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Best Crypto Trading Bots In 2022

Author: Matt Pigott Updated: 31 May, 2022

Crypto markets operate 24 hours a day, 7 days a week. This poses a number of problems for people who want to take advantage of potential profit-making moves, the main one being that humans need sleep. The other problem facing the human trader is the blight of emotion. Due to a range of cognitive biases, people often make poor decisions, buying highs and selling lows, and ultimately losing money.

Enter the cryptocurrency trading robot. Bots have no feelings, they don’t need feeding or watering, and they will only buy or sell when certain conditions are met. They react according only to preset parameters, and the best ones even have machine learning built into them, meaning they get better at trading with time. 

So, if you’re tired of sitting perched in front of the charts at stupid hours, sweating with fright as you think about whether or not to pull the trigger, it could be time to automate your trading. This guide will list some of the most popular trading bots along with their features and advantages so you can make an informed decision about whether or not to invest in one.

CoinText top picks for best crypto trading bots in 2022 

  1. Cryptohopper - Best crypto bot for beginners and machine learning
  2. Bitcoin Code - Best trading robot for auto-trading functionality
  3. Bitcoin Era - Best crypto trading robot for ranging markets
  4. Bitcoin Profit - Best cryptocurrency trading bot for market downtrends
  5. Yuan Pay Group - Best automated trading bot for consistency 
  6. Immediate Edge - Best cryptocurrency trading robot for slow-moving markets

Compare the best cryptocurrency trading bots in 2022

Below we take a deep dive into our findings on the best crypto trading robots for 2022 including why we think they’re the best and how we went about testing them, plus much more.

1. Cryptohopper - Best crypto bot for beginners and machine learning

As one of the most highly developed crypto trading bots available on the market, Cryptohopper should be top of the list for anyone looking for an algorithmic trading tool that seriously performs. 

Whether markets are up down or sideways, fast or slow, Cryptohopper quickly synchronises to deliver results. In addition, Cryptohopper has machine learning capabilities, making it one of the most intelligent crypto trading algorithms available. By combining automatic backtesting in endless iterations, Cryptohopper consistently improves as it learns and evolves.

With a dedicated team and an active and an active, engaged and growing community, Cryptohopper also offers a place to share ideas and find support.

Pros and Cons

Pros

  • Easily turn on the auto-trade feature or use the bot manually to take charge of your own trades
  • Team support directly from the trading room - Live chats with customer service available at all times
  • Multiple Payment Methods - Make payments with VISA, Mastercard, Maestro, Discover and AMEX 
  • Fund your account with Bitcoin (BTC)
  • Lightning-fast executions - market-beating bot response times
  • Paper trade - Try before you buy with Cryptohopper’s built-in demo account

Cons

  • Deposit methods such as PayPal and Skrill are not supported

Why we chose Cryptohopper

Cryptohopper is among the most advanced AI trading bots, learning and adapting as price moves. Cryptohopper also allows users to connect to multiple exchanges, increasing the potential for profits.

We also liked the fact that the team is visible on the Cryptohopper website. And that the AI trading bot also has plenty of ongoing partnerships with exchanges and other organisations in the crypto space. Seeing this sort of activity indicates that Cryptohopper is alive and thriving.

Another bonus for users is that they can paper trade. This means they can run the bot and see how it performs without using (or risking) any real money. 

2. Bitcoin Code - Best trading robot for auto-trading functionality

Capable of making a high number of trades each minute, based on underlying price movement, Bitcoin Code takes the guesswork out of trading. When set up correctly, the algorithm can be left to do what it does best, generate profits by taking small bites out of fast-moving markets. Making decisions without human intervention means that any profits crystallised are a direct result of the solidity of the algorithm.

