Best Crypto Trading Bots in Australia in 2023
Ever since cryptocurrencies have emerged as a viable trading commodity, seasoned investors have been developing strategies and solutions to maximise their returns on winning trades. One of these innovative solutions is the use of automated trading bots, a relatively new development in the blockchain ecosphere.
Even though trading robots have been widely used in traditional financial markets like forex and stock exchanges, their usage in the crypto space is a relatively new trend. Automated trading bots make it possible for cryptocurrency investors to trade automatically according to set parameters. As the cryptocurrency market is open around the clock, automated trading technology is in high demand.
Nowadays, you can find many crypto trading bots on the market, some of which are free while others require payment. I’ve done the groundwork on the best automated trading solutions on the market, so you can focus your energy where it belongs – on making the most of your crypto trading robots.
The crypto trading bot fundamentals are up next.
Best Crypto Trading Bots in Australia
- Bybit – Overall Best Crypto Exchange Offering FREE Bot
- Pionex – 16 FREE Trading Bots Suitable for Beginners
- KuCoin – Best for Beginners
- Trality – Best for Creating a Bot
- Bitsgap – Best for Advanced Features
- Coinrule – Best for Demo Trial Trading
- CryptoHopper – Best for Technical Indicators and Day Trading
- TradeSanta – Best for Fee-Free Trading
- HaasOnline – Best for Trading Across Multiple Exchanges
- 3Commas – Best for Dollar Cost Averaging (DCA) Strategy
- Shrimpy – Best for Social Trading and Portfolio Management Services
Table of Contents
Best Crypto Trading Bots in Australia
1. Bybit – Overall Best Crypto Exchange Offering FREE Bot
In addition to being Australia’s most popular crypto trading platform, Bybit also offers its users a free Grid Trading Bot. Whether you are a seasoned pro at trading bots or just getting your feet wet in automated cryptocurrency trading, this bot is a solid option. Bybit’s cryptocurrency trading bot allows you to set trade execution timeframes independently of the bot’s connection to a particular exchange, which I think you’ll find very convenient.
Once you’ve signed up for a Bybit account, the trading bot will prominently display on your dashboard. From there, you can investigate the top-earning robots of the past week or month.
In a matter of seconds, after discovering a Grid Trading Bot that meets your requirements, you can copy its settings and apply them to your trading account by pressing the Copy button. The ByBit bot is straightforward to configure to fit your needs, which is another plus in my book.
Moreover, higher spot trading volume allows you to bargain for lower transaction fees than the standard 0.1% per trade. Bybit’s trading bot is an even better option for high-volume traders, with 0.01% for makers and 0.06% for takers.
2. Pionex – 16 FREE Trading Bots Suitable for Beginners
If you have no prior experience with crypto trading bots, Pionex is your best bet. It is a cryptocurrency trading platform that provides access to more than 300 different coins and 16 automated trading robots at no cost.
As everything is already integrated into the exchange, Pionex is an excellent choice for beginners because you needn’t worry about syncing your bot with the trading platform. In addition, there are a plethora of guides to assist you in learning about the diverse bots and picking the ideal one for your trading objectives.
The 16 available bots on this Singapore-based crypto exchange are all excellent, but the fact that creating an account and using them costs nothing is even better. While trading costs are a fact of life on any cryptocurrency exchange, Pionex’s are exceptionally cheap at just 0.05% per trade.
- Top pick for newbies;
- 16 free trading bots;
- Supports leveraged trading;
- FinCEN licenced exchange in the US;
- Built-in trading bots supporting stop limit, grid trading, and dollar cost averaging strategies.
3. KuCoin – Best for Beginners
If you’re interested in trading bots but lack experience, KuCoin is an excellent place to start because you can learn from the community and build your bot after the ones programmed by the most successful traders.
As a result, your trading bots will mimic their actions and make transactions using the same pre-established parameters. More than eight and a half million KuCoin bots are being used by cryptocurrency traders worldwide, which is a staggering number to me.
The bots don’t cost anything to use; the only expense comes from KuCoin’s minimal 0.1% trading fee. What’s more, you can save 20% off the regular 0.10% fee if you use KuCoin’s native token, KCS.
However, KuCoin is more than just a place to use trading bots. Instead, it is one of the largest global cryptocurrency exchanges, with support for margin and futures trading and more than 600 different cryptocurrencies. The inability to withdraw Australian dollars is possibly KuCoin’s only drawback. Also, withdrawals to a bank account require selling your cryptocurrency on another exchange first.
