Robots Conquer Trading – Algorithmic trading, also known as automated trading, represents a revolution in the way trades are executed. At the intersection of computer science and finance, it involves the use of sophisticated algorithms to automate buying and selling decisions in the markets. This approach enables rapid order execution, dynamic portfolio management, and real-time adaptation to market conditions.
Unlike traditional markets, which have opening and closing hours, cryptocurrency trading can be conducted continuously. Algorithms can thus exploit opportunities at any time, offering unparalleled flexibility. Furthermore, cryptocurrencies are known for being relatively volatile. By their very nature, trading algorithms can react in real time to these violent movements, executing trades at a speed unattainable by human traders.
For investors who want to go further, it is also possible to follow the management of a portfolio live via specialized communities like Steady Lads , where the human approach and professional analysis complement the power of algorithms.
Now let’s explore trading robots !
Estimated reading time: 20 minutes
Table of Contents
- The Best Crypto Trading Bots for Centralized Platforms
- Cryptohopper: a benchmark in the industry
- 3commas: the trading signals specialist
- Coinrule: a bot for CeFi and DeFi
- The Best Crypto Trading Bots for Decentralized Platforms
- BullX: The Favorite Tool for New Memecoin Hunters
- Photon: The Trading Bot for Snipers
- Glider: a bot for Base supported by a16z
- Criteria for choosing the right trading bots
- Understanding Cryptocurrency Trading and Automation
- Introduction to Trading Robots
- Trading robots in a nutshell
- Construction and operation of trading robots
- Advantages and disadvantages of using bots in trading
- Automated trading has advantages…
- …And disadvantages
- Tips and practical advice for using trading bots
- Trading robots: a good diversification solution
The links in this article are sponsored links. The site may receive compensation if you take action through these links. Thank you for your support!
The Best Crypto Trading Bots for Centralized Platforms
For those of you who are impatient, let’s start with a summary table of the main characteristics of the bots that we will present to you in the rest of the article.
All of them must be connected to a centralized exchange platform (Binance, etc.) using API keys. Indeed, the bots are only responsible for placing buy and sell orders. These orders are then executed by and on the connected platforms.
It’s worth noting that most centralized trading platforms are evolving and now offer trading bots. However, their options are still quite limited compared to those offered by the following robots.
There are, of course, trading bots available on decentralized exchanges. They are less comprehensive, but we’ll introduce some of them in the following paragraphs.
| Name of the Trading Robot | Ease of Creation | Specificities and Functions | Supported Markets | Historical performance | Risk Management | Cost / Fees | Benefits | Disadvantages |
| Cryptohopper | Moderate | DCA, grid trading | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 107 dollars per month depending on the plan chosen | Many platforms supported | Aimed at an informed audience |
| 3commas | Moderate | DCA strategies, grid trading, integration with Tradingview via pinescript and webhook | Cryptocurrencies | History of available strategies | Adjusting Position Sizes on Tradingview | From 0 to 374 dollars per month depending on the plan chosen | Integration with Tradingview, wide choice of strategies / Backtesting | Requires some knowledge of trading / programming (pinescript) |
| Coinrule | Moderate | Over 300 predefined strategies available | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 749 dollars per month depending on the plan chosen | Works with CEX and DEX | Not suitable for high frequency trading |
Comparison table of trading bots for centralized platforms
Cryptohopper: a benchmark in the industry
Cryptohopper Interface
Cryptohopper is one of the most advanced trading platforms on the market . It supports most exchanges, allowing you to spread your assets across multiple platforms while managing them centrally.
The interface is easy to use , and you’ll find a wide range of easily configurable strategies. To understand them, however, you’ll need to have a good understanding of trading , and the tool isn’t necessarily aimed at beginners. For added convenience, you can also choose to copy algorithms developed by other users rather than creating your own.
The tools offered allow in particular to:
- Set up automated DCAs (regular purchase or sale of the same token);
- Arbitrate between platforms;
- Backtest your strategies and practice with fictitious positions;
- Using artificial intelligence to make decisions;
- Participate in competitions;
- …
Several subscription plans are available depending on your profile. The most advanced is quite expensive, but the first is completely free and will allow you to try the platform to see if it’s right for you before investing.
3commas: the trading signals specialist
3commas interface
The features offered by the 3commas platform are more or less the same as those of Cryptohopper. It supports 14 of the largest exchanges on the market.
The trader has the option to create his trading bot via the Tradingview platform. This is done using the pinescript language and a system called webhook.
Plans range from $0 to $327 per month, depending on the number of strategies you want to run.
While the product is interesting, it should be noted that it has been the victim of two hacks that resulted in the loss of users’ funds. The 3commas team’s response was far from satisfactory, falsely accusing them of being the cause of the problems. While there have been no new incidents since October 2023, we still recommend exercising caution and keeping these facts in mind.
Coinrule: a bot for CeFi and DeFi
Coinrule Home Page
Coinrule is an algorithmic trading bot that allows you to automate strategies without prior technical skills. The system executes trades as soon as user-defined market conditions are met.
The platform offers more than 300 predefined strategies , categorized by objective: capital protection, return optimization or exposure to specific sectors. Users can also design their own rules via an intuitive drag-and-drop interface, and test what they would have performed in the past before deployment.
As for integrations, Coinrule supports major exchanges (Binance, Coinbase, Kraken, etc.) and a few DEXs on different blockchains (Ethereum, Base, Arbitrum). Whether it’s DeFi or CeFi, you retain control of your assets. The cryptos remain in their external accounts (CEX or wallet) and the bot only serves to retrieve information and send buy or sell orders.
The tool is primarily aimed at beginners looking for a simple solution and intermediate traders looking to test their strategies. It is less suitable for high-frequency trading.
A free plan allows you to test the platform for a gradual familiarization. It’s recommended to start in demo mode, test with nominal amounts before scaling up, and regularly monitor deployed strategies. The platform excels at automating basic to intermediate strategies but requires a disciplined approach.
Coinrule has also just launched VWAPE, a trading bot for use on Telegram.
The Best Crypto Trading Bots for Decentralized Platforms
The bots below allow you to trade on decentralized platforms. Newer than robots for centralized platforms, they are increasingly used because they allow access to many tokens not yet listed by CEXs.
Unlike CEX, your wallet tokens are stored in a wallet dedicated to you. Make sure you understand who holds the private keys to know who can access your tokens.
To use them, you must be comfortable with non-custodial wallets on mobile and browsers.
| Trading bot name | Ease of use | Specificities and functions | Supported markets | Historical performances | Risk management | Cost / Fees | Benefits | Disadvantages |
| BullX | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Best interface on the market | Risk of significant loss of funds depending on the tokens traded |
| Photon | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Allows you to buy tokens before the mass | Risk of significant loss of funds depending on the tokens traded |
| Glider | Moderate | Developed on Base but will extend to other blockchains | Cryptocurrencies | Depends on users | Managed by user | No fees for now | Very promising | In development |
Comparison table of trading bots for decentralized platforms
BullX: The Favorite Tool for New Memecoin Hunters
BullX Interface
BullX is a bot specifically designed for memecoin trading , but can be used for any token on supported blockchains. Currently, Ethereum, Base, BNB Chain, Arbitrum, Blast, and Solana are supported.
The bot allows you to place classic buy and sell orders on the market, as well as limit orders, stop losses, and take profits. It allows orders to be executed much faster than those who do it “manually,” which is essential for trading low-marketcap tokens with limited liquidity.
The app offers various security audits to prevent users from getting scammed. It’s possible to know at a glance whether the smart contract is modifiable, whether the supply is infinite, whether the tokens are held by a minority of holders, whether the developer has already sold their share, etc.
Getting started with the application is very simple . However, you will need to have a thorough understanding of the market if you want to use the tool with emerging tokens without risking seeing your capital melt like snow in the sun . These are often very volatile and it is not uncommon for them to be worthless a few minutes after their creation.
Users must log in to the app via a Telegram bot. A private key is generated upon initial login, and you can create multiple wallets on each blockchain.
Photon: The Trading Bot for Snipers
Photon Interface
Older than BullX, Photon is a bot designed to snipe new tokens , that is, buy them faster than everyone else when they are created. This generally allows you to take advantage of a better price, so you can resell them (often very quickly) at a profit.
Initially developed for Solana, the bot now integrates the Ethereum, Base Blast and Tron blockchains.
The bot allows you to trade on different DEXs , several of which (Pump.fun, Moonshot, etc.) specialize in creating memecoins. Several hundred tokens are created there every day, offering a very wide choice to the most degen.
Much like BullX, Photon offers indicators to assess whether the token is a pure scam or not.
To use it, you’ll need to connect a non-custodial wallet like Metamask (or Phantom for Solana). The app will then generate a new private key (remember to back it up) that will control the addresses you can trade on.
Glider: a bot for Base supported by a16z
Glider Home Page
At the time of writing, Glider is a trading bot project still in beta, backed by venture capital a16z (which has already backed many successful projects such as Uniswap). Although still in development, the project is very promising and could delight traders using Base.
Access to the bot is currently via invitation codes . You can easily find these by visiting the project’s official Discord server. Initially developed on the Base blockchain , Glider plans to expand to other ecosystems in the future.
The platform allows users to:
- Design custom strategies through a modular interface using visually assembleable logic blocks (a bit like early versions of Kryll for those in the know);
- Use and copy pre-existing strategies shared by the community.
Although the interface is intuitive, some familiarity with DeFi tools (non-custodial wallets) and trading indicators (RSI, MACD, etc.) is recommended for effective use.
By using Glider you maintain control of your assets thanks to a non-custodial infrastructure using session keys and smart contracts for operations.
No native token has been officially announced by the team. However, a referral program with rewards should be implemented soon. Since the platform does not currently charge any fees, it will not be able to distribute a portion of them to referrers as is often the case with this type of program. It is therefore likely that these rewards will take the form of a native token . And the airdrop could well boost your profits, especially if you are one of the early adopters.
Criteria for choosing the right trading bots
It is important to understand that nothing is ever certain in the cryptocurrency market , and in financial markets in general. Therefore, you should absolutely avoid trading bots that guarantee performance every month, or any other promise of profits . Before taking action, you must check that the team is reliable and responsive .
