What is a crypto trading bot? A Crypto trading bot is an automated software that buys and sells cryptocurrency based on pre-made rules. Nowadays, many providers offer free or paid trading bots for Bitcoin or other cryptocurrencies, and it can be overwhelming for a crypto trader to choose the right one.
If you are looking for the best crypto trading bot with a DCA strategy, consider what trading pair you will set up. A trading short and long strategy might be the best to choose volatile pairs such as Bitcoin, Cardano, Stellar, Binance Coin, ALGO, or Elrond. Dollar-cost averaging (DCA) is an investment strategy in which you invest in assets across periodic purchases. It is one of the best-known strategies how to build financial wealth over a long period.
Before you start paying for a service, you should do at least small research on the reviews. Search online and look for negative feedback from users.
Security should be your highest priority. You connect a crypto trading bot to your exchange via API. Make sure that you give access only for reading and creating spot or margin trades. It would be best if you don’t allow access to withdraw your money from the exchange. Beware scams!
Best Crypto Trading Bots
There are many options for novice and advanced traders, and it is hard to say which automated software is the best. It depends not only on your set up of chosen bot but also on the crypto market conditions. Nonetheless, if you are starting with crypto bots, TradeSanta may be the right fit for you. Read TradeSanta review to find out why the platform is popular among crypto investors. Advanced daily traders who want to automate their trades may try Cryptohooper, HaasBot, or 3Commas.