4. Trality – Best for Creating a Bot
Trality performs exceptionally well as a cryptocurrency trading bot for crypto investors keen on developing their customized bots. Both crypto trading rookies and veterans will appreciate how simple it is to develop as many automated trading programs (bots) as they need.
Any automated trading code you develop on this platform is flexible enough to utilise it with many different approaches and currency pairs. You can even list your bot on the Trality marketplace for rent if you’re interested in earning passive cash from your creation.
However, if you’re just getting started with bots and could use some pointers, you can always just clone existing ones from the marketplace.
If you are a professional developer or a skilled programmer, on the other hand, Trality also provides a Code Editor, Rule Builder for non-coders, Python API features, a debugger, library resources like Pandas, Talib, NumPy, and Tulip, as well as several presets to help you launch your crypto trading bots.
5. Bitsgap – Best for Advanced Features
Bitsgap is my pick for the advanced traders who employ trading bots. A relatively new fintech addition to the market, Bitsgapis a multi-exchange platform that facilitates the trading of crypto assets, portfolio management, arbitrage, trading bots, and extensive charting features, among many other functionalities.
When it comes to turning a profit off every market change, trading bots are an extremely helpful tool for experienced and high-frequency traders. Since this is the case, Bitsgap provides you with not one but three different trading bots: Scalper Bot, SBot, and Trailing Bot.
Into the bargain, Bitsgap’s bot-trading algorithms are built to scan the market for profitable opportunities by analysing 10,000+ crypto pairs per second. The program provides a list of cryptocurrencies that show the greatest progression and allows you to verify whether or not you want to employ the crypto trade signal. In addition, you can place smart orders to reduce exposure to potential losses in such transactions.
6. Coinrule – Best for Demo Trial Trading
Coinrule earned a spot on my shortlist of top-tier crypto trading bots primarily for its ease of use, safety, and interoperability with leading cryptocurrency exchanges. With Coinrule, you can develop an automated trading strategy quickly and easily using one of more than 150 pre-made rules or by creating your own.
Without investing a cent, you can test Coinrule to see whether it meets your needs before upgrading to a paid plan with additional bots and higher transaction volumes. To be more specific, you can put your bot through its paces using the Demo Trading option before deciding whether or not to entrust your real money to it.
The Demo Trading feature is great since it allows you to test the bot’s functionality before investing any money into it while determining whether the premium features are truly worth the cost.
7. CryptoHopper – Best for Technical Indicators and Day Trading
The CryptoHopper bot is another leading choice for crypto trading, and it comes with several valuable features, such as a strategy-building tool. Through this functionality, you have access to over 130 indicators that you can use to customise the settings of your trading bot.
In addition to being very user-friendly and suitable for beginners, CryptoHopper also caters to seasoned traders by providing a wealth of signals, both free and premium, to help them make profitable trades. CryptoHopper’s technical indications make it simple to integrate different trading signals, allowing you to create bots that are both highly accurate and entirely tailored to your needs.
Furthermore, the ability to practise trading with virtual funds sets CryptoHopper apart from its competitors. The paper trading function lets you put your trading robots through their paces without risking any real cash.
For those curious about bot trading or experienced traders who want to test out a new trading technique in a risk-free environment, CryptoHopper’s Paper Trading is an invaluable tool.
8. TradeSanta – Best for Fee-Free Trading
TradeSanta is a cryptocurrency trading bot service that allows you to build and operate your customised bots automatically by connecting your crypto exchange via API key. It works with several of the most popular markets without levying any fee and can be accessed from any Android or iOS-supported device.
To continue, the TradeSanta platform provides developers various resources, such as Bot Templates and a Test Environment. Also, programmers can make money off of their bots by selling them on the Bot Marketplace or by utilising Mirror Trading, which allows users to imitate the trading techniques of more seasoned investors.
Ultimately, TradeSanta’s objective is to make trading bots available to everyone, and they’ve accomplished this by providing a straightforward interface that includes many valuable options. Bots can be easily set up, and you can even employ simulated bots to try out different strategies before putting any real money on the line through this platform.
9. HaasOnline – Best for Trading Across Multiple Exchanges
When it comes to deploying high-frequency cryptocurrency trading bots across multiple crypto exchanges, HaasOnline is one of the most cutting-edge platforms available in the industry.
You can immediately get started trading on your selected strategy on more than 20 different prominent exchanges with the help of HassOnline’s customisable trading bots, which come in a wide variety of pre-built trading algorithms.
