With the growth in the popularity of trading bots, one might wonder how does trading bot work. In fact, the very nature of the crypto market has made trading bots necessary. The stock market at times sleeps or closes. However, the same does not hold true for the crypto market. As a result, a crypto market is a difficult place for casual investors and traders. The existing crypto users might have had the experience of waking up to a huge loss or a huge gain. The trading bots become highly effective in this regard.
A trading bot allows the traders to be in control of their trading at all times. Moreover, a quality trading bot also makes the transaction smoother and faster, than compared to manual trading. In fact, all these facts have raised the popularity of trading bots. Increased popularity, on the other hand, has resulted in the arrival of numerous trading bots in the market. However, not all trading bots are safe and effective. There are both free and paid trading bots available in the market. If you have recently searched the internet with the phrase “ how does trading bot work”, then this article is the correct stop for you. Therefore, keep reading the article know about the top trading bots available in the market and also to find answers to “how does trading bot work”.
The Trading Bots
The quality trading bots that are available in the market are:
Coinrule
This trading bot is comparatively new in the market. However, that does not prevent it from housing some really interesting features. What makes this trading bot more interesting is that it is suitable for both beginners and experienced traders. In fact, most of the prominent exchanges like BitMEX, Binance, Kraken, and Coinbase Pro work perfectly with Coinrule. To use this trading bot, you can get a paid subscription in the range of $29.99 to $249.99 per month. However, if you wish to access it for free, Coinrule also provides you with that option.
How Does Trading Bot Work: Cryptohopper
Cryptohopper is a well-established trading bot in the scene of auto trading. In fact, it houses a host of attractive features. Firstly, Cryptohopper does not require any installation, since it is a cloud-based system. Secondly, it enables you to take full advantage of the bull market. In addition, the highly intuitive dashboard of the platform lets you start trading in less than 5 minutes. It also features a stop-loss option and will not charge any trading fee. You can the free trial for one month and then can upgrade to Bunny ($19 p/m), Hare ($49 p/m), or Kangaroo ($99 p/m).
Quadency
If you are looking for another quality trading bot, then Quadency is a perfect option. In fact, it provides automated portfolio management and trading solutions to both retail and institutional traders. It also provides a smooth experience of dealing with cryptocurrencies. In fact, it also supports all prominent exchanges.
How Does Trading Bot Work: 3Commas
If you want a trading bot that works perfectly with Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi, and YOBIT, then 3Commas is a great option for you. In fact, it is a very popular trading bot. The most interesting fact about it is that it remains active for 24 hours, as it is a web-based system. In addition, you can also control your trading from any mobile, tablet, or laptop. The ETF-Like crypto portfolio feature allows you to analyze, create and test a crypto portfolio.
Exchange Valet
It is a trading toolset and crypto portfolio management platform. It also provides a number of commonly used trading tools like simultaneous stop loss and taking profit orders, which the other trading bots rarely provide. Therefore, it is a great option for traders.
Cap.Club
This trading platform from Russia works on Binance and Bittrex. In fact, it lands you in a sea of attractive features. You can easily use its simple interface to buy and sell algos. This platform is also available in two versions – the free version and the full version. In the free version, you can access all trading strategies, but with certain limitations. The full version on the other hand is free from any such limitations. Moreover, the full version will communicate to you via email and Telegram. If you upgrade to the full version, it will cost you around USD 30 per month.
How Does Trading Bot Work: Hasbot
This is a creation by Haasonline which allows you to trade both Bitcoins and other cryptocurrencies. In fact, this platform has become one of the most prominent ones in recent times. It also requires minimal input from the users. However, it is a bit expensive. It charges you between 0.04 BTC and 0.07 BTC for three months. In fact, it is supported by all major systems like Windows, macOS, and Linux.
Concluding Lines
These are the prominent trading bots that you can avail yourself of in recent times. In addition, addressing the question – “ how does trading bot work”, we also had our answer. In fact, there are so many trading bots available in the market, that any generalisation would be incorrect. Every other trading bot has its own working procedure. Therefore, exploring the prominent trading bots in the market, the question – “how does trading bot work” can be the best answered.
Also read: Everything You Need To Know About The Bitcoin Koalas
