Crypto trading bots have become an essential tool for crypto investors looking to automate and optimize their trading strategies. With the crypto markets open 24/7, trading bots allow you to execute trades even while you sleep.
But with so many crypto trading bots to choose from, how do you know which one is right for your needs? This comprehensive guide will walk you through the 10 best crypto trading bots to use in 2024 based on features, exchanges supported, pricing, and ideal users.
What is a Crypto Trading Bot?
A crypto trading bot is an automated software program that trades on your behalf 24/7. The bot connects to crypto exchanges via API and uses preset rules and indicators to analyze market data and place buy and sell orders for your crypto portfolio.
Trading bots allow you to automate your trading strategy consistently without emotion or fatigue. They can react to market movements faster than humans and take advantage of volatility for profit.
Benefits of Using a Crypto Trading Bot
Here are some of the main benefits of using a crypto trading bot:
- Automatic trading - Bots trade automatically 24/7 according to your preset trading strategy. This allows you to trade while sleeping or busy with other activities.
- Faster reaction times - Bots can react to market movements and place trades in milliseconds, which is much faster than humans. This allows you to capitalize on opportunities faster.
- Consistent trading - Bots stick to your predefined rules without emotion. This removes the psychological aspect of trading for consistent execution.
- Risk management - You can program stop losses, position sizing, and other risk parameters into your trading strategy. This helps manage risk.
- Scalability - You can automate trading across hundreds of coins and multiple exchanges from one bot. Difficult for humans to scale trading strategies as effectively.
- Backtesting - Many bots allow you to backtest your strategy on historical data to fine-tune it before live trading.
- Accessibility - Bots democratize trading by making advanced strategies available to all investors. You don't need to be glued to charts all day.
How to Choose the Right Crypto Trading Bot
With so many crypto trading bots available, here are the most important factors to consider when choosing one:
- Supported exchanges - Make sure the bot integrates with the exchanges you want to trade on. Having more exchange options gives you greater flexibility.
- Trading strategies - Check that the predefined strategies match your planned trading approach, whether that's day trading, arbitrage, market making, etc.
- Ease of use - The bot should have an intuitive interface that fits your technical abilities, whether you're a beginner or professional.
- Security - Reputable bots use encryption, 2FA, and other measures to keep your data and funds safe and prevent unauthorized access.
- Reliability - Check reviews and community feedback to ensure the bot has high uptime and good customer service in case issues arise.
- Cost - Bots range from free to hundreds of dollars per month. Find one that fits your budget but still has the functionality you need.
- Customizability - Some bots are highly configurable, while others have preset options. Assess how much customization you need for your strategy.
- Backtesting - The ability to backtest your strategies on historical data helps improve performance and manage risk.
The 10 Best Crypto Trading Bots for 2024
Based on the key factors above, these are the top 10 best crypto trading bots to use in 2024:
1. Cryptohopper: Best AI Crypto Trading Bot
Cryptohopper is one of the most powerful AI-driven crypto trading bots. It is packed with automated trading features and market analytics that both new and advanced traders will find useful.
Some standout features include:
- Trading strategies - Choose from prebuilt quantitative trading strategies or create your own using a strategy designer and 125+ technical indicators. Strategies can be based on trends, indicators, candle patterns and more.
- AI trading - The bot can continually monitor market conditions and automatically adjust your positions, stop losses, targets and strategy according to live data and trends. This takes the guesswork out of trading.
- Arbitrage trading - Cryptohopper has an automated arbitrage tool that identifies and capitalizes on price inefficiencies across exchanges for profit.
- Backtesting & Paper trading - Test your strategies against historical market data or use the paper trading feature to simulate trading without risking real money. Tweak your strategy before going live.
- Portfolio tracking - You get a transparent view of your portfolio across exchanges with detailed performance stats on each coin.
- Exchange integrations - Cryptohopper connects to over 17 major crypto exchanges, including Binance, Coinbase Pro, KuCoin, Kraken and more.
Cryptohopper offers a free trial for its Explorer Hopper plan. Paid subscriptions start at $19 per month and unlock more features.
Ideal For: Both beginners and advanced traders. The combination of AI-based automated trading with advanced customizable strategy options makes this a top choice for crypto traders of all levels.
2. Pionex - Best Free Crypto Trading Bot
Pionex stands out as one of the only crypto exchanges that offers free built-in trading bots. This makes it easy to automate your crypto trading at no additional cost.
Some key features:
- 16 free trading bots - Take your pick from 16 bots for spot trading, futures trading, leverage trading, grid trading and more. The bots automate strategies like DCA, TWAP, trailing stops and arbitrage for you.
