Best alternatives for Cryptotrader trading bot

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Best alternative trading bot for Cryptotrader - 2024

Looking to replace your trading bot at Cryptotrader or just try a new one on the side? We selected our top 3 alternative trading bots for Cryptotrader. During our research we check the trading bots on three different criteria, easy to use, advanced settings and testruns.

Good to know: A trading bot can never replace manual trades and human learning insights, although a trading bot doesn't require sleep and has no emotional involvement in any trade made. Trading bot can make your life easier when is setup and tested properly.

Our best alternatives for Cryptotrader

  1. Shrimpy *recommendation
  2. 3Commas
  3. Cryptohopper

What we've considered while picking alternatives for Cryptotrader

The expectation that the service will perform its intended function adequately for a specified period of time, or without failure.

Security is defined as the state of being protected.

Ease of Use
How easily you can use a the crypto bot alternative.

Can you make profit with the trading bot and the tools they provide within their platform

Does the price match the functionalities & tools they provide to make profit

Cryptotrader alternative Shrimpy (our recommendation)

Shrimpy crypto trading botShrimpy is a great portfolio management solution for the busy person. Shrimpy adapts ideas from smart investors outside of crypto to introduce simple automated strategies which can help decrease risk and increase returns. It even offers historical data, 7 day forecasting & social trading.

Start today with Shrimpy * our recommendation

Link multiple exchanges
Shrimpy has 20+ connections to crypto exchanges, this way you're almost sure your crypto exchange is ready to connect. (not yet active on a crypto exchange? Signup at Binance today) For all crypto exchanges Shrimpy offers a tutorial page so its very easy to connect your accounts.

Manage your portfolios
Within the Shrimp dashboard you can manage multiple portfolio's. This way its easy to have multiple portfolios within one account. For example manual trading portfolio, investing portfolio and a trading bot portfolio. This way you can de-risk and have multiple strategies.

Portfolio Stop Loss
When the market crash, you want to be safe, also while sleeping. With the option Portfolio Stop Loss you can set a stop loss on your whole portfolio. This way when a huge crash happens you can get out without being behind the computer.

Smart order routing
Smart Order Routing is a unique tool designed by Shrimpy that searches on crypto platforms and evaluates all trading pairs with coins. This way you can optimize trades by using the different pairs and use exchanges as a tool to move your assets around for the maximum profit.

Historical data
In the trading dashboard you can find historical price data, market cap information, and statistics through a simple asset. Also you can backtest your strategy and setup of your trading bot, this way you're able to make the most accurate trading setup based on data.

7-day forecast
Within the Shrimpy dashboard you can see a 7-day display price for every asset. This is automatically generated bij the Shrimpy machine learning models. These prices are updated every day and using the data of the last 90 days.

Copy (other) Top traders
Another big benefit of Shrimpy is that you can copy other crypto traders. This way you can find top traders and (auto)copy their trades and strategies. The leaders (aka Top Traders) get paid per follower, so they benefit from doing well. This is a two way benefit as they will do their best to trade well and create a long term relationship. Besides, as a beginner you probably learn a lot from all trades made.

Large Shrimpy academy
As Shrimpy has aexpertteam behind them. They offer a lot of value information and tutorials how to setup your trading bot and use all the tools within the crypto trading bot and platform.

Start now with crypto automation on Shrimpy platform

Shrimpy Trading Bot tutorial video's

Cryptotrader alternative 3commas:

3commas crypto trading bot 3commas is crypto trading bot that is founded in 2017 in Estonia and operating all over the world. 3commas has developed a strong crypto trading tool with the intention of upsetting the traditional competitors.

Start today with 3Commas crypto automation

The amount of exchanges that are supported is astounding. This aspect also suggests that there are more arbitrage opportunities because there are so many exchanges that there is a high chance of finding a significant price differential between them. With a trading volume over 22 billion every month 3commas has huge impact.

So 3commas is a cryptocurrency trading exchange that also offers portfolio management, arbitrage, trading signals, and bots - a comprehensive range of cryptocurrency services that can be handled from a single dashboard.

3commas offers a set of automations that ar easy to setup. Also portfolio management and copy trading are developed on the 3commas platform.

Below the most used features of 3commas

  • Concurrent Take Profit and Stop Loss
    Deal closes when the indicated price is reached, or the deal closes when the price drops at or below the indicated value.

  • Stop Loss timeout
    Take Profit and Stop Loss Trailing feature Automated value adjustments as coin prices rise. Take Profit and Stop Loss points can automatically set to increase if a coin rises.

