Making profits from the highly volatile cryptocurrency market is all about timing and access to sound trading strategies and technical analysis. With hundreds of assets to choose from and markets open 24/7, the learning curve for new crypto traders is much steeper and the potential for losses is often much greater.
For these reasons, crypto trading bots and software platforms have become essential for many traders. By employing software to trade automatically on your behalf, not only are you able to execute trades at any hour of the day, but many crypto trading bots have features that actually help you develop and refine your own trading strategies. In the highly volatile crypto market, chances are you’re already trading against bots whether you realize it or not.
This guide provides a detailed breakdown of the best crypto trading bots and the unique advantages they provide, but first we’ll go through a high-level overview of the most relevant features to be aware of when you’re analyzing various crypto trading bots, tools, and platforms.
What is a trading bot and do you really need to use one?
Any automated trading system is based on a set of rules that dictate when to buy or sell. Bots have been used in the traditional stock market since the 1980’s to curate index funds and diversify portfolios. These bots automate the work that investors have historically carried out themselves, which can save crucial time in the fast-paced crypto market.
Then there are technical trading bots that predict price movements and execute trades based on signals and indicators. These are the most commonly used bots as crypto traders race to beat the market with a winning strategy.
Features to look for in crypto trading bots and tools Free Trial
All of the trading bots featured on this list have been well reviewed in various crypto trading communities and websites, but nothing beats trying out the product for yourself. The majority of tools and platforms on this list offer a free trial.
In addition to developing your own trading strategies, you may want the option to follow other traders and other common strategies used with the product. A good strategies marketplace built within your trading tool of choice will make it easy and cost efficient to benefit from profitable trade strategies.
Backtesting allows you to test trading strategies against historical data to see how your algorithm or trading strategy would have performed under real market conditions. Obviously, you want to have access to backtesting features that create the most realistic simulations which means taking into account slippage and latency.
This means that the accuracy of the backtesting tool is only as reliable as the historical data sources that it pulls from. You’ll also want to look for a robust community of traders who share their backtesting configurations on community forums.
Many trading tools offer portfolio automation, and it’s important to consider how they create their indices. Unlike with stocks and securities, it’s not possible to maintain a complete index of all coins currently traded in the crypto market. So a good trading bot should have educational content that details which coins are sampled and how market caps are weighted in the index.
Cloud based vs. Server based
Most of the newest crypto bots are cloud based, so if convenience is a high priority for you, this is something to be aware of. If a trading tool is not cloud based, you will have to keep your server/computer running at all times to make sure you don’t miss any trades. While it does require some technical know-how to run trading software on your own server, the upside is that it’s more customizable and typically has higher performance. If this is a priority for you, then there are some great open-source programs on this list.
When it comes to trading, the community around a product can often be just as important as the product itself. You’re paying not just for the technology but for the living manual that will help you use it most effectively. If you really want to get the most out of your trading software it’s a good idea to check out the trading community that is using it.
Many of the trading tools on this list have made big investments in community development, while others are more suited for the lone wolf traders. Compare how active the trading communities are on Telegram, Reddit, or Discord. It’s also important for you to consider the country and language of the trading community as crypto regulations are different all around the world.
Support & Tutorials
As you consider which trading tools to invest in, take a look at the educational content that is available on the site. In order to reach the growing market of new crypto traders, many of the platforms on this list have developed training modules, blogs, and videos to educate their users. Also consider the support offered for when things inevitably go wrong. With responsive chat or phone support, bugs and updates can be promptly addressed so that you can get on with trading—otherwise you might waste valuable time waiting days or weeks for email reply.
