What is your crypto trading strategy?
Whether you want to hedge with derivatives, run a short term speculation or just buy and hold, there is a crypto bot that can make the work easier.
In this guide we’ll start by listing the best crypto trading bots. If you want to learn more than the brand name overview, keep reading below the list.
List of crypto trading bots by strategy fit
Third-party (auto-trading & auto-DCA)
The top three brands for automated crypto trading bots are:
- Shrimpy, for portfolio-preservation strategies
- Coinrule, for easy trading on technical indicators
- 3commas, for black-box grid bots (buy dips sell tops)
For simpler trading strategies such as DCA, there is no need to pay for a trading bot. You can automate your DCA directly on some exchanges:
- Independent Reserve, for auto-DCA and auto-basket buy or sell between AUD and crypto
- FTX.com, for auto-DCA or anything else you manage to set up via the Quant zone
- DCA recipe for FTX here
- This isn’t for the faint of heart, there’s an actual line of code displayed TRIGGER WARNING
Trading bots for DCA Strategies
DCA bots execute an automated crypto accumulation strategy.
DCA, or dollar cost averaging, is a long-term bullish position. If you think the price of an asset will grow at some point within the next 1-10 years, you are long-term bullish.
If you want to put your money where your bullish sentiment is, but you do not want to waste time trying to get the perfect entry price^TM, you want DCA.
With DCA, you scale into your position by making small regular purchases. You can use the same step-by-step method to exit the market as well.
- More on the method: ATNET Strategy > DCA
- How does a bot help: To make sure you still buy even if the price is moving up (too expensive!1) or moving down (going to zero!1)
- Where to get the bot:
- How much does the bot cost: Nada, with the exception of Coinrule
- Auto-DCA Recipes & Templates:
Trading bots for TA Strategies
TA, or technical analysis, has a number of pattern trading strategies that can be executed pretty much automatically.
Especially with short term techniques like scalping, the human factors of emotions, stress and mental fatigue can work very much against you.
Examples of TA classics that can be automated
- Scalping the Bollinger bands: Buying at the bottom line touch, selling the top line touch.
- MACD crosses: Buy on bullish cross, sell on bearish cross on shorter timeframes.
- RSI, oscillators and their derived transformations: Buy on oversold or other bullish signal, sell on overbought or other bearish signal on shorter timeframes.
Of course you can keep trading alt coins directly from your cryptocurrency exchange, if you want to.
But short term trading is mentally draining to most people. With an automated strategy you can still participate in the market with limited babysitting of your positions.
- More on the method: ATNET Glossary > TA
- How does a bot help: Automation will minimise the time spent on sitting at your desk watching charts.
- Where to get the bot: Coinrule for no-code solution
- How much does the bot cost: Free for volumes below 3K USD per month, or 25% off with this link.
Coinrule - TECHNICAL ANALYSIS, NO CODING - (free/premium)
Coinrule bot lets you automate TA-based strategies with no coding knowledge required.
The interface is user friendly and intuitive, you are just moving around boxes. Check the example Coinrule template here
- No coding required to write your trading strategy
- No coding needed even to backtest your trading strategy
- Supports DCA
- Supports technical analysis strategies
Coinrule is free for traded volumes below 3K USD per month. It’s good enough to test it, for after that get your 25% off with this link. Paid plans start at 29.9 USD per month, depending on your volume and number of active strategies.
Coinrule supports bot trading on big exchanges like Binance, Bitstamp, Kraken, Bitfinex, OKEx and more.
Shrimpy - PORTFOLIO MGMT (free/premium)
Shrimpy is an automated crypto trading bot designed for long-term and short-term portfolio-wide strategies.
Shrimpy makes it really easy to build simple trading patterns such as rebalancing of your asset ratios. Shrimpy provides a range of ready-made portfolio management strategies such as rebalancing, dollar-cost averaging (DCA), and portfolio-wide stop-loss.
Executing more complex trading strategies on Shrimpy will require Python coding. But Shrimpy has an active dev community where you can ask for support from other traders. There us also a vast knowledge base right on the Shrimpy website.
You can also set up a custom strategy or go for social trading and copy strategies from the top traders on the Shrimpy platform.
- No coding required for portfolio rebalancing
- Supports social trading
- Supports DCA
- Supports technical analysis strategies
The FREE Shrimpy plan only lets you set up your portfolio tracking, there’s no trade execution included.
PRO plans with strategy automation and trading bots start at $15/month, or if you use our shill link, $9/month.
Crypto bots for Lending Strategies
Margin lending on spot crypto exchanges can become a race to the bottom pretty quickly.
Swap lending on perpetual swap markets is different, the interest rate there has a stabilising function.
But with plain margin funding, the rates get unreasonably low whenever there’s a bunch of people submitting offers just below the market. This happens because most people submit their lending offers manually. They want to make sure their offer gets filled and try to front run the best ask.
In margin lending, you will get better lending yield if you let your lending execute automatically.
Basic automation with Bitfinex Lending PRO
Bitfinex recently rolled out the “Lending PRO” interface that is available in the web interface from the top menu under “Lending”.
You can set your minimum acceptable rate there, let’s say 0.009 per 3 days at BTC lending market. Your lending wallet balance will be automatically offered when the rates are above that level.
You will not be tempted to get “at least something” when the rates have momentarily dropped to ridiculously low levels just during the two minutes you are checking them.
- More on the method: ATNET Strategy > Lending
- How does a bot help: Automatically offers your lending wallet balance for the best possible rate as long as the current rate gets above your minimal required rate.
- Where to get the bot: Bitfinex
- How much does the bot cost: Nada