The first type of crypto trading bot is the technical bot that uses various indicators and signals to predict and help you capitalize on the next cryptocurrency market movement. The most popular technical bot is 3commas.

Users can access this cloud-based platform on their computers or smartphones without having to download it. On 3Commas, you can customize the algorithmic trading bots based on your trading strategy – use the long bot for bull markets, the short one for bear markets, or a composite one as a mix of the two.

One of their most attractive features is the Social Copy Trading feature. Aimed primarily at beginners, copy trading gives you insight into the trading strategies of other users, lets you monitor and copy them, and later on extend them to fit your own portfolio.

Moreover, 3Commas is popular for its smart trade feature called Trailing Stop Tool that keeps your position open even if you reach the desired target gain so that you can make a profit if there’s a sudden price increase. If the price starts falling, the trailing stop automatically closes your position.

With their take profit and stop-loss orders, you can simultaneously set the selling price point for when you want to make a profit and when you want to stop losses.

Cryptohopper is another cloud-based crypto trading bot that’s used by thousands of traders around the globe.

The platform is suitable for both beginners and seasoned traders. It has a range of advanced trading features such as Backtesting, Trailing Stop-Loss, Stop-Buy, Stop-Short, and Dollar Cost Averaging. It features its own Tutorial Section with extensive educational materials, video courses, and a learning academy to help new users make the most out of crypto trading.

They can customize their own trading strategy with Cryptohopper’s Strategy Designer that allows traders to choose out of its list of 30 technical indicators and 90 candlestick patterns. If you want to try their services but don’t want to risk losing your funds from the start, you can try the simulated paper-trading feature.

Moreover, Cryptohopper was the first platform to automatize the process of receiving crypto signals, i.e. technical analysts who closely follow the market to spot promising crypto assets and earn money by sharing their predictions with subscribed traders.

Now, when technical analysts or “signalers” working for Cryptohopper send out trade signals, the Hopper bot picks them up and executes a buying/selling order (provided you subscribe to one/some of them first). As a result, traders can spend less time on the Trading Terminal

Gunbot (also known as Gunthy) boasts of over 6000 active traders. It’s compatible with MAC, Linux, and the Windows platforms and so running it on your computer shouldn’t be an issue.

Gunbot places a huge priority on your privacy – it isn’t a cloud service. Instead, you install software, which collects no data about your usage. Gunbot is currently supported on Windows, Mac, Linux, and ARM.

The software’s latest version does not demand high resources – you can run it on an old laptop or even on a Raspberry Pi. Payments are accepted through Bitcoin, Litecoin, Ethereum, and Dash. Gunbot works on 100+ supported exchanges.

Shrimpy was founded in 2018 by Matthew Wesly and Michael McCarty whose vision was to create a platform that would encourage more people to join the crypto market by allowing them to make crypto trades easily and effectively.

Shrimpy became famous for its automated trading tools and interface and the immediate support it got for leading crypto exchanges. However, what really sets this platform apart is the Portfolio Auto-Rebalancing Tool. Although this tool is frequently used in the stock market, Shrimpy was the first to introduce it to the crypto market.

Instead, they can realign and specify the weightings of each crypto asset’s value from their portfolio. The Shrimpy trading bot would periodically buy or sell these assets to maintain the desired asset levels, i.e. automatically rebalance them. This is a great strategy to capitalize on sudden crypto rallies. Thanks to the effectiveness of this tool, users no longer have to rely on the buy and hold strategy.

Shrimpy has two main portfolio rebalancing types: time (periodic) and threshold rebalancing. If you choose the first one, Shrimpy will rebalance your portfolio daily, weekly, or monthly depending on your preference to achieve your desired crypto weightings. Threshold rebalancing means that when one of your cryptos deviates from the desired percentage by a predetermined amount (e.g. 10%), Shrimpy will get you back on track and rebalance your portfolio.

To explore the potential of your strategy, you can use their Backtesting services. You can emulate the strategies of other traders with their Social services or simply observe them with Shrimpy’s Insights.

HaasOnline was launched in 2014 by Stephen de Haas. Unlike many other platforms that avoid revealing the identity of their founders, the HaasOnline team is known for its transparency and active social media presence.

Until 2020, users had to download and install the HaasOnline Trade Server (HTS) and set up an account. This was time-consuming and required some technical background on the part of the user which is why the platform launched its cloud version this year and simplified the whole signing up process.

HaasOnline belongs to the group of market-making bots. What these bots do is they place buy and sell orders in an attempt to score a quick and easy profit for you. For example, if your target crypto asset is trading for $100, the Haasbot will create a $90 buy order and a $110 sell order. In case one of the orders gets executed, you’ll earn $10.

Similarly to 3Commas and CryptoHopper, HaasOnline also offers copy trading and the option to subscribe to technical analysts’ signals. It has advanced Backtesting that makes it possible to go 56 weeks back to track the accuracy of some trading strategies.