Crypto Tax Software Integrations
It can be easy to rack up a high number of trades when trading with crypto bots and automated tools. This can make reporting your crypto gains and losses on your taxes challenging if you don’t have the right software. It’s important to look at the crypto tax software companies that are compatible with your trading platform of choice.
is the leading crypto tax software that is partnered with many top crypto trading bots, terminals, and tools on this list. Having good crypto tax software that supports your crypto trading strategy will keep your tax reporting extremely easy and stress free. CoinLedger
to learn more about how crypto tax reporting works. this guide Our Trading Platforms of Choice: Best for Price Coinrule Zignaly TradeSanta Phemex Best for Beginners Pionex Shrimpy CryptoHopper Best for Advanced 3Commas Coinigy Best for Community Gunbot Kryll Breaking Down The Best Crypto Trading Bots: 1. Coinrule
If you’re looking to try out bot trading for the first time then a free trial with
is a great place to start. Coinrule
Based in the UK, Coinrule’s focus is making trade strategy design as accessible as possible. With beautiful UI and an expansive tutorial section written with simple terminology, this platform was designed with beginners in mind. In the spirit of the name Coinrule, trade orders are referred to as Rules. You can develop these strategies within the Rule Page section using IFFTT logic (If-This-Then-That) In this way the Rule Page interface really simplifies the process of setting Conditions and Actions for your trades, with no coding background necessary.
Coinrule does not have any tax reporting partnerships as some of the other options on this list.
Coinrule has a free trial that lets you try out the product with 1 exchange and up to 2 rules. For paid options they have 3 packages for a monthly or yearly subscription. Here are their monthly rates: Hobbyist package is $29, the Trader package is $59 and then the full Pro account is $449.
Bitpanda Pro, Bitstamp, Bittrex, Coinbase Pro, HitBTC, Kraken, Liquid, Poloniex, OKEx
2. Phemex Phemex offers a complete futures grid trading feature for free that is tailored for beginners. The bot enables users to automatically execute buy and sell orders for futures contracts at personalized preset prices.
The feature supports three distinct strategies and allows traders to navigate changing market conditions.
Currently Phemex grid trading bot supports futures contracts with spot contracts coming soon. Traders can take advantage by automating their profits and strategies with futures grid trading bots on Phemex.com and the Phemex app.
Free for all users
3. Pionex is one of the world’s first exchanges with 16 Free built-in trading bots. Users can automate their trading 24/7 without constantly checking the markets. Pionex aggregates liquidity across Binance and Huobi Global and is one of the biggest Binance brokers. Pionex is also a certified CoinLedger partner, and Pionex user's can leverage CoinLedger for streamlined tax reporting. Pionex
- Pionex provides 16 free trading bots for retail investors.
- The trading fee is the lowest compared to most of the major exchanges. The trading fee is 0.05% for maker and taker.
- Grid Trading Bot allows users to buy low and sell high in a specific price range.
- Leveraged Grid Bot provides up to 5x leverage.
- Spot-Futures Arbitrage bot helps retail investors to make passive income with low risk. The estimated return for this strategy is 15~50% APR.
- Martingale bot performs DCA buy, one-time sell to capture fluctuation profit.
- Rebalancing bot helps you to hodl the coins.
- Dollar-Cost Averaging (DCA) Bot Sets repeated purchasing at regular intervals to offset the effects of volatility.
- Smart Trade terminal allows traders to set up stop-loss, take profit, trailing in one trade.
- U.S. FinCEN’s MSB (Money Services Business) License approved
Mobile Apps: iOS & Android
4. Shrimpy is a portfolio management platform that also provides tools for automated trading. Shrimpy became famous for its auto-rebalancing portofolio tool, but later introduced a tool that allowed users to trade across multiple exchanges. Shrimpy
This is another platform that really stands out for its streamlined UI and strong tutorial section. They offer a wealth of features including backtesting, social trading, and portfolio rebalancing.
Shrimpy has a great community as well as social trading features built in. You can tap into the community through Reddit, Telegram, or Discord to learn more about how other users are leveraging the tool and making profits.
