Enjoy instant trades at a speed of 0.01 seconds and a 99.4% claimed success rate

Powered by an algorithmic AI and the latest in machine learning technology, Bitcoin Code carries out trades on behalf of its users, constantly monitors market prices and identifies the best buying and selling opportunities

The Ultimate Guide to Crypto Trading Bots9-min read

Sayan Chakraborty

Sayan Chakraborty |  Updated on 18/1/2023

Financial markets are the unseen backbone of the modern economy with crypto being the disruptive answer to some of the worst excesses of the traditional banking establishment. The power of the internet has placed the vast majority of assets, and a full 100% of crypto, online and made them easily accessible by anyone with the knowledge and interest in financial freedom. This being said, a relatively new player is making its presence known within the field of retail investment and may have the power to change the face of finance forever. That player is Artificial Intelligence.

In this digital toolkit, we will be your guide in clearing up all of your doubts regarding crypto trading bots. This will include how to trade with crypto bots, how they fundamentally work, Bitcoin Bots, the future of the market and everything in between. Prepare to learn about how you can be a part in this revolutionary wave in retail investing and benefit from possibly the best strategy for passive income so far.

Best Bots for Crypto Trading for February 2023

There are currently plenty of options available for all crypto enthusiasts. Each of these bots comes with diverse features and functionalities so that you can choose and find the best suitable trading bots that fit your needs. Having said that, here are the top three crypto trading bots in India to start your automated trading journey:

Quantum AI Review

Quantum AI Review

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Pros

  • list bullet Users can automate their stock, forex and commodities trading
  • list bullet Features integrated Data Analysis and Risk Assessment tools in order to avert high-risk trades.
  • list bullet Easy to navigate with a wide array of trading preferences its users can automate.

Cons

  • list bullet As it is mostly known for forex and stock trading, Quantum AI is limited to only three cryptocurrencies - Bitcoin, Bitcoin Cash and Ethereum.
Bitcoin Code Review

Bitcoin Code Review

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Pros

  • list bullet Registration and verification on Bitcoin Code is relatively quicker.
  • list bullet It offers a fast execution speed of 0.01 seconds and a 99.4% claimed success rate.
  • list bullet Supports instant withdrawals with zero fees, no trading fees or commissions. Pay only on profit.

Cons

  • list bullet Trading bot does not offer a mobile application.
  • list bullet It requires a minimum deposit of $250 to start using its services.
Bitcoin Prime Review

Bitcoin Prime Review

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Pros

  • list bullet Higher success rate which translates into more potential profit across 14 different crypto markets.
  • list bullet User-friendly UI whilst also providing a demo version.
  • list bullet No hidden cost and a 24/5 support system combined with easy withdrawals.

Cons

  • list bullet Requires a minimum of $250 investment to start trading.
  • list bullet May present a difficult learning curve for newbies.
BitQT Review

BitQT Review

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Pros

  • list bullet Offers stock, commodity, CFD and crypto trading (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple and many more)
  • list bullet Renowned for its easy-to-use demo platform, allowing users to fully familiarise themselves with trading
  • list bullet BitQT offers up to 1000x leverage, allowing even beginners with small deposits to bet big on the market

Cons

  • list bullet Requires a minimum deposit of $250 or equivalent to activate your automated trading account
  • list bullet Analytics section could be improved to match the UI improvements of newer robot traders
Cryptosoft Review

Cryptosoft Review

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Pros

  • list bullet 24/7 Support team and complete transperancy with all trades carried out by the bot in
  • list bullet One of the few bots to carry out trades in LItecoin, Monero, Bitcoin Cash, Libra and EOS, maximising profits from altcoins
  • list bullet Trading across a wide array of crypto markets to generate incrementally greater returns over the long-term

Cons

  • list bullet Requires a minimum deposit of $250 or equivalent
  • list bullet Does not have a separate mobile app
Immediate Edge Review

Immediate Edge Review

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Pros

  • list bullet The platform offers a free demo account for its users.
  • list bullet Users can automated their trading preferences with just a few simple clicks.
  • list bullet Immediate Edge has a support team that is available 24/7 to serve its customers.

