Crypto trading bot is now getting more and more popular for crypto traders. Various trading bot providers already existed on the market, making it difficult for traders to choose which one to start with. Which is the best crypto trading bot? In this article, we compare 3Commas vs Pionex vs Cryptohopper to see which is the best.
How does Pionex work?
Pionex is the exchange with the in-built crypto trading bot. It might be a bit confusing to you, why does the exchange have trading bot within itself? I got this question to myself at the very beginning too.
After digging deeper into it, I found it’s more a broker than an exchange. Cause it aggregates the liquidity from Binance and Huobi, so it can focus on how to assist their users with the trading tools.
For using Pionex, you need to deposit your coins in it. I’ve done some background research on this company and found that it’s invested by several traditional venture capital with 10 Million USD (Search BitUniverse, it’s the same team). So this is the by far the most reputable service backed by trust-worthy VCs.
Pionex provides nine trading bots to its clients. It’s simple and easy to use, and they also offer AI parameters for the newbie to set up the bot. (according to the backtesting data)
- GRID Bot (Grid Trading Bot) — GRID Bot is the rising star between several crypto trading bots. It’s an old but powerful trading strategy which profits from the fluctuated market. All you need to do is to set a range for it, and it’ll help you to automatically “buy low and sell high” within the region.
- Infinity Grids Bot — While using GRID Bot, you might missed the trending profit when the price pump. And that’s the time Infinity Grids Bot stand out. Infinity Grids Bot is similar to GRID Bot but without an upper limit. It still helps you to “buy low and sell high‘ 24*7, but that portion of the funds is relatively small compared to GRID Bot.
- Leveraged Grid Bot — Combining GRID Bot with a crypto-loan feature is how exactly the Leveraged Grid Bot work. The whole concept is still the same as GRID Bot, but with leverage (up to 3x), you can earn more profit with your principle. BUT! Leveraged also means that there’s a chance for liquidation, mind the risk before using it.
- Margin Grid Bot — Similar to Leveraged Grid Bot, but the collateral won’t involve the Grid Bot in Margin Grid Bot. You can also choose LONG or SHORT while using Margin Grid Bot.
- Reverse Grid Bot — Reverse Grid Bot is a smart strategy to increase your quote amount with the grid trading strategy. It sells your Bitcoin at a higher price and repurchases them at a lower price.
- Leveraged Reverse Grid Bot — Combining Reverse Grid Bot with a crypto-loan feature will get Leveraged Reverse Grid Bot. Same functionality as Reverse Grid Bot, but you can use leverage to earn more profit. Still, mind the risk for the liquidation while using leverage trading.
- DCA Bot (Dollar-cost averaging) — Dollar-Cost Averaging is a useful tactic to invest in the crypto market. You can set the period for your DCA plan, and the bot helps you to DCA rather than do it manually.
- Trailing Take Profit Bot — Trailing Take Profit is one of the well-known strategies. Cause the volatility market in the cryptocurrency market, and it’s tricky and easier to use a TTP bot for scalping.
- TWAP Bot — If you’re a whale, then you should be familiar with the TWAP method. It helps you to accumulate or sell your bags in a period of time.
The trading bots on Pionex are free of charge. It’s an exchange, so it charges a trading fee just like others. The trading fee is 0.05% for both maker and taker; this is by far the cheapest fee in the major exchanges.
How does 3Commas work?
For using 3Commas, you need to get your API Key from the crypto exchange. Here’s the list of its supported exchanges.
- Binance (Smart Trade, Portfolios, AutoTrading Bot)
- Coinbase Pro (GDAX) (Smart Trade)
- OKEx (Smart Trade, AutoTrading Bot)
- KuCoin (Smart Trade)
- Bitstamp (Smart Trade)
- Bittrex (Smart Trade, Portfolios, AutoTrading Bot)
- Poloniex (Smart Trade, Portfolios)
- Bitfinex (Smart Trade)
- Houbi Global (Smart Trade, AutoTrading Bot)
- Gate.io (SmartTrade)
- HitBTC (Smart Trade)
- Bitmex.com (AutoTrading Bot)
- Kraken (SmartTrade)
As you can see, they support different features for different exchanges. So better check that before using it.
- SmartTrade — SmartTrade is the most popular feature in 3Commas. The SmartTrade feature allows you to set up several trade parameters, and the 3Commas cloud-based platform will help to execute the orders while the market condition matches your settings.
- Bots — With access to 3Commas automated trading bot, it’ll execute the order once you start the bot. There’s a new bot called GRID Bot, and it helps you to automatically buy low and sell high in a specific region. You can tweak the parameters of each bot, check it out by yourself, and test it before using huge funds.
3Commas provides three different kinds of subscription plans for its users. Traders can subscribe month by month or subscribe for an annual subscription, which is cheaper if you plan to use it for more than a year.
