As you are aware that the crypto markets are highly volatile, it becomes challenging for crypto traders to respond to the drastic price changes in the market effectively. In such situations, using crypto trading bots can help you save time and effort. Here in this article, I’ll let you know about the 5 Best Bybit Trading Bot.
Table of Contents
What are Crypto Trading Bots?
Crypto trading bots are automated trading programs specifically designed to execute trade activities related to crypto on behalf of investors. These bots can make intelligent investment decisions upon closely studying the crypto market conditions, including current prices and volatility rates.
What is Bybit?
Launched in March 2018, Bybit is one of the most reliable and recommended platforms for the spot and derivative markets, founded by CEO Ben Zhou.
With over 5 million registered users on the platform, you get to explore more than 100 assets in the spot market. No transaction fee for Bybit P2P exchanges. Further, you can create sub-accounts to enjoy API trading & OTC lending on the ByBit VIP program.
Also read, A Guide to Bybit Margin Trading
3Commas: 1st Best Bybit Trading Bots
Launched in 2017, 3Commas is an all-in-one platform designed to stabilize crypto earnings. It is an intuitive platform that is simple and reliable to use. With more than 20 trading features, 3Commas is supported on the 18 biggest exchanges, including Binance, Kucoin, and Coinbase.
3Commas offers plans for free, starter, advanced, and pro levels. The best thing is that all the plans are commission-free with no hidden charges.
Further, 3Commas Wallet is owned by the platform and trades in 45 significant cryptos. One can easily buy, send, store or exchange cryptocurrencies with a wallet service.
Additionally, 3Commas offers a comprehensive and flexible technical analysis platform with more than 100 indicators. The mobile application is available for both iOS and Android users. Moreover, you can contact support teams across platforms such as Facebook, Twitter, and telegram.
To learn more, read the 3Commas Review.
Pros and Cons
|Easy-to-use framework for built-in trading bots.||No historical backtesting support.|
|Mobile app support for iOS and Android users.||Lacks third-party bots and signal providers through a public marketplace.|
|Enjoy decentralized liquidity aggregation with DeCommas.||No profit review feature.|
Coinrule: 2nd Best Bybit Trading Bots
Coinrule was launched in 2018 by CEO Gabriele Musella and COO Oleg Giberstein. Coinrule is a novice and safe platform for automated trading purposes for beginners. It is a Legal toolbox that supports more than 10 popular exchanges, including Binance, Coinbase Pro, Kraken, etc.
In addition, it’s best suited for traders with no prior coding knowledge. You can create your own rules and manage your portfolio free on Coinrule. To learn more, read the Coinrule Review.
Pros and Cons
|Beginner friendly, easy-to-use platform.||Trading indicators are limited to selective exchanges for now.|
|Uses data encryption and Cloudflare CDN to protect against DDoS & other types of attacks.||Currently available as a web platform only.|
|No prior coding skills are required to formulate strategies.|
|Automatic trading strategies based on “If-This-Then-That” principles.|
|Prompt execution of orders.|
|Takes only 500 ms to reach the market|
HaasOnline: 3rd Best Bybit Trading Bots
Founded in 2014, HaasOnline is a widely used automated crypto trading platform that leverages integrations through APIs. From exploring crypto trading bots to advanced API access to fetch reliable market data, Haasbot has so much to offer.
HaasOnline products and technology include –
a) HaasOnline Cloud – no need to download software, cloud management service
b) HaasOnline TradeServer – privacy-focused, on-premise solutions for enterprises
c) HaasScript – automated crypto trading language designed for HaasOnline
These quick and powerful products allow traders to perform advanced crypto trading without compromising privacy. With customized HaasBots, you can trade freely across 20+ exchanges using preferred strategies. To learn more, read the Haasonline Review.
Pros and Cons
|Being a non-custodial trade bot, Haasonline keeps your wallets secure.||Not beginner-friendly.|
|Make automated limitless strategies.||Premium pricing on all plans.|
|Integrates well with multiple exchanges.||High technical restrictions.|
Margin.de: 4th Best Bybit Trading Bots
Margin is a powerful trading terminal co-founded by Jonathan Maycock and Christof Elbrechter in 2014. The platform is exclusively designed for bitcoin and cryptocurrency traders and offers an in-built python strategy editor to write their own rules.
Margin provides some cool features, including a customizable interface, intuitive bots, and arbitrage explorer. Plus, it also gives various payment options like VISA, Mastercard and PayPal.
Margin has no access to users’ funds. Further, to enable orders, margin connects directly to the exchanges. Only a quarter of a two-part API key pair – hashed and encrypted- is stored on the server for security purposes.
You can sign up on the website to try a free demo feature. Overall, the margin website is easy-to-use, compatible, and secure for crypto trading.
Pros and Cons
|Trusted by bitcoin and cryptocurrency traders.||It is not a cloud-based service.|
|Offers various payment options – VISA, Mastercard, and PayPal.||Future trading bots are not supported, offers only manual trading.|
|Safe and secure as it does not store users’ funds.|
Tuned: 5th Best Bybit Trading Bots
Tuned is a fully integrated strategy development and exchange management platform established in 2018 by Alkarim Nasser and Anurag Gulati. The global industry-leading platform, Tuned, is known for its high-edge performance and is supported in 95 countries.
It is specially designed for technical traders, and it provides an end-to-end operating system to enable fast, secure, and reliable trade execution.
Pine Script and Tuned Script are the two main script editor languages on the Tuned platform that can be used to create powerful strategies and run them across the largest exchanges.
Further, it also offers a smooth trading view to keep track of the market data in real-time. More than 1 Million + trades have been executed on Tuned successfully. The Tuned mobile app is available for both iOS and Android users. The help support is available 24/7, and the community can connect on platforms like Discord, Twitter, and Facebook.
Pros and Cons
|Most suitable for technical traders and investors.||Supports limited exchanges including – Binance Spot, Binance Futures, ByBit Futures, FTX Futures, Coinbase Pro, BitMEX Futures, Kraken Spot.|
|Provides a smooth trading view and tracks real-time market data.||Might share personal information with third-party service providers.|
|Connect to the biggest Tuned Community on discord.||No information about adopted security measures.|
Without any doubt, automated trading bots prove to revolutionize the traditional way of trading as these bots have overcome the weaknesses like emotional risk, biasness, and risk of failure faced while trading manually. The above-mentioned 5 trading Bybit bots truly offer a high-level, seamless trading experience with advanced tools and strategies that will make you a pro-trader in the crypto arena.
Frequently Asked Questions
Is Bybit legal in the US?
Due to strict regulations imposed on the trading of crypto in the US, Bybit is currently not accessible by US citizens.
Can you suggest some beginner-friendly trading bots for Bybit?
If you are a novice trader, you can go for Coinrule, 3Commas or Margin. These platforms can be used by anyone as they offer a very simple and easy-to-use platform.
What is a GRID trading bot? How does it work?
A GRID trading bot automatically buys and sells a token when a suitable market condition is met. The goal is to maximize profit by arranging a grid of orders in a given range.
Steps to launch a GRID Bot :
– Choose a coin and your investment amount.
– Set a band size in which your bot will purchase and sell.
– Adjust your strategy for maximum profit.