Cons

  • list bullet The only traded cryptocurrency on the platform is Bitcoin.
  • list bullet Only provides specific traders on the platform.
  • list bullet Does not have an app.
Oil Profit Review

Oil Profit Review

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Pros

  • list bullet The most profitable oil trading bot on the market and one of the easiest to use for those new to stock trading.
  • list bullet Features a great demo account that quickly teaches those new to trading everything they need to know about oil and stock investments.
  • list bullet Make profits in times of economic volatility and gain real-time updates on all market developments.

Cons

  • list bullet Oil is a commodity that many are turning away from, given the ongoing climate emergency.
  • list bullet A minimum deposit of $250 or equivalent is required to automate your oil trades.
Dogecoin Millionaire Review

Dogecoin Millionaire Review

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Pros

  • list bullet Its machine learning algorithm is regularly updated and constantly improves with each user interaction, as well as automated trade carried out
  • list bullet The most lucrative automated trading software for Dogecoin trades in the entire market
  • list bullet Features a dedicated 24/7 support team reachable via phone or integrated chat

Cons

  • list bullet The bot can only carry out Dogecoin trades and does not expand its capabilities for investing in other tokens
  • list bullet Due to high demand - being once the most profitable bot on the market - Dogecoin Millionaire limits the number of new customers it can onboard
Ethereum Code Review

Ethereum Code Review

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Pros

  • list bullet In addition to carrying out Ethereum trades, customers can also set up automated buy / sell rules for Shiba Inu (SHIB), Basic Attention Token (BAT), Tether, 0X (ZRX), Ripple (XRP) etc
  • list bullet Created by Wall Street insiders to empower retail investors with the tools needed to reach new levels of wealth
  • list bullet Entirely free to use with no hidden costs or post sign-up recurring charges

Cons

  • list bullet UI seems rather outdated in comparison with that of newer automated trading bots
  • list bullet Whilst still effective, trading preference options and customisable features could seem rather dated for current standards

How to Trade with Crypto Bots

No two crypto trading bots are the same. Fundamentally, crypto trading bots are customised and individually-curated according to the users’ specific trading preferences, regulations, risk capability and trade return expectations.

Traditionally, you may purchase access to crypto trading bots from fintech ventures specialising in automation or Machine Learning. Otherwise, if you find yourself having particularly deep pockets and money to spare, you can hire a developer who would build a crypto trading bot for you. Should you be interested in the latter option, you need to follow these steps to create your own crypto bot:

Step 1: Choose the programming language you are going to utilise
Step 2: List down the number of exchanges you desire your bot to function with
Step 3: Develop accounts on the significant listed exchanges
Step 4: Select the particular type of crypto trading bot you desire to make use of
Step 5: Regulate the architecture of the specific crypto trading bot (you are highly advised to consult professionals on this step)
Step 6: Coding
Step 7: Testing
Step 8: Deploy your bot.

That’s it! You now have your own crypto trading bot.

Regardless of how you get access to a crypto trading bot, the bot will work through the following four stages to calculate and execute orders.

Stage 1: Data is the lifeblood and main driver of Machine Learning algorithms. This is why data analysis is instrumentally important for the success of any crypto trading bot. Operating similarly to trained human market analysts, machine learning-powered software can effectively identify, analyse and gather piles of data in a faster, smarter and more objective way then its human counterparts.

Stage 2: Once the analysis of the data is efficiently finished, signal generation by a particular board essentially does the required work of the trader, properly identifying possible trades and making predictions in accordance with market data and technical analysis indicators.

Stage 3: Risk allocation is the particular step where the bot segregates the risk in accordance with the particular set of parameters and rules that are set by you as a trader. This basically includes how and to what limit capital is allocated when the trading is done.

Stage 4: Finally, execution is the stage where cryptocurrencies are actually purchased and sold in relation to the signals that are generated by the pre-configure trading system. In this significant stage, the signals will efficiently generate purchasing and selling orders which are adequately sent to the exchange through their API.

What Are Crypto Trading Bots and How Do They Work?

