Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
4 Trading Bots Platforms to Automate Your Crypto Trading in 2023
Crypto trading bots enable investors to automate buying and selling based on advanced technical indicators. These innovative tools compete to provide the highest percentage of profitable trades even during bear markets when trading winnings are at a minimum. Therefore, it’s no surprise they have become the favorite cryptocurrency trading solutions for beginner and expert traders.
As a new trader, you can use trading bots to emulate the successful strategies of more experienced traders. Alternatively, if you possess the know-how in crypto trading, you can use these platforms to share your strategy and earn a share of your followers’ gains.
Choosing the best crypto trading bot in 2023 is tricky. That’s why we compiled a guide for traders to help you learn more about automated crypto trading and choose the right crypto trading bot.
UpBots
UpBots is a digital asset management platform aiming to make crypto trading accessible to everyone, regardless of skill or experience. To this end, it proposes an innovative solution where third parties create specific trading algorithms, or Algo’s. Then, new and expert traders can use them to customize and broaden their trading strategies. Above all, traders pay fees only when making a profit.
The trading Algo’s interact with centralized exchanges to identify the most profitable entry and exit signals depending on current market conditions. They then connect the traders’ bots and do all the work for the trader, creating a stable passive income stream from crypto trading.
The UpBots team does not develop or own any Algo’s on its platform. Instead, it incentivizes third parties to create and share these trading algorithms with users. Furthermore, it provides the necessary bots for executing trading commands.
UpBots allows anyone to create Algo bots in the platform’s UI. The creators gain plenty of benefits for their work, including a percentage of the profits of everyone using their services, but only on profitable trades.
The platform provides crucial Algo statistics, including profit/loss, monthly average trades, etc., allowing traders to choose the one that best suits their strategies. Furthermore, it periodically performs quality control checks to ensure Algo’s security and performance.
The platform’s proprietary token, UBXT, supports a win-win environment for all participants. For instance, users must have a UBXT balance in their UBXT wallets to use Algo bot trading or social copy trading.
UpBots provides safe and efficient access to crypto trading for everyone, including novice and seasoned traders. The project also expands its ecosystem to include Forex and commodities trading, available manually and algorithmically. Other services include capital staking and educational series.
SuperBots
SuperBots helps users automate their crypto trading through the help of secure and efficient trading vaults. Traders only need to choose a vault that suits their strategy and pour capital into it for automatic trades. In addition, the platform charges fees on deposits and withdrawals rather than performance and transactions.
Traders do not require previous experience or advanced skills in crypto trading to use SuperBots. Moreover, they can use the platform without creating an account and only by connecting with their MetaMask wallets. All trades are entirely blockchain-based and secured by Solidproof and Immunefi. Also, SuperBots uses 1inch for trading to reduce slippage on trades.
The main benefits of using SuperBots come from its vaults, which operate 24/7 and allow users to make trades according to their schedules. Traders can lock their capital in a pool and allow trading algorithms to work for them. All the investors share the pool into which they pour capital. Moreover, they receive xUBXT tokens in exchange for their funds.
Similar to UpBots, all trading algorithms come from third parties. Therefore, SuperBots do not own or control their results and performances. Users should pick the vault that best suits their strategies since every vault uses a different algorithm.
The SuperBots vaults charge a 15% performance fee on successful trades that overcome your previous capital ATH and redistribute it to the staking pool and the algorithm’s developer. A fraction of these funds goes to SuperBots. However, the system will not charge fees on unprofitable trades. Capital providers have 100% ownership over their crypto and can withdraw their funds whenever possible.
Lastly, SuperBots provides a tool for simplifying trading, the Super-Vault. This feature automatically divides a user’s capital equally between the five best-performing bots. Next, it rebalances them each month depending on the bots’ evaluation.
Cryptohopper
Cryptohopper stands out from other automated trading bots by hosting all its services on the cloud. Contrary to other providers, this platform has no downtime, thus reducing the risk of missed profits. Moreover, the bots are active 24/7 and 365 days a year, even when their traders are offline or away.
The platform uses an algorithmic-programmed trading mechanism enabling traders to strategize their trades through external links. For example, users can connect their portfolios across popular exchanges, such as Coinbase, OKEX, KuCoin, Binance, Kraken, Huobi, etc. This way, they can leverage free paid signals from multiple sources simultaneously.
The company behind Cryptohopper operates from Amsterdam, Netherlands, and uses over 30 trading indicators and more than 90 candle patterns. This platform allows users to trade several popular assets, including Bitcoin, Ethereum, Solana, and 100+ other cryptocurrencies. Other important features include bot backtesting tools, configurable templates, trailing stops, and customizable technical indicators.
Cryptohopper is available on mobile devices, both iOS and Android, and you can use it web-based directly in your browser. However, this doesn’t deter new or expert traders, especially since users can join without providing credit card information. Instead, they only need to create a basic account and start trading immediately.
Lastly, Cryptohopper works closely with expert investors and professionals in the field. As a result, the platform integrates its strategies and market sentiments to provide better trading tips. This way, users can customize and refine their strategy using professional expertise. Moreover, the platform offers comprehensive resources, educational materials, and blog posts to help beginner traders learn more about this practice.
3commas
The last entry on our list of automated crypto trading solutions in 2023 is 3commas. This platform enables users to build automated trading bots and use them on 18 leading crypto exchanges. Moreover, it has a wide and versatile offer of bots traders can use right away, such as DCA, Grid, Options, and HODL bots.
3commas claims its bots help traders win regardless of market conditions. To this end, they can handle long and short positions, options, and futures by employing the strategies traders dictate. As a result, the platform gives more power to users over their portfolios in an increasingly competitive market.
Furthermore, 3Commas provides portfolio management and trade orchestration options for beginner and advanced traders. Anyone, regardless of experience, gets the tools to improve their strategies and get more from automated transactions. Users can set various order types: limit, trailing, market, take profit, stop loss, and others.
Another standout feature is the platform’s marketplace providing templates and signals with a transparent track record of performance. This tool also contains signals from expert third parties that novice users can obtain by integrating TradingView with their current strategies. Moreover, it helps them tweak their strategy for better results.
Lastly, 3commas is available for mobile users and works seamlessly on iOS and Android-running devices. This way, users can manage their accounts on the go and across numerous platforms, including Binance, FTX, BitMEX, Coinbase Pro, and more.
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