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What are the best AI crypto trading bots, and can you trust them?

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What are the best AI crypto trading bots, and can you trust them?

Artificial intelligence (AI) bots are gaining popularity for trading cryptocurrencies. Which are the best AI bots for crypto trading, and is it worth trying them?

In 2023, the CFP Board Consumer Sentiment Survey found that nearly one in three investors in the U.S. feel comfortable using financial planning advice from a generative AI-powered tool without checking it with another source.

Artificial intelligence technologies can handle large amounts of data in real-time, making them valuable tools for traders. While current AI bots can’t guarantee perfect price predictions, AI-powered bots have become essential for making quick and accurate trading decisions.

We looked at the most popular options in the market to find the best AI crypto trading bot.

Top 5 AI crypto trading bots

AlgosOne

AlgosOne trading bot utilizes generative AI with its proprietary code, training the model on various market-related data sources. It continuously learns and refines its understanding of the factors influencing market conditions. According to the project, it enables the trading system to make intelligent decisions based on real-time data regarding when to buy and sell various types of financial assets.

The bot operates with a minimum deposit of $300 and only charges a commission on profitable transactions. It trades established crypto assets, promising altcoins, and a variety of additional assets, including stocks, commodities, bonds, forex, and indices.

However, some Reddit users express reservations about the bot’s effectiveness. One user suggests that profits may be lower than during the trial period, and it might take users up to two years to recoup their deposit.

“This is very odd because the priority status is not explained in the terms and conditions, and for the current account structure, the higher tier will get more profits only because they can trade more often in a day. “

Reddit user

Bitsgap

The Bitsgap trading bot automates trades and oversees investor portfolios. Some advantages include its demo mode, the ability to combine trading across different exchanges within a single account, and the option to launch your bot from one personal account. The interface enables users to compare rates on other platforms, switch between exchanges, and track their income.

The artificial intelligence crypto trading platform has the following types of trading bots:

  • Grid bots – a simple cryptocurrency trading strategy to benefit from market fluctuations;
  • DCA (dollar-cost averaging) bots are used to divide investments into several price levels to obtain the best average entry price;
  • The BTD (buy the dip) bot uses the same name’s popular strategy, allowing users to earn and store cryptocurrency in a falling market.
  • COMBO/Futures bot is for trading cryptocurrency or futures contracts. It allows the combination of Grid and DCA strategies.

Bitsgap users highlight advantages such as a user-friendly interface and accessibility for beginners.

“For more advanced traders, it probably will not add too much, at least now. I think the platform’s main feature is simplicity, but with time, you start feeling like it’s too simple. Hopefully, they’ll keep adding more bots or features.”

Reddit user

Cryptohopper

Cryptohopper is a web platform designed for creating and launching artificial intelligence crypto bots on cryptocurrency exchanges. It offers a test environment, a user-friendly interface for developing strategies and technical indicators, and a marketplace. Alongside algorithmic trading, independent trading is also supported.

The Cryptohopper service provides a suite of tools for trading automation, with a focus on bot-driven trading. Users have access to four customizable strategies, and configuring Cryptohopper bots doesn’t require programming skills; parameters can be adjusted through the interface.

With a basic account, Cryptohopper users can run up to 20 bots simultaneously, and they also have the option to place orders directly through the order book.

However, there is a lack of online reviews about trading on the platform, particularly for the Cryptohopper X account. At the very least, it can be inferred that the platform generally doesn’t elicit strongly negative reactions from traders.

Mizar

What are the best AI crypto trading bots, and can you trust them? - 1
Mizar dashboard | Source: Mizar

The Mizar bot is designed to manage and optimize transactions while also automating them. It offers various options, with copy trading being the simplest. For new users, Mizar promises $10,000 in free volume, allowing beginners to familiarize themselves with the platform’s functionality.

Users can invest based on signals or utilize funding strategies created by professionals. Alternatively, traders can fully automate their crypto trading, allowing the bot to trade on their behalf around the clock. If other users choose to copy their trades, they can earn passive income.

The bot includes several features such as take profit, stop loss, trailing, and more, all aimed at minimizing risks and maximizing profits simultaneously.

3Commas

3Commas integrates with a wide array of cryptocurrency exchanges through API connections. Once linked, the trading bot can execute transactions on behalf of the user, enabling round-the-clock trading independently. The user retains control over desired parameters and strategies while the bot manages the execution.

According to the project’s website, 3Commas currently serves over 100,000 users globally, offering compatibility with more than 15 exchanges. Its Smart Trading feature enables users to set multiple orders simultaneously, encompassing stop-loss, take-profit, floating, and other orders.

3Commas offers various bots, including:

  • DCA bots
  • HODL bot
  • Grid bot
  • Option bot

Reddit users caution that implementing an AI strategy for crypto trading demands significant time and investment.

“You may think so during a strong bull market, but wait until a big 40-70 percent dip. I have learned that it can be beneficial when utilized correctly with a plan.”

Reddit user

However, some point out that trading with bots is worthwhile for traders willing to invest their time learning and eager to delve into the topic.

What is the best AI crypto trading bot?

When searching for the best AI software for crypto trading, it’s essential to prioritize reliability alongside key features like real-time market scanning, automated trade execution, and robust technical analysis tools. Trustworthiness is paramount, ensuring that the bot you choose can execute trades effectively and securely without compromising sensitive data or exposing you to unnecessary risks.

Some of the most powerful AI tools for crypto trading could be proprietary systems utilized by investment firms. Many hedge funds have already embraced AI integration into their trading operations. These in-house tools provide a competitive edge by leveraging sophisticated algorithms and proprietary data sources.

Should you trust trading bots?

The concept of using artificial intelligence for crypto trading is increasingly popular. It’s employed by financial institutions and banks, but does it actually work? Do trading bots help generate profits?

The potential of AI applications may still be limited, as they can’t predict future prices with 100% accuracy. Another risk is the possibility of platform compromise and interception of code transmitted through the API, as there is no such thing as entirely impenetrable code. Additionally, AI crypto trading bots are often associated with scams.

So, when you’re thinking about using AI for crypto trading to handle your money, keep in mind that you’re relying on someone else to manage your assets. It’s crucial to choose a reliable trading bot you can trust.