The cryptocurrency exchange market is good because it works around the clock, allowing you to make large profits. To help you come to the software, which does not know fatigue and does not commit human errors, will be just right.
Before we identify the top 5, let’s first understand what trading robots are. Simply put, it is a computer program that takes care of the actions of a trader on a cryptocurrency market, monitoring the volatility of quotes, making transactions and much more. The good robot can make trades faster and more productively than a trader could do it manually.
Another term that needs to be understood before moving on to the topic of our article is grid trade. This is a strategy in which a so-called grid is formed, consisting of buy and sell orders placed at equal distances on either side of the selected price. As soon as the price moves up or down, it will still cross the grid lines, so you can trade at the rate you selected..
What is a crypto grid bot?
This is a computer program that performs trading operations using the principles of a grid strategy. It forms a grid of orders based on the parameters set by a trader, and makes deals only within this grid. That is, when the price crosses the grid line set by the bot, it performs an action that is triggered at that level.
Essentially, a grid strategy is a trading plan for a robot that determines at what price to trade the assets on each line and how much money to spend.
The best grid bots in 2022
If you want to succeed in the stock market and plan to use a grid trading bot, you need to choose which bot to use. We will tell you about the five most useful and widely used bots this year.
BitsGap Crypto Grid Bots
BitsGap is a universal trade platform uniting more than 25 most famous exchanges. It allows you to work on each of them, using a single format and thereby simplifying trading.
To automate traders’ activities and facilitate their work, the company BitsGap has developed well-proven trading bots, three of which operate on a grid strategy.
The way the bots work is simple: they place a series of buy and sell orders within the price range you set. As soon as the price reaches a level in that range, the bots will instantly execute the order and place another one just above or below the range the trader requires.
One of the bot’s distinct advantages is the automatic adjustment of the grid. However, to use it, you need to have a paid account on the BitsGap exchange.
Pionex Grid Bots
Pionex is one of the top crypto brocker, which, in addition, is supported by a sufficient number of well-known investors. The exchange is headquartered in Singapore.
However, more valuable and meaningful to us is the fact that the exchange provides a number of trading robots that implement a strategy we are already familiar with.Several of them are designed to implement grid trading. Each bot uses a different algorithm, but each one does its job well. For example, you can use a bot for both classic grid trading and leveraged trading.
You do not need to pay for grid trading crypto bots if you are going to tor on the Pionex exchange. All you need to do is register on the exchange and fund your wallet.
WunderTrading grid bot
Another popular and convenient platform that facilitates traders’ work. Thanks to it, you can trade on a professional platform with many advanced tools, as well as use the experience of other traders through copytrading.
One such tool is the Grid crypto trading bot. The bot successfully implements grid trading, allowing you to entrust it with this task and not be distracted by checking its work. All you need to do is set the initial parameters. Thanks to the bot’s flexible settings, you can easily automate grid trading.
3Commas grid bot
3Commas is another popular and well-known place that has gathered a large number of traders.
Created by the developers of the platform, the Grid bot provides all opportunities to automate trading and make a profit without spending a lot of effort.
The main advantage of the bot is the ability to set the upper and lower limit of the grid using AI. However, no one prevents you from doing it manually. The bot is not free, but provides three days of the full version, which is quite enough to get a detailed look at its work.
KuCoin Grid bots
KuCoin is a cryptocurrency exchange with support for different types of trading – margin, futures and spot.
KuCoin users can trade using several bots, two of which are Spot Grid and Futures Grid, which use a grid trading strategy in their work. Like most of these bots, they sell when an asset is rising and buy when it is falling. The advantages of bots include artificial intelligence, the ability to use up to ten bots simultaneously for different trading pairs in order to minimize risk, and the fact that it is completely free for exchange users.
In conclusion, it should be said that it is not possible to automate trading entirely, because you will have to manually change the price around which the robot will set its orders. However, you can forget about checking out the bot for some time and go about your business.