Most people aren’t expert traders, and that’s okay. You don’t want to put your money on the line based on a hunch, and you don’t have the time or expertise to trade manually. Automated trading systems might be useful in this regard.
Algorithmic trading, sometimes called “black-box” trading or “bots,” is one method for engaging in automated trading platforms. It’s easy to use; all you have to do is sign up for an account and instruct the software to do what you want. After that, the software will handle everything automatically. You’ve found the proper location to test out some automated trading software. The finest automated crypto trading software for 2022 is discussed in this post.
5 Best-Automated Crypto Trading Software To Use
It is a great platform for analysing cryptocurrencies that gives traders in-depth market data. With the help of fastprofit fastprofit, crypto traders can come up with market-beating strategies and find profitable investment opportunities.
This analytics tool helps users come up with great trading strategies. It does this by giving its users a number of indicators and analytical tools. The software also lets users test their trading strategies in real-time market conditions. This lets them figure out if their strategy would be profitable or not.
If traders don’t like coming up with their own strategies, they can use the crypto trading signals from this tool. This will include important information like entry prices, take-profit/stop-loss levels, and the type of trading order to use.
Pionex is one of the most reliable free bitcoin trading bots at the moment. It comes with not one but sixteen built-in trading bots that you can use for free. Dollar-cost-averaging, arbitrage trading, and grid trading are just a few of the automated trading strategies that Pionex makes available to its clients.
In its platform as a decentralised exchange for cryptocurrencies, Pionex facilitates trading in hundreds of different cryptocurrency pairings. Pionex’s ability to facilitate leveraged trading is another another plus. For extra platform benefits, users may spend credit card funds on cryptocurrencies and digital wager tokens. In addition, this cryptocurrency trading bot may be accessed through a smartphone app, giving investors more portability and visibility into their portfolios. Pionex’s bitcoin bots may be used at no cost.
Coinrule was developed to facilitate the trading of bitcoins for investors. This trading bot enables users to create strategies using if-then logic. It is one of the most user-friendly bots for crypto trading. It gives tutorials for constructing an AI-powered crypto trading bot. APIs allow consumers to link their Coinrule accounts to their favourite cryptocurrency exchanges.
In addition, Coinrule incorporates technical indicators like as moving averages and the relative strength index (RSI), which may assist investors in formulating strategies. Moreover, the platform enables users to test their bot rules prior to deployment. Coinrule provides both free and premium pricing options.
Shrimpy is a one-stop shop for all services related to bitcoin investments. It lets users connect to many cryptocurrency exchanges in one place, making it easier to manage a single portfolio of cryptocurrency. Customers of Shrimpy will also be able to track how their investments are doing and keep an eye on the market from a single portal.
This platform also has cryptocurrency robot trading, which lets users set up an easy way to rebalance their portfolios. In this way, Shrimpy helps investors reduce portfolio risk caused by changes in the market. Investors can also use the backtesting feature to try out their trading strategies before putting money at risk.
The cryptocurrency trading bots provided by 3Commas are compatible with more than 18 different markets. Users have the option of trading cryptocurrencies manually or by setting up a cryptocurrency trading bot. When trading cryptocurrencies on 3Commas, users may use automated trading strategies on many pairs at once. In addition, 3Commas’ trading bots may utilise RSI and ULT indicators from TradingView to place trades. The website also offers bots that may mimic the trading strategies of human traders. Only seasoned crypto traders who are familiar with bot trading should use 3Commas. In addition, there is a demo version available at no cost to ensure the tool is suitable for your purposes.
How To Use Automated Cryptocurrency Trading Platforms
1. Conduct Proper Research
It is important to learn as much as possible about automated crypto trading platforms before using one. This necessitates familiarity with the costs and risks associated with using the platform.
2. Create A Test Account
One of the best ways to learn about the platforms and functionality of a platform is to use the demo account that is often provided. It is also wise to test with the platform’s automated trading features using fake funds before trusting them with your own money.
3. Create An Account
After you’ve done your research and are confident in your ability to trade, you may create up for an account. Typically, this entails providing identification details and funding the account with money or cryptocurrency.
4. Commence Trading
As soon as your account is set up and funded, trading may commence. Most platforms let you set up automated trading strategies, which might come in handy if you are not always available to trade manually.
5. Monitor Your Account Activity
It is crucial to keep an eye on your account and trades on a regular basis, particularly if you use automated trading tools. This will allow you to see issues and correct them as needed.