- No coding required - The bots are pre-built, so anyone can set them up in minutes without any technical skills required. Simply connect your exchange API keys.
- Liquidity - As an exchange, Pionex offers deep aggregated liquidity from Binance and Huobi Global to help your bots execute trades seamlessly.
- TradingView integrations - You can set custom buy and sell orders directly on TradingView charts, which your Pionex bots will execute automatically.
- Free unlimited simulated trading - Test your trading strategies risk-free before putting real money on the line. Backtest against historical market data.
While the basic trading bots are free, Pionex does charge nominal fees for futures trading and leveraged bots to cover the funding costs. But overall, it offers an unbeatable value.
Ideal For: Traders who want free crypto trading bots without any subscription fees or upfront costs. The simplicity and deep liquidity make Pionex bots ideal for beginners.
3. Altrady - Most Customizable Crypto Trading Bot
Altrady is a full-featured trading platform that packs just about every tool you need to automate and manage your crypto trading. Their trading bots are highly customizable so you can create complex strategies tailored to your needs.
Key features:
- Powerful trading bots - Choose from Grid, DCA, and Signals bots. You can fully configure the bots based on technical indicators and customize when/how they place trades.
- Highly configurable - Every bot setting, like indicators, safeties, targets, position sizing and more, can be tweaked and customized to fit your strategy.
- Trailing stops & OCO orders - Advanced trade order options help you dynamically set stops and targets as asset prices move to lock in profits and cut losses.
- Portfolio tracker - Altrady lets you track all your exchange balances, trade history, and asset performance in one dashboard for easy reporting.
- Technical analysis - Make data-driven decisions using the built-in charting and TA tools like RSI, MACD, Bollinger Bands, Fibonacci Retracements and more.
- 19 exchange integrations - Trade across major exchanges like Binance, Coinbase Pro, KuCoin, BitMEX, and many others.
Altrady starts with a free plan and then offers premium subscriptions from $14 to $89 per month with more features.
Ideal For: Traders who want maximum configurability for advanced custom trading bots and strategies. Altrady gives you the tools to automate complex trades.
4. Mizar - Best Social & Copy Trading Bot
The Mizar social trading platform makes it simple to copy expert traders or share your own profitable strategies. This allows beginners to leverage proven crypto trading bots and learn in the process.
Key features:
- Copy trading - Browse trader profiles and track records, then copy their automated bots with one click. This lets anyone trade like a pro without doing the hard work.
- Social marketplace - Connect with top traders in the community. Chat, ask questions, discuss strategies and share wisdom.
- Prebuilt trading bots - Choose from premade DCA, grid and spot trading bots. No coding is required to configure them.
- Drag-and-drop bot builder - Visually build custom bots using drag-and-drop blocks based on technical indicators without coding.
- Paper trading - Test new strategies in a risk-free environment before putting funds at stake. Get a feel for what works.
- Exchange integrations - Connect with 11 top crypto exchanges like Binance, Bitfinex, Kraken, KuCoin and Gate.io to trade across spot, margin, and futures markets.
Mizar does not charge any subscription fees. You only pay a small commission per trade executed, ranging from 0.0047% to 0.1% based on your monthly volume.
Ideal for Beginner traders who want to learn from veterans and copy-proven crypto trading strategies. The social element makes improving your skills accessible.
5. 3Commas - Most Advanced Crypto Trading Bot
3Commas is one of the most fully-featured platforms for automating complex crypto trading bots and strategies. While not for total beginners, it provides advanced traders with the tools to create highly sophisticated bots.
Some key features:
- Algorithmic trading - Design, backtest and automate custom crypto trading algorithms and bots using an array of order types and technical indicators.
- Portfolio management - Optimize profit across your entire portfolio with features like smart balancing, rebalancing and maximum drawdown control.
- Professional tools - Make use of advanced trading tools like DCA bots, composite bots, BitMEX bots, trailing bots, arbitrage bots and more.
- Paper trading - Test your bots and strategies in a simulated paper trading environment before deploying them with real money.
- Market analytics - Use tools like smart volume analysis, order book analytics and market heatmaps to identify promising trading opportunities.
- 18 exchange integrations - Trade across all the top exchanges like Binance, Coinbase Pro, Kraken, KuCoin, Bitfinex, Poloniex, Gemini and many others.
3Commas pricing starts at $14.50 per month for its Starter plan up to $99 per month for the Pro plan with more features.
Ideal for Advanced traders, institutions and anyone who wants to automate complex trading algorithms and bots across multiple exchanges. 3Commas provides deep customization options.
