In a hurry?
The best Hummingbot alternative in 2023, as found in our independent testing, is Pionex!
Hummingbot is a community-driven crypto trading and open-source platform designed to democratize automated and algorithmic crypto trading by developing advanced high-frequency trading strategies freely accessible to everyone across the world.
However, the platform is not beginner-friendly, so new, amateur, and inexperienced investors may find it hard and confusing.
If you also find the platform hard and confusing to use, or you’re looking for Hummingbot alternatives, no problem.
We’re here to help. We’ll recommend some of the best Hummingbot alternatives that are more efficient and useful.
Here is a list of the top 5 Hummingbot alternatives that you can need to try in 2023.
Best Hummingbot Alternatives in 2023
A leading crypto trading exchange that comes with 16 in-built automated trading bots and a competitive fee structure is Pionex.
One of the best Hummingbot alternatives enables its users to computerize their trading strategies on crypto assets or incorporate with leverage via a user-oriented platform.
It’s a centralized platform for crypto trading launched in 2019 and has headquarters in Singapore.
Pionex sums up liquidity from the world’s best crypto trading exchanges like Huobi Global and Binance instead of just allowing its order books for eager buyers and sellers.
This enables the crypto trading bot, Pionex, to achieve competitive prices for its trading pairs and register a broad range of supported crypto assets for investors to purchase and sell on the spot market.
It’s suitable for both experienced and amateur investors who want to learn the way of crypto trading with automated bots.
Although the platform doesn’t offer a demo trading account to perform trading practices without risk, it allows 16 remarkable trading bots like Grid, Leveraged, and Martindale trading strategies.
Pionex is, in fact, one of the very few cryptocurrency trading exchanges that offer a wide range of automated trading bots to investors that can be set up easily and quickly.
The platform currently provides 16 trading bots that are completely free to use.
However, it’s really important to know about these bots because it comes with no demo account.
The Grid Trading Bot is one of the most popular bots that offers a strategy for range-bound crypto markets.
The Grid Trading Bot automatically orders a purchase trade when the crypto prices reach the lower limit of a pre-set grid and sell when its prices reach the upper limit of the predetermined Grid.
Pionex offers its users an option to either set the Grid manually or use its algorithm to set the price range depending on the historical data of the past 7 days.
It’s the best tool for new investors with no trading knowledge.
Although it usually helps investors gain profits, keeping in mind the high volatility of the crypto market, sometimes it may incur losses.
Trading Bots Available on Pionex
Being one of the very few platforms that offer 16 bots free to use, Pionex is undoubtedly one of the best Hummingbot alternatives. Here is a list of its trading bots:
- Infinity Grid
- Spot Futures Arbitrage Bot
- Trailing Sell Bot
- Dual Investment
- Martingale Bot
- DCA (Dollar-cost Averaging) Bot
- Time-Weighted Average Price (TWAP) Bot
- Grid Trading Bot
- Rebalancing Bot
- Margin Grid
- Smart Trade
- Leveraged Reverse Grid
- Reverse Grid
- Arbitrage Bot
- Trailing Buy
- Leveraged Grid
Pros and Cons of using Pionex Trading Bots
Coinrule, the second-most popular Hummingbot alternative, is a cryptocurrency automation software that helps traders execute investments on their behalf to simplify crypto trading strategies and connect their different portfolios in various crypto exchanges.
It has a user-friendly interface, and it gives priority to efficiency and simplicity to offer concrete solutions to generic strategy.
The Coinrule crypto trading platform was established in 2018 by Oleg Gilberstein and Gabriele Musella.
The founders claim that their platform improves and boosts all the widely used strategies in popular crypto exchanges.
It supports multiple crypto-assets giving a vast choice to investors to choose from.
The platform enables its users to modify their trading strategies and develop new ones to invest with.
Coinrule operates a web-based trading solution, and its team utilizes a clean, simplistic, user-friendly design that any trader can easily understand.