Once this initial sorting is done, it is interesting to look at the bot’s history . It is preferable to bet on a bot that has an interesting backtest (interesting performances), but it must also work in real conditions . Sometimes, transaction costs and slippage phenomena are underestimated by the creators of trading bots. Also, you need to know if the trading bot uses strict risk management . Indeed, you should avoid bots that use too much leverage . The robot must not be able to risk its entire portfolio on a trade. Of course, it is absolutely essential to be able to access your funds as quickly as possible.
Understanding Cryptocurrency Trading and Automation
The cryptocurrency industry is nascent, and volatility is still very high . While this volatility can lead to significant gains, trading bots must be adapted to this characteristic. Also, it must be taken into account that Bitcoin dictates its law on the cryptocurrency market , and that only a few altcoins manage to perform independently of BTC. The cryptocurrency market is particularly interesting for trading bots. Since the market is open every day, and at any time, automated systems are extremely interesting in this sector . Indeed, the trading bot can execute positions while we sleep !
The emergence of trading bots predates the arrival of cryptocurrencies. In fact, advertisements began appearing in the late 1990s, highlighting the benefits of trading bots . Trading via bots has become the norm, as they allow for the analysis of a huge amount of data in a very short time. It is estimated that 60% of market transactions come from automated strategies. Simplifying trading bots through solutions like Kryll.io could accelerate the democratization of trading bots .
Introduction to Trading Robots
Trading robots in a nutshell
Trading robots are nothing more or less than the computer translation of a manual trading strategy . These lines of code can be more or less complex depending on the strategy. Whatever happens, this automation allows you to execute buying and selling operations without human intervention . Very often, this requires solid programming knowledge , but there are no-code solutions as we have seen with the Kryll.io platform.
Construction and operation of trading robots
Trading robots can be built from different indicators such as moving averages , momentum indicators ( MACD , RSI, stochastic , etc.) or even volumes. Some trading robots even use artificial intelligence to compile data and identify strategies . With the emergence of social networks, it is now possible to add market sentiment data . Indeed, even if there are more and more trading robots on the financial markets, the sentiment of operators (euphoria/fear) is still very present .
Trading robots are ubiquitous in financial markets
Advantages and disadvantages of using bots in trading
Automated trading has advantages…
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
…And disadvantages
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
Tips and practical advice for using trading bots
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Trading robots: a good diversification solution
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
Now let’s explore trading robots !
Estimated reading time: 20 minutes
Table of Contents
- The Best Crypto Trading Bots for Centralized Platforms
- Cryptohopper: a benchmark in the industry
- 3commas: the trading signals specialist
- Coinrule: a bot for CeFi and DeFi
- The Best Crypto Trading Bots for Decentralized Platforms
- BullX: The Favorite Tool for New Memecoin Hunters
- Photon: The Trading Bot for Snipers
- Glider: a bot for Base supported by a16z
- Criteria for choosing the right trading bots
- Understanding Cryptocurrency Trading and Automation
- Introduction to Trading Robots
- Trading robots in a nutshell
- Construction and operation of trading robots
- Advantages and disadvantages of using bots in trading
- Automated trading has advantages…
- …And disadvantages
- Tips and practical advice for using trading bots
- Trading robots: a good diversification solution
The links in this article are sponsored links. The site may receive compensation if you take action through these links. Thank you for your support!
The Best Crypto Trading Bots for Centralized Platforms
For those of you who are impatient, let’s start with a summary table of the main characteristics of the bots that we will present to you in the rest of the article.
All of them must be connected to a centralized exchange platform (Binance, etc.) using API keys. Indeed, the bots are only responsible for placing buy and sell orders. These orders are then executed by and on the connected platforms.
It’s worth noting that most centralized trading platforms are evolving and now offer trading bots. However, their options are still quite limited compared to those offered by the following robots.
There are, of course, trading bots available on decentralized exchanges. They are less comprehensive, but we’ll introduce some of them in the following paragraphs.
| Name of the Trading Robot | Ease of Creation | Specificities and Functions | Supported Markets | Historical performance | Risk Management | Cost / Fees | Benefits | Disadvantages |
| Cryptohopper | Moderate | DCA, grid trading | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 107 dollars per month depending on the plan chosen | Many platforms supported | Aimed at an informed audience |
| 3commas | Moderate | DCA strategies, grid trading, integration with Tradingview via pinescript and webhook | Cryptocurrencies | History of available strategies | Adjusting Position Sizes on Tradingview | From 0 to 374 dollars per month depending on the plan chosen | Integration with Tradingview, wide choice of strategies / Backtesting | Requires some knowledge of trading / programming (pinescript) |
| Coinrule | Moderate | Over 300 predefined strategies available | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 749 dollars per month depending on the plan chosen | Works with CEX and DEX | Not suitable for high frequency trading |
Comparison table of trading bots for centralized platforms
Cryptohopper: a benchmark in the industry
Cryptohopper Interface
Cryptohopper is one of the most advanced trading platforms on the market . It supports most exchanges, allowing you to spread your assets across multiple platforms while managing them centrally.
The interface is easy to use , and you’ll find a wide range of easily configurable strategies. To understand them, however, you’ll need to have a good understanding of trading , and the tool isn’t necessarily aimed at beginners. For added convenience, you can also choose to copy algorithms developed by other users rather than creating your own.
The tools offered allow in particular to:
- Set up automated DCAs (regular purchase or sale of the same token);
- Arbitrate between platforms;
- Backtest your strategies and practice with fictitious positions;
- Using artificial intelligence to make decisions;
- Participate in competitions;
- …
Several subscription plans are available depending on your profile. The most advanced is quite expensive, but the first is completely free and will allow you to try the platform to see if it’s right for you before investing.
3commas: the trading signals specialist
3commas interface
The features offered by the 3commas platform are more or less the same as those of Cryptohopper. It supports 14 of the largest exchanges on the market.
The trader has the option to create his trading bot via the Tradingview platform. This is done using the pinescript language and a system called webhook.
Plans range from $0 to $327 per month, depending on the number of strategies you want to run.
While the product is interesting, it should be noted that it has been the victim of two hacks that resulted in the loss of users’ funds. The 3commas team’s response was far from satisfactory, falsely accusing them of being the cause of the problems. While there have been no new incidents since October 2023, we still recommend exercising caution and keeping these facts in mind.
Coinrule: a bot for CeFi and DeFi
Coinrule Home Page
Coinrule is an algorithmic trading bot that allows you to automate strategies without prior technical skills. The system executes trades as soon as user-defined market conditions are met.
The platform offers more than 300 predefined strategies , categorized by objective: capital protection, return optimization or exposure to specific sectors. Users can also design their own rules via an intuitive drag-and-drop interface, and test what they would have performed in the past before deployment.
As for integrations, Coinrule supports major exchanges (Binance, Coinbase, Kraken, etc.) and a few DEXs on different blockchains (Ethereum, Base, Arbitrum). Whether it’s DeFi or CeFi, you retain control of your assets. The cryptos remain in their external accounts (CEX or wallet) and the bot only serves to retrieve information and send buy or sell orders.
The tool is primarily aimed at beginners looking for a simple solution and intermediate traders looking to test their strategies. It is less suitable for high-frequency trading.
A free plan allows you to test the platform for a gradual familiarization. It’s recommended to start in demo mode, test with nominal amounts before scaling up, and regularly monitor deployed strategies. The platform excels at automating basic to intermediate strategies but requires a disciplined approach.
Coinrule has also just launched VWAPE, a trading bot for use on Telegram.
The Best Crypto Trading Bots for Decentralized Platforms
The bots below allow you to trade on decentralized platforms. Newer than robots for centralized platforms, they are increasingly used because they allow access to many tokens not yet listed by CEXs.
Unlike CEX, your wallet tokens are stored in a wallet dedicated to you. Make sure you understand who holds the private keys to know who can access your tokens.
To use them, you must be comfortable with non-custodial wallets on mobile and browsers.
| Trading bot name | Ease of use | Specificities and functions | Supported markets | Historical performances | Risk management | Cost / Fees | Benefits | Disadvantages |
| BullX | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Best interface on the market | Risk of significant loss of funds depending on the tokens traded |
| Photon | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Allows you to buy tokens before the mass | Risk of significant loss of funds depending on the tokens traded |
| Glider | Moderate | Developed on Base but will extend to other blockchains | Cryptocurrencies | Depends on users | Managed by user | No fees for now | Very promising | In development |
Comparison table of trading bots for decentralized platforms
BullX: The Favorite Tool for New Memecoin Hunters
BullX Interface
BullX is a bot specifically designed for memecoin trading , but can be used for any token on supported blockchains. Currently, Ethereum, Base, BNB Chain, Arbitrum, Blast, and Solana are supported.
The bot allows you to place classic buy and sell orders on the market, as well as limit orders, stop losses, and take profits. It allows orders to be executed much faster than those who do it “manually,” which is essential for trading low-marketcap tokens with limited liquidity.
The app offers various security audits to prevent users from getting scammed. It’s possible to know at a glance whether the smart contract is modifiable, whether the supply is infinite, whether the tokens are held by a minority of holders, whether the developer has already sold their share, etc.
Getting started with the application is very simple . However, you will need to have a thorough understanding of the market if you want to use the tool with emerging tokens without risking seeing your capital melt like snow in the sun . These are often very volatile and it is not uncommon for them to be worthless a few minutes after their creation.
Users must log in to the app via a Telegram bot. A private key is generated upon initial login, and you can create multiple wallets on each blockchain.
Photon: The Trading Bot for Snipers
Photon Interface
Older than BullX, Photon is a bot designed to snipe new tokens , that is, buy them faster than everyone else when they are created. This generally allows you to take advantage of a better price, so you can resell them (often very quickly) at a profit.
Initially developed for Solana, the bot now integrates the Ethereum, Base Blast and Tron blockchains.
The bot allows you to trade on different DEXs , several of which (Pump.fun, Moonshot, etc.) specialize in creating memecoins. Several hundred tokens are created there every day, offering a very wide choice to the most degen.
Much like BullX, Photon offers indicators to assess whether the token is a pure scam or not.
To use it, you’ll need to connect a non-custodial wallet like Metamask (or Phantom for Solana). The app will then generate a new private key (remember to back it up) that will control the addresses you can trade on.
Glider: a bot for Base supported by a16z
Glider Home Page
At the time of writing, Glider is a trading bot project still in beta, backed by venture capital a16z (which has already backed many successful projects such as Uniswap). Although still in development, the project is very promising and could delight traders using Base.