6. HaasOnline - Best Private Crypto Trading Bot
HaasOnline stands out as one of the only self-hosted crypto trading bots that you run on your own computer or server for maximum privacy and security. You don't have to rely on cloud servers.
Key features:
Recommended by LinkedIn
- Desktop application - Provides you with full control since the bot runs on your own device. Keys stay private without passing through third-party servers.
- Advanced trading bots - Automate complex trades like arbitrage across exchanges, market making, flash loans, liquidity mining, conditional orders, neutral networks and more.
- Insights - Get real-time notifications and analytics on your trades, bot performance, market movements and more to inform trading decisions.
- Backtesting and paper trading - Test and refine your trading strategies in simulated environments before risking live capital. Experiment freely.
- Visual editor - Build custom trading strategies and bots on your desktop using a drag-and-drop visual editor without needing to code.
- 23 exchange integrations - Supports all the top centralized exchanges as well as decentralized exchanges like Uniswap, Pancakeswap and Curve.
HaasOnline offers different pricing plans ranging from $0 to $900 per month based on features needed and the number of bots you want to run.
Ideal for: Privacy-focused traders who want full control running self-hosted bots on their own machines. HaasOnline also works for coders.
7. Hummingbot - Best for Market Making & Liquidity Providers
Hummingbot specializes in crypto trading automation for professional liquidity providers and market makers. It lets you automate complex strategies like arbitrage and liquidity mining that maximize exchange liquidity and trading yields.
Key features:
- Liquidity provision - Automate market making with algorithmic liquidity bots on decentralized and centralized exchanges to earn fees and yield.
- Arbitrage - Identify and capitalize on price inefficiencies across exchanges by automating arbitrage for low-risk profits.
- Liquidity mining - Earn additional rewards and incentives by providing liquidity using automated bots on liquidity mining pools and DEXs like Uniswap.
- Visual editor - Hummingbot includes a visual editor so anyone can configure bots through a graphical interface without needing to edit code.
- Open source - As an open-source project, Hummingbot is transparent and community-driven. Users can contribute to improving the software.
- 24 DEXs supported - In addition to centralized exchanges, Hummingbot connects with leading decentralized exchanges and protocols like Uniswap, Curve, Balancer, PancakeSwap and more.
Hummingbot is free and open source. Users do not pay any subscription fees, just gas fees for executing trades.
Ideal for: Developers, liquidity providers and professional market makers who want to provide liquidity across markets to earn fees and maximize yields.
8. CryptoHero - Best for Simulated Crypto Trading
CryptoHero makes it easy to build, test and automate your crypto trading bots in a risk-free simulated environment. This approach lets beginners learn the ropes safely.
Notable features include:
- Paper trading - Get practice trading with bots without putting your capital at risk. Use CryptoHero's paper trading exchange to test strategies.
- Backtesting - Analyze how your bot would have performed trading real assets using historical OHLCV price data for backtesting and optimizations.
- Prebuilt classic bots - Hit the ground running with premade bot templates for proven strategies like DCA, grid and mean reversion. Fine-tune presets.
- Customizable bots - Tweak technical indicators, safeties and risk management settings. Set custom conditions to fit your strategy for automated 24/7 execution.
- Bot flexibility - Easily switch your bot between paper trading and live trading modes whenever you're ready to go live.
- 10 exchange connections - Link your bot with all the top exchanges like Coinbase Pro, Binance, Kraken, KuCoin, Gate.io and more.
CryptoHero has a free forever starter plan. Paid subscriptions with more bots and features start at $12.99 per month.
Ideal for: Beginner traders who want to practice and learn bot trading risk-free before putting skin in the game. Paper trading is excellent for testing.
Master crypto bot trading from scratch with CryptoHero's template strategies, educational resources, and dedicated support. Become an expert trader step-by-step.
9. TokenSets - Best Crypto Trading Bot for DeFi
TokenSets makes DeFi investing easy by automating trading based on professionally designed token sets using proven crypto trading bots under the hood.
Key features:
- Professionally created Sets - Simply purchase established DeFi Sets created by expert traders to start benefiting from automated yield farming strategies instantly.
- Auto rebalancing - TokenSets rebalance your portfolio automatically to maintain target allocations as prices fluctuate. This automates DeFi portfolio management.
- Lower risk - The pre-made Sets are structured to maximize yields while minimizing risk exposure to market volatility.
- Custom Sets - You can also create fully customized Sets based on your personal rules and preferences using any ERC-20 tokens.
