Top 7 Crypto Trading Bots For Beginners – MUO – MakeUseOf | Omd Cialis

It used to take years to become a financial trader. However, with the advent of trading bots, anyone can use a bot to trade any asset, including cryptocurrencies.



No technical knowledge is required to use bots as there are pre-existing rules that you can apply immediately. They are also safe to use as they have no access to your funds.

Some bots have features tailored for use by advanced traders, while others have features that are more suited to beginners. Below are seven of the best crypto trading bots for beginners.

1. Coin rule

Do you know what automated crypto trading is? Well, Coinrule is one of the most popular automated crypto trading platforms.

It’s also one of the most beginner-friendly, with a simple interface that anyone can quickly grasp. As a beginner with no technical knowledge, you can apply the existing trading rules and start trading.

The platform has a backtesting feature that allows you to test any strategy or rule you create before using it in real trades. You should learn what crypto trading strategies are and how they work as the right strategy can decrease your chances of losing your money.

There are three types of accounts you can use, with the first being absolutely free, with no usage limits and a decent number of features available. You can always stick to it and get comfortable before moving on to paid plans if you feel more comfortable with the bots.

Additionally, there is a long list of exchanges to choose from, including Binance, Coinbase Pro, OKEx, HitBTC, Bitstamp, Bitpanda Pro, Kraken, Poloniex, and BitMEX.

MAKEUSEOF VIDEO OF THE DAY

2. Cryptohopper

Cryptohopper is a crypto bot trading platform suitable for both novice and experienced traders. The platform has an algorithm that uses all market conditions to your advantage, ensuring you don’t miss a price pump or hit a dip.

One of the features that makes this possible is the Dollar Cost Averaging (DCA) bot, which repeatedly buys assets at different prices, giving you an overall good average purchase price.

Another notable feature is mirror trading, which allows beginners to copy the trades of professionals. This way they can benefit when their mentor benefits and they learn how to trade in the process.

Cryptohopper also has a free account to test the waters with, as well as a backtesting feature to try new strategies.

3. Pionex

Pionex is the combination of a cryptocurrency exchange and a crypto trading bot platform. Users can trade manually or use trading bots that automatically buy crypto assets low and sell high. This is a feature that makes it suitable for absolute beginners.

It is also worth noting that using the trading bots on Pionex is absolutely free. There is only a flat fee of 0.05% for buy/sell orders and you have to pay network fees, which are automatically deducted.

Pionex also has unique combination bots. The first is a grid trading bot that automatically places buy and sell orders at set intervals, requiring no effort on your part.

The second group are the crypto arbitrage bots that exploit price differences on different exchanges to generate profits. The last one is a DCA bot that buys at random prices (not totally random, mind you!) in order to arrive at an overall fair purchase price, thus turning the market in your favor.

4. 3commas

3Commas is another beginner-friendly cryptocurrency trading bot platform. Trades are executed automatically 24/7, you just need to set the buy/sell prices to be executed and the bot will take profits and stop losses automatically.

It also has the copy trading feature that allows you as a user to copy the trades of experienced traders, increasing your chances of winning and giving you the opportunity to learn. You can try the free plan, and the paid plans are relatively cheap.

Supported exchanges include Binance, Bitfinex, Bitmex, Bitstamp, Bittrex, Bybit, Coinbase, Deribit, FTX, FTX US, Huobi, Kraken, Kucoin, and OKEx.

In addition to Grid, DCA, and Options bots, 3Commas also has a HODL bot that automatically buys cryptocurrencies at low prices and holds them for the future, making it easy to stack sats and other assets.

5. Tradesanta

This is an all-in-one platform for trading all things crypto, whether it’s manual or using crypto bots. The design of the platform allows you to place orders from multiple exchanges with indicators like RSI that you can easily learn how to use.

The bots available include Grid, DCA and Futures bots, the latter being a bot that allows you to trade crypto futures (which may not be entirely suitable for a complete beginner). Additionally, there is a demo account that allows you to try out the platform with practice funds before placing actual orders.

Tradesanta does not offer a free account, but it may be worth using considering the convenience it offers traders to coordinate trades from just one platform. There is also a mobile app that allows you to track trades on the go on your mobile device.

6. Miracle Bit

Wunderbit is one of the most complete beginner-friendly automated trading platforms. The platform offers Smart Trading, a feature that allows you to create and edit orders.

You can change the take profits, stop loss and trailing stops for each order, making it a unique platform.

New traders can also copy mentors’ trades to learn how to trade while reducing their chances of losing and increasing their chances of winning. Trading signal providers are also available on the platform to provide newbies with signals that they can easily trade.

You can use the DCA bot and portfolio tracker which allows you to track your portfolio on the go once you are connected to an exchange.

Another key feature is the ability to manage multiple accounts and trade simultaneously from one exchange via various application programming interfaces (APIs).

7. Shrimpy.io

If you are a beginner looking for a place to do anything with crypto, Shrimpy is a place to consider. As an automated crypto trading platform, it also allows you to connect up to 30 wallets and exchanges, allowing you to coordinate all your activities from one place.

As a beginner, you may need some guidance first. Shrimpy offers this through the copy trading feature, which allows new traders to copy trades from more experienced ones.

You can also mimic the digital asset portfolios of mutual funds like Coinbase Ventures, Blockchain Capital, or Binance Labs, making it a place to learn about crypto investing as a whole. You can also backtest new strategies before applying them to your trades.

There are no free accounts and a subscription starts at $15 per month for the starter plan.

Trade like a pro with a Crypto Trading Bot

You can use any of the listed bot platforms to start your crypto trading journey today. In addition, it is possible to trade the bots like a pro since almost no technical skills are required to operate them.

The impact of your emotions on trades is also drastically reduced when you use bots, making your trades more likely to win than lose. Most are free too, so you can try one of them today. However, remember that investing and trading with a crypto bot is the same as any other type of investment. You can still lose money, and winnings are far from guaranteed.

Leave a Comment