3 Crypto Trading Bots that are Free

Crypto trading bots are software that have the ability to almost automate your trading by taking in a few fixed parameters as a set of instructions.

It does not mean that you only provide it data for a single situation. You have to provide the necessary data to make it perform in several situations.

The main aim to use a crypto trading bot is to make passive income for yourself even when you sleep.

Looking at the volatility of the cryptocurrencies, these bots can be given a set of instructions to trade accordingly. The advantage you get here is that these can trade with almost 0 delays. Let me ask you who doesn’t like fast trades?

In fact, these bots can easily do a lot of orders in a very short span of time. Often when we trade, humans tend to have emotional triggers as well.

This is not the case with a bot. You can remove this emotional barrier and thus reduce the margin of error to the least possible.

This does not mean that they come with no disadvantages. Setting and managing a crypto bot is not as easy as it sounds.

When a human is involved in things, you can bring a lot of surprises in trading with cryptocurrencies owing to the volatile market.

And since these bots are not designed to learn on human behavior these can turn out to be costly if not metered and managed properly at regular intervals.

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With that let’s have a look at our list of 3 crypto trading bots that are free.

3 Best Free Crypto Trading Bots:

1. Zenbot Trader –

ZENBOT CRYPTO TRADING BOT

Zenbot is one of the free services that you can download from the Zenbot platform. It can be downloaded via their website, GitHub and also have many other mirrors.

In Fact, if you have been into programming, you can download their source code and modify it to tame your own needs, which is very cool.

It has been one of the first platforms to have support for multiple digital assets and this is possibly one of the best things, especially when you are starting out as a beginner.

You also get support to a lot of trading assets in time and also support for maintaining exchangeable bitcoin services all around the world.

Zenbot traders run on the command line and that is sometimes not liked. However, Zenbot can be run on your desktop or can be hosted on the cloud as well, making it very popular.

To make sure that your trades never go offline, you can use cloud servers such as vultr to enjoy the passive earning experience. However,

it is recommended that you use it locally for faster backtesting results.

The bot has pre-defined over 12 different strategies that can be easily configured. These predefined configurations can help you to start trading in no time.

Also, if you have your hands dirty with JS, you can also develop your own strategies using Zenbot.

In fact, their repositories provide you with all the code on how their strategies are built along with suitable examples to get you started on the technical analysis parameters and using them.

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How to Install and Configure Zenbot?

Pros:

  • Zenbot is very fast and is frequently updated.
  • Over 12 exchanges are supported.
  • The Zenbot community is very active.
  • Access to Paper/Live Trading Modes.
  • You can get notifications for trade through SMS, Discord, and other platforms.
  • Unlink Gekko the backtesting results are detailed here.

Cons:

  • There are command lines-based interface and no graphical user interface which can be tough to understand at times
  • Due to the extra details, backtesting is slow at times.

Visit Website

2. 3Commas Crypto Trading Bot (FREEMIUM) –

3COMMAS FREEMIUM BOT

 

3Commas is one of the newer platforms compared to others but it is one of the most reliable ones available.

It has a feature that lets you show your latest results directly on their website’s homepage which helps in reflecting the success rate.

Although this bot is not entirely free, you get a free trial available and that’s sufficient to perform tests and see how the BTC trade bot work.

3Commas bots can easily work in market places such as YOBIT, OKEX, CEX.io, KuCoin, Poloniex, Bitfines, Binance, HitBC, BitStamp, etc.

Being a trader, you get a lot of functions to choose from. Some of these functions are stop loss, take profit, etc.

You also get the facility of long and short order bots that have trailing features and QFL method APIs.

You also get to use composite bots on the 3Commas trading platform.

Pros:

  • Over 12 market places.
  • Readily available results on the homepage.
  • A lot of functions to get the best possible trades.

Cons:

  • Not entirely free, only a trial available.

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4. Enigma Catalyst –

ENIGMA CRYPTO TRADING BOT

Enigma is an advanced level algorithm trading platform for technical analysts It is built on top of the Zipline project.

It needs a lot of experience in languages such as python as you get to backtest and perform live trade using its strategies in various crypto exchanges.

It is currently in a lot of testing and development and has one of the best ML and statistical libraries.

It currently has live trade support for platforms such as Bittrex, Poloniex but the developers are regularly working to bring more integration to their platform.

Overall, it is a perfect match for developers and advanced trade strategists who are looking for a powerful and budding platform.

Pros:

  • Detailed Documentation for Developers.
  • Good Support and Active Community.
  • ML and Statistical Libraries for various strategies.

Cons:

  • Although the general support is good, the live trading support is somewhat limited.
  • Installing it can take a good amount of time.
  • Only for experts.

Visit Website

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In the End:

Trading bots help as a very good tool especially in helping you monitor and execute strategies on certain predetermined areas.

But you should not think of them as the key to being profitable all the time. Instead, you should monitor these trading bots every now and then to get successful results.

On top of it, these bots need constant support and updates as the market platforms release changes in their platform and movements.

If you are a beginner you can start with paper trading mode and once you develop sufficient skills you can switch to live trading modes.

It takes a lot of education and testing to get the complete knowledge and understanding of these trading signals to get satisfying results.

This wraps our article on the best crypto trading bots that are free. If you have any doubts feel free to comment on them below.

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About The Author: Shounak

Blogger, Writer, Cryptocurrency Trader and Tech Geek.