In the old days, it took years to become a financial trader. But with the advent of trading bots, anyone can use a bot to trade any asset, including cryptocurrencies.
Bots do not require any technical knowledge to use, as there are existing rules that you can use immediately. They are also safe to use because they don’t have access to your money.
Some robots have features that are tailored for use by advanced traders, while some have features that are more suitable for beginners. The following are seven of the best crypto trading robots for beginners.
1. Co-management
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 user interface that anyone can quickly figure out how to use. As a beginner with no technical skills, you can use the existing trading rules and start trading.
The platform has a backtesting feature so you can test any strategy or rule you create before implementing it in real trades. You should learn what crypto trading strategies are and how they work, as the right strategy can reduce your chances of losing your money.
There are three types of accounts you can use, the first one is completely free with no limit on usage and a decent number of features available. You can always stick with it and get comfortable before moving on to paid plans when you are more comfortable with the bots.
Furthermore, there is a long list of exchanges to choose from, including Binance, Coinbase Pro, OKEx, HitBTC, Bitstamp, Bitpanda Pro, Kraken, Poloniex and BitMEX.
2. Crypto jumps
Cryptohopper is a crypto-bot trading platform designed to suit both beginners and experienced traders. The platform has an algorithm that utilizes all market conditions to your advantage and ensures that you do not miss a price pump or get caught in 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 a generally good average purchase price.
Another notable feature is mirror trading, which allows beginners to copy the trades of professionals. This allows them to earn money if their mentor earns, and they get to learn how to trade in the process.
Cryptohopper also has a free account that you can use to test the waters and also a backtesting feature that helps you try out 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 robots, which automatically buy crypto assets low and sell high. This is a feature that makes it suitable for absolute beginners.
It is also noteworthy that the trading robots on Pionex are completely free to use. Only a fixed fee of 0.05% is charged for buy/sell orders and you have to pay for network fees which are deducted automatically.
Pionex also has unique combination robots. The first is a Grid trading bot that places buy and sell orders automatically at set intervals, thus requiring no effort from you.
The second group is the crypto arbitrage robots that exploit price differences on different exchanges to make money. Last is a DCA bot that buys at random prices (not completely random, well!) to arrive at an overall fair purchase price, thus turning the market in your favor.
4. 3 Commas
3Commas is another beginner-friendly trading bot platform for trading cryptocurrencies. Trades are executed automatically 24/7, all you do is set the buy/sell prices to be executed and the bot takes profit and stop loss automatically.
It also has the copy trade feature, which allows you as a user to copy the trades of experienced traders, increasing your chances of making money and giving you a chance 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 having Grid, DCA and Options robots, 3Commas also has a HODL bot that automatically buys cryptocurrencies at low prices and holds them for the future, making it easy to stack rate and other assets.
5. Tradesanta
This is an all-in-one platform for trading all things crypto either manually or using crypto bots. The platform’s design allows you to place orders from multiple exchanges using indicators such as RSI, which you can easily learn to use.
Available bots 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 an absolute beginner). Also, there is a demo account that you can use to try out the platform with training funds before placing actual orders.
Tradesanta does not offer a free account, but it may be worth using considering the convenience it offers for 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. Wunderbit
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 profit, stop loss and trailing stop to any order, making it a unique platform.
New traders can also copy the trades of mentors to learn trading while reducing the chances of losing and increasing the chances of winning. Trading signal providers are also available on the platform to provide beginners with signals they can easily trade.
You can use the DCA bot and the portfolio tracker, which allows you to track your portfolio on the go when connected to an exchange.
Another important feature is the ability to manage multiple accounts and trade using different application programming interfaces (APIs) from one exchange at the same time.
7. Shrimpy.io
If you are a beginner looking for a place where you can do all things crypto, Shrimpy is a place you should consider. An automated crypto trading platform, it also allows you to connect up to 30 wallets and exchanges so you can coordinate all your activities from one place.
As a beginner, you may need some guidance in the beginning. Shrimpy provides this through the copy trade feature, which allows new traders to copy trades of more experienced ones.
You can also imitate the digital asset portfolios of investment funds such as Coinbase Ventures, Blockchain Capital or Binance Labs, making it a place to learn crypto investing as a whole. You can also test new strategies before applying them to your trades.
There are no free accounts, and a subscription starts at $15 a month for the starter plan.
Trade like a pro using a crypto trading bot
You can use any of the listed bot platforms to start your crypto trading journey today. Furthermore, it is possible to trade like a pro with the robots as they require almost zero technical skills to operate.
The influence of your emotions on trades is also drastically reduced when using bots, making your trades more likely to win rather than lose. Most are also free, so you can easily try one today. But remember that investing and trading using a cryptobot is the same as any other type of investment. You can still lose money, and profits are far from guaranteed.
