The Best Ethereum Trading Bots in 2022

The Best Ethereum Trading Bots in 2022

The ongoing crypto winter affected all assets including flagship tokens like BTC and ETH. The latter has been under significant pressure lately due to the merger with the Beacon network. Ethereum switched to the PoS consensus mechanism which had a profound effect on the performance of the ETH token. The recent period of volatility demonstrates why using an Ethereum trading bot can be wildly efficient in the crypto market.

What happened to Ethereum and how it affected the market

During the summer, crypto enthusiasts had only one important crypto-related topic to talk about — the Ethereum merge. Deployed in 2018, the Beacon network operated alongside the mainnet but without any mining. Merging these two networks were supposed to be a big move by Ethereum due to the dramatic reduction in energy consumption and laying down the foundation for future improvements allowing better scalability and performance.

Unfortunately, despite many Ethereum trading tips distributed by influencers and so-called analysts, many traders were losing money. The market allowed many speculators to make significant profits and those who used DCA and GRID bots also enjoyed moderate success. Traders who worked on the spot market themselves or wanted to long the asset in a leveraged market position were at a notable disadvantage with many positions liquidated at a loss.

Just 6 hours after the merge concluded, ETH lost about 12% of its value. During the following week, it dipped to a two-month low of $1219 indicating the beginning of a long-term bear trend. Predicting the price dynamic is not something that can be done with a significant chance of success. However, some laws of technical analysis are quite reliable.

For example, many ETH trading bots that used DCA or GRID strategies turned out to be very successful due to the volatility that took the market by storm. See, even during a strong bearish trend, assets tend to correct their price multiple times. With moderate take profits, traders managed to earn money thanks to such corrections that happened multiple times during the apparent downfall of the asset.

How to auto trade cryptocurrency

The simplest way to set up a bot without any technical know-how is to use a specialized automation platform that has a specific product that you are looking for. Ethereum is one of the premier assets of the whole crypto industry. It can be found in listings of all popular crypto exchanges. Finding a good platform where you can trade this token is not an issue.

The next step is to find a reliable automation service that has a diverse lineup of products to choose a good option for your strategy and portfolio. We have several candidates: WunderTrading, CryptoHopper, and 3Commas. All three platforms are quite good, but WunderTrading is slightly more beneficial for newcomers and has a versatile catalog of customizable automation solutions.

You will need to follow just several steps to start automating your trading efforts:

    Register on the automation platform of your choosing.

    Find an option allowing you to connect an exchange (WunderTrading will prompt you automatically).

    Select the account that you want to connect to (spot or margin trading).

    Choose the bot from the catalog and start using an automated strategy right away.

In some cases, you will need to connect your account on TradingView if you have one. TradingView is the best online-only analytical platform that generates signals (alerts) that can be used as conditions for bots. Many trading bot crypto strategies are created using sophisticated analytical solutions from TradingView which has unique indicators like HashRibbons invented specifically for PoW tokens. Unfortunately, this particular won’t work on Ethereum because the network switched to the Proof-of-Stake consensus algorithm.

Finding the best automated crypto trading app

It can be quite challenging to find a platform that will satisfy the requirements of a retail investor looking for a reliable service that can generate money consistently if you have a working strategy. Here are our picks:

    WunderTrading is a powerful automation software vendor that focuses on delivering a versatile product. It has the best Ethereum trading bot in the market due to the variety of customization options and many compatible platforms that you can choose to immediately deploy bots. For example, you can use DCA, GRID, and Arbitrage bots at the same time after connecting the CEX of your choice. Currently, you can choose from a long list of exchanges including Binance, FTX, Bittrex, and more. 

    Cryptohopper is one of the companies representing the old guard of the automation industry. This web platform has a lot of interesting products and can be used to trade all sorts of crypto assets like Bitcoin, Ethereum, Cardano, Algorand, and more. The dashboard is somewhat clunky and requires some time to get used to. The selection of automation preset templates is a little bit underwhelming compared to contemporary standards, but the reliability and stability of the platform compensate for such shortcomings.

    3Commas is an advanced platform with many interesting automation solutions including copy trading and other social features. While it may be a little too complex for a layman, the platform is still one of the best in the market for newcomers thanks to the existence of a free plan. It also has plenty of products that focus on automated Ethereum trading and other cryptocurrencies that are popular among enthusiasts.

The basic plan at WunderTrading is one of the best in the industry. It is a way to experience the effects of automation for free without paying upfront. The plan allows you to run up to 5 bots simultaneously which is more than enough to set up a basic strategy and back-test it on TradingView.

If you are looking for the best bot that can make profits when trading Ethereum, you should use advanced, user-tested products. WunderTrading is one of the best platforms that you can choose in this domain. It has proven its efficiency during periods of high volatility. You can also try the demo version (free plan) to test a strategy before committing to paying for a more advanced subscription plan.



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