5 Best Free Crypto Trading Bots 2021 – How to Choose

What are the best free crypto trading bots? You may be an ardent crypto trader and may even check the ups and downs of the markets diligently on a daily or even an hourly basis but that does not guarantee that you will be able to trade most efficiently.

If you want to enhance your efficiency and chances of making a profit while crypto trading, you should use one of the many algorithmic crypto currency trading bots.

A crypto trading bot will help you to set up different trading strategies that will significantly enhance your chances to make profit. Some of the strategies to set up include:

  • Average Reversion – This is based on a plain assumption of the price of the coin reverting back after moving from its average.
  • Momentum Trading – This allows you to judge the ups and downs of the momentum of the market and choose a positive one.
  • Arbitrage – This allows buying and selling coins at the same time taking the advantage of the price variance in different exchanges by fragmentation.

However, with a large number of crypto trading bots available now, it is not easy to choose the best one according to your level of experience and personal preferences, especially if you are looking for the best free ones.

This article will have it all covered for you. Check out Best Crypto Signals.

5 Best Free Crypto Trading Bots

Best Free Crypto Trading Bots

Here is a list of some of the best free crypto trading bots that will increase the probability of making profits significantly. Choose one of these and trade better and faster across numerous exchanges and with multiple currencies.

1. Blackbird Bitcoin Arbitrage – Effective Tool for Any Market Condition

This is a specific computer program which will help you to compare and examine the prices of Bitcoin at different exchanges.

In turn, this will help you to make the most out of the price differences when you make automated trades.

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The most significant aspect of this automated trade is that this will help you to take advantage of the price differences in the market rather than selling the coins on your own.

Another significant aspect of this bot is that the volatility of the market as well as the coins does not affect it, making it one of the most effective tools to use for any given market condition.

Also, you will not experience any latency issues with this bot and it will help you to make the most profitable trade whenever there is an opportunity. However, Blackbird, as of now, is solely an automated Bitcoin trading bot.

2. Superalgos – Easy to Use

You will not need to have exceptional coding skills or technical knowledge to use this crypto trading bot as you would need if you use the other bots.

The visual interface of Superalgos is just like those you will find in most of the paid crypto trading bots. This bot also allows automated crypto trading and its capabilities are quite surprising.

The most unique aspect of this trading bot is its ability of back and forward testing apart from its intuitive and easy to use visual interface.

3. Catalyst Enigma – For Complex Trading

If you are into advanced crypto trading and want a free trading bot to help you out in making complex trades, this is the one you will find to be a good choice and quite capable of it.

This bot is pretty customizable and works fine due to its Python programming language.

The dashboard of this trading bot is quite intuitive and useful which helps in testing different and more complex trading strategies, custom and otherwise, and analyzes all those most effectively.

This will provide you with some valuable metrics pretty fast which will enable you to find out the best trading strategy to follow.

You can even share this data provided by the bot with others as well and compare different notes to find out the strategies that are most effective in the current market conditions.

4. Ichibot – Help for the Hard Line Traders   

You can consider this to be the best crypto trading tool rather than a trading bot. This is because it will not make any decisions when it comes to trading on its own due to the command line interface that it runs through.

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Actually, you can consider this as a platform for creating trade strategy design. This bot is useful for those users who prefer coding rather than clicks.

It will also help you to design complex trade strategies for different crypto trading exchanges like FTX and Binance and carry them out in real-time.

This will help you significantly to make the best out of the current fluctuations in the market conditions, which is the prime intention of most of the hard line and professional traders.

5. TokenSets – Powerful DeFi Bot

This is one of the best DeFi bots that you will get today. It is a very powerful and functional crypto trading bot.

It will help you immensely in your portfolio management aspect, a significant aspect that determines the probability and enhances the chances of profitability.

Typically, the DeFi or Decentralized Finance assets are indemnified portfolios. The good thing about these sets is that it has the ability for rebalancing investments according to the trading strategy of each investor.

Another unique aspect of this trading bot is that while a few sets are managed by the institutional creators or even by the individuals, a major part of these sets are robot sets.

These mechanized sets have the unique ability of rebalancing automatically, depending on all of the different technical parameters and indicators.

Things to Consider When Choosing a Free Crypto Trading Bot

When you are out to choose one of the best crypto trading bots, the free ones in particular, here are the specific factors that you should look for.

  • Reliability

This is one of the key factors to look for in a free crypto trading bot. If it is reliable then you will be able to trade confidently and efficiently around the clock without any hassles or glitches, such as going offline frequently.

If that happens, you will surely lose a lot of opportunities. Therefore, make sure that you choose one after going through a lot of reviews from other users specifically.

You should choose a crypto trading bot that is safe and secure to the hilt. This will prevent the hackers from accessing your account or any other technical issues that may affect or harm the trading strategies.

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Typically, the hackers are known to target trading exchanges and bots and therefore both should be as secure as possible.

Once again, research and reading reviews of the satisfied users is elementary to make such a choice.

Choose one that is known for its security and also has a good track record of ensuring safety of the traders and their trades. Also, check that the team behind it is legitimate and accessible.

  • Ease of Use

Ideally, the main objective of using a crypto trading bot is to trade faster and most easily. Therefore, choose one that has an intuitive interface and a good layout of the dashboard.

This will make it easier for you to use it and trade quickly, irrespective of your level of proficiency.

Ideally, it should blend perfectly with your personal strategy of trading crypto coins freely without needing to do much of a customization.

Also, check the response of the customer support, frequency of rolling out updates, how quickly and efficiently the bugs, if any, are solved.

  • Profitability

The success rate of the crypto trading bot you choose plays an important role in determining how profitable your ventures will be.

Ideally, you should choose a bot that can help you to achieve profits consistently. Therefore, know its success rate by reading the reviews of the active community.

Conclusion

You will need to choose and use a crypto trading bot prudently to minimize the risks involved in making such investments.

Though it cannot replace a human entirely, it will surely help in trading more confidently, effectively and efficiently.