- Cross-chain flexibility - In addition to Ethereum, TokenSets works with Polygon, Optimism and more L2 solutions for lower fees.
- Portfolio management - Track your Sets across different blockchains in one easy dashboard to see your portfolio balance, fees paid, net APY and more.
TokenSets is free to use but charges a 0.1% management fee applied to each Set. This covers gas costs.
Ideal for: DeFi investors who want simple, automated portfolio management using expert-crafted crypto trading strategies.
10. Coinrule - The most Beginner Friendly Crypto Trading Bot
Coinrule makes it easy for total beginners to get started with crypto trading bots in minutes. The intuitive interface lets you set rules and automate trades without technical know-how.
Key features:
- Preconfigured templates - Just tweak and deploy template bot strategies designed by trading experts. Template bots implement proven strategies.
- Beginner-friendly interface - Configure your bots visually using plain English conditions, and no coding is required. Extremely intuitive, even for crypto newbies.
- Backtesting - Experiment safely by backtesting your bots against historical data to validate performance before risking funds.
- Smart analytics - Get trading insights like profit/loss per coin, top performing bots, charts showing bot performance vs just HODLing and more.
- Educational content - Coinrule provides tons of guides, tutorial videos, ebooks and other learning resources to help you continually improve as a trader.
- Exchange flexibility - Connect your bots with 10 top exchanges like Binance, Coinbase Pro, Kraken, KuCoin and others.
Coinrule starts with a forever free plan for basic bots then paid monthly subscriptions from $29 to stay on top of the latest features.
Ideal for: Complete beginners who want an easy entry into automated crypto trading. Coinrule is intuitive with no coding required.
How to Pay Crypto Trading Bot Taxes
Once you have your automated crypto trading bot up and running, don't forget about taxes!
Any profits generated from your crypto trading bots are subject to capital gains taxes and must be reported.
Manually tracking and calculating taxes on all your automated bot trades across exchanges would be an accounting nightmare.
That's why it's highly advisable to use cryptocurrency tax software to automate the tax reporting process.
Benefits of Crypto Tax Software
Here are some of the main benefits of using cryptocurrency tax software:
- Automated tax calculations - The software will automatically import all your trading data and calculate your capital gains and losses for tax reporting.
- Supports all exchanges - Leading tax calculators integrate with all major exchanges to pull in your complete trade history.
- Optimized cost-basis methodology - The software will determine the optimal cost-basis calculation method to minimize your tax obligations.
- Generates required tax forms - It will generate the required IRS or other country tax forms pre-filled with your trading data to simplify filing.
- Portfolio tracking - Most tax software provides portfolio tracking tools to give you a clear view of your profit/loss and performance.
- Audit support - Having detailed documentation of all your crypto transactions helps support your reports in case of an audit.
- Time saver - Automating tax reporting saves you hours or days of manual work assembling and calculating trades.
Top Crypto Tax Software
If you are looking for an accurate and easy way to report your crypto trading bot taxes, these leading platforms make it simple:
- [Koinly] - Koinly supports over 400 exchanges and wallets. It uses AI to match transfers and generate optimized tax reports adhering to your country's rules.
- [CoinTracker]- CoinTracker also autogenerates cryptocurrency tax reports for the U.S. and other countries with full exchange integration.
- [ZenLedger]- ZenLedger offers easy import of transactions and generates the forms you need for filing taxes on your crypto gains and losses.
- [CryptoTrader.Tax] - Specialized platform for calculating trading gains/losses across 5,000+ cryptocurrencies. Integrates with major exchanges.
Conclusion
- Crypto trading bots give you the power to automate your trading 24/7 according to preset strategies. This allows you to scale your trading while removing emotion-driven mistakes.
- There is now a wide variety of excellent crypto trading bots for any budget or trader level, from beginners to advanced. Each bot has different strengths based on the platform features and ideal users.
- When choosing a crypto trading bot, pay close attention to supported exchanges, trading strategies, reliability, security, and overall ease of use. Select one that best aligns with your crypto trading approach and goals.
- Be sure to use cryptocurrency tax software to track and calculate taxes on your automated trading accurately. This streamlines filing and provides detailed auditing support.
- With the right crypto trading bot tailored to your specific needs, you can take your portfolio to the next level and truly unlock the benefits of 24/7 digital asset trading.
FAQs
More questions about crypto trading bots? We got you.
Disclaimer: This article is informational only. It is not intended as investment advice. Speak to a financial advisor before using any crypto trading bots.
Affiliate Disclosure: This article contains affiliate links. We may receive compensation if you sign up for the products mentioned.