Crypto trading bots are, in essence, the bots that are used to automate trades in the cryptocurrency market. They are considered to be the programs that are most liable to yield significant results with respect to day-trading and even longer-term investing. Most crypto trading applications are optimised to provide straightforward functionality. You can authorise the bot to efficiently buy or sell an asset if/when it reaches a specific price or indicator. Your bot can then take care of executing and placing your preferred order, so you are not required to monitor the particular platform all the time to speculate when the specific price movements are effectively reached.

While the ecosystem does contain a significant amount of bad actors, a number of crypto trading bots have gained a well-earned reputation in providing investors with high returns at low risks. However, you should remember that the market is still young and very unstable compared to traditional financial investments. If you decide to take a complete hands-off approach when it comes to investing, your returns might not be comparable to someone who takes an active role in ensuring that their crypto trading bot is optimised to the specific market conditions they find themselves in.

Bitcoin Bots

The crypto trading bots that are particularly oriented towards maximizing profits from trading Bitcoin fall within the parameters of Bitcoin bot trading software. These have been specifically programmed for the distinct purpose of creating profit from Bitcoin trading, which is why this Machine Learning technology is applied to predict developments in the Bitcoin market in an accurate manner far surpassing the capabilities of even seasoned investors or entire investment firms. Most cryptocurrency trading applications focus on simple functionality. You can instruct the bot to effectively buy and sell an asset if and when it hits a particular price or indication point. You will not need to constantly check the specific platform to guess when the desired price movements will actually be accomplished because your bot will take care of executing your preferred order. As this market has not yet been regulated, we have a meticulous vetting system for all Bitcoin robots which we review.

The Future of Trading

With digitalisation becoming a more fundamental pillar of the global financial market with each passing day and crypto being especially digitally-native, the use of bots in online trading is only set to grow exponentially. This constant inflow of capital investment as well as having entire cohorts of the best software engineers finetuning services and products, the online trading market is expectedly to reach more than 12 billion dollars by the end of the year 2028 at a CAGR of 5.1% from the year 2021 to the year 2028. Hence, you can make a massive amount of profits by investing and even more so by choosing the right bot.

Market Disruptions

As an aftermath of these powerful algorithms reportedly conquering the Ethereum ecosystem, these bots are now wreaking havoc on younger blockchains. The bots are overrunning the networks of crypto like Solana as they hunt for profits. As the prices of crypto dipped in recent times, the liquidation bots worked down Solana, a favoured blockchain by many financial professionals, overloading it by sending 2 million and more transactions per second. As a result of this onslaught, Solana was down by 17 hours. Beyond just Solana, Avalanche, Polygon, and Binance Smart Chain are also seeing forays by these automations. All of this means that manual crypto trading is not a genuine option if you want to gain sustained profits from the crypto market.

crypto trading bots predicting market trends

Pros and Cons of Crypto Trading Bot Software

Pros

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    It is convenient and automated since you can efficiently set the parameters of trading all by yourself.

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    An investment made simple. While some traders like to invest their hours studying graphs and charts, users may benefit from the simplicity of the particular crypto trading bots.

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    Feasibility to set the parameters. You can easily specify when and how much you require the particular bot to trade.

Cons

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    You will need to efficiently know how and when this particular set of templates will be executed. Effectively, not knowing it can result in huge losses.

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    Requires monitoring. The trading bots are not a permanent solution of setting it and forgetting it towards cryptocurrency trading.

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    There is no promise of profit, even the crypto bots often cost capital, but they offer no guarantee of profitability.

Free Crypto Trading Bots

There are a number of free crypto trading bots that are popular worldwide: Cryptohoffer, Pionex, Bitsgap, Trinity and many more serve as just a sample of this. This being said, these are nothing more than training simulation software since you need to make actual deposits in real crypto bots to make money or generate any kind of income.

Generating Disposable Income with Crypto Trading Bots

Crypto trading bots are profitable and can generate disposable income for as long as you can effectively and appropriately configure them. The best crypto trading bots will definitely generate profit but it is crucial to test them or have some particular sort of assurance first before purchasing. It is also essential for you to learn how they operate, i.e. their automation process. Experts say, any average trader trading through crypto bots can easily make around 2-3% in profits on a normal day but once again these numbers can always vary depending upon the market properties.

How to Choose the Best Crypto Trading Bot?

