Comparing the Best Crypto Bot (Manual or Automated) to Maximize Your Returns

As an emerging market, cryptocurrency trading has seen considerable growth and progress. This popularity growth may be attributed to accessibility considering that more crypto trading platforms have emerged bringing in diverse audiences further driving its expansion.

With this continuous growth and expansion, the need to seize every chance and opportunity in every investment arises. As such, traders are now seeking tools that assist them in monitoring the market and targeting investments that can maximize their returns. While it is still up for debate whether utilizing a crypto bot is essential or not, many traders seem to find that it can enhance their decision-making process at least when it comes to trading.

Below, let us get to know what crypto trading bots are and explore some of the best crypto bots in the market that can maximize your returns.

What Are Crypto Trading Bots?

Ever since the boom of cryptocurrency last 2020, the number of crypto traders has been increasing. These traders only have one goal and that is to increase their returns and lessen their losses as much as possible. As such, they have to sit and analyze the various trends in the crypto market, stay up to date with the crash and rise of stocks, and make informed decisions and predictions about a particular trade.

Considering how time consuming and rigorous the trading process can be, most, if not all, crypto traders acquire trading bots to improve their investment decisions while minimizing losses. In brief, crypto trading bots are computer programs that interact with various cryptocurrency exchanges to initiate trades on your behalf based on your pre-defined criteria. Depending on the program, these trading bots can trade 24 hours a day, seven days a week.

As more and more traders are using crypto bots, the number of options available in the market is also rapidly increasing. This makes it difficult for traders to choose the most efficient and suitable trading both for their investment needs. For some traders, they browse through various crypto forums and review sites that often provide a list recommending some of the best crypto trading bot platforms that are currently making waves in the market. In some recommendation lists, they review a trading bot based on its fees, the various pros and cons, and trading experience.

Despite the high recommendation on traders to use a crypto bot, trading experts always remind traders that the use of one does not always guarantee profit. Accordingly, using one is still a risk a trader consciously and willingly takes.

3 of the Best Trading Bots Compared

Upon weighing the pros and cons of using a crypto trading bot and you still want to use one, there is nothing left to do but to choose a reliable and well-reviewed bot efficient in monitoring market conditions and that complements your strategies and level of experience in trading.

Below, let us explore three of the best trading bots and let us evaluate them together according to its price, pros and cons, and level of experience in trading.

Trade Santa

This cloud-based, automated trading platform positions itself as an easy-to-use trading bot that offers a high degree of customization and adaptability. It also considers itself an all-in-one platform that runs on top crypto exchanges.

As to its price, TradeSanta offers three choices of subscription: Basic at $25/month, Advanced at $45/month, and Maximum at $90/month.

One of the pros in using TradeSanta is that it features a simplified interface well-suited for beginners to make trading an easy thing to do. Aside from that, they offer 24/7 support so that when traders experience hiccups in trading they can easily raise their concerns and have them answered. Lastly, it is a pre-configured bot so that even the beginner traders can easily trade right away.

While there are pros in using this trading bot, there are always cons. Although TradingSanta is considered to be a beginner-friendly trading bot, this may not appeal more to advanced traders. Particularly, its lack of customization options may feel limiting to traders that have been in the game for years.

Shrimpy

Aside from TradeSanta, Shrimpy is a trading bot considered to be a popular one in the trading community and often accessible to both beginner and intermediate traders. It positions itself as a platform for both beginners and advanced traders to assist them in efficiently building a crypto portfolio.

As to its pricing plans, it offers three choices: Zero, offered as a free plan that offers traders with unlimited spot trades, one portfolio, three backtests per day, and one-day rebalance period limit. There is also a Standard Choice at $15/month offering unlimited spot trades, five exchanges, five portfolios, twenty-five backtests per day, customizable rebalance period, and dynamic indexing. Lastly, there is the Plus plan at $39/month offering unlimited spot trades, twenty-five exchanges, ten portfolios, 100 backtests per day, customizable rebalance period, dynamic indexing, and reduction of fees with market traders.

One of the pros in using Shrimpy is that even in its free version, it already offers a large number of features. Additionally, it offers a social trading option that allows traders to follow each other. While there are pros, there are cons. In particular, its performance charts are often lacking in detail, making them vague for traders.

CryptoHopper

Last on the list is CryptoHopper, a trading bot that caters to traders of all experience levels. This trading bot is a cloud-based platform that offers high customization and trading adaptability.

As to its pricing plans, it offers four choices: Pioneer, offered as a free plan that provides traders with unlimited copy bots plus twenty open exchanges, portfolio management, and free manual trading on all exchanges. There is the Explorer plan at $29/month with 80 open exchanges, ten-minute strategy interval checks, backtesting, 15 bots to scan markets, strategy designer, and trading signals. Another is Adventurer at $69/month with 200 open exchanges, five-minute strategy interval checks, 50 bots to scan the markets, and 25 portfolio bots. Lastly, there is the Hero plan at $129/month with over 500 open exchanges, two-minute strategy interval checks, 75 bots to scan the markets, AI strategies and AI designer, extra technical indicators, and 65 portfolio bots.

One of the pros in using CryptoHopper is that it would be an excellent choice for advanced users with a lot of trading features. One of the cons in using this bot platform is that it often has the most expensive trading fees.

What’s the Verdict?

In choosing the best trading platform, the choice will ultimately rest on the trader himself. While recommendations abound, it is still up to the trader to choose which suits their trading strategy and maintenance budget.

At best, what these recommendation lists and review sites can do is provide a wide variety of options, and the best thing the trader can do is rely on their gut and instinct. Accordingly, take a look at these recommendations and decide which among the trading bot platforms suit your trading preferences.