Crypto trading bots – helpful guide for beginners

Hello, dear community. In this post, we will help you understand the functionality of the trading bot, consider the advantages and disadvantages, and derive a rating of the best digital trading programs.

Each bot makes transactions on the cryptocurrency exchange, according to a specific scenario laid down in the program. The sequence of actions of a trading bot is called a strategy, it includes a common set of parameters, which serves as a guide for opening and closing orders.

For example, a cryptobot buys a particular cryptocurrency if it falls in price by 5% – 10%, and stabilizes at this mark in order to sell it when the rate goes up again. A trading bot can perform operations in automatic mode, or send signals to the owner when a favorable situation develops on the exchange. The strategy can be integrated into the program by the developer, or customizable by the crypto trader himself.

The simplest cryptocurrency trading bot has a minimum of adjustable parameters, but such an assistant will not bring you serious profit. A complex bot for the crypto exchange will bring good income to experienced players, but not every novice trader will be able to properly configure it. The program can only work on a specific site and cover several services at once. Such programs are called arbitrage bots.

If you want to try a free bot or immediately get a professional assistant, first carefully study its strategy and settings. Need to know:

• Terms of Service.
• The basics of strategy.
• Algorithm for changing settings.
• The mechanism of DCA, trailing, stop loss and shorts.
• Backtests and paper trading;
• The presence of restrictions on coins, trading floors and the amount of deposit.

The best trading bots today:

• CryptoHoper is a bot for the Binance exchange and another 9 popular crypto platforms. It supports more than 100 virtual assets, has a smartphone app and many built-in indicators (RSI, EMA, Parabolic Sar, etc.).
• Centobot - this service has been on the market for three years. Clients are provided with an extensive database of indicators and trading pairs. There are ready-made solutions for various trading styles, as well as the ability to create your own bot from a script.
• aBOT - developed by Arbitraging for arbitration of digital currencies. The main disadvantage of this type of trading is the need for frequent changes of sites. Thanks to aBOT, the user can trade on different platforms in automatic or semi-automatic mode directly from the interface.
• BTC Robot can be used by installing it on a PC or through a web interface. Previously, the bot traded exclusively Bitcoin, but subsequently support for ETH and LTC coins was added.
• RevenueBOT is a cloud trading bot for Exmo, Livecoin, Bittrex, and other platforms. Service Advantages:
• Automated trading 24/7
• Work simultaneously with several pairs on different exchanges.
• No prepayment. 20% of income will be deducted from your deposit, but more than $50 in bitcoin in BTC equivalent for each month of work.