Coinrule comes with more than 150 crypto trading rules (strategies) that an investor can use at any point in time.
Moreover, the Coinrule users can determine their crypto trading rules with the requirements to understand or use any code.
It works through the modern and advanced technologies and API to more than ten supported crypto platforms.
Usually, the platform takes around 500 milliseconds to transmit any order to the market, making it quite a fast platform.
Trading Bots Available on Coinrule
The Coinrule crypto trading exchange offers a wide range of tools with 150 trading strategies. Alongside, it also comes with some automated bots, namely:
- User-Friendly Automated Trading, and
- Built-In Trading Strategies
Pros and Cons of using Coinrule Trading Bots
The third Hummingbot alternative on our list is Bitsgap, established in 2018 and providing a broad range of tools and services to digital currency investors.
A trader can find many services, including trading bots, portfolio management, demo mode, and signals.
The platform is not limited to just one kind of cryptocurrency trading and compels investors to use various exchanges to satisfy their needs.
Bitsgap, in fact, makes the whole process of managing crypto portfolios a lot easier and helps in performing important trading tasks.
And that’s what set Bitsgap apart from other trading bots that rely on a single model. It enables users to combine their asset management and crypto trading service needs.
Moreover, the demo mode of Bitsgap enables an investor to mimic trading tasks and strategies without any risk of losing money.
It ensures amateur traders have sufficient practice with these mechanisms before spending their hard-earned money.
Likewise, experienced traders can test their strategies before applying the same.
Trading Bots Available on Bitsgap
There are currently five in-built automated trading bots available on the platform. These are:
- Classic Bot
- SBOT Bot Strategy
- Trailing Bot
- Scalper Bot
- Future Trading Bots
Pros and Cons of using Bitsgap Trading Bots
Another Hummingbot alternative, KuCoin, is a crypto trading platform that offers digital assets traders with a vast range of advanced crypto trading tools.
When it comes to 24-hour trading volume, experts ranked KuCoin as one of the top ten crypto trading platforms.
It provides its users the ability to invest in most top crypto coins, such as Ethereum, Bitcoin, Litecoin, and others.
The trading bots of KuCoin enable the investors to trade and increase crypto holdings without monitoring the charts and crypto market round the clock.
There are six types of in-built automated bots available on the platform to choose from, including DCA, Smart Rebalance, Spot Grid, Futures Grid, and others.
While setting up the bots, an investor needs to choose a strategy. This will dictate the number of returns they can expect.
It shows a trader the highest return of each strategy so that an investor knows how much profit to expect.
Trading Bots Available on KuCoin
KuCoin allows its users to choose from a set of six unique in-built automated crypto trading bots, namely:
- Infinity Grid
- Margin Grid
- Dynamic Rebalancing
- DCA (Dollar Cost Average)
- Futures Grid
- Classic Grid
Pros and Cons of using KuCoin Trading Bots
The last Hummingbot alternative, 3Commas, is a crypto trading exchange developed to help an investor with in-built automated digital assets trading bots.
Currently, there are over 33,000 3Commas users, and its per day trading volume amounts to 10 million USD.
Trading Bots Available on 3Commas
Popular trading bots available on 3Commas are:
- FTX Trading Bot
- KuCoin Trading Bot
- Binance Trading Bot
- Gemini Trading Bot
Pros and Cons of using 3Commas Trading Bot
That’s all for today’s article. We’ve mentioned five of the best Hummingbot alternatives available in the industry.
However, if you want to know our recommendation, it’ll undoubtedly be Pionex.
These are the reasons why we think Pionex is the finest Hummingbot alternative and recommend you to try it in 2023:
- It offers fully cloud-based automated trading crypto bots
- All the bots are available free of charges
- The platform offers a wide range of trading bots
- Its trading bots are back-tested and fully automated
Remember to analyze the other trading bots also before making any choice.