctuate in either direction, it will eventually return to its mean.

Based on this assumption, you can program a bot to execute trades depending on where the price of the currency sits in relation to its historical average.

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Bot trading safety tips

There are some basic rules whenever you use a bot for the first time:

  • Don’t give your bot withdrawal access. In most cases, there’s no need to give a bot permission to withdraw funds from your account, so preventing withdrawal access can be a simple way to protect yourself. Of course, if you’re performing arbitrage trades between exchanges, you will need to grant withdrawal access.
  • Don’t share your API secret. In order to put your bot to work, you’ll need to create an API key and secret on your chosen crypto exchange. API secrets are like crypto wallet private keys. If someone has your API key and secret they can place trades from your account, so never share with anyone.
  • Use two-factor authentication. Enabling two-factor authentication on all exchanges, accounts, wallets and crypto programs can provide an extra layer of protection for your funds. As always, make sure you also set strong passwords.
  • Backtest your strategies. Backtesting allows you to trial your trading strategies using historical data. While there’s no guarantee that a strategy which would have worked in the past will be profitable in the future, it’s worth running some simulations to determine whether it might be worth putting your strategy into use in the real world.
  • Limit your losses. Use tools like stop-loss orders to ensure that losses are minimized when the market moves against you.
  • Develop an understanding of technical analysis. The more advanced trading bots can assess a variety of technical indicators when executing trades, so developing an understanding of cryptocurrency technical analysis could help you get more out of your bot.
  • Don’t over-commit. Bot trading can be quite complicated and may take a while to wrap your head around, so start with small amounts as you build your knowledge and confidence.
  • Track your trades. Finally, don’t forget that your trades will have tax implications, so keeping records of your crypto transactions is essential.

Bottom line

Cryptocurrency trading bots can be an extremely handy tool for traders, but only when used properly. They offer a handful of key advantages, such as being able to constantly interact with the market and taking the emotion out of trading, but they’re certainly not a silver bullet that can guarantee you’ll make a profit.

The many risks associated with crypto trading bots mean the best approach is to proceed with caution. If you know what you’re doing and you’re prepared to constantly monitor performance, trading bots can form an important part of your overall trading strategy. However, going all in and using bots as the be-all and end-all of your crypto trading strategy is not recommended.

Finally, make sure you thoroughly research any bot to be sure of its legitimacy and whether or not it could be a useful trading tool for you.

Compare cryptocurrency trading bots

FAQs

Cryptocurrency trading bots at a glance

1 - 6 of 6
Name Product Integrations Software Price
GunBot Cryptocurrency Trading Bot
GunBot Cryptocurrency Trading Bot
Binance,Bitfinex,Bittrex,CEX.io,Coinbase Pro,Cryptopia,GDAX,Kraken,KuCoin,Poloniex,TradingView
Windows
macOS
Linux
Starting from 0.1 BTC lifetime license
Key features:
  • 32 different trading strategies included
  • Build your own bot with more than 120 different settings
Cryptohopper Cryptocurrency Trading Bot
Cryptohopper Cryptocurrency Trading Bot
Binance,Binance.US,Bitfinex,Bittrex,Bitvavo,Bybit,Coinbase Advanced,Coinbase Pro,Crypto.com,Exmo,HitBTC,Huobi,Kraken,KuCoin,OKX,One Trading,Poloniex
Cloud
Subscription. Free plan available.
Key features:
  • Build your own strategy and bot with more than 130 indicators and candlestick patterns.
  • Find a wide range of free and paid bots and strategies in the Cryptohopper marketplace.
margin Cryptocurrency Trading Bot
margin Cryptocurrency Trading Bot
Binance,Bitfinex,Bitstamp,Bittrex,Bleutrade,Coinbase Pro,HitBTC,Huobi,Kraken,OKcoin,Poloniex
Windows
masOS
Linux
Raspberry Pi
Starting from US$89 lifetime license
Key features:
  • Quickly and easily create deeply customisable bots, and visualise their strategies with the margin graphic user interface.
  • Turn your computer into a fully-fledged trading terminal for manual or bot trading, with multi-screen trading, news feeds and more.
ProfitTrailer Cryptocurrency Trading Bot
ProfitTrailer Cryptocurrency Trading Bot
Binance,Bittrex,Huobi,KuCoin,Poloniex
Windows
macOS
Linux
Starting from €39/month
Key features:
  • Build your own bot by combining a range of strategies and indicators.
  • Program your bot to respond to your own TradingView signals or subscribe to a select range of external signals.
Gekko Cryptocurrency Trading Bot
Gekko Cryptocurrency Trading Bot
Binance,Bitfinex,Bitstamp,BTC Markets,BTCC,GDAX,Gemini,Kraken,Luno,Poloniex,Quadriga
Cloud
Windows
macOS
Linux
Free
Key features:
  • Set up automatic Bitcoin trading strategies on 16 different exchanges on this 100% free and open source framework.
  • Bear in mind Gekko is Bitcoin only and javascript knowledge required.
Zenbot Cryptocurrency Trading Bot
Zenbot Cryptocurrency Trading Bot
Bitfinex,Bitstamp,Bittrex,CEX.io,GDAX,Gemini,Kraken,Poloniex,Quadriga
Open source
Free
Key features:
  • A 100% free and open source framework for creating your own automatically-executing trading strategies.
  • Use at your own risk.
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Name Product Deposit methods Fiat Currencies Cryptocurrencies Offer Disclaimer Link
eToro Cryptocurrency Trading
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, Skrill
EUR, GBP, NZD, USD, AUD, HKD, SGD, CHF, NOK & 5+ more