Access to the bot is currently via invitation codes . You can easily find these by visiting the project’s official Discord server. Initially developed on the Base blockchain , Glider plans to expand to other ecosystems in the future.
The platform allows users to:
- Design custom strategies through a modular interface using visually assembleable logic blocks (a bit like early versions of Kryll for those in the know);
- Use and copy pre-existing strategies shared by the community.
Although the interface is intuitive, some familiarity with DeFi tools (non-custodial wallets) and trading indicators (RSI, MACD, etc.) is recommended for effective use.
By using Glider you maintain control of your assets thanks to a non-custodial infrastructure using session keys and smart contracts for operations.
No native token has been officially announced by the team. However, a referral program with rewards should be implemented soon. Since the platform does not currently charge any fees, it will not be able to distribute a portion of them to referrers as is often the case with this type of program. It is therefore likely that these rewards will take the form of a native token . And the airdrop could well boost your profits, especially if you are one of the early adopters.
Criteria for choosing the right trading bots
It is important to understand that nothing is ever certain in the cryptocurrency market , and in financial markets in general. Therefore, you should absolutely avoid trading bots that guarantee performance every month, or any other promise of profits . Before taking action, you must check that the team is reliable and responsive .
Once this initial sorting is done, it is interesting to look at the bot’s history . It is preferable to bet on a bot that has an interesting backtest (interesting performances), but it must also work in real conditions . Sometimes, transaction costs and slippage phenomena are underestimated by the creators of trading bots. Also, you need to know if the trading bot uses strict risk management . Indeed, you should avoid bots that use too much leverage . The robot must not be able to risk its entire portfolio on a trade. Of course, it is absolutely essential to be able to access your funds as quickly as possible.
Understanding Cryptocurrency Trading and Automation
The cryptocurrency industry is nascent, and volatility is still very high . While this volatility can lead to significant gains, trading bots must be adapted to this characteristic. Also, it must be taken into account that Bitcoin dictates its law on the cryptocurrency market , and that only a few altcoins manage to perform independently of BTC. The cryptocurrency market is particularly interesting for trading bots. Since the market is open every day, and at any time, automated systems are extremely interesting in this sector . Indeed, the trading bot can execute positions while we sleep !
The emergence of trading bots predates the arrival of cryptocurrencies. In fact, advertisements began appearing in the late 1990s, highlighting the benefits of trading bots . Trading via bots has become the norm, as they allow for the analysis of a huge amount of data in a very short time. It is estimated that 60% of market transactions come from automated strategies. Simplifying trading bots through solutions like Kryll.io could accelerate the democratization of trading bots .
Introduction to Trading Robots
Trading robots in a nutshell
Trading robots are nothing more or less than the computer translation of a manual trading strategy . These lines of code can be more or less complex depending on the strategy. Whatever happens, this automation allows you to execute buying and selling operations without human intervention . Very often, this requires solid programming knowledge , but there are no-code solutions as we have seen with the Kryll.io platform.
Construction and operation of trading robots
Trading robots can be built from different indicators such as moving averages , momentum indicators ( MACD , RSI, stochastic , etc.) or even volumes. Some trading robots even use artificial intelligence to compile data and identify strategies . With the emergence of social networks, it is now possible to add market sentiment data . Indeed, even if there are more and more trading robots on the financial markets, the sentiment of operators (euphoria/fear) is still very present .
Trading robots are ubiquitous in financial markets
Advantages and disadvantages of using bots in trading
Automated trading has advantages…
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
…And disadvantages
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
Tips and practical advice for using trading bots
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Trading robots: a good diversification solution
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
Now let’s explore trading robots !
Estimated reading time: 20 minutes
Table of Contents
- The Best Crypto Trading Bots for Centralized Platforms
- Cryptohopper: a benchmark in the industry
- 3commas: the trading signals specialist
- Coinrule: a bot for CeFi and DeFi
- The Best Crypto Trading Bots for Decentralized Platforms
- BullX: The Favorite Tool for New Memecoin Hunters
- Photon: The Trading Bot for Snipers
- Glider: a bot for Base supported by a16z
- Criteria for choosing the right trading bots
- Understanding Cryptocurrency Trading and Automation
- Introduction to Trading Robots
- Trading robots in a nutshell
- Construction and operation of trading robots
- Advantages and disadvantages of using bots in trading
- Automated trading has advantages…
- …And disadvantages
- Tips and practical advice for using trading bots
- Trading robots: a good diversification solution
The links in this article are sponsored links. The site may receive compensation if you take action through these links. Thank you for your support!
The Best Crypto Trading Bots for Centralized Platforms
For those of you who are impatient, let’s start with a summary table of the main characteristics of the bots that we will present to you in the rest of the article.
All of them must be connected to a centralized exchange platform (Binance, etc.) using API keys. Indeed, the bots are only responsible for placing buy and sell orders. These orders are then executed by and on the connected platforms.
It’s worth noting that most centralized trading platforms are evolving and now offer trading bots. However, their options are still quite limited compared to those offered by the following robots.
There are, of course, trading bots available on decentralized exchanges. They are less comprehensive, but we’ll introduce some of them in the following paragraphs.
| Name of the Trading Robot | Ease of Creation | Specificities and Functions | Supported Markets | Historical performance | Risk Management | Cost / Fees | Benefits | Disadvantages |
| Cryptohopper | Moderate | DCA, grid trading | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 107 dollars per month depending on the plan chosen | Many platforms supported | Aimed at an informed audience |
| 3commas | Moderate | DCA strategies, grid trading, integration with Tradingview via pinescript and webhook | Cryptocurrencies | History of available strategies | Adjusting Position Sizes on Tradingview | From 0 to 374 dollars per month depending on the plan chosen | Integration with Tradingview, wide choice of strategies / Backtesting | Requires some knowledge of trading / programming (pinescript) |
| Coinrule | Moderate | Over 300 predefined strategies available | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 749 dollars per month depending on the plan chosen | Works with CEX and DEX | Not suitable for high frequency trading |
Comparison table of trading bots for centralized platforms
Cryptohopper: a benchmark in the industry
Cryptohopper Interface
Cryptohopper is one of the most advanced trading platforms on the market . It supports most exchanges, allowing you to spread your assets across multiple platforms while managing them centrally.
The interface is easy to use , and you’ll find a wide range of easily configurable strategies. To understand them, however, you’ll need to have a good understanding of trading , and the tool isn’t necessarily aimed at beginners. For added convenience, you can also choose to copy algorithms developed by other users rather than creating your own.
The tools offered allow in particular to:
- Set up automated DCAs (regular purchase or sale of the same token);
- Arbitrate between platforms;
- Backtest your strategies and practice with fictitious positions;
- Using artificial intelligence to make decisions;
- Participate in competitions;
- …
Several subscription plans are available depending on your profile. The most advanced is quite expensive, but the first is completely free and will allow you to try the platform to see if it’s right for you before investing.
3commas: the trading signals specialist
3commas interface
The features offered by the 3commas platform are more or less the same as those of Cryptohopper. It supports 14 of the largest exchanges on the market.
The trader has the option to create his trading bot via the Tradingview platform. This is done using the pinescript language and a system called webhook.
Plans range from $0 to $327 per month, depending on the number of strategies you want to run.
While the product is interesting, it should be noted that it has been the victim of two hacks that resulted in the loss of users’ funds. The 3commas team’s response was far from satisfactory, falsely accusing them of being the cause of the problems. While there have been no new incidents since October 2023, we still recommend exercising caution and keeping these facts in mind.
Coinrule: a bot for CeFi and DeFi
Coinrule Home Page
Coinrule is an algorithmic trading bot that allows you to automate strategies without prior technical skills. The system executes trades as soon as user-defined market conditions are met.
The platform offers more than 300 predefined strategies , categorized by objective: capital protection, return optimization or exposure to specific sectors. Users can also design their own rules via an intuitive drag-and-drop interface, and test what they would have performed in the past before deployment.
As for integrations, Coinrule supports major exchanges (Binance, Coinbase, Kraken, etc.) and a few DEXs on different blockchains (Ethereum, Base, Arbitrum). Whether it’s DeFi or CeFi, you retain control of your assets. The cryptos remain in their external accounts (CEX or wallet) and the bot only serves to retrieve information and send buy or sell orders.
The tool is primarily aimed at beginners looking for a simple solution and intermediate traders looking to test their strategies. It is less suitable for high-frequency trading.
A free plan allows you to test the platform for a gradual familiarization. It’s recommended to start in demo mode, test with nominal amounts before scaling up, and regularly monitor deployed strategies. The platform excels at automating basic to intermediate strategies but requires a disciplined approach.
Coinrule has also just launched VWAPE, a trading bot for use on Telegram.
The Best Crypto Trading Bots for Decentralized Platforms
The bots below allow you to trade on decentralized platforms. Newer than robots for centralized platforms, they are increasingly used because they allow access to many tokens not yet listed by CEXs.
Unlike CEX, your wallet tokens are stored in a wallet dedicated to you. Make sure you understand who holds the private keys to know who can access your tokens.
To use them, you must be comfortable with non-custodial wallets on mobile and browsers.
| Trading bot name | Ease of use | Specificities and functions | Supported markets | Historical performances | Risk management | Cost / Fees | Benefits | Disadvantages |
| BullX | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Best interface on the market | Risk of significant loss of funds depending on the tokens traded |
| Photon | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Allows you to buy tokens before the mass | Risk of significant loss of funds depending on the tokens traded |
| Glider | Moderate | Developed on Base but will extend to other blockchains | Cryptocurrencies | Depends on users | Managed by user | No fees for now | Very promising | In development |
Comparison table of trading bots for decentralized platforms
BullX: The Favorite Tool for New Memecoin Hunters
BullX Interface
BullX is a bot specifically designed for memecoin trading , but can be used for any token on supported blockchains. Currently, Ethereum, Base, BNB Chain, Arbitrum, Blast, and Solana are supported.
The bot allows you to place classic buy and sell orders on the market, as well as limit orders, stop losses, and take profits. It allows orders to be executed much faster than those who do it “manually,” which is essential for trading low-marketcap tokens with limited liquidity.
The app offers various security audits to prevent users from getting scammed. It’s possible to know at a glance whether the smart contract is modifiable, whether the supply is infinite, whether the tokens are held by a minority of holders, whether the developer has already sold their share, etc.
