We researched and selected the best automated cryptocurrency trading platforms in 2022. Choose the best automated trading software and start trading now!

There are a myriad of trading platforms out there, which might seem daunting to first-time users or even people who are familiar with the concept of automated trading systems and are simply looking to switch up providers.

Before we get into our carefully compiled list of trading systems, it’s essential that you are able to distinguish between real trading platforms and fake ones. Indeed, recent years have seen a rise in sham services that only exist to cheat you out of your money, which is why we urge traders to do a background check on potential crypto scam platforms using websites such as ScammerWatch or asking around on Reddit communities.

What is Automated Trading?

Automated trading is the process of expediting and optimizing the execution of trade orders on trading platforms according to a set of customized criteria. The process is performed by bots that are able to scan vast amounts of market data in a matter of seconds so as to initiate trade actions based on these predefined settings.

Simply put, the best automated trading system would not only relinquish you from nearly all intervention when it comes to processing your trading strategies, but it would also facilitate more profitable outcomes in less time than it would take you to achieve the same results manually. 

Types of Auto Trading Systems

Now that we’ve covered the basics of what auto trading tools are, let’s go over our list of five of the best trading software providers you can find in 2022.

Pionex is often described as the best automated cryptocurrency trading tool. The platform’s popularity stems from its longevity and easily accessible functionalities. Unique features include:

• 16 free trading bots with elaborate usage guides
• low trading fees of 0.05% per trade
• 346 types of coins on offer 
• demo exchanges
• purchasing crypto using a credit card
• advanced security protocols

Cryptohopper is a trading bot that runs exclusively on the cloud. There is no downtime for the bot and updates are delivered without disrupting your trades or putting your account on hold, making this a safe and reliable option for many coin holders. Neat features include:

• pre-live testing (testing strategies without risk of losses)
• no trading fees, only a monthly subscription fee
• mirror trading (copying top traders’ strategies)
• backtesting
• advanced security protocols

3Commas

3Commas enables both newbies and experienced traders to make profits by building automated trading bots which can trade on over 20 major crypto exchange platforms. The trading panel on 3Commas offers risk management tools for users trading with multiple types of coins. Best features include:

• no trading fees, only a monthly subscription fee
• demo account
• smart trading tools
• advanced security protocols

Shrimpy

Shrimpy promotes itself as “the simple portfolio management solution for the busy person” and is excellent for novice traders. The platform allows users to manage all of their exchange accounts in one place and offers unique, user-friendly functionalities that help users organize their portfolios. Here are some of its nifty features:

• easy-to-use portfolio management / rebalancing tools
• backtesting
• copying other users’ strategies through social trading
• no trading fees, only a monthly subscription fee
• advanced security protocols

CoinRule

 

CoinRule is a very straightforward auto trading tool that lets you connect to various crypto exchanges and implement a variety of trading strategies. Its main target audience is new traders looking for a simple platform that offers lots of resources and support on how to get started with automated trading. Main features include:

• demo exchanges
• extremely beginner-friendly
• no trading fees, only a monthly subscription fee
• numerous bot customizations
• advanced security protocols

How Does Auto Trading Work?

Automated trading employs a combination of smart technologies such as machine learning and AI to automate the process of trading. There are many different kinds of auto trading systems designated for trading digital assets like stocks, forex, and crypto.

What is a Crypto Trading Bot?

Programmed with AI and machine learning, crypto trading bots are designed to acquire information from real-time movements on the crypto market. 

Just like other types of auto trading bots, cryptocurrency bots utilize trading strategies (previously customized by the trader) to examine the collected data and initiate trading actions. A major discerning characteristic of great crypto bots is their capability to accurately estimate future prices of coins according to the data they collect. 

Again, an important thing to keep in mind is that the world of automated crypto bots is riddled with scammers, and that crypto trading safety should be your top priority when choosing a trading bot for the first time.

Is Automated Trading Profitable?

 

The short answer is ‘yes’, and the long answer is ‘yes, with the right manual input and customization’. 

The digital coin market is constantly evolving. If you adopt a 100% hands-off approach to trading without checking in every once in a while to assess where and how your trading strategies should be tweaked, you may not see the most optimal results in the long run.

However, with an intelligent and informed combination of automated and manual trading, you can reach lucrative outcomes within a short period of time.

How to Start Automated Trading

A good starting point for automated trading is doing research to decide on the best auto trading apps that you could use for your trading objectives. Reading reviews from trusted online sources helps, as does learning how to optimally configure whichever trading bot you end up going for.

Again, keep an eye out for scammers that seek to profit off of inexperienced traders by specifically targeting them with sham services. The usual suspects include websites that are titled something along the lines of BitCoin [Insert Random One-Word Descriptor Here] or Bit-[something]. An example of one such platform is BitQT, and you can read this BitQT review to understand how it operates to deceive unsuspecting users.

Advantages of Automated Platforms

When used correctly, automated trading platforms are excellent for helping traders of all levels make the most of their trading chances, optimize their earnings, and minimize their risk of losses.

Whether you are just starting out, or you’re an experienced trader who would simply like to make their trades more efficient, you should definitely consider choosing the best automated crypto trading bot for your specific needs.

Happy trading!