In addition to Bitcoin, these bots can handle any other cryptocurrency pair supported by the exchanges you’ve greenlighted. To top it all, the amount of alternative coin pairs you can trade with on the HaasOnline Trade Server is not limited in any way.
10. 3Commas – Best for Dollar Cost Averaging (DCA) Strategy
Although it is a relatively new addition to the range of trading bots offered on the cryptocurrency market, 3Commas is a solid option if you want to automatise your crypto trading strategies.
To mitigate the inherent risk of trading cryptocurrencies, 3Commas employs the Dollar Cost Averaging (DCA) method, which is also one of its most prominent features.
In addition to the DCA trading strategy, 3Commas offers a number of other sophisticated order types to accommodate your trading needs. One example is the trailing stop function, which allows a trader to open and maintain a position while the price of a cryptocurrency is rising but closes the position automatically if the price of the cryptocurrency begins to fall.
I find this feature highly helpful since it allows you to profit quickly from unforeseen upswings in the market, which can occur in a flash.
- Supports a wide range of cryptocurrencies;
- Lets you manage all your exchanges from one platform;
- Supports both automated and manual trading;
- Features the DCA method of trading.
11. Shrimpy – Best for Social Trading and Portfolio Management Services
First released in 2018, Shrimpy.io is an all-encompassing platform for managing your crypto portfolios. It works with more than 30 prominent exchanges and integrates with 13 digital wallets.
Shrimpy does more than just rebalance your portfolio for you; it also lets you build your specialised cryptocurrency index funds, track the trades of other users, and even mimic their strategies. This trading bot eliminates the need to manually log into each crypto exchange and place trades by performing all of these actions on your behalf.
Even if you’ve never traded cryptocurrencies, the Shrimpy platform’s intuitive layout and wealth of cutting-edge trading tools will make trading a breeze. You do not need to worry about the safety of your assets or private keys because the platform is FIPS 140-2 encrypted.
How to Choose the Best Bitcoin Trading Bot in Australia
As long as the trading bot you choose helps you reach your goals, it doesn’t matter if it’s good, better, or the best. The next challenge is how to determine what type of bot best suits your requirements.
Here’s a list of items to consider before making such a significant choice.
Using the win percentage, you can see what percentage of deals have resulted in a positive ROI in the past. If the Bitcoin robot advertises an 80%-win rate, then, theoretically, 800 out of 1,000 deals will be profitable, whereas 200 will generate a loss. However, these success percentages are frequently impossible to be confirmed, and as a result, you cannot rely on them as a trustworthy source of statistical information.
Trading fees are a standard feature with many crypto bots. Therefore, I suggest you get a feel for the range of prices and services offered and make an informed decision on the plans provided by the trading bots.
Moreover, if the trading bot you select does not mesh well with the trading approach you intend to take, and if you subscribe to an expensive plan to employ the bot, you run the risk of incurring losses rather than financial gains.
As a first-time user of cryptocurrency trading bots, you should only risk small amounts of money. That way, you won’t have to worry about taking on a speculative gamble that’s not worth the stakes if something doesn’t go as planned.
Accordingly, the top crypto bots on the market are ones that require a small initial investment.
Why risk losing a large sum of money on an unregulated platform? In fact, security is arguably the most crucial factor to think about when choosing your crypto services. Therefore, if you’re considering investing in a platform, learning as much as possible about its security features is important.
Checking the platform for an SSL certificate is an excellent way to address this issue. Your sensitive data, such as credit card or personally identifiable information, is safe on a domain protected by SSL. If the website has an SSL certificate, a padlock icon will appear to the left of the URL bar in your browser. Keep an eye out for that.
Deposit and Withdrawal Methods
Typically, you can deposit and withdraw funds from a cryptocurrency robot via various payment methods. Due to regulatory differences across nations, not all funding sources are accepted everywhere. Therefore, you should opt for a service that accepts payments in the currency and payment method of your preference.
Undoubtedly, the crypto bot industry is rife with shady service platforms. And besides, guaranteeing revenues or a satisfactory result of 95% on a website is a child’s game, you’d agree. It’s not often that such grand assertions pan out in practice.
However, many crypto bots are trustworthy and open about how they make their money. For this reason, research is fundamental, as it’s the only method to identify reliable sources and avoid scams.
If you wish to trade on a specific exchange, you should verify that it is compatible with and supported by the bot you will use in your trading.
