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The 10 Best FREE Crypto Trading Bots in 2024

Cryptocurrency trading bots have become increasingly popular as more people look to automate their trading and take advantage of market opportunities.

Photo by Ant Rozetsky on Unsplash

While paid bots offer advanced features, free crypto bots can be a great way for beginners to get started with algorithmic trading.

In this article, we will explore the top 10 best free crypto trading bots in 2024 based on key factors like functionality, ease of use, community support and more.

What Are Crypto Trading Bots?

A crypto trading bot is an automated software program that buys and sells cryptocurrencies on your behalf. The bot uses indicators and algorithms to analyze the market and place trades based on predefined parameters.

Trading bots can react to market movements faster than humans and make decisions free of emotion. This allows users to implement consistent trading strategies and take advantage of volatility in the crypto market.

Bots offer a hands-off approach to trading but require monitoring and adjustment as market conditions change. Paid bots usually offer more advanced options and support, while free bots are more limited but provide an easy entry point for new users.

Benefits of Free Crypto Trading Bots

Here are some of the main benefits of using a free crypto trading bot:

  • Requires little to no upfront investment — Free bots eliminate the financial barrier to entry of paid alternatives.
  • Pre-configured trading strategies — Most free bots come with basic trading strategies already configured to get you started.
  • Easy setup and use — Free bots typically have simplified options and an intuitive interface ideal for beginners.
  • Experiment with automation — Test if algorithmic trading works for you without spending money.
  • Access to community support — Many free bot projects have active user communities for guidance.
  • Customizable options — Some free bots allow you to modify strategies or technical indicators to suit your preferences.

While lacking some of the advanced functionality of paid platforms, free crypto bots remain a viable option for exploring automated trading.

Top 10 Best Free Crypto Trading Bots for 2024

Based on ease of use, features, community support, and more, these are the top 10 best free crypto trading bots for 2024:

1. 3Commas

3Commas is the most popular free crypto trading bot with over 500,000 users. Users can access the SmartTrade terminal with basic automated trading features and paper trading to backtest strategies.

Key Features:

  • Cloud-based bot runs 24/7.
  • Automated trading with multiple orders and safety features.
  • Paper trading, cryptocurrency portfolio, and basic charting.
  • Mobile app for Android and iOS.
  • Integrates with exchanges like Binance, BitMEX, KuCoin.

With free access to SmartTrade, 3Commas provides an easy on-ramp to crypto bot trading.

2. Cryptohopper

Cryptohopper offers a feature-packed free crypto trading bot. Users can implement technical indicators, triggers, trailing stops, and use a paper trading simulator.

Key Features:

  • Cloud-based bot with online dashboard.
  • 130+ technical indicators and candlestick patterns.
  • Trigger trading actions based on indicator signals.
  • TrailMe feature trails stops to lock in profits.
  • Integrates with 12 major crypto exchanges.
  • Mobile app for monitoring.

Cryptohopper gives free users strong technical analysis tools and backtesting capabilities. The free plan also allows full bot functionality with exchanges like Coinbase Pro.

3. Zenbot

Zenbot is an open-source command-line crypto trading bot. Since the code is public on GitHub, users can inspect and customize strategies to suit their needs.

Key Features:

  • Free open-source software works on Windows, Mac, Linux.
  • Supports multiple crypto exchanges — Gemini, Poloniex, etc.
  • Preset and custom trading strategies.
  • Simulator for backtesting strategies against historical data.
  • Triggers for buy/sell signals, stops, etc.

For developers and technically-savvy traders, Zenbot offers full customization potential for free. The active GitHub community also provides guidance.

4. TradeSanta

TradeSanta provides a customizable cloud-based free trading bot for Binance and HitBTC. The free plan supports unlimited bot pairs and all order types.

Key Features:

  • Automated bots with multiple triggers and safeties.
  • Paper trading simulator to test strategies.
  • Option to create simple or complex bots.
  • Integrated technical analysis tools.
  • Capable mobile app.

With comprehensive bot building options and an intuitive interface, TradeSanta is one of the top free crypto trading bots.

5. NapBots

NapBots offers crypto trading bots with a free starter plan. The cloud-based platform supports automated trading with multiple exchanges like Binance, Kraken, and Bitfinex.

Key Features:

  • Intuitive drag and drop bot creation.
  • Analyze bot performance with backtesting data.
  • Configurable technical indicators and safeties.
  • Start with premade sample bots.
  • Collaborative community to share bot strategies.

NapBots make it easy to create, test, and run free crypto bots for automated trading.

6. Shrimpy

Shrimpy provides portfolio automation for free rather than trading bots. Users can automate rebalancing across any number of coins and exchanges.

Key Features:

  • Automatically rebalances crypto portfolio allocation.
  • Choose from preset index allocations or customize your own.
  • Schedule rebalances for any timeframe — hourly, daily, weekly, etc.
  • Integrates with all major exchanges via API keys.
  • Simple allocation selection and setup.

Shrimpy is the leading free crypto portfolio automation tool. The premium features focus on advanced backtesting capabilities and developer tools.

7. Hummingbot

Hummingbot is an open source trading bot for decentralized exchanges like Uniswap. It uses a command-line interface and supports Python scripting for customization.

Key Features:

  • Open source software works on Windows, Mac, Linux.
  • Liquidity mining with market making bots.
  • Arbitrage bots capitalize on price differences across exchanges.
  • Configure custom trading and operation parameters.
  • Detailed documentation and active Discord community.

For free Hummingbot offers automation capabilities for liquidity providers and arbitrage traders in the decentralized exchange ecosystem.

8. Kryll.io

Kryll.io offers a free tier crypto trading bot accessible through its online platform. Users can utilize basic technical indicators and set actions for buy/sell signals.

Key Features:

  • Online dashboard to manage your trading strategies
  • 130+ indicators — RSI, Ichimoku, MACD, Bollinger Bands, etc.
  • Ability to purchase strategies designed by other users
  • Limited exchange integration with free plan
  • Mobile apps and REST API available

Kryll.io gives free users a straightforward way to create crypto trading bots visually without needing to code.

9. Quadency

Quadency provides advanced trading bots starting with a limited free plan. The platform supports paper trading and integrates with exchanges like Coinbase Pro and Binance.

Key Features:

  • Automated trading bots with backtesting
  • Premade bot templates for beginners
  • Portfolio tracking across wallets and exchanges
  • Some technical indicators available on free plan
  • Mobile app for iOS and Android

For more advanced traders, Quadency offers a taste of its trading bots capabilities for free. The paid plans unlock more features and exchanges.

10. Bitsgap

Bitsgap offers a web-based interface to create free crypto trading bots. The platform provides basic automated trading features with bots that can execute market and pending orders.

Key Features:

  • Automated trading bots with stop loss
  • Grid bots — buy low and sell high
  • Paper trading feature to test strategies
  • Integrates with most large exchanges
  • Some charting and visual bot analysis
  • Mobile app for iOS and Android

Bitsgap provides retail traders a user-friendly way to get started with crypto trading bots for free. But advanced functionality requires paid plans.

How To Choose The Best Free Crypto Bot

With many options available, here are some tips for selecting the right free crypto trading bot:

  • Supported exchanges — Make sure the bot integrates with the exchanges you use for trading.
  • Ease of use — Look for an intuitive interface to configure trading settings and bot options.
  • Community support — An active user community provides guidance for troubleshooting and updating bots.
  • Customizability — Some developers may prefer open source bots that allow full customization.
  • Trading features — Compare technical indicators, safeties, backtesting capabilities and other trading tools.
  • Security — Free bots should use proper security practices like encrypted connections. Avoid bots requesting exchange API keys.

Also decide if you simply want portfolio automation, or manual/automatic trading capabilities before choosing a free bot.

Risks of Using Free Crypto Trading Bots

While free crypto bots provide great options for new traders, they do come with certain risks and downsides:

  • Limited features — Free bots lack some advanced functionality found in paid alternatives. May miss out on profitable trading opportunities.
  • Reduced support — Some free bot providers offer limited user support and updates compared to paid plans.
  • Security flaws — Open source trading bots carry security risks if not properly vetted. Closed source free bots may also have issues.
  • Over-optimization — It’s easy to overfit strategies to historical data. Always test strategies before using with real funds.
  • Coding errors — Bugs in the trading logic can lead to losing trades or missed opportunities. Thoroughly backtest bots.
  • Missing key features — Some free bots may not have trail stops, DCA, or other useful features.

Free crypto trading bots serve as a stepping stone to evaluate automated trading, but users should be cautious and avoid risking significant capital without doing proper due diligence.

Get Started With a Free Crypto Trading Bot

Photo by Art Rachen on Unsplash

Here are the key steps to start exploring automated crypto trading with a free bot:

  1. Decide your exchange — Select one or more exchanges like Binance, Coinbase Pro, Kraken, etc.
  2. Pick a free crypto bot — Choose a bot that integrates with your exchange and has features you need.
  3. Set up exchange API — Create API keys with read/trade permissions for your exchange account.
  4. Configure bot settings — Connect exchange API keys and adjust trading parameters — indicators, safeties, etc.
  5. Run paper trade — Use a simulator before running bot with real funds.
  6. Start small — Run the live bot in the cloud with minimal funds to test.
  7. Monitor performance — Check bot regularly and disable if issues arise.

With the right expectations and precautions, these free crypto trading bots can assist you in gaining valuable experience with algorithmic trading. Avoid overtrading, manage risk, and use proper security practices as you would for regular crypto trading.

The Future of Free Crypto Trading Bots

Free crypto trading bots have opened algorithmic trading to retail traders and expanded adoption. Advancements in artificial intelligence and machine learning are unlocking new potential as well:

  • Sophisticated trading algorithms — AI and neural networks can model complex trading strategies and analyze sentiment.
  • Enhanced security — AI can help identify and prevent suspicious login attempts and thwart attacks.
  • Accelerated strategy building — Machine learning will allow bots to adapt strategies faster based on changing market dynamics.
  • More platforms & integrations — Trading bots will spread across brokerages, exchanges, DeFi platforms and more.
  • Comprehensive portfolio automation — Bots will be able to automate full portfolio management encompassing trading, lending, staking and more.

Trading bots are democratizing algorithmic trading, allowing anyone to leverage automation for crypto markets. We expect the capabilities of free bots to expand dramatically in coming years.

Conclusion

Trading bots can remove emotion and manual effort from crypto trading while improving speed and efficiency. And free crypto trading bots now provide easy access for retail traders to get started with algorithmic trading.

We looked at the top free crypto bots in 2024 based on functionality, ease of use, security, and community support. Options like 3Commas, Cryptohopper and Zenbot offer capabilities like paper trading, preset strategies, customizable automation, exchange integration, and more — despite being free.

However, free crypto bots do carry some risks around security, support and features. So proper precautions are necessary, like backtesting, starting with small amounts, and monitoring bot performance.

Used responsibly, the best free crypto trading bots can assist traders in executing consistent strategies and finding opportunities in the growing digital asset markets. The possibilities will only expand further as artificial intelligence and machine learning transform these tools.

So if you’ve ever considered leveraging automation in your crypto trading, start exploring free crypto trading bots to evaluate if algorithmic solutions suit your needs.

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Cryptocurrency
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