Getting started with the application is very simple . However, you will need to have a thorough understanding of the market if you want to use the tool with emerging tokens without risking seeing your capital melt like snow in the sun . These are often very volatile and it is not uncommon for them to be worthless a few minutes after their creation.
Users must log in to the app via a Telegram bot. A private key is generated upon initial login, and you can create multiple wallets on each blockchain.
Photon: The Trading Bot for Snipers
Photon Interface
Older than BullX, Photon is a bot designed to snipe new tokens , that is, buy them faster than everyone else when they are created. This generally allows you to take advantage of a better price, so you can resell them (often very quickly) at a profit.
Initially developed for Solana, the bot now integrates the Ethereum, Base Blast and Tron blockchains.
The bot allows you to trade on different DEXs , several of which (Pump.fun, Moonshot, etc.) specialize in creating memecoins. Several hundred tokens are created there every day, offering a very wide choice to the most degen.
Much like BullX, Photon offers indicators to assess whether the token is a pure scam or not.
To use it, you’ll need to connect a non-custodial wallet like Metamask (or Phantom for Solana). The app will then generate a new private key (remember to back it up) that will control the addresses you can trade on.
Glider: a bot for Base supported by a16z
Glider Home Page
At the time of writing, Glider is a trading bot project still in beta, backed by venture capital a16z (which has already backed many successful projects such as Uniswap). Although still in development, the project is very promising and could delight traders using Base.
Access to the bot is currently via invitation codes . You can easily find these by visiting the project’s official Discord server. Initially developed on the Base blockchain , Glider plans to expand to other ecosystems in the future.
The platform allows users to:
- Design custom strategies through a modular interface using visually assembleable logic blocks (a bit like early versions of Kryll for those in the know);
- Use and copy pre-existing strategies shared by the community.
Although the interface is intuitive, some familiarity with DeFi tools (non-custodial wallets) and trading indicators (RSI, MACD, etc.) is recommended for effective use.
By using Glider you maintain control of your assets thanks to a non-custodial infrastructure using session keys and smart contracts for operations.
No native token has been officially announced by the team. However, a referral program with rewards should be implemented soon. Since the platform does not currently charge any fees, it will not be able to distribute a portion of them to referrers as is often the case with this type of program. It is therefore likely that these rewards will take the form of a native token . And the airdrop could well boost your profits, especially if you are one of the early adopters.
Criteria for choosing the right trading bots
It is important to understand that nothing is ever certain in the cryptocurrency market , and in financial markets in general. Therefore, you should absolutely avoid trading bots that guarantee performance every month, or any other promise of profits . Before taking action, you must check that the team is reliable and responsive .
Once this initial sorting is done, it is interesting to look at the bot’s history . It is preferable to bet on a bot that has an interesting backtest (interesting performances), but it must also work in real conditions . Sometimes, transaction costs and slippage phenomena are underestimated by the creators of trading bots. Also, you need to know if the trading bot uses strict risk management . Indeed, you should avoid bots that use too much leverage . The robot must not be able to risk its entire portfolio on a trade. Of course, it is absolutely essential to be able to access your funds as quickly as possible.
Understanding Cryptocurrency Trading and Automation
The cryptocurrency industry is nascent, and volatility is still very high . While this volatility can lead to significant gains, trading bots must be adapted to this characteristic. Also, it must be taken into account that Bitcoin dictates its law on the cryptocurrency market , and that only a few altcoins manage to perform independently of BTC. The cryptocurrency market is particularly interesting for trading bots. Since the market is open every day, and at any time, automated systems are extremely interesting in this sector . Indeed, the trading bot can execute positions while we sleep !
The emergence of trading bots predates the arrival of cryptocurrencies. In fact, advertisements began appearing in the late 1990s, highlighting the benefits of trading bots . Trading via bots has become the norm, as they allow for the analysis of a huge amount of data in a very short time. It is estimated that 60% of market transactions come from automated strategies. Simplifying trading bots through solutions like Kryll.io could accelerate the democratization of trading bots .
Introduction to Trading Robots
Trading robots in a nutshell
Trading robots are nothing more or less than the computer translation of a manual trading strategy . These lines of code can be more or less complex depending on the strategy. Whatever happens, this automation allows you to execute buying and selling operations without human intervention . Very often, this requires solid programming knowledge , but there are no-code solutions as we have seen with the Kryll.io platform.
Construction and operation of trading robots
Trading robots can be built from different indicators such as moving averages , momentum indicators ( MACD , RSI, stochastic , etc.) or even volumes. Some trading robots even use artificial intelligence to compile data and identify strategies . With the emergence of social networks, it is now possible to add market sentiment data . Indeed, even if there are more and more trading robots on the financial markets, the sentiment of operators (euphoria/fear) is still very present .
Trading robots are ubiquitous in financial markets
Advantages and disadvantages of using bots in trading
Automated trading has advantages…
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
…And disadvantages
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
Tips and practical advice for using trading bots
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Trading robots: a good diversification solution
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
Now let’s explore trading robots !
Estimated reading time: 20 minutes
Table of Contents
- The Best Crypto Trading Bots for Centralized Platforms
- Cryptohopper: a benchmark in the industry
- 3commas: the trading signals specialist
- Coinrule: a bot for CeFi and DeFi
- The Best Crypto Trading Bots for Decentralized Platforms
- BullX: The Favorite Tool for New Memecoin Hunters
- Photon: The Trading Bot for Snipers
- Glider: a bot for Base supported by a16z
- Criteria for choosing the right trading bots
- Understanding Cryptocurrency Trading and Automation
- Introduction to Trading Robots
- Trading robots in a nutshell
- Construction and operation of trading robots
- Advantages and disadvantages of using bots in trading
- Automated trading has advantages…
- …And disadvantages
- Tips and practical advice for using trading bots
- Trading robots: a good diversification solution
The links in this article are sponsored links. The site may receive compensation if you take action through these links. Thank you for your support!
The Best Crypto Trading Bots for Centralized Platforms
For those of you who are impatient, let’s start with a summary table of the main characteristics of the bots that we will present to you in the rest of the article.
All of them must be connected to a centralized exchange platform (Binance, etc.) using API keys. Indeed, the bots are only responsible for placing buy and sell orders. These orders are then executed by and on the connected platforms.
It’s worth noting that most centralized trading platforms are evolving and now offer trading bots. However, their options are still quite limited compared to those offered by the following robots.
There are, of course, trading bots available on decentralized exchanges. They are less comprehensive, but we’ll introduce some of them in the following paragraphs.
| Name of the Trading Robot | Ease of Creation | Specificities and Functions | Supported Markets | Historical performance | Risk Management | Cost / Fees | Benefits | Disadvantages |
| Cryptohopper | Moderate | DCA, grid trading | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 107 dollars per month depending on the plan chosen | Many platforms supported | Aimed at an informed audience |
| 3commas | Moderate | DCA strategies, grid trading, integration with Tradingview via pinescript and webhook | Cryptocurrencies | History of available strategies | Adjusting Position Sizes on Tradingview | From 0 to 374 dollars per month depending on the plan chosen | Integration with Tradingview, wide choice of strategies / Backtesting | Requires some knowledge of trading / programming (pinescript) |
| Coinrule | Moderate | Over 300 predefined strategies available | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 749 dollars per month depending on the plan chosen | Works with CEX and DEX | Not suitable for high frequency trading |
Comparison table of trading bots for centralized platforms
Cryptohopper: a benchmark in the industry
Cryptohopper Interface
Cryptohopper is one of the most advanced trading platforms on the market . It supports most exchanges, allowing you to spread your assets across multiple platforms while managing them centrally.
The interface is easy to use , and you’ll find a wide range of easily configurable strategies. To understand them, however, you’ll need to have a good understanding of trading , and the tool isn’t necessarily aimed at beginners. For added convenience, you can also choose to copy algorithms developed by other users rather than creating your own.
The tools offered allow in particular to:
- Set up automated DCAs (regular purchase or sale of the same token);
- Arbitrate between platforms;
- Backtest your strategies and practice with fictitious positions;
- Using artificial intelligence to make decisions;
- Participate in competitions;
- …
Several subscription plans are available depending on your profile. The most advanced is quite expensive, but the first is completely free and will allow you to try the platform to see if it’s right for you before investing.
3commas: the trading signals specialist
3commas interface
The features offered by the 3commas platform are more or less the same as those of Cryptohopper. It supports 14 of the largest exchanges on the market.
The trader has the option to create his trading bot via the Tradingview platform. This is done using the pinescript language and a system called webhook.
Plans range from $0 to $327 per month, depending on the number of strategies you want to run.
While the product is interesting, it should be noted that it has been the victim of two hacks that resulted in the loss of users’ funds. The 3commas team’s response was far from satisfactory, falsely accusing them of being the cause of the problems. While there have been no new incidents since October 2023, we still recommend exercising caution and keeping these facts in mind.
Coinrule: a bot for CeFi and DeFi
Coinrule Home Page
Coinrule is an algorithmic trading bot that allows you to automate strategies without prior technical skills. The system executes trades as soon as user-defined market conditions are met.
The platform offers more than 300 predefined strategies , categorized by objective: capital protection, return optimization or exposure to specific sectors. Users can also design their own rules via an intuitive drag-and-drop interface, and test what they would have performed in the past before deployment.
As for integrations, Coinrule supports major exchanges (Binance, Coinbase, Kraken, etc.) and a few DEXs on different blockchains (Ethereum, Base, Arbitrum). Whether it’s DeFi or CeFi, you retain control of your assets. The cryptos remain in their external accounts (CEX or wallet) and the bot only serves to retrieve information and send buy or sell orders.
The tool is primarily aimed at beginners looking for a simple solution and intermediate traders looking to test their strategies. It is less suitable for high-frequency trading.
A free plan allows you to test the platform for a gradual familiarization. It’s recommended to start in demo mode, test with nominal amounts before scaling up, and regularly monitor deployed strategies. The platform excels at automating basic to intermediate strategies but requires a disciplined approach.
Coinrule has also just launched VWAPE, a trading bot for use on Telegram.
The Best Crypto Trading Bots for Decentralized Platforms
The bots below allow you to trade on decentralized platforms. Newer than robots for centralized platforms, they are increasingly used because they allow access to many tokens not yet listed by CEXs.
Unlike CEX, your wallet tokens are stored in a wallet dedicated to you. Make sure you understand who holds the private keys to know who can access your tokens.
