TOP 5 best trading robots for trading cryptocurrencies in 2022  

Due to the market’s volatility and unpredictability, a crypto trader always needs to be on the alert to make money. But the industry does not stand still, and now the trader has assistants – trading robots.

Such programs automate routine actions when trading on the stock exchange. So, for example, a trader does not need to monitor quotes constantly – this task (and some others) is taken on by trading robots or, as they are also called, advisors.

You also need to know how to work with them. For example, if a trader does not understand what to automate, no robot will help him.

Today we understand: what trading robots are, why they need trading robots and how to work with them correctly. And also how to choose a reliable robot for trading in 2022.

And let’s start with the rating of the best from our experts.

TOP 5 Cryptocurrency Trading Robots

3COMMAS

Brief description and features

• A clear and transparent automatic trading system that allows you to connect investment tools and financial protection algorithms;
• Works with 23 top crypto exchanges, including Binance, BitMEX, Bittrex and others;
• Convenient modern interface with hints;
• Detailed documentation for beginners;
• Large selection of bots and tools;
• 4 tariff plans: Free, Initial, Trader, PRO;
• Trading on the spot market and the futures market (including with leverage);
• Smart trading terminal with professional Trading indicators view;
• Promotions and personal offers;
• Offers for business partners;
• Excellent reputation;
• Mobile 3 Commas apps for Android and iOS.

CRYPTOHOPPER

Brief description and features

• Automatic trading of 100+ digital assets;
• Based on a cloud service: access to data from anywhere and no risk of losing it;
• Easy setting;
• Works with 13 popular crypto exchanges ;
• Several tariff plans (including free);
• Ability to configure the program manually (for experienced traders) or use ready-made strategic models (for novice traders);
• Academy With cryptohopper and video library with detailed instructions for beginners;
• Additional earnings on the affiliate program.

BITSGAP

Brief description and features

• Works with all top exchanges: Binance, OKX ( OKEX ) and 26 others;
• 3 tariff plans for different budgets;
• Free version;
• Tools for earning on arbitration;
• Monitoring of trading signals: analysis of 10,000+ trading pairs every second;
• Earnings on arbitration (difference in purchase and sale prices on different exchanges);
• Ability to trade on the specified automatic settings or adjust them manually;
• Affiliate program;
• High level of security.

CRYPTOTRADER

Brief description and features

• Program for automated trading of Bitcoin and other top cryptocurrencies;
• No program installation required (works in a cloud environment);
• Compatible with most popular crypto exchanges: Binance, Huobi, Bittrex, Coinbase, Kraken, etc.;
• 5 tariff plans: from $8 to $200 per month;
• Ability to use existing strategies or create your own;
• Short-term and long-term strategies;
• Notifications about important news and changes in the market;
• Additional earnings on the referral program;
• Free 7-day trial.

HAASONLINE

Brief description and features

• Advanced service for automating trading on cryptocurrency exchanges, aimed at experienced traders;
• Supports all top platforms: Binance, OKCoin, OKX (OKEX), Bitfinex, BitMex, Bitstamp, BITTREX, HitBTC, and CEX.io, etc.;
• 3 tariff plans;
• Own high-performance scripting language – HaasScript;
• Basic and custom bots for trading strategies of varying complexity;
• Large selection of indicators, as well as an indicator scanner (to find the optimal indicator settings for a particular currency pair);
• Available trailing, take-profit one hundred p -and iceberg orders;
• Focus on privacy and security;
• Referral program.

What is Trading Robot 

A trading robot is a program with unique algorithms that analyzes data from crypto exchanges and provides practical tools for automated trading.

Trading robots were created as assistants for traders. Such programs allow you to conduct automated transactions and free you from constant quote tracking. Depending on the trading strategy, the trader independently sets the program parameters or uses existing solutions developed by professionals. Based on these settings, the program analyzes the market, creates buy/sell orders and executes them, provides data on profitability and performs other functions that allow you to automate the trading process.

In addition, trading robots allow you to trade simultaneously on different exchanges and use several currency pairs.

Due to the high reaction speed and accuracy, the trading robot can make more transactions: a trader could not achieve such indicators manually. And the most important thing is the absence of an emotional factor that often prevents traders from making the right trading decisions.

