ABOUT TRADING BOTS II.
A 2-article mini series – part II
In our previous article (you can read it here), we answered the most frequent and most important questions about trading bots. In the second part of our 2-article mini series we are taking a look at the most popular, best known and most recommended trading bots.
GEKKO is a free Bitcoin trading bot. It’s a good choice for those who are new to the crypto-currency markets. It allows users to execute basic crypto-currency trading strategies. The bot uses live price data, calculates indicators, executes live orders, and can simulate live markets using historical price data for the backtesting of trading strategies.
CRYPTOHOPPER is a cloud-based (24/7) crypto-currency bot which means the bot can continue trading even if the user's computer is turned off. It allows inexperienced traders to let their bot trade on autopilot, executing trades as recommended by trusted 3rd parties.
The first month's trading is free, with subscription packages from $19 to $90 per month after that.
HAASBOT is one of the most popular crypto trading bots currently. It allows users to combine several trading signals to develop complex crypto trading strategies. Haasbot is supported by major Bitcoin exchanges. A 3-month subscription fee is between 0.035 BTC and 0.084 BTC and it is recommended for more advanced traders.
The GUNBOT trading bot offers a wide range of settings designed for both beginner and advanced traders. It can be used across a range of major exchanges. The subscription fee is between 0.026 to 0.16 BTC depending on the selected functionality set.
ZENBOT is another crypto-currency trading bot that can be downloaded for free. Zenbot supports several digital coins. It offers a real-time strategy testing option. But interestingly, Zenbot's developer warns users not to use it with high volumes of trading capital because some users have reported losses in live trading, although their strategy testing produced gains.
With CRYPTOTRADER, traders can develop their own crypto-currency trading bots. In addition to that, CryptoTrader also functions as a marketplace where users can sell their own trading strategies and buy other user’s strategies.
The prices for subscriptions to CryptoTrader ranges from 0.0013 BTC to 0.016 BTC per month.
We would like to repeat what we underlined in our first article: Many people think that trading bots are a kind of passive income generators but it’s very important to know that they are just tools to assist you as you learn and your knowledge grows with the crypto market. It doesn’t mean you cannot generate trading income using crypto trading bots. But it’s not possible without the right strategy and regular adjustment of your bot’s settings.
And it’s worth keeping in mind that although the crypto space offers the possibility to get to higher profits more quickly, the more volatile the market, the higher the risks that you take. And it’s true whether you use trading bots or go with the good old “manual” trading.