Choosing the Best Crypto Trading Bot for Binance
Both manual and automated crypto trading are extremely popular nowadays. Suffice to say that a popular crypto trading platform called Binance has as many as 90 million registered users! And there are lots of others…
While some users prefer placing orders manually, many traders make use of crypto trading software, often commonly called bots. These applications come in a wide variety; they enable you buy and sell a variety of cryptocurrencies at the precise moment. If configured properly, programs of this kind may increase your revenue and reduce unavoidable risks.
Why Choose Binance
These days information spreads quickly. That’s why, good exchanges are extremely likely to quickly become widely-known and gain solid reputation. Binance is said to be among the best free crypto trading platforms, where you can buy or sell more than six hundred of different cryptocurrencies.
Besides, its transaction fees are below 0.1%, i.e., they are among the lowest on the market. However, when picking a cryptocurrency trading bot for this platform, you had better make sure the software is compatible with it.
Automate Your Crypto Transactions
If you are in search of the best crypto trading bot, it may be a tricky task. There is no such thing as a one-fits-all solution. Your choice will depend on a number of factors.
A seasoned professional or a novice who is just going to try automated trading have different requirements, so they will call quite different software ‘the best’. A greenhorn will appreciate intuitive interface, lots of ready-to-use options and clear instructions, tips, and tutorials in plain English. An expert is likely to seek flexibility, customizability, as well as an opportunity to apply custom strategies; besides, experienced users tend to combine manual and automated trading.
Just a Few Great Binance Bots
Let’s pick just a few of the bots out of the numerous ones supporting Binance, and take a brief look at them.
The first one that comes to mind is Pionex. It offers sixteen completely free bots, which are compatible with Binance, Huobi Global, and Pionex exchange. Here you’ll find bots for Arbitrage, Martingale, Grid Trading, Spot-Futures Arbitrage, DCA, Rebalancing, etc. However, custom strategies are not supported.
Beginners will be glad that Pionex requires no minimum deposit, so that they jet the chance to try it with a small sum.
Handy mobile apps for iOS and Android are available.
Cryptohopper also offers mobile applications both operating systems. Along with Binance, Cryptohopper bots could be run at the following exchanges: Bitfinex, Bitpanda Pro, Bittrex, Bitvavo, Coinbase Pro, HitBTC, Huobi, Kraken, KuCoin, Okex, and Poloniex.
Besides, this bot enables you to backtest any strategy before it is implemented, to determine the level of financial risk before you face it.
As to Trality, it satisfies both beginners and experts. The former enjoy the user-friendly drag-and-drop graphical interface, while the latter gladly create their own bots using the Rule Builder; those who know Python, can make the most of the in-browser Code Editor.
The mobile applications are announced to be made available in the nearest future.
The exchanges supported are: Binance, Kraken, Coinbase Pro, and FTX
Easy-to-use interface of WunderTrading – the cloud-based platform, focused mostly on automated and copy trading, made it popular with all users, from newbies to professionals.
Using TradingView, you are able to create and customize a fully automated bot in a few mouse clicks.
With WunderTrading, you get an opportunity to manage your accounts at the following crypto exchanges: Binance, BitMEX, Bitpanda Pro, Bittrex, Bybit, Coinbase PRO, Deribit, FTX, FTX US, HitBTC, Huobi, KuCoin, Kraken, and OKX.
The only drawback is absence of a mobile application.