To use them, you must be comfortable with non-custodial wallets on mobile and browsers.
| Trading bot name | Ease of use | Specificities and functions | Supported markets | Historical performances | Risk management | Cost / Fees | Benefits | Disadvantages |
| BullX | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Best interface on the market | Risk of significant loss of funds depending on the tokens traded |
| Photon | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Allows you to buy tokens before the mass | Risk of significant loss of funds depending on the tokens traded |
| Glider | Moderate | Developed on Base but will extend to other blockchains | Cryptocurrencies | Depends on users | Managed by user | No fees for now | Very promising | In development |
Comparison table of trading bots for decentralized platforms
BullX: The Favorite Tool for New Memecoin Hunters
BullX Interface
BullX is a bot specifically designed for memecoin trading , but can be used for any token on supported blockchains. Currently, Ethereum, Base, BNB Chain, Arbitrum, Blast, and Solana are supported.
The bot allows you to place classic buy and sell orders on the market, as well as limit orders, stop losses, and take profits. It allows orders to be executed much faster than those who do it “manually,” which is essential for trading low-marketcap tokens with limited liquidity.
The app offers various security audits to prevent users from getting scammed. It’s possible to know at a glance whether the smart contract is modifiable, whether the supply is infinite, whether the tokens are held by a minority of holders, whether the developer has already sold their share, etc.
Getting started with the application is very simple . However, you will need to have a thorough understanding of the market if you want to use the tool with emerging tokens without risking seeing your capital melt like snow in the sun . These are often very volatile and it is not uncommon for them to be worthless a few minutes after their creation.
Users must log in to the app via a Telegram bot. A private key is generated upon initial login, and you can create multiple wallets on each blockchain.
Photon: The Trading Bot for Snipers
Photon Interface
Older than BullX, Photon is a bot designed to snipe new tokens , that is, buy them faster than everyone else when they are created. This generally allows you to take advantage of a better price, so you can resell them (often very quickly) at a profit.
Initially developed for Solana, the bot now integrates the Ethereum, Base Blast and Tron blockchains.
The bot allows you to trade on different DEXs , several of which (Pump.fun, Moonshot, etc.) specialize in creating memecoins. Several hundred tokens are created there every day, offering a very wide choice to the most degen.
Much like BullX, Photon offers indicators to assess whether the token is a pure scam or not.
To use it, you’ll need to connect a non-custodial wallet like Metamask (or Phantom for Solana). The app will then generate a new private key (remember to back it up) that will control the addresses you can trade on.
Glider: a bot for Base supported by a16z
Glider Home Page
At the time of writing, Glider is a trading bot project still in beta, backed by venture capital a16z (which has already backed many successful projects such as Uniswap). Although still in development, the project is very promising and could delight traders using Base.
Access to the bot is currently via invitation codes . You can easily find these by visiting the project’s official Discord server. Initially developed on the Base blockchain , Glider plans to expand to other ecosystems in the future.
The platform allows users to:
- Design custom strategies through a modular interface using visually assembleable logic blocks (a bit like early versions of Kryll for those in the know);
- Use and copy pre-existing strategies shared by the community.
Although the interface is intuitive, some familiarity with DeFi tools (non-custodial wallets) and trading indicators (RSI, MACD, etc.) is recommended for effective use.
By using Glider you maintain control of your assets thanks to a non-custodial infrastructure using session keys and smart contracts for operations.
No native token has been officially announced by the team. However, a referral program with rewards should be implemented soon. Since the platform does not currently charge any fees, it will not be able to distribute a portion of them to referrers as is often the case with this type of program. It is therefore likely that these rewards will take the form of a native token . And the airdrop could well boost your profits, especially if you are one of the early adopters.
Criteria for choosing the right trading bots
It is important to understand that nothing is ever certain in the cryptocurrency market , and in financial markets in general. Therefore, you should absolutely avoid trading bots that guarantee performance every month, or any other promise of profits . Before taking action, you must check that the team is reliable and responsive .
Once this initial sorting is done, it is interesting to look at the bot’s history . It is preferable to bet on a bot that has an interesting backtest (interesting performances), but it must also work in real conditions . Sometimes, transaction costs and slippage phenomena are underestimated by the creators of trading bots. Also, you need to know if the trading bot uses strict risk management . Indeed, you should avoid bots that use too much leverage . The robot must not be able to risk its entire portfolio on a trade. Of course, it is absolutely essential to be able to access your funds as quickly as possible.
Understanding Cryptocurrency Trading and Automation
The cryptocurrency industry is nascent, and volatility is still very high . While this volatility can lead to significant gains, trading bots must be adapted to this characteristic. Also, it must be taken into account that Bitcoin dictates its law on the cryptocurrency market , and that only a few altcoins manage to perform independently of BTC. The cryptocurrency market is particularly interesting for trading bots. Since the market is open every day, and at any time, automated systems are extremely interesting in this sector . Indeed, the trading bot can execute positions while we sleep !
The emergence of trading bots predates the arrival of cryptocurrencies. In fact, advertisements began appearing in the late 1990s, highlighting the benefits of trading bots . Trading via bots has become the norm, as they allow for the analysis of a huge amount of data in a very short time. It is estimated that 60% of market transactions come from automated strategies. Simplifying trading bots through solutions like Kryll.io could accelerate the democratization of trading bots .
Introduction to Trading Robots
Trading robots in a nutshell
Trading robots are nothing more or less than the computer translation of a manual trading strategy . These lines of code can be more or less complex depending on the strategy. Whatever happens, this automation allows you to execute buying and selling operations without human intervention . Very often, this requires solid programming knowledge , but there are no-code solutions as we have seen with the Kryll.io platform.
Construction and operation of trading robots
Trading robots can be built from different indicators such as moving averages , momentum indicators ( MACD , RSI, stochastic , etc.) or even volumes. Some trading robots even use artificial intelligence to compile data and identify strategies . With the emergence of social networks, it is now possible to add market sentiment data . Indeed, even if there are more and more trading robots on the financial markets, the sentiment of operators (euphoria/fear) is still very present .
Trading robots are ubiquitous in financial markets
Advantages and disadvantages of using bots in trading
Automated trading has advantages…
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
…And disadvantages
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
Tips and practical advice for using trading bots
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Trading robots: a good diversification solution
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
Estimated reading time: 20 minutes
Table of Contents
- The Best Crypto Trading Bots for Centralized Platforms
- Cryptohopper: a benchmark in the industry
- 3commas: the trading signals specialist
- Coinrule: a bot for CeFi and DeFi
- The Best Crypto Trading Bots for Decentralized Platforms
- BullX: The Favorite Tool for New Memecoin Hunters
- Photon: The Trading Bot for Snipers
- Glider: a bot for Base supported by a16z
- Criteria for choosing the right trading bots
- Understanding Cryptocurrency Trading and Automation
- Introduction to Trading Robots
- Trading robots in a nutshell
- Construction and operation of trading robots
- Advantages and disadvantages of using bots in trading
- Automated trading has advantages…
- …And disadvantages
- Tips and practical advice for using trading bots
- Trading robots: a good diversification solution
The links in this article are sponsored links. The site may receive compensation if you take action through these links. Thank you for your support!
The Best Crypto Trading Bots for Centralized Platforms
For those of you who are impatient, let’s start with a summary table of the main characteristics of the bots that we will present to you in the rest of the article.
All of them must be connected to a centralized exchange platform (Binance, etc.) using API keys. Indeed, the bots are only responsible for placing buy and sell orders. These orders are then executed by and on the connected platforms.
It’s worth noting that most centralized trading platforms are evolving and now offer trading bots. However, their options are still quite limited compared to those offered by the following robots.
There are, of course, trading bots available on decentralized exchanges. They are less comprehensive, but we’ll introduce some of them in the following paragraphs.
| Name of the Trading Robot | Ease of Creation | Specificities and Functions | Supported Markets | Historical performance | Risk Management | Cost / Fees | Benefits | Disadvantages |
| Cryptohopper | Moderate | DCA, grid trading | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 107 dollars per month depending on the plan chosen | Many platforms supported | Aimed at an informed audience |
| 3commas | Moderate | DCA strategies, grid trading, integration with Tradingview via pinescript and webhook | Cryptocurrencies | History of available strategies | Adjusting Position Sizes on Tradingview | From 0 to 374 dollars per month depending on the plan chosen | Integration with Tradingview, wide choice of strategies / Backtesting | Requires some knowledge of trading / programming (pinescript) |
| Coinrule | Moderate | Over 300 predefined strategies available | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 749 dollars per month depending on the plan chosen | Works with CEX and DEX | Not suitable for high frequency trading |
Comparison table of trading bots for centralized platforms
Cryptohopper: a benchmark in the industry
Cryptohopper Interface
Cryptohopper is one of the most advanced trading platforms on the market . It supports most exchanges, allowing you to spread your assets across multiple platforms while managing them centrally.
The interface is easy to use , and you’ll find a wide range of easily configurable strategies. To understand them, however, you’ll need to have a good understanding of trading , and the tool isn’t necessarily aimed at beginners. For added convenience, you can also choose to copy algorithms developed by other users rather than creating your own.
The tools offered allow in particular to:
- Set up automated DCAs (regular purchase or sale of the same token);
- Arbitrate between platforms;
- Backtest your strategies and practice with fictitious positions;
- Using artificial intelligence to make decisions;
- Participate in competitions;
- …
Several subscription plans are available depending on your profile. The most advanced is quite expensive, but the first is completely free and will allow you to try the platform to see if it’s right for you before investing.
3commas: the trading signals specialist
3commas interface
The features offered by the 3commas platform are more or less the same as those of Cryptohopper. It supports 14 of the largest exchanges on the market.
The trader has the option to create his trading bot via the Tradingview platform. This is done using the pinescript language and a system called webhook.
Plans range from $0 to $327 per month, depending on the number of strategies you want to run.
While the product is interesting, it should be noted that it has been the victim of two hacks that resulted in the loss of users’ funds. The 3commas team’s response was far from satisfactory, falsely accusing them of being the cause of the problems. While there have been no new incidents since October 2023, we still recommend exercising caution and keeping these facts in mind.
Coinrule: a bot for CeFi and DeFi
Coinrule Home Page
Coinrule is an algorithmic trading bot that allows you to automate strategies without prior technical skills. The system executes trades as soon as user-defined market conditions are met.
The platform offers more than 300 predefined strategies , categorized by objective: capital protection, return optimization or exposure to specific sectors. Users can also design their own rules via an intuitive drag-and-drop interface, and test what they would have performed in the past before deployment.
