If you are looking for the best cryptocurrency trading bot you are at the right address here as in this article we are going to discuss two of the most popular trading bots – so make sure you go through this whole article before making a purchase decision.
The two bots we are going to discuss today are:
Before we go into detail of these bots let me make one thing clear. None of these bots will turn you into a crypto millionaire in a couple of months. Everyone loves to post screenshots of 1-2% profit per day, but in reality, even the best day trader doesn’t manage to make that much.
A much more realistic expectation would be to aim for 0.2-0.5% profit per day, that would still allow you to grow your bankroll considerably from month to month. So now that that’s out of the way, let’s talk about the first one on our list.
A web-based version that runs on the cloud, that means you don’t have to install any software on your local PC, but it’s also more vulnerable to hackers. If the Crypto Hopper website gets hacker there is a serious security risk that you’re taking.
Obviously, they have tons of security built-in to prevent hacks but you can never be too sure, and of course, your local PC can also get hacked but the chance that happens is a lot smaller, anyway let’s take a look at what Crypto Hopper has to offer.
I honestly haven’t used this service so I can’t say too much about it. They claim they have technical analysists that provide these signals. I just hope it’s not something similar to what I see happening in those Telegram Signal groups and those are pure scams that get you active in pump & dump schemes.
I will soon give it a try and update this post to see how legit this feature/offer is as it could definitely be an interesting one!
Like I said in the introduction, it’s web-based so you can manage the bot from your browser. Another benefit from cloud-based is that you don’t have to worry about your bot going offline at crucial moments. If your internet connection is unreliable this bot might be more suitable for your needs.
Decent sized community
They also have a community of thousands of members. I had no idea Crypto Hopper was that popular as its relatively new but based on their much more professional looking website I can imagine it attracts a lot of users. Users that can help you out when you run into issues.
This is the main strategy this bot uses or perhaps better said the default strategy that’s built-in. Trailing is where Profit Trailer got its name from, it just keeps on climbing as the chart climbs and only stops when it drops. Now, this sounds great in theory but in practice, it obviously doesn’t work as good as its advertised because even during pumps there are small corrections that break this strategy in two.
It looks like you have four indicators at your disposal, StochRSI, RSI, BOLL bands, and MACD.
This bot works on all the major exchanges, I won’t list them all here but if you use a top 10 exchange you can be sure that Crypto Hopper supports it.
Summing it up for Crypto Hopper
It all sounds great, their user interface is very intuitive, and their out-of-the-box strategies are solid. A great bot to get started and get some experience.
They even offer a free trial for one month so you don’t have anything to lose.
Profit Trailer starts at 40 euro/month, up to 100 euro/month for their most advanced version. However, if you prefer to pay a one-time fee that’s also an option. Before committing yourself to a lifetime version I suggest you try their cheapest plan first.
There are multiple buy and sell strategies that you can choose from, right at the start. Indicators that are used include BOLL bands, EMA, SMA [moving averages], RSI, StochRSi, and MACD. In other words, you have all the indicators that you need at your disposal. I’m just surprised that none of the bots offer Fibonacci levels, but perhaps that’s still in the making.
Community & support
They don’t boast how large their community is but there’s always support available 24/7, well actually 24/5, it appears they don’t work in the weekends which shouldn’t be much of a problem.
Dollar Cost Average
Most bots don’t come with this option but this one does. DCA allows you to buy in at multiple price levels, for example, you buy 30% of your budget at the current price, 30% at a price that’s 5% lower, and the remaining at whichever lower price level you prefer.
This way you don’t really maximize your profits but you do minimize your risk in case things start to tumble all of a sudden, you know yourself how volatile crypto can be so that’s actually a great option to have.
They have one of the best dashboards where you can keep check of everything and see which trades made you money and on which ones you actually lost. They also show you an overview of potential buys.
Summing it up for Profit Trailer
If you haven’t decided I suggest you try Crypto Hopper for one month (free trial remember) and try Profit Trailer for one month to see which one suits you best. You can click here for a live demo of Profit Trailer so go ahead and check it out for yourself.
When I read about trading bots on the internet I always thought Gunbot was the most advanced of all. It’s true that they offer the most options to customize the bot so I decided to give it a try.
I like the interface of it, and everything is rather straightforward, based on screenshots of the older version it’s clear they made a lot of improvements to their user interface. Everything looks spick & span.
On my first test run I ran into some errors, apparently, I removed the hosts file from my computer in the past and the bot threw an error because it couldn’t find it. Fair enough, I restored the hosts file and the bot started without any problems (yet).
I entered my settings, like my public and secret API key, and it connected to the exchange (Binance). I modified the bb strategy, added some trading pairs and let it run.
I watched it for a while and nothing happened, then after a couple of hours, it made its first buy. However, when I checked the conditions they weren’t met. For example, I set the RSI at < 30, but it bought an alt coin while the RSI was still at 37 instead. In another instance, it didn’t buy at all when all conditions were met, and in one case it sold the alt coin while the RSI was at 49 while I clearly put RSI > 60 in the settings.
Obviously, I made sure to verify all the metrics, based on the internal chart feature, and the chart at Binance itself double checked everything and couldn’t find anything wrong. Still, it kept on making those same mistakes over and over.
At some point different types of errors started to show up, errors without a message, I checked my internet connection to see if that had something to do with it but I hadn’t been offline at all.
While analyzing everything I made some changes to the settings and played with the bot for a couple of days, triple-checking everything. In that time period, the bot froze twice. I restarted my computer, restarted the bot, and it was still stuck at loading config. In a last effort, I restored the original config file and the bot came alive again.
Now if I had edited the config file manually in Notepad it could be that I made a mistake, but that wasn’t the case at all. I solely edited it through their GUI (graphical user interface). Because I restored the original config file I had to edit all my settings again, and when it happened a second time I grew tired of it.
Summing it up for Gunbot
Although this bot looked promising on the outside there are simply too many issues to deal with. I don’t have time to monitor the bot 24/7, isn’t that why we get a bot in the first place? Not to be hooked to our screen all day?
I wouldn’t mind a simple reset say once a day but the risk of having to re-enter all the settings after a small change, or more importantly, meeting the buy or sell conditions without executing the buy / sell trade makes it extremely difficult to turn it into a profitable bot so I removed this one from my list.