TradeSanta vs Cryptohopper vs 3Commas vs Quadency – A Comparative Study
Crypto trading bots have automatized crypto trading and have simplified trading strategy, minimized risks and losses, accelerated profits, and has benefited millions of users worldwide. The crypto market is highly volatile and operates 24/7 and it hence is difficult for crypto traders to assess the dynamics of crypto trading. Here comes the role of crypto trading bots.
Crypto trading bots are computerized automated programs that help users buy, sell, and trade crypto assets across multiple exchanges through strategic monitoring of the crypto market, evaluates trends 24/7, and minimizes the risks for online trading.
Crypto trading is a full-time job. Today there are several crypto trading bots available in the market. Choosing the right bot can be overwhelming. Here is a comparative guide into four of the best crypto trading bots that will help you narrow down your choice.
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3Commas.io is one of the best crypto trading bots that are available in the market. The Russian software stands out in the crowd for its advanced features and is quite similar to the Haasbot. You can also manage your trading bot through advanced APIs and comes with features like ‘Trailing’ that allows users to finalize trades to maximize the profits.
3Commas operate on several exchange platforms like CEX.io, Bittrex, HitBTC, Binance, BitMEX, KuCoin, Bitfinex, etc.
The trading bot is available at different plans starting from $22 to $79 per month.
Cryptohopper is a cloud-based platform that manages your portfolio, backtest your trading strategy, and customizes them according to the preference of the customers. Cryptohopper offers trading services for more than 100 cryptocurrencies across the world including Litecoin, Ethereum, and Bitcoin. Supported exchanges at Cryptohopper are Bittrex, Binance, Kraken, Coinbase Pro, KuCoin, Huobi, Cryptopia, etc.
The trading bot interface allows users to manage their trading accounts and funds from one place. They can also discuss and buy trading strategies and sign for trading signals. Trading at Cryptohopper is absolutely risk-free and offers more than 130 indicators with a 24/7 market survey.
Cryptohopper’s basic plan starts from $19 and may go up to $99 a month.
TradeSanta is an automated cloud-based cryptocurrency trading bot that allows you to connect with popular trading exchanges like Huobi, BitMEX, Binance, Bitfinex, HitBTC, Bittrex, etc. The trading bot comes with an intuitive interface that helps you to choose crypto pairs and trade with them.
Users can set their target profits and use both long and short-term trading strategies and helps to trade large volumes of crypto assets without effecting the price margin. Technical tools like Bollinger signal, volume, and daily filters assess the right time to trade. The TradeSanta app is available on Google Play and Apple stores.
The bot comes with a 5-day free trial with a one-month free basic trial period. The paid basic plans start from $14 and can go up to $70 a month.
Launched in 2018, Quadency is a popular cloud-based crypto trading algorithmic bot. The bot supports many popular crypto exchanges like Kraken, KuCoin, Liquid, Bittrex, Binance, Gemini, HitBTC, Gemini, Coinbase Pro, etc.
The intuitive interface has been designed both for pro and beginner users and helps to monitor and track the trading history. You can also view the prices of your native currencies. The bot also ensures that you withdraw your funds manually for safety and is protected by a two-factor authentication or 2FA process and also a Transport Layer Security or TLS system.
The free basic account at Quadency is free that allows a monthly trading limit of $10,000 and the Pro account will cost you $49 per month or $39 per month if you pay annually.
A Comparative Study between 3Commas.io and Cryptohopper.com
- One of the main differences between 3Commas and Cryptohopper is that 3Commas operate on the DCA or Dollar Cost Averaging tool that helps users to plan trading depending on TradingView algorithms. 3Commas also allows users to trade on multiple coins simultaneously given you have enough funds to invest.
- Cryptohopper on the other handis much advanced than 3Commas and uses advanced candle patterns and indicators like RSI, CCI, Hammer, EMA, Hanged Man, etc. that can be used especially when the market has an upward moving trend. However, these trading features might seem complex for beginners and need constant speculation when the market is down.
- Both 3Commas and Cryptohopper provides automated trading strategies as well as strategies that can be created from scratch. This gives leverage to users to create and customize their own trading algorithms. Unlike Cryptohopper, 3Commas simple automated trading tools and readymade templates for easy trading.
- If you look at the pricing, Cryptohopper’s basic plan starts at $19 compared to $22 of 3Commas. Cryptohopper users can use the free trial for a week that is 7 days compared to 3 days in 3Commas.
A Comparative Study between TradeSanta and Cryptohopper
- One of the main drawbacks of TradeSanta is that unlike Cryptohopper the trading bot does not support popular exchanges like KuCoin or Kraken.
- Another feature of TradeSanta is that it is an active member of the Telegram community that automates crypto trading around the majority of the platforms and saves time.
- TradeSanta unlike Cryptohopper is not an open-source platform and is mostly suitable for beginners and does not support arbitrage tools.
- Cryptohopper comes with a 7-day free trial which is definitely an advantage over TradeSanta which offers a 5-day free trial. However, the basic plan at TradeSanta starts at $14 compared to $19 of Cryptohopper.
A Comparative Study between 3Commas and Quadency
- While 3Commas may be slightly overwhelming for beginners, Quadency solves the problem by providing all-in-one crypto trading solutions under one platform. The simple interface is a win-win solution for amateur traders.
- The basic account in Quadency is absolutely free. However, users have to upgrade to the Premium account for investing more than $10,000 at Quadency. In comparison, the free plan at 3Commas will allow users to trade cryptocurrencies not more than $750 at a time.
- The Quadency dashboard appears to be lighter, intuitive, and easy to use especially for new users compared to 3Commas.
- Quadency also allows automated up-gradation to its Premium account for free.
There is no doubt that bot trading has made cryptocurrency trading more profitable, less time-consuming, and minimizes risks, especially for new crypto traders. There are several crypto trading bots available in the market today, and choosing the right one can be tricky. Our list of crypto trading bots has a mix of unique technical features that attracts veteran traders as well as new traders who are just venturing into the market.
Some of these trading bots like Quadency come with an appealing free basic plan that allows traders to trade up to $10,000 while others like 3Commas offer automated bot services that start just at $37 a month. Again, TradeSanta comes with a unique feature that helps traders to take extra orders, especially during market fluctuations to make extra profit and cover up the losses. If you are looking for a market-friendly trading bot, then Cryptohopper is the right choice with expert tools and does not require any coding knowledge for operation.
Each trading bot comes with its own unique features, advantages, and disadvantages. Ultimately, choosing the right trading bot solely depends on the decision of the traders. However, it is always advisable to try out the free plans before investing in the paid subscriptions of the trading bots.