The Binance trading bot is one of the largest cryptocurrency exchanges by volume, and automating your trading on Binance can take a long time. Additionally, this article will cover the top trading robots on Binance and how to utilize them.
What are cryptocurrency trading robots?
Cryptocurrency trading robots are simple computer codes programmed to help automate your trading strategy. You can create your trading robot primarily by programming your trading strategy. However, several platforms offer this service for a paid subscription. So if you’re not into programming and want to automate your trading strategy, read on.
How does the trading robot work?
Professional coders and market experts team up to create trading robots by coding a trading strategy. Moreover, these robots automatically open and close positions on your behalf if they find a market opportunity. Trading robots are devoid of human emotions. In other words, it simply follows a pre-planned strategy.
What is Binance?
Binance is the largest trading platform in the world by volume. Therefore, Binance offers almost all the services you might be looking for in a cryptocurrency exchange, for example, Binance margin trading, staking, lending, launch platform, crypto lending -currency, etc.
Binance trading bot: Binance
Advantages and disadvantages of using trading robots
Let’s examine some of the benefits of using trading bots:
- Automation: Trading robots allow you to automate your trading strategy. So, if your strategy is right, bots will help you earn money 24/7.
- Analyze and optimize: trading robots provide a lot of information on the performance of your strategy. You can analyze this information to refine your strategy.
- Execution: A trading robot can execute trades much more efficiently than a human. This gives you the extra benefit of avoiding latency and thrills.
- Let’s also take a look at some of the disadvantages of bot trading:
- Beginners should avoid: In addition to grid trading and probably copy trading, beginners should avoid custom coding trading strategies. If you just signed up on Binance and want to get a Binance trading bot, you are probably looking to get into debt.
- Monitoring: The cryptocurrency market is very volatile. Therefore, you need to constantly monitor your bots. Sometimes it can give you sleepless nights.
- Security: Crypto robots have access to your trading account. Therefore, when creating exchange API keys for integration with exchanges, make sure to provide only the necessary permissions and historical profile of the trading bot.
The Best Binance Trading Bots
You can be the best trader; however, no one can watch the market while sleeping. And since cryptocurrencies are so volatile, it would be unwise to sleep on their leverage positions. This is where cryptocurrency trading robots come in; they automatically make a profit if the market follows their strategy. It also reduces your losses if it goes against your strategy.
Below are the best cryptocurrency trading bots for Binance that you might be interested in.
Pionex – FREE Bitcoin Cryptocurrency Trading Robot
You don’t have to worry about API keys when using Pionex. So far, there are 16 free cryptocurrency bots on Pionex: Pionex Margin Grid Bot, Pionex Infinity Grid Bot, Pionex Grid Trading Bot, Pionex Leveraged Grid Bot, Reverse Grid Bot, Leveraged Reverse Grid Bot, Dollar-Cost Average Bot, TWAP Bot, Trailing Take Profit Bot, BTC Moon, ETH Moon, and Spot-Futures Arbitrage Bot.
Pionex is an integrated cryptocurrency trading exchange. This is one of the best free cryptocurrency trading bot platforms.
The Pionex Exchange recently launched its Spot-Futures crypto-arbitrage robot and thus offered an alternative to traditional crypto-arbitrage robots. Additionally, the Pionex trading bot is easy to use.
Therefore, I prefer to trade bitcoins with this trading robot. In my opinion, Bitcoin has a higher market capitalization and is the center of all cryptocurrencies.
Pionex is secure and has received MAS and MBS licenses from Singapore. Pionex from the United States is the first cryptocurrency bot on my list and the best free bot available.
Bitsgap – Grid Trading Bot for Binance
The Bitsgap bot is best known for its unique auto trading bot. Thousands of cryptocurrency traders with different experiences and skills use Bitsgap every day to maximize profits by automating their trades.