Pros and Cons

Pros

  • Users report earning good profits
  • Fast execution speeds
  • Set and forget bot functionality
  • Claims to have artificial intelligence and machine learning capabilities

Cons

  • Can’t choose your own broker
  • Restricted to certain countries
  • Doesn’t perform well in unfavourable market conditions

Why we chose Bitcoin Code

Unlike the creators of many other crypto trading bots, Bitcoin Code’s developer, Steve McKay, is happy to raise his head above the parapet and put his name to his algorithm. In a sector steeped in cold scams, this is a real plus point that should give crypto trading bot enthusiasts added confidence. 

McKay has focused on developing an algorithm that can withstand the volatility of markets, and this is one of Bitcoin Code’s leading advantages. 

In addition, Bitcoin Code provides a better user experience than other trading bots, with its main plus points being its overall reliability and easy navigation. Bitcoin code has been around for a while now and has withstood some serious battle testing. According to its website, some users have had a 90 percent success rate using it in market conditions best suited to this bot. 

3. Bitcoin Era - Best crypto trading robot for ranging markets

Capable of making a high number of trades each minute, Bitcoin Era takes the guesswork out of trading. Of course, as the saying goes, bad data in, bad data out so you need to put in the time to set your parameters correctly. Once you’ve done that, you can leave Bitcoin Era to run and make profits from the markets while you work, rest and play. 

Pros and Cons

Pros

  • User-friendly interface
  • Algos are among the best in the market
  • Fast and easy registration
  • Demo feature available for risk-free trading
  • Good customer service
  • Remote access possible via mobile

Cons

  • Needs ranging markets for optimal performance
  • Unavailable in some locations

Why we chose the Bitcoin Era

Bitcoin era put in a decent performance in tests and did particularly well when markets were ranging. In such circumstances, it had a roughly 65-70 percent success rate. Meaning that between 30 and 35 percent of the trades made by Bitcoin Era were loss-making. Our team considered this to be a good enough strike rate for Bitcoin Era to make the cut as one of our chosen high performing cryptocurrency robots of 2022.

4. Bitcoin Profit - Best cryptocurrency trading bot for market downtrends

If you’re keen to remove much of the guesswork from your trading strategy, Bitcoin Profit is a worthy ally. That said, it’s important to use the right tool for the right job and Bitcoin Profit, we discovered, tends to perform better when the markets are trending down. Meaning that, if markets are rallying hard, Bitcoin Profit is unlikely to deliver noteworthy gains. 

Compared to other trading robots, Bitcoin Profit delivers a good user experience and is fairly easy to set up and put to work in falling markets. 

Pros and Cons

Pros

  • Alternative source of passive income
  • Don’t need to monitor or babysit trades
  • Works while you sleep

Cons

  • Limited number of support cryptos
  • Steep learning curve so not ideal for beginners

Why we chose Bitcoin Profit

Bitcoin Profit does well in taking the guesswork out of trading in down-trending markets. When the right conditions are met, Bitcoin Profit takes the emotion out of trading with consistently good results. We also found that this crypto trading bot performed better at times of lower volatility. 

5. Yuan Pay Group - Best automated trading bot for consistency

We put the Yuan Pay Group trading bot through its paces on the one-hour chart and after a few days discovered that, out of all of the bots reviewed, it shines as the best all-round performer after Cryptohopper.

This means that in all market conditions whether moving up, down or trending sideways, Yuan Pay Group was one of the most adaptable bots we came across, holding its own in all environments.

Pros and Cons

Pros

  • Exclusive right to trade China coin or Digital Yuan
  • Secure and user-friendly trading platform
  • Desktop and mobile website for trading on the go
  • Intuitive interface with the quick and easy registration process
  • No transaction fees or charges
  • No deposit or withdrawal fee

 Cons

  • Exclusivity means you cannot buy Digital Yuan anywhere else
  • Not as decentralised as other cryptocurrencies 

Why we chose Yuan Pay Group

We chose Yuan Pay Group because, although it doesn’t snipe tops and bottoms the way a bot like Bitcoin Code does, it has the uncanny ability to quickly fall into lockstep with whatever market conditions it finds itself in. This sort of algorithmic adaptability is rare among trading bots. 

