Best cryptocurrency Trading Bots 2022. User guide   

Cryptocurrency trading, enjoying increasing popularity, is becoming one of the most popular investment tools. However, at the same time, trading is generally a very complex process that constantly requires a lot of attention and a significant investment of time.

Unlike traditional stock markets, cryptocurrency trading never stops, making it virtually impossible for traders to track market fluctuations, diversify risk, reduce errors, and ensure profits from the trading process 24 hours a day. Therefore, many traders use crypto trading bots to execute trades faster and more efficiently.

In this guide, we will learn what crypto bots are and how to use them in the market.

What is a cryptocurrency trading bot?

cryptocurrency trading bot is a unique software that automatically buys and sells cryptocurrencies at the right time to make a profit. A Cryptocurrency bot enters into transactions using artificial intelligence based on pre-set parameters.

How does a cryptocurrency trading bot work?

Cryptocurrency bots work according to unique algorithms and trading strategies, which, in turn, are created based on technical analysis. To conduct an independent investigation, a trader needs to obtain historical data on changes in the value of an asset.

After conducting a technical analysis based on the same historical data, the strategy is checked, and the number of potential losses and profits is calculated. If the trader is satisfied with the research results, the rules of the bot’s trading strategy are created on their basis. Some crypto bots can additionally use indicators to analyze the current situation on the market, while others open orders only when certain market conditions occur.

The trading strategy of cryptocurrency trading bots can be straightforward, for example:

• When the price drops, the bot buys digital coins;
• When the price rises, the bot sells the cryptocurrency.

But the bot can also use more complex trading strategies. For example, take into account indicators and recent historical data. Some crypto bots analyze more than a hundred parameters when placing an order.

The algorithm does not change in some programs, but some bots can be connected or configured using additional settings. This option is suitable for experienced traders with their trading strategies and preferences.

Cryptobot can perform the following actions:

• Analyze the market, monitor the value of an asset for a given period, and predict possible profitable transactions. While trading manually, it can provide traders with signals;
• Open orders to sell or buy;
• Submit a profit or loss statement.

How to get cryptocurrency bots?

There are three options for getting cryptocurrency trading bots:

1. Creating a bot from scratch on your own. This option is suitable for those traders who are familiar with programming. However, all bots are created exclusively for some exchange. Accordingly, the platform must offer an API. It is a set of information about the state of trading and functions that allow you to start trading according to user-defined parameters;
2. Buying a cryptocurrency trading bot. This option is suitable mainly for users without programming skills. Today a lot of companies are writing this kind of software. Moreover, it is not only the purchase offered but also the temporary rental of the bot;
3. Download/install a cryptocurrency trading bot for free. The third option is to download cryptocurrency trading bots for free. The advantage of this option is that the trader does not need to invent anything, write programs or pay money. But there are also pitfalls here. For example, the user cannot be sure that the bot will not start transferring the profits received to the internal accounts of third parties.

Benefits of cryptocurrency trading bots

• Decision-making speed. Beginners do everything even more slowly. As a result, the opportunity to profit from cryptocurrency trading may be missed. To avoid such situations, many traders often resort to using bots, which analyze market situations much faster than humans and make informed decisions;
• Ability to analyze an unlimited number of pairs. In this parameter, the bot is also superior to the human. Sometimes, a person cannot diagnose a large number of assets and make a decision. Therefore, in this case, many traders use crypto bots;
• No mistakes in the algorithm. A user can make mistakes in the process of market analysis. It is due not only to the level of training but also to the psychological state of the trader. Bots work only within the framework of the algorithm. If there is a signal, the cryptocurrency trading bot will use it;
• Cryptocurrency trading 24/7. Unlike a human, a bot can enter transactions around the clock. In this situation, the bot works much more efficiently; thanks to this, the trader will not miss the trading opportunity;
• User’s free time. The use of cryptocurrency bots involves providing a user with more free time. A crypto bot does not need to analyze anything, as many algorithms are configured to automate trading fully – from the moment a signal appears to the moment a decision is made;
• Lack of emotion. Unlike a person, a cryptocurrency bot does not experience any emotions and is not subject to various psychological states that can affect trading results – it operates only within the framework of its algorithm;  
• Discipline. Many do not know how to manage capital and irrationally invest their money properly. The cryptocurrency trading bot will work according to the algorithm embedded in it. For example, if a trader has set a trade size limit of $20, the bot will never change it.

Disadvantages of cryptocurrency trading bots

• Template actions. Bots cannot independently analyze and understand when the market trend changes since, in this case, a complete loss of the deposit may occur;  
• Lack of emotion. It is both an advantage and a disadvantage at the same time. For example, after a certain number of unsuccessful transactions, a person can stop trading for a day. Then, after some time, he can change the system and resume the trading process. The cryptocurrency trading bot will open new orders until the trader stops it or runs out of funds on balance;
• The need for constant monitoring by the trader. Many traders find that a cryptocurrency trading bot does not need to be controlled once it has been set up. However, this is an erroneous opinion, as an unexpected failure in the system may occur. Therefore, traders should keep an eye on data reports and never give a crypto bot access to all of their assets;
• Risks of failure in software development. This risk always exists since professionals develop not all crypto bots, and even PRO bots are not perfect. Cryptocurrency trading bots are built on specific codes and algorithms that help them function. During development, errors may occur, making the bot inefficient at particular points.