The algorithm implemented by the Bitsgap trading robot is based on a simple and effective technique called GRID. Distribute the investment proportionally over a trading range predefined by a cryptocurrency trader. Moreover, the Bitsgap connection process is quite simple and can be completed in a few minutes.
Each time the buy order is executed, the bot places a new sell order just above this price. Conversely, a new purchase order is placed under any executed purchase order. The bot will trade uninterrupted as long as the price stays within the trading range.
Additionally, Bitsgap recently launched its Bitsgap Futures trading robot, which opens and closes hundreds of small positions in a day. Thus, having lower returns and minimizing risk. You can download the Bitsgap app and enjoy an easy-to-use cryptocurrency trading experience.
The Bitsgap algorithm is designed to maximize profits from low buys and high sells whenever the price fluctuates. Automated robots have comprehensive risk control features such as Stop-loss, Trailing UP, Take Profit, and various exit strategies. Moreover, the Bitsgap trading terminal offers first-class tools.
- 14-day free trial
- A cloud-based solution, so you don’t have to download anything
- Free encryption signals for subscribers
- Proven strategies for a quick start by mouth
- Risk-free robot trading simulator in DEMO mode
- Trading bots are based on transparent and efficient logic
Cryptohopper: trading bot for Kucoin and Binance
Cryptohopper is a paid trading bot for bitcoin and other cryptocurrencies. But before joining the paid subscription, you have a 7-day free trial period on Cryptohopper.
One of the most popular trading bots on Cryptohopper is the build bot marketplace. It is similar to Pionex’s Grid Bot but is more focused on distributed order book gains. The CryptoHopper telegram bot will help you automate your cryptocurrency trading signals.
The CryptoHopper bot also provides a marketplace where you can secure all third-party services, such as crypto signals, trading strategies, apps, and models. Additionally, the bot offers a demo trading account, strategy builder, social trading platform, paper trading mode, and market arbitrage tool.
Coinrule is a next-level bot for beginners. The “if-this-then-that” rule allows even less advanced cryptocurrency traders to build their cryptocurrency trading strategy in a minute. The intuitive interface guides users through creating the trading bot step by step.
The template library includes more than 150 predefined rules that help beginners run the trading system according to their needs. The platform allows various cryptocurrency trading strategies such as stop loss, take profit, and incorporating key technical indicators. The list of trading strategies allowed by Coinrule is endless, and the company regularly releases new ideas based on knowledge of the platform.
Another cool feature is the built-in demo sharing. Cryptocurrency traders can try out their trading systems in a secure environment with virtual currency allocation. The demo rules are based on prices that come directly from Binance, so there is no risk. Hence, the platform is perfect for building your Coinbase bot.
3Commas – Provides Crypto Bots and Crypto Signals
3Commas is one of the most known cryptocurrency trading robots. The user interface is more for a professional trader. As its users become more professional, they transform their product development into professional users.
So if you are already a professional bot marketer, give 3Commas a try.
- 3Commas has two membership levels: Basic and Pro. The entry-level bot is priced at $25 per month, while the second one costs $84 per month and has many other features.
- The 3Commas cryptocurrency robot can implement various bitcoin trading strategies based on technical indicators and enable bitcoin trading for profit.
- The 3Commas community is good, and you can buy a few online courses to use the 3Commas bitcoin trading bot.
- Additionally, the platform also provides a marketplace for third-party crypto signals.
Mudrex makes investing in cryptocurrencies as easy as investing in a mutual fund. They are very open with their information; they have a wide range of bitcoin robots based on risk appetite and a pricing model that is by far the best I have seen. The Y Combinator-supported Mudrex outperforms all others on the list!
Mudrex has over 7,000 users and over $400 million traded. They are backed by renowned venture capitalists and angel investors and have a very active and involved community. These are linked to 8 major exchanges and are among the few on this list that can support US customers.