As for integrations, Coinrule supports major exchanges (Binance, Coinbase, Kraken, etc.) and a few DEXs on different blockchains (Ethereum, Base, Arbitrum). Whether it’s DeFi or CeFi, you retain control of your assets. The cryptos remain in their external accounts (CEX or wallet) and the bot only serves to retrieve information and send buy or sell orders.
The tool is primarily aimed at beginners looking for a simple solution and intermediate traders looking to test their strategies. It is less suitable for high-frequency trading.
A free plan allows you to test the platform for a gradual familiarization. It’s recommended to start in demo mode, test with nominal amounts before scaling up, and regularly monitor deployed strategies. The platform excels at automating basic to intermediate strategies but requires a disciplined approach.
Coinrule has also just launched VWAPE, a trading bot for use on Telegram.
The Best Crypto Trading Bots for Decentralized Platforms
The bots below allow you to trade on decentralized platforms. Newer than robots for centralized platforms, they are increasingly used because they allow access to many tokens not yet listed by CEXs.
Unlike CEX, your wallet tokens are stored in a wallet dedicated to you. Make sure you understand who holds the private keys to know who can access your tokens.
To use them, you must be comfortable with non-custodial wallets on mobile and browsers.
| Trading bot name | Ease of use | Specificities and functions | Supported markets | Historical performances | Risk management | Cost / Fees | Benefits | Disadvantages |
| BullX | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Best interface on the market | Risk of significant loss of funds depending on the tokens traded |
| Photon | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Allows you to buy tokens before the mass | Risk of significant loss of funds depending on the tokens traded |
| Glider | Moderate | Developed on Base but will extend to other blockchains | Cryptocurrencies | Depends on users | Managed by user | No fees for now | Very promising | In development |
Comparison table of trading bots for decentralized platforms
BullX: The Favorite Tool for New Memecoin Hunters
BullX Interface
BullX is a bot specifically designed for memecoin trading , but can be used for any token on supported blockchains. Currently, Ethereum, Base, BNB Chain, Arbitrum, Blast, and Solana are supported.
The bot allows you to place classic buy and sell orders on the market, as well as limit orders, stop losses, and take profits. It allows orders to be executed much faster than those who do it “manually,” which is essential for trading low-marketcap tokens with limited liquidity.
The app offers various security audits to prevent users from getting scammed. It’s possible to know at a glance whether the smart contract is modifiable, whether the supply is infinite, whether the tokens are held by a minority of holders, whether the developer has already sold their share, etc.
Getting started with the application is very simple . However, you will need to have a thorough understanding of the market if you want to use the tool with emerging tokens without risking seeing your capital melt like snow in the sun . These are often very volatile and it is not uncommon for them to be worthless a few minutes after their creation.
Users must log in to the app via a Telegram bot. A private key is generated upon initial login, and you can create multiple wallets on each blockchain.
Photon: The Trading Bot for Snipers
Photon Interface
Older than BullX, Photon is a bot designed to snipe new tokens , that is, buy them faster than everyone else when they are created. This generally allows you to take advantage of a better price, so you can resell them (often very quickly) at a profit.
Initially developed for Solana, the bot now integrates the Ethereum, Base Blast and Tron blockchains.
The bot allows you to trade on different DEXs , several of which (Pump.fun, Moonshot, etc.) specialize in creating memecoins. Several hundred tokens are created there every day, offering a very wide choice to the most degen.
Much like BullX, Photon offers indicators to assess whether the token is a pure scam or not.
To use it, you’ll need to connect a non-custodial wallet like Metamask (or Phantom for Solana). The app will then generate a new private key (remember to back it up) that will control the addresses you can trade on.
Glider: a bot for Base supported by a16z
Glider Home Page
At the time of writing, Glider is a trading bot project still in beta, backed by venture capital a16z (which has already backed many successful projects such as Uniswap). Although still in development, the project is very promising and could delight traders using Base.
Access to the bot is currently via invitation codes . You can easily find these by visiting the project’s official Discord server. Initially developed on the Base blockchain , Glider plans to expand to other ecosystems in the future.
The platform allows users to:
- Design custom strategies through a modular interface using visually assembleable logic blocks (a bit like early versions of Kryll for those in the know);
- Use and copy pre-existing strategies shared by the community.
Although the interface is intuitive, some familiarity with DeFi tools (non-custodial wallets) and trading indicators (RSI, MACD, etc.) is recommended for effective use.
By using Glider you maintain control of your assets thanks to a non-custodial infrastructure using session keys and smart contracts for operations.
No native token has been officially announced by the team. However, a referral program with rewards should be implemented soon. Since the platform does not currently charge any fees, it will not be able to distribute a portion of them to referrers as is often the case with this type of program. It is therefore likely that these rewards will take the form of a native token . And the airdrop could well boost your profits, especially if you are one of the early adopters.
Criteria for choosing the right trading bots
It is important to understand that nothing is ever certain in the cryptocurrency market , and in financial markets in general. Therefore, you should absolutely avoid trading bots that guarantee performance every month, or any other promise of profits . Before taking action, you must check that the team is reliable and responsive .
Once this initial sorting is done, it is interesting to look at the bot’s history . It is preferable to bet on a bot that has an interesting backtest (interesting performances), but it must also work in real conditions . Sometimes, transaction costs and slippage phenomena are underestimated by the creators of trading bots. Also, you need to know if the trading bot uses strict risk management . Indeed, you should avoid bots that use too much leverage . The robot must not be able to risk its entire portfolio on a trade. Of course, it is absolutely essential to be able to access your funds as quickly as possible.
Understanding Cryptocurrency Trading and Automation
The cryptocurrency industry is nascent, and volatility is still very high . While this volatility can lead to significant gains, trading bots must be adapted to this characteristic. Also, it must be taken into account that Bitcoin dictates its law on the cryptocurrency market , and that only a few altcoins manage to perform independently of BTC. The cryptocurrency market is particularly interesting for trading bots. Since the market is open every day, and at any time, automated systems are extremely interesting in this sector . Indeed, the trading bot can execute positions while we sleep !
The emergence of trading bots predates the arrival of cryptocurrencies. In fact, advertisements began appearing in the late 1990s, highlighting the benefits of trading bots . Trading via bots has become the norm, as they allow for the analysis of a huge amount of data in a very short time. It is estimated that 60% of market transactions come from automated strategies. Simplifying trading bots through solutions like Kryll.io could accelerate the democratization of trading bots .
Introduction to Trading Robots
Trading robots in a nutshell
Trading robots are nothing more or less than the computer translation of a manual trading strategy . These lines of code can be more or less complex depending on the strategy. Whatever happens, this automation allows you to execute buying and selling operations without human intervention . Very often, this requires solid programming knowledge , but there are no-code solutions as we have seen with the Kryll.io platform.
Construction and operation of trading robots
Trading robots can be built from different indicators such as moving averages , momentum indicators ( MACD , RSI, stochastic , etc.) or even volumes. Some trading robots even use artificial intelligence to compile data and identify strategies . With the emergence of social networks, it is now possible to add market sentiment data . Indeed, even if there are more and more trading robots on the financial markets, the sentiment of operators (euphoria/fear) is still very present .
Trading robots are ubiquitous in financial markets
Advantages and disadvantages of using bots in trading
Automated trading has advantages…
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
…And disadvantages
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
Tips and practical advice for using trading bots
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Trading robots: a good diversification solution
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
Estimated reading time: 20 minutes
The links in this article are sponsored links. The site may receive compensation if you take action through these links. Thank you for your support!
The Best Crypto Trading Bots for Centralized Platforms
For those of you who are impatient, let’s start with a summary table of the main characteristics of the bots that we will present to you in the rest of the article.
All of them must be connected to a centralized exchange platform (Binance, etc.) using API keys. Indeed, the bots are only responsible for placing buy and sell orders. These orders are then executed by and on the connected platforms.
It’s worth noting that most centralized trading platforms are evolving and now offer trading bots. However, their options are still quite limited compared to those offered by the following robots.
There are, of course, trading bots available on decentralized exchanges. They are less comprehensive, but we’ll introduce some of them in the following paragraphs.
| Name of the Trading Robot | Ease of Creation | Specificities and Functions | Supported Markets | Historical performance | Risk Management | Cost / Fees | Benefits | Disadvantages |
| Cryptohopper | Moderate | DCA, grid trading | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 107 dollars per month depending on the plan chosen | Many platforms supported | Aimed at an informed audience |
| 3commas | Moderate | DCA strategies, grid trading, integration with Tradingview via pinescript and webhook | Cryptocurrencies | History of available strategies | Adjusting Position Sizes on Tradingview | From 0 to 374 dollars per month depending on the plan chosen | Integration with Tradingview, wide choice of strategies / Backtesting | Requires some knowledge of trading / programming (pinescript) |
| Coinrule | Moderate | Over 300 predefined strategies available | Cryptocurrencies | History of available strategies | Managed by user | From 0 to 749 dollars per month depending on the plan chosen | Works with CEX and DEX | Not suitable for high frequency trading |
Comparison table of trading bots for centralized platforms
Cryptohopper: a benchmark in the industry
Cryptohopper Interface
Cryptohopper is one of the most advanced trading platforms on the market . It supports most exchanges, allowing you to spread your assets across multiple platforms while managing them centrally.
The interface is easy to use , and you’ll find a wide range of easily configurable strategies. To understand them, however, you’ll need to have a good understanding of trading , and the tool isn’t necessarily aimed at beginners. For added convenience, you can also choose to copy algorithms developed by other users rather than creating your own.
The tools offered allow in particular to:
- Set up automated DCAs (regular purchase or sale of the same token);
- Arbitrate between platforms;
- Backtest your strategies and practice with fictitious positions;
- Using artificial intelligence to make decisions;
- Participate in competitions;
- …
Several subscription plans are available depending on your profile. The most advanced is quite expensive, but the first is completely free and will allow you to try the platform to see if it’s right for you before investing.
3commas: the trading signals specialist
3commas interface
The features offered by the 3commas platform are more or less the same as those of Cryptohopper. It supports 14 of the largest exchanges on the market.
The trader has the option to create his trading bot via the Tradingview platform. This is done using the pinescript language and a system called webhook.
Plans range from $0 to $327 per month, depending on the number of strategies you want to run.