For these reasons, we think that anyone using more than one crypto robot in their overall trading strategy should definitely think about adding Yuan Pay Group to their repertoire.

6. Immediate Edge - Best cryptocurrency trading robot for slow-moving markets

When tested in almost all market conditions, Immediate Edge seemed to lack its ‘edgy’ claim, underperforming in almost all markets. This was to the point that it almost didn’t make our 'best bots' list.

The problem we learned, after testing it for a while, was that it didn't do well when markets were volatile. So, having heard good things about Immediate Edge, we extended the testing period and discovered that Immediate Edge did have a forte after all. Which was that it performed well in markets with minimal volatility, ie very slow-moving markets.

Pros and Cons

Pros

  • A user-friendly interface makes it easy for traders at all experience levels
  • The software is fully automated hence no chance for human intervention
  • Registration is free, easy and fast
  • Excels in slow markets
  • Has a trial account to help traders sharpen their skills before moving on to live trading

Cons

  • Unable to cut risk to zero
  • Users do not have the latitude to select their preferred brokers
  • Very limited capabilities

Why we chose Immediate Edge

For a while, Immediate Edge looked like it wasn’t going to enjoy its moment in the sun. But then, quite by chance, we discovered that this apparent straggler in the algorithmic bot space actually flourished in niche conditions. Namely those with low volume and low volatility.

While most other bots are hamstrung by slow-moving markets, underperforming in the lazy summer months when crypto traders and investors are least active, Immediate Edge kicked into life and delivered. With returns as low as 10 percent in fast-moving markets, Immediate Edge's returns rocketed to 70 percent when the conditions were right for it.

What are cryptocurrency trading bots?

Cryptocurrency trading bots are automated cryptocurrency programs powered by smart algorithms and are capable of identifying temporary opportunities and entering and exiting trade positions (dependent on parameters set by the user) to secure a profit. 

This enables traders to eliminate two major issues associated with manual trading—the requirement for extensive learning and research, and exceptionally quick execution of trade positions. This allows technologically non-savvy individuals who don't have a lot of expertise and experience in terms of crypto trading to trade cryptocurrencies of their choice.

What are the different types of cryptocurrency crypto trading bots?

There are different trading bots for different circumstances, purposes and market conditions. Some of the most well known and widely used types of trading robots include the following:

  • Arbitrage bots - Take advantage of discrepancies in price on different exchange
  • Leverage bots - Are multiplier bots that increase your leverage to maximise your returns (note: losses can also be proportionately leveraged)
  • Sniper bots - Mainly used on low timeframes, these take last second action to get the very best prices close to the top or bottom of rapid moves
  • Market maker bots - Provide market liquidity, market maker bots automate the filling of exchange order books with buy and sell orders ready to be hit by market takers
  • Backtesting bots - Also known as AI or machine learning bots, these crawl through historic data looking for repeated patterns to act upon in the present 

How to Choose a Crypto Trading Bot?

Before you pick a crypto trading bot, you should consider several factors. Evaluate the below-mentioned variables of the bot before you start trading.

  • Trading Costs – Although most of the crypto trading bots don’t take any commissions or spreads, you have to ensure that there are no hidden fees or charges that will eat into your profit margins. If there are any costs, you should be aware of them upfront. 
  • User-Friendly – Choose a platform that you can easily learn to use over a long period. A trading bot that doesn’t have a user-friendly and intuitive UI will become frustrating to use in the long run leading to a subpar trading experience.
  • Payment Modes - Another key variable that you should always consider is the accessibility of a variety of payment methods. Make sure that you are picking an affordable, quick, and easy payment mode so you are in a position to deposit and withdraw your funds easily.
  • Accurate Smart Algorithm – Since trading bots rely on algorithms to execute trades and analyse data, ensure that you are going for a bot that offers the best service in terms of assessing charts, data, and price movements along with executing trades with pinpoint accuracy.
  • Customer Service – Many trading bots don’t offer any communication channel to their users which can be quite frustrating if you run into a problem. Always choose a crypto trading bot that features responsive customer service.
  • Regulatory Compliance – One more aspect of choosing a crypto bot is ensuring the trading platform complies with the KYC and AML regulations. This will keep your data as well as funds safe and secure.

