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7 Popular Bitcoin Trading Bots in 2019

  • Alex Dovbnya
    WikiCoin

    Picking the right trading bot is crucial for generating sustainable passive income. Luckily, U.Today is here to help


7 Popular Bitcoin Trading Bots in 2019

Disclaimer: The opinion expressed here is not investment advice it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Contents

Lending trading bots could be one of the most profitable forms of passive income in crypto if you play your cards right. Whether you are a seasoned trader or beginner, U.Today will help you to pick up the best trading bot.        

Its not an easy feat to invest in cryptocurrencies given how volatile the prices are. However, it goes far beyond that mercurial industry even seasoned traders lose plenty of money after unsuccessful trades. The fact that humans, including the most experienced ones, are not immune to mistakes creates a market for automated trading. Trading bots have plenty of advantages:

  1. Users are able to execute trades over the clock without wasting their own time.

  2. No emotional involvement.

  3. Plenty of available strategies.

Haasbot

HaasOnline Software簧, a Dutch software company, released the first known Bitcoin trade bot in 2014. Which would famously become known as the HaasBot簧 in crypto trading circles. The HaasBot is only a part of the complete suite of trading tools available on the HaasOnline Trade Server.

Their large list of features includes:

  • Drag-and-drop Visual Algo Editor

  • Backtesting & Paper Trading

  • Custom Dashboards

  • Technical & Market Analysis

  • Technical Indicators (users are able to choose among different indicators with different time frames from 60 seconds to three days).

  • Safeties (as the name suggests, this feature is a safeguarding measure that can be crucial when the price of a certain cryptocurrency plummets).

Insurances (insurances help to determine how bots should react to certain trade signals).

HaasOnline Software
Image by HaasOnline

HaasOnline offers flexible pricing with three license types and different term lengths. The pricing is set in BTC and due to market price fluctuations can go up to ~$2,000 USD/yr for their professional license. Users looking to get started can get a copy of the HaasBot for around ~$250 USD/qtr for the entry-level license, which offers access to the majority of the platform.

HaasOnline Trade Server comes with three different bot types (trade bot, custom bot, and haas bot). With the custom bots you can choose from pre-built templates like the Arbitrage bot, which allows you to profit off the price differences on various exchanges.

DAXrobot

DAXrobot offers its customers high payouts, which makes it one of the best offers in the automated trading niche. You have three deposit/withdrawal options:

  • Bitcoin (BTC)

  • Ethereum (ETH)

  • Litecoin (LTC)

The robot automatically determines the most suitable trading strategy based on the specific assets that you choose. However, the best thing about all of this is that the robot is free to use.

DAXrobot web interface
Image by 

The software has a beginner-friendly interface, which will allow users to understand the basics of trading from the get-go. Unfortunately, DAXrobot doesnt have a phone app.

It works with CFDs and Forex (regulated), so it doesnt touch binary options.  

NB! DAXBASE (as well as DAXrobot) do not provide any services on US territory.

BinBot Pro

For those who are short on budget, BinBot could be another suitable option. It supports a slew of cryptocurrencies and binary options assets. Unlike DAXrobot, this trading bot is available worldwide, including the US and Canada.  

With a win-rate of over 80 percent, this is one of the best offers on the market that is completely free (you are only required to place a minimum deposit of $250). Users also have the possibility to create a demo account before depositing money.  

BinBot Pro web interface
Image by BinBot

After registering on the website, you are required to choose one of the brokers and go through a setup process; deposits and withdrawals are conducted by the broker.

Before running the auto-trader, you have to adjust the trading settings. The bot uses the most common technical indicators, such as MACD, Williams %R and others.

Gunbot

Gunbot is yet another established trading bot on the market. The largest exchanges support this bot (the number of exchanges depends on the plan that you choose).     

When it comes to pricing, there is a one-time payment for a lifetime license, which could seem like an advantage to those who are not willing to pay fees. There is also a marketplace for different trading strategies, meaning that you can buy unique ones from other traders.

Its also worth mentioning that GunBot has excellent customer support, and its developers are constantly posting updates on Github.

Gunbot Interface
Image by Gunbot

If you manage to configure this bot properly, it can be a perfect tool for generating passive income.

Gimmer

Gimmer allows traders to use a wide array of crypto trading bots. The platform supports multi-currency trading and provides users with many trading strategies (additional ones can be rented from a bot store).

Notably, Gimmer is based on its own decentralized app. The whole ecosystem is powered by Gimmer tokens (GMR). The tokens can be used for renting bots, buying strategies, etc. The good news is that a standard automated trading bot is offered for free.      

Gimmer web interface
Image by Gimmer

The features include backtesting, marginal trading, setting up indicators and safeties. With Gimmer, you can also use an automated lending bot in order to invest in cryptocurrencies that have the most deficit.

The bot has multiplatform support (Windows, macOS, Linux).

Cryptotrader

Cryptotrader is one of the most popular mainstream bots, which explains why it supports so many cryptocurrency exchanges. With its large community of users, there is no doubt that we are dealing with a legitimate project.

Cryptotrader supports cloud-based bots, which means that it is not necessary to install additional software.

Cryptotrader web interface
Image by Cryptotrader

Before actually engaging in automated trading, you can run a backtest tool to see how a certain strategy performs based on the historical data.  
 
Many trading strategies are available for free, but one will have to shell out 0.0522 BTC in order to get access to all trading bots with plenty of other useful features.

Kryll

Kryll is a cloud-based platform for automated trading that allows you to create your own strategies with their unique Drag nDrop builder. Alternatively, you can buy one in their marketplace where users are able to monetize their own strategies. After running a backtest of a certain strategy, you can estimate how much it will cost you.

Kryll Trading Interface
Image by Kryll

The platform has its native ERC20 token dubbed KRL that serves as fuel for running your different trading strategies. By participating in the KRL holding program, users are able to reduce the amount of fees they are charged for their trading time (Kryll relies on the pay-per-use model). Kryll has a 0.0333% daily fee that is deducted from the total amount of funds you invested throughout the day.

There is no need to download specific software on your computer since you can manage all your strategies online. Meanwhile, there are mobile apps for iOS and Android users.

Other bots to consider:

  • Margin

  • BTCROBOT

  • Zenbot

Best cryptocurrency trading bots 2019
Image by U.today

Beware of Bitcoin scams!

Weve just enumerated the best cryptocurrency trading bots on the market. Case in point: USI Tech. It was originally a bot that is designed for Forex trading, but the startup made a foray into the cryptocurrency market. It also differs from other bots on the list in terms of trading management you arent able to control the bot, but you could still get revenue while running it.    

The creators of this bot claimed that investors would be able to make up to 150 percent every year. Later, it turned out to be a Ponzi scheme.

Cover image via www.123rf.com
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. Hes particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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