Ease of Use
Some bots already have strategies built in, while others can be fully programmed so that you can use any strategy you want. Whether or not a bot is user-friendly will depend on your trading and programming skills. Therefore, it’s essential to have a firm grasp of the fundamentals before committing to a platform that can automatically execute your trading strategy.
Popular Crypto Trading Bot Strategies
Many different trading approaches can be automated with the help of a bot. Here are some typical methods used with crypto trading robots.
The goal of the market-making technique is to capitalise on price differences between the ask/bid value of cryptocurrencies and crypto derivatives contracts through an ongoing buying and selling process.
Market makers generate revenue by acting as a source of liquidity for other traders, issuing limit orders on both ends of the order book, and banking on the higher selling price variations, i.e. spread, resulting from this activity.
The spread is designed to pay market makers for the risk inherent in these transactions, i.e. the chance that the price will move in a direction that is adverse to the market makers’ trading position.
Arbitrage in the crypto market is a way to profit from the price discrepancies between various cryptocurrency exchanges. As an illustration, one could “flip” Bitcoin by purchasing it on one exchange at a low price and then selling it on another at a higher price.
Expert crypto arbitrage bots monitor price fluctuations and discrepancies across trading platforms, making automatic transactions when they detect a profit opportunity.
The key idea behind the mean reversion method is that the value of a coin follows a discernible pattern. While it’s true that prices can move up or down temporarily, they always find their way back to a more stable average.
With this supposition in place, you can instruct a bot to make transactions based on the current value of a currency relative to its average value over time.
In this method, a bot is programmed to spot upward or downward price movements in a select group of digital currencies and then trade accordingly. More specifically, the technique measures the direction of price movement to identify the trend starting point and capitalise on the consequent price hike. That is, you should invest when prices are rising and liquidate when they are dropping.
How we choose and rank the best crypto exchanges.
We test, review and rate exchanges by looking at their ease-of-use, trading features, customer support, and fees. Analyzing user reviews helps us assess the overall sentiment. However, we didn’t evaluate every exchange and your needs might dictate an exchange we haven’t reviewed yet.
Frequently Asked Questions
As one of the leading and globally accessible cryptocurrency exchanges in the industry, Bybit stands out for its low fees, broad coin selection of over 220 cryptocurrencies, lightning-fast trading processes, and high system uptime (99.99%).
The platform also offers a free Grid Trading bot that can be used with their marketplace. Since it operates within Bybit’s website, no API connections to third-party crypto platforms are required, making it highly user-friendly.
Automated cryptocurrency trading software relies heavily on mathematical algorithms. Because of this, the AI that underpins the robot can autonomously engage in cryptocurrency trading without human intervention.
Creating an account is typically a prerequisite for using a bot. Once you verify your identity, you can start trading in real time. If you feel confident in your grasp of the platform, you can move on to live trading of BTC, where you’ll direct the bot’s actions based on the criteria you’ve established. Check-in on it every once in a while and watch your balance grow.
Because there are various types of bots, the success of a crypto trading bot may vary depending on its intended purpose. My research suggests, however, that Cryptohopper and Bybit’s bots are some of the most successful automated traders.
I believe it’s safe to say that the Australian cryptocurrency exchanges are among the world’s safest trading platforms since they are all regulated and monitored by the country’s highest financial authorities.
Just because trading bots are a form of automated trading software does not mean you should place all of your faith in this innovative approach towards increasing your chances of earning profit. Namely, the efficiency of the crypto trading robots is determined by the quality of their software, how well they have been programmed to successfully execute different trading strategies and the degree to which it is updated to reflect the market conditions.
So, for a bot to perform well, it must first be programmed with the knowledge of when and how to apply specific trading strategies. The next step is to decide which bot will be most effective in putting that strategy into action in response to market activity and signals. This is the only way a crypto bot can help you trade successfully and deliver a positive trading experience.
In addition, some bots’ use of artificial intelligence further ensures they’ll support cryptocurrency traders’ objectives.
The profitability of the automated trading tactics is contingent on several elements, including the robustness of the algorithm, the investment strategy you utilise, the volatility of the market, and your ability to adapt your bot to these variables effectively.
Traders who employ cryptocurrency trading bots stand to gain significantly, but only under optimal conditions. While they do offer some valuable features, including facilitating market monitoring and eliminating the emotional component of trading, crypto trading robots are not the magic fix that will guarantee you a lucrative gain.
Although most platforms will tell you how much profit you can expect from using their bots to trade cryptocurrencies, your actual returns will depend on your knowledge of the cryptocurrency market, your familiarity with the bot you’re using, and the amount of money you put into the trade.