Shrimpy has also partnered up with CoinLedger to offer a simple solution for tax reporting to its users. If you become a shrimpy user, you can sleep easy knowing that your tax reporting can be automated with this partnership.
Getting started building out your automated portfolio is free. Once you move onto more advanced features Shrimpy is $13-$19 per month. They also offer enterprise pricing for businesses and crypto companies looking to leverage their software for trading.
Bibox, Binance, Binance.US, Bitfinex, BitMart, Bitstamp, Bittrex, Bittrex Global, Coinbase Pro, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, Poloniex
is a cloud-based cryptocurrency trading platform that connects to more than 45 exchanges including Binance, Bitfinex, Bittrex, Coinbase Pro, FTX, Huobi Pro, Kucoin, Kraken, and Poloniex and 7,200 markets and currency pairs. The platform offers multi-exchange real-time pricing data, full-featured spot trading, data visualization, direct blockchain analysis, and portfolio management/aggregation tools through its subscription-based service. Coinigy Prices
A monthly subscription ranges from free (for just getting started), to $18.66, to $99. Higher tiers get access to a greater depth of features and tools.
Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, Coinbase Pro, Huobi Pro, Kraken, Kucoin, Poloniex
6. 3Commas is a new contender in the automated trading bot space that uses Dollar Cost Averaging to inform trade decisions.This platform especially stands out for their trailing stop tool. This means that you can take advantage of a sudden price rally because the trailing stop will keep your position open for as long as the price increases. As soon as the price reverses, your position will automatically be closed. Another great feature of 3Commas is that they offer multiple currency support. 3Commas
3Commas is a cloud-based platform and supports up to 20 exchanges. Beginners can start with their paper trading feature to test out their strategies. Advanced traders will get value out of their SmartTrading tool which allows trading from multiple exchanges and pairs from within their streamlined interface.
3Commas has also
with CoinLedger to bring automated tax reporting to their users. partnered Prices
3Commas offers a 3-day free trial for the Pro package, which lets you try out all of their features. They have monthly subscription plans ranging from $22, $37, and $75. There’s a 15% discount for a 6-month subscription and 25% off for a yearly subscription. If you want to access marketplace signals that is an additional subscription through their Marketplace.
Binance, Binance DEX, Bilance Futures, Binance.US, BitMEX, Bitfinex, Bitstamp, Bittrex, Bybit, Cex.io, Coinbase Pro, Exam, Gate.io, HitBTC, Huobi Global, Kraken, KuCoin, OKEx, Poloniex, YoBit
7. CryptoHopper is one of the most popular trading bots on the market, and it offers many of the features that a beginner should be looking for: paper trading, backtesting, trailing stop-loss and a strategy designer tool that makes it easy to customize your trading strategy with the help of over 130 indicators. CryptoHopper
CryptoHopper has a robust tutorial section for beginners as well as the option of purchasing the best strategies and templates from expert traders. The platform’s dashboard makes it easy to subscribe to many external signalers.
CryptoHopper is cloud-based and supports up to 12 exchanges, and they are always adding more. For advanced traders, CryptoHopper has a marketplace of free and paid signals which you can combine with technical indicators to customize your own strategy.
CryptoHopper has a free Pioneer package that enables manual trading and portfolio management, but if you really want to get a sense for their trading bot you should try their 7-day free trial of the Explorer package. They have three packages for a monthly subscription ranging from $19 to $99.
Binance, Binance.US, Bitfinex, Bittrex, Coinbase Pro, Bitvavo, HitBTC, Huobi, Kraken, KuCoin, OKEx, Poloniex
8. TradeSanta is another cloud-based platform that offers both a great free plan as well as a 5-day trial of their basic plan. Their free plan lets you trade with up to 2 bots, and the basic plan up to 49 bots. TradeSanta
The TradeSanta website really excels at making automated trading feel simple. They have great tutorials and 24/7 support. You can build your strategy using their Long or Short templates or customize your own from scratch. They currently support 9 exchanges including Coinbase Pro and Kraken.
