Top 5 Best Crypto Trading Bots

Best Crypto Trading Bots

Trading robots are popular tools among cryptocurrency investors..

They facilitate the automation of purchase and sale orders to make better decisions and optimize perceived returns. Usually, these bots are accessible for free via a smartphone or computer.

Here is our non-exhaustive list of the 5 best trading bots for investing in the crypto market:

Let’s dive right into how these trading robots work 👇

Investing with Trading Bots on Binance

Binance, the world's leading cryptocurrency exchange, has developed a series of trading bots to meet the needs of its users.

Binance: the leading crypto exchange platform

In total, the platform offers 9 different bots for cryptoseach with their own specificities and audience. The most used robots are as follows:

• Auto-Invest;
• DCA spot;
• Spot & Future Grid.

Auto-Invest and DCA spot are the most suitable bots for beginner investors. The first applies to long-term goals, allowing you to automatically invest the same amount on a regular basis in one of the 210 cryptocurrencies concerned. In addition, Auto-Invest directly transfers your purchases to staking services to increase your returns.

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For its part, the DCA spot bot offers a programmed investment that takes more into account market fluctuations. Its goal is to buy as many cryptocurrencies as possible at a low price to resell them at their peak, according to the parameters predefined by its user.

Concerning the Spot & Future Grid, it is aimed at an audience experienced in trading. By automating buy and sell orders within a predefined price range, this trading robot seeks to generate profits through rebounds on the supports and resistances of a cryptocurrency. Note that, unlike the Spot Grid, the Future Grid has a leverage effect.

Illustration of orders executed by Binance Future Grid bot during a long (buy) and short (sell) position

Beware of leverage

Although leverage offers the potential to multiply returns, They also increase the risks of losses and liquidations. This complex tool should be used with caution. If you are a beginner but still want to try this tool, we recommend that you practice with a small amount or a fictitious account before wanting to implement the Future Grid bot into your investment strategy.

Binance: the leading crypto exchange platform

Deploying a copy trading bot on eToro

Recognized internationally as one of the most widely used platforms by investors, eToro has gradually established itself as the company that popularized a particular trading robot: copy trading..

Buy crypto on eToro

Copy trading is a strategy where cash and assets in an investment portfolio replicate orders executed by a third party. In other words, instead of buying and selling cryptocurrencies yourself, This task is entrusted to a robot that will copy an investor previously chosen by the user.

👉 eToro Review (2024): The Ideal Trading Platform or One to Avoid?

On eToro, it is possible to copy investors holding stocks, commodities, but also cryptocurrencies. Each of them is accompanied by data on their performance and the assets that make up their investment portfolio:

Ahmed Delowar, a crypto investor whose portfolio is open to copy trading on eToro

One of the advantages of eToro is that its platform offers several thousand investors for its copy trading service.. In addition, it is possible to classify them according to their risk aversion, their assets held and their past performances.

Buy crypto on eToro

Using the BONKbot crypto robot

BONKbot is a trading bot supported by the BONK meme coin community. Running on the Telegram messaging app, its main feature is the automation of cryptocurrency purchases and sales within the Solana ecosystem. For this, the bot relies on the decentralized exchange Jupiter.

Among the cryptocurrencies available on Jupiter are the stablecoins USDT and USDC, as well as the tokens of the Render (RNDR), Helium Network (HLN) and StepN (GMT) protocols. However, The Solana ecosystem is most famous for its many memecoins, and BONKbot allows you to buy them quickly a few minutes after their creation.

This means that it is not possible to directly exchange ERC-20 tokens from the Ethereum blockchain with BONKbot. Only the most famous cryptocurrencies, like ETH and BNB, have a wrapped token on Solana..

BONKbot is therefore an interesting trading bot if you want to buy and sell tokens on the Solana blockchain. This trading bot is often used in combination with DEX Screener, which allows to identify newly created tokens.

Useful links from BONKbot:

Buy cryptocurrencies with Unibot

Unibot is both a web platform and a Telegram channel which offers its users several robots dedicated to trading. If Unibot is popular with investors, it is because of its quantity of services offered on Telegram.

Indeed, beyond delivering robots dedicated to copy trading, automated DCA and limit orders, The main advantage of Unibot is the many blockchains it supports.. It interacts with the Ethereum, Base, Arbitrum networks, but also the BNB Chain and Solana.

In total, Unibot offers to invest in several hundred different cryptocurrencies. We find tokens positioned in the top 20 of the largest market capitalizations as well as newly created meme coins seeking to ride the current trends.

To use these trading bots on Telegram, 2 solutions are possible : either the user chooses to connect his non-custodial wallet like Phantom to the application, or he creates a new Unibot wallet to which he must necessarily transfer a minimum of 0.02 ETH.

Unibot useful links:

Trading with Trojan Robot

Much like BONKbot, Trojan is a Telegram bot dedicated to the Solana ecosystem.. With over 250,000 recorded users, Trojan is one of the most popular memecoin trading bots.

Trojan is able to automate a DCA and execute token buy and sell orders in seconds. It also allows copy trading to replicate the strategy of the best traders on the Solana blockchain.

Thanks to the low fees of the Solana blockchain, this trading robot does not impose a minimum amount to be used. However, it is recommended to start with a small amount to get familiar with this bot..

Trojan useful links:

The Risks of Trading Robots

Despite their advantages, Trading robots are not without risks. Indeed, some malicious actors create bots to leave with their users' money. Vigilance is therefore required when it comes to choosing and using such a tool.

The best way to ensure your security and that of your cryptocurrencies is to turn to towards a platform regulated by the French and European authoritiesFor example, the Financial Markets Authority (AMF) publishes on its website a list of entities authorized on the national territory via PSAN registration, held in particular by Binance and eToro.

Also note that Trading bots charge a fee for every transaction made. This amount can reach 1% of the total transaction. In this case, it is better to anticipate these costs and limit the number of transactions.

For beginners in the cryptocurrency market, it is necessary to remain attentive to the inherent risks of the tools offered by trading bots. Let's mention leverage, which in the wrong hands can liquidate an investment portfolio in seconds..

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Always enthusiastic about new technologies, I gradually got closer to Web3-related activities during 2021. Over time, I wanted to contribute. That's when I became a writer, with the aim of explaining topics related to cryptocurrencies to as many people as possible.

Timothy Bourbotte

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