5 Free Crypto Trading Bots You Should Use In 2021

Time and tide wait for none. 

While this is an old saying, it perfectly defines the financial markets today, especially the extremely volatile cryptocurrency market.

Unlike the traditional stock markets, crypto trading marketing hardly rests. It is always on and welcomes you to trade more, thus making it virtually impossible for private (traders/investors) to monitor market fluctuations, diversify risk, minimize mistakes and ensure trading discipline 24 hrs, 7 days a week, and 365 days a year.

Investors worldwide can take part in cryptocurrency trading any time of the day and night.

Due to the collective impact of these major factors, the effectiveness of human cryptocurrency trading is confined in many ways. 

Many a time, investors aren’t able to react fast enough to changes in the price to obtain the optimal trades. 

Moreover, investors cannot continuously track the cryptocurrency markets to obtain the best trades and monitor the cryptocurrency exchanges around the world.

This is where crypto trading bots come to assist you. The crypto trading bots are not more than automated tools that work as your proxy when it comes to trading and executing transactions on your behalf. 

The key purpose of these crypto trading bots is to raise revenue and reduce risks as well as losses. 

Best of all, you can use these trading apps to manage all your crypto exchange account in one place and buy as well as sell cryptocurrencies such as Ethereum, Litecoin, Bitcoin (BTC), and with ease.

What is a Crypto Bot?

A crypto trading bot is a computer application, program, or software that allows you to buy and sell cryptocurrencies, based on predefined specifications. 

The majority of crypto trading bots function straightforwardly, for example, you can program and authorize a trading bot to trade or execute an asset only if it touches a specific price point.

Once your bot is authorized, it can place and execute an order on your behalf, this way getting you rid of the rigmaroles of continuously monitoring your platform throughout the day to check the price movements for cryptocurrencies you’ve invested in.

So, based on your unique trading strategy, you can customize your crypto trading bot to execute orders.

Types of Crypto-Trading Bots

There are primarily four different types of crypto trading bots such as:

1. Market making or market maker bots

These types of crypto trading bots use orderbook spread to get you profits. Their placeholder price differs from the market price. This way, they earn money for the owner of the software,

They keep scanning for the market with a wider spread and do it 24/7, thus giving you an edge of time, price, and volume. So, the primary principle is to sell to an investor at a greater value than a selling price and do it most probably most often.

2. Trend trading bots

These types of crypto trading bots consider the momentum of a specific asset and, after analyzing it, execute buy or sell orders. To ascertain a trend, they use price action or other technical indicators, such as trend lines, momentum indicators, moving averages, and chart patterns.

3. Coin lending bots

These types of crypto trading bots help traders in automating the process, spending minimal time seeking the right interest rate, and taking advantage of potential spikes in lending options.

4. Arbitrage bots

These types of crypto trading bots are programmed to monitor the difference between the coin’s price in varied markets. They spot prices across exchanges and make trades, based on discrepancies. They buy a coin when its price is low and sell it when its price is higher.

Best Cryptocurrency Trading Bots

Here are the 5 free crypto trading bots with their salient features and website links.

Pionex

This Grid Trading Bot is one of the world’s first exchanges with 12 Free trading bots.

This smart trade terminal lets you automate your trading 24/7 without tracking the markets.

This crypto trading bot is one of the biggest Binance brokers and aggregates the liquidity from Binance and Huobi Global.

Features:

1. Spot-Futures Arbitrage bot helps retail investors to make passive income with low risk.
2. Smart Trade terminal allows traders to set up stop-loss, take profit, trailing in one trade.
3. Its trading fee (0.05% for maker and taker) is lower than other major exchanges.
4. It is the U.S. FinCEN’s MSB (Money Services Business) License approved
5. It allows users to buy low and sell high in a specific price range.
6. The estimated return for this strategy is 15~50% APR.
7. Its leveraged Grid Bot helps with up to 5x leverage.
8. It has 12 free trading bots for retail investors.

• Exchanges: Binance, Huobi global, Pionex
• Mobile Apps: iOS & Android
• Price: Open source

Trality

This crypto trading bot is for everyone looking to get benefits from algorithmic crypto trading without leaving his/her day job. Its state-of-the-art tools help in creating highly intricate and superbly creative algorithms within an educational, community-powered infrastructure that endorses learning and development as a trader.

Features:

1. Cloud-based live-trading. Your algorithms run reliably 24/7 and never miss a trade
2. In-browser Python code editor (for advanced traders who know Python)
3. Drag-and-drop graphical interface (for beginners)
4. Blazing-fast backtesting module
5. Curated, pre-defined strategies

• Exchange: Binance, Kraken, Bitpanda, Coinbase Pro
• Mobile Apps: Coming soon
• Price: Open Source

Cryptohopper

Looking for a  crypto trading bot that lets you manage all crypto exchange accounts in one place? Cryptohopper may be the perfect crypto trading bot.

You can use this crypto trading bot to trade for BTC, Litecoin, Ethereum, and more.

Features:

1. This bitcoin trading robot helps you in creating your own technical analysis.
2. Algorithms support EMA, RSI, BB, and other common signals/indicators.
3. It keeps your account protected with secure protocols.
4. It helps with real-time performance reports.
5. It comes with a user-friendly interface.
6. It offers strategies and bot templates.
7. iOS and Android Mobile Apps
8. It keeps your data private.

• Exchanges: HitBTC, Okex, KuCoin, Bitvavo, Bitpanda Pro, Huobi, Poloniex, Kraken, Bittrex, Bitfinex, Coinbase Pro, Binance
• Mobile Apps: iOS & Android
• Price: Open Source

Quadency

This digital asset management application allows for an automated trading solution for both institutional as well as retail traders. 

This crypto trading bot helps in streamlining the process of investing in cryptocurrencies.

Features:

1. It offers plenty of automated tools and advanced TradingView (social network) charting.
2. It comes with a variety of easily customizable trading bots.
3. It helps you in trading on Bittrex, Binance, and Kucoin.
4. It allows you to customize bots with ease.
5. It has a good level of customer support.
6. It supports automated trading.

• Exchange: AAX, Binance, Bittrex, Kraken, KuCoin, Liquid, OKEx, Binance US, Bitfinex, Coinbase Pro, Gemini, HitBTC, Poloniex
• Mobile Apps: iOS and Android are under development
• Price: Open Source

Coinrule

You can use this automated crypto trading bot to trade for Binance, Kraken, Coinbase Pro, and more exchanges. This has 130+ trading strategies templates.

Features:

1. It has a market indicator that helps you to allocate funds with ease.
2. It allows you to test rule performance on past data.
3. It comes with military-grade encryption.
4. It offers real-time customer service.
5. It sets custom rules for trading.
6. It lets you trade 24/7.

• Exchanges: Binance, HitBTC, Coinbase Pro, Okex, Bitstamp, Bittrex, Poloniex, Kraken, BitMEX, Bitfinex, Bitpanda pro, Liquid, Binance US
• Mobile Apps: Coming soon
• Price: Open Source

After reading the article about the 5 free crypto trading bots, we hope that you would like to know more about other crypto trading bots and cryptocurrency consultant who can best guide you in selecting an ideal crypto trading bot.

If you have any questions about which crypto trading bots you should use and can help you get more benefits across the year of 2021, we would be happy to answer them in the comment section below.