Mudrex does not make its own cryptocurrency bot, but it does have its own marketplace of automated bots created by professional cryptocurrency traders. The best part of the platform is that all information about the performance of a cryptocurrency robot is public and easy for users to understand. Plus, with the Mudrex Protect feature, you can get your money back if the investment isn’t profitable.
If you are looking for a platform to invest in your cryptocurrencies, Mudrex could be the solution!
The best part of the Quadency trading bot is the backtesting feature, which allows you to test your strategies against dates and numbers rather than testing in the dark. This is also the most important feature of a crypto robot; it is always good to know the historical data performance before putting your money into a cryptocurrency trading bot. Moreover, the platform offers a variety of features and is touted as one of the best Bittrex robots.
Napbot: automatic cryptocurrency trading
The NapBots trading bot tries to democratize quantitative trading by giving you direct access to professional trading strategies with plug-and-play algorithmic cryptocurrencies, so its users don’t have to worry about having any kind of ability to use this platform.
Depending on the trading frequency (weekly, daily, and hourly), users can choose from a variety of built-in cryptocurrency trading strategies to automate their operations and allocate funds. Many NapBots clients choose to branch out into multiple strategies to reduce risk, while others prefer to stick with a single crypto strategy. Easy to use, NapBots is addictive. Invest and enjoy!
NapBots Cryptocurrency Trading Bot lets you trade cryptocurrency like a pro and gives you instant access to professional cryptocurrency trading strategies in 3 easy steps:
1. Connect your cryptocurrency exchange.
2. Select your preferred crypto preference.
3. Sit back and let the bot do the heavy lifting.
NapBots is part of the Napoleon Group, a French group of companies founded by former billionaire wealth managers at tier 1 banks who have designed, built, and operated high-performance trading robots for the past decade.
TradeSanta – Automated Cryptocurrency Trading Software
The TradeSanta trading bot operates on eight major exchanges, Binance, Bittrex, HitBTC, Bitfinex, to help you trade cryptocurrencies simultaneously.
Depending on the plan, you will have to shell out between $14 and $70 per month.
One of the features of the TradeSanta cryptocurrency trading bot is the Grid bot. Pionex and BitUniverse have already offered the same feature for free, so if you’re here for the grid bot, there is no need to buy the package. But if you are here for other features, then you can give it a try.
HaasOnline: More Advanced Trading Software
HaasOnline is a one-of-a-kind paid cryptocurrency trading software. Like the other trading robots mentioned, they offer standard trading robots for strategies like arbitrage, market making, and other tools.
However, with the release of HaasScript, their official scripting language, you can develop extremely complex trading robots using a drag-and-drop designer or an intelli-sense editor. Therefore, it offers one of the best auto trading software. You also have the opportunity to test or trade strategies before making live trades on over 25 exchanges.
Binance Trading Robot: Conclusion
In conclusion, almost all of the Binance trading robot providers in this article are famous for one thing or another. First of all, Bitsgap has a dedicated Bitsgap Binance futures trading bot, which opens and closes hundreds of positions every day. Second, CryptoHero offers AI-powered robots that use predefined conditions to enter and exit markets.
Third, Quadency offers various trading bots, such as Grid Trading Bot, Market Making Bot, TradingView Bot, etc. The main attraction of CryptoHopper is MarketPlace, which offers various trading strategies, crypto signals, and more. Technically advanced cryptocurrency trading bot. With the launch of HaasOnlince Cloud Management, it aims to be easy to use for beginners.
Nnamdi Adibe is a native English writer and can write about many things. With his writing skills, he can provide well-researched content.
Nnamdi Adibe is a prolific writer at gblogo.com. He is interested in bringing you perspectives on financial liberation, fun, and investment from the rare vantage point of experience.
He provides insights on fintech, crypto and digital assets, and sustainable finance and investments and promotes a transparent, secure, and quality digital financial future for everyone.
Determination, honesty, and responsibility are important values of Nnamdi that he tries to maintain at all times.