Top Crypto Bots for trading in 2022

Mahdi Freezetime
6 min readJan 1, 2022

What exactly is a Cryptocurrency Trading Bot?

A cryptocurrency trading bot is a form of software that has been specifically designed and written to study and analyze all the different cryptocurrency markets and they also have been designed to spontaneously place orders on the trader’s behalf. It is an automated crypto trading approach and process which contains technical analysis and employs algorithmic trading procedures to do trades at an ideal moment to make a steady profit. The top crypto trading bots are often tweaked by their handlers to meet their very own trading likings but they all need to be monitored and maintained regularly to make sure they’re performing as well as they are meant to.

Which Trading Bots to Choose?

There are a lot of things that anyone should need to look for when they are looking for and choosing the best crypto trading bot and platform, particularly when you consider the financial influences that choosing a bad one could have on your overall portfolio and assets. Some of the things to look for to be considered one of the best crypto bots are:

I. Safety

Your bot has access to your assets, and every so often to your exchange account as it must have a trading platform to perform the cryptocurrency trading tactics that you or the moderator have set for it. Selecting an unreliable trading bot could naturally result in losing some of your assets if not all.

II. User-friendliness

Although the best trading bots, in general, don’t have to be easy to use, it is most definitely something that is treasured by both rookie and advanced traders. The whole point of using a bot is to make your trading calmer and easier. Try and look for a bot with a user-friendly interface.

III. Effectiveness

The whole point of using a cryptocurrency trading bot is to automate the trading process to generate a steady profit day and night. The best cryptocurrency trading bots generate the most profits for their users. Do some research into the profitability of a bot before using it because Reliable companies will provide valuable information on their bot’s effectiveness since they have nothing to hide.

IV. Speed

Cryptocurrency bots in general can examine and study the very different market circumstances in multiple cryptocurrencies markets, concurrently, and perform trades whenever there is an opportunity for making a profit. But humans can only evaluate and monitor market conditions by analyzing them each by each, so naturally, one may eventually miss out on many profitable trades just because they are looking and monitoring another crypto asset or market. Bots can do the very same thing much faster and frankly, they do so much more efficiently.

They can also do dull, boring, and repetitive tasks such as episodic rebalance much faster. they can also execute trades instantaneously thus making their trades more effective and more precise.

V. Strategy

There are a lot of different strategies that a bot can take advantage of, and most cryptocurrency bots come pre-programmed with one of them. So keep this in mind before risking all your assets.

Will Traders Pay taxes on Cryptocurrency Trading bots?

Tax laws differ around the world, but profits from trading the cryptocurrency or any sort of stocks are treated as “short-term capital gains” and in the USA what this means is that one will have to pay some sort of tax on them which varies from 10% to 30%. so definitely make sure that you are putting aside a share of your profits solely for the taxes.

Here are some of the best Cryptocurrency Trading Bots:

3# Cryptohopper

Cryptohopper is based in the Netherlands and they provide a jam-packed service that enables its handlers to easily trade multiple cryptocurrencies in different markets while deleting the human fragilities from the trading process.

Cryptohopper Bot Dashboard

with the help of Cryptohopper, more skilled traders can reprogram their very own bot according to their very own desired strategies. And Like most trading bots, there is an option to configure, arrange and program the bot to automatically trade all the time 24/7. Different trading strategies can be the result of various technical indicators or the result of following the actions of third-party Advanced Traders. And Just Like all the trading bots, Cryptohopper users aren’t required to transfer any money or crypto asset into an account that is controlled by the bot or its programmers, because the bots usually work through API Keys which allows them to perform trades through connected exchanges. For strategy employment, it is so essential to provide the API keys that have been generated on your exchanges, and these keys give the trading bot restricted access and permission to your exchange account just for the sole purpose of trading.

2# 3Commas

3Commas provides a complete and inclusive cryptocurrency trading platform that like most many other trading platforms, allows its users to use automated bots. 3Commas also allows its users to follow and copy the different strategies of successful traders and top portfolios.

3Commas Bot Dashboard

3Commas also provides access to several very useful tools which have been designed to improve the overall efficiency and success of their user’s trading process. There are more than 30,000 active traders all around the globe who are using their services. The platform also generates over $8m of daily trading capacity. 3Commas works with many different exchanges such as Coinbase, Binance, and Bitfinex.

1# PlayOnBit

PlayOnBit is the first-ever trading terminal with an AI Enhanced Bitcoin Trading Bot. Their goal is to provide the very best AI Enhanced customizable margin trading bot, and they also do so with very competitive prices. PlayOnBit lets you create straightforward tools for setting customizable trades, and it does not require any coding skills at all. Since PlayOnBit is not an exchange, you must choose your preferred exchange, and connect them using API keys. PlayOnBit also allows you to have the option of back-testing your different trading strategies through what is called Paper Trading.

PlayOnBit cares a lot about safety too, the platform sets trading rules, uses military-grade encryption, and works with the top crypto exchanges.

By using PlayOnBit, you can link your trading accounts, like Binance or BitMEX, all in one place. This can greatly simplify your portfolio management and increase the ease at which you trade Bitcoin.

This Platform can also be a huge crypto trade assistant for seasoned and veteran traders too, because It features dynamic risk management and aims to catch the best trading opportunities and thus greatly reduces errors caused by human input. Whereas it is also possible to turn the automated trading feature off and have full manual control over your trading process, you can also take advantage of P/L Checker feature to maximize Profitability.

PlayOnBit Bot Dashboard

PlayOnBit does not collect payments or personal information directly, instead of routing all payments through API keys. This extra layer allows PlayOnBit to secure your information.

PlayOnBit uses different prices for diverse levels of traders which include the Bronze, Silver, Gold, and Platinum plans. The Bronze plan is free. You receive Hourly Signals and automated trading.

The Silver plan is $19 per month. You can trade for up to 2,000$ in the bot’s balance, get hourly trading signals and automatic trading, which is very convenient. The most interesting plan is the Platinum plan which is $499 per month and it includes all the features of the other plans like automatic trading and Auto-trading and Stop-loss feature, plus a whole dedicated fully programmable AI Machine to trade up to $200,000 in Bot’s Balance.

the world of cryptocurrency is growing, and thus crypto traders are each day being presented with an increasing number of services that have been designed to help and simplify the truly harsh traditional trading process and help traders of all skill levels to have consistent positive gains. This also requires traders to keep an eye out for the most profitable ones so that they can take the most advantage out of their hard-gained assets.

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Mahdi Freezetime
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AI Engineer & Network Administrator