Before getting started with any particular cryptocurrency trading bot you need to figure out which platform suits your necessities in the best possible way. There are a large number of options in the contemporary market and it is always good to play around with a free trial before investing in a proper trading board. This will give you an adequate idea on whether the trading software is right for you or not. As mentioned earlier you can try out the free best trading bots which are those listed above. Your preference might also depend on the device suitability of the crypto trading bots. The ones which are usable both on PCs as well as mobile devices are usually more popular than the single-platform focused ones. This being said, never blindly follow advice from entities you don’t trust. Do your own research. Surf the internet as much as you can till you become certain that a particular bot will fit your requirements.

Best Crypto Trading Bots for Beginners

From the above-mentioned best bots for crypto trading in India for February 2023, here are our best crypto trading bots that are absolutely safe to pick for the beginners

Crypto Code
Crypto Code provides a demo account for users to practise trading and learn about the platform’s usability. Once, you are comfortable, you may start live trading for real profits. A 24/7 customer care service is always available to ensure you are not left stuck or confused while using the platform.

Bitcoin Prime
The demo trading function of Bitcoin Prime allows novice traders to practise trading before investing and engaging in real-world investments. The demo trading account functions similarly to the actual account; the only difference is that it employs virtual money. The demo trading account includes a credit of up to €1,500 to allow users to practise bidding, selling, and transacting cryptocurrency the same way that they do in real-time trading.

Are Crypto Bots Safe?

The trading bots are considered to be legal in the cryptocurrency market though only a few selected brokers permit them. You can avoid scams by doing your own research while not engaging in turn-key solutions. This being said, we advise that you look out for previous records of trade and gather review from any trusted sources who has knowledge or has had personal experience pertaining to crypto bots.

Are Crypto Bots Legal?

The market is still unregulated and this is why you need to properly ensure your own safety by always doing your research. It will help you to actively and accurately pick or choose the automated brokers recommended by a varied number of review sites.

Testing the Best Crypto Trading Bots

We have an extensive system of vetting in place. We attentively open accounts for all the different bots we trade, recommend, withdraw and properly test them as per the terms and conditions, compliance, user safety and privacy. This is the tried and tested method by which we efficiently review every bot before we suggest them to you.

Our rating system is determined by the following considerations, for all crypto trading bots which we review:

We carefully vet them on all the aforementioned from several accounts – both business and individual accounts – over a period of six months or more before publishing any reviews on CoinBharat. When technological innovation is moving at lightning speed in an unregulated market flooded with a myriad of options to choose from, it is of indispensable importance for your own safety to always properly read the reviews on our site before choosing a crypto trading bot to deposit with.

Latest Developments for Crypto Trading Bots

A Twitter user recently demonstrated the capabilities of ChatGPT, an artificial intelligence (AI) chatbot developed by research firm OpenAI, by creating a simple trading bot in Pine Script, the programming language behind TradingView. ChatGPT has recently been released and is already being used for a number of purposes, including as a trading bot, much to the delight of the cryptocurrency community.

Investing Responsibly

You need to always invest the amount which you can afford to lose. Along with that, you need to understand the aspects of crypto market volatility and do your own research, as to monitor your bankroll and understand when it is the best time to withdraw. Start small, remain consistent, and with enough time put in, you will start earning exponentially.

Conclusion

Conclusively, we can sum up this entire read into three basic points.

Use this guide to increase your expertise and commit more responsibly to cryptocurrency trading bots to witness increased profitability.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

FAQs

What is a crypto bot?

Crypto trading bots are considered to be the bots that are used to automate trades with crypto.

Are crypto robots safe?

Crypto robot trading is a safe method of trading crypto, so long as you use legitimate bots. This being said, one needs to keep in mind that are still strong degrees of risk involves given that it is an unregulated market and that markets are volatile.

How profitable are crypto trading bots?

Using the best crypto robot can be very profitable and is an excellent way to make passive income.

What are the best crypto trading bots?

Some of the best crypto robots have been listed above.

How does crypto trading bot software work?

Bitcoin robots make use of data and technical analysis to make a profit while buying and selling crypto.

How to choose the best crypto bot?

Recommendations from review sites are one of the best ways to choose the right trading bot for yourself.