78
cryptocurrencies

Disclaimer: Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.

Capital at risk

View details
Binance Cryptocurrency Exchange (Not available to US users)
Bank transfer, Cryptocurrency
-

369
cryptocurrencies

Capital at risk

View details
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, P2P
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND

743
cryptocurrencies

Capital at risk

View details
Bybit Cryptocurrency Exchange
Bybit Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P
USD, AUD, CAD, EUR, GBP, NZD, HKD, JPY, SGD, PHP

279
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.

Capital at risk

View details
Gate.io Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card

1607
cryptocurrencies

Capital at risk

View details
Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT
USD, EUR, CAD, GBP, CHF, AUD

222
cryptocurrencies

Capital at risk

View details
OKX Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP

338
cryptocurrencies

Capital at risk

View details
Uphold
Uphold
Bank transfer (ACH), Credit card, Debit card, Apple Pay, Google Pay
USD, GBP, AUD, EUR, CAD, CNY, JPY, SGD, INR, NZD

237
cryptocurrencies

Capital at risk

View details
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Debit card, Neteller
EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more

357
cryptocurrencies

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.

Capital at risk

View details
Finder Award
Bitstamp Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, SEPA, Faster Payments (FPS)
USD, EUR, GBP

79
cryptocurrencies

Capital at risk

View details
Coinmama Cryptocurrency Marketplace
Credit card, Fedwire, SEPA, Google Pay, SWIFT, Bank card
USD, EUR, AUD, CAD, GBP, JPY

16
cryptocurrencies

Capital at risk

View details
OFFER
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Cryptocurrency, Debit card, PayPal, Apple Pay, Google Pay, SWIFT
USD, AUD, CAD, EUR, GBP, SGD, HKD, COP

141
cryptocurrencies

Capital at risk

View details
Finder Award
Crypto.com App
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, Wire transfer, Apple Pay, Google Pay, SWIFT
USD, EUR, GBP, COP, CHF, HKD, SGD, AUD, CAD, KRW, SEK, CNY, TRY, RON, JPY, NOK, MYR, BRL, DKK, ZAR, BGN, THB, INR, TWD, PHP, IDR, MOP, MDL, SAR, MXN, CLP

318
cryptocurrencies

Capital at risk

View details
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Bybit Cryptocurrency Exchange

Bybit Cryptocurrency Exchange logo
  • Offers leverage and derivative trading
  • Supports EUR, GBP and CHF
  • Licensed to operate in all European countries
Go to site
Disclaimer: Highly volatile investment product. Your capital is at risk.

Kraken Cryptocurrency Exchange

Kraken Cryptocurrency Exchange logo
  • Large selection of cryptocurrencies
  • Low fees for active traders
  • Pleasant UI for new traders
Go to site

KuCoin Cryptocurrency Exchange

KuCoin Cryptocurrency Exchange logo
  • Buy, sell and trade over 700 crypto assets
  • Supports 10 Asian fiat currencies
  • Offers crypto futures trading
Go to site

Kraken Cryptocurrency Exchange

Kraken Cryptocurrency Exchange logo
  • Buy, sell and trade over 200 crypto assets
  • Licensed to operate in 17 jurisdictions in Oceania
  • Supports AUD
Go to site

Binance Cryptocurrency Exchange (Not available to US users)

Binance Cryptocurrency Exchange (Not available to US users) logo
  • Supports over 300 crypto assets
  • Binance Pay enables users spend their crypto
  • Binance P2P supports multiple African fiat currencies
Go to site

Binance Cryptocurrency Exchange (Not available to US users)

Binance Cryptocurrency Exchange (Not available to US users) logo
  • Supports over 300 crypto assets
  • Binance Pay works with Credencial Payments to support crypto payments
  • Binance P2P supports five Latin American fiat currencies
Go to site

Bybit Cryptocurrency Exchange

Bybit Cryptocurrency Exchange logo
  • Supports leverage and derivative trading
  • Supports 300 spot trading pairs
  • Low-to-non-existent trading fees
Go to site
Disclaimer: Highly volatile investment product. Your capital is at risk.

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