It is especially noticeable in a highly volatile market when the price of an asset is subject to substantial changes in a short period.

As for the possibilities of trading opportunities, everything is simple here: the more expensive the tariff plan that the trader has chosen, the more robots and functions he gets at his disposal.

Operating principle of Trading Robot

Trading robots allow the user to conduct transactions with minimal personal involvement. However, many people mistakenly believe that a trader can do nothing by launching a robot.

But without doing anything, the trader will not earn anything (and even lose).

You need to monitor and adjust the program’s work for effective trading. In addition, it is essential to know the cryptocurrency market’s fundamental principles and understand precisely why to connect robots. The success of automated trading primarily lies in understanding what can be automated.

The better a trader knows how the market works, the higher the potential of his robots.

The main tasks that a trading robot performs

• Conducts market data analysis;
• Automates trading;
• Supports activity 24/7;
• Places buy/sell orders in a specific price range and executes them;
• Calculates the monetary parameters of transactions (money management);
• Makes trading decisions without the influence of emotions;
• Calculates the result of the transaction and profitability.

In general, all tasks of the robot can be divided into three parts

• Generation of signals;
• Distribution of risks;
• Execution of transactions.

As a signal generator, the trading bot monitors the market situation and gives signals about good entry/exit moments (if trading is done manually) or closes deals automatically. The robot also does an excellent job of risk management and money management. And the third mission is the direct execution of transactions.

At the same time, you must understand that each trading robot operates by a particular strategy.

A strategy is a set of parameters based on which a trading bot opens and closes positions, analyzes the market, forecasts, etc.

Types of Robots for Trading

The market is a living organism that lives its own life, grows, falls, and sometimes neither grows nor falls but is clamped in a specific price range. Depending on the market’s phase, a trader uses one or another trading style. Therefore, trading robots’ cryptocurrencies are different.

INDICATOR. Indicator robots are based on the analysis of graphic indicators. These classic Expert Advisors look for signals based on data from the applied hands.

It is the most common type of robot that most traders use. Top-rated are automatic programs based on Bollinger bands.

WITHOUT INDICATOR. Non-indicator robots, on the contrary, do not use indicator readings. As a rule, in their trading algorithm, such robots use price action, levels, the Martingale principle (when the position doubles despite the drawdown of the previous transaction), and also work from levels or are based on online signals.

The use of non- indicator trading robots is a hazardous strategy. Initially, it used such advisers in gambling, then found application in trading.

TREND. As the name implies, such robots trade with trends, that is, in the direction of the primary movement, and are most effective in volatile trending markets. Their algorithm is based on the use of various technical indicators.

An indicator such as the Moving Average is often used to detect a trend. Then there is a duplicate entry based on other indicators in the direction of the main trend movement.

FLAT. A flat in the cryptocurrency market is a situation when the price of an asset moves within a flat channel (sideways price movement).

Thus, flat robots are designed to work only in price corridors and are used in markets without clearly defined trends.

Finding the location of a flat, installing a robot on it and turning it off at the beginning of a new trend is not easy. In inept hands, such Expert Advisors can give technical misfires.

SCALPING. Scalping robots are used in high-frequency and high-speed trading when many small orders are created over a certain period.

Such programs are popular due to the high volatility of cryptocurrencies. However, the trade will only be profitable if the correct position size is set. Therefore, scalping robots are mainly used by experienced traders.

PRICE ACTION (price movement). The strategy is based on the price that includes all the necessary information about the state of the crypto market. Price action programs predict market movements based on a price chart. That is, how the price of an asset behaves at the moment.

These versatile and relatively easy-to-use Expert Advisors are top-rated among traders.

ARBITRATION. The arbitrage robot is different in that it works simultaneously on several trading platforms. Because the price of the same asset on other exchanges may differ, you can make money on exchange rate speculation. The arbitrage robot aims to buy a purchase on one sale cheaper and sell it on another, where it costs more.

There is also static arbitration within the same platform. In this case, the robot speculates on the value of assets that have multidirectional trends: one investment is falling – the second is growing.

This strategy does not involve the use of technical indicators.

How to choose a robot for cryptocurrencies trading 

The result of trading largely depends on the choice of a trading robot, so it must take the issue seriously. At the same time, one must understand that there is no universal solution, and it is best to try trading with different programs. In addition, It can test almost all robots for free, and during this time, you can figure out the main tools and working conditions. It is especially true for beginner traders.