They have 4 pricing plans based on monthly subscriptions: Free, $20/month, $100/month. They have one more plan as part of a special partnership with. HitBTC which is $30/month with 0% trading fees on HitBTC. You get unlimited trading pairs and exchanges on each plan. The only difference is that you have access to more bots with the higher priced plans.
Binance, Binance.US, Biybit, Coinbase Pro, FTX, Kraken, HitBTC, Huobi
9. Zignaly is another new trading terminal that offers a free trial with their paper trading option. What started out as a top provider of cryptocurrency signals, has grown into a full-fledged crypto trading platform and suite of tools for traders. Zignaly
Zignaly offers copy trading, trading bots, and a full crypto terminal within the platform. It is cloud-based software, and the team is focused on being a low barrier to entry platform that simplifies the entire process from start to finish.
One of the best features of Zignaly is the depth of their signal integrations. You can pull in signals from your favorite signals provider to trade automatically.
Zignaly is another trading platform that has partnered up with CoinLedger to bring automated tax reporting to their users. See more about the
. partnership here Pricing
FREE. Zignaly is completely free to use as a result of their partnership with various cryptocurrency exchanges. This is a huge advantage over competing products, and it makes giving the platform a try a no-brainer!
KuCoin, Binance, More coming soon…
When it comes to building your own trading strategies,
leads the market with their outstanding UI. Their strategy editor offers an intuitive drag and drop interface that allows you to build a trading strategy graphically. You can then try out your strategy in demo mode for free; you only have to pay once you start using it for real trades. Kryll.io
Kryll has a very active trading community which makes their Marketplace a competitive feature for the platform. If you think you’ve created a winning strategy, you can choose to publish your strategy in the Marketplace and earn commission from every trader that uses it. Beginner traders might want to start with renting a strategy from the Marketplace.
Kryll’s pricing model is based on transaction fees per trade. All fees are paid in KRL token and you can lower those fees by holding KRL. They do not offer a free trial, but their pay per use model lets you try out the product a little bit at a time without committing to a subscription. Kryll is an especially good option for Binance users as their partnership can reduce your Binance trading fees by up to 20%.
Binance, Binance.US, Bitstamp, Bittrex, HitBTC, Kraken, KuCoin, Liquid
11. Gunbot is a highly customizable trading bot for advanced traders. It is not cloud-based and requires you to set up your own server. If you’re concerned with protecting your privacy, this is a great option. Gunbot
Gunbot is known for its enthusiastic trading community where thousands of traders contribute in fixing bugs and improving product performance, so it’s no surprise that they support over 100+ exchanges. If you are a beginner, you can start out with their preset strategies. Otherwise, you can customize your own.
Make sure you are comfortable setting up this bot yourself. You should have experience and comfortability with code and installing your own program.
You can purchase Gunbot for a one-time payment which includes unlimited updates and support. The prices range from $9.99 to 0.04 BTC to download.
Crypto Tax Software + Your Trading Bot
Before you get started with your automated trading strategy, you should make sure you have a plan for tax reporting.
Cryptocurrency is treated as property by government agencies like the IRS, which means you need to report your capital gains and capital losses from each of your cryptocurrency trades on your yearly tax return.
This can be difficult to do by hand if you have a number of trades across various exchanges.
like CoinLedger is built to automate all of your crypto tax reporting so you don’t have to do any manual work. Simply connect your exchanges and generate your tax reports with the click of a button. Cryptocurrency tax software
CoinLedger has partnered with many of the trading bots and platforms on this list, so you can rest assured that your tax reporting will be easy.
If you want to learn more about how cryptocurrencies are taxed, how to report, and how CoinLedger can automate the process, check out our guides below.
Crypto Tax Guide (USA) Crypto Tax Guide (Australia) Crypto Tax Guide (Canada) Crypto Tax Guide (UK)