Best Crypto Trading Bots in 2023
Trading is a risky business, and you can never fully remove human error from it, but you can do your part to reduce the risks. A trading bot is one way to do this. By automating some of the work involved in making trades, bots can help minimize losses that come from misjudging market trends or reacting too quickly to news events.
A good trading bot can deploy algorithms to monitor the market and execute trades when certain conditions are met. This allows you to perform research on other coins so that you’re ready for every opportunity that comes along.
Here are our top picks for 2023:
#1 3Commas
Why 3Commas is Our Top Pick
The reason we love 3C is that it’s an all-in-one product. They’ve got so much to offer, including portfolio and trade tracking across all your exchanges and wallets. There are multiple built-in bots along with a super intuitive template for custom builds – no coding required. If you don’t want to create your own bot, you can copy one of the many profitable ones already running or head to the marketplace and purchase one of the algorithmic strategies there.
3Commas supports a wide array of 17+ exchanges including Binance, Bitfinex, and KuCoin. Setting up a bot is easy: all you need is an API key from an exchange that supports automated trading and then enter it into the proper field within 3Commas’ settings. The whole process takes under 5 min.
3Commas Features:
- Smart Trade for buy/sell orders with specific conditions
- Trailing stops, timed stops, multiple entries and targets
- Grid bots, DCA bots, TA preset bots (user friendly)
- Algorithmic, AI, ML & options bots (advanced)
- Extensive marketplace for purchasing automated strategies
- Mobile support for iOS and Android
–> Join 3Commas now and enjoy an additional discount
#2 Shrimpy
Shrimpy – Best Portfolio Rebalancing
Shrimpy lands our #2 ranking due to its powerful use case as an excellent compounding tool for your crypto portfolio. It’s suitable for both novices and professionals – anyone looking to smooth out the bumpy ride of market volatility and stay afloat during bear markets and sideways trends. With support for 10 exchanges and 13 wallets at the time of writing, that should be adequate for most users.
Shrimpy allows you to rebalance your entire portfolio up to multiple times per day while maintaining customized % allocations of stablecoins and your favorite tokens. That’s not all. Their social trading feature enables users to track and copy the most successful portfolio managers on the platform. This community aspect is positive in so many ways, and for those with minimal time to focus on markets, Shrimpy provides the ultimate passive trading experience. There’s also a free demo, so you can practice on a sample portfolio before you start.
Shrimpy Features:
- 400+ portfolio management strategies to follow and copy
- Strategy backtester to prove bot performance
- Full portfolio tracking across exchanges and wallets
- Multiple portfolios supported for each exchange account
–> Check current Shrimpy offers
#3 Zignaly
Zignaly – Best Copy Trader
Zignaly earns our #3 spot because it’s our favorite user-friendly place to perform copy trading without any KYC or upfront costs. The website is free to use, and the host traders earn a % off the top called a ‘success fee’. This incentivizes traders to produce profits for their clients, because they only make money when they succeed. The zero monthly fee model is something we admire and one that protects everyone’s downside.
Zignaly also recently introduced their own coin (ZIG) which enables users to save up to 6% on success fees, 15% on trading fees, and participate in the Zignaly vault for passive rewards.
Zignaly Features:
- 140+ traders to copy from
- Zero upfront fees
- Beginner-friendly interface
- Bridge between ETH, BSC, MATIC, SOL
#4 CryptoHopper
CryptoHopper – The 3Commas Competor
CryptoHopper comes in at #4 out of the bot platforms we tried. The platform supports 16+ exchanges that can be connected via API key. There are a number of built-in strategies that can be copied directly or you can choose to build your own based on over 30 TA presets and 90+ candlestick formations. There is also a marketplace for free and paid strategies, signals, and copy bots.
While CryptoHopper isn’t quite at the maturity level of 3Commas, we believe it’s the closest competitor and the growth potential is huge as they continue to build it out.
CryptoHopper Features:
- Custom and built-in automated trading strategies (beginner)
- Market making, arbitrage, AI bots (Advanced)
- Marketplace for purchasing or selling strategies
- Mobile support for iOS and Android
–> Check current offers on the website
#5 HaasBot
HaasBot – Best Crypto Bot for Coders
This one is directed toward advanced traders, but it comes with ample built-in bots for beginners as well. HaasBot comes with a steeper learning curve, but users who can navigate the visual editor can go on to rapidly create, backtest, and deploy scripts to trade across a wide array of exchanges via API keys. This kind of programming and execution would normally take hours, but with HaasBot, the time between design and implementation is cut in half.
With HaasScript programming language, users can build trading strategies from the ground up. This means everything from simple moving average systems to more advanced multi-indicator algorithms can be utilized.
HaasBot Features:
- 100+ built-in trading bots
- Advanced bot creation terminal
- Backtesting and simulated trading
–> Check current offers on the website
#6 Pionex
Pionex – Best Free Crypto Bot
We like Pionex because it’s free to use and offers a variety of useful bots. However, the main drawbacks are that it doesn’t support exchange connectivity and KYC is required for deposits.
There are some features here that stand out among its peers; for example the low-risk arbitrage bot and modified martingale bot which is similar to a grid bot but with a unique twist. The platform also allows you to buy crypto directly from a credit card. Leveraged trading is supported with up to 5X on BTC & ETH and 3X on other currencies.
Pionex Features:
- Free to use and no paid tiers
- Low trading fees at 0.05% for spot and 0.1% for leverage
- Grids, leveraged grids, arbitrage bot, rebalancing bot
- Mobile support for iOS and Android
#7 TradeSanta
TradeSanta – Best Budget Crypto Bot
This is a relatively simple bot, but at the current price point, we’d be remiss not to include it. With TradeSanta, you can build multiple bot styles including DCA, grid, futures DCA, and futures grid. There are also multiple template strategies for beginners and a virtual bot to practice on before hitting the open market.
If you choose to design your own bots, you will be able to program entries and exits with basic filters and technical indicators. TS currently supports connectivity for around 7 different exchanges.
TradeSanta Features:
- Virtual trading for practice
- DCA, grid, long & short bots
- Mobile support for iOS and Android
–> Check current offers on the website
Final Thoughts
Whether you’re just getting into trading or already have years of experience, a curiosity about automated trading is what led you here. Trading bots allow you to automate your favorite strategies, reduce portfolio drawdowns, survive bear markets, and maximize profits in bull runs. That’s because machines can think and act faster than you and I. Oh the wonders of technology!
At the same time, trading bots are not for everybody. We do not recommend using them without appropriate risk management. Bots requite active monitoring to make sure they’re performing properly at all times – even during volatility peaks. If this sounds like too much work, bots are probably not for you.
Indeed, the whole notion behind using bots is to reduce the overall work of trading, cut down screen time, execute trades quickly, and obtain more profit. With enough practice and hard work, these goals can be achieved. As with everything else, don’t expect to get rich overnight.