Experienced traders often know what they need and choose a robot to suit their needs.

It is also essential to consider your financial capabilities and choose a tariff “affordable”. Fortunately, all services offer several tariff plans, and each trader can choose the best solution for himself. And if necessary, change the client package and expand the possibility of auto trading.

The criteria below can make it easier to find “your” bot. But remember that practice works best in this matter.

Criteria for choosing a robot for trading cryptocurrency

• Ease of use. Automated trading should be as simple as possible, so modern trading robots are created with an emphasis on ease of use and convenience;
• What strategies allow you to implement? The more comprehensive the functionality of the robot (available assets, tools and techniques, the more opportunities for earning;
• Integration with popular trading platforms. It is essential that among partner exchanges, there are top platforms with high liquidity to trade quickly and efficiently, as well as to be sure of the reliability of the platform;
• Reputation of the team and availability of relevant experience. If the robot was created by specialists who have been on the market for more than a year and have already proven themselves, this increases confidence in their product. Conversely, no-name projects in the cryptocurrency environment cause distrust (there are too many scammers);
• Availability of technical support: in addition to the fact of having employees who can contact in case of a problem, an important aspect is their availability at any time, response speed and competence;
• Demo -mode: the ability to test the program on a virtual account allows you to secure your deposit;
• Cost: the availability of different price offers for different budgets helps to choose the best option at the moment and improve conditions in the future;
• Safety of use: study ratings, read reviews from real users and listen to your intuition.

Advantages and disadvantages of trading automation through Trading Robots

Pros

• Automation of the routine: free time for the trader;
• High performance and speed of making trading decisions;
• Analytical benefit: analysis of a large amount of data;
• Discipline and lack of an emotional component in trading;
• Different types of robots in different market situations;
• Risk management and money management;
• Ability to create your strategies or use existing ones;
• Round-the-clock trading: robots do not get tired, do not lose concentration and do not want to sleep.

Minuses

• Template actions;
• Constant control by the trader;
• Robots with good functionality are expensive;
• Difficulty setting for beginners;
• Lack of emotions as a disadvantage: a series of unsuccessful transactions does not stop the trading process, which can lead to significant losses;
• Possibility to stumble upon low-quality software, ineffective, outdated strategies, as well as technical risks;
• Fraudulent projects;
• If you do not understand what to automate, the robot will not help.

FAQ

Why do you need a trading robot?

– Automated systems, trading robots, are designed to make life easier for a trader (also called assistants or advisors). A well-configured trading robot analyzes charts faster and more efficiently, monitors market signals, finds optimal entry and exit points and makes more efficient deals. Thus, trading robots allow you to increase income from cryptocurrency trading and reduce risks and losses.

How do trading robots work?

– The crypto robot concludes transactions on the exchange according to a particular scenario embedded in it by the developers or the trader (when making the settings manually). Each trading robot has a specific sequence of actions called a strategy. Thus, the robot makes trading decisions based on a precise algorithm, parameters, chart patterns, etc.

Are there trading robots for scalping?

– Scalping refers to the strategy of high-frequency trading (high-frequency trading) and consists of making many small transactions over a certain period. Therefore, there are scalping robots that traders use in their trading strategy. When scalping, it is essential to set the correct position size so that it is not too large. Second point: since scalping is a high-speed race, you can be overtaken by faster opponents.

Which trading platforms have their trading robots?

Trading platforms do not provide robots, but you can connect the auto trading program to many popular media, such as Binance, OKEx, EXMO, and Huobi.

Conclusion

A trading robot is an automatic program that works based on an algorithm embedded in it and trades for you on your account. First, however, it is essential to understand that the program itself is a useless thing. Instead, successful algorithmic trading is the trader’s ability to manage the robot competently.

In addition, when trading cryptocurrency, it is essential to understand what to automate and why.

The cryptocurrency market is volatile, and using a trading robot increases the risks even more. Beginners should be willing to invest in training before learning how to operate a robot and making substantial profits. And experienced traders should not ignore the need to “look after” their assistants. If you leave even the most efficient robot without control, expect trouble.

? Best Trading Robots Editor’s Pick

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