A Guide On Best Crypto-Trading Bots For Free

Trading Crypto-currencies involves analyzing the crypto markets and taking advantage of the volatility in the price of digital assets. Traders buy digital assets at low cost and sell them at a higher price. Cryptocurrencies being volatile, their prizes can increase or decrease with time, resulting in either a profit or loss to a trader.

Trading cryptocurrencies can be risky because a wrong entry into the market leads to loss of funds. Traders tend to have fear and emotion in case the market goes against their prediction. To avoid this experience, traders can automate their trading by codding their strategies into a bot.

How Crypto Bots Operate 

Trading bots are programmed on a certain trading strategy through coding. The bot executes trades by following the strategy keenly, leading to reduced fear and emotions among traders. Many trading bots have been coded to simplify the trading process. This guide outlines some of the best free trading crypto bots.

Best Free Trading Crypto Bots In 2024

Superalgos

A trading bot that operates on a vast system focusing on producing smart trading strategies by integrating crucial elements. The bot is flexible and has advanced tools to simplify complex trading concepts. 

Features

  • It has a visual interface that simplifies complex trading concepts 
  • Downloads market insights from crypto exchanges 
  • Supports indicators to process data 
  • Allows user to train machine learning algorithms (tensor Flow)
  • Debugs strategies and tests them
  • Accommodates all types of deployments and setups
  • Enables users with little knowledge in codding to build indicators 
  • Supports paper trading, forward testing, live trading, and backtesting 

3commas

A platform that offers crypto trading bots that are not complex. The auto bot operates on reliable systems and algorithms. 3commas bots are programmed to reduce the loss ratio and make the most of profits. It is a beginner-friendly platform that is easy to use.

Features

  • Allows users to learn how to operate the bot by incorporating an academy
  • Users can use different modes of payment
  • Empowers users to trade efficiently because it has indicators 
  • Users have access to a free trial period 
  • Users can manage multiple exchanges
  • Customizable to receive notifications

Growlonix

An automated crypto bot utilizing AI-assisted Hedge and Dual bots for profitable investing. The bot has features that favor both beginners and pro-crypto traders. Growlonix has advanced features that minimize risks while taking trades. 

Features

  • Optimizes profits using AI-powered bots
  • Users can store funds in their chosen crypto-exchange
  • Friendly interface that is clear for beginner traders and pro traders 
  • Can work with top cryptocurrency exchanges 
  • Ensures timely trading by having automated signal functions in various platforms such as Telegram
  • Allows users to paper trade and test their strategies without fear of losing money.

PyCrypto

A free crypto trading bot operating under secure functions and algorithms encrypted in Python. The bot allows the delivery of messages to apps and the telegram web. PyCrypto allows users to add all their commands to enable easy access.

Features

  • Allows easy addition of new models
  • Allows the user to do bot configuration in their preferred way 
  • The bot accommodates technical analysis 
  • Enables users to switch between test and live mode 
  • Supports top crypto exchanges 

Freqtrade

Freqtrade is a free bot coded in Python and controlled by Telegram to support all significant exchanges. The bot software is supported on Linux, Windows, and macOS and can used to trade on top exchanges.

Features 

  • Allow users to develop strategies using Python 
  • Allows users to access data on crypto exchanges 
  • Enables users to test their strategies 
  • Users can control data using Telegram 
  • Enables users to identify best strategies using hyper-optimization 

Octobot

A trading bot developed in 2018 using Python and can be used to automate many strategies.

Users can also add their strategies to the bot using inbuilt features. The bot is supported in many operating systems and is accessible on its web interface, Octo bot app, or telegram web.

Features

  • Allows users to share their strategies easily 
  • Users can code new strategies using Python
  • Users can follow the bot on the app or Telegram 
  • Support leading crypto exchanges 
  • Enables new users to choose prebuilt strategies
  • Supports indicators 
  • Allows users to be in control of their funds 

Pionex

Pionex operates as a crypto exchange and as an auto-bot. The bot has advanced features that ensure it maximizes profits and reduces losses. Pionex crypto exchange is location-specific and only operates in Singapore and the USA.

Features

  • Enables users to make profits through grid trading 
  • Allows users to access prebuilt auto bots
  • Enables users to take advantage of market volatility using an arbitrage bot
  • Pionex is a licensed platform 
  • Cost-efficient since the bots are free 

Pros Of Crypto Trading Bots 

  • Bots have no emotional attachment to trading 
  • Saves time 
  • Fast execution of trades 
  • Saves from the fatigue of market checking 
  • Continuous trading 
  • Can generate profits if programmed properly 

Cons Of Crypto Trading 

  • Difficult to find a suitable bot 
  • Some bots may lead to a loss of funds 
  • Setting up a new bot can be time-consuming
  • some bots are complex to operate 

FAQs

  1. Can a crypto trading bot make a loss on the market?

Yes, it can! The cryptocurrency market tends to be highly volatile and difficult to predict. A trading bot can also incur a loss in the market.

  1. Can I use more than one bot to trade?

Yes, you can! Users can use as many trading bots as they want, however, It is advisable to run one trading bot at a time to avoid losing funds in case of a wrong entry.

  1. Can I share my trading with someone else? 

Yes, you can! Crypto-trading bots can be shared. Users only need to run the bots on preferred crypto exchanges.

Conclusions

Trading bots reduce the hustle of trading cryptocurrencies because users only monitor the bot, not the market. A trading bot can only be effective if it matches your strategy and meets your trading requirements. Choosing the right bot for you requires proper analysis of your trading style. The list above will guide you in selecting your preferred crypto trading bots.