  • Sell by multiple targets
    Sell your coins by multiple targets. Sell 50% your coins for $2,000, then 30% for $2,500, and whats left for $3,500.

  • Smart Cover
    Accrue additional profit with unexpected market moves. Sell and buy back coins.

  • Charts and Signals from Trading
    View. View concurrent currency rate charts and TradingView signals in a single window.

  • Single-pair bot
    Runs one trading pair

  • Multi-pair bot
    Multiple pairs trading

  • Long algorithm
    Bot buys a coin with settings you build. Next, orders for sale are placed at a higher price. For example, buys it for $10 and sells it for $11.

  • Short algorithm
    Bot sells a coin after you create settings, and then set a buy order at a lower price. For example, sells it for $10 and buys it for $9.

  • Deal Close Signals
    Bot trades according to Trading View signals: RSI - 7; ULT - 7-14-29; TA Presets; CQS Scalping; Trading View custom signals. You can set a deal start condition manually and open trade asap.

  • Analyze and copy bots
    Bots can analyze performance, view and copy other bot settings on the 3Commas platform

  • Portfolio creation
    Simple create portfolios with any coin amounts

  • Portfolio balancing
    Balance your portfolio by maintaining coin ratios so you will always have thee stack you want divided by the coins

  • View & social platform
    Check trade incomes of other users of the platform anonymously

  • Copy trading & social trading
    Watch other traders and copy their setup bot. This way you can learn quickly and avoid mistakees they have made before.

  • Testing
    3commas offers papertesting, this way you can test a certain period if your bot setup is doing what you expected before you go LIVE for real.

What is you holding back? Start today with 3Commas crypto automation

Also 3commas has great (video) content available to learn before you start trading for real. Their team is updating their content and shares new updates about new features and functionality

Cryptotrader alternative Cryptohopper:

Cryptohopper crypto trading botCryptohopper is a popular cryptocurrency trading bot with a number of unique and intriguing options, such as cloud trading, broad social trading possibilities, and a wide range of exchanges to trade on. Stop losses and tail stops are extremely helpful in this situation, as they greatly aid risk management.

This is likely one of the greatest crypto trading bots available, as evidenced by its immense client base (over 150k users) and signal marketplace.

Mirror trading, paper trading, trading methods creator (easy drag and drop design), automated trading, and trailing stop loss are just some of the options included in Cryptohopper.

Start now with Cryptohopper

Videos about Cryptohopper

New to crypto trading bots?

NOTE: cryptobots can be overwhelming at start, but the good cryptobots have awesome testing options available so you can testrun your setup against historical data or testrun your setup on the LIVE market data. No need to worry, start and test YOUR bots till YOU think its time to go LIVE.

Advantages of using a trading bot

Humans have a limit on how much information they can process at once, but robots do not. Sure, a person can check several charts, absorb the data, and make a smart choice on what to do next.

However, human mistakes do occur, and one can only be vigilant for so long. Bots don't get bored of making exceptional judgments based on the information they're given.

What's more intriguing is that crypto trading bots would never experience fear of missing out or be concerned about losing a great deal. Bots lack emotions and will not make poor judgments as a result of them. Trading bots, on the other hand, will always focus on selecting the best option feasible.

Disadvantages using a trading bot

It's hard to teach trading bots to consistently perform the way they should in a trade since the crypto market is so unpredictable. A severe market crash or a circumstance that a robot hasn't been developed for might cause it to make the wrong decision, putting your wealth at risk.

Furthermore, crypto trading bots aren't typically employed to generate big sums of money. They're instead employed to make a series of lesser profits. After all, putting your full portfolio in the hands of a robot is never a wise thing to do.

How to test crypto trading bot

Backtesting crypto trading bot

Most bots are built on the foundation of backtesting. Before you send your bot to a cryptocurrency platform, you must complete this step.

Backtesting your bot against the previous six months or a year is an smart place to start. After the backtest is completed, you will receive the findings, which will include all of the necessary information to determine whether the crypto bot is performing as you like (e.g. total return, maximum drawdown, number of trades executed, etc.).

Paper-testing crypto trading bot

Paper trading allows you to trade with simulated crypto using real-world exchange data. This manner, you can get a feel for the exchange without putting yourself at danger.

GUIDE: Crypto trading bots for beginners

Alternative trading bots for Cryptotrader

  1. Shrimpy *recommendation
  2. 3Commas
  3. Cryptohopper