While the product is interesting, it should be noted that it has been the victim of two hacks that resulted in the loss of users’ funds. The 3commas team’s response was far from satisfactory, falsely accusing them of being the cause of the problems. While there have been no new incidents since October 2023, we still recommend exercising caution and keeping these facts in mind.
Coinrule: a bot for CeFi and DeFi
Coinrule Home Page
Coinrule is an algorithmic trading bot that allows you to automate strategies without prior technical skills. The system executes trades as soon as user-defined market conditions are met.
The platform offers more than 300 predefined strategies , categorized by objective: capital protection, return optimization or exposure to specific sectors. Users can also design their own rules via an intuitive drag-and-drop interface, and test what they would have performed in the past before deployment.
As for integrations, Coinrule supports major exchanges (Binance, Coinbase, Kraken, etc.) and a few DEXs on different blockchains (Ethereum, Base, Arbitrum). Whether it’s DeFi or CeFi, you retain control of your assets. The cryptos remain in their external accounts (CEX or wallet) and the bot only serves to retrieve information and send buy or sell orders.
The tool is primarily aimed at beginners looking for a simple solution and intermediate traders looking to test their strategies. It is less suitable for high-frequency trading.
A free plan allows you to test the platform for a gradual familiarization. It’s recommended to start in demo mode, test with nominal amounts before scaling up, and regularly monitor deployed strategies. The platform excels at automating basic to intermediate strategies but requires a disciplined approach.
Coinrule has also just launched VWAPE, a trading bot for use on Telegram.
The Best Crypto Trading Bots for Decentralized Platforms
The bots below allow you to trade on decentralized platforms. Newer than robots for centralized platforms, they are increasingly used because they allow access to many tokens not yet listed by CEXs.
Unlike CEX, your wallet tokens are stored in a wallet dedicated to you. Make sure you understand who holds the private keys to know who can access your tokens.
To use them, you must be comfortable with non-custodial wallets on mobile and browsers.
| Trading bot name | Ease of use | Specificities and functions | Supported markets | Historical performances | Risk management | Cost / Fees | Benefits | Disadvantages |
| BullX | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Best interface on the market | Risk of significant loss of funds depending on the tokens traded |
| Photon | Moderate | Designed for memecoin sniping | Cryptocurrencies | Depends on users | Managed by user | 1% per transaction | Allows you to buy tokens before the mass | Risk of significant loss of funds depending on the tokens traded |
| Glider | Moderate | Developed on Base but will extend to other blockchains | Cryptocurrencies | Depends on users | Managed by user | No fees for now | Very promising | In development |
Comparison table of trading bots for decentralized platforms
BullX: The Favorite Tool for New Memecoin Hunters
BullX Interface
BullX is a bot specifically designed for memecoin trading , but can be used for any token on supported blockchains. Currently, Ethereum, Base, BNB Chain, Arbitrum, Blast, and Solana are supported.
The bot allows you to place classic buy and sell orders on the market, as well as limit orders, stop losses, and take profits. It allows orders to be executed much faster than those who do it “manually,” which is essential for trading low-marketcap tokens with limited liquidity.
The app offers various security audits to prevent users from getting scammed. It’s possible to know at a glance whether the smart contract is modifiable, whether the supply is infinite, whether the tokens are held by a minority of holders, whether the developer has already sold their share, etc.
Getting started with the application is very simple . However, you will need to have a thorough understanding of the market if you want to use the tool with emerging tokens without risking seeing your capital melt like snow in the sun . These are often very volatile and it is not uncommon for them to be worthless a few minutes after their creation.
Users must log in to the app via a Telegram bot. A private key is generated upon initial login, and you can create multiple wallets on each blockchain.
Photon: The Trading Bot for Snipers
Photon Interface
Older than BullX, Photon is a bot designed to snipe new tokens , that is, buy them faster than everyone else when they are created. This generally allows you to take advantage of a better price, so you can resell them (often very quickly) at a profit.
Initially developed for Solana, the bot now integrates the Ethereum, Base Blast and Tron blockchains.
The bot allows you to trade on different DEXs , several of which (Pump.fun, Moonshot, etc.) specialize in creating memecoins. Several hundred tokens are created there every day, offering a very wide choice to the most degen.
Much like BullX, Photon offers indicators to assess whether the token is a pure scam or not.
To use it, you’ll need to connect a non-custodial wallet like Metamask (or Phantom for Solana). The app will then generate a new private key (remember to back it up) that will control the addresses you can trade on.
Glider: a bot for Base supported by a16z
Glider Home Page
At the time of writing, Glider is a trading bot project still in beta, backed by venture capital a16z (which has already backed many successful projects such as Uniswap). Although still in development, the project is very promising and could delight traders using Base.
Access to the bot is currently via invitation codes . You can easily find these by visiting the project’s official Discord server. Initially developed on the Base blockchain , Glider plans to expand to other ecosystems in the future.
The platform allows users to:
- Design custom strategies through a modular interface using visually assembleable logic blocks (a bit like early versions of Kryll for those in the know);
- Use and copy pre-existing strategies shared by the community.
Although the interface is intuitive, some familiarity with DeFi tools (non-custodial wallets) and trading indicators (RSI, MACD, etc.) is recommended for effective use.
By using Glider you maintain control of your assets thanks to a non-custodial infrastructure using session keys and smart contracts for operations.
No native token has been officially announced by the team. However, a referral program with rewards should be implemented soon. Since the platform does not currently charge any fees, it will not be able to distribute a portion of them to referrers as is often the case with this type of program. It is therefore likely that these rewards will take the form of a native token . And the airdrop could well boost your profits, especially if you are one of the early adopters.
Criteria for choosing the right trading bots
It is important to understand that nothing is ever certain in the cryptocurrency market , and in financial markets in general. Therefore, you should absolutely avoid trading bots that guarantee performance every month, or any other promise of profits . Before taking action, you must check that the team is reliable and responsive .
Once this initial sorting is done, it is interesting to look at the bot’s history . It is preferable to bet on a bot that has an interesting backtest (interesting performances), but it must also work in real conditions . Sometimes, transaction costs and slippage phenomena are underestimated by the creators of trading bots. Also, you need to know if the trading bot uses strict risk management . Indeed, you should avoid bots that use too much leverage . The robot must not be able to risk its entire portfolio on a trade. Of course, it is absolutely essential to be able to access your funds as quickly as possible.
Understanding Cryptocurrency Trading and Automation
The cryptocurrency industry is nascent, and volatility is still very high . While this volatility can lead to significant gains, trading bots must be adapted to this characteristic. Also, it must be taken into account that Bitcoin dictates its law on the cryptocurrency market , and that only a few altcoins manage to perform independently of BTC. The cryptocurrency market is particularly interesting for trading bots. Since the market is open every day, and at any time, automated systems are extremely interesting in this sector . Indeed, the trading bot can execute positions while we sleep !
The emergence of trading bots predates the arrival of cryptocurrencies. In fact, advertisements began appearing in the late 1990s, highlighting the benefits of trading bots . Trading via bots has become the norm, as they allow for the analysis of a huge amount of data in a very short time. It is estimated that 60% of market transactions come from automated strategies. Simplifying trading bots through solutions like Kryll.io could accelerate the democratization of trading bots .
Introduction to Trading Robots
Trading robots in a nutshell
Trading robots are nothing more or less than the computer translation of a manual trading strategy . These lines of code can be more or less complex depending on the strategy. Whatever happens, this automation allows you to execute buying and selling operations without human intervention . Very often, this requires solid programming knowledge , but there are no-code solutions as we have seen with the Kryll.io platform.
Construction and operation of trading robots
Trading robots can be built from different indicators such as moving averages , momentum indicators ( MACD , RSI, stochastic , etc.) or even volumes. Some trading robots even use artificial intelligence to compile data and identify strategies . With the emergence of social networks, it is now possible to add market sentiment data . Indeed, even if there are more and more trading robots on the financial markets, the sentiment of operators (euphoria/fear) is still very present .
Trading robots are ubiquitous in financial markets
Advantages and disadvantages of using bots in trading
Automated trading has advantages…
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
…And disadvantages
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
Tips and practical advice for using trading bots
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Trading robots: a good diversification solution
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
The links in this article are sponsored links. The site may receive compensation if you take action through these links. Thank you for your support!
For those of you who are impatient, let’s start with a summary table of the main characteristics of the bots that we will present to you in the rest of the article.
All of them must be connected to a centralized exchange platform (Binance, etc.) using API keys. Indeed, the bots are only responsible for placing buy and sell orders. These orders are then executed by and on the connected platforms.
It’s worth noting that most centralized trading platforms are evolving and now offer trading bots. However, their options are still quite limited compared to those offered by the following robots.
There are, of course, trading bots available on decentralized exchanges. They are less comprehensive, but we’ll introduce some of them in the following paragraphs.
Comparison table of trading bots for centralized platforms
Cryptohopper Interface
Cryptohopper is one of the most advanced trading platforms on the market . It supports most exchanges, allowing you to spread your assets across multiple platforms while managing them centrally.
The interface is easy to use , and you’ll find a wide range of easily configurable strategies. To understand them, however, you’ll need to have a good understanding of trading , and the tool isn’t necessarily aimed at beginners. For added convenience, you can also choose to copy algorithms developed by other users rather than creating your own.
The tools offered allow in particular to:
Several subscription plans are available depending on your profile. The most advanced is quite expensive, but the first is completely free and will allow you to try the platform to see if it’s right for you before investing.
3commas interface
The features offered by the 3commas platform are more or less the same as those of Cryptohopper. It supports 14 of the largest exchanges on the market.
The trader has the option to create his trading bot via the Tradingview platform. This is done using the pinescript language and a system called webhook.
Plans range from $0 to $327 per month, depending on the number of strategies you want to run.
While the product is interesting, it should be noted that it has been the victim of two hacks that resulted in the loss of users’ funds. The 3commas team’s response was far from satisfactory, falsely accusing them of being the cause of the problems. While there have been no new incidents since October 2023, we still recommend exercising caution and keeping these facts in mind.
Coinrule Home Page
Coinrule is an algorithmic trading bot that allows you to automate strategies without prior technical skills. The system executes trades as soon as user-defined market conditions are met.
The platform offers more than 300 predefined strategies , categorized by objective: capital protection, return optimization or exposure to specific sectors. Users can also design their own rules via an intuitive drag-and-drop interface, and test what they would have performed in the past before deployment.