Cryptorobotics trading bots

Currently, many different platforms offer traders the opportunity to use bots in cryptocurrency trading. Cryptorobotics trading bots are one of the best. They have a full range of features that help minimize risks and increase profits. All these bots are different from each other and enter into transactions depending on which trend prevails in the market. How is it further, and which one is right for you?

Crypto Future

Crypto Future are crypto bots that trade in both long and short positions. Thus, traders can make money on a rising and falling market and choose the leverage for trading. These bots are divided into three types, which differ in the level of risk and the number of cryptocurrency pairs.

Conservative is a conservative risk bot that is an automated system. This bot allows traders to use ten major cryptocurrency pairs in their trading, trade both long and short positions, set a conservative Take level Profit and Stop Loss, and the percentage of balance drawdown.

Moderate is a medium-risk bot that allows a trader to trade 20 major cryptocurrency pairs. Traders can trade in short and long positions, set an intermediate Take level Profit and Stop Loss and balance drawdown percentage.

Risky is a high-risk bot that allows traders to use 30 cryptocurrency pairs in their trading. The trader can set the risk level Take Profit and Stop Loss and the drawdown percentage on balance.

It is worth noting that all these bots can only trade on Binance futures.

Optimus

Optimus is a cryptocurrency bot designed to enter trades at low price volatility. It opens orders on positive price fluctuations and closes them according to certain oscillators and indicators configured by the algorithm. This bot supports the following exchanges: Binance and Binance.US, Bittrex, CEX, Bitfinex, EXMO, Huobi, Kraken, OKEX, Gate.io, P2PB2B, and Poloniex.

CyberBot

CyberBot can trade in a rising market and will never enter countertrend trades. Thus, it helps to reduce the risks of losing funds and increases the chances of making a profit. Traders can use this bot to trade cryptocurrencies on the following exchanges: Binance, Binance.US, Bittrex, CEX, Bitfinex, Huobi, EXMO, Kraken, OKEX, Gate.io, P2PB2B, Poloniex.

The one bot

The one bot is a cryptocurrency trading bot tested using unique tools in an algorithmic trading system. The one crypto bot uses custom indicators for buy and sells signals, showing a stable result in the long run. Thanks to its proven efficiency when trading 150 cryptocurrency pairs, it can change using a high-risk strategy. It can open long and short positions on the Binance and Kraken cryptocurrency exchanges.

How to start using Crypto future?

To start using Crypto Future, the trader needs to do the following:

• Go to the “Algorithmic trading” tab;
• Select the “Trading robots” section, and then “All robots”;
• Choose one cryptocurrency trading bot: Conservative, Moderate or Risky.

Next, you need to run a cryptocurrency bot. For this, you need:

• Go to the “To my robots” tab;
• Press the “Management” button;
• Select “Operating mode”;
• Go to “Settings”;
• Select Binance exchange futures;
• Pass verification on the exchange;
• Link an account to the terminal using an API key;
• Select cryptocurrency and balance for trading;
• Choose the leverage for trading.

Important! It is not recommended to use considerable leverage, as this is associated with additional risk.

To avoid losing your funds with unexpected fluctuations in the cost of digital coins on the market, you must specify the allowable percentage of drawdown of the deposit. If your balance falls below the specified rate, you can stop selling everything or buying in the risk management section.

After clicking on “Save and run”, the bot will start trading with the specified parameters.

Please note that in the terminal, there are two modes in the airport – Test and Working mode. Those who have not yet used these trading bots can test them in test mode, while the crypto bot will trade directly into the order book, but your balance will not be affected.

How to set up crypto bots Optimus and Cyber bot?

• Go to the ” Algorithmic trading ” tab.
• Select “Trading Robots” and then click on the “My Robots” button.
• Press the “Control” button.
• Select test or operating mode.
• Next, you must select the test or operating mode.

If a trader wants to see how these cryptocurrency trading bots work without using their funds, he can select “Test Mode”.

To start full-fledged trading, select the “Working mode”:

• Click “Settings” in the upper right corner.
• Select an exchange.
• Get verified.

Important! If you choose the Binance exchange, you must bypass the complicated verification process by using the services of the Cryptorobotics terminal. Then, a sub-account for you on the Binance exchange will be created, and you can start trading immediately.

You can find step-by-step instructions for connecting a sub-account on its website on Binance:

• Select a cryptocurrency for trading.
• Choose cryptocurrency pairs.
• -Specify the timeframe and trade balance.
• Indicate the total balance.

Traders can also set up a Stop Loss and Take Profit to make your trading process more efficient, safer, and profitable.

How to start using The one bot?

• Go to the “Algorithmic trading” tab.
• Select the section “Trading robots”.
• Select “The one bot”.
• Press the “Test” button.

It is worth noting that purchasing any PRO package for testing is necessary:

• Press the button “To my robots”.
• Select the “All robots” tab.
• Then press the “Management” button.

A window will appear with the parameters and settings of the cryptocurrency trading bot, where there are two modes – Test and Working mode. If you are unsure if this bot is right for you, you can see how it works in “Test Mode”. For example, a Cryptocurrency bot will open orders in real-time without affecting your balance.

To run this bot in production mode, you need to follow these steps:

• Select “Operating mode”.
• Go to “Settings”.
• Exchange (Binance or Kraken).
• Pass verification on the exchange.
• Select one of the API keys or accounts.
• Specify the balance for trading. The cryptocurrency trading bot calculates the transaction amount of five per cent of the total balance. In trading, the bot can only use half of the allocated balance by risk management.
• Press the “Save and run” button.
• To begin, use trade crypto bots.

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