Advantages & Disadvantages of Using Crypto Trading Bots

Pros

Wide variety of coins to trade including the most popular cryptocurrencies.
Easy deposit and withdrawal process with multiple payment methods.
Both amateur and professional investors and traders can use trading bots.
Risk minimisation features like stop loss and take profit.
Personal information and funds remain safe due to adherence to KYC regulation.
24/7 available customer support for your questions and concerns.
Quick and easy registration and user verification process.
No requirement for mandatory cryptocurrency or trading knowledge.

Cons

Leveraged trading might not be a good option for amateurs.
The minimum deposit for trading may be a roadblock for some users.

Methodology - how we test and compare cryptocurrency crypto trading bots

Central to our methodology is battle testing each trading bot in a variety of market conditions, and at different times to qualify, quantitatively and qualitatively, each one’s ability to profit from market movements. 

Each bot we review is tested in isolation and across different timeframes. The individual results are then compared to see where each bot either excelled or underperformed.

By gathering time-stamped data from crypto bots we test and review, we are able to aggregate this information to get an overall impression of how the bots performed collectively—ie an average of their profits and losses. 

We then drilled down into the individual bot's performance over the course of a month to see which ones performed above this average. 

Each bot was put through its paces in uptrends, downtrends and ranging markets on different timeframes to get the best possible overview of performance.

To find out more on how we ensure our content is accurate and well-researched, see our more details on how we test and our editorial policy

Conclusion

We hope this guide was useful and helped you make an informed decision about the best crypto trading bots to help complement your wider trading strategy. 

Ultimately, what you’re looking for is a bot that can handle the prevailing market conditions at a specific point in time. Ascertain whether they are up, down or sideways and pick the bot most suited to those conditions and your chosen timeframe. 

The best crypto trading bots come with a user-friendly interface and all users need to do is define the parameters and trading instructions, restrictions, and preferences according to their trading strategy. 

In the end, a good trading bot should efficiently perform rapid market analysis on your behalf then open trades and exit them with exceptionally high precision and accuracy.

Frequently Asked Questions

  1. Not right away. It is not ideal to quit your day job or primary income source when you start trading. You will need to develop a deep understanding of the market and gain experience before you can make enough money to support yourself just through crypto trading.
  2. While trading experience and crypto knowledge are a plus, they are not compulsory and even amateur traders can use trading bots.
  3. 24 to 48 hours. Usually, you need to submit a withdrawal form that initiates payment processing at the backend.
  4. Most of the bots do. You can contact customer care and find the answers you are looking for and get your concerns addressed.
  5. It depends on the amount of capital you invest along with your investment strategy.
  6. Trading bots mostly rely on contemporary security measures like two-factor authentication and SSL encryption to prevent any security breaches.
  7. Less than an hour. You just need to define your parameters, restrictions, and trading preferences and the bot will do the rest. You should just check now and then to ensure the bot is working according to your instructions.
  8. You can minimize your risk by investing your capital across multiple trades instead of putting the entirety of your investment money in a single trade.
  9. If you configure your bot properly, it can be profitable.

  10. Crypto bots are safe if you: a) use the right bot for the prevailing market conditions; b) set the trading parameters correctly; c) test the bot without using real money first, also known as paper trading.

  11. How much a trading bot can make depends on: what the bot is; what the trading conditions are; how well the bot had been programmed; whether it has machine learning capabilities; and, most importantly, what the underlying trading strategy is.

  12. Yes. Many brokers and exchanges use bots to automate their trading. Using bots removes the emotion of trading and reduces the likelihood of human error. Crypto trading bots are also legal for retail traders to use.

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