As for integrations, Coinrule supports major exchanges (Binance, Coinbase, Kraken, etc.) and a few DEXs on different blockchains (Ethereum, Base, Arbitrum). Whether it’s DeFi or CeFi, you retain control of your assets. The cryptos remain in their external accounts (CEX or wallet) and the bot only serves to retrieve information and send buy or sell orders.
The tool is primarily aimed at beginners looking for a simple solution and intermediate traders looking to test their strategies. It is less suitable for high-frequency trading.
A free plan allows you to test the platform for a gradual familiarization. It’s recommended to start in demo mode, test with nominal amounts before scaling up, and regularly monitor deployed strategies. The platform excels at automating basic to intermediate strategies but requires a disciplined approach.
Coinrule has also just launched VWAPE, a trading bot for use on Telegram.
The bots below allow you to trade on decentralized platforms. Newer than robots for centralized platforms, they are increasingly used because they allow access to many tokens not yet listed by CEXs.
Unlike CEX, your wallet tokens are stored in a wallet dedicated to you. Make sure you understand who holds the private keys to know who can access your tokens.
To use them, you must be comfortable with non-custodial wallets on mobile and browsers.
Comparison table of trading bots for decentralized platforms
BullX Interface
BullX is a bot specifically designed for memecoin trading , but can be used for any token on supported blockchains. Currently, Ethereum, Base, BNB Chain, Arbitrum, Blast, and Solana are supported.
The bot allows you to place classic buy and sell orders on the market, as well as limit orders, stop losses, and take profits. It allows orders to be executed much faster than those who do it “manually,” which is essential for trading low-marketcap tokens with limited liquidity.
The app offers various security audits to prevent users from getting scammed. It’s possible to know at a glance whether the smart contract is modifiable, whether the supply is infinite, whether the tokens are held by a minority of holders, whether the developer has already sold their share, etc.
Getting started with the application is very simple . However, you will need to have a thorough understanding of the market if you want to use the tool with emerging tokens without risking seeing your capital melt like snow in the sun . These are often very volatile and it is not uncommon for them to be worthless a few minutes after their creation.
Users must log in to the app via a Telegram bot. A private key is generated upon initial login, and you can create multiple wallets on each blockchain.
Photon Interface
Older than BullX, Photon is a bot designed to snipe new tokens , that is, buy them faster than everyone else when they are created. This generally allows you to take advantage of a better price, so you can resell them (often very quickly) at a profit.
Initially developed for Solana, the bot now integrates the Ethereum, Base Blast and Tron blockchains.
The bot allows you to trade on different DEXs , several of which (Pump.fun, Moonshot, etc.) specialize in creating memecoins. Several hundred tokens are created there every day, offering a very wide choice to the most degen.
Much like BullX, Photon offers indicators to assess whether the token is a pure scam or not.
To use it, you’ll need to connect a non-custodial wallet like Metamask (or Phantom for Solana). The app will then generate a new private key (remember to back it up) that will control the addresses you can trade on.
Glider Home Page
At the time of writing, Glider is a trading bot project still in beta, backed by venture capital a16z (which has already backed many successful projects such as Uniswap). Although still in development, the project is very promising and could delight traders using Base.
Access to the bot is currently via invitation codes . You can easily find these by visiting the project’s official Discord server. Initially developed on the Base blockchain , Glider plans to expand to other ecosystems in the future.
The platform allows users to:
Although the interface is intuitive, some familiarity with DeFi tools (non-custodial wallets) and trading indicators (RSI, MACD, etc.) is recommended for effective use.
By using Glider you maintain control of your assets thanks to a non-custodial infrastructure using session keys and smart contracts for operations.
No native token has been officially announced by the team. However, a referral program with rewards should be implemented soon. Since the platform does not currently charge any fees, it will not be able to distribute a portion of them to referrers as is often the case with this type of program. It is therefore likely that these rewards will take the form of a native token . And the airdrop could well boost your profits, especially if you are one of the early adopters.
It is important to understand that nothing is ever certain in the cryptocurrency market , and in financial markets in general. Therefore, you should absolutely avoid trading bots that guarantee performance every month, or any other promise of profits . Before taking action, you must check that the team is reliable and responsive .
Once this initial sorting is done, it is interesting to look at the bot’s history . It is preferable to bet on a bot that has an interesting backtest (interesting performances), but it must also work in real conditions . Sometimes, transaction costs and slippage phenomena are underestimated by the creators of trading bots. Also, you need to know if the trading bot uses strict risk management . Indeed, you should avoid bots that use too much leverage . The robot must not be able to risk its entire portfolio on a trade. Of course, it is absolutely essential to be able to access your funds as quickly as possible.
The cryptocurrency industry is nascent, and volatility is still very high . While this volatility can lead to significant gains, trading bots must be adapted to this characteristic. Also, it must be taken into account that Bitcoin dictates its law on the cryptocurrency market , and that only a few altcoins manage to perform independently of BTC. The cryptocurrency market is particularly interesting for trading bots. Since the market is open every day, and at any time, automated systems are extremely interesting in this sector . Indeed, the trading bot can execute positions while we sleep !
The emergence of trading bots predates the arrival of cryptocurrencies. In fact, advertisements began appearing in the late 1990s, highlighting the benefits of trading bots . Trading via bots has become the norm, as they allow for the analysis of a huge amount of data in a very short time. It is estimated that 60% of market transactions come from automated strategies. Simplifying trading bots through solutions like Kryll.io could accelerate the democratization of trading bots .
Trading robots are nothing more or less than the computer translation of a manual trading strategy . These lines of code can be more or less complex depending on the strategy. Whatever happens, this automation allows you to execute buying and selling operations without human intervention . Very often, this requires solid programming knowledge , but there are no-code solutions as we have seen with the Kryll.io platform.
Trading robots can be built from different indicators such as moving averages , momentum indicators ( MACD , RSI, stochastic , etc.) or even volumes. Some trading robots even use artificial intelligence to compile data and identify strategies . With the emergence of social networks, it is now possible to add market sentiment data . Indeed, even if there are more and more trading robots on the financial markets, the sentiment of operators (euphoria/fear) is still very present .
Trading robots are ubiquitous in financial markets
Advantages and disadvantages of using bots in trading
Automated trading has advantages…
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
…And disadvantages
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
Tips and practical advice for using trading bots
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Trading robots: a good diversification solution
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
By their very nature, trading robots are able to trade at any time, without having emotions when making decisions, and without experiencing fatigue . Automation allows you to set up a strategy, and to stick to it. When the operator loses a trade using a manual method, it is sometimes very difficult to keep the same convictions for the next position. Also, the trader can possibly be influenced by social networks, economic announcements, etc. When a trader makes a series of winning positions, he could become too confident and increase the risk (and vice versa). These flaws are completely erased with trading bots .
The robot is able to compile a huge amount of information in a very short time. It can also execute trades much faster than humans ( take profit / stop-loss ). Also, the algorithms allow for backtesting in a few minutes . While backtesting can sometimes be misleading, it still allows you to put the odds on your side to know if a strategy is interesting .
There is no perfect solution in trading , and like humans, trading robots have drawbacks. While sticking to a strategy can be an advantage, it is important to understand that the robot will not be able to adapt in the event of significant market changes (crashes) . Then, it is possible that the bot reacts better in certain conditions . Therefore, it will be necessary to make changes on a recurring basis to try to maintain, or improve its performance.
While it is possible to remove emotions from decision-making (inputs/outputs), the bot designer or user will have to deal with the performance of the automated system . For example, if the robot makes losses for several days or weeks, the emotional factor is back . Should parameters be changed? Should the robot be paused under these conditions? Should the robot filter more positions? These are the questions that will need to continue to be asked. Technical issues should not be neglected either. While the developer must ensure that a bot is coded well, nothing is ever certain.
As a trading bot creator, to maximize your profits, you need to dedicate time to improving your strategies . A strategy may be optimal for several weeks, then market conditions will make the bot less profitable. While it is worthwhile to try to improve your strategy, you also need to know how to take a step back when taking positions .
It is sometimes tempting to cut a trade, or to enter positions earlier than planned, but this is often a bad way to operate. You also need to have a minimum of confidence in the strategy adopted ! Whether you are a bot creator or just a user, it is interesting to know the market conditions where the bot works best . For example, if an automation was made for bull markets, it is interesting to cut it in neutral trend, and in bearish trend.
As a user, you must be careful about the costs of accessing the bot . Indeed, the performance of a strategy can be diluted if the costs are too high . It is also advisable to start with a demo account . Indeed, this allows you to see the reality of automated trading , without committing any money. Then, you can continue by betting a very small part of your capital . If cryptocurrency trading is risky, trading bots remain very risky .
Currently, there are a multitude of trading bots available, but it’s important to sort through them to select only the most accessible and effective ones. Some sites offer interesting automated strategies that have proven their robustness over time.
Trading bots offer many advantages because, by their very nature, they can operate without interruption. They have no feelings, are not affected by fatigue, and are not affected by a series of losing trades. However, it’s important to keep in mind that very few turnkey robots manage to perform sustainably over time. The most flexible and comprehensive ones can still deliver impressive performance, especially in bull markets. Thus, they represent a good solution for diversifying your portfolio.
For several years, trading robots have been ubiquitous in the financial markets, and this trend is expected to continue. In the future, robots are expected to continue improving, particularly through artificial intelligence. Also, the most efficient robots will be able to compile more and more information. Despite the growing presence of bots, there are still many human traders . Therefore, improving bots could also involve a better understanding of human traders’ behavior.
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
Crypto trading bot: our opinion
- Risks
- Efficiency
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
- Automation and Efficiency
- Dynamic Management
- Accessibility
Cons
- Few profitable strategies
- High risk of loss
- (Relative) technical complexity
- Discover 3commas
Source: journalducoin.com
Crypto trading bot: our opinion
4
Our opinion on trading bots
Trading robots (or trading bots), equipped with sophisticated algorithms, ensure rapid order execution and dynamic portfolio management. By their very nature, they are capable of adapting to market conditions in real time. Their ability to operate 24/7 in volatile markets such as the cryptocurrency market, in our opinion, gives them unparalleled flexibility and efficiency. However, their use carries risks and challenges, requiring careful selection, an understanding of the risks, and in some cases, technical expertise to maximize profits.
Pros
Cons
Source: journalducoin.com
Source: journalducoin.com
Your email address will not be published. Required fields are marked *