Top 5 Altcoin Auto Traders
With the rise of cryptocurrency came a surge of speculation in crypto-investing. This resulted in the volatility of the market. If you aren't keeping up to date with the latest trends or obsessively watching the candle patterns, you might struggle to gain an advantage in the markets.
But these events have not hampered the growth of the industry. The crypto world has moved from Bitcoin to other alternative coins referred to as altcoins.
Altcoins, as the name indicates, are short for alternative coins. Altcoins refers to coins other than Bitcoin. The primary reason for the creation of altcoins was to break the monopoly held by Bitcoin in the crypto world. Examples of alternative coins are Ethereum, XRP, etc.
Although bitcoin accounts for more than 45% of the total market capitalization, it's still a positive thing that investors have the option of diversifying their portfolios in the crypto market.
In later paragraphs, we will examine the Top 5 Altcoin Auto Traders you should know about as a trader. But before we do, let's talk about crypto trading bots and what they are.
What are Crypto Trading Bots?
Crypto trading bots are software made to interact with exchange platforms using an application programming interface called API. The API allows the bot and the Exchange platform to communicate.
Traders use these trading bots to install complex trades and strategies, such as market-making, arbitrage, trend trading, and mean reversion, which you can read about here.
What are the Benefits of These Auto Traders?
- Helps to lower human errors: Since automated software carries out most of the trades, it reduces the contribution of human error to loss in trade.
- Allows backtesting: Backtesting is the process of testing trading strategies on historical or past data. These bots allow traders to test their strategies.
- Promotes discipline: Because trades carried out are automated, the bot reduces motivated trades, which will most likely lead to loss.
- Promotes diversification: Bot allows its users to open different trades and many accounts, which can help traders diversify their accounts.
With that said, here are the Top 5 Altcoin Auto Traders every trader should know about.
Cornix Trading Bot
A Cornix trading bot is an essential tool for a crypto trader. It allows a trader to be able to check and follow their top signals from various platforms. Cornix bots allow users to manage their trade on their mobile phone, without the need for an exchange such as Bitmex and Binance.
Registering for Cornix Trading Bot
To be able to register and use the trading bot, the user must first of all download and install telegram on their mobile phone. Telegram can be downloaded from any application store on your mobile phones, such as Apple and Play stores.
Next, search for Cornix Trading Bot on the search tab; this will bring many options to select from. Choose the option with the telegram Id: @cornix_trading_bot. Once you join the telegram group, you can start a conversation with Cornix trading Box.
Besides, Cornix offers its members access to two communities after registration. This community includes Cornix communities and Cornix announcements. These communities allow you to be able to communicate with the members of Cornix.
The Cornix community is a general group where you can ask questions and clarify confusion about the bot. While the Cornix announcement is a more advanced group which provides useful announcements and information to its subscribers.
The final step is to read the terms and conditions and click on the accept button to start a conversation with the Cornix bot.
How Do You Connect Your Exchange to the Cornix Bot?
To connect the Cornix bot to your exchange, the first thing to do is click on the General configuration settings displayed on the screen. After this, click on client management and add exchange. Cornix bot offers access to exchanges such as Binance, Bitmex, Bittrex, Bitfinex, Kucoin, Deribit, etc.
You should select an exchange and follow the instructions to log in to your exchange account.
Why Cornix Bot?
Cornix bots offer many functionalities to their members. Examples include portfolio management, signals, status, auto-trading, and many others. To improve the user experience of the app, you should enable notifications so that you can keep up with important information and signals
Cornix and Auto-Trading Feature
This unique feature allows you to follow the signals of your favorite and trusted provider. So how does this work? After the signal is released by your provider, the Cornix bot carries out the trade for you. This prevents you from missing out on any important signals. Cornix bots allow you to open trade, take profits, close trade and even fix stop loss.
To fix the auto trade feature, click on the auto trade option and accept the terms and conditions. After this is done, signals available to your exchange will be displaced.
Pros of Cornix Bot
- The bot is easy to operate
- It comes in cheap plans, although you can also subscribe to more sophisticated plans. Plans could be the beginner plan ($24.90), the intermediate plan($32.9), and the pro plan($59.9).
- Cornix has a strong reputation in comparison to other bots.
Cons of Cornix Bot
- It relies too much on the signals provided by professional providers.
The Zignaly bot works like the Cornix bot. Its trading bots allow its users to follow and place trade signals provided by a signal provider. This means that its users can no longer worry about missing important signals as this bot has them covered.
The Zignaly platform provides more security and speed to its users when carrying out trade. It can guarantee security and speed through its use of cloud-based technology.
One of the unique features of the bot is the trailing stop loss which allows the user to exit a bad trade. This is the most used feature of this bot. Although the bot allows you to link only two exchanges so far, Binance and Kucoin are currently working on other exchanges.
Is Zignaly secure?
Yes, the trading bot is very secure. Zignalay does not have access to client's deposits, and your money is being held by your exchange, which is protected by many layers of security. Zignalay also uses encrypted API security, which is stored outside its database. The 2-factor authentication also adds an extra layer of security.
Zignaly and auto trade features
As explained above, the bots accept signals from an external signal provider and carry out the trade. Also, the bots allow you to set your rules for carrying out automated trades. It can be used on platforms such as tradingview or telegram and is easy to operate.
Pros of using Zignaly
- Subscription payments are cheap
- Its software is independent and allows you to use it on other platforms like telegram, review, and others
- It provided extra security for your data
- Trailing stop loss.
- No limit to the currency traded, including altcoins
Cons of using Zignaly
- It is not acceptable on some exchanges
- They do not provide materials on their trade strategies
Cryptohopper bots allow you to use third-party applications with their own platform. These applications will increase the efficiency and functionality of the bots. It can be used on apps like telegram or tradingview.
Also, the bot allows you to back-test your strategies and make configurations as many times as you want. This is one of the unique features of the bot software. Cryptohopper also comes with a custom system to put you through the application and how to use it.
Besides these features, Cryptohopper also offers features such as automatic trading, portfolio management, mirror trading, trailing features, DCA, paper trading, and many others.
Cryptohopper and Automated Trading
Cryptohopper allows its user to check trading signals through technical analysis and other strategies. Its technology is about 0.01 sec faster than other technology, making it unique to find tight opportunities.
Users also have access to indicators such as Stoch, RSI, Bollinger band, and MACD. The hopper comes in three packages. This includes the Explora starter package, which allows the user to open 80 positions and trade with a maximum of 15 coins. It also has a run time of 10 minutes. The package usually costs $16.58.
The adventurer hopper medium package allows the user to open more than 200 positions and trade a maximum of 50 coins. The adventurer package has a run time of 5 min. The package cost $41.58. The hopper Pro allows its users to open more than 500 trades and trade 75 coins in the exchange. Its average runtime is about 2 minutes. It usually costs about $83.25.
Pros of Using CryptoHopper
- The interface is user friendly and easy to use for beginner
- It bots provide a detailed analysis of the trade and signals
- It uses a cloud base to store its user's data
Cons of Using Cryptohopper
- There is no proper information about the founders of Cryptohopper
- It is quite expensive
The Wunderbits have become popular among crypto traders as it allows them to trade many complex strategies and signals. Unlike Zignaly, Wunderbit supports many exchange platforms such as Binance, Bitmex, FTX, Deribit, etc.
Wunderbit also provides more services such as DCA, automated trade, trade bot, signaling market, etc.
Pros of Using Wunderbit
- It supports many exchange platforms
- It can execute complex signals and strategies
- It allows the user to be able to manage their portfolios
- It allows for crypto marketing
Cons of Using Wunderbit
- It still does not cover all exchange platforms
- It isn't as proven as other platforms.
Coinigy is an automated cryptocurrency signal used for the trading of cryptocurrency. It allows you to trade the greatest of 45 crypto coins on its system. Coinigy's teams are made of professionals dedicated to ensuring that their users have the best experience while using their platform.
Coinigy stores its user's information on a cloud platform and uses 2-factor authentication as an extra layer of security. Also, it uses SSL protection to protect user information online.
While the platform is not free, it provides 30 days of free access to registered users. Its pro version comes at $15 and offers unlimited trading which makes it cheap and affordable.
Pros of Using Coinigy
- It offers unlimited supports
- Funds are well protected as they are not deposited on the platform
Cons of Using Coinigy
- It is considered expensive as it offers lesser features than other platforms.
Mycryptopedia telegram group (MYC signals) is one of the leading signal providers in the world. They have more than 32,000 users who have incorporated their signals into their trading bots to carry out automated trading for them.
Mycryptopedia boasts of more than 300% return on investment for their investors. Not only do they provide signals, but they also release learning materials that will develop their strategies to back up the trade signals they give out. Choose Mycryptopedia signals today to receive the best signals.
Click HERE to join the MYC telegram group!