What we learned from trying out 7 crypto trading bots

photo source: undraw.co

A great user experience (UX) is important for any product, but especially for one that automatically trades your hard-earned money, like a trading bot. If a bot is hard to install, contains bugs, or stops working often, traders won’t use it.

Since we’re building hummingbot, a cryptocurrency market making bot that anyone can run, we decided to try out some of the other crypto trading bots in the market to assess how hard or easy they were to use. Here’s what we learned…

Overview

Because cryptocurrency exchanges offer direct market access by making APIs available to individual traders, there are a number of software packages, both open source and commercial, that help traders run bots that execute automatic trading strategies. These bots focus on different strategies, such as technical analysis, arbitrage, and market making. Some bots specialize on a certain exchange, while others support multiple exchanges. Furthermore, some bots are designed exclusively for decentralized exchanges.

Due to the differences between these bots, assessing their relative trading performance would be an apples-to-oranges comparison. Instead, we decided to compare their relative ease of use of installation, configuration, and operation. Please also share with us your thoughts and experience on using crypto trading bots.

So far, we have tested the following bots, find the details here.


To learn more about Hummingbot:
Check out our website http://www.hummingbot.io;
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