In a hurry?
The best Bittrex trading bot in 2023, as found in our independent testing, is Bitsgap!
About 80% of private crypto traders lose their money due to the lack of automation and emotional bias.
The cryptocurrency market is open for trading 24 hours a day and seven days a week, with no breaks in between.
This means it is easier for traders to enter and pull out positions at any time of the day.
On the other hand, this overexposure can also lead to overcalculations and a lot of missed opportunities which can result in a massive loss.
Luckily, developers have found the solution to this problem through trading bots.
Crypto bots eliminate human impulsiveness as they are pre-programmed technologies using tried-and-tested trading strategies that are historically profitable.
Meaning, they never move without calculation.
Don’t lose your sleep again on trading crypto. In this article, we will introduce five bots that you can use along with the Bittrex trading bot feature.
We will also provide information on the profitability rate associated with automated trading.
As they have become a worldwide phenomenon in the past years, there are a lot of trading bots available in the market today.
However, some Bittrex trading bots have a higher chance of increasing your profitability than others.
Best Bittrex Trading Bot in 2023
Here are the best Bittrex trading bots you must check out in 2023:
At the top of the list of best Bittrex trading bots is Bitsgap. Like others, Bitsgap uses API keys which is an intermediary software allowing two distinct digital platforms to talk with one another, to connect with Bittrex.
The site is an all-in-one trading platform helping users bring all their crypto exchange accounts under one roof.
This is to help with easily managing your portfolio, especially if you are using multiple exchanges to trade.
Bitsgap offers a demo mode where new users can test trading bots, build knowledge, and learn about their preferred trading styles before putting real money in the deal.
Moreover, it allows backtesting which measures the effectiveness of a strategy using tested historical data.
Bitsgap supports almost 20 exchanges, including Bittrex. It leverages artificial intelligence strategies to optimize the user experience and ensure their investment goals are met.
In terms of security, the site uses high-end encryption which protects all personal and confidential information secure at all times, even when connecting to third-party apps.
While a free account is available, Bitsgap offers paid plans to allow access to broader services.
The Basic plan comes at $19 per month, the Advanced plan at $44 per month, and the Pro plan at $110 per month.
These plans all vary in feature access and maximum trading cap.
Second on our list of the best Bittrex trading bots is Coinrule. It is a next-generation trading platform founded in 2018 in London, United Kingdom.
To fuel its future growth, the management has already raised $3.5 million worth of funding from private investors. $2.1 million of this total amount was collected during its latest funding round in late 2021.
Coinrule is one of the most beginner-friendly crypto bot platforms you could encounter.
It features a clean and simplistic design to help investors navigate through its interface easily.
Also, it uses widely-accepted market indicators for a more efficient investment allocation.
These include paper trading and backtesting which are strategies that are known to improve long-term profitability.
In terms of safety, Coinrule uses military-grade encryption which is among the best-rated encryptions available today.
Coinrule offers several subscription options to choose from.
Traders can start with a free starter plan that comes with two demos options and a monthly trading ceiling of up to $3,000 worth of cryptos.
For those planning to take this path seriously, paid plans and annual subscriptions are also offered with a 20% discount as follows:
The Hobbyist Plan: $29.99 per month. Allows access to up to two crypto trading exchanges and a $100,000 monthly trading volume cap.
The Trader Plan: $59.99 per month. Traders can connect to three exchanges and trade $1 million worth of crypto monthly.
The Pro Plan: $499.99 per month. This subscription option allows access to unlimited exchanges, 50 demos options, and a trading volume ceiling of $5 million.
Investors will pay a 0% trading fee upon availing of any of these plans.
Coinrule’s customer service is fast, with an average of one to three minutes response time for queries and complaints.
As of the moment, it has no mobile app and exclusively operates using a website.
Another platform compatible with Bittrex is Quadency. It has a claim to fame of being the best one-stop trading platform for investors of all trading levels.
It aims to give a simplified experience using pre-built strategies and an intuitive setup you can use to optimize your trading experience.
Quadency supports more than 1,500 crypto assets and is compatible with offline wallets.
This means you can transfer your holdings from cold wallets such as Trezor and Ledger using this site. Moreover, it allows traders to code their own trading strategy using Python.
For users with no experience in any programming language, worry not as you may request a custom trading strategy which the Quadency team.
The in-house developers can custom-made a code for you and make it usable on your account.
There is a good selection of subscriptions on the site, but the Pro Plan remains superior.
Under this plan, users may use 11 trading bot options which include a portfolio rebalancer that automatically liquidates and buy assets according to portfolio allocation.
Also, less experienced traders may use the Grid trading bot to take advantage of price volatility.
Investors do not need to pay trading fees after the availing of subscriptions.
Aside from desktop access, this platform is now available in a mobile app and helps users view assets in selected fiat currency denominations.
It will soon launch a deposit and withdrawal feature to further improve the trading experience.
Another crypto robot that is making rounds in the cryptocurrency space today is Napbots.
It is perfect for those looking for easy-to-use bots with good track records.
Unlike its counterparts, this cloud-based site’s core focus is on the market’s most liquid digital assets.
So far, it already facilitated 100,000 trades by 7,000 current community members since its launch in 2017.
Like other crypto bots, it integrates with crypto exchanges via API key which makes the linking fast and secured.
Also, it introduces new strategies every three months which helps investors ride the latest market trends.
It now has 20 different algorithmic strategies which can be executed using three time periods namely daily, weekly, and monthly.
For those wanting to test it out first, NapBots offers a 7-day trial period before choosing a subscription. Monthly payments range from 19 to 99 euros.
The 99-euro option is the only subscription that allows users access to all the site’s features. The minimum deposit for all members is 1,000 euros.
NapBots has no reported hacks or cyber security intrusions so far and has 24/7 customer support to attend to customer queries at any time.
NapBots’ vision is to strive for continuous improvement and it does so by continuously investing on growth.
Another cloud-based trading bot you should check out is Trality. This site is developed in 2019 in response to the highly volatile crypto space.
It caters to both beginners and advanced-level traders alike.
Trality offers two ways to create bots using tools suitable for both coders and non-coders.
First is the Code Editor which is for the advanced-level traders adept in using Python for coding.
Another is the Rule Builder which allows the selection of pre-built strategies with over 100 technical indicators on the platform.
You may also rent a bot in Traility’s Marketplace that best resonates with your risk tolerance and investment goals.
Trality offers four subscription plans namely Pawn, Knight, Rook, and Queen. The Pawn is free to use and allows 5,000 euros or a $6,050 trading volume quota.
Next is the Knight with a monthly payment of $12.10 for the use of two (2) virtual live bots.
The Rook has a monthly subscription of $48.40 and allows access to five virtual live bots. Lastly, there is the Queen subscription with a $72.60 monthly payment due.
It features an unlimited trading volume quota and the use of up to ten (10) virtual live bots.
As of this writing, Bittrex is still not on the platform but it will not be long before we see it on Traility as the platform constantly adds new exchanges to its list.
What is BITTREX?
Bittrex is a mainstream cryptocurrency exchange known for its straightforward and beginner-friendly interface.
All the important information is listed on the homepage, including its security record and mobile app download option.
Bittrex Global’s mobile app is accessible to users worldwide, available on both Google Play Store and Apple App Store.
Bittrex Global was founded in 2014 by former Microsoft employees.
Currently, it supports more than 350 cryptocurrencies including mainstream and new tokens that are not listed on other exchanges.
Some tokenized stocks could also be traded on the site. It accepts new token listings that could be listed directly on its site.
After years of waiting, Bittrex now supports fiat transfers in USD and EUR.
Deposits can be made using a variety of options such as bank transfer, debit/credit card, and Wire transfer.
Depending on the 30-day trading volume, maker and taker fees range from 0.00% to 0.35%. This is one of the lowest among crypto exchanges today.
It adopts multiple layers of security protection to keep crypto funds and keep transactions secured.
Moreover, it uses an advanced trading engine to accommodate real-time trading even during heavy demand.
The best thing about Bittrex is it keeps the majority of its funds in a cold wallet.
About 80% to 90% of its total holdings are offline which is safer compared to regular exchanges.
Lastly, the Bittrex referral program gives up to 10% commission on every trade for users who managed to recruit using their link.
What are Trading Bots?
Trading bots have become very popular with the rise of crypto trading.
They are computer programs that automatically buy and sell cryptocurrencies on behalf of a trader, intending to increase profit.
Bittrex trading bots help investors make better trades by analyzing historical data and artificial intelligence and placing trades on behalf of traders.
This lessens the time spent on trading while maximizing profits as every trading bot is designed with a different function.
On the other hand, some bots are also not profitable. It is best to try a strategy first before going big on automated trading.
Why Use Bittrex Trading Bots?
Bittrex Trading bots operate 24/7 while humans need to sleep. This opens for greater opportunity to ride price volatility, buy at the lowest points and sell at highs.
Bittrex bots are not dictated by greed or fear which is contrary to human emotions. They strictly follow statistics and algorithms.
They can also execute more trades and process more data which all contribute to profitability.
Are Bots Profitable?
Trading bots can be profitable. A good strategy’s daily return can range between 0.1% to 0.5% which translates to a 500% increase annually.
On the downside, bots do not track psychology-based trends and solely base movements on historical data.
This means using them during extremely unexpected situations such as the pandemic and economic crises or whenever a lot of sell-off happens can also lead to massive losses.
This means incorporating hasty strategies is not the best way to profit when using trading bots. Investors still need explicit knowledge and expertise before jumping into this venture.
Are they Safe to Use?
As many are not capable of making direct deposits and withdrawals, there is a lesser likelihood of intrusions.
Similarly, many trading bot sites store the majority of their total holdings in cold storage which is known as the safest storage today.
Lastly, sites involved in this business are known to employ two-factor authentication and end-to-end encryptions.
How to Get Started with Bittrex Trading Bots?
Here is a simple guide on how to trade on exchanges using trading bots:
Step 1: Sign up for an exchange. Bittrex is one of the best exchanges to choose from as it offers low trading fees and ensures transactions are safe at all times.
Step 2: Sign up with a bot such as Bitsgap bots sites. To use trading bots on exchanges, having a personal account on crypto trading bot sites is a requisite.
Step 3: Generate the API key from your Bittrex account and connect your Bittrex account to a trading bot site by copying and pasting the API key and clicking “Connect.”
Step 4: Set your trading rules at which your bot will move for you. There are different strategies available but the most common is buying at the dip and selling at the peak.
Step 5: Launch your bot and the trades will automatically be executed. It is that simple!
Crypto trading presents a wide variety of opportunities due to its highly volatile nature.
Good thing, the best Bittrex trading bot can now do the work for you even when you are away. We hope you enjoyed reading our best Bittrex trading bots article.
Despite the lucrative opportunities presented in using crypto bots, the crypto market remains a highly volatile investment.
Always trade with caution.