Have you been searching for a free crypto trading bot? Leveraging the volatility of cryptocurrency is no easy feat. Mainly because market psychology has a large role to play in the decision-making process we all go through. Fortunately, there is a way to sleep on your cryptos while they are being traded algorithmically. Theoretically, you can set up the bots to avoid making a loss panic-selling or FOMOing (Fear Of Missing Out). That way, again, in theory, whether the markets go up, or down, you're capitalizing on them. Unfortunately, there are considerable risks, except if you can develop your own bot. That is because you use a third-party service in the blockchain (check the disclaimer at the bottom of the article for more info).

Furthermore, if you're looking into free crypto trading bots, you should be wary of the reason they are offering you the intended service. There are numerous legitimate cryptocurrency trading bot suppliers. The intention behind the free service must be easy to notice. If however, the motive for the free crypto trading bot is not easily visible, we recommend you stay far away. Here are some options that we have found, with a quick elaboration on what they offer, and how to use them.

Kucoin Exchange - Free Crypto Trading Bot

Kucoin is broadly recognized as a centralized crypto exchange. As such, they wish to increase the number of trades that happen on their platform to maximize their profits. Whether or not you're running a bot to perform your trade, Kucoin capitalizes on the trading fees. Kucoin was also the first cryptocurrency exchange to enable its users to trade using their crypto trading bot for free. This boosted the volume of their exchange and allowed people who used the platform to quickly and easily set up a trading bot. Here is an in-depth guide to the kucoin trading bots.

Grid Cryptocurrency Trading Bots

If you're looking to trade futures using a bot, you can use their futures trading bot. To set it up, start by selecting either "Auto" to have Kucoin set up the trading bot for you, and set the amount you wish to invest under "Investment (Margin)". Alternatively, you can customize the bot using the "Customize tab". If you do not know what each function does, don't worry you can read our ultimate guide to setting up a Kucoin trading bot.

Alternatively, Kucoin also offers spot grid trading bots, the layout is very similar, the difference is that the trades are unleveraged. Thereby, the risk is further reduced. "Spot Grid" trading offers you to create a trading bot between two price variables. Then the bot automatically places orders to purchase until the lower price and sells until the upper price. Therefore, if the markets move out of the range, you will only end up holding one asset. If above the range, only dollars, if below, only crypto.

Smart Rebalance

Lastly, Kucoin offers "Smart-Rebalance" bots. These bots automatically re-adjust your selected crypto portfolio based on violent price swings. This bot essentially bets that the cryptocurrencies selected, will have a co-related price in the long term. However, it banks on having these cryptos' prices move back and forth. As long as the prices of the selected cryptocurrencies end up reaching a similar value to what they initially were when setting the bot up, or all are higher in value, you're officially in profit. Yet, if they de-peg from your initial values, or go to zero, you can lose the funds deposited in the bot.

To add cryptocurrencies simply select "Add Coins", once selected, you can navigate through the "Equal", and "By Marketcap" or have the Kucoin AI select the distribution across your selected cryptos. Alternatively, you can select and input your own values by clicking on the right of the crypto you wish to change.

Third-Party Service Providers

There are various other options such as Bitsgap, which is a third-party tool to trade on your Binance account. We will not discuss this bot in too much detail, due to the obvious risks of giving a third-party access to your Binance account. Furthermore, this platform is a paid service, with a 7-day free trial. However, it is important to note the vast possibilities in trading bots. It is also important to mention that it is offering a service that Binance does not yet offer themselves.

Another famous third-party trading software is called 3 commas. It also comes with a 3-day free trial period, after which, plans start from 30$/ month. However, 3commas also offers a free plan with One "Active SmartTrade Bot", one "DCA" bot, one "Grid" bot, and one "Options" bot. 3commas is known for being one of the first, and most professional free crypto trading bot software. Again, it is a third-party service.

The nice part about their platform is the capacity to copy other people's profitable bots. This allows you to quickly and easily set up your own bot. Even if you're lacking the knowledge and education in the space, simply copy a bot of a performer that you trust. Furthermore, the onboarding, user interface, and user experience are extremely pleasant.

Disclaimer

When using financial products or services it's always important to DYOR. Furthermore, this article gives you insights into tools that are often used by the broader community. However, usage does not make a particular product or service safe to use. It's important to understand the risks when operating with non-blockchain products or services. Using a third-party crypto trading service may result in the loss of your funds. As you have given third-party access to your centralized exchange account. Lastly, keeping your funds on a centralized exchange is never recommendable. This article is meant for educational purposes only, as such tread lightly and at your own risk when trading with trading bots.