All plans include the following features:
- 23 supported exchanges
- Multi-level referral program
- Public API
- Single portfolio for different exchange accounts
- Paper trading
- The STARTER Plan — 3Commas charges $29 per month for the starter plan. With this plan, traders can use 3Commas as their trading terminal and futures trading. The smart trade feature lets you set some conditions for sell and buy. This is a good start for traders who want to try the 3Commas trading tool.
- The ADVANCED Plan — 3Commas charges $49 per month for the advanced plan. This is where your automated trading life begins! You’re free to use several trading bots with the advanced plan with 3Commas, Simple Bot, Short Algorithm, Long Algorithm, and View and Copy Bots from other traders!
- The PRO Plan — 3Commas charges $99 per month for the PRO plan. You can access all the features on 3Commas, including the GRID Bot, Bot on Bitmex, Binance Futures, and Bybit. If you’re a futures player, then the PRO plan is a must for you.
How does Cryptohopper work?
Cryptohopper is a cloud-based trading bot platform. So it’s necessary to connect your exchanges’ API Keys with it before using it. Here are its supported exchanges:
- Coinbase Pro
One of the best features in Cryptohopper is that you can easily copy the trading bot template from other traders. Cryptohopper is more flexible, which you can tweak each order type with TAs. On the other hand, flexible means it’s more complicated for newbies.
- Cryptohopper provides Backtesting, Trailing Features, Stop-Loss, Auto-Close, Take Profit, Shorting, and DCA. Most of these features you should already know how it works, but there are three trading bots that I’d like to address with more paragraphs.
- Exchange Arbitrage — The Crypto Trading Bot helps you to arbitrage between different exchanges on the same trading pair.
- Triangular Arbitrage — Triangular Arbitrage helps you to increase the amount of one coin in the exchange. It detects the arbitrage opportunity between three pairs, let’s say BTC/ETH, EOS/ETH, EOS/BTC. It’ll go like the following: Sell BTC for ETH, buy EOS with ETH, and then sell EOS for BTC.
- Market Maker Bot — The Market Maker Bot profits from the spread between the bid and ask. It’s better to use the Market Maker Bot with the low liquidity trading pairs because the spread will be larger and more room for market-making profit.
Cryptohopper provides four packages for their clients. Traders are allowed to subscribe month by month or subscribe for an annual package, which is cheaper if you plan to use it for more than a year.
- Pioneer Package — You can use Cryptohopper for free. But the feature is limited to portfolio management and manual trading. It’s more a trading terminal in this package.
- Explorer Package ($19 per month) — 7 days of free trial was provided in the explorer package. The TA scan interval is 10 minutes, and the plan gives you the ability to manage 80 positions chosen from up to 15 coins.
- Adventurer Package ($49 per month) — The adventurer package gives you the ability to manage 200 positions and lets you trade between 50 different coins. The interval for TA scanning is 5 minutes in the package.
- Hero Package ($99 per month) — This is the premium package in Cryptohopper, which lets you enjoy all of the features. You can use Triangular Arbitrage bot and market-making bot only in this package.
3Commas VS Pionex
The best part of the 3Commas trading bot is that it lets you set lots of different parameters and special orders. So if you have your own trading strategy in your mind, then it’s a good idea to try 3Commas first. Combining those special orders and conditions, you can build up your own trading strategy.
Pionex provides trading bots for free, that’s the core competitiveness compared to 3Commas. The most famous bot on Pionex is the GRID Bot and several other GRID Bots for different market conditions. 3Commas charges $99 per month for the GRID Bot feature, so if you’re here for the GRID Bot, it’s better to use Pionex instead. The UI of the Pionex website and mobile App is a lot better than 3Commas.
Pionex VS Cryptohopper
In Cryptohopper, there’s a marketplace where you can copy other users’ strategies. Using the Cryptohopper backtesting tool and check out the performance of the strategy before using it. This helps its users to reduce the trading risk.
Still, Pionex offers some of Cryptohopper’s cool features for free. Such as the DCA Bot. It’s the most common strategy for the investors in crypto or traditional market.
3Commas vs Pionex vs Cryptohopper: Conclusion
If you’re new to the crypto trading bot and willing to give it a try, then you should use Pionex or the free trial on 3Commas and Cryptohopper first! There’s no single bot that fits every type of trader. The first thing you should do is to learn the concept of each trading bots provided by Pionex, 3Commas, and Cryptohopper. Each trading bot has its own strength.
Second, don’t fall into the “expensive is better” myth. An expensive trading bot doesn’t mean that you’ll earn more profit from it; for example, if the starter package is enough for you, there’s no need for you to purchase the PRO package. On the other hand, a cheap